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The Complete Technical Analysis Business Model Of ICICI Bank You Must Know!

Updated on: Sep 20, 2021
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If you are looking for a detailed explanation of the business model of ICICI, you are at the right place!

ICICI Bank is a dominant private sector bank in India – It is known as the best bank for the customers and employees. ICICI Bank was incorporated in June 1994, the time when it was the start of the commencement of Indian private banks in the country. 

Their vision is to be the main company of economic offerings in India and a prime worldwide bank. The Mission of ICICI is to leverage our people, technology, pace and economic capital and to be the banker of the primary preference, for their clients through turning in high-quality, world-magnificence products, and services.

The business model of ICICI Bank will cover the Capitals, Value drivers, Core Business activities, and Outcomes in addition to it the business model will also cover the business strategy of ICICI Bank.


About ICICI Bank

Industrial Credit and Investment Corporation of India (ICICI) Bank Limited comes under the Indian financial services company category. ICICI Bank has a registered office in Vadodara, Gujarat, the place where the ICICI Bank was incorporated, and its corporate office in Mumbai, Maharashtra. Its consolidated total assets were Rs. 14.76 trillion on September 30, 2020. At present, the bank has a connection of 5,288 branches and 15,158 ATMs across the country. ICICI Bank is perfectly working in 17 countries.

Now, let us start studying the business model of ICICI. We first have the product services and payment gateway of ICICI Bank.

Business Model of ICICI Bank

A private bank created out of the mixed venture between public and private funding, the business model of ICICI is a hallmark of public good done without compromising profits. To start decoding the business model of ICICI, let us start by taking a look at their product and service offerings.

1. Products of ICICI Bank:

  • Saving account 
  • Family wealth account
  • Home loans 
  • Car loans 
  • Personal loans
  • Foreign exchange services
  • Demat account 
  • Investment
  • Insurance
  • Wealth Management
  • Rewards
  • Cards

2. Services of ICICI Bank:

  • Mutual fund transaction platform
  • I-wealth
  • Lockers
  • I-mobile
  • Smartvault
  • E-locker
  • I-track
  • Video banking app

3. Payment Services of ICICI Bank:

  • Money transfer –  ICICI Bank Pay, UPI, NEFT, IMPS, and ForeignTransfer 
  • Utility payments
  • Recharges
  • Loan /card payment
  • Payment services
  • Tax and GST

Now that we know about ICICI bank, let’s take a look at the Business Model of ICICI Bank.

4. Business Model of ICICI Bank – Capitals

Take a look at a brief review of the Assets and liabilities of ICICI Bank on 5 types of Capitals:

Financial Capital: ICICI Bank is maintaining a stupendous balance sheet and operates with business continuity, prominent growth, and good shareholder returns.

Human Capital: ICICI Bank has a powerful workforce with dynamic skill sets and multi-valuable experience.

Intellectual Capital:  ICICI Bank can stay unconventional and build products and services that give a higher level of experience to the customers.

Manufactured Capital: Numerous ATMs and digital channels work as touchpoints for the customers of ICICI Bank. It provides a seamless network for the customers.

Social and Relationship Capital: The paramount effort of ICICI Bank towards social empowerment and the financial ecosystem is clearly within the reach of all the employees and customers.

Natural Capital: ICICI Bank also has an impact on natural resources either through business focus or operations.

5. Business Model of ICICI Bank – Value Drivers

Value drivers are vital in the corporate world. Let’s have a glance at the 5 types of categorized values of ICICI Bank:

Financial Capital: • ICICI Bank has a resilient balance sheet and also astounding capital levels

  • The bank is maintaining an astonishing funding profile • The bank is speedily converting its portfolio into high quality so that shareholders of the ICICI bank could get good benefits.

Human Capital: •ICICI bank is mainly known for its good quality of the atmosphere in the bank and good human behaviour towards its employees and customers. All the departments in the banks are United and work as a centric culture. The bank provides from time to time training, a healthy environment, and good employee engagement.

