Do you know that only a few banks in India have the title of “too big to fail” banks by the RBI? And sure enough, ICICI Bank is one of them. That’s also because at present, ICICI Bank is actually the 2nd largest private bank in the country, which is just awesome growth if you think about a bank that started out just in 1994 (though the history dates back to 1955). And in India, whenever people talk about banks, like whenever they have to open a basic savings/current account, they only choose the top banks, and ICICI Bank is one of the most preferred choices. So, if you’re someone looking forward to getting access to some quality banking services in India, or maybe you’re an investor. Whatever it is, just keep on reading because this is a lowdown on the SWOT analysis of ICICI Bank, and it’ll be super helpful for you.
Strengths Of ICICI Bank
1. Big Player in the Game
Without a single doubt, ICICI is a big player in the Indian banking scene which is its biggest strength right now. Like, for those who don’t know, if we go by market cap data, ICICI is actually the 2nd largest bank in the country. On top of that, it has as many as 6,613 branches and 16,120 ATMs across India. So yes, it is a BIG bank.
2. Always Ahead In The Technology Scene
No matter if you ask the customers or the experts about which bank is doing super good in the technology implementation department, they are all going to answer with just one name, and that is going to be ICICI Bank. The digital offerings of this bank are just on another level of goodness, such as their DigiEase as well as iMobile app.
3. Makes Good Money
It is not just being the bigger bank in the branch numbers or the market cap, this bank also generates big revenue numbers every year. Like, back in 2024, the total revenue that ICICI Bank generated was somewhere around ₹236,037 crore.
4. Doesn’t Put All Eggs in One Basket
It’s not just the basic banking stuff that ICICI Bank is involved in, nah, the people behind this bank believes in spreading out the opportunities, and that’s where we see ICICI Bank diving into other segments like insurance, mutual funds, loans, investment banking, and even help people manage their wealth.
5. People Love Working There
Are you aware of the fact that ICICI Bank has been named as “Best Company to Work For” and “Bank of the Year”? Yes, that’s just because among employees, this is the best bank to work at.
Weaknesses Of ICICI Bank
1. Got Into Trouble Once
If you’ve been keeping an eye on the banking scene of India for a while now, you’d certainly remember the 2013 incident where ICICI Bank was alleged to be involved in some money laundering practices. And that sure damaged their image quite a bit in India.
2. Mostly Focused on India
Well, it is true that ICICI Bank also has branches in almost 11 countries around the globe, but still, it’s main focus is on the Indian market only. And if you know just a little bit about the banking scene, that’s not a very promising thing.
3. Bad Loans (aka NPAs)
ICICI Bank is probably the biggest bank out there that is facing major Non-Performing Assets problems. Like in Q4-2024, they had to write off about ₹1,707 crore. That’s just a HUGE amount right there!
4. Not the Best at Customer Service Innovation Yet
Sure, it is true that ICICI Bank’s customer service is good, but it is not something that makes the customer say “WOW!”
5. Some Staff Keep Leaving
Yes, it is true that the employees at ICICI Bank are happy generally, but when you look at the lower lever branches, it has been seen that employees are leaving quite often. The bank needs to work on this.
Opportunities For ICICI Bank
1. The Young & The Techy
Without a single doubt, ICICI Bank is leading the game when it comes to technology stuff, and that’s precisely why this bank has the opportunity to win the Gen Z audience in India with their marketing and because of the fact that Gen Z audience loves fast and reliable services.
2. Rural India = Big Potential
See, rural India is still somewhat untapped when it comes to banking services, and just like any other big bank out there, ICICI Bank also has a good opportunity to capitalize on this.
3. Green is the New Gold
These days, literally every other bank seems to be giving out loans to companies and businesses that are doing their part in eco-friendly practices. And that’s where ICICI Bank can also work on and make it shine even more.
4. More Digital Banking = More Fun
Sure enough, more and more people are going online these days and spending a lot of time there, and since ICICI is already ahead in the tech department, they have a good opportunity to attract even more customers that are new in this online world.
Threats For ICICI Bank
1. Other Banks Want to Win, Too
It is pretty obvious that ICICI Bank isn’t the only big bank out there; you may already know about other big names like HDFC, Axis, Kotak, SBI, etc. Right? Well, this is the competition that is one if not the biggest threat to ICICI Bank at the moment.
2. Online = Hackers
These days, it seems or feels like even the big banks can’t stop the hackers because there have been so many cases of data breaches and online frauds. This sure is a risk for the bank as well as for the customers, and ICICI Bank is doing decent to protect both sides.
3. Politics Can Shake Things Up
If there is political instability, it sure is going to affect the banking industry and big banks, especially a bank like ICICI.
4. Young People Are Picky
See, when it comes to choosing a bank, younger people tend to research more and then make a selection, and when it comes to a bank, they sure are going to research even more. So, if ICICI wants to keep up, they’d have to market themselves more and provide quality services.
