ICICI Bank’s objective is to grow the core operating profit in a risk-calibrated manner, based on the principles of ‘Fair to Customer, Fair to Bank’ and ‘One Bank, One ROE’.

The Bank’s strategic focus in fiscal 2022 continued to be on growth in core operating profit within the guardrails of risk and compliance. The Bank’s core operating profit grew by 22.3% during fiscal 2022 to ₹383.47 billion, through the focussed pursuit of target market segments. The domestic loan portfolio grew by 17.5% year-on-year to ₹8,177.36 billion. The Bank grew its business with a focus on granularity and saw healthy growth across retail, small and medium enterprise and business banking portfolios, and in current and savings account deposits on a daily average basis.

The Bank’s strategy of growing the loan portfolio in a granular manner is underpinned by a focus on risk and reward, with return of capital and containment of provisions below a defined percentage of core operating profit being key imperatives. While there are no targets for loan mix or segment-wise loan growth, the aim is to continue to grow the deposit franchise, maintain a stable and healthy funding profile and competitive advantage in cost of funds.

ICICI Bank aims to grow strategically by building platforms and offering seamless journeys to customers. Six value drivers form the crux of the Bank’s strategy in delivering services to customers:


A 360° customer-centric approach

One-stop for meeting all banking needs of customers with a focus on risk and reward

Focus on ecosystems

Serving customers and their ecosystems

Focus on micromarkets

Building a localised understanding of market requirements through analytics and developing an efficient distribution and resource allocation strategy

Internal cross-functional collaboration and external partnerships

Enhancing the Bank’s ability to deliver services by encouraging collaboration within the organisation and external partnerships

Process decongestion and operational flexibility

Emphasis on decongestion of processes to improve the customer experience and internal efficiency

Bank to Bank Tech
- Leveraging technology and digital across businesses

Developing digital platforms that deliver seamless digital journeys for all segments of customers backed by a robust technology architecture

The Bank is investing in areas that are critical for delivering enhanced customer experiences, boosting productivity and improving operational efficiency. Enabled by technology, the Bank is focussing on growing its share across all businesses by attracting new customers and deepening wallet share among existing customers. The Do-it-Yourself (DIY) digital solutions and ‘Insta’ products combined with universalisation of mobile applications and 'Insta' products are accelerating the Bank’s reach across customer segments.

Along with business growth, the Bank is also maintaining a strong risk and capital management strategy and seeking to ensure a balance of risks and rewards. The twin principles of 'One Bank, One ROE', emphasising the need to maximise the Bank’s share of the target opportunity across all products and services, and 'Fair to Customer, Fair to Bank' emphasising the need to deliver fair value to customers while creating value for shareholders, will continue to guide the Bank’s operations. Building trust with all stakeholders is critical to the Bank’s growth. The Bank is working to build a culture where every employee upholds these principles. The Bank aims to align the organisation structure to emerging opportunities and enabling cross-functional collaboration, encourage a culture of experimentation and build a service-oriented approach towards internal and external customers.




Adopting a solution- oriented approach


Building the distribution model with client at the core


Aligned to the texture of the catchment


Right solution for customer not dependent on team / segment

A customer-centric approach is core to ICICI Bank’s efforts in creating delightful experiences for customers. This has been enabled by adopting a solution-oriented approach to meeting all financial needs of a customer and designing solutions that are product and segment- agnostic. The approach is to take the entire bank to the customer and offer solutions for the customers and their ecosystems.

Using ICICI STACK, the Bank is offering solutions to customers on digital platforms and ensuring uninterrupted banking experience for all types of customers. The Bank has been creating intuitive customer journeys and offering personalised solutions to suit their life stage and business needs. Services offered include instant digital account opening, loan solutions, payment solutions, investments and insurance solutions.


During the year, the Bank launched 'ICICI STACK for Corporates' offering comprehensive solutions to corporates and their ecosystems, like channel partners, dealers, vendors, employees and other stakeholders, thus taking the full bank to the customer. The Corporate STACK offers customised digital banking services to companies in over 20 key industries. The four main pillars of ‘ICICI STACK for Corporates’ include digital banking solutions for companies; digital banking services for channel partners, dealers and vendors; digital banking services for employees; and curated services for promoters and senior management.

