You are here » Home » Companies » Company Overview » ICICI Bank Ltd

ICICI Bank Ltd.

BSE: 532174 Sector: Financials
NSE: ICICIBANK ISIN Code: INE090A01021
BSE 00:00 | 29 Nov 718.20 -3.75
(-0.52%)
OPEN

724.55

HIGH

726.80

LOW

710.80

NSE 00:00 | 29 Nov 718.40 -3.80
(-0.53%)
OPEN

726.75

HIGH

727.75

LOW

710.50

OPEN 724.55
PREVIOUS CLOSE 721.95
VOLUME 491456
52-Week high 859.70
52-Week low 472.20
P/E 25.60
Mkt Cap.(Rs cr) 498,460
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 724.55
CLOSE 721.95
VOLUME 491456
52-Week high 859.70
52-Week low 472.20
P/E 25.60
Mkt Cap.(Rs cr) 498,460
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

ICICI Bank Ltd. (ICICIBANK) - Chairman Speech

Company chairman speech

The performance of the Bank in terms of growth portfolio quality andprofitability is a result of the focussed execution of its strategy over the past fewyears.

The year gone by saw the world faced with possibly its greatestchallenge in living memory. The health crisis and economic challenges caused by theCOVID-19 pandemic have demanded exceptional efforts on every front. India navigated thecomplex and challenging environment during fiscal 2021 driven by a determined response byour medical professionals frontline workers communities and the policy measures of thegovernment and regulatory authorities. Most parameters of economic activity returned topre-COVID levels by the last quarter of the fiscal year. However a second wave of thepandemic emerged in late fiscal 2021 that saw a significant increase in infections acrossthe country in urban and rural areas. The receding of this second wave in recent weeksand the acceleration of the vaccination programme raise hopes of a gradual return to amore normal environment as the year progresses.

In this uncertain environment ICICI Bank has accorded the highestpriority to the continuity of service to our customers and the safety of our employeesand ensuring that the Bank is resilient against potential risks and well- poised tobenefit from the recovery. our employees have demonstrated immense professionalism anddedication towards the successful navigation of these challenges by our institution. onbehalf of the Board I would like to thank all employees for their dedication and responseduring this difficult period and for upholding the ethos of brand ICICI.

During fiscal 2021 significant provisions were made to cushion thebalance sheet from the potential risks arising out of uncertainties around the trajectoryof the pandemic and level of economic activity. throughout the year the Bank carriedsubstantial excess liquidity as it saw very healthy deposit inflows. Despite thechallenging environment the Bank saw a healthy growth in core operating profit and profitafter tax in fiscal 2021. the Bank raised additional equity capital with the objective offurther strengthening its capital adequacy and improving its competitive positioning.While regulatory guidelines did not permit banks to declare dividend last year the Boardof Directors has recommended payment of dividend to the shareholders in the current year.

The performance of the Bank in terms of growth portfolio quality andprofitability is a result of the focussed execution of its strategy over the past fewyears. the Bank's consistent focus on growing its deposit franchise and its ability toraise deposits at low cost have enabled it to compete effectively in lendingopportunities. The Bank has adopted an ecosystem-based approach seeking to effectivelyand holistically serve the needs of customers and their networks backed by a strongemphasis on internal collaboration and synergy. The risk frameworks within which the Bankhas conducted its business have proved resilient in the face of the disruption caused bythe pandemic.

Our continuing efforts to promote a cashless ecosystem and enabledigital access to financial services proved invaluable in an environment of socialdistancing and restrictions on movement. our strategy based on a customer-centricapproach enabled us to respond to the needs of our customers and launch digitalalternatives for them to stay connected and meet their financial needs. We launchedinitiatives like the iciG STAcK to enable banking on digital platforms for all customersegments. ICICI Bank continues to create innovative convenient and comprehensive digitalexperiences for our customers.

The Board is committed to ensuring that ICICI Bank is a future-readyand resilient organisation with a focus on long term value-creation. our business isunderpinned by strong governance and risk management practices and an ethos of being atrustworthy financial institution. During the year the Board and its committees conductedregular reviews to assess the Bank's response to the challenges posed by the pandemic andevaluating its impact on our business and loan portfolio. From a longer term perspectivea wide range of issues and risks were reviewed to ensure organisational resilience and theresponsiveness of the Bank to the evolving environment particularly with relation totechnology. the Board is focussed on critical aspects like cyber security and dataprivacy and the scalability and resilience of the Bank's technology architecture.

We are sensitive to our role within our ecosystem that includescustomers employees suppliers communities and the environment. Maintaining integrityfairness and transparency are important values for us in our engagement with ourstakeholders. Ensuring right-selling of products to our customers and the philosophy of'Fair to customer Fair to Bank' are core to our strategy. We continue to instil a senseof accountability and ethics among employees through robust policies and stronggovernance. our governance culture supported by sound risk management is aimed at ensuringwe remain resilient during challenging periods and forge a sustainable future for theorganisation.

We thank all our stakeholders and look forward to your continuedsupport.

With best wishes
Girish Chandra Chaturvedi
Chairman

.