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ICICI Bank traces its origins to the Industrial Credit and Investment Corporation of India (ICICI), a development financial institution established on January 5, 1955. The foundational entity was a joint initiative by the World Bank, the Government of India, and Indian industry representatives, with the primary goal of providing medium and long-term project financing to stimulate India's post-independence industrial growth. Following the liberalization of India's financial sector in the 1990s, ICICI Bank was incorporated in 1994 as a wholly-owned subsidiary of the parent institution. A pivotal moment in its evolution was the reverse merger of the parent company, ICICI Ltd., into ICICI Bank in 2002, which transitioned the entity from a development finance institution into a diversified universal bank.

ICICI Bank Limited is now a Public Limited Company and a key constituent of both the BSE SENSEX and NSE NIFTY 50 indices, with its American Depositary Receipts (ADRs) also listed on the New York Stock Exchange (NYSE) under the ticker 'IBN'. It is recognized as one of India's largest private-sector banks by market capitalization and assets. Its significance in the Indian financial system extends beyond commercial banking, as the original ICICI played a role in setting up several crucial financial infrastructure institutions, including the National Stock Exchange of India (NSE) and CRISIL, India's first professional credit rating agency. As a full-service multinational bank, it offers a comprehensive range of corporate and retail financial services and has a global presence across multiple countries.