ICICI Bank Canada
Encyclopedia
ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited
, which has its headquarters in Mumbai
, India
.
ICICI Bank Limited is India's largest private sector bank as measured by asset base as of December 31, 2009 and the second largest bank in the country with consolidated total assets of about US $103 billion as of December 31, 2009[1]. ICICI Bank Limited’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank Limited’s presence currently spans 19 countries.
Established in December 2003, ICICI Bank Canada is a full-service direct bank in Canada with an asset base of about C $5.8 billion as of December 31, 2009[2]. It carries on business under Canada’s Bank Act
and operates under the supervision of the Office of the Superintendent of Financial Institutions
. It is a member of the Canadian Bankers Association
, ("CBA") as well as the Canada Deposit Insurance Corporation
("CDIC"). CDIC insures eligible Canadian dollar deposits at member institutions having tenures of up to five years (up to $100,000 per depositor).
2004: ICICI Bank Canada launched online banking platform that allows it to serve customers across the country.
2005: ICICI Bank Canada launched its Financial Advisor Services channel.
2008: ICICI Bank Canada relocated its head office to the Don Valley Business Park in Toronto after outgrowing its initial office space.
ICICI Bank Canada was honoured the Canadian Helen Keller Centre Award.
Sriram H. Iyer, ICICI Bank Canada’s President and CEO, was named a 2008 recipient of Canada's Top 40 Under 40TM.
ICICI Bank
ICICI Bank Ltd. is India's second largest financial services company headquartered in Mumbai, India. It 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...
, which has its headquarters in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
.
ICICI Bank Limited is India's largest private sector bank as measured by asset base as of December 31, 2009 and the second largest bank in the country with consolidated total assets of about US $103 billion as of December 31, 2009[1]. ICICI Bank Limited’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank Limited’s presence currently spans 19 countries.
Established in December 2003, ICICI Bank Canada is a full-service direct bank in Canada with an asset base of about C $5.8 billion as of December 31, 2009[2]. It carries on business under Canada’s Bank Act
Canada Bank Act
The Bank Act is an Act of the Government of Canada respecting banks and banking.The Act groups banks in three schedules. Schedule I banks are banks allowed to accept deposits that are not a subsidiary of a foreign bank, Schedule II banks are banks allowed to accept deposits that are a subsidiary...
and operates under the supervision of the Office of the Superintendent of Financial Institutions
Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system"...
. It is a member of the Canadian Bankers Association
Canadian Bankers Association
The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
, ("CBA") as well as the Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...
("CDIC"). CDIC insures eligible Canadian dollar deposits at member institutions having tenures of up to five years (up to $100,000 per depositor).
History
2003: In November, ICICI Bank Canada was incorporated as a Schedule II bank. In December, the Head Office and the Downtown Toronto (Ontario) Branch were opened.2004: ICICI Bank Canada launched online banking platform that allows it to serve customers across the country.
2005: ICICI Bank Canada launched its Financial Advisor Services channel.
2008: ICICI Bank Canada relocated its head office to the Don Valley Business Park in Toronto after outgrowing its initial office space.
Awards
2009:ICICI Bank Canada was honoured the Canadian Helen Keller Centre Award.
Sriram H. Iyer, ICICI Bank Canada’s President and CEO, was named a 2008 recipient of Canada's Top 40 Under 40TM.
External links
- ICICI Bank Canada www.icicibank.ca