Institution profile · Foreign bank subsidiary (Schedule II)
ICICI Bank Canada
ActiveICICI Bank CanadaCDIC
ICICI Bank Canada is a Schedule II subsidiary of India’s ICICI Bank. It describes itself as a full-service direct bank and signed the federal low-cost account commitment.
Profile facts checked October 30, 2026
At a glance
- Legal name
- ICICI Bank Canada
- Type
- Foreign bank subsidiary (Schedule II)
- Owner / parent
- ICICI Bank Limited (Mumbai, India)
- Head office
- Toronto, ON
- Founded
- 2003 — Established in December 2003.
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Cheapest everyday account
- Basic Chequing Account — $66 a year for the Everyday example
- OBSI banking cases
- 1 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.icicibank.ca
Deposit protection
CDIC member.
ICICI Bank Canada chequing accounts and what they cost
ICICI Bank Canada lists 1 chequing account with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), the cheapest account open to anyone is Basic Chequing Account at $66 a year. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Basic Chequing Account | $4.00/mo, no balance waiver | Unlimited | $66 |
On the official lists
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| ICICI Bank Canada | OSFI — Schedule II foreign bank subsidiary | Yes |
Facts, with sources
- Wholly owned subsidiary of ICICI Bank Limited, headquartered in Mumbai.Source: icicibank.ca
- Established in December 2003; describes itself as a full-service direct bank.Source: icicibank.ca
- Listed by FCAC among the signatories of the low-cost and no-cost account commitment.Source: canada.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank ICICI Bank Canada’s accounts against everyone else’s.
Complaints that reached the ombudsman
OBSI, the ombudsman for banking, opened 1 banking case about ICICI Bank Canada in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 1, and resolved 0 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
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