Founder Profile
Industrial Credit and Investment Corporation of India
Last reviewed: October 2026 · By Swet Parvadiya
Who is Industrial Credit and Investment Corporation of India?
Industrial Credit and Investment Corporation of India is a founder of ICICI Bank Limited, which was founded in 1994.
- Company founded
- ICICI Bank Limited
- Founded
- 1994
Background
Development finance institution formed as a joint venture between the World Bank, Indian public sector banks, and public-sector insurance companies.
Founding Story
The Industrial Credit and Investment Corporation of India (ICICI) was established in 1955 at the initiative of the World Bank, the Government of India, and representatives of Indian industry. Its original mandate was solely to provide medium-term and long-term project financing to Indian businesses to stimulate post-independence industrial growth. In 1994, ICICI spun off ICICI Bank as a wholly owned subsidiary to enter the commercial retail banking sector, eventually merging the parent company into the bank in 2002 to create a universal banking behemoth.
Sources
This profile does not yet cite a source specific to Industrial Credit and Investment Corporation of India. The sources below document the company company rather than the person, so check them against the claims above.
- ICICI Bank FY2026 annual reports page (ICICI Bank Limited)
- ICICI Bank FY2026 audited results filed with SEC (ICICI Bank Limited)