The Bank’s strategic focus in fiscal 2022 continued to be on growth in core operating KEY HIGHLIGHTS

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
₹1,411,298 CR.
billion. The Bank grew its business with a focus on granularity and saw healthy growth Balance sheet size
across retail, small and medium enterprise and business banking portfolios, and in
current and savings account deposits on a daily average basis

MARKET SHARE ₹47,466 CR.

Net interest income
The bank’s market share in credit card transaction value increased to 20.1% in FY 2022
from 14.6% in FY 2021.
The market leader in FASTTAG with a market share of 33% in FY 2022 from 51% in YOY ₹38,347 CR.
in 2022. Core operating profit
BANK NETWORK
₹23,339 CR.
5,418 1,102 Profit after tax

Branches Insta banking kiosks

19.16%
Total capital adequacy ratio
13,626 2,983
ATM Cash acceptance machines

SENTHIL K 1
MANAGEMENT DISCUSSION
Interest rates
On June 8, 2022, the MPC announced a further 50 basis point increase in
the repo rate to 4.90%. Accordingly, the SDF rate was revised to 4.65% and
the marginal standing facility rate to 5.15%. the CRR was increased by 50
basis points from 4.00% to 4.50%. On august 5, 2022, the MPC announced
a further 50 basis points increase in repo rate to 5.40%.
Financial market
During fiscal 2022, the Rupee depreciated by 3.7% from ` 73.14 per US
dollar at March 31, 2021 to ` 75.87 per US dollar at March 31, 2022.
Following the onset of the Russia-Ukraine war, the Rupee touched ` 77.07
per US dollar at March 8, 2022. The benchmark S&P BSE Sensex increased
by 18.3% during fiscal 2022 compared to 68.0% in fiscal 2021. The yields
on the benchmark 10-year government securities increased from 6.18% at
March 31, 2021 to 6.84% at March 31, 2022. Following the increase in the
repo rate announced by the MPC during May-June 2022, the yield on the
benchmark 10-year government securities increased by 78 basis points to
a high of 7.62% at June 16, 2022. The yields eased to 7.45% at June 30,
2022.
Outlook
In the monetary policy statement in April 2022, the RBI has reduced India’s
GDP growth estimate for fiscal 2023 to 7.2% from the earlier estimate of
7.8%. Further, due to inflationary concerns, RBI has increased the repo rate
by 90 basis points in May-June 2022 and the CRR by 50 basis points.
BANKING SECTOR TRENDS
Non-food credit growth of the banking system improved during fiscal 2022
reflecting the gradual recovery in economic activities during the year. Non-
food credit growth was 8.7% year-on-year at March 25, 2022 compared to
5.5% at March 26, 2021. As per data on sector-wise deployment of credit
as of March 25, 2022 released by RBI, retail loans grew by 12.4%, credit to
industry by 7.1%, credit to the services sector by 8.9% and to the
agriculture sector by 9.9%. Deposit growth was marginally higher
compared to credit growth at the end of fiscal 2022, with growth in total
deposits of 8.9% at March 25, 2022. During the year, Indian banks reduced
the interest rates on term deposits, given the excess systemic liquidity.
Lending rates of banks also continued to be moderate during the year.
However, banks began to increase deposit and lending rates during the first
three months of fiscal 2023, following the monetary policy tightening
during May-June 2022.
According to RBI’s Financial Stability Report of June 2022, non-performing
assets (NPA) of scheduled commercial banks declined during fiscal 2022,
with gross NPA ratio at 5.9% and net NPA ratio at 1.7% at March 31, 2022
compared to a gross NPA ratio of 7.5% and net NPA ratio of 2.4% at March
31, 2021. Restructuring of loans for entities impacted by the second Covid-
19 wave under Resolution Framework 2.0 stood at 1.6% of total advances
as at December 31, 2021. In the Union Budget for fiscal 2023, several
banking sector specific measures were announced including financial
support for the digital payment ecosystem and introduction of the Digital
Rupee by RBI. The government has proposed the setting up of 75 Digital
Banking Units in 75 districts during the year.
SENTHIL K 2
SUBSIDIARIES, ASSOCIATES/JOINT VENTURES.
NAME OF THE ENTITY NAME OF RELATIONSHIP
ICICI bank Canada subsidiary
ICICI bank UK PLC subsidiary
ICICI home finance company ltd. subsidiary
ICICI international ltd. subsidiary
ICICI investment management company ltd. subsidiary
ICICI prudential asset management company subsidiary
ICICI prudential life insurance company subsidiary
ICICI prudential pension fund management company ltd. subsidiary
ICICI prudential trust ltd. subsidiary
ICICI securities holdings inc. subsidiary
ICICI securities inc. subsidiary
ICICI securities primary dealership ltd. subsidiary
ICICI trusteeship services ltd. subsidiary
ICICI venture funds management company ltd. subsidiary
Arteria technologies private Ltd. Associate
India infradebt limited Associate
ICICI Lombard general insurance company Associate
NIIT institute of finance, banking and insurance training ltd. Associate

