KV Kamath MD& CEO, ICICI Bank
KV Kamath MD & CEO, ICICI Bank
Gaining Interest
THINK financial services in India and one can't help but think about KV
Kamath. Kamath, 57, is the man credited with driving not only ICICI Bank's
growth, but also that of the entire financial services sector in the
country- That he has gained one position moving from No 8 in 2003 to No 7
this year, speaks of his growing influence and power within corporate
circles in India. Not surprisingly, this was the year that also saw ICICI
Bank hit the capital markets with one of the biggest equity issues for a
banking institution in recent memory.
Taking ICICI from an industrial project finance institution into India's
most comprehensive fi-ancial services powerhouse with interests in retail
banking, insurance, online trading and BPO among others, Kamath may easily
be called the one who transformed the face of Indian banking. ie reverse
merger of ICICI with ICICI Bank, the single biggest merger in Indian
financial sector history, counts as his biggest visible achievement. A
mechanical engineer from REC Kamataka and an MBA from the Indian Institute
of Management Ahmedabad in 1971, Kamath's first job was with ICICI's
project finance division, where he initiated and implemented the firm's
computerisation programme. His fondness for technology and its potential
continued to be the focal point of his vision for the future, and helped
him take ICICI Bank to become the most technologically savvy banking
company in India. At a time when banking was synonymous with the physical
banking approach of public sector banks, Kamath introduced the ATM mode of
banking that was soon duplicated by most other banks. With more than half
of the bank's customers accessing its services through ATMs, internet
banking and the like, ICICI Bank has shown the way for Indian banks to
take their services to the next level.
Courtesy: Economic Times
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