In July 2007 Dubai International Capital acquired a 2.87% stake in ICICI Bank Limited (‘ICICI’), the leading Indian financial services firm. The strategic investment represents Dubai International Capital’s first investment in the Indian sub-continent. ICICI Bank Limited is India’s second-largest bank with total assets of US$79 billion as of March 31, 2007 and the most sizeable bank in India in terms of market capitalisation. ICICI offers financial products and services in the areas of commercial banking to retail and corporate customers, treasury and investment banking. Through its subsidiaries the company also offers insurance and asset management products. ICICI Bank is a leading player in the retail banking market and services its large customer base through a network of over 745 branches and extension counters, 3.340 ATMs, call centres and internet banking to ensure that customers have access to its services at all times.
(www.icicibank.com)
