ICICI Bank's Touch Banking Branches Cross 100

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ICICI Bank, the country's largest private sector bank, has scaled up the number of its fully-automated Touch Banking branches to 100 in 33 cities across the country.



ICICI Bank, the country's largest private sector bank, has scaled up the number of its fully-automated Touch Banking branches to 100 in 33 cities across the country. These branches, which are open on all days 24X7, help customers do real-time cash deposits, withdraw money, deposit cheques and get instant receipts, transfer funds, open fixed deposits and generate bank statements. It also offers account related information through Internet banking and video conferencing.

An ICICI Bank spokesperson said: "We have observed that an individual spends around 10 hours a day at work. It leaves very little time to do routine works including day-to-day banking. So we felt the need to offer our customers an option of banking at their convenience and at any time of the day."

ICICI Bank, which is a pioneer in technological innovation in banking, has started offering the Touch Banking services over a year ago. Buoyed by the customer's response, it is now expanding the number of such branches. Transactions at Touch Banking branches have doubled in the last six months to close to 2 million in Feb, 2014. Around a 100,000 new customers transact at these branches every month.

ICICI Bank will open many such branches in future. It will open new Touch Banking branches not only in big cities but also in small towns. " Customers' aspirations are similar everywhere across the country and we are seeing fast adoption of technology in small cities," said the spokesperson. In addition to big metro cities, the Bank has already opened Touch Banking branches in cities like Rajkot, Vadodara, Vizag, Lucknow, Raipur, Surat, Siliguri and Guwahati, among others.

About ICICI Bank Ltd: ICICI Bank Limited is India's largest private sector bank and the second largest bank in India, with consolidated total assets of US $ 124 billion as on March 31, 2013. 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 global presence currently spans across 19 countries, including India.

Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.

For Press Queries:
Sujit Ganguli
Senior General Manager & Head - Corporate Communications and Brand Group
ICICI Bank Ltd.
Mumbai – 51
Email – ganguli.sujit@icicibank.com

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