ICICI Bank was set up by the Industrial Credit and Investment Corporation of India Limited in 1994. By 2002, ICICI Limited, ICICI Capital Services Limited and ICICI Personal Financial Services Limited were merged to form ICICI Bank.

ICICI is a leading player in retail banking and has over 17 million retail customer accounts. It has a network of over 610 branches and extension counters and has 2200 ATMs. Its assets were worth US$ 56 billion as on March 31, 2006. ICICI Bank had set up its international banking group in 2002 to meet the worldwide needs of its clients and to leverage its domestic banking strengths.