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Industrial credit and investment corporation- 1955 . An initiative of World Bank, government of India and representatives Indian industries. To create a developmental financial institution for providing medium-term and long term project financing to Indian businesses.

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industrial credit and investment corporation 1955

Industrial credit and investment corporation- 1955

An initiative of World Bank, government of India and representatives Indian industries.

To create a developmental financial institution for providing medium-term and long term project financing to Indian businesses.

www.bmsproject.weebly.com ; www.mymba.weebly.com

slide2

During 1997-98, ICICI announced three mergers:

SCICI (Shipping credit and investment corporation of India)

-Strength in infrastructure financing, and in the shipping line of credit which formed 27% of SCICI`s business.

ITC Classic finance Ltd

  • Non banking financial arm of ITC Ltd
  • ITC Ltd Was desperately scouting for a buyer for ITC classic, which had accumulated losses of over Rs 300 crore.
  • As a pre condition to merger, ITC had committed to inject Rs 350 crore into ITC classic by way of preference capital of 20 years maturity, carrying a nominal dividend.

Anagram

- Retail portfolio of Anagram, active in lease and high purchase, car finance, truck finance and consumer finance attracted ICICI.

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icici bank bank of madura merger
ICICI Bank- Bank of Madura Merger
  • ICICI bank- 1994
  • A new generation private sector bank
  • First Indian bank to be listed on New York stock exchange
  • By 2002, total assets of about $79 billion , a network over 950 branches, 3500 ATMs and 24 million customers.
  • US $ 81 billion at March 31, 2010, network of 2,506 branches and 5,808 ATMs in India, and has a presence in 19 countries

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slide4

Bank of Madura- 1943

  • South Indian bank
  • Track record of 57 years and strong brand name.
  • Profitable , well capitalized private sector bank
  • Had low cost of deposits, at 7.3% and high return on equity, 21.3 %
  • Total assets of Rs 39.88 billion and deposits of rs 33.95 billion at the time of merger

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outcomes of the merger
Outcomes of the merger:
  • Enhanced customer base in south India, geographical base, and shareholder value
  • ICICI bank became richer by 260 branches, 2500 personnel, deposit base of around Rs 37 crore
  • With combined assets of Rs 16,000 crore- amongst the largest private sector bank in India, with strong financial and operational structure which have given greater capability for resource/deposit mobilisation.
  • Cross selling of products and services of ICICI group
  • Enabled ICICI bank to provide ATMs, phone and internet banking
  • Access to 87 rural and 88 semi urban branches.
  • Microfinance activities through self-help groups and agricultural sectors under its priority sector initiatives.

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reverse merger of icici with icici bank 31 st march 2002
Reverse Merger of ICICI with ICICI bank- 31st March 2002
  • Reasons ???
  • Aimed at becoming a universal bank and the reverse merger made it the second largest bank in India with an asset base of over Rs 95,000 crore
  • Merger brought development institutions (IDBI, ICICI- created to meet financial requirements of of Indian Industry) into domain of retail banking.
  • ICICI bank wanted to wipe its huge portfolio of bad assets and make retail account for 45% of the total loans.
  • K V Kamnath`suniveral banking project was internally code named PROJECT DREAM.

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slide7

Merger of two wholly subsidiaries of ICICI- ICICi personal financial services and ICICI capital services- 2002

Elements of New strategy focuses on issues:

  • Aggressive capital management
  • Optimal size
  • Technology intensive multi channe delivery architecture
  • World class skill bases
  • Enduring customer relationships

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icici group today a virtual universal bank

ICICI

ICICI

ICICI Bank

ICICI Bank

ICICI Capital

ICICI Securities

ICICI Prudential

ICICI Brokerage

ICICI Web Trade

ICICI Venture

ICICI PFS

ICICI Infotech

ICICI Home

ICICI Lombard

ICICI group today - a virtual universal bank

Corporate Financial Services

Retail Financial Services

  • Internet
  • B2B
  • Consumer Finance Portals
  • Web Trade
  • Venture Capital
  • Technology Platforms
  • Payment Gateway
  • Customer Relationship Management
  • Financial Vertical
  • Web Technologies

… based on key building blocks present across the group

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