SENTHIL K 3
FINANCIALS AND VALUATION
INCOME STATEMENT ₹ in ‘000s
PARTICULAR JUNE 2022(Q1) FY 2022 JUNE 2021(Q1) FY 2021 FY 2020 FY 2019 FY 2018
INCOME:
Interest income 261,586,000 954,068,654 226,151,600 891,626,638 848,357,730 719,816,540 621,623,505
YOY CHANGE % 15.6% 7% 0.8% 5.1% 17.8% 15.7% 2%
Other income 130,597,300 621,294,514 127,368,100 720,295,282 649,503,730 593,248,453 568,067,510
TOTAL INCOME 392,183,300 1,575,363,168 353,519,700 1,611,921,920 1,497,861,031 1,313,064,993 1,189,691,015
EXPENDITURE:
Interest expended 110,890,600 411,666,711 100,678,100 426,590,874 446,655,222 391,775,414 342,620,468
YOY CHANGE % 10% -3.1% -11.2% -4.4% 14% 14.3% -1.6%
Operating expenses 170,066,900 731,517,275 158,708,400 762,716,696 715,178,988 642,588,800 557,556,292
Provisions and contingences 11,307,900 174,340,856 29,706,700 220,417,554 223,772,141 221,809,173 198,518,808
TOTAL EXPENDITURE 280,957,500 1,317,524,842 259,386,500 1,409,725,124 1,385,606,351 1,256,173,387 1,098,695,568
NET PROFIT 73,845,300 257,838,326 47,627,700 202,196,796 112,254,680 56,891,606 90,995,447
YOY CHANGE % 55.04% 27.51% 52.7% 80.12% 73.3% -37.31% -19.75%
GROSS NPA 331,631,500 339,200,000 431,482,800 413,730,000 414,090,000 462,920,000 540,630,000
NET NPA 66,561,500 69,610,000 93,058,300 91,800,000 101,040,000 135,770,000 278,860,000
Net customer asset 9,678,619,000 9,160,870,000 8,086,638,100 8,025,900,000 7,166,740,000 6,580,340,000 5,848,780,000
GNPA % 3.41% 3.7 5.15% 5.15 5.77 7.03 9.24
NNPA% 0.7% 0.76% 1.16% 1.14% 1.41% 2.06% 4.77%
Net interest income 150,695,400 542,401,943 12,54,73,500 46,50,35,764 40,17,02,508 32,80,41,126 27,90,03,037
(interest income-interest expended)
YOY CHANGE % 20.1% 16.63% 2% 15.76% 22.45% 17.57% 28.33%

