E00b1-Financial Statement Analysis-Icici

PROJECT REPORT
FINANCIAL STATEMENT ANALYSIS

AT
-ICICI, HYDERABAD
MASTER OF BUSINESS ADMINISTRATION
Submitted by
(Student Name)
HT NO: 21WJ1E****
Under the Guidance of
Mr. K. SANDEEP REDDY
ASSISTANT PROFESSOR
School of Management studies

GURUNANAK INSTITUTIONS TECHNICAL CAMPUS
(Autonomous)
PAGE
CHAPTER CONTENTS
NO.
INTRODUCTION
 Objectives of the study
CHAPTER - I  Need for the study

 Scope of the study
 Research Methodology
CHAPTER - II REVIEW OF LITERATURE
CHAPTER -
COMPANY PROFILE
III
CHAPTER -
THEORETICAL FRAMEWORK
IV
DATA ANALYSIS &
CHAPTER - V
INTERPRETATION
 Findings
CHAPTER -
 Suggestion
VI
 Conclusion
Annexure / Questionnaire
INDEX
Abstract
Banking Sector has been one of the most promising and profit driven financial sector for over a
decade in India. Growth of the banking system and its reach was also responsible for the overall
economic growth in the country. With the ever increasing number of customers getting attached
with public sector banks through various schemes and policies, the industry has transformed
completely. This study tries to explore the analysis of financial statement of Indian Bank. The
goal of financial statement is to determine financial strengths and weaknesses of the bank by
comparing the following with previous years with the help of balance sheet, profit and loss
account. The objectives used in this study is to study the short term and long term solvency of
the bank, profitability of the bank and to offer valuable suggestions of the financial position of
the bank. Tools used in this research are ratio analysis, comparative balance sheet and common
size balance sheet.
KEYWORDS: Bank, Financial statement, Profitability, Performance

CHAOPTER - I
INTRODUCTION
Financial Statements are prepared primarily for decision-making. They play a dominant role in
setting the framework of managerial decisions. But the information in the financial statement is
not an end in itself as no meaningful can be drawn from these statements alone.
The information provided in the financial statement is of immense use in making decisions
through analysis and interpretation of financial statements. The financial analysis is the process
of identifying the financial strength and weakness of the firm by properly establishing
relationship between the items of the balance sheet and P&L A/C.
There are various methods or techniques used in analyzing financial statement such as
comparative statement, trend analysis, common size statement, schedule of changes in working
capital, fund flow and cash flow analysis, cost volume profit analysis and “RATIO
ANALYSIS”.
Ratio analysis is one of the most powerful tools of financial analysis. It is a process of
establishing and interpreting various ratios that the financial statements can be analyzed more
clearly and decisions made from such analysis.
Just like a DOCTOR examines his patient by recording his body temperature, blood pressure etc.
before making his conclusion regarding the illness and before giving his treatment, a financial
analyst analysis the financial statement with various tools of analysis before commenting upon
the financial health or weaknesses of an enterprise.
A financial ratio is the relationship between two accounting figures expressed mathematically
ratio provide clues to the financial position of the concern. These are the pointers and indicators
of financial strength, soundness, position or weakness of an enterprise. One can draw
conclusions about the exact financial position of a concern with the help of ratios.
Banking sector, the world over, is known for the adoption of multidimensional strategies from
time to time with varying degrees of success. Banks are very important for the smooth
functioning of financial markets as they serve as repositories of vital financial information and
can potentially alleviate the problems created by information asymmetries. In any organization,
the two important financial statements are the Balance sheet & Profit and loss account of the
business. Balance sheet is a statement of the financial position of an enterprise at a particular
point of time. Profit and loss account shows the net profit or net loss of a company for a specified
period of time. When these statements of the last few year of any organization are studied and
analyzed, significant conclusions may be arrived regarding the changes in the financial position,
the important policies followed and trends in profit and loss etc. Analysis and interpretation of
the financial statement has now become an important technique of credit appraisal. The
investors, financial experts, management executives and the bankers all analyze these statements.
Though the basic technique of appraisal remains the same in all the cases but the
approach and the emphasis in analysis vary. A banker interprets the financial statement so as to
evaluate the financial soundness, stability, the liquidity position and the profitability or the
earning capacity of borrowing concern. Analysis of financial statement is necessary because it
help in depicting the financial position on the basis of past and current records. Analysis of
financial statement helps in making the future decision and strategies.
Therefore, it is very necessary for every organization whether it is a financial
company or manufacturing company to make financial statement and to analysis it. After duly
recognizing the importance of financial statement analysis, this topic has been chosen as the
focus of project. It analyses the financial statement of Indian Bank from 2008 to 2012.
FINANCIAL STATEMENTS ANALYSIS:

