Message from the Wholetime Directors and President

Sandeep Bakhshi

Managing Director & CEO

During fiscal 2020, ICICI Bank continued to strengthen its banking franchise. Our guiding philosophy has been ‘Fair to Customer, Fair to Bank’ emphasising the need to deliver a fair proposition to customers while creating value for shareholders. We see our state-of-the-art digital platforms as a key strength, and leverage these with the objective of delivering exceptional value to our customers. Our Bank posted healthy growth in core operating profit, coupled with a robust deposit franchise and a strong balance sheet. Our long-term strategic focus is to grow the core operating profit in a risk-calibrated and granular manner.

Team ICICI Bank is committed to standing by its customers and stakeholders in these extraordinary times of the Coronavirus pandemic. Our employees have shown immense resilience and willingness to serve customers, with about 97% of the branches being functional during the lockdown along with an operational ATM network. We further accelerated our digital delivery with an array of new offerings to ensure uninterrupted services to our customers. In these challenging times, we remain committed to participating in the growth of the economy. In the process, we will also strive to emerge stronger as an institution. We thank our stakeholders for the faith that they have placed in us and look forward to their continued support.

Anup Bagchi

Executive Director & CEO

Our philosophy of offering superior experience to customers using digital technology remained unchanged in fiscal 2020. We brought in a bouquet of new products and services to further enhance customer convenience. We launched 'InstaBIZ', the country’s first digital banking platform for businesses. It enables them to undertake almost all of their banking transactions digitally. We also launched India’s largest and fully digital ‘API Banking Portal’ enabling partners to integrate solutions within a few days. In the wake of the Coronavirus outbreak, we launched ‘ICICIStack’, which offers over 500 services, many of which are industry-first. This allows our customers digital access to services related to account opening, loan solutions, payment solutions, investments and care solutions. I am happy to inform that over 88% of our savings account transactions were done digitally in fiscal 2020. Further, we have worked actively to provide protective equipment to assist government bodies, and police forces across the country in their efforts to safeguard the citizens of the country.

Sandeep Batra


In fiscal 2020, ICICI Bank continued to focus on risk-calibrated and granular growth of core operating profit. With a customer-centric approach and continuous enhancement of delivery capabilities, the Bank has leveraged growth opportunities while operating within the guardrails of risk management. Risks in the operating environment have increased substantially owing to the Covid-19 pandemic that has created unprecedented challenges. Even in these circumstances, we continue to invest in our technology, data sciences and operations capabilities to enhance customer offerings and launch new digital solutions. We have also streamlined processes keeping technology as the underlying driver, which has enabled us to significantly move all customer servicing requests to a digital ecosystem from the traditional paper-based one. The key priorities continue to be maintaining healthy liquidity and robust credit monitoring. We will further strengthen our balance sheet as opportunities arise. We are committed to building a sustainable and responsible business while creating value for all our stakeholders.

Vishakha Mulye

Executive Director

We are going through a period of high volatility. Wide ranging changes in the external environment and changing customer needs are impacting the way we do business. There is rapid evolution of the digital infrastructure and competitive landscape in the country. We are seeing convergence of debt markets and institutional credit. Against this backdrop, in addition to being a long-standing provider of capital to businesses, our Bank has embarked on a strategy to serve Corporate Ecosystems comprehensively. This approach is built on a digital foundation with data becoming increasingly the basis of product design and decisioning, and APIs becoming the preferred mode of seamless service delivery. Built on the fundamental foundation of strong underwriting standards which ensure return of capital, these measures along with our valuable franchise and our market positioning as a leading and trusted partner for our clients, enhance our competitive positioning and lead to creating value for our stakeholders.