The Bank’s strategy in the merchant ecosystem space involves onboarding merchants through acquiring platforms or by providing them payment gateways and then cross-selling other financial products and services seamlessly. During fiscal 2022, the Bank launched 'Merchant STACK' which offers an array of banking and value-added services to retailers, online businesses and large e-commerce firms. The main pillars of the 'Merchant STACK' include a zero-balance Super Merchant Current Account which offers various benefits such as digital account opening and instant overdraft facilities based on point-of-sale transactions. Merchants can also perform instant reconciliation by using the Connected Banking services, which integrates banking with the merchants’ accounting system. The STACK also offers a digital store management feature for invoicing, inventory and collections management.


The e-commerce ecosystem lends significant opportunities for the Bank to offer digital solutions to customers and merchants selling their goods through e-commerce websites. The Bank introduced ‘cardless EMI’ facility, which enables pre-approved customers of the Bank to convert their transactions into EMIs at the check-out section of the e-commerce website or app. In another initiative, the Bank partnered with Amazon India and Flipkart to offer instant overdraft facility to their registered sellers with end-to-end digital processing. Some key solutions offered to e-commerce entities and their sellers include overdraft facility, composite pay APIs enabling payments through multiple channels, working capital, foreign currency fixed deposit and easy payment solutions. For customers of e-commerce platforms, the solutions offered include wallet, prepaid and co-branded credit cards and instant credit through the Bank’s PayLater solution. The value of transactions through composite pay APIs in fiscal 2022 was 4.6 times the value of transactions in fiscal 2021.

The major metro cities in India offer significant opportunities surrounding inter-connected ecosystems. During fiscal 2022, the Bank opened 12 exclusive branches for ecosystem banking in Delhi and Mumbai. These ecosystem branches are full service centres that house multi-functional teams with expertise required to meeting the needs of corporate customers and bringing the entire bouquet of services of the Bank to these corporates and their ecosystem.


A key underpinning of the Bank’s customer-centric and service-oriented approach has been to develop a granular perspective on markets through use of data analytics and market intelligence. The granular profiling of markets has helped the Bank in delivering value to customers in every segment. This research and knowledge through analytics helps the frontline teams to understand the markets in which they operate, and plan localised strategies with tailored propositions for customers. The insights from the micromarket analysis are used in conjunction with other factors for planning, resourcing, channel and product alignment, capability building and marketing and alliances.

The Bank has categorised certain branches under different affinities based on the nature of the micromarket catchments in which they operate. Branch layouts, branding elements, staffing and capability building in these branches are based on their market affinities. Micromarket insights have helped the Bank to identify optimal locations for opening new branches and for realigning its ATMs and distribution network based on customer needs and market opportunity. It has helped the Bank to launch focussed marketing campaigns targeted at specific customer segments and also to establish alliances with locally relevant partners who add value to our customers.

The combined levers of micromarket assessment and digitisation have played a key role in driving growth and efficiency of branches. The Bank is now able to serve more customers at its existing branches and has enabled employees to perform more value- added activities. ICICI Bank's network at March 31, 2022:



2,983Cash Acceptance Machines

1,102Insta Banking Kiosks


As the Bank progressed on its journey of Bank to Bank Tech, several digital innovations with rich features and functionalities and seamless access to digital channels were launched during fiscal 2022. The Bank’s digital platforms have transformed to provide best-in-class end-to-end seamless digital journeys, with the ability to offer personalised solutions, enable data-driven cross-sell and up-sell, onboard new customers, enable self-service and provide value-added features. The open architecture platforms have enabled the Bank to extend banking services even to non-ICICI Bank account holders. During fiscal 2022, the Bank’s digital channels have seen a significant increase in traffic from customers and non-Bank account holders. Digital channels account for over 90% of financial and non-financial savings account transactions.


iMobile Pay: Universal App for Individuals

The Bank’s open architecture based mobile application for individuals, iMobile Pay, provides seamless transaction features and end-to-end digital journeys for savings account, personal loan, home loan, car loan, payments, credit card, term life and health insurance and investments. The feature ‘Pay to Contact’ enables users to automatically see the UPI IDs of their phone contacts and easily transfer money to any payment app or digital wallet via UPI. The ‘Scan to Pay’ feature allows users to make bill payments by scanning the QR code. Other features introduced on iMobile Pay include 'Tap-to-Pay' which enables customers to make card payments without the need to carry a physical card, linking non-ICICI Bank credit cards in the app for payments, outward remittances and smart checkout. These features have led to a significant increase in adoption of iMobile Pay. The Bank has recently introduced the outward remittances feature, 'Money2World', on the iMobile App for seamless cross-border transfer of funds. The Bank now offers end-to-end digital journeys for new-to-bank customers on iMobile Pay for products such as credit cards, personal loans, savings accounts and demat accounts.


