Other types of banks Islamic banks adhere to the concepts of Islamic law . This form of banking revolves around several well-established principles based on Islamic canons. All banking activities must avoid interest, a concept that is forbidden in Islam. Instead, the bank earns profit ( markup ) and fees on the financing facilities that it extends to customers. 17
COMPANY PROFILE ICICI Bank is India's second-largest bank with total assets of Rs. 4,062.34 billion (US$ 91 billion) at March 31, 2011 and profit after tax Rs. 51.51 billion (US$ 1,155 million) for the year ended March 31, 2011. The Bank has a network of 2,556 branches and 7,440 ATMs in India, and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). Corporate Profile ICICI Bank is India's second-largest bank with total assets of Rs. 3,562.28 billion (US$ 77 billion) as on December 31, 2009. Board Members Mr. K. V. Kamath, Chairman Mr.SridarIyengar Mr.Homi R. Khusrokhan Mr. Lakshmi N. Mittal 18
Mr.NarendraMurkumbi Dr.Anup K. Pujari Mr.AnupamPuri Mr. M.S. Ramachandran Mr. M.K. Sharma Mr. V. Sridar Prof. Marti G. Subrahmanyam Mr. V. PremWatsa Ms.Chanda D. Kochhar, Managing Director & CEO Mr. Sandeep Bakhshi, Deputy Managing Director Mr. N. S. Kannan, Executive Director & CFO Mr. K. Ramkumar, Executive Director Mr.SonjoyChatterjee, Executive Director Mr. K. V. Kamath is a mechanical engineer and did his management studies from the Indian Institute of Management, Ahmedabad. He joined ICICI in 1971 and worked in the areas of project finance, leasing, resources and corporate planning. In 1988, he joined the Asian Development Bank and spent several years in south-east Asia before returning to ICICI as its Managing Director & CEO in 1996. He became Managing Director & CEO of ICICI Bank in 2002 following the merger of ICICI with ICICI Bank. Under his leadership, the ICICI Group transformed itself into a diversified, technology-driven financial services group, that has leadership positions across banking, insurance and asset management in India, and an international presence. He retired as Managing Director & CEO in April 2009, and took up the position of non-executive Chairman of ICICI Bank effective May 1, 2009. He was the President 19
of the Confederation of Indian Industry (CII) for 2008-09. He was awarded the Padma Bhushan by the President of India in May 2008. He was conferred the Lifetime Achievement Awards at
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