ICICI Bank

India's second-largest private sector bank traces its origins to a 1955 joint initiative by the World Bank and the Government of India, evolving from an industrial credit institution into a full-service universal bank. The entity officially became a scheduled commercial bank on January 5, 1994, and now serves over 70 million customers globally with operations spanning retail banking, corporate finance, insurance, and asset management.

Leadership dynamics shifted significantly when Chanda Kochhar stepped down following a corruption scandal involving loan approvals for the Videocon Group, which led to her conviction in 2024 before being stayed pending appeal. Sandeep Bakhshi assumed the role of Managing Director and CEO shortly after, steering the institution through a period of aggressive expansion that saw it challenge HDFC Bank for the top spot among private lenders.

Financial resilience remains a core strength, highlighted by the bank mobilizing $17.9 billion under the Reserve Bank of India's foreign currency deposit scheme in September 2026. This performance outpaced peers and prompted Goldman Sachs to raise its stock price target later that month, citing exceptional deposit growth and improved net interest margins despite short-term market volatility. [edit]