Corporate Governance is a complex topic because there is no clear basis as to what constitutes perfect Corporate Governance. Undoubtedly, the success of a company largely depends on sound governance mechanisms. This paper attempts to study the relationship of corporate governance practices and financial success of a firm. The aim here is to know whether there is any relationship of Corporate Governance Practices to the profitability and value of firm. The governance needs of banks are different from the other industries. The reason for such a difference is the assets and liabilities composition of a bank. ICICI Bank is considered to be the most successful private sector bank in India in terms of technology and innovations. A Corporate Governance Index for bank is prepared and it is used as a measure to know the extent of Governance Practices of ICICI Bank. The total score of the index is used to find the correlation of the Governances practices of ICICI bank and its financial performance in terms of financial indicators viz, ROA, NIM, PBV and Tobins Q. A stronger correlation is found to be existing between Corporate Governance Index and ROA and NIM and a weak correlation of Corporate Governance index is observed with PBV and Tobins Q