The Bank places strong emphasis on ethics and integrity, and expects all employees to act in accordance with the highest professional and ethical standards upholding the principles of integrity and compliance at all times.

ICICI Bank recognises the importance of establishing effective frameworks and supporting processes that encourage employees to exhibit the desired ethos of the Bank. We aim to create an environment that encourages a culture of innovative thinking, strong compliance and governance, and ensuring ethical conduct while adhering to the principle of 'Fair to Customer, Fair to Bank'.

The Bank is committed to act professionally, fairly and with integrity in all its dealings. The ICICI Group Code of Business Conduct and Ethics provides the values, principles and standards that should drive decisions and actions of the employees of the Bank. The Code is also the Bank’s commitment to its stakeholders of adhering to the highest ethical standards. All new employees are required to complete mandatory training modules pertaining to Code of Conduct, Information Security, Anti-Money Laundering and other compliance-related areas that are critical and sensitive.

The Bank has a zero tolerance approach to bribery and corruption. The Bank has a well-defined Anti-Bribery and Anti-Corruption Policy articulating the obligations of our employees in these matters. The Bank’s third-party vendors are also required to adhere to the Bank’s Anti-Bribery and Anti-Corruption Policy, including providing an annual self-declaration confirming their compliance. Periodic risk assessment of the policy is conducted, at least once in three years.

The Bank continuously focusses on the effectiveness of financial controls and assesses compliance with all regulatory requirements. All the key policies of the Bank are regularly reviewed and enhanced to ensure relevance, adherence to regulations and adoption of best practices on an ongoing basis.

The Board-approved Group Compliance Policy lays down the compliance framework with emphasis on ensuring that products, customer offerings and activities conform to rules and regulations and adheres to the ethos of 'Fair to Customer, Fair to Bank'.

ICICI Bank aims to endorse a strong risk and compliance culture. In line with this philosophy, the Board approved the Risk and Compliance Culture Policy in fiscal 2022. The policy provides the guiding principles and aspects for effective implementation of these principles.

The effective implementation of the policy includes a governance framework with roles and responsibilities of the Board, MD & CEO and Executive Directors and the Risk and Compliance Culture Council. All employees are encouraged to align with the guiding principles while conducting their activities.

The Bank undertakes periodic training sessions and sends information mailers, as part of knowledge-enhancement and awareness, to employees on a frequent basis. The Bank is committed to constantly reviewing its governance practices and frameworks, with a focus on staying updated and responsive to the dynamic and evolving landscape, and acting in the best interest of all stakeholders.

The Bank has identified five guiding principles for risk and compliance culture across the organisation:

  • Fair to Customer, Fair to Bank: Guiding principles of product suitability, transparency in customer dealings, fair pricing
  • One Bank, One Team: Enabling cross-functional collaboration and taking the entire bank to the customer
  • Return of Capital is Paramount: Prioritise conservation of capital, and not compromise for short-term gains
  • Agile Risk Management: Dynamic identification and management of risks and encourage constructive challenge
  • Compliance with Conscience: Conduct business within the boundaries of law and regulations