SENTHIL K 4
BALANCE SHEET ₹ in ‘000s

PARTICULAR JUNE 2022(Q1) FY 2022 JUNE 2021(Q1) FY 2021 FY 2020 FY 2019 FY 2018
CAPITAL AND LIABILITIES
Capital 13,914,800 13,899,662 13,852,200 13,834,104 12,947,649 12,894,598 12,858,100
Reserves and surplus 1,879,199,900 1,803,961,070 1,612,502,200 1,562,009,891 1,216,618,065 1,129,592,715 1,093,383,172
NET WORTH 1,89,31,14,700 1,81,78,60,732 1,62,63,54,400 1,57,58,43,995 1,22,95,65,714 1,14,24,87,313 1,10,62,41,272
GROWTH % 16.4% 15.35% 28.92% 28.16% 7.61% 3.27% 5.73%
Total Deposits 10,777,895,500 10,913,657,932 9,549,539,200 9,599,400,180 8,007,844,610 6,813,169,361 5,857,961,125
GROWTH % 12.86% 13.69% 14.55% 19.87% 17.53% 16.3% 14.28%
On which CASA deposit 5,184,370,000 4,316,230,000 3,478,190,000 3,239,400,000 2,899,300,000
GROWTH % 18.1% 20.11% 19.3% 24.09% 7.37% 11.73% 53.98%
Borrowings 1,660,643,700 1,616,026,828 1,368,961,600 1,438,999,393 2,138,517,821 2,103,241,208 2,294,018,266
Other liabilities and provisions 843,808,900 828,083,306 639,375,600 996,164,062 874,149,115 739,401,370 609,567,929
TOTAL LIABILITY 17,427,771,800 17,526,373,837 15,367,310,200 15,738,122,446 13,772,922,323 12,387,938,907 11,242,810,402
ASSETS
Cash and balance with RBI 907,981,500 602,287,069 673,533,200 463,022,049 353,119,341 380,662,784 332,726,026
Investments 5,655,767,800 5,670,977,180 5,300,563,300 5,365,786,165 4,434,726,298 3,982,007,553 3,722,076,772
GROWTH % 6.7% 5.68% 1.97% 20.99% 11.36% 6.98% 22.28%
Advances 9,572,069,700 9,203,081,390 7,984,990,300 7,918,013,918 7,062,461,122 6,469,616,813 5,668,542,198
GROWTH % 19.87% 16.22% 15.28% 12.11% 9.16% 14.13% 10%
Fixed assets 106,549,500 106,054,107 101,647,800 108,092,581 104,086,576 96,604,227 94,650,053
GROWTH % 4.82% -1.88% -2.33% 3.84% 7.74% 2.06% 1.36%
TOTAL ASSET 17,427,771,800 17,526,373,837 15,367,310,200 15,738,122,446 13,772,922,323 12,387,938,907 11,242,810,402

SENTHIL K 5
LOAN PORTFOLIO ₹ in billions
PARTICULAR JUNE 2022(Q1) FY 2022 JUNE 2021(Q1) FY 2021 FY 2020 FY 2019
TOTAL LOAN 8,956.25 8,590.20 7,385.98 7,337.29 6,452.90 5,866.47
Small and medium enterprises (SME) 393.85 404.50 297.78 302.84 228.51 179.17
Corporates 2,022.92 1,923.84 1,768.53 1,766.35 1,604 1,528.66
Rural 769.98 768.30 710 721.58 582.84 511.19
Business banking 573.96 534.37 396.76 373.27 301.83 236.62
International loans 457.63 412.84 400.99 375.90 539.67 630.32
RETAIL 4,779.41 4,546.35 3,841.92 3,797.35 4,080.03 3,528.31
-of which home loan 3,050.76 2,930.63 2,493.87 2,436.54 2,011.34 1,784.11
-personal loan 683.75 628.73 494.70 493.45 458.53 314.63
-automobile loans 424.07 418.84 360.53 376.38 326.25 318.80
-commercial business 260.85 261.67 251.56 265.16 252.01 227.20
-credit cards 280.10 250.62 171.56 173.11 163.42 126.90
TOTAL LOAN MIX 100%
Small and medium enterprises 4.4% 4.7% 4.03% 4.13% 3.54% 3.05%
Corporate 22.4% 22.3% 23.9% 24.07% 24.86% 26.06%
Rural 8.6% 8.9 9.6% 9.83% 9.03% 8.71%
Business banking 6.4% 6.2% 5.3% 5.09% 4.68% 4.03%
Retail 53.1% 52.92% 52.02% 51.75% 63.23% 60.14%
International loans 5.1% 4.8% 5.4% 5.12% 8.36% 10.74%
RETAIL 100%
Home loan 63.8% 64.46% 64.91% 64.16% 49.30% 50.57%
Personal loan 14.7% 13.83% 12.88% 12.99% 11.24% 8.92%
Automobile loan 8.9% 9.21% 9.38% 9.91% 8.00% 9.04%
Commercial business 5.5% 5.76% 6.55% 6.98% 6.18% 6.44%
Credit cards 5.9% 5.51% 4.47% 4.56% 4.01% 3.60%