Intellectual Capital: Timely adoption of emerging technologies which lead to doing innovation • Augmenting current digital products • Finding new ways to do mutually beneficial partnerships • Modernizing traditional processes of Banking and making them smoother and easier for better  customer experience

Manufactured Capital: •ICICI bank is making the best possible combination of the physical and digital channels to enable seamless services for better customer experience • Getting adapted to digital platforms early helped ICICI Bank to save cost and make the process easy and smooth for the customers. 

Social and Relationship Capital: • Active in social activities and welfare of societies through the ICICI Foundation for Growth of society • Inclusion of financial services in rural and unbanked areas • Helping rural women empowerment and small enterprises in rural and backward areas.

Natural Capital: Developing environment-friendly projects, inspecting properly the risk-return of assessments • Encouraging staff and customers to use energy efficiently • Taking up Environment-friendly initiatives.

6. Business Model of ICICI Bank – Core Business Activities 

Core business activities are the activities that show the performance of the bank. Here’s have a look at how ICICI bank is performing its core business activities by providing the following products and services :

  • Providing savings products.
  • Providing credit facilities to help consumption and better flow of economic activities.
  • Enhancing business capabilities by doing proper investments and strategic partnerships. 
  • Facilitating payments and transactions seamlessly.
  • Enabling wealth creation and wealth management.

7. Business Model of ICICI Bank – Strategic Focus Areas for Business

  • The bank is focusing on customer satisfaction, creating values and deeper relationships with customers.
  • In the operating-profit area, the risk of the bank is balanced and calibrated.
  • The bank is working on the principles of ‘One Bank, One ROE’ and ‘Fair to Customer, Fair to Bank’.
  • The bank is constantly investing in technologies, exploring innovative ideas, and gaining partnerships to sustain the lead.
  • The bank is maintaining comfortable levels of capital at all times.

8. Business Model of ICICI Bank – Growth Drivers

  • A strong franchise and brand drive customers to ICICI Bank.
  • Constant development in the field of products and services.
  • Massive risk management system and compliance culture.
  • Growing opportunities in the Indian economy.

9. Business Model of ICICI Bank – Outputs

  • Net Interest Income: ₹389.89 billion during fiscal 2021
  • Fee Income: ₹126.59 billion during fiscal 2021
  • Total Loans and Advances: ₹7,337.29 billion at March 31, 2021
  • Deposits: ₹9,325.22 billion at March 31, 2021

10. Business Model of ICICI Bank – Guardrails of Risk & Compliance

  • Credit
  • Market
  • Liquidity
  • Operational
  • Information Technology
  • Cyber
  • Legal
  • Reputation
  • Compliance

After a deep insight into the capital’s, value drivers, and core business activities, We have the outcomes of ICICI Bank.

Outcomes of ICICI Bank

Financial Capital

  • Bank’s core operating profit is raised by 16.9% in fiscal 2021 on a year-on-year basis.
  • Bank’s net NPA ratio fell from 1.41% on March 31, 2020, to 1.14% on March 31, 2021.
  • Equity of the ICICI Bank is increased up to ₹150.00 billion through Qualified Institutions Placement to build up the balance sheet.
  • The bank is ready with the Covid-19 relaxation provision of ₹74.75 billion.
  • The credit cost of the ICICI Bank (excluding Covid-19 related provisions) as a percentage of average advances at 1.75% in fiscal 2021 (target of 1.2%-1.3% in a normal period of operation)
  • The bank’s consolidated ROE in fiscal 2021 is 13%.

Human Capital:

  • Additional care and support were provided to employees of the bank in the covid-19 pandemic.
  • The bank managed to reinforce collaboration among cross-functional departments.
  • New talents are always given a chance to show their skills. It keeps motivating the employees which lead to better results.
  • Proper training and guidance are given to employees to develop new skills.
  • Banking is working with series ‘12×12 Ignite’ to keep employees’ level maintained in the most demanding domains including digital transformation, data science, and behavioural economics.
  • The total employee strength of the bank is 98,750 on March 31, 2021

