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3project Report On ICICI Bank
3project Report On ICICI Bank
ASSIGNMENT
OF
ICICI BANK
Submitted to-
Prof. Kedar bhatt
Submitted by –
Kadiwala Ahemad ali
M.B.A. (F.S.)
Sem – 1
Founded : 1994
Website : www.icicibank.com
ICICIC BANK was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly owned subsidiary. ICICI’s shareholding in ICICI Bank was
reduced to 46% through a public offering of share in India in fiscal 1998, an equity offering
in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank’s acquisition of Bank of
Madura limited in an all stock amalgamation in fiscal 2001, and secondary market sales by
ICICI to institution investor in fiscal 2001 and fiscal 2002. ICICI was formed in 1995 at the
initiative of the world Bank, the Government of India and representative of Indian Industry.
The principal objective was to providing medium term and long term project financing to
Indian business.
ICICI Tower,
4th floor, South tower,
Bandra – Kurla complex,
Bandra(east),
Mumbai – 400 051
ICICI Bank is India’s largest private sector Bank with the total
assets of Rs. 5946.42 billion (us$ 99 billion) at march 31, 2014 and profit after tax Rs. 98.10
billion (us$ 1637 million) for the year ended March 31, 2014.
To be the leading provider of financial services in India and a major global bank.
Mission:
We will leverage our people, technology, speed and financial capital to:
Be the banker of first choice for our customer by delivering high quality, world-class
products and services.
Expand the frontiers of our business globally
Play a proactive role in the full realisation of India’s potential
Maintain a healthy financial profile and diversify our earning across business and
geographies.
Contribute positively t the various countries and markets in which we operate.
Create value for our stakeholders.
Retail Banking
Wholesale Banking
Project financing and Special Asset Management
International business
Corporate centre
Executives-
Mohan N. Shenoi
K. S. Harshan
R. B. Nirantar
A. Hari Prasad
M. S. Annigeri
Ashok Kumar Patni
Sateesh D. Mahale
R. Jayaprakash
Ujjal Choudhury
Company Secretary-
Bhashyam Seshan
Statutory Auditors-
Awards – 2015
ICICI Bank won an award in the BFSI Leadership summit and awards in the ‘best
phone Banking for end-users’ category.
ICICI Bank won six categories and was the first runners-up in one category among
private sector Bank at IBA Banking technology Awards, 2015. The Bank was
declared winner in the six categories of best technology Bank of the year, Best use of
data, best use of data, best risk management Initiatives, Best use of technology in
training, Human resources and e-learning initiative, Best financial inclusion Initiative
and best use of digital and channels technology. ICICI Bank was the first runners-up
in Best use of Technology to Enhance customer experience.
Awards – 2014
ICICI Bank has ranked second at the ‘national Energy conservation Award 2014’
under the office building ( less than 10 lakh kWh/year consumption) category.
ICICI Bank has been recognised as one of the ‘top companies for leaders’ in India in a
study conducted by Aon Hewitt.
IDRBT has given awards to ICICI Bank in the categories of ‘social media and mobile
banking’ and ‘business intelligence initiative’.
ICICI Bank won the awards for the best bank – Global business development(private
sector) in the Dun and Bradstreet – Polaris financial technology banking awards 2014.
ICICI Bank was awarded the certificate of recognition as one of the top 5 companies
in corporate governance in the 14th ICSI (the institute of Company Secretaries of
India) National Awards for corporate governance.
ICICI Bank was has won the corporate treasure Awards 2013 in the categories of
‘Best Cash Management Bank in India’ and ‘Best Trade Finance Bank In India.’
ICICI Bank has been adjudged winner at the express IT Innovation Awards under the
large Enterprise category.
ICICI Bank won the Asian banking and finance retail banking awards 2013 for the
online banking Initiative of the year.
ICICI Bank won the an award under the social media category at the
InformationWeek EDGE Awards.
ICICI Bank received awards for the ‘best private sector Banker’ by the Sunday
Standard Best Banker Awards 2013.
