Jobs: ICICI Bank (India) to hire 7K staff this fiscal

ICICI Bank, the India's largest private sector lender, on Monday said it intends to increase its manpower strength by up to 7,000 during the current financial year with plans of expanding its network further.

"We plan to hire around 5,000-7,000 people this fiscal," ICICI Bank managing director and chief executive officer (CEO) Chanda Kochhar told reporters.

"We have also declared bonus and increments for our employees," Kochhar said in Mumbai after inaugurating the 2,000th branch of the largest private sector bank. She said ICICI Bank is the first private sector bank to reach this milestone.

The bank plans to add more branches and ATMs in the current fiscal, she said. The bank has 33 per cent branches in metro areas, 26 per cent in other urban areas and 41 per cent in semi-urban and rural areas.
On the bank's plans to acquire overseas assets, Kochhar said, "We are in the process of applying for new branches overseas. This year we are more into expanding and deepening our presence in the locations we are already present in."

ICICI Bank's presence currently spans 19 countries, including India. Kochhar said the ICICI Group does not envisage any problems in its expansion plans due to the government's foreign direct investment (FDI) norms that classify the bank as foreign-owned.

"Nothing has changed in our ownership structure in the recent past, so we do not think there are any hitches in our expansion plans," Kochhar said.

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