Established in December 2003, ICICI Bank Canada is a full-service direct bank in Canada with an asset base of about CAD$5.8 billion as of December 31, 2009. A Payments Canada member and one of our most recent direct clearers, ICICI is a wholly owned subsidiary of the Industrial Credit and Investment Corporation of India Bank Limited, which is headquartered in Mumbai, India.
Originally formed in 1955 as an initiative of the World Bank, the Government of India and Indian industry leaders to provide project financing to Indian businesses, ICICI transformed in the 1990s to a diversified financial services group offering a wide variety of products and services, including the affiliate ICICI Bank. Today ICICI is India's largest private bank with assets totaling US$103 billion and assets after tax totalling US$1,788 million for the year ended March 31, 2015.
ICICI Bank currently has a network of 4,183 Branches and 13,651 ATMs across India and has subsidiaries in the U.K. and Canada, branches in U.S., Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa; and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia.