TORONTO, Nov. 21 /CNW/ - ICICI Bank Canada is continuing its aggressive
growth strategy with the opening of its seventh branch, a new location in
The bank has rolled across Canada, seeing its customer base grow 200%
between 2006 and 2007 and growing its asset base to over $2.5 billion during
the same period.
"This new branch represents ICICI's commitment to delivering caring
customer service for our clients," says Hari Panday, President and CEO of
ICICI Bank Canada. "Our model of combining branch locations with our direct
banking focus has made us the bank of choice for some 183,000+ customer
accounts in just four years." ICICI Bank Canada currently has customers in
every province across the country.
This rapid pace of growth is directly related to the bank's expansion
strategy through direct banking and its branch network. When the Mississauga
branch, located at Hurontario and Dundas Streets in the vibrant Cooksville
area, opens its doors on Thursday, it will be the fifth branch in the Greater
Toronto Area. The bank also has two branches in British Columbia and plans to
open more branches across the country in 2008.
Since inception, ICICI Bank Canada has created a strong presence as it
has widened its offerings in Canada. With six languages available on its ABMs,
staff speaking more than 15 languages, and consistently offering among the
highest deposit rates in the country, ICICI Bank Canada has become a
competitive institution appealing to the multicultural communities across
Canada. The bank now offers 4.85 percent on a 1-year GIC, which is available
through the branch network, online or by phone.
The growth at ICICI Bank Canada has accelerated as the bank has expanded
its product offering, now offering Savings and Chequing Accounts in Canadian
and US dollars, Term Deposits in Canadian and US dollars, RSPs, Commercial
Loans and Money Transfers to India, Bangladesh and Sri Lanka. As the bank
continues to expand its branch network and invest in its online platform,
ICICI will continue to grow its base of customers across the country.
About ICICI Bank Canada:
ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited, is a
full-service direct bank with an asset base of over C$2.5 billion, offering a
comprehensive suite of personal, commercial and cross-border banking products
and services. The Bank is supported by a state-of-the-art electronic banking
platform (icicibank.ca), a 24-hour toll-free customer contact centre and
proprietary ABMs. It has established its branch network in the Greater Toronto
Area (Brampton, Downtown Toronto, Gerrard Street East, and Scarborough) and
Greater Vancouver Regional District (Downtown Vancouver and Surrey).
About ICICI Bank Limited:
ICICI Bank Limited is India's second largest bank, and largest private
sector bank in the country, with an asset base of over US$79 billion. ICICI
Bank Limited serves a growing customer base through a multi-channel access
network of over 950 branches and 3,300 ABMs, call centers and internet banking
(icicibank.com). ICICI Bank Limited was awarded "Best Bank of the Year 2006"
in India by Business India - the Magazine of the Corporate World. ICICI Bank
currently has subsidiaries in the United Kingdom, Russia and Canada, branches
in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai, and representative
offices in the United States, United Arab Emirates, China, South Africa and
Bangladesh. The UK subsidiary has established a branch in Belgium.
For further information:
For further information: Media Contact, Shawna Thibodeau, Hyperactive
Communications, (905) 278-5500 x226 or (647) 242-4496,