ICICI Bank Ltd (ICICIBANK) Share Price

ICICI Bank is one of India’s leading private-sector banks. ICICI Bank operates a wide network of branches and ATMs across the country with its head office in Mumbai, Maharashtra. The story of ICICI Bank goes back to 1955 when ICICI was formed as an initiative of the World Bank, the Indian government and representatives of several Indian industries. ICICI was constituted in order to create a development financial institution which will offer medium-term and long-term project financing to Indian businesses. For several years after its formation, ICICI focused primarily on project finance and providing long-term funds to several Indian industrial projects. ICICI Bank, as it is known today, was established in 1994. ICICI Bank was among the first banking institutions in the country to launch Internet banking. It did so in 1998. In the following year, ICICI Bank was listed on the prestigious US-based New York Stock Exchange. ICICI Bank expanded its customer base and network in 2000 after merging with the Bank of Madura. 2001 was big for the bank as two wholly-owned subsidiaries of the company  namely ICICI Personal Financial Services and ICICI Capital Services were amalgamated with ICICI Bank after Board approval. Post merger, the entire umbrella of ICICI Group's financing as well as banking operations were brought under a single entity i.e. ICICI Bank. In 2010, ICICI Bank purchased a controlling stake in the Bank of Rajasthan. In 2020, ICICI Bank purchased a 5 per cent stake in the financially unstable YES Bank. 

Products and service 

ICICI Bank, being one of the biggest private sector banks in the country, offers a variety of products and services. ICICI Bank offers savings accounts and current accounts to its customers. Under savings accounts, ICICI Bank offers regular savings accounts, salary accounts and senior citizen savings accounts. ICICI Bank is also in the credit card business. It offers credit cards that cater to the different needs of customers. ICICI Bank also provides personal loans for home renovation, travel, education, medical emergencies, etc. The bank also offers home loans and car loans. ICICI Bank’s insurance products include life insurance, health insurance and general insurance. ICICI Bank’s investment products are fixed deposits, mutual funds and demat accounts.

Listing 

Banking major ICICI Bank issued its Initial Public Offer (IPO) in 1997. ICICI Bank shares are listed in a number of Indian stock exchanges like BSE, NSE Calcutta Stock Exchange, Delhi Stock Exchange, Madras Stock Exchange etc. ICICI Bank is a part of multiple prominent indices like Nifty 50, Nifty 500, S&P BSE Sensex etc.