ICICI Bank's millennial branches to host entertainment shows as part of new offering

The country's second-largest private sector lender ICICI Bank launched a special offering for the millennial segment, with features like exclusive branches that will host entertainment events

The country's second-largest private sector lender ICICI Bank on Thursday launched a special offering for the millennial segment, with features like exclusive branches that will host entertainment events.

The country is poised for a demographic dividend, which will see millions of youth join the workforce, its executive director Anup Bagchi said, adding there are 40 million 'progressive' millennials who will contribute significantly to the economy and banking in the years to come.

He said after extensive research, the bank has launched the mobile-first, personalised and experiential-led banking platform christened 'Mine' for this segment.

It can be noted that a slew of lenders, including bigger rival HDFC Bank and others, have been targeting the millennial segment with dedicated offerings to help their consumption, borrowing and wealth management needs.

Bagchi said the bank's research has pointed out that customers in this segment do not want a 'digital-only' offering but a 'digital first' one.

The offering comes with access to a different looking branch with an experiential engagement area, which will have events like workshops, panel discussions, talent shows on travel, food, health and entertainment. The bank has opened its first such branch in Bengaluru's Manyata Tech Park.

It also comes with other features like instant opening of savings accounts, access to a new-look mobile app, instant personal loans of up to Rs 25 lakh, the bank said in a statement.