SENTHIL K 6
KEY RATIOS
PARTICULAR JUNE 2022(Q1) FY 2022 JUNE 2021(Q1) FY 2021 FY 2020 FY 2019 FY 2018
ASSET QUALITY RATIO %
GNPA % 3.41 3.7 5.15 5.15 5.77 7.03 9.24
NNPA % 0.7 0.76 1.16 1.14 1.41 2.06 4.77
PCR % 79.6 79.9 78.2 77.8 75.6 70.6 47.7
Interest spread % 3.6 3.5 3.21 3.24 3.29 2.93 2.71
PROFITABILITY
Yield on advance 8.12 8.27 8.26 8.76 9.45 8.96 8.63
Yield on investment 6.00 5.98 5.60 6.25 7.12 7.08 6.82
Cost of borrowings 5.60 5.37 5.10 5.04 5.68 5.86 5.41
Cost of deposit 3.46 3.53 3.65 4.12 4.96 4.87 4.87
Net interest margin 4.01 3.96 3.89 3.69 3.73 3.42 3.23
Cost-to-income 42.3 40.51 40.4 37.20 43.50 43.56 38.83
BALANCE SHEET RATIOS
Tier-1 CAR 17.25 18.35 18.35 18.06 14.72 15.09 15.92
Total capital adequacy ratio 18.74 19.2 19.1 16.1 16.9 18.4
CASA Ratio 45.8 47.50 43.7 44.96 43.43 47.54 49.50
C/D Ratio 88.81 84.33 83.62 82.48 88.19 94.96 96.77
VALUATION RATIO
EPS 9.93 33.66 6.67 24.01 12.28 5.23 10.56
EPS Growth% 48.87 40.19 38.38 95.52 134.79 -50.47 -31.02
Book value per share 273 245.38 235 213.28 179.99 168.11 163.6
Return on avg. Equity 15.9 14.77 11.9 12.21 7.07 3.16 6.60
Return on avg. asset 1.98 1.84 1.54 1.42 0.81 0.39 0.87

SENTHIL K 7
INDUSTRY PEERS COMPARISION
CAPITAL ADEQUACY RATIO (CAR) PROVISION COVERAGE RATIO (PCR)

HDFC BANK SBI BANK ICICI BANK KOTAK BANK YES BANK
HDFC BANK SBI BANK ICICI BANK KOTAK BANK YES BANK

COST TO INCOME RATIO BASIC EARNINGS PER SHARE (EPS)

HDFC BANK SBI BANK ICICI BANK KOTAK BANK YES BANK HDFC BANK SBI BANK ICICI BANK KOTAK BANK YES BANK

SENTHIL K 8
 KEY CHARTS
NET INTEREST INCOME (in ₹Bn) NET PROFIT (in ₹Bn) TOTAL DEPOSIT (in ₹Bn)

542 80.10% 10,913

73.30% 257 9,600
28.33% 465
401 202 8,007
6,813
328 5,857

YOY GROWTH %
TOTAL DEPOSIT
YOY GROWTH %
279

YOY GROWTH %
112 27.50%

NET PROFIT
22.45% 20%
90

NII
17.57% 56 16% 17%
15.76% 16.63% 14%
-19.70% 14%
-37.30%
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022

CASA DEPOSIT (in ₹Bn) TOTAL ADVANCES (in ₹Bn) EARNINGS PER SHARE (₹)
53.98%
134%
9,203
5,184 95.50% 33.66
7,918
4,318 7,062 40.19%
6,469 24.01

EARNINGS PER SHARE

3,239 3,478 5,668

TOTAL ADVANCES
2,899 16.22%

YOY GROWTH %
-31.02%
YOY GROWTH %

YOY GROWTH %
CASA DEPOSIT

-50.47%
14.13% 12.28
12.11% 10.56
24.09% 20.11% 10%
9.16% 5.23
11.73%
7.37%

2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022

SENTHIL K 9
GNPA% & NNPA% DECLINING TREND LOAN PORTFOLIO ON JUNE 30, 2022 INTERNATIONAL LOAN DECLINING

4.77% 4.40%
10.74%
22.40%
2.06% 53.10% 8.36%
1.41%
1.14% 8.60% 5.12% 5.40% 4.80% 5.10%
9.24%
0.76%
7.03% 6.40%
5.77% 5.15% 5.10%
3.70%
SME corporate
2018 2019 2020 2021 2022 rural business banking 2019 2020 2021 Q1 2022 2022 Q1 2023

GNPA% NNPA% internation loan retain INTERNATIONAL LOAN

ROAE & ROAA INCREASING TREND RETAIL PORTFOLIO ON JUNE 30, 2022 RETAIL LOAN TREND

1.84% 63.23%
5.50% 5.90% 60.14%
1.42% 8.90% 51.75% 52.02% 52.92% 53.10%
14.77% 63.80%
0.87% 0.81% 12.21% 14.70%
0.39%
6.60% 7.07%

3.16% home loan personal loan

2018 2019 2020 2021 2022 2019 2020 2021 Q1 2022 2022 Q1 2023
automobile loan commercial loan
ROAE ROAA credit card RETAIL LOAN

SENTHIL K 10
SHAREHOLDING PATTERN
Shareholding pattern at march 31, 2022

SHAREHOLDING CATEGORY HOLDING %

Deutsche bank trust company 18.98
FII/ FPI’S 35.61
INSURANCE COMAPANIES 10.36
CORPORATE BODIES 1.49
Bank and financial institute 0.06
mutual funds/ UTI 23.37
Individuals, HUF and trusts 7.00
NBFC’S 0.21
Pension funds 1.85
Alternative investment funds 0.48
IEPF 0.11
Others 0.48
TOTAL 100

SENTHIL K 11
SUBSIDIARIES P&L A/C & TOTAL ASSET
₹ in billions

PROFIT AFTER TAX TOTAL ASSETS

COMPANY FY 2021 FY2022 AT 2021 2022

ICICI prudential asset management company

11.79 14.36 18.52 21.48
ICICI securities ltd.
10.94 13.98 80.58 135.20
ICICI Lombard general insurance ltd.
14.73 12.71 392.59 508.48
ICICI prudential life insurance company
9.60 7.54 2,170 2,441.54
ICICI securities primary dealership ltd.
6.47 3.30 193.32 202.30
ICICI bank Canada
1.13 1.74 346.59 348.35
ICICI home finance company ltd.
0.81 0.93 153.99 157.58
ICICI bank UK PLC
1.10 0.81 217.51 170.77
ICICI venture funds management company
0.04 0 2.91 2.84

SENTHIL K 12