Annual Report 2018-19
Message from the Wholetime Directors

Sandeep Bakhshi

Managing Director & CEO

Over the past year, we as a team have worked single-mindedly towards strengthening ICICI Bank’s balance sheet and franchise, and increasing the Bank’s share of profitable business opportunities. We believe these efforts are reflected in the core operating profit growth, the substantial increase in provisioning coverage and the reduction in net NPAs. As India continues its march to become a USD 5 trillion economy in the next few years, we will work towards maximising our share of the opportunity. Our objective is to grow our core operating profit and to reduce the credit costs to a normalised level, thereby delivering sustainable returns to our shareholders. ‘Fair to Customer, Fair to Bank’ is an essential element of our approach. We have made significant changes in our organisation to align ourselves to the opportunity and to ensure seamless and collaborative efforts across the Bank. We thank our stakeholders for the confidence reposed in us, and look forward to your continued support.

Anup Bagchi

Executive Director

The customer has always been at the core of ICICI Bank’s retail strategy. In fiscal 2019, the Bank launched new initiatives in both loans and deposits segments to offer more convenience to customers. We added a few more digital lending products to our bouquet of instant loans by leveraging technology and data analytics. The list includes instant home loan approvals to pre-approved customers, instant top-up home loans to existing customers, instant approval for car and two-wheeler loans and instant digital credit called 'PayLater'. We have also launched an array of products to add more value to our customers’ lives with new savings accounts, innovative fixed deposit plans, and credit cards in association with various partners.

Sandeep Batra

Executive Director

The Bank’s risk management policies of the last few years have resulted in improving incremental asset quality even as slippages from the older portfolio reduced. The Bank has improved the rating mix of the portfolio and reduced the concentration risk, along with expansion of net interest margin. We will continue to drive efficiencies by decongesting and automating our processes. We are focussed on growth in core operating profits and lower credit costs, within the guardrails of sound risk management and a commitment to regulatory compliance. We will continue to adhere to strong governance standards as we focus on sustainable growth and value creation.

Vishakha Mulye

Executive Director

In fiscal 2019, we continued with our risk calibrated growth strategy and strengthened our wholesale banking franchise with the objective of capitalising on market opportunities and growing our core operating profit. We continued to grow our credit portfolio with focus on granularity, transaction banking and improvement in the credit rating profile, with enhanced focus on pricing. We maintained our recovery and resolution efforts on the nonperforming assets. We reorganised our business in line with market opportunities, put more effective cross-sell strategies in place for both retail and corporate products. We also increased the number of branches serving corporate clients and introduced innovative products and solutions such as digitised trade offerings for superior customer experience.

* Will be inducted as a member with effect from the date of RBI approval of his appointment.