What is the full form of ICICI
ICICI Bank Full Form : Industrial Credit and Investment Corporation of India
Industrial Credit and Investment Corporation of India was the parent company of ICICI Bank, which was merged with ICICI Bank in 2002. Industrial Credit and Investment Corporation of India became ICICI Bank after the merger, hence it is now called ICICI Bank. It is headquartered in Mumbai, Maharashtra, India and operates in 17 countries around the world.
As of 2014, it was the second-largest bank in India in terms of assets. icici bank offers a wide range of banking products and services to its corporate and retail customers
Services and Products.
- Some of ICICI Bank’s popular products and services are listed below:
- Cards such as credit card, debit card, and business card
- Loans like home loan, Gold loan, personal loan, Four-wheeler loan and two-wheeler loan
- Investments like mutual funds, tax solutions, and PPF
- Insurance like general insurance, health insurance, and life insurance
- Submit schemes like Fixed Deposit (FD) and Recurring Deposit (RD)
- Commercial banking including a wide range of checking account, internet banking and mobile banking products.
- Personal banking which offers a savings account with various benefits like debit card, credit card, and internet banking
History ICICI Bank
In the year 1955, the Industrial Investment and Credit Corporation of India (ICICI) was established.
ICICI Bank became the first Indian bank in India to launch Internet banking in 1998.
In the year 2000, ICICI Bank became the first Indian bank listed on the New York Stock Exchange.
The Full Form Of Icici
In 2001, ICICI acquired Bank of Madura which was established in 1943.
In the year 2002, the directors of ICICI and ICICI Bank approved the reverse merger of ICICI (parent company) into ICICI Bank (subsidiary).
In 2003, ICICI Bank opened its branches in Canada, United Kingdom (UK) and Singapore. ICICI Bank also established representative offices in Shanghai and Dubai.
In 2004, it opened an office in Bangladesh and the wider banking market in Bangladesh in South Africa.
In 2005, ICICI Bank acquired Investitsionno-Kreditny Bank (IKB), a Russian bank and was renamed ICICI Bank Eurasia. In the year 2005, it also established a branch in Dubai and Hong Kong. In 2006, it established a branch in Antwerp, Belgium and representative offices in Bangkok, Jakarta and Kuala Lumpur.
In the year 2007, ICICI Bank acquired Sangli Bank, which had 158 branches in Maharashtra and 31 branches in Karnataka.
In 2008, with the permission of the United States Federal Reserve, it changed its New York office to a branch of ICICI Bank. In 2008, he also opened a branch in Frankfurt.
In 2013, it became the first private sector bank in Maharashtra to start a mobile branch with an ATM.