ICICI Shares

History of ICICI Group

ICICI began in 1955 as a development finance institution promoted by the World Bank, the Government of India, and the Indian industry. Its mandate was to fund long-term projects that could help build modern India. Through the 1980s, it focused largely on project finance. In the 1990s, as India liberalised, ICICI reshaped itself into a diversified financial services group to serve retail and corporate customers. In 1994, ICICI incorporated ICICI Bank to enter commercial banking.

A major step came in 2001–2002 when the Boards approved merging ICICI Limited and two retail finance subsidiaries into ICICI Bank. With court and regulatory approvals completed in April 2002, the group unified lending, deposits, and retail finance under one bank, improving scale and efficiency. Since then, ICICI Bank has acted as the holding hub for multiple subsidiaries and associates across life insurance, general insurance, asset management, home finance, and international banking.

ICICI Group’s Sector Presence

• Banking: ICICI Bank serves individuals, small businesses, and corporates with savings and current accounts, loans, cards, digital banking, trade finance, and treasury services in India and through overseas arms like ICICI Bank UK and ICICI Bank Canada.

• Insurance: The group participates in both life and non-life insurance. ICICI Prudential Life Insurance offers term, savings, and retirement solutions. ICICI Lombard General Insurance covers motor, health, property, and commercial risks. Together, they extend risk protection to households and enterprises.

• Investments and Asset Management: Through ICICI Prudential Asset Management, investors access mutual funds and portfolio solutions. ICICI Bank also provides investment banking and capital markets services to corporate clients.

• Housing Finance and Others: ICICI Home Finance supports home buyers and developers. International subsidiaries and specialised entities round out the offering, allowing the group to serve customers across life stages and financial goals.

About ICICI Group of Companies

ICICI Bank – India’s leading private sector bank by customer reach, the anchor of the group. It has a broad shareholder base with no “promoter” holding; ownership is widely dispersed among FIIs/FPIs, mutual funds, insurers, and the public.

ICICI Prudential Life Insurance – A joint venture of ICICI Bank and Prudential. It offers term plans, ULIPs, savings and annuity products, and manages large, long-term assets for policyholders.

ICICI Lombard General Insurance – A major non-life insurer covering retail and corporate risks, with performance shaped by claim cycles and regulatory accounting norms.

ICICI Prudential Asset Management (ICICI Pru AMC) – Among India’s prominent mutual fund houses. Prudential has explored a potential listing of this JV; ICICI Bank has indicated it intends to remain the majority owner, subject to markets and approvals.

ICICI Securities – The group’s brokerage and investment platform became a wholly owned subsidiary of ICICI Bank in March 2025 after a court-cleared delisting and share-swap, streamlining the group structure.

ICICI Home Finance, ICICI Bank UK PLC, ICICI Bank Canada – Focused entities that extend the group’s reach in housing finance and cross-border banking.

Disclaimer: By referring to any particular sector, Kotak Neo does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing. Such representations are not indicative of future results. The securities are quoted as an example and not as a recommendation.