Something about ICICI

· ICICI Bank Launches new line of Credit Card on the American Express® Network

ICICI Bank, India’s second largest bank and American Express, one of the world's leading financial services companies, announced the launch of the “ICICI Bank Ascent American Express® Card”. The card offers customers a powerful value proposition of accelerated rewards and exclusive privileges for the sophisticated, affluent Indian consumer. They also introduced the ICICI Bank Business Ascent American Express® Card designed exclusively for entrepreneurs who will benefit from the Business Advantage Programme featuring attractive savings on business related expenses.
The ICICI Bank Ascent American Express Card comes with a comprehensive rewards programme that offers up to 6% of the value of transactions on the card. ICICI Bank and American Express have partnered with Taj Hotels Resorts and Palaces, Yatra.com and Provogue to create a world class rewards programme and attractive year long privileges to card members. The card also offers a personal concierge service, comprehensive travel insurance and the American Express SelectsSM programme providing exclusive discounts and privileges to card members in India and when travelling overseas.


· ICICI Bank Opens New York Branch

ICICI Bank Limited (NYSE: IBN), inaugurated its New York branch in midtown Manhattan. This is consequent to the bank’s approval from the U.S. regulators to commence operations as a Federal branch in New York City. The New York branch, subject to applicable guidelines, will offer a suite of banking services including working capital, acquisition finance, trade service and treasury solutions to corporate and savings products to qualified individuals.


·ICICI Bank enters Germany

Launches Call Money account “HiZins” at 4.75 percent interest.
Frankfurt: ICICI Bank UK PLC, a wholly-owned subsidiary of ICICI Bank Limited (NYSE: IBN), is entering the German market, with its Frankfurt branch being launched today at Mainzer Landstrasse 69-71, Frankfurt am Main. The branch is a member of the Association of German Banks. This offering leverages ICICI Bank’s technological capabilities and cost efficiencies to create a superior value proposition and serve customers through Internet (http://www.icicibank.de/) and telephone banking. It will also focus on serving corporate businesses with significant Germany-India linkages.
Coinciding with the inauguration, ICICI Bank UK PLC has launched a call money account product “HiZins” with an interest rate of 4.75%. This would be a no frills savings account with withdrawals available on a daily basis, and no restrictions on the amount that can be deposited. The customers will be served through a call center that will be located in Germany.