Ms. Chanda Kochhar, Managing Director & CEO, today inaugurated the 2000th branch of ICICI Bank at Veera Desai Road, Andheri West, Mumbai. ICICI Bank is the first private sector bank to reach this milestone, giving the Bank a wide distribution reach in the country.
Speaking at the occasion, Ms. Kochhar said, “The inauguration of this 2,000th branch signifies our commitment to getting closer to our customers through an enhanced branch network. Our branches are well equipped to address customer needs through a wide range of products and services. Our branches now have dedicated service area for Privilege Banking customers.”
The Bank continues to expand its branch network to enhance its deposit franchise and create an integrated distribution network for both asset and liability products. In conjunction with the expansion in branch network, the Bank continues to invest in its electronic channels namely internet banking, mobile banking, phone banking and ATMs. The Bank has over 5,300 ATMs spread across the country.
About ICICI Bank:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $100 billion at March 31, 2010. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.
Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