After preparation of the financial statements(Balance Sheet and Trading
and Profit and Loss Account), one may be interested in analyzing the financial statements with
the help of different tools such as comparative statement, common size statement, ratio analysis,
trend analysis, etc. In this process a meaningful relationship is established between two or more
accounting figures for comparison.
Objectives:
 To explain the meaning, need and purpose of financial statement analysis;
 To identify the parties interested in analysis of financial statements;
 To explain the various techniques and tools of analysis of financial statements.
Financial Statement Analysis (Meaning and Purpose):

We know business is mainly concerned with the financial activities. In
order to ascertain the financial status of the business every enterprise prepares certain statements,
known as financial statements. Financial statements are mainly prepared for decision making
purposes. But the information as is provided in the financial statements is not adequately helpful
in drawing a meaningful conclusion. Thus, an effective analysis and interpretation of financial
statements is required.
Analysis means establishing a meaningful relationship between various items
of the two financial statements with each other in such a way that a conclusion is drawn. By
financial statements we mean two statements:
1. Profit and loss Account or Income Statement
2. Balance Sheet or Position Statement
These are prepared at the end of a given period of time. They are the indicators
of profitability and financial soundness of the business concern. The term financial analysis is
also known as analysis and interpretation of financial statements. It determines financial strength
and weakness of the firm. Analysis of financial statements is an attempt to assess the efficiency
and performance of the enterprise. Thus, the analysis and interpretation of financial statements is
very essential to measure the efficiency, profitability, financial soundness and future prospects of
the business units. Financial analysis serves the following purposes:
 Measuring the profitability

 Indicating the trend of achievement
 Assessing the growth potential of the business
 Comparative position in relation to other firms
 Assess overall financial strength
 Assess solvency of the firm
Techniques and Tools of Financial Statement Analysis:

Financial statements give complete information about assets, liabilities,
equity, reserves, expenses and profit and loss of an enterprise. They are not readily
understandable to interested parties like creditors, shareholders, investors etc. Thus, various
techniques are employed for analyzing and interpreting the financial statements. Techniques of
analysis of financial statements are mainly classified into three categories:
(I) Cross-sectional analysis
It is also known as inter firm comparison. This analysis helps in analyzing
financial characteristics of another similar enterprise in that accounting period.
(II) Time series analysis
It is also called as intra-firm comparison. According to this method, the
relationship between different items of financial statement is established, comparisons are
made and results obtained. The basis of comparison may be:
 Comparison of the financial statements of different years of the same business
unit.
 Comparison of financial statement of a particular year of different business units.
(III) Cross-sectional cum time series analysis
This analysis is intended to compare the financial characteristics of two or more
enterprises for a defined accounting period. It is possible to extend such a comparison over
the year. This approach is most effective in analyzing of financial statements.
The analysis and interpretation of financial statements is used to determine the financial position.
A number of tools or methods or devices are used to study the relationship between financial
statements. However, the following are the important tools which are commonly used for
analyzing and interpreting financial statements: Ratio analysis, Comparative financial
statements, Common size statements, Trend analysis.
OBJECTIVES OF THE STUDY
The main objectives of this study are the following:-

 To study about ICICI Bank and its related aspects like its products & services,
history, organizational structure, subsidiary companies etc.
 To analyze the financial statement i.e. Profit & Loss account and Balance sheet of
ICICI Bank.
 To learn about Profit & Loss Account, Balance-sheet and different type of
Assets& Liabilities.
 To portray the financial position of ICICI Bank with the help of balance sheet and
profit and loss account.
 To evaluate the financial soundness, stability and liquidity of ICICI Bank.
NEED FOR THE STUDY
The analysis of financial Analysis of ICICI Bank is an attempt to assess the efficiency and
performance of the company.
To assess the efficiency and performance of the company it is necessary
1. To know earnings capacity of the company i.e., the profitability of the company.
2. To have a view of the company’s efficiency.
3. To know the comparative position in relation to previous year.
4. To have an idea about financial strength of the company.
5. To know the solvency of the company.
SCOPE OF THE STUDY
 Financial statement analysis (or financial l analysis) is the process of reviewing and
analyzing a company's financial statements to make better economic decisions.
 These statements include the income statement, balance sheet, statement of cash flows,
and a statement of retained earnings
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problems. It is