Intellectual Capital

  • Bank worked perfectly under the Covid-19 pandemic with the online working system with a well-structured delivery of banking services digitally through the year; ICICI STACK – majorly known for enabling the advance digitalization platforms.
  • The bank is always up to take digital initiatives which lead to generated services like ‘iMobile Pay’, ‘WhatsApp Banking’, ‘CorpConnect’ and ‘DigitalLite’.
  • The bank has done outstanding growth in digital sourcing and transactions in fiscal 2021.
  • Create an Enterprise Architecture framework across digital platforms, data and analytics, microservices-based architecture, cloud computing, cognitive intelligence, and other emerging technologies

Manufactured Capital

  • Looking at the Covid situation the bank has enabled Mobile ATMs and deployed them for the benefit of the public to maintain social distance and covid appropriate behaviour.
  • The bank has drastically worked on customer services by providing help 24*7 in a simplified process to respond to the customers in the best possible minimum time.
  • The 24-hour processing facility is available by the bank in the field of NRI and Trade services, tax payments, and  3-in-1 account opening.
  • In this challenging situation also during the months of lockdown in April-May 2020, the bank has worked with more than 97% of total branches all over the nation.

Social and Relationship Capital

  • In the covid-19 pandemic, the bank has worked tremendously to help needy people during this bad situation through the ICICI foundation covering 36 states and UTs with over 550 districts.
  • The bank is always up to fulfil CSR; this year ICICI Bank has provided a fund of ₹2.00 billion for corporate social responsibility.
  • ICICI Bank took up crucial topics on water conservation, ecological balance, and efficient farming techniques through ICICI Foundation focussing. The bank is constantly helping and promoting women’s entrepreneurship.
  • The bank is putting great efforts to increase the financial inclusion services in rural and backward areas.

Natural Capital

  • ICICI Bank’s lending to the renewable energy sector with an outstanding portfolio of ₹31.50 billion on March 31, 2021.
  • Sustainable financing practices under the Social and Environmental Management Framework.
  • 97.5 cups of new renewable energy capacity added at the Bank’s premises.

Without any further ado, let’s directly dive into the business strategies of ICICI Bank.

Business Strategies of ICICI Bank

The business strategy of ICICI Bank is to grow core operating profits within the guardrails of risk and compliance. Making the right use of technologies at the right time is making the bank become the top private bank in the country.

The bank is leveraging its technological capabilities and astounding offers of financial products and services to create value for its customers. Additionally, this bank has always performed well to be always customer-centric by providing the best service across the country.

Let us have a brief understanding of the key business segments of ICICI Bank.

Key Business Segments of ICICI Bank

  • Retail and Rural Banking
  • Rural and Inclusive Banking
  • Small & Medium Enterprises and Business Banking
  • Wholesale Banking
  • Transaction Banking
  • International Business
  • Government Banking

Open to the last aspect, we have the reasons for the success of ICICI Bank.

Reasons For Success

  • Customer Centricity
  • Technology at the core
  • Architecting for tomorrow
  • Focus on Data, FinTech, APIs, and Ecosystems
  • Cyber Security
  • Doing business responsibility. 

Here we see that ICICI Bank has followed tremendous ways to keep itself at the top of all the private banks across the country.

Therefore with this, we come to an end of the Business Model of ICICI Bank.



ICICI Bank has provided astounding promising services to its customers. Being a private bank, the bank has earned tons of trust from its customers by following customer-centric principles which helped the bank to gain a huge customer base across the country.

Using technologies in the right way and at the right time and making banking facilities so easy for customers by optimizing digital platforms, ICICI Bank took the lead from all the other banks in the country. 

The bank emerges with various financial and banking products and services that enable it to develop its business seamlessly. ICICI Bank facilitates the banking services to not only urban areas but also diversified it to rural areas across India. ICICI Bank is holding a very powerful position in private banks across the country. The bank is also known for fulfilling all the CSRs. 

ICICI Bank is following a subtle business model of banking and marketing which helped it to become the best private bank in the country.

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Aditya Shastri

Lead Trainer & Head of Learning & Development at IIDE

Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs......[Read full bio]


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