6.3 million

activations of iMobile Pay by non-ICICI Bank account holders as of March 31, 2022.

Digital Payments and Partnerships

The Bank has continued to strengthen its position in the digital payments ecosystem by designing seamless journeys for customers, facilitating higher volumes of transactions and prompting recurrent digital transactions. The volume of UPI person-to-merchant transactions increased by 57.5% year-on-year in fiscal 2022 and the value of these transactions was 2.3 times the value in fiscal 2021.

The Bank has partnered with Amazon Pay and MakeMyTrip to offer co-branded credit cards. Over three million Amazon Pay credit cards were issued till end-March 2022. The Bank aims to provide 360˚ solutions to the new-to-bank customers that have been acquired through Amazon Pay credit cards. During fiscal 2022, the Bank launched several co-branded credit cards to enable customers to earn rewards and benefits. The growth in credit card transactions was driven by higher activation rate through digital onboarding of customers, automated and effective portfolio management and diversification through commercial cards.

The value of credit card
transactions in
fiscal 2022 was

2.1times the value in
fiscal 2021

The Bank’s market share in
credit card transactions
by value increased to

20.1%in fiscal 2022 from

14.6%in fiscal 2021

The Bank’s market share
in credit cards in force
increased to

17.6%as at March 31, 2022 from

17.1%as at March 31, 2021

A market leader
in FASTag with
market share of about

33%in fiscal 2022;
collections through
FASTag higher by

51.9%year-on-year in
fiscal 2022


During fiscal 2022, the Bank introduced iLens, an integrated, end-to-end digital lending solution for mortgages which covers all facets of the loan life cycle starting from sales till disbursement including property appraisal. It is a single interface for employees, third-party agencies and distribution channels with the objective of providing superior transacting experience and enhanced operational efficiency. It also offers seamless experience to new-to-bank and existing customers through instant sanction letters, option for disbursement initiation and real-time loan tracking.

The Bank also introduced digital processing of home loan applications for Non-Resident Indian (NRI) customers. For the NRI customers, the Bank has introduced ‘Do-It-Yourself Home Loan’ application, address change, re-KYC and mandate holder registration process through the iMobile Pay app.

InstaBIZ: a Comprehensive Open-for-All Digital Platform for MSMEs

The Bank’s comprehensive mobile banking app for businesses, InstaBIZ, offers a host of services. We have seen an increase in the engagement level of business banking customers on the InstaBIZ app.

In line with the philosophy of open architecture, the Bank recently made the InstaBIZ app interoperable. Various features of the app are now available to all merchants including those who do not have a current account with the Bank. Merchants, including those who do not have a current account with ICICI Bank, can instantly create digital collection solutions like UPI ID and QR code and start collecting money from their customers immediately. They can apply digitally for point of sale (POS) devices. Merchants can open a current account instantly and digitally on InstaBIZ. This end-to-end paperless process leverages the Bank’s advanced APIs that auto fill the account opening form and validate the identity of the merchant instantly. Through ‘InstaOD Plus’, customers of any bank can avail an overdraft (OD) up to ₹2.5 million instantly. Customers of ICICI Bank can activate the OD into their current account instantly, while customers of other banks can do so after opening of a current account with the Bank digitally by using Video KYC.

