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Bank
FINANCE | Retail Banking
icicibank.com

Investments

34

Portfolio Exits

4

Partners & Customers

10

About ICICI Bank

ICICI Bank (BSE: ICICIBANK) (NSE: ICICIBANK) (NYSE:IBN) is a private sector bank in India. ICICI Bank's subsidiaries include private sector insurance, asset management, and securities brokerage companies, as well as a private equity firm. It is present across 15 countries, including India.

Headquarters Location

ICICI Bank Towers Bandra-Kurla Complex

Mumbai, 400 051,

India

+91 2233667777

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CB Insights Intelligence Analysts have mentioned ICICI Bank in 1 CB Insights research brief, most recently on Oct 18, 2022.

Latest ICICI Bank News

HDFC Bank set to get a boost from a wider branch network

Oct 2, 2023

Business Telegraph October 2, 2023 Oct. 02, 2023 at 3:24 am Mumbai: HDFC Bank – Nifty’s only constituent with a double-digit weighting – has had a rather circumspect run in the September quarter as a merged entity. The country’s most valued lender, with a market capitalisation touching $150 billion, shed the equivalent of IndusInd Bank in value in the past three months, raising a question mark whether it would still be the most impactful banking entity as India seeks to cement its presence on the high table of global finance. Opinions differ on the duration of the current weakness in the HDFC Bank stock. Relative to public-sector lenders, the gauge for which climbed four times in the past three years, the erstwhile gold standard in Indian banking has turned in a relatively subdued performance on the bourses. Relative valuations and uncertainties surrounding the lender’s eventual merger with its home-financing parent weighed on the stock. While underwriting across the industry has strengthened over the years after a spate of write-offs and the enactment of a bespoke bankruptcy law, commercial banking in India remains very much a function of nurturing relationships that accrue fat dividends only with presence on the ground. It is true that Covid and the fintech revolution have caused banking technology to leapfrog years and seemingly obviate the need for branch visits, but the key to building a stable base for liabilities – or deposits – lies in taking doorstep banking to locations that are looking for the financialisation of savings but have few credible vehicles to do so.HDFC Bank appears to have focused on doing this just right over the past few years, according to the latest report from Jefferies. With a 40% climb in the footprint where the presence of private-sector peers such as ICICI Bank and Axis Bank is minimal, HDFC Bank is taking the battle to public-sector lenders for deposits, armed with a wider suite of products and breadth of service that state-run banks will find difficult to offer. “Our zipcode-level analysis shows that HDFC Bank has added branches in areas with limited competition from private banks. In fact, 45-50% of new branches are in markets where leading private banks, such as ICICI Bank and Axis are not present,” said the Jefferies note. Merger Synergies, Earnings The benefits of the merger and deposit-garnering efficiency of the newly opened branches are expected to kick in over the next 18 months.”Over the next three years, we expect HDFC Bank to deliver 16% CAGR in earnings growth aided by synergies from mergers – expansion of home loan network to the branches and cross-selling of financial products,” said Jefferies. Deposit mobilisation per branch at HDFC Bank runs ahead of peers, guaranteeing access to less expensive funds incrementally as branch networks mature and deposits migrate from smaller rival banks to the market leader. Relative to the size of the gross domestic product, Indian banking, financial services, insurance and investment companies appear to be adequately represented. In comparison with other sectors, BFSI companies in India appear to have the requisite market capitalisation heft. BFSI’s share in the combined market value of India’s top 20 companies is more than a third. This is roughly equal to the share finance companies from mainland China have in their home market, and is vastly greater than the respective shares of the US, Japan, and Germany that together make up the five biggest economies on the planet. Balance Sheet Size However, this seemingly adequate relative BFSI share hides the size of individual entities that must have sufficient balance sheet strength to garner the finances required for large upcoming investments in a country aiming to pull ahead of Germany and Japan by the end of this decade. This is where HDFC Bank scores over others. Even after the recent 10% decline in the quarter gone by, the first in which mortgage-lender HDFC was subsumed into the bank it had spawned three decades ago, the market capitalisation of HDFC Bank dwarfs all other Indian financial companies, with a weighting of nearly a seventh on the Nifty. Its nearest rival ICICI Bank, with about an 8% weighting, has a market capitalisation of just about half that of HDFC Bank. In doing the basics right, which includes registering a brick-and-mortar presence beyond the big cities, HDFC Bank appears to have done the spadework for leading the next leg of India’s financial growth.

ICICI Bank Investments

34 Investments

ICICI Bank has made 34 investments. Their latest investment was in Quantum CorpHealth as part of their Unattributed on September 9, 2023.

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ICICI Bank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/21/2023

Unattributed

Quantum CorpHealth

$0.6M

Yes

1

7/25/2023

Series A

Auxilo Finserve

$57.4M

No

1

5/5/2023

Series A

PropertyPistol

$5.5M

Yes

3

2/6/2023

Series A

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10

1/12/2023

Debt - II

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$99M

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10

Date

9/21/2023

7/25/2023

5/5/2023

2/6/2023

1/12/2023

Round

Unattributed

Series A

Series A

Series A

Debt - II

Company

Quantum CorpHealth

Auxilo Finserve

PropertyPistol

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Amount

$0.6M

$57.4M

$5.5M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

1

3

10

10

ICICI Bank Portfolio Exits

4 Portfolio Exits

ICICI Bank has 4 portfolio exits. Their latest portfolio exit was One97 Communications on November 18, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/18/2021

IPO

$99M

Public

8

8/7/2019

IPO

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$99M

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10

7/17/2012

Reverse Merger

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$99M

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10

1/3/2012

Acquired

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$99M

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0

Date

11/18/2021

8/7/2019

7/17/2012

1/3/2012

Exit

IPO

IPO

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

8

10

10

0

ICICI Bank Acquisitions

1 Acquisition

ICICI Bank acquired 1 company. Their latest acquisition was PAYBACK on .

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

$99M

Acquired

6

Date

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

6

ICICI Bank Partners & Customers

10 Partners and customers

ICICI Bank has 10 strategic partners and customers. ICICI Bank recently partnered with Innoviti, Reliance Retail, and Kotak Mahindra Bank on August 8, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

8/28/2023

Partner

India

Mukesh Ambani's Jio Financial Services Explores Blockchain And CBDCs

Through partnerships with ICICI Bank , Kotak Mahindra Bank , and fintech firm Innoviti Technologies , Reliance Retail introduced in-store support for the digital rupee .

3

5/17/2023

Partner

India

Zomato launches its UPI service in India: How to use it

The service has been launched in partnership with ICICI Bank and it and it will enable Zomato users in the country to make direct payments to both individuals and merchants .

2

5/2/2023

Partner

India

Pine Labs joins ICICI Bank to accept digital rupee on its PoS terminals

Merchant commerce omni-channel platform Pine Labs announced the acceptance of digital rupee on its point of sale terminals in partnership with ICICI Bank .

1

2/14/2023

Partner

France

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10

6/9/2022

Vendor

India

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10

Date

8/28/2023

5/17/2023

5/2/2023

2/14/2023

6/9/2022

Type

Partner

Partner

Partner

Partner

Vendor

Business Partner

Country

India

India

India

France

India

News Snippet

Mukesh Ambani's Jio Financial Services Explores Blockchain And CBDCs

Through partnerships with ICICI Bank , Kotak Mahindra Bank , and fintech firm Innoviti Technologies , Reliance Retail introduced in-store support for the digital rupee .

Zomato launches its UPI service in India: How to use it

The service has been launched in partnership with ICICI Bank and it and it will enable Zomato users in the country to make direct payments to both individuals and merchants .

Pine Labs joins ICICI Bank to accept digital rupee on its PoS terminals

Merchant commerce omni-channel platform Pine Labs announced the acceptance of digital rupee on its point of sale terminals in partnership with ICICI Bank .

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Sources

3

2

1

10

10

ICICI Bank Team

9 Team Members

ICICI Bank has 9 team members, including current Chief Executive Officer, C. Kochhar.

Name

Work History

Title

Status

C. Kochhar

Chief Executive Officer

Current

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Name

C. Kochhar

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Work History

Title

Chief Executive Officer

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Status

Current

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