ICICI Bank UK PLC

What ICICI Bank UK PLC does

ICICI Bank UK PLC is a UK-incorporated, FCA/PRA-regulated bank (Registration 223268) and wholly owned subsidiary of ICICI Bank Ltd, headquartered in London at One Thomas More Square. Founded in 2003, the bank serves three primary customer segments — personal banking, business banking, and corporate banking — with a pronounced specialisation in the UK-India cross-border corridor and Non-Resident Indian (NRI) customers. Its product portfolio spans UK current accounts, a layered savings franchise under the HiSAVE sub-brand (easy access, fixed rate, 45/95-day notice, recurring, and child savings), fixed deposits, the Money2India remittance platform, safe deposit boxes, and business/corporate accounts with trade finance capabilities.

The bank's technology infrastructure centres on a multi-channel internet and mobile banking platform. Customers access services via separate online portals for Personal (infinity.icicibank.co.uk), Business, and Corporate (cib.icicibank.co.uk) banking, the iMobile Global mobile application, and the dedicated Money2India website. Debit cards support Apple Pay and Google Pay for contactless payments, and the bank has implemented an Open Banking/PSD2 compliance framework for third-party data access. The bank maintains Cyber Essentials certification and is a member of the FSCS with up to £85,000 deposit protection per depositor.

Revenue is generated across four streams: subscription/recurring fees and interest on personal, business, and corporate deposit accounts; and transaction-based fees plus FX margins on Money Transfer and remittance services. Distribution is hybrid, combining physical branches, 24/7 telephone support, and digital self-serve channels, with marketing executed through the corporate website, mobile app stores, referral programmes, and direct customer outreach. Strategically, ICICI Bank UK functions as the European on-ramp to the ICICI Bank group's India-centric product ecosystem, leveraging parent-group brand recognition and multi-country presence (India, UK, Bahrain, Canada, China, Germany, Hong Kong, Singapore, UAE, US) to serve the UK-resident Indian diaspora and Indo-UK trade flows.

Name

ICICI Bank UK PLC

Legal name

ICICI Bank UK PLC

Website

https://icicibank.co.uk

Company type

Private

Founded year

2003

Operating status

Operating

Short description

ICICI Bank UK PLC is a London-based, FCA/PRA-regulated bank and wholly owned subsidiary of ICICI Bank Ltd, providing personal, business, corporate banking and Money2India remittance services to UK residents, UK businesses, and the UK-resident Indian diaspora.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• International money transfer
• Savings accounts UK
• NRI banking services
• Business banking solutions

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Personal Banking Services: Fees and interest income from personal current accounts, savings accounts (including HiSAVE), fixed deposits, and personal money transfers.
2. Business Banking Services: Fees and interest from business current accounts, business savings accounts, and business money transfer services.
3. Corporate Banking Services: Fees and interest income from corporate banking relationships, trade finance, and corporate account services.
4. Money Transfer/Remittance: Revenue from money transfer fees and exchange rate margins on international remittance services to India.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

ICICI Bank UK PLC provides UK personal, business, and corporate banking services alongside India-focused international money transfer. Personal offerings include current accounts and a tiered savings suite (Easy Access / HiSAVE, Fixed Rate, Notice, Recurring, and Child savings), while business and corporate customers receive tailored current and savings accounts with FX transfers and trade finance. The bank specialises in India-UK cross-border remittance through the Money2India platform, serving the UK-based NRI community, with services delivered via branches, the iMobile Global app, and dedicated internet banking portals.

Product overview

ICICI Bank UK PLC offers a comprehensive suite of personal, business, and corporate banking products and services in the UK. The core product portfolio includes Personal Current Accounts and multiple Savings Account variants (Easy Access via HiSAVE, Fixed Rate deposits, Notice Savings with 45/95-day terms, Recurring Deposits, and Child Savings). For international customers, NRI Banking services are available including NRI Savings Accounts and NRI Fixed Deposits. The digital banking infrastructure centers around the iMobile Global App (mobile banking) and Internet Banking platform (with separate portals for Personal, Business, and Corporate customers). Money transfer services include Money Transfer to India and the Money2India online remittance platform. Business and Corporate Banking offerings provide current and savings accounts with additional services like FX transfers and trade finance. Safe Deposit Box rental is also available for secure storage needs.