Digital Platforms and Solutions for Corporate Customers

The Bank’s digital offerings for large corporates and their ecosystems include digital platforms for domestic and international trade and industry-specific solutions across the value chain. Platforms offered to corporate customers as a part of STACK include the corporate internet banking platform, Trade online and FXOnline, among others. The Bank’s Trade Online platform allows customers to perform most of their trade finance and foreign exchange transactions digitally. The value of transactions on the Trade Online platform grew by 76.2% year-on-year in fiscal 2022. During the year, ICICI Bank launched ‘Trade Emerge’, an online platform for cross-border trade. A first-of-its-kind initiative, it offers an array of banking and value-added services in one place, and eliminates the need for companies to coordinate with multiple touchpoints. Trade Emerge is a step towards developing banking as a platform, targeted at emerging businesses. With this, the Bank aims to ensure a holistic approach to trade fulfilment, and offers a unique competitive advantage because of the end-to-end coverage of the trade journey. Trade Emerge has been integrated with the Bank’s key flagship offerings, Corporate Internet Banking and InstaBIZ.

Recently, the Bank launched a revamped OneSCF, an integrated supply chain platform providing corporate customers, their vendors and dealers with a one-stop solution to efficiently manage their working capital requirements. The corporate clients can also avail seamless end-to-end supply chain financing by integrating with the Bank’s platform through various modes for improving operational efficiency.

A facility to download ‘Easy Balance Confirmation Certificate’ through the Corporate Internet Banking platform was introduced, thus reducing the turnaround time for obtaining confirmations for financial reporting and regulatory purposes. To give a one-stop solution for all statutory requirements of the customer, the Bank has facilitated online payment of customs duty along with direct taxes, GST and various other tax payments. For addressing the challenges and risks associated with the transfer of physical documents, the Bank has partnered with leading electronic bill of lading service providers for facilitating digital transfer of trade documents over the platform. Electronic bill of lading imparts value to the customer by providing operational efficiency and improved cash flow management. These embedded solutions help the Bank to enhance customer satisfaction and improve wallet share.

The Bank’s comprehensive array of solutions to meet the needs of customers and their ecosystems are supported by robust online channels, ecosystem branches and powerful APIs that aim to impart convenience and efficiency to our clients.


Digital Solutions for Non-Resident Indians

The Bank has introduced digital conversion of three-inone accounts for Non-Resident Indian (NRI) customers, and in certain approved geographies, is offering term life insurance digitally. The Bank also introduced mutual fund investment through iMobile Pay for NRI customers.

The Bank implemented the first global tie-up for the India corridor on SWIFT Global Payments Innovation (GPI) Instant for small value personal remittances. For inward remittances, the Bank continues to focus on partnerships with correspondent banks and exchange houses. The functionality for offering instant express facility in the US for new customers through Equifax has been made live. Under this facility, customers are eligible for transfers to India in a shorter duration based on their eligible Equifax score compared to the internal criteria that was applicable earlier. On Outward Remittances, 'Money2World' has been launched on iMobile App for seamless and ease in transferring funds.


ICICI Bank’s extensive range of digital products and services, the rapidly growing digital transactions and the web of interconnected platforms, applications and databases demand the creation of a secure, stable and resilient technology infrastructure. The Bank recognises the need for an effective technology architecture that facilitates faster transactions, is ubiquitous, enables decision-making and creates value proposition for every customer.

The key priorities that dominate the Bank’s technology requirements include its technology platforms, embedded banking, cloud adoption and data platforms and analytics. The Bank has over 600 APIs for retail banking and over 85 for corporate banking, with approximately 100 million financial and non-financial transactions per day.


Customer Engagement Platforms

  • Direct & Embedded
  • Omni Channel
  • Hyper-Personalisation

Integration Layer

  • Intelligent Automation
  • API Gateway
  • Micro-Services
  • Digital Engagement Hub

Core Layer

  • Data Platforms
  • Enterprise Systems
  • Core Systems
  • Integrated CRM


As a part of the Bank’s technology strategy, it is creating an enterprise architecture framework across digital platforms, data and analytics, micro services based architecture, cloud computing, cognitive intelligence and other emerging technologies. This is based on the pillars of scalability, modularity, flexibility and agility, resilience and reliability, and creating delightful and digitally native customer experiences to enable sustainable profitable growth.

The fast emerging technology advancements like cloud computing and data sciences coupled with economics of ecosystems and customer preference are constantly redefining risks and opportunities in a dynamic manner. Re-imagined customer touchpoints and journeys have impacted and transformed customer experiences across segments. Business process optimisation, decongestion in decision-making and new modes of revenue through different economic models and partnerships are getting crystallised. Robotic Process Automation (RPA) has enabled efficiency and automation across various business and operational processes resulting in faster turnaround time besides enabling increased capacity for handling transaction volumes and customer requests.