ICICI Bank has won the Trade finance magazine Awards for Excellence 2013, under
the category of ‘Asia Pacific Awards: Best Trade Bank in India’
ICICI Bank ranks 10th in Fortune India’s list of 50 most admired companies in India.
Award – 2012
ICICI Bank received the ‘Dataquest Technology Innovation Awards 2012” for data
centre migration by Dataquest.
ICICI Bank tops the list of “private sector and foreign Banks” by Brand Equity, most
Trusted Brands 2012.
It ranks 15th in the ‘top service 50 Brands”.
1. Deposit Product:-
There are including some types of deposit such as a Saving
deposit, current deposit, fixed deposit etc. ICICI Bank offers wide variety of
Deposit Product to suit your requirements. Convenience of networked
Branches/ ATMs and facility of e-channels like Internet and mobile banking,
select any of our deposit product and provide your details online and our
representative will contact you.
Saving deposit:-
ICICI Bank provide saving deposit facility to his customer
with better services and facility. Providing some specific facility and
services to reliable customer. It is providing 4% interest on saving Account
deposit. Bank giving other facility like ATM card, issuing Demand draft on
behalf of customer. ICICI Bank offers customers a power packed saving
account with a host of convenient features and banking channel to transact
through. So now customer can bank at their convenience, without stress of
waiting in queues.
Fixed deposit:-
Fixed deposit are option which help you grow your money
thus creating wealth in a safer and secure way. ICICI provides its customer
with various kind of fixed deposit facilities that are flexible and cater to
customers who have different needs and wants in their fixed deposits.
Recurring deposit:-
ICICI Bank recurring deposit are an ideal way to invest
small amount of money every month and end up with a large kitty on
maturity. High recurring billing and recurring.
Current account :-
Every business required efficient facilities to support its
business activities. ICICI Bank offers premium quality service, unfolding a
wide array of class products. With technology leadership and services the
bank is able to meet some of the most challenging financial needs of clients.
A current account is one that is required by businessman, joint stock
companies, institution, pubic authorities etc. Any business that has numerous
banking transaction need a current account as it
Salary account :-
Salary account is a feature rich corporate payroll account
with benefits for both corporate and its employees.
Security deposit:-
A few corporate stipulate to their new employee to provide
security deposit to reduced attrition. ICICI Bank’s proposal for the
employees is to keep the security deposit in the form of a fixed deposit with
bank. The employee cannot withdraw such FDs without the consent of the
company and the company has the right to withdraw the FD in the event of
employee leaving the organisation before a certain stipulated period.
Home Loan-
Interest rates of home loan have come down considerably in the
last few years. Individuals, who opted for housing loans in the years few
years gone by, are still servicing them at 17% to 21% p.a. Quite a price to
pay, since once can get a loan today for around 12% p.a. In such a case, you
can opt for a balance transfer. Under this scheme, customer can replace their
existing old high interest loan by a cheaper loan.
The result:-
A lower EMI with the same tenure
A reduced tenure with the same EMI
A reduced tenure and EMI
The same EMI and tenure but an additional amount as loan.
Car Loan-
The most preferred financier for car loan in the country network of
more than 1800 channel partners in over 170s locations. Tie-up with all
leading automobile manufacturer to ensure the best deals. Flexible schemes
and quick processing. Hassle-free application process on the click of a
mouse.
Personal Loan-
ICICI Bank personal loan are easy to get and absolutely hassle
free. With minimum documentation you can now secure a loan for an
amount up to Rs. 15 lakhs.
Loans for salaried and employed individual.
Loans are available from Rs. 20,000 to Rs. 15 Lakhs.
Repayment tenure from 12 – 60 months.
No security, collateral or guarantors required.
A balance transfer facility available for those who want to retire and
higher debt.
Gold Loan-
ICICI Bank present “Loan Against Gold and Gold Ornaments”,
designed to provide liquidity against gold and gold ornaments without
having to sell them.
Cards:-
ICICI Bank offers a variety of cards to suit your different transactional needs.
