REPORT
2018-19
Digital Banking Solutions
Convenient | Fast | Safe
ICICI Bank has played a pioneering role in the digital transformation of the financial services industry in India. We continuously invest in innovative products and state-of-the-art platforms that leverage emerging technologies to make banking easier, safer, more personalised, more accessible and more intuitive for our customers and also enable us to become more agile and more efficient.
The customer is at the centre of all our initiatives and we believe in being ‘Fair to Customer, Fair to Bank’.
At ICICI Bank, we believe that digitally-enabled banking solutions not only empower our customers to fulfil their ambitions but also create value for our stakeholders.
Bouquet of 'insta' products
In fiscal 2019, the Bank extended its range of first-of-its-kind 'insta' offerings, enabling retail and MSME customers to avail these products in a digital manner, without visiting a branch.
iPal resolved over
13 million queries
The Bank's AI-powered chatbot resolved over 13 million customer queries in fiscal 2019.
Best Company to Work for
Business Today magazine ranked the Bank as the 'Best Company to Work for' in the BFSI sector in fiscal 2019 for the third year in a row.
Skilled over 400,000 individuals
ICICI Foundation for Inclusive Growth imparted vocational training to over 400,000 less-privileged individuals since inception.
Vision
To be the trusted financial services provider of choice for our customers, thereby creating sustainable value for our stakeholders
Mission
To grow our risk-calibrated core operating profit by:
- Delivering products and services that create value for customers
- Bringing together all our capabilities to seamlessly meet customer needs
- Conducting our business within well-defined risk tolerance levels
RETAIL, SME AND RURAL BANKING
We offer deposit, credit and other financial products and services to individuals, households and small businesses across India, through our digital channels and extensive branch network spanning urban and rural areas. We also offer select products like deposits and remittances to non-resident Indians, and local market offerings in select international geographies.
WHOLESALE BANKING
We offer financial solutions to large and medium sized companies and their business and channel partners, and to financial and government/public sector entities. The product offerings include deposits, long-term finance, working capital, trade, cash management, transaction banking and treasury management. In addition to our network in India, we leverage our international presence to meet the cross-border requirements of our clients.
TREASURY
Our treasury operations comprise management of the Bank’s liquidity, government securities portfolio and interest rate risk, proprietary trading, and foreign exchange and derivative solutions for clients.
TOTAL DEPOSITS
TOTAL ADVANCES
TOTAL ASSETS
CAPITAL ADEQUACY
NII & NIM
PROVISION COVERAGE
RATIO
UNCONSOLIDATED NET
PROFIT
CORE OPERATING
PROFIT
The Bank has focussed on growing risk calibrated operating profit by leveraging its strong franchise, and building a more granular and higher rated portfolio.
Girish Chandra Chaturvedi
Chairman
Sandeep Bakhshi
Managing Director & CEO
Anup Bagchi
Executive Director
Sandeep Batra
Executive Director
(Designate)*
Vishakha Mulye
Executive Director
(Based on the principles of International Integrated Reporting Framework)
ICICI Bank has focussed on being a future-ready organisation and has consistently evolved its capabilities to ensure agility and value creation in its businesses. This focus is integral to the Bank’s strategy and underscores the several pioneering initiatives taken by the Bank
Meeting customer needs
The objective of the Bank is to develop products and services that create value for customers. Technology and digitisation play an integral part in meeting this objective. The Bank focuses on providing high levels of functionality and investing in technologies to provide a secure, superior, seamless and uniform service experience to customers across all channels.
PHYSICAL CHANNELS AT MARCH 31, 2019
Branches
ATMs
Insta-banking kiosks
POS terminals*
Cash acceptance machines
* ICICI Merchant Services Pvt. Ltd.
Enhancing customer service
Customer service is an important pillar of banking and the Bank makes continuous efforts towards improving customer experience and operational efficiency. A rapidly changing economic and technological landscape has created new dimensions in customer expectations from banks. Speed and convenience are two key drivers in meeting these expectations. To keep up with evolving customer expectations, the Bank is increasing its focus on customer delight and advocacy.
The Bank follows a 4D framework to map the entire customer journey across products, processes and channels.
THE 4D FRAMEWORK
Technology at the core
The Information Technology (IT) Strategy adopted by the Bank is to provide an integrated, resilient and responsive technology environment that enables it to achieve its business goals of risk calibrated granular growth, cost-effectiveness and a superior customer experience in a secure and compliant manner. In line with this strategy, the Bank has adopted the theme of Run, Transform and Re-Imagine for its digital and technology initiatives to remain at the forefront of transformation in the Indian banking industry
At ICICI Bank, the triad of Confidentiality, Integrity and Availability (CIA) are at the heart of its comprehensive information security framework. With a 360-degree approach to cyber security, the Bank believes that this is a continuous journey in line with rapidly evolving digital technologies and developments in the external risk landscape.
Risk calibrated growth
The Bank is committed to ensuring long-term risk calibrated growth based on its strategic objectives. The Bank’s performance in fiscal 2019 was aligned to its focus on pursuing this strategy based on opportunities and its risk appetite. The Bank’s core operating profits (i.e. operating profits excluding treasury income) grew by 16.5% in fiscal 2019, led by broad-based growth in domestic businesses. The growth was supported by strong risk management practices leading to further reduction in concentration and improvement in the rating composition of the portfolio. The Bank’s rating mix of disbursements has changed significantly. Over 90% of the disbursements in fiscal 2019 in the domestic and international portfolio were to corporates rated A- and above.
CONCENTRATION RISK MANAGEMENT
(in %)
Risk is an integral part of the banking business and the Bank aims at achieving an appropriate trade-off between risk and returns
INDEPENDENT GROUPS FOR MONITORING RISKS IN THE BANK
Several independent groups and sub-groups have been constituted to facilitate evaluation, monitoring and reporting of risks. These groups function independently of the business groups.
Our commitment towards social empowerment and a financial ecosystem accessible to all
Impact on natural resources either through our operations or business focus