ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited, which has its headquarters in Mumbai, India.
ICICI Bank Limited is India's largest private sector bank as measured by asset base as of December 31, 2009 and the second largest bank in the country with consolidated total assets of about US $103 billion as of December 31, 2009[1]. ICICI Bank Limited’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 Limited’s presence currently spans 19 countries.
Established in December 2003, ICICI Bank Canada is a full-service direct bank in Canada with an asset base of about C $5.8 billion as of December 31, 2009[2]. It carries on business under Canada’s Bank Act and operates under the supervision of the Office of the Superintendent of Financial Institutions. It is a member of the Canadian Bankers Association, ("CBA") as well as the Canada Deposit Insurance Corporation ("CDIC"). CDIC insures eligible Canadian dollar deposits at member institutions having tenures of up to five years (up to $100,000 per depositor).
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2003: In November, ICICI Bank Canada was incorporated as a Schedule II bank. In December, the Head Office and the Downtown Toronto (Ontario) Branch were opened.
2004: ICICI Bank Canada launched online banking platform that allows it to serve customers across the country.
2005: ICICI Bank Canada launched its Financial Advisor Services channel.
2008: ICICI Bank Canada relocated its head office to the Don Valley Business Park in Toronto after outgrowing its initial office space.
2009: ICICI Bank Canada was honoured the Canadian Helen Keller Centre Award. Sriram H. Iyer, ICICI Bank Canada’s President and CEO, was named a 2008 recipient of Canada's Top 40 Under 40TM.