Our range included Credit card, Debut card and Prepaid cards. These cards offer you
convenience for your financial transactional like cash withdrawal, shopping and
travel. These cars are widely accepted both in India and abroad. Different Cards offer
By ICICI Bank :-
Credit Cards
Debit Cards
Prepaid Cards
Travel Cards
Unfair Metro Cards
Corporate Cards
Forex:-
Fluctuation in interest and exchange rates and the price of essential material
can rapidly turn a profitable deal into a loss. To be prepared, you need a partner with
proven expertise in international trade and finance.
Corporate Banking:-
Transaction Banking-
ICICI Bank’s transaction banking solution are designed
to facilities efficient cash flow management, comprehensive and
customised MIS and simply the workload of the account team.
Treasury Banking-
ICICI Bank has a client-centric treasury. We aim to
deliver the widest range of services customised to our client requirement.
Our focus is to be the risk solution provide of choice and the premier
market maker in the country.
Investment Banking-
ICICI Bank can guide you through the universe of
strategic alternatives – from identify potential merger or acquisition target
to realigning your business’s capital structure.
Banking services –
Locker
I-wealth
I-mobile
E-locker
I-tracker
Video Banking App
Service by Appointment
Business banking
Direct channel
Indirect channel
Direct channel
In-Shop Branches
Branches
Indirect channel
Agencies
Electronic Method
ATM
Banking by mail
POS(Point of Sale)
EFTs(electronic fund Transfer)
In touch(home link services)
Finding out opinions of existing customers about the services provided by the bank
and their suggestions for improvement in present services and introduction of new
services.
Collecting such information from the persons who are not currently customers of the
bank. All this can be done by conducting a survey of customers and non-customers of
the bank. Moreover, this process of seeking information about the market must form
an integral part of the system and must be done on a regular basis. The survey would
give valuable information about profiles and opinions of customers and noncustomers
of the bank, and it can be analyzed to find out the target group of the customers and
their felt and latent needs.
PRODUCT
PRICE
PLACE
PROMOTION
PEOPLE
PROCESS
PHYSICAL EVIDENCE
PRICING STRATEGIES
As it has been mentioned before, the price is a very important part of the marketing mix. If a
product is not given a correct price, this may affect the sales and may lead to the product’s
failure. The price and sales of the product are therefore related one to another. There are 6
main strategies to settle the price for a product. These are:
2. The settlement of the prices for “taking the cream” – this strategy may be used for
products that are very new and of high quality; it means the settlement of the price when the
product is freshly introduced on the market to “take the cream” of the demand for that
product, maximizing the profit to cover the research and development expenses, after which,
later, in time, the price may be reduced to increase the demand;
3. The settlement of the price depending on the competition – this strategy takes into
consideration the price the competition practices, thus the price will be similar to the one of
the competition, but will allow the covering of the expenses and the profit margin;
4. The settlement of the price on the market – the price of a product is settled depending
on the price of a similar product already existing on the market. The difference in comparison
to the settlement of the price depending on the competition is that the settlement of the price
on the market might not cover the production expenses of the product;
5. The settlement of the price depending on the value – this strategy is based on the
evaluation of the clients’ perception vis-a-vis the value of the product answering the question
“How much a client would pay for this product?”, this strategy is then the most oriented
towards marketing.
6. The settlement of the price to penetrate – the bank will settle a low price for a product
with the purpose to win fast a big quota of the market and thus to realize a fast and substantial
penetration.
PROMOTION STRATEGY
Marketing depends heavily on an effective communication flow between the company and
the customers. Manufacturing a product and making it available in the market is only a part
of the Bankers job. It is equally important, or perhaps more desirable, to make it known to the
customers that the product is available in the market. In a competitive market, where several
firms are striving to win over customers, it is not enough if the availability of a product or
service only is made known to customers. It is also essential to propagate the distinctive
features specifications of the product. The process does not end here. The banks should also
get feedback on how the customers accept its products through an effective, continuous, and
two-way flow of information between the firm and the customers.
In banking sector marketing communication techniques are especially important, they help to
create powerful images and a sense of credibility, confidence and assurance. Therefore it is
essential to evaluate all the elements of communication mix that are used in banking service
sector:-
Advertising: -
Advertising plays a major role in promoting a bank’s products and services on a large scale.
