ICICI FULL FORM

ICICI FULL FORM

Full Form of ICICI : Credit and Investment Corporation of India

What is the full form of ICICI ?

No:1. It was the parent company of ICICI Bank which was merged into ICICI Bank in 2002.
No:2. After the merger, ICICI became ICICI Bank so it is now called ICICI Bank.
No:3. It is headquartered in Mumbai, Maharashtra, India and is operating in 17 countries around the world.
No:4. As of 2014, it was the second largest bank in India in terms of assets.
No:5. The bank offers a wide range of banking products and services to its corporate and retail customers

Product and Services

Some of the popular products and services of ICICI bank are listed below:
No:1. Cards such as credit card, debit card and business card
No:2. Loans such as home loan, personal loan, car loan and two -wheeler loan
No:3. Investments such as mutual fund, tax solutions and PPF
No:4. Insurance such as general insurance, health insurance and life insurance
No:5. Deposit schemes such as fixed deposit (FD) and recurring deposit (RD) schemes
No:6. Business banking which includes wide range of current account products, internet banking and mobile banking
No:7. Personal banking which offers saving account with various benefits like debit card, credit card and internet banking

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Brief History

No:1. In 1955, Industrial Credit and Investment Corporation of India (ICICI) was founded.
No:2. In 1994, ICICI entered the banking industry by establishing ICICI bank limited as its banking subsidiary.
No:3. In 1998, ICICI bank became the first bank to launch internet banking in India.
No:4. In 200, it became the first Indian bank listed on the New York Stock exchange.
No:5. In 2001, ICICI acquired Bank of Madura which was established on 1943.
No:6. In 2002, Directors of ICICI and ICICI Bank approved the reverse merger of ICICI (parent company) into ICICI Bank .
No:7. In 2003, ICICI Bank opened its branches the Canada, the United Kingdom (UK) and in Singapore. It also established representative offices in Shanghai and Dubai.
No:8. In 2004, it opened an office in Bangladesh to the extensive banking market in Bangladesh and South Africa.
No:9. In 2005, ICICI Bank acquired Investitsionno-Kreditny Bank (IKB), a Russian Bank and renamed it ICICI Bank Eurasia. In this year, it also established a branch in Dubai and Hong Kong.
No:10. In 2006, it established a branch in Antwerp, Belgium and representative offices in Bangkok, Jakarta and Kuala Lumpur.
No:11. In 2007, it acquired the Sangli Bank which has 158 branches in Maharashtra and 31 branched in Karnataka.
No:12. In 2008, with the permission of US Federal Reserve, it converted its New York office into a branch of ICICI bank. In this year, it also opened a branch in Frankfurt.
No:13. In 2013, it became the first private sector bank to launch mobile branch with ATM in Maharashtra.
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