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Annual Report 2023-24

BANK AT A GLANCE

₹408.88 billion

Profit After Tax*

₹544.79 billion

Profit Before Tax Excluding Treasury*

₹442.56 billion

Consolidated Profit After Tax*

4.53 %

Net Interest Margin*

₹18,715.15 billion

Standalone Total Assets

₹14,128.25 billion

Total Deposits

₹11,844.06

Total Advances

16.33%

Capital Adequacy Ratio

*During fiscal 2024; others at March 31, 2024

A banner announcing that more than 30 million users are on iMobile Pay, displayed on a red background with white text. An icon representing a mobile phone with signal waves is shown on the left side of the text.

More than 30 million users on iMobile Pay

iMobile Pay, ICICI Bank’s mobile banking application, has more than 30 million users. The total value of transactions done through this app stood at close to ₹11,000 billion in fiscal 2024.

A banner highlighting that there are over 4,600 APIs, displayed on a red background with white text. An icon representing a mobile phone with arrows indicating data exchange is shown on the left side of the text.

22% growth in volume of transactions on InstaBIZ

The volume of financial transactions on InstaBIZ, the Bank’s one-stop solution for all banking needs of business banking customers, grew by 22% in fiscal 2024.

A banner announcing a 22% growth in the volume of transactions on InstaBIZ, displayed on a red background with white text. An icon representing a mobile phone with a grid of four squares is shown on the left side of the text.

iLens platform for mortgages, enhanced to personal loan and education loan

iLens, ICICI Bank’s lending solution, is an industry-first end-to-end digital lending platform covering the entire loan life cycle. It is a single interface that allows employees, third party agencies and sourcing channels to collaborate to facilitate faster turnaround of loan applications, greater transparency of loan status and an enriched customer experience. In addition to mortgages, the platform is now extended to personal and education loan offerings.

A banner stating '16 million cards in force' on a red background with white text. An icon representing two credit cards is displayed on the left side of the text, indicating the large number of cards in circulation.

Over 70% digital trade transactions

Of all the eligible trade transactions processed through the Bank, over 70% were done digitally.

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FINANCIAL HIGHLIGHTS

TOTAL DEPOSITS

A bar chart displaying the growth in total deposits from March 2020 to March 2024. The chart shows three categories: Current Account, Savings Account, and Term Deposit, with total values marked at the top of each bar. The total deposits increased from ₹7,709.69 billion in March 2020 to ₹14,128.25 billion in March 2024, indicating a steady rise over the years.

TOTAL ADVANCES

A bar chart illustrating the growth in total advances from March 2020 to March 2024, segmented into Retail, Rural Loans, Business Banking, Domestic Corporate & SME, and Overseas categories. The chart shows that total advances increased from ₹6,452.90 billion in March 2020 to ₹11,844.06 billion in March 2024, with the largest share consistently held by Retail advances, followed by Domestic Corporate & SME and other categories.

NET WORTH

A bar chart showing the increase in net worth from March 2020 to March 2024. The net worth, comprising equity share capital, employees stock options outstanding, reserves, and surplus, grew from ₹1,165.04 billion in March 2020 to ₹2,383.99 billion in March 2024.

CAPITAL ADEQUACY

A bar chart depicting the capital adequacy ratios from March 2020 to March 2024. The chart shows Tier I, Tier II, Common Equity Tier 1, and total capital adequacy ratios. The total capital adequacy ratio increased from 16.11% in March 2020 to 16.33% in March 2024, with variations in Tier I and Tier II contributions over the years.

NII & NIM

A bar chart showing the growth of Net Interest Income (NII) in billion rupees and the Net Interest Margin (NIM) percentage from FY2020 to FY2024. The NII increased steadily from ₹332.67 billion in FY2020 to ₹743.06 billion in FY2024, while the NIM also grew from 3.73% in FY2020 to 4.53% in FY2024.

PROVISION COVERAGE RATIO & NET NPA RATIO

A bar chart showing the Provision Coverage Ratio (provisions on gross NPAs as a percentage of gross NPAs) and the Net NPA Ratio (based on customer assets) from March 2020 to March 2024. The Provision Coverage Ratio increased from 75.7% in March 2020 to 80.3% in March 2024, while the Net NPA Ratio decreased from 1.4% in March 2020 to 0.4% in March 2024.