However developing advertising campaigns for services is a difficult aspect because of the
intangible attribute of service. Banks should involve front line employee in designing the
Sales Promotion: -
Sales promotion is often used by the companies to improve the sales of a product or service
either by encouraging the existing customers to use the service more frequently or by
attracting new customers to use their service. Banks also aim to pull customers to use their
services by attracting them with free offers, coupons, cash discounts, warranties; prizes etc.
Personal Selling:-
Due to the characteristics of banking services, personal selling is the way that most banks
prefer in expanding selling and usage of their services .It occurs in two ways. First occurs in a
way that customer and banker perform face to face interaction with each other at branch
office. In this process personnel, bank employees, chief and office manager, take part in
selling. Second occurs in a way that bank’s representative go to customer’s places. Bank’s
representatives are specialist in bank’s services and have update knowledge about the banks
services to be offered and they shape the relationship between bank and customer.
Direct Marketing:-
Direct Marketing involves contacting the existing and potential customers directly through
telemarketing, direct mail, and online marketing (e-mail and official websites) without
employing any intermediaries in the process. The customers of banking service need some
specific information or a customized change in the offering of the bank, so that the bank
personnel can best satisfy him while the intermediaries might not be in a position to respond
to customer’s satisfaction.
PLACE:
The decision regarding location is very much concerned with the selection of sites from
where the delivery of services takes place. The accessibility and the availability form an
important base for location of service premises. Accessibility refers to convenient with which
a service can be purchased, used or received. On the other hand availability refers to the
extent to which a service is obtained or capable of being purchased, used or received.
PEOPLE: -
In an organization people play an important role by adopting the best practices. In the
banking activities every service is linked with the customers hence to promote the products
and business it is essential to maintain the proper relations with customers, there fore it can
considered that customers and employees are the both interconnected for the banking
prospectus.
a. High contact personnel: They are required when the physical presence and the interaction
of the customer with the employees is for longer times.
b. Low contact personnel: They are required when the physical presence and the interaction
of the customer with the employees is for lesser times.
d. Non Professionals: they are people like courier delivery boy, waiter, etc.
e. Non contact employees: Those who contribute to the service delivery but do not come in
contact with customer. They are actually support personnel.
PROCESS :
The service process refers to how service is provided or delivered to a customer. Delivery
system is a creative process. In order to achieve economies of scale and perform consistently
the operation people would prefer to processing a batch while marketing would prefer to cater
to individuals so that the customers feel that they are treated as special. Factors such as
customer participation, degree of customer contact, location of service delivery and
complexity of services are considered in the service process design and implementation.
PHYSICAL EVIDENCE :
Generally a service transaction involves the interaction of the service provider with the
customer in a service environment. Physical evidence is termed as the social environment
along with the tangible cues. Physical evidence is any tangible commodities that facilitate
performance communication of the service. Physical evidence includes all the efforts taken
by the service provider to tangibles their services. They includes,
(a) Physical facilities.
(b) Physical environment
(c) Social settings.
Physical facilities: On the basis of Physical evidence like building, furniture, equipment,
stationery, etc are the influencing factors for the potential customers to form an impression
about the service organization.
Physical environment: Physical setting or the service environment within which the service
takes place influences consumer expectation of service quality and satisfaction.
Ambience: The ambience of physical setting includes temperature, lighting, noise, music,
scent and colour.
Decors and artifacts: Sign, symbol and artifacts are important component of décor.
The main competitor of is ICICI Bank because this bank is totally taken by government after
this bank HDFC Bank is the main competitor of ICICI Bank. There are different types of
segment, investment and services, demat NRI services. The competitor from the operation
segment are state bank of India, axis bank, HDFC etc. from the investment and service sector
HDFC standard life insurance corporation, bharti axa life insurance, reliance life insurance
corporation. There are some other company who also compete with the ICICI Bank after the
SBI, HDFC is the main competitor of ICICI Bank.
There are some other bank which gives challenging some how in the banking and services
sector they are :-
Allahabad
Andhra bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara bank
Dena bank
IDBI bank