History of ICICI Bank Incorporated In 1994. First Indian Company To Raise Funds From International Markets 2nd Largest Bank In India Network Of 2777 Branches 10021 ATMs SUBSIDIARIES IN UK, RUSSIA, CANADA, SINGAPORE etc Launched private banking in 2002.
"I believe that once someone tastes success one must not let it go easily. That’s where culture comes in. One needs to take the innovative spirit and push it to a level where change, learning, and knowledge sharing become a regular part of the company’s culture.“ – K V Kamath
K V Kamath Name: Kundapur Vaman Kamath Age: 64 Title: non-executive chairman of ICICI Bank & Infosys Education: Mechanical engineer (Karnataka Regional Education College); MBA (Indian Institute of Management, Ahmedabad) Pursuits: Watching motor racing and cricket; reading Claim to fame: Transformed a single-product, project finance entity into a multi-specialist financial services conglomerate, ICICI Bank, in less than a decade.
Awards & Achievement2001:CNBCs "Asian Business Leader of the Year"2005: Businessman of the Year award by Business India2006: Outstanding Business Leader of the Year award from CNBC-TV182007: Business Leader Award of the Year by the Economic Times2008: Honored with Padma Bhushan
Career After graduating from IIM-A in 1971, Kamath started his career with ICICI in the Project Finance division and moved on to different departments to gather experience which included setting up of new businesses such as leasing, venture capital, credit rating as well as handling general management positions. In 1988, Kamath joined the Asian Development Bank, Manila in their Private Sector Department. His principal work experience at ADB was in various projects in China, India, Indonesia, Philippines, Bangladesh and Vietnam. He was the ADB representative on the Boards of several companies.
In May 1996, Kamath returned to ICICI as its Managing Director and Chief Executive Officer. Kamath was instrumental in expanding the Groups services to the retail customers. He initiated a process of a series of acquisitions of non-banking finance companies in 1996-98, and led the way to the formation of ICICI Bank. Now, on 2nd may 2011 he is appointed as non- executive chairman of the second-largest software exporter, Infosys Ltd (earlier Infosys Technologies Ltd)
Marketing StrategyDistribution Strategy•Cross selling of products as a major area of focus•Creation of concept of DSA (Direct Selling Agent)•Creation of concept of DST (Direct Selling Team)•Effort on the part of the bank to reach the customer rather than waiting for the customer•Use of internet, mobile, ATM’s and other technological device to reach and serve the customers
Product Promotion•Aimed at generating sales•Communicates product features and benefits•Mainly through print media•Point of purchase promotion tools for different products to reach the relevant customer segment
Core strategy Consumer banking (home loan, car loan etc) Setting up of international offices Use of big opportunity in rural India Offer a multi-channel delivery system to its customers
Acquisition acquisitions like SCICI Ltd, ITC Classic Finance, which had a strong retail base in Eastern India and a strong base in the West. acquired Bank of Madhura at a time when its own revenues stood at Rs 2,500 crore (Rs 25 billion) and that of the bank at Rs 100 crore (Rs 1 billion), it was time for the next courageous move.
Merger The year 2002 was the landmark year for ICICI, the board of directors of ICICI and ICICI Bank approved the merger of the parent company ICICI and subsidiaries like ICICI Personal Financial Services Ltd and ICICI Capital Services Ltd, with yet another subsidiary ICICI Bank. It was a reverse merger and quite rare in corporate India, where a parent company merged with its subsidiary and adopted the laters identity.
Contribution of Kamath ICICIs computerisation programme, which in later years would give ICICI a huge competitive advantage. ICICIs strategy and product offering recognized the changing demands of a growing middle-class.
ICICIs computerisation programme, which in later years would give ICICI a huge competitive advantage. ICICIs strategy and product offering recognized the changing demands of a growing middle-class. 1999, That year, ICICI Ltd got listed on the New York Stock Exchange, NYSE, the first ever Indian financial institution to go the American Depositary Receipts the first to go into online trading and Internet banking
introduced ATMs across the country to meet the shortfall of being able to offer branch facilities In December 2005, ICICI Bank announced its initial public offer to the Indian market and amassed over Rs 80 billion.
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.