Stock Review: ICICI Bank

 

 

Another finance institution that made the most of reforms is ICICI Bank. It is today the largest private sector bank, having reached the milestone in only seven years since 2000. It brought in a retail revolution in the country that other banks emulate. In less than a decade, it built up the largest retail book. It was second only to HDFC in home loans. It also was quick to set up subsidiaries in the UK, Canada and Russia, and branches in the US, Hong Kong, Singapore and Bahrain, among others. In the banking industry as a whole, it is second only to SBI. It had total assets of Rs 3,63,400 crore ($81 billion) as on March 31, 2010, and profit after tax of Rs 4,025 crore ($896 million) in 2009-10.