ICICI Bank Canada HiVALUE Chequing Account Offers High Interest and Tangible Consumer Value



    TORONTO, Sept. 25 /CNW/ - ICICI Bank Canada has announced the launch of
its new HiVALUE(R) Chequing Account. The Canadian Dollar HiVALUE Chequing
Account offers up to 1.5% interest on a customer's balance, one of the highest
interest rates currently available in Canada for a comparable chequing
account.
    "This is a very competitive product for ICICI Bank Canada," says Mr.
Sriram H. Iyer, President and CEO of ICICI Bank Canada. "With the HiVALUE
Chequing Account, ICICI Bank Canada has further demonstrated our commitment to
helping Canadians keep their money in their pockets while earning some
interest as well."
    The Canadian Dollar HiVALUE Chequing Account offers 1.0% interest on
balances between $1,000 and $2,500 and 1.5% interest on balances over $2,500.
The tiered interest is calculated daily and paid monthly.
    In addition to the attractive interest features, the new Canadian Dollar
HiVALUE Chequing Account also offers additional significant value with no
transaction fees. It offers free and unlimited in-branch debit transactions,
Interac(R) direct payments, online bill payments, and transactions conducted
at over 2,200 ABMs on the Exchange(R) network. The account requires no minimum
balance and the first 50 cheques are free. Until November 30, 2008, it also
offers free money transfers to Bangladesh, China, Ghana, India, Nepal,
Philippines, Sri Lanka or Vietnam.
    "ICICI Bank Canada offers a full suite of personal financial services,
which includes our flagship online product, the high interest HiSAVE(R)
Savings Account," adds Mr. Iyer. "This account currently offers 3.4% on
Canadian balances and 2.5% interest on U.S. balances with no maintenance fees
and no minimum balance required."
    ICICI Bank Canada has experienced substantial growth since opening in
December 2003. In the last five years, the Bank has acquired over 240,000
customer accounts through online, telephone and in-branch registrations across
all provinces and territories in Canada.
    The HiVALUE Chequing Account can be opened by downloading an application
form from www.icicibank.ca to submit by mail or by visiting any of the Bank's
nine branches in the Vancouver, Calgary and Toronto areas.

    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$4.3 billion as of June
30, 2008. It offers 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 (www.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, Don Valley Parkway,
Downtown Toronto, Gerrard Street East, Mississauga and Scarborough), Greater
Vancouver Regional District (Downtown Vancouver and Surrey), and Calgary.

    About ICICI Bank Limited
    ------------------------
    ICICI Bank Limited (NYSE:  IBN) is India's largest private sector bank and
the second largest bank in the country with consolidated total assets of about
US $113 billion as of June 30, 2008. ICICI Bank'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's presence
currently spans 19 countries, including India.




For further information:

For further information: Media Contact: Lisa Kember, Hyperactive
Communications, (905) 278-5500 x222, lkember@gethyperactive.com

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ICICI BANK CANADA

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