K.V. Kamath, Chairman and Managing Director of ICICI Bank, has been selected as Businessman of the Year 2005, by Business India.
He was selected for this coveted distinction, now in its 24th year, by an eminent jury, which met recently in Mumbai. As is the tradition at Business India, the jury was chaired by Business India's Businessman of the Year 2004, S. Ramadorai, CEO, Tata Consultancy Services Ltd.
He is credited with the transformation of ICICI from a development finance institution to a full-fledged commercial bank, now India's second largest after the State Bank of India. Kamath took charge as Managing Director and CEO of ICICI in 1996, from his respected predecessor N.Vaghul who remains non-executive chairman. Since then, he has worked relentlessly towards making the institution a savvy and tech-enabled financial powerhouse.
The mega reverse merger of ICICI Ltd with ICICI Bank in 2002 coupled with a host of strategic initiatives helped ICICI dramatically redraw its business boundaries.
Today ICICI has evolved into a well-recognized brand offering a slew of retail finance products backed by robust distribution channels. It has a network of 590 branches and over 2000 ATMs which cater to its 14 million customers. Additionally, it is building a global footprint with subsidiaries in the United Kingdom, Canada and Russia and branches in Singapore and Bahrain. With an asset base of Rs 1,89,218 crore ICICI continues to grow at a scorching pace.