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ICICI bank was incorporated as a commercial banking company

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INTRODUCTION
ICICI bank was incorporated as a commercial banking company, by the Industrial Credit and
Investment Corporation of India (ICICI), in May 1994. The first ICICI branch was started in
June 1994 at Chennai. The bank provides an array of domestic and international banking
services to enable national and international trade and business, investment and foreign
exchange and treasury services. Right from its inception the bank focused more on
incorporating advanced technology. The bank operated the largest chain of ATMs in the
country, which amounted to more than 450 in 2000. All the bank's branches were fully
computerized and networked through V-SAT technology. By 1999, the number of branches
increased to 65 and the bank plans to have over 200 branches by the end of 2002. In April
2000, ICICI became the first Indian bank to be listed on the New York Stock Exchange
INTERNET BANKING
ICICI was always regarded as one of the best private banks to foster advanced technologies
in the banking sector. As part of its technology drive, in 1997, ICICI launched 'Infinity,' the
first Indian Internet banking service. The service was launched to reduce transaction cost and
offer convenient banking to customers. This meant enabling the customers to access their
bank account and make transactions at any time. ICICI realized that to make Infinity a
success, it would have to invest heavily in sound Internet banking e-commerce technology.
During 1995-99, ICICI invested Rs50 million in online banking technology solutions. In
1997, ICICI bought the 'BankAway' software from Infosys. BankAway was an e-commerce
solution that provided the bank a platform to offer an integrated financial services portal to
the customers. It offered access to account information, bill payment, cash management,
trade, finance and online shopping.
'Infinity' was initially targeted at the non-resident Indians (NRIs) to enable them to manage
their bank accounts in India through the Internet. According to the bank's sources, Infinity
helped to increase the business generated from NRI customers from Rs300 million in 1997 to
Rs1.4 billion in 1998. The service was also aimed at individuals in the age group of 30 to 50
years working in the corporate sector and proficient in using technology. However, over the

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next few years, the bank enhanced its services to attract other customers as well. As a result,
by early 2000, ICICI had over 110,000 Internet banking customers. In the first half of 2000,
ICICI's Internet banking customer base touched 275,000.
CORPORATE BANKING AT ICICI
At ICICI Bank, corporates are offered a wide range of products and services, the technologies
to leverage them anytime, anywhere and the expertise to customize them to client-specific
requirements. From cash management to corporate finance, from forex to acquisition
financing, we provide you with end-to-end services for all your banking needs.
The result is an overall financial solution for your company that helps you
accomplish your objectives:
ICICI Bank can guide you through the universe of strategic alternatives - from
identifying potential merger or acquisition targets to realigning your business' capital
structure.
ICICI Bank has been the foremost arrangers of acquisition finance for cross border
transactions and is the preferred financer for acquisitions by Indian companies in overseas
markets.
The Bank has also developed Forex risk hedging products for clients after
comprehensive research of the risks a corporate body is exposed to, e.g., Interest Rate, Forex,
Commodity, Credit Risk, etc.
We offer you global services through our correspondent banking relationship with
950 foreign banks and maintain a NOSTRO account in 19 currencies to service you better
and have strong ties with our neighbouring countries
ICICI Bank is the leading collecting bankers to Public & Private Placement/ Mutual
Funds/ Capital Gains Bonds issues. Besides, we have products specially designed for the
financial intermediaries to meet their unique requirements.
We support your international business by meeting working capital requirements of
export and import financing. We also have a host of non-funded services for our clients.

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 INTRODUCTION ICICI bank was incorporated as a commercial banking company, by the Industrial Credit and Investment Corporation of India (ICICI), in May 1994. The first ICICI branch was started in June 1994 at Chennai. The bank provides an array of domestic and international banking services to enable national and international trade and business, investment and foreign exchange and treasury services. Right from its inception the bank focused more on incorporating advanced technology. The bank operated the largest chain of ATMs in the country, which amounted to more than 450 in 2000. All the bank's branches were fully computerized and networked through V-SAT technology. By 1999, the number of branches increased to 65 and the bank plans to have over 200 branches by the end of 2002. In April 2000, ICICI became the first Indian bank to be listed on the New York Stock Exchange INTERNET BANKING ICICI was always regarded as one of the best private banks to foster advanced technologies in the banking sector. As part of its technology drive, in 1997, ICICI launched 'Infinity,' the first Indian Internet banking service. The service was launched to reduce transaction cost and offer convenient banking to customers. This meant enabling the customers to access their bank account and make transactions at any time. ICICI realized that to make Infinity a success, it would have to invest heavily in sound Internet banking e-commerce technology. During 1995-99, ICICI invested Rs50 million in ...
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