PROFIT BEFORE TAX (EXCLUDING TREASURY INCOME)

A bar chart displaying the Profit Before Tax (excluding treasury income) from FY2020 to FY2024, measured in billion rupees. The profit shows a steady increase from ₹127.55 billion in FY2020 to ₹544.79 billion in FY2024.

STANDALONE NET PROFIT

A bar chart depicting the Standalone Net Profit from FY2020 to FY2024, measured in billion rupees. The net profit shows a consistent increase from ₹79.31 billion in FY2020 to ₹408.88 billion in FY2024.
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MESSAGE FROM THE CHAIRMAN

During fiscal 2024, the Bank continued to focus on growth in risk-calibrated profits, pursuing opportunities across business segments and geographies, within the guardrails of risk and compliance. The growth in business was broad-based underpinned by the Bank’s focus on micromarkets and ecosystems.

Girish Chandra ChaturvediChairman

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MESSAGE FROM THE WHOLETIME DIRECTORS

A professional portrait of Sandeep Bakhshi, the Managing Director & CEO of ICICI Bank, wearing a formal dark suit and a red tie, standing against a neutral background. The text below his image reads Sandeep Bakhshi, Managing Director & CEO in white text on a red background.

Sandeep Bakhshi

Managing Director & CEO

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Sandeep Batra

Executive Director

A professional portrait of Rakesh Jha, the Executive Director of ICICI Bank, wearing a formal dark suit, white shirt, and red patterned tie, standing against a neutral background. The text below his image reads Rakesh Jha, Executive Director in white text on a red background.

Rakesh Jha

Executive Director

A professional portrait of Ajay Kumar Gupta, the Executive Director of ICICI Bank, dressed in a dark suit, white shirt, and light-colored tie, with a neutral background. The text below his image reads Ajay Kumar Gupta, Executive Director in white text on a red background.

Ajay Kumar Gupta

Executive Director

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BUSINESS MODEL

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OUR BUSINESS STRATEGY

Strengthening our operational resilience and enhancing delivery systems to achieve sustainable growth.

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OUR VALUES

The Bank lays strong emphasis on risk and compliance and creating awareness among employees on the core values and desired behaviour.

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FAIR TO CUSTOMER, FAIR TO BANK

The Bank continues to deepen its engagement with customers and further simplify delivery processes and digital platforms, with a sharp focus on enhancing efficiency and resilience.

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RISK GOVERNANCE FRAMEWORK

The Bank is committed to achieve responsible and sustainable growth, underpinned by our core values of Return of Capital, Agile Risk Management and Compliance with Conscience.

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RESPONDING TO RISKS AND OPPORTUNITIES

The Bank recognises the importance of adopting a rigorous approach to understanding and responding to risks and opportunities that enables long-term value creation for all stakeholders.

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MATERIALITY ASSESSMENT

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Stakeholder Identification

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Identifying the Universe of Relevant ESG Topics

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Stakeholder Consultation

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Data Collection and Analytics

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Calibration of Results

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HUMAN CAPITAL

The Bank’s success is anchored by its people and a culture of ‘One Bank, One Team’ driving its business.

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SOCIAL AND RELATIONSHIP CAPITAL

An ongoing engagement with our stakeholders is important for the Bank to understand matters relevant to them and create sustainable value for all.

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ICICI Bank representatives engaging with a group of local women during a community outreach meeting. The women, dressed in traditional attire, are standing around a table where two bank employees are discussing and reviewing documents. The scene reflects ICICI Bank's efforts in financial inclusion and community support, focusing on empowering local communities through direct engagement and consultation.

ENVIRONMENT AND SUSTAINABILITY

Incorporating sustainability into the Bank’s operations and business is an ongoing process that supports our objective of minimising environmental impact and contributing towards a sustainable future.

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A graphic representation showcasing ICICI Bank's sustainability initiatives focused on reducing CO2 emissions. The central cloud icon with downward arrows symbolizes CO2 reduction, surrounded by icons representing various sustainable practices such as renewable energy, waste management, water conservation, and sustainable agriculture. The image highlights ICICI Bank's commitment to environmental sustainability and responsible resource management.

CHAPTER DOWNLOADS

Board’s Report
Management Discussion & Analysis
Key Financial Indicators: Last 10 Years
Financial Statements of ICICI Bank Limited
Consolidated Financial Statements of ICICI Bank Limited and its Subsidiaries