The Bank has a dedicated data science and analytics team that works across business areas on projects relating to business analytics, decision strategies, forecasting models, machine learning, rule engines and performance monitoring. We maintain a comprehensive enterprise-wide data warehouse and employ statistical and modelling tools for leading-edge analytics.

Over 600APIs for retail banking

Over 85APIs for corporate banking

Close to 100 millionfinancial and non-financial transactions per day


Collaborate and Co-Create Innovative Products with Start-ups to Drive Transformation Aligned with the Bank's Digital Roadmap

In driving an innovation and start-up mindset, the Bank has set up an Innovation Centre to collaborate with and invest in fintech startups and co-develop products aligned with the Bank’s digital roadmap. The engagements with the startups are focussed on payments, digital lending, customer experience, risk management and platforms. The Bank is also offering a host of APIs and Software Developer Kits (SDKs) which facilitate third-party apps to offer payment solutions for their retail customers.

Banking services are increasingly omnipresent and completely embedded into the customer journey, which makes scalability, extensibility, security and agility the cornerstones of development. At the same time, new forms of risks such as social frauds and cyber threats are also a reality. In this context, the Bank has adopted a technological approach that enables us to respond to the changing dynamics in an agile and responsive manner.


With a view to effectively respond to customer requirements, ICICI Bank continues to streamline processes and creating innovative and value-adding solutions. The Bank has empowered frontline teams to identify and leverage local opportunities. The drive on technology has enabled the Bank to not just deliver improved customer experiences but also enhance productivity and improve process efficiencies. A case in point is the decongestion of the customer onboarding process. The Bank has pursued the digitisation of Know- Your-Customer (KYC) processes, and has been one of the early adopters of video-KYC. The Bank has introduced video-KYC across products such as savings account, credit cards, personal loans, mortgage, commercial cards, education loan, travel card, current account and overdraft facility for proprietors and others. This has significantly reduced the time taken to onboard a customer. In addition, the Bank leverages the Central KYC Registry, which is a central repository for KYC information of all customers of financial institutions, for onboarding customers.


The principle of 'One Bank, One ROE', emphasises the need to maximise the Bank’s share of the target opportunity across all products and services. This requires speed, agility and adaptability to the evolving business environment and a key enabler in this regard is the Bank’s human capital. ICICI Bank has focussed on strengthening the workforce by skilling and providing cross-functional opportunities. Job rotation enables employees to have a wider perspective of banking products and services, and go beyond their defined roles to spot opportunities for 360˚ customer experiences. In order to leverage opportunities in city-ecosystems, the Bank has reorganised business teams to enable active collaboration across teams. Cities with large concentrated market opportunities have been organised under ‘city business heads’ covering the full spectrum of ecosystems. This facilitates seamless working of relationship teams and channels in an integrated manner across all products and customer segments.

The principle of ‘Fair to Customer, Fair to Bank’ emphasising the need to deliver fair value to customers will also continue to guide the Bank’s business.



The retail business continued to be a key driver of growth in fiscal 2022, as we pursued a strategy of building a diversified and granular loan portfolio. The Bank’s retail portfolio grew by 19.7% year-on-year to ₹4,546.35 billion at March 31, 2022. Retail loans accounted for 52.9% of total loans, and including non-fund based outstanding, the share was 43.8% in the total portfolio. The Bank has undertaken several initiatives to offer a convenient and frictionless experience to customers by digitising the entire underwriting process, with instant loan approvals.

The Bank continued to maintain a robust funding profile with strong growth in the deposit base. Total deposits increased by 14.2% year-on-year to ₹10,645.72 billion at March 31, 2022. Savings account deposits, on a daily average basis, grew by 23.5% year-on-year in fiscal 2022. Current account deposits, on a daily average basis, grew by 31.0% year-on-year in fiscal 2022. Term deposits grew by 9.0% year-on-year to ₹5,461.35 billion at March 31, 2022. The growth in the deposit franchise was supported by ongoing efforts to strengthen the Bank’s digital platforms and process simplification to provide a seamless banking experience to customers.

