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Sector Analysis: ICICI Bank (IBN) is India’s largest private sector bank - it belongs to the International Banking group. Oflately, fortunes of international banks have been tied to the US financial sector; IBN’s correlation to Financials SPDR (XLF) in the past six months is 0.86. In simple terms, IBN traded in-line with the US financial sector for the past six months and dropped by 50%; underperforming India’s BSE Sensex which fell by 15% during the same period.

But the stock has been volatile recently. This is because rates are going up in India, and the perception is that this would weigh on financials. I spoke with my best India contact, and he told me that just because rates are moving higher doesn't mean that credit demand won't continue among India's burgeoning consumer base.

ICICI Bank of India (NYSE: IBN) is a recent entry to the Cara 100. As the leading lender, with a phenomenal five-year Compound Annual Growth Rate of 89.7 pct for mortgage loans and 66.3 pct for consumer loans, ICICI dominates the marketplace in a fast-growing India.

I like their approach towards business. They don't sit in their cushy office, swatting-flies ..waiting for U to show up. Instead they put their people/representatives where the action is. They go out to get your business.

Real estate markets, auto dealerships... U name it they have a dude with a loan-approval form for U. If U R too busy...the rep will come to your house with the paperwork.

People trust them, coz they have a reputation of fair-play...e.g. passing-on the spoils to end-customers when interest rates fall etc.

Great for long-term hold too.