History of ICICI Group
In 1955, ICICI was formed as an initiative of the Indian Government, the World Bank and representatives of Indian industry. It was founded with the main objective of creating a development financial institution to provide medium-term and long-term project financing to Indian businesses.
Till the late 1980s, the main focus of ICICI project finance, i.e., was to offer long-term funds to various industrial projects. Post the liberalisation of the financial sector in India in the 1990s, ICICI changed its business from offering only project finance to a diversified financial services provider.
In 1994, as a part of the ICICI Group, ICICI Bank was incorporated. In 1999, ICICI became the first Indian company and financial institution from non-Japan Asia to be listed on the New York Stock Exchange.
In 2001, the Boards of Directors of ICICI Group and ICICI Bank approved the merger of ICICI and two wholly-owned retail finance subsidiaries, ICICI Capital Services Limited and ICICI Personal Financial Services Limited, with ICICI Bank. Consequent to the merger, the ICICI Group's banking and financing operations, including both retail and wholesale, were combined into a single entity.
ICICI Group’s Sector Presence
ICICI Group currently operates in sectors such as:
- Banking and Finance: Through ICICI Bank and ICICI Home Finance Company, the Group provides banking and financial services.
- Insurance: They offer insurance services through ICICI Prudential Life Insurance Company and ICICI Lombard General Insurance Company.
- Investments: Through ICICI Securities, ICICI Ventures and ICICI Prudential Asset Management Company, they have a presence in investments, such as real estate, mutual funds, etc.
Key Personnel of the ICICI Group
- Sandeep Bakhshi, Managing Director and CEO
Sandeep Bakhshi has been the Managing Director and CEO of the ICICI Group since October 15, 2018. He joined the Group in 1986 and was part of various assignments, such as ICICI Prudential Life Insurance, ICICI Bank and ICICI Lombard General Insurance. He also served as the Whole Time Director and the Chief Operating Officer of the ICICI Bank.
How To Invest in the ICICI Group Stocks?
Investing in ICICI Group stocks via Angel One is easy. Simply follow these steps:
- Log in to your Angel One account.
- Click on the search icon and look for your desired ICICI Group stock.
- Now, place your buy order. Simply click on the ‘Buy’ button, enter your desired quantity, and select the order type.
- To complete your transaction, click on the ‘Buy’ button.
If you don’t have a Demat account with Angel One, you can open one for free online within minutes.
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