Do you know what is the ICICI Full Form? The full form of ICICI Bank is the Industrial Credit and Investment Corporation of India. ICICI is a well-known name in the Indian financial sector, but many people are unaware of what the acronym stands for. If you’ve ever wondered what ICICI’s full form is, you’ve come to the right place.
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What is the ICICI Full Form?
ICICI – Industrial Credit and Investment Corporation of India
What is ICICI Bank
ICICI is a leading Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. The ICICI bank offers a wide range of services, including corporate banking, personal banking, investment banking, and insurance.
History of ICICI Bank
ICICI Bank, the acronym for “Industrial Credit and Investment Corporation of India,” is a significant private sector bank in India. Established in 1955, it was initially created to provide long-term financing to industrial projects as a development finance institution. However, it now offers commercial banking services as well.
The World Bank, the Government of India, and the Indian industry jointly founded ICICI Bank. In 1994, it made history by becoming the first Indian bank to offer Internet banking. Following its merger with another Indian financial institution in 2002, ICICI Bank has become the country’s second-largest bank with a vast branch network nationwide.
Today, ICICI Bank is a leading provider of banking and financial services in India, catering to individuals, corporates, and SMEs both domestically and globally with its diverse range of products and services.
Key milestones in ICICI’s history
In 1994, ICICI became the first Indian company to list on the New York Stock Exchange. In 2002, ICICI Bank was formed as a subsidiary of ICICI, and in 2007, ICICI Bank became the first Indian company to be listed on the New York Stock Exchange.
Today, ICICI is one of India’s leading financial institutions with a presence in over 17 countries.
Services Offered by ICICI
ICICI Bank offers a wide range of services, including credit cards, debit cards and more. To explore the full range of offerings, please see below:
- 2-Wheeler Loans
- Auto Loans
- Current Account and Savings Account Services
- Deposit Schemes like Fixed Deposits and Recurring Deposits
- General Insurance
- Health Insurance
- Home Loans
- Internet Banking and Mobile Banking
- Investment for Tax Strategies
- Life Insurance
- Mutual Funds
- Personal Loans
- PPF Account
Indian Subsidy of ICICI
ICICI Bank has twelve subsidiaries in India that provide various services to their customers. The list of these subsidiaries is as follows:
- ICICI Direct
- ICICI Home Finance Company Limited
- ICICI Investment Management Company Limited
- ICICI Lombard General Insurance Company Limited
- ICICI Prudential Asset Management Company Limited
- ICICI Prudential Life Insurance Company Limited
- ICICI Prudential Pension Funds Management Company Limited
- ICICI Prudential Trust Limited
- ICICI Securities Limited
- ICICI Securities Primary Dealership Limited
- ICICI Trusteeship Services Limited
- ICICI Venture Funds Management Company Limited
FAQs- What Is The ICICI Full Form?
Q.1. What is the ICICI Full Form?
Ans. The full form of ICICI Bank is “Industrial Credit and Investment Corporation of India.”
Q.2. When was ICICI Bank founded?
Ans. ICICI Bank was founded in 1955.
Q.3. Who established ICICI Bank?
Ans. ICICI Bank was established as a joint venture between the World Bank, the Government of India, and the Indian industry.
Q.4. What was the initial purpose of ICICI Bank?
Ans. ICICI Bank was initially established as a development finance institution to provide long-term financing to industrial projects.
Q.5. What services does ICICI Bank offer?
Ans. ICICI Bank offers a wide range of banking and financial services to individuals, corporates, and SMEs both in India and abroad.
Q.6. Is ICICI a government-owned company?
Ans. No, ICICI is a private-sector bank and financial services company. However, it does have some government shareholding.
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