ICICI BANKIndustrial credit and investment corporation of India
HISTORY INCORPORATED IN 1994. FIRST INDIAN COMPANY TO RAISE FUNDS FROM INTERNATIONAL MARKETS 2ND LARGEST BANK IN INDIA NETWORK OF 1308 BRANCHES 3950 ATMS SUBSIDIARIES IN UK, RUSSIA, CANADA, SINGAPORE etc Launched private banking in 2002.
SERVICES Wide variety of deposit products such as internet and mobile banking. Credit and debit cards. Demat accounts ,homeloans,carloans etc. Travel cards wuth US dollars , euro,pound etc. INVESTMENT PRODUCTS Investment in mutual funds. Govt. of India bonds.
CEO AND MD KV Kamath MD & CEO, ICICI. 57, is the man credited with driving not only ICICI Banks growth, but also that of the entire financial services sector in the country- That he has gained one position movingfrom No 8 in 2003 to No 7 this year, speaks of his growing influence and power within corporate circles in India. This was the year that also saw ICICIBank hit the capital markets with one of the biggest equity issues Kamath may easily be called the one who transformed the face of Indian banking.
SWOT ANALYSISThe SWOT Analysis enables a company to recognize its market standing and adopt strategies accordingly. Here SWOT analysis of ICICI bank is made to understand the positioning of the bank better:STRENGTHS 1. BRAND NAME: ICICI Bank has earned a reputation in the market for extending quality services to the market vis-à-vis its competitors. It has earned a strong Brand name in banking in a very short span of time. 2. MARKET SHARE: ICICI Bank has the largest market share of 34% in the IT & ITES industry in Hyderabad according to our survey (within the limitation of the sample size.)
SWOT ANALYSIS3. HUGE NETWORK: ICICI Bank has the highest number of linked branches in the country. The bank operates through a network of 450 BRANCHES AND over 1800 ATMs across India, thus enabling them to serve customer in better way.4. DIVERSIFIED PORTFOLIO: ICICI Bank has all the products under its belt, which help it to extend the relationship with existing customer. ICICI Bank has umbrella of products to offer their customers, if once customer has relationship with the bank. Some Products, which ICICI Bank is offering are: • Retail Banking • Business Banking • Merchant Establishment Services (EDC Machine) • Personal loans & Car loans • Demat Services with E-Broking • Mutual Fund (ICICI Bank is the Distributor of all Mutual Fund) • Insurance • Housing Loans
STRENGTHS:5. WORKING HOURS: ICICI is the only bank which is having its working hours from 8 to 8 which is one of the major strength of ICICI Bank with respect to IT & ITES Industry.
WEAKNESSES1. TRANSACTION COST: ICICI Bank charges high cost for its transactions2. FOCUS ONLY ON HIGH END CUSTOMERS3. DEFENSIVE APPROACH IN LENDING4. LITTLE PRESENCE OUTSIDE INDIA5. POOR CUSTOMER CARE/SERVICE
OPPORTUNITIES 1. NEW IT & ITES COMPANIES: IT & ITES sector is on a boom in the Indian market context, with new companies mushrooming in the market; it opens the door for ICICI bank to capture the huge untapped market. 2. Dissatisfied Customers of Other Banks: The group from its survey and analysis of IT companies have found out that there are many companies which are not satisfied with its current bank, so ICICI with its superior service quality and long working hours can capture those customers.
3. Business advising for smaller Players: The analysis has also indicated that the concept of business advising though very popular with the higher end players is virtually non existent in the lower end of the market
THREATS1. Dissatisfied Customers2. Ever improving nationalized banks: With PSU banks like SBI going all out to compete with the private banks and government giving them a free hand to do so, it can prove to be serious threat for banks like ICICI3. Advent of MNC banks: Large numbers of MNC banks are mushrooming in the Indian market due to the friendly policies adopted by the government
BRAND AMBASSADORSHAHRUKH KHAN, with his charming face and stunning personality adds to the goodwill of ICICI bank.