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ICICI Bankˇ¦s Credit Card: Journey to Asian Leadership  
Product Ref: 11/493C Company: ICICI Bank

Product Type: Case Industry: Retail Banking

Related Product(s): Teaching Note
Authors: Arunaditya Sahay   Shilpi Jain   Vineet Kapoor   
When ICICI, an Indian private bank entered the retail banking market in the 1990's with little technology infrastructure, capital and retail expertise, few had expected it to succeed. Public sector banks, holding 75% of deposits, were dominating the retail banking market, while foreign giants had cornered the market for high-net-worth individuals living in the major cities across India. With a strategy to offer credit cards to the middle class, abolish annual fees and enter into partnerships with major retailers, ICICI quickly proved the sceptics wrong. Revenues per employee grew to over US$9 million compared with about US$3 million for the Bank of India and slightly below US$160,000 for Standard Chartered. The lofty number one position was achieved by Vaidyanathan, ICICIˇ¦s head of retail, and his team. Their progressive initiatives were focused on developing new products and improving consumer service experiences. As the 2008ˇV2009 financial crisis tripled the percentage of non-performing assets in the Indian banking industry, Vaidyanathan had to plan how ICICI would adopt to the new environment and maintain industry leadership.
Functional Area : Strategy & General Management

Learning Objective: This case has its foundations in strategic management: using Michael Porterˇ¦s five forces model, strategic alliance, concepts of service/product innovation and competition can be analysed. To make students understand that organisations form strategic alliances for survival and growth. To analyse the nature and purpose of strategic alliances. To demonstrate operational issues: how an organisation transforms into customer-centric, customer-intensive business units.
Length: 28 pages Country: India

Pub. Year: 2011 Level of Difficulty: 2
This product type is available in the following language(s):      English
Related Information: N/A
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