Rural and Inclusive Banking

The Bank's product offerings in the rural markets include working capital loans for growing crops, financing of post-harvest activities, farm equipment loans, financing against warehouse receipts and loans against gold jewellery along with personal loans, affordable housing finance and auto and two-wheeler loans. The Bank also provides consumption loans for low-income customers. Financial solutions are offered to micro-finance institutions, self-help groups, co-operatives constituted by farmers and corporations and small and medium enterprises engaged in agriculture-linked businesses. The Bank’s rural portfolio grew by 6.5% year-on-year to ₹768.30 billion at March 31, 2022.

The Bank has identified six main ecosystems in the rural market, which include farmers, dealers, self-employed persons, corporates, institutions and micro-entrepreneurs.

ICICI Bank offers financial solutions to farmers and other customers in the rural ecosystem.

The farmer ecosystem includes participants like farmers, seed producers, agri-input dealers, warehouses, agri-equipment dealers, commodity traders and agri processors. Products offered include working capital loans through the Kisan Credit Card and gold loans, and term loans for farm equipment, dairy livestock purchase and farm development. The dealer ecosystem comprises dealers/distributors of farm equipment, white goods, and pharmaceutical manufacturers. The self-employed ecosystem comprises rural entrepreneurs who are engaged in trading and manufacturing activities based out of commercial and industrial areas in the rural market dealing with both agri & non-agri related products. The rural ecosystem of corporates includes manufacturing and processing units, employees, dealers and suppliers. The institutional segment comprises schools, colleges, hospitals and government offices. The micro-lending space includes women from the lower-income strata of the population, non-government organisations and other institutions working at the grassroot level in the rural economy.

The Bank’s reach in rural areas comprises a network of branches, ATMs, field staff and business correspondents providing last-mile access in remote areas. Of the Bank’s network of 5,418 branches, 51% are in rural and semi-urban areas with 649 branches in villages that were previously unbanked. The Bank has 13,168 Business Correspondents providing last-mile access to 20,540 unbanked locations in remote regions. There were over 3,300 ATMs in the rural and semi-urban areas at March 31, 2022.

Small and Medium Enterprises and Business Banking

The Small and Medium Enterprises (SMEs) portfolio comprises exposures to companies with a turnover of up to ₹2.50 billion. The Bank’s business banking portfolio comprises small business customers with an average loan ticket size of ₹10.0-15.0 million. The business banking portfolio grew by 43.2% to ₹534.37 billion and accounted for 6.2% of the overall portfolio at March 31, 2022. The Small and Medium Enterprises segment grew by 33.6% to ₹404.50 billion and accounted for 4.7% of the overall portfolio. The growth in the portfolio was driven by the Bank’s digital offerings and platforms such as InstaBIZ and Merchant STACK and efforts towards process decongestion such as online electronic franking and digital signature-based document execution (Eazysign).

The Bank’s focus in these businesses is on parameterised and programme-based lending, which is granular and well-collateralised. The SME and business banking customers are offered a wide spectrum of solutions addressing their evolving business needs such as customised offerings, faster turnaround time, transaction convenience and cross-border trade and foreign exchange products. Providing digital solutions is at the core of the engagement, with the range of solutions spanning customer onboarding, payments and collections, lending and cross-border transactions.

Following the Covid-19 pandemic, the Bank provided financial assistance to clients based on various government schemes. Under the Emergency Credit Line Guarantee Scheme, the Bank had disbursed about ₹179 billion to customers till March 31, 2022.

The Bank continued to enhance the data analytics driven onboarding, credit assessment and monitoring of retail and SME customers and creation of propositions for their supply-chain financing needs.

The Bank follows strong risk management practices in managing the SME and business banking portfolio, with a view to enhancing the portfolio quality by reducing concentration risks and a focus towards granular and collateralised-lending based growth. The Bank’s robust portfolio monitoring framework is able to proactively analyse and detect stressed cases which enables early action and ensures healthy portfolio quality. The Bank has further strengthened its underwriting process by integrating various digital tools like bank statement analyser, automatic fetching of bureau reports and enhanced business rule engine to generate probability of default scores for score-based analysis into one single ecosystem called 'Infinity'. A combination of qualitative and quantitative assessment tools are utilised to arrive at the final credit decision.