necessary to know not only the research methods/ techniques but also the methodology. Research
methodology is a scientific study of various steps that are adopted in research problem.
Research:
Research can be defined as the search for knowledge, or as any systematic
investigation, with an open mind, to establish novel facts, usually using a scientific method. The
primary purpose for applied research is discovering, interpreting, and the development of
methods and systems for the advancement of human knowledge on a wide variety of scientific
matters of our world and the universe.
Research Design:
A design is used to structure the research, to show how all of the major parts of the
research project. Research design can be thought of as the structure of research- it is the “glue”
that holds all of the elements in a research project together. We often describe a design using a
concise notation that enables us to summarize a complex design structure efficiently.
Research Type:
Descriptive Research
Descriptive research is used to obtain information concerning the current status of the
phenomena to describe “what exists” with respect to variables or conditions in a situation.
Descriptive research, also known as statistical research, describes data and characteristics about
the population or phenomena being studied. Descriptive research answers the questions who,
what, where, when and how. In short descriptive research deals with everything that can be
counted and studied. The methodology involved in this design is mostly qualitative in nature
producing descriptive data.
Period of Study:
The study is related to the period from 2018-2023.
Types of Data:
While deciding about the method of data collection to be used for the study, the
researcher kept in mind for two types of data. They are:
a) Primary Data
b) Secondary Data
a) Primary data
In this study primary data is not required.
b) Secondary data
The secondary data are those financial Analyses which are collected from the company.
Research Instrument:
In this study the research, the researcher has used secondary data i.e., Annual
Report if ICICI Bank as research instrument.
Research Presentation:
After analysis of data, using various statistical techniques the findings and suggestions
are presented in the form of a report. To assist the understanding on findings and suggestion of
the study, various other details ranging from objective, need and research methodology to the
detailed presentation analysis is included in the report.
LIMITATION OF THE STUDY
However, the study is also hedged with some limitations. This study is based on
the secondary data. Naturally, the study would have the weakness of this type of data.
 Financial statement analysis tools have some inherent limitations of financial statements.
This study has also suffered from those limitations.
 The nature of financial Analysis is historical. Here, analysis and interpretation are made
on those historical data, which tells only about the past performance and the financial
weakness of the bank.
 Change in accounting procedure by a firm often makes ratio analysis misleading.
 The analysis and interpretation are based on secondary data contained in the published
annual reports of ICICI Bank for the study period.
 The study of financial performance can be only a means to know about the financial
condition of the company and cannot show a through picture of the activities of the
company.
 Further, the conclusions drawn from the study are applicable only to the ICICI Bank and
not for other banks.
CHAPTER -II
REVIEW OF LITERATURE
Zerayehu et al., (2013) also argued that survival in today’s competitive environment totally
depends on performance and growth. Competition has implications for efficiency, innovation,
pricing, availability of choice, consumer welfare, and the allocation of resources in the economy.
Hr Machirajn international publishers (2018):

Efficiency can be considered from technical, economical or empirical considerations. Technical
efficiency implies increase in output. In the case of banks defining inputs and output is difficult
and hence certain ratios of costs to 8 assets or operating revenues are used to measure banks
efficiency. In the Indian context public sector banks accounts for a major portion of banking
assets, it is necessary to evaluate the financial decisions of these banks and compare them with
private sector banks to know the quality of financial decisions on its impact or performance of
banks in terms of efficiency, profitability, competitiveness and other economic variables.
DR.S. Gurusamy (2018):

One of the key elements of importance for shaping the financial system of a country is the
pension fund. The fund contributes to the development of social security systems of a country is
the pension fund. The fund contributes to the development of social security system of a country.
A fund is established by private employers, governments, or unions for the payment of
retirement benefits. Pension funds are designed to provide for poverty relief, consumption
smoothing etc. Pension funds not only provide compensation for the loyal service rendered in the
past, but in a broader significance.
8. Dangwal and Kapoor (2019)

Also undertook the study on financial performance of nationalized banks in India and assessed
the growth index value of various parameters through overall profitability indices. They found
that out of 19 banks, four banks had excellent performance, five banks had good performance
and six banks had poor performance. Thus the performance of nationalized banks differ widely
Rachchh Minaxi (2012):
Execution he has pointed and guided that the fiscal report examination incorporates breaking
down the budget summaries to remove information that can help basic leadership". Pg. no.3-
88.This investigation depicts the way toward assessing the connection between area parts of the
budget reports to get a comprehension of an element's position and execution.
Pratheepkanth (2019):
Impact among capital structure and organization's execution or position". Worldwide Journal of
Financial Studies 6.1: 13.The examination dependent on optional information was found from
the budget report printed by business. He utilized different factual instruments like proportion,
connection, relapse examination ANOVA. He decided his examination that the business
organizations for the most part rely upon the obligation capital. In this way, they need to pay
more intrigue costs.
Jighyasu Gaur (2019)

Influence has a negative connection with capital structure" Journal of Operational Research,
244(2), 540-554. The investigation underpins the hypothesis that the influence of a firm
negatively affects execution. The other variable, which is working capital proportion, is again an
imperative measure since it is the liquidity by which the firm deals with its operational
viewpoint. Firms dependably endeavor to diminish the process duration of borrowers and stock
in order to pick up however much as could reasonably be expected.
Manish Mittal and Arunna Dhademade (2019)

They found that higher profitability is the only major parameter for evaluating banking sector
performance from the shareholders point of view. It is for the banks to strike a balance between
commercial and social objectives. They found that public sector banks are less profitable than
private sector banks. Foreign banks top the list in terms of net profitability. Private sector banks
earn higher non-interest income than public sector banks, because these banks offer more and
more fee based services to business houses or corporate sector. Thus there is urgent need for
public sector banