ICICI Bank Canada opens seventh branch in Canada

    TORONTO, Nov. 26 /CNW/ - ICICI Bank Canada opened its seventh branch, the
fifth branch in the Greater Toronto Area. This new location in Mississauga at
Hurontario and Dundas Streets in the vibrant Cooksville area spells the next
phase of ICICI's dramatic growth.
    This rapid pace of growth is directly related to the bank's expansion
strategy through direct banking and its branch network. The bank also has two
branches in British Columbia and plans to open more branches across the
country in 2008.
    Since ICICI Bank Canada first opened in 2003, it has grown to over $2.5
billion in assets and more than 183,000 customers. The rapid growth can be
attributed to the bank's commitment to customer value, with its best-in-class
4.85% interest on their 1-year GIC and 4.50% on their HiSAVE Savings Account.
The ABM machines also offer six languages and the staff have multi-lingual
capabilities, reflecting the diversity of Canadian culture.
    ICICI Bank Canada is looking forward to expanding and relocating their
corporate head quarters in early 2008.

    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, Mississauga and
Scarborough) and Greater Vancouver Regional District (Downtown Vancouver and

    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 Canada, Russia and the United Kingdom, branches
in Bahrain, Dubai, Hong Kong, Qatar, Singapore and Sri Lanka, and
representative offices in Bangladesh, China, Indonesia, Malaysia, South
Africa, Thailand, United Arab Emirates and the United States. The UK
subsidiary has established a branch in Belgium.

    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/

For further information:

For further information: Media Contact: Shawna Thibodeau, Hyperactive
Communications, (905) 278-5500 x226, sthibodeau@gethyperactive.com

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