Wholesale Banking

The Bank’s wholesale banking customers include large private sector business houses and companies, financial institutions and banks, public sector undertakings and central and state government entities. In the last few years, the Bank has developed a strong franchise among Multi-National Corporations (MNCs) and new-age services companies, and also established a strong franchise in the financial sponsors space with special focus on private equity funds and their investee companies.

The Bank’s approach has been to deepen its partnership and support to clients through their life cycle. Our product portfolio and delivery platforms are comprehensive and technologically advanced and include lending products for working capital and capital expenditure requirements and other products that the client may need across trade, treasury, bonds, commercial papers, channel financing, supply chain solutions and various other activities. The domestic corporate loan portfolio grew by 9.7% year-on-year to ₹1,937.34 billion at March 31, 2022 and accounted for 22.5% in the overall portfolio.

With a focus on the Bank’s overall strategy of maximising the risk-calibrated core operating profit, value creation for clients is the main focus. Instead of being only capital providers, the Bank aims to become business partners to its clients. With the client at the centre, all the teams across the Bank are well-aligned to offer the entire Bank’s offerings to wholesale clients and their ecosystems. This has not only made client servicing more effective, but also helped in deepening the Bank’s relations in high-value retail accounts of promoters, directors and employees through a suite of retail products like salary, private and wealth banking, home loans, personal loans, vehicle loans, etc. This approach has also reduced client acquisition cost.

Supply chain financing is an integral part and a focus area towards deepening our coverage of the corporate ecosystem. The supply chain solutions CorpConnect and DigitalLite enable corporates to seamlessly manage supply chain financing, payments, collection and reconciliation requirements of their dealers and vendors in a convenient and paperless process. These solutions also automatically assess the eligibility of the corporate’s dealers and vendors for credit through business rule engine, Goods and Services Tax (GST) returns, intelligent algorithm with automated bureau checks and dedupe checks. The value of transactions through supply chain solutions in fiscal 2022 was 2.7 times the value of transactions in fiscal 2021.

The Bank has extensively leveraged analytics to monitor transactions and portfolio quality. While new credit is extended in a granular manner to well-established and higher-rated business groups, analytics is used for portfolio monitoring and identification of early warning signals in the existing portfolio. This has led to enhancement of the overall quality of the corporate portfolio. The Bank has also focussed on reducing concentration risks to make the portfolio more granular.

International Business

ICICI Bank’s international presence consists of branches in seven overseas locations and representative offices in nine locations outside India. The Bank has Offshore Banking Unit (OBU) in Mumbai and IFSC Banking Unit (IBU) in Gift City, and wholly-owned subsidiaries in the United Kingdom (UK) and Canada. ICICI Bank UK also has a branch in Germany.

The Bank’s international franchise focusses on four strategic pillars, namely the NRI ecosystem comprising deposits, remittances, investments and asset products; the MNC ecosystem comprising both foreign MNCs investing in India and Indian MNCs for their foreign currency and other India related requirements as well as Global In-house Centres (GIC), which are back-offices of MNCs created to serve the world; trade ecosystem, comprising primarily India-linked trade transactions which are self-liquidating in nature; and funds ecosystem, to capture fund flows into India through the Foreign Portfolio Investment (FPI) and Foreign Direct Investment (FDI) route.

The Bank continued to progress in its strategic objective of reducing the non-India linked exposures in a planned manner. The non-India linked corporate portfolio reduced by 48.2% year-on-year or by USD 0.6 billion during fiscal 2022.

Government Banking

The Bank has been providing a range of banking services to Government of India ministries, state government departments and district and local bodies across the country. ICICI Bank offers its government customers a wide spectrum of solutions, including customised products and services for enhancing e-governance and financial management.

The Bank is assisting the government for collection of central taxes, state taxes and GST payments through authorised branches and digital channels. Our integrated banking platforms provide simple online tax payment options to customers. Statutory payments like EPFO and ESIC dues can be done online through the Bank’s platforms.

The Bank has onboarded a number of Central and State Government departments for ensuring quick disbursement of funds/benefits to beneficiaries and implementing agencies through the Public Financial Management System (PFMS) of Government of India. The Bank is also assisting State-level nodal agencies and last-mile implementing agencies for adopting efficient release of Government of India scheme funds in 28 states.