ICICI Bank, India's largest private sector bank, has once again taken giant step to boom in the banking sector.
The bank has opened its first branch in the United States at posh midtown New York with the view to provide services to US employees of large Indian companies like Infosys and Tata Consultancy Services there.
Mr. K V Kamath Managing Director and CEO of ICICI bank said, “New York has the deepest pool of capital, and by operating here, we will grow our business.”
In order to capture a share in the German market for online and telephone banking, ICICI Bank UK, a wholly-owned subsidiary of ICICI Bank has opened a branch in the financial centre of Frankfurt.
Chief Executive Kundapur Vaman Kamath said, “Germany, as Europe's largest economy, is an important step in the international expansion strategy of ICICI Bank.”
The new branch, member of the Association of German Banks, will concentrate on serving corporate business groups with substantial Germany-India relationships.
ICICI Bank, the country’s second-biggest banking group, plans to hire 20,000-30,000 staff in the current fiscal.
The bank would employ between 75,000 and 1,00,000 direct employees in the coming years. If indirect staffs that comprise insurance agents are added, the bank’s total employee force would be about half-a-million in some years.
KV Kamath, Managing Director and CEO, ICICI Bank said the banking group its realty needs accordingly.
Chennai: For offering up one-stop answer to business firms for Clean Development Mechanism (CDM) projects and Carbon Credit business, ICICI Bank has signed up a Memorandum of Understanding (MoU) with MITCON Consultancy Services Limited.
According to the company release the novel deal would assist several SME units, who would be capable of availing a full services package through direction from consistent partners with confirmed knowledge in the Carbon Credit business with the backing of ICICI Bank.
Rajesh Agarwal of CD Equisearch has suggested the shareowners to stay invested in ICICI Bank for long term.
Agarwal told, “In ICICI Bank funds, but because of interest rates stabilizing the margins will be better this time. It is currently quoting at a PE of 28, I think the bank has a very good long-term prospect and one could hold for a long term. The price target would be in the range of Rs 1,100-1,150 in a period of 6-9 months.”
step to boom in the banking sector. 
ICICI Bank, the country’s second-biggest banking group, plans to hire 20,000-30,000 staff in the current fiscal. 
Chennai: For offering up one-stop answer to business firms for Clean Development Mechanism (CDM) projects and Carbon Credit business, ICICI Bank has signed up a Memorandum of Understanding (MoU) with MITCON Consultancy Services Limited. 
