Case | HBS Case Collection | February 2001 (Revised March 2003)


by Bharat N. Anand, Nitin Nohria and John Pegg


ICICI was the first Indian company to be listed on the New York Stock Exchange. This case is set in 1998, when the company had to decide whether to enter the retail credit segment of the Indian financial market. Although the retail credit sector presents attractive growth opportunities, ICICI lacked many of the capabilities needed to succeed in this space and would have to compete against a host of established domestic and foreign banks. Describes how ICICI, under the visionary leadership of K.V. Kamath, has transformed itself, against all odds, from a development financial institution into a commercially competitive organization.

Keywords: Growth and Development Strategy; Diversification; Expansion; Strategic Planning; Competition; Competitive Strategy; Growth Management; Markets; Banking Industry; Financial Services Industry; India;


Anand, Bharat N., Nitin Nohria, and John Pegg. "ICICI (A)." Harvard Business School Case 701-064, February 2001. (Revised March 2003.)