Thanks to such developments, three quarters of transactions now take place through electronic channels.
Innovation was also brought to rural banking with the development of multi-application cards, which will allow ICICI to extend services to the micro customer. This is just one of the components of the bank’s expansion plans in rural areas, which has the aim of boosting the rural economy while building a sustainable business model for the bank.
“The secret of our success is the outstanding human talent that we have and the ability to leverage that talent to enhance value. This award is a recognition of the contribution of the ICICI Bank team,” says K V Kamath, managing director and CEO. “While we continue to enhance our leadership position in retail credit across the full spectrum of products, we have also deepened our relationships with the corporate sector. We maintain our leadership position in the private sector in life and non-life insurance products. We have established a substantial international footprint on which we can now build to position ourselves in the global markets.
“A critical factor in the long-term sustainability of social development and economic prosperity in India is bringing the benefits of economic growth to rural India. We see rural markets as the next horizon of growth and are creating a holistic proposition to address this opportunity.”
