KV Kamath is Businessman of the year – 2007

kv kamath

ICICI Bank chief executive officer K.V. Kamath has been named Businessman of the Year for 2007 by Forbes Asia, for his steadiness at steering ICICI into one of Asia’s top banks. Under Mr Kamath’s watch since 1996, ICICI Bank’s market capitalisation has risen to $31 billion, placing it among the region’s top 10 banks.“By this measure, it is bigger than Singapore’s DBS Group and Korea’s Kookmin Bank, and has attracted big stakeholders such as Singapore’s Temasek Holdings and CLSA and Merrill Lynch funds,” a press release issued by Forbes said.

Sixty-year-old Kamath’s win puts him in the company of fellow countrymen Nandan Nilekani of Infosys Technologies, last year’s winner, and Ratan Tata, the 2004 businessman of the year. His addition means three Indian executives have won the accolade in the last four years.

Forbes Asia editor Tim Ferguson said: “Kamath’s leadership has been outstanding. His focus on serving India’s growing middle class by providing First World banking service at affordable prices is largely the reason behind the phenomenal growth of ICICI Bank.”

The bank’s assets have grown 40 per cent annually in the last three years to $93 billion, propelled by a boom in Indian consumer credit where ICICI Bank has a dominant one-third market share. Last year, the bank earned $790 million on net revenues of $3.2 billion. By the end of this fiscal year, net revenues will swell to $4.3 billion.

News source: Yahoo


One Comment

  1. bhattathiri says:

    His art of Management has become a part and parcel of everyday life, be it at home, in the office or factory and in Government. In all organizations, where a group of human beings assemble for a common purpose irrespective of caste, creed, and religion, management principles come into play through the management of resources, finance and planning, priorities, policies and practice. Management is a systematic way of carrying out activities in any field of human effort. Management need to focus more on leadership skills, e.g., establishing vision and goals, communicating the vision and goals, and guiding others to accomplish them. It also assert that leadership must be more facilitative, participative and empowering in how visions and goals are established and carried out. Some people assert that this really isn’t a change in the management functions, rather it’s re-emphasizing certain aspects of management.

    Its task is to make people capable of joint performance, to make their weaknesses irrelevant, says the Management Guru Peter Drucker. It creates harmony in working together – equilibrium in thoughts and actions, goals and achievements, plans and performance, products and markets. It resolves situations of scarcity, be they in the physical, technical or human fields, through maximum utilization with the minimum available processes to achieve the goal. Lack of management causes disorder, confusion, wastage, delay, destruction and even depression. Managing men, money and materials in the best possible way, according to circumstances and environment, is the most important and essential factor for a successful managemen

Comments are closed.