FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of January 2010
Commission
File Number: 001-15002
ICICI
Bank Limited
(Translation
of registrant’s name into English)
ICICI
Bank Towers,
Bandra-Kurla
Complex
Mumbai,
India 400 051
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual
reports under cover Form 20-F or Form 40-F.
|
Form
20-F X
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Form
40-F
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Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(1):
|
Yes
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No X
|
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper
as permitted by Regulation S-T Rule 101(b)(7):
|
Yes
|
No X
|
Indicate
by check mark whether by furnishing the information
contained
in this Form, the Registrant is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b)
under the
Securities Exchange Act of 1934:
|
Yes
|
No X
|
If “Yes”
is marked, indicate below the file number assigned to the registrant
in
connection
with Rule 12g 3-2(b): Not
Applicable
Table
of Contents
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Item
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1.
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Press
Release dated January 6, 2010
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Item 1
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Press
Release
For
Immediate Publication
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January 06,
2010
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ICICI
Bank and First Data Enter Merchant Acquiring Alliance
ICICI
Merchant Services combines established merchant base with global acquiring
expertise
Mumbai: ICICI Bank,
India’s largest private sector bank, and First Data, a global leader in
electronic commerce and payment services, have formed a merchant acquiring
alliance named ICICI Merchant Services which has acquired ICICI Bank’s merchant
acquiring portfolio. The transaction was completed on December 22, 2009. The
venture brings together one of India’s largest merchant portfolios, representing
approximately 30% of the current Indian acquiring market, and a leading acquirer
and payment services provider with global expertise.
ICICI
Merchant Services, which is owned 81% by First Data and 19% by ICICI Bank,
will build on the bank’s existing acquiring portfolio of approximately 150,000
merchants. Over time, ICICI Merchant Services expects to deliver an enhanced
suite of card acquiring services to these and to new merchants. ICICI Bank
will continue to act as a settlement banker for the merchants.
ICICI
Bank is India’s second largest bank with over 1,500 branches across the
country. First Data, a KKR company, provides payment processing
services for 5.3 million merchant locations globally and serves customers in 36
countries around the world. First Data’s services include offering merchants the
ability to view their payment transactions securely via the internet while
benefiting from loyalty, prepaid and market-leading e-commerce solutions based
upon advanced processing technologies.
Commenting
on the agreement, Sandeep Bakhshi, Deputy Managing Director, ICICI Bank, said:
“We continue to work towards optimising and improving the efficiencies of our
business, to meet customer needs effectively and increase service quality. By
partnering with a leading global player like First Data, we are able to expand
our service offering to our merchant customers.”
“India is
a strategic market for First Data,” said David Yates, president of First Data’s
international business. “This new alliance gives us the scale and presence that
we can build from, with a highly regarded partner. We hope our alliance will
make a positive contribution to the Indian economy, partnering with ICICI Bank
to provide specialised, world-class merchant acquiring services to the
market.“
Both
ICICI Bank and First Data will be represented on the board of directors of ICICI
Merchant Services. Day-to-day operations will be coordinated by First
Data.
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About ICICI Bank: ICICI
Bank Ltd (NYSE:IBN) is India's largest private sector bank and the second
largest bank in the country with consolidated total assets of about US$ 102
billion as of September 30, 2009. The ICICI Group has leadership positions
across the financial services sector, including insurance, securities brokerage,
asset management and private equity.
About First Data:
First Data, a KKR-portfolio company, powers the global economy by making it
easy, fast and secure for people and businesses to buy goods and services using
virtually any form of electronic payment. Whether the choice of payment is
a gift card, a credit or debit card or a check, First Data securely processes
the transaction and harnesses the power of the data to deliver intelligence and
insight for millions of merchant locations and thousands of card issuers in 36
countries. For more information, visit www.firstdata.com.
About KKR: Founded
in 1976 by Henry
Kravis and George
Roberts, KKR is a leading global alternative asset manager with $54.8
billion in assets under management, over 600 people and 14 offices around the
world as of September 30, 2009. KKR manages assets through a variety of
investment funds and accounts covering multiple asset classes. KKR seeks to
create value by bringing operational expertise to its portfolio companies and
through active oversight and monitoring of its investments. KKR complements its
investment expertise and strengthens interactions with investors through its
client relationships and capital markets platforms. KKR is publicly traded
through KKR & Co. (Guernsey) L.P. (Euronext Amsterdam: KKR). For additional
information, please visit KKR's website at www.kkr.com.
Except for the historical information contained
herein, statements in this release, which contain words or phrases such as
'will', 'would', etc., and similar expressions or variations of such expressions
may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements. These risks
and uncertainties include, but are not limited to our ability to obtain statutory and regulatory
approvals and to successfully implement our strategy, future levels of
non-performing loans, our growth and expansion in business, the adequacy of our
allowance for credit losses, technological implementation and
changes, the actual growth in demand for banking
products and services, investment income, cash flow projections, our exposure to
market risks as well as other risks detailed in the reports filed by us with the
United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to
update forward-looking statements to reflect events or circumstances after the
date thereof.
Press
Queries:
For ICICI
Bank
Charudatta
Deshpande
Head –
Corporate Communications
ICICI
Bank Ltd
Tel: +91
22 26538208
E-mail:
charudatta.deshpande@icicibank.com
For First
Data:
Deepa
Jayaraman
IPAN Hill
& Knowlton
+91 22
4066 1755
+91 98198
08681
djayaraman@ipanhillandknowlton.com
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorised.
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For ICICI Bank
Limited
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Date:
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January
6, 2010
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By:
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/s/
Shanthi
Venkatesan
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Name
:
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Shanthi Venkatesan
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Title :
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Assistant General Manager
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