Differentiator

Problem solved

Functional benefit

Brands

• HiSAVE: Savings account brand offering easy access savings, fixed rate savings, and notice savings accounts.
• Money2India
• iMobile Global
• HomeVantage

Products and services

• Personal Current Account (HomeVantage) UK-denominated personal current account for everyday personal banking needs including deposits, withdrawals, debit card services, and basic banking with no monthly fee for the basic offering.
• Savings Account (Easy Access) including HiSAVE Savings Account Interest-bearing easy-access savings account for UK personal customers (HiSAVE Savings Account) offering competitive interest rates with funds available without notice.
• HiSAVE Fixed Rate Account Fixed rate savings account (HiSAVE Fixed Rate) offering guaranteed interest rates over a defined term for UK personal customers.
• Fixed Deposit (Non-Withdrawable) Term deposit with funds locked until maturity and not withdrawable during the deposit period, for UK personal customers.
• Fixed Deposit (Withdrawable) Term deposit that allows partial withdrawals while continuing to earn fixed interest on the remaining balance for UK personal customers.
• Notice Savings Account (45-day and 95-day) Notice savings accounts requiring either 45 or 95 days' notice prior to withdrawal, with the 95-day variant offering higher interest rates than the shorter notice period.
• Recurring Deposit Regular savings product allowing customers to make periodic deposits into a fixed deposit account, combining recurring contributions with fixed-deposit returns.
• Child Savings Account Savings account designed for children with age-appropriate features and parental controls, offered to UK personal customers.
• Money Transfer to India International money transfer service from the UK to India with competitive and confirmed exchange rates, supported by a Rate Calculator for quoting transfers.
• Money2India Online Remittance Platform Dedicated online remittance platform (Money2India) for transferring money from the UK to India, available to both ICICI Bank UK account holders and non-account holders.
• Safe Deposit Box Secure vault rental service allowing customers to store valuables and important documents in bank-operated safe deposit boxes.
• iMobile Global Mobile Banking Application Mobile banking application (iMobile Global) for ICICI Bank UK customers, enabling account management, UK and India fund transfers, savings and fixed deposit management, debit card controls including PIN viewing, transaction history, and payee management.
• Personal Internet Banking Online internet banking platform dedicated to ICICI Bank UK personal customers, providing account management, transfers, and access to banking services.
• Business Banking Current Account Business current account designed for UK SMB and business customers, providing account management, foreign exchange transfers, and trade finance capability.
• Business Banking Savings Account Interest-bearing savings account for UK business customers to deposit and earn interest on surplus business funds.
• Corporate Banking Comprehensive banking services for corporate clients including corporate current accounts and tailored corporate banking solutions, supported by the corporate internet banking portal at cib.icicibank.co.uk.
• NRI Banking Services Specialised banking services for UK-resident Non-Resident Indians, including NRI Savings Account and NRI Fixed Deposit products designed for cross-border India-UK banking needs.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Financial Services Compensation Scheme (FSCS)coreOthersICICI Bank UK PLC is a member of the Financial Services Compensation Scheme, which provides deposit protection up to £85,000 per depositor, offering customer deposit insurance and protection.
• Prudential Regulation Authority (PRA)coreOthersICICI Bank UK PLC is authorised by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority (FCA). Registration Number: 223268.
• Financial Conduct Authority (FCA)coreOthersICICI Bank UK PLC is authorised by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority (FCA). Registration Number: 223268.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank of Baroda UK: UK operations of another major Indian public-sector bank, serving the Indian diaspora with personal banking and India-bound remittances, with regulatory standing equivalent to ICICI Bank UK.
• Remitly: US/UK-based digital remittance app with India as a top corridor, competing for the same NRI senders that fund deposits and FX revenue at ICICI Bank UK.
• Wise (TransferWise): UK-headquartered cross-border money transfer specialist with multi-currency account product competing head-on with ICICI's Money2India in the UK-India remittance corridor on price and speed.
• State Bank of India UK: UK subsidiary of India's largest public-sector bank offering NRI-focused current and savings accounts plus India remittance services directly comparable to ICICI Bank UK's core proposition.
• Bank of India UK: UK subsidiary of Bank of India targeting NRI customers with savings, FDs, and remittances - overlap with ICICI Bank UK on customer segment and product mix.

Broad incumbents

• Santander UK: UK branch-based incumbent with a strong remittance and international banking proposition competing for the same personal-banking and small-business customers ICICI Bank UK targets.
• HSBC UK: Largest UK commercial bank with extensive international network, NRI-style offerings and global remittance capability that overlap with ICICI Bank UK across personal and corporate banking.
• Barclays UK: Major incumbent UK bank offering full personal, business and corporate banking with international transfer capability - competitive frame for ICICI Bank UK's mainstream products outside the NRI niche.

Emerging players

• Starling Bank: UK digital-only challenger bank rapidly capturing current-account customers and small-business banking share - direct competitor for retail and small-business deposits ICICI Bank UK relies on.
• Revolut: UK digital bank with multi-currency accounts and cheap international transfers, increasingly used by diaspora customers for India remittances and basic banking - emerging threat to ICICI's niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/icici-bank-uk-plc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICICI Bank UK PLC