Now, ICICI Bank has planned to invest in its infrastructure. It has planned to open 400-500 branches annually over the next 3 years.

An online news portal about business and economy – economictimes.indiatimes.com, quotes a statement of ICICI Bank Managing Director and CEO Chanda Kochhar, “I feel that we have to grow beyond the number of existing) branches… Over the next 2-3 years, we would continue to add branches at the rate of 400-500 per year.”

Further the news portal writes, “The bank, which reported a 30.5 per cent increase in net profit to Rs 1,437 crore during the quarter ending December 31, has been expanding its branch network at rapid pace. Presently, it has about 2,500 branches and 5,800 ATMs.

Kochhar is here as one of the six co-chairs of the annual meeting of the World Economic Forum being attended by the world’s top CEOs, heads of states, academicians and even faith leaders.

The Indian government yesterday decided to honour Kocchar with the Padam Bhushan, a civilian award given by the state in recognition of an individual’s achievements.”

In the analysis, the news portal writes, “ICICI Bank, which was quite aggressive on personal loans till 2008, has shifted focus and it has been concentrating on corporate sector financing as one of the key areas of “sustainable growth”.

With the private sector expected to play a major role in infrastructure financing, projected at USD 1 trillion in the next 5-6 years, ICICI Bank would remain active in areas like roads and power.”

It is the biggest event for ICICI bank after the launch of a new credit car jointly with Kingfisher.