ICICI Bank vs Mastercard: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: ICICI Bank and Mastercard side by side

1. 1955ICICI Bank

   ICICI Founded as Development-Finance Institution

   ICICI was formed to provide medium- and long-term project finance to Indian businesses.

2. 1966Mastercard

   Interbank Card Association Takes Shape

   A group of U.S. Banks formed the Interbank Card Association to make card acceptance work across institutions rather than inside isolated bank programs.

3. 1968Mastercard

   Master Charge Brand Adopted

   The association adopted the Master Charge name and interlocking-circle design to give member banks a stronger shared identity. A common brand made the network easier for merchants and consumers to recognize as acceptance expanded beyond local bank programs.

4. 1979Mastercard

   Master Charge Becomes MasterCard

   The network changed its name from Master Charge to MasterCard as it became more international. The rebrand simplified recognition and helped the company present itself as a global acceptance network rather than a domestic bank-card association.

5. 1994ICICI Bank

   ICICI Bank Incorporated

   ICICI Bank was incorporated as part of the ICICI group during India's post-liberalization banking opening. The move gave ICICI a deposit-taking commercial bank able to serve retail, corporate, and transaction-banking customers.

6. 1999ICICI Bank

   NYSE Listing Milestone

   ICICI became the first Indian company and the first bank or financial institution from non-Japan Asia to list on the New York Stock Exchange. The listing expanded global visibility and imposed a higher disclosure profile on the group.

7. 2001ICICI Bank

   Bank of Madura Amalgamation

   Bank of Madura was amalgamated with ICICI Bank with effect from March 10, 2001. The deal added branches, customers, and a southern India presence that helped the young bank build distribution faster than organic expansion alone.

8. 2002ICICI Bank

   Reverse Merger Created Universal Bank

   ICICI, ICICI Personal Financial Services, and ICICI Capital Services merged into ICICI Bank.

9. 2002Mastercard

   Europay Merger and Corporate Conversion

   MasterCard merged with Europay International and converted from a membership association into a private share corporation. That structure prepared the company for public-market ownership and a more independent investment agenda.

10. 2006Mastercard

    Initial Public Offering on the NYSE

    MasterCard priced its initial public offering at $39 per share and listed on the New York Stock Exchange under the symbol MA.

11. 2010ICICI Bank

    Bank of Rajasthan Merger

    The Bank of Rajasthan merger strengthened ICICI Bank's branch network, especially in northern and western India. The transaction mattered because local branches and deposits still supported private-bank scale even as digital channels were growing.

12. 2017Mastercard

    Vocalink Expands Real-Time Payments

    Mastercard completed its Vocalink acquisition after announcing a deal for 92.4 percent of the U.K. Payments infrastructure company for about $920 million.

13. 2018ICICI Bank

    Sandeep Bakhshi Became MD and CEO

    Sandeep Bakhshi became Managing Director and CEO in October 2018 after Chanda Kochhar requested early retirement. His tenure has been associated with a sharper focus on risk controls, asset quality, governance, and steady retail-led growth.

14. 2020Mastercard

    Finicity Strengthens Open Banking

    Mastercard completed the acquisition of Finicity, a North American financial data and open banking platform. The deal added consumer-permissioned data connectivity for lending, account verification, personal finance, and account-based payment use cases.

15. 2021Mastercard

    Michael Miebach Becomes CEO

    Michael Miebach became chief executive officer on January 1, 2021 after serving as chief product officer and president.

16. 2021Mastercard

    Nets Account-to-Account Business Closes

    Mastercard completed the acquisition of the majority of Nets' Corporate Services business, adding clearing and settlement instant payment infrastructure, bill payment, and e-invoicing capabilities.

17. 2024Mastercard

    Recorded Future Adds Threat Intelligence

    Mastercard completed the acquisition of Recorded Future, adding AI-enabled threat intelligence to its cybersecurity, identity, and real-time fraud scoring services.

18. 2025ICICI Bank

    FY2025 Balance Sheet Scale

    The FY2025 integrated report listed Rs 16,103.48B in deposits, Rs 13,417.66B in loans and advances, Rs 21,182.40B in standalone total assets, and a 16.55% capital adequacy ratio.

19. 2025ICICI Bank

    FY2025 Profitability

    ICICI Bank reported Rs 472.27B in standalone profit after tax and Rs 510.29B in consolidated profit after tax for FY2025. Profitability matters because the bank has to fund technology, compliance, provisions, and growth while keeping capital strong.

20. 2025ICICI Bank

    IMobile and Card Scale

    IMobile processed 558M transactions worth Rs 11,238B in FY2025, and the bank had close to 18M active credit cards at March 31, 2025.

21. 2025Mastercard

    $32.8B FY2025 Net Revenue

    Mastercard reported $32.791 billion in FY2025 net revenue and $14.968 billion in net income.

22. 2026ICICI Bank

    Q1 FY2027 Profit Up 15.9%

    Standalone profit rose 15.9% to Rs 14,805 crore for April-June 2026, with net interest income up 12.7% and net NPAs at 0.35%.

23. 2026ICICI Bank

    Bakhshi Reappointed to 2028

    The RBI approved Sandeep Bakhshi's reappointment as MD and CEO for two years from October 4, 2026.

24. 2026ICICI Bank

    FY2026 Profit Crosses Rs 50,000 Crore

    Standalone net profit rose 6.2% to Rs 50,146.6 crore in FY2026, with a 4.32% net interest margin and 15.8% loan growth.

25. 2026Mastercard

    BVNK Adds Stablecoin Infrastructure

    Mastercard closed its acquisition of stablecoin infrastructure firm BVNK on August 3, 2026, for up to $1.8 billion including contingent payments. The deal extends the company's network to on-chain payments alongside cards and bank transfers.

Acquisitions

Questions about ICICI Bank vs Mastercard