INTRODUCTION OF ICICI BANK

ICICI Bank is India's largest private sector bank with total assets of Rs. 5,367.95 billion (US$ 99 billion) at March 31, 2013 and profit after tax Rs. 83.25 billion (US$ 1,533 million) for the year ended March 31, 2013. The Bank has a network of 3,620 branches and 11,292 ATMs in India, and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

HISTORY
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.

ICICI BANK- TAB BANKING

The technology landscape is undergoing unprecedented changes and customers are embracing a range of technology options such as mobility, Internet and social media at a rapid pace. What took the Internet 15 years to do, mobile only took 5 years. Financial services are no different. Taking cognizance of this massive trend, ICICI Bank developed a comprehensive mobile strategy to enhance customer experience and improve service availability. One of the most significant initiatives under the mobility strategy is an initiative called Tab Banking. This is a pioneering step taken by ICICI Bank by using tablets. Tab Banking gives a potential customer the convenience of opening his/her bank account at his/her home or office. Using a tablet equipped with mobile connectivity, the banks executive fills account opening details, clicks the picture of a customer and takes the relevant KYC (Know Your Customer) documents, thereby doing away with the need for the customer to visit a branch. Tab Banking has enabled opening of account within a day and eliminated rework due to data entry and documentation errors. Tab banking enables the bank officers to capture customer details, documents in front of the customer and synchronize the records to a central server over a 3G mobile network. Video demos on product are also available through the same. It consists of a high-end tablet comprising of high quality camera bundled with great audio-visual experience. This is a tool, which is envisioned as a branch in the hands of sales officers. Currently, ICICI Bank is the only bank in India to offer this service to its customers, thus providing a comfortable and pleasant account opening experience.

 The primary objective of this solution is to reduce turnaround time for account opening and eliminate rejections due to incomplete account opening form or KYC mismatch. Using a tablet, the banks executive generates transaction vouchers (slips). Thus, there is no waiting time at the counter as transaction details entered on tablet are automatically moved to the service officer. The service has been enabled on 4,000 tablets across 20 cities. A tablet application for sales management has been implemented with an objective to improve the efficiency and productivity of the sales staff by enabling them to manage sales activities such as lead management, event management, calendar management, task management, cross-sell and supervisory review.

A Business Companion app has also been developed, which gives business groups access to critical product and process-related information. The app helps in significantly enhancing the efficiency of client acquisition and servicing processes for relevant business groups. For instance, knowledge on relevant topics has consequently helped the relationship team and operations group by reducing rework (focus on first time right) and strengthening the overall brand equity of the bank. Today, thanks to the initiative, bank account can be opened at the customers premise using the tablet and built-in apps. As a result, the average account opening turnaround time has come down from more than 4 days to less than 1.5 days. It has also significantly reduced the percentage of rework, which was earlier attributed to incomplete/incorrect documentation and data entry errors. HIGHLIGHTS- Average account opening turnaround time has come down from more than 4 days to less than 1.5 days Service enabled on 4,000 tablets across 20 cities. The percentage of rework has come down from 7 percent to 1 percent

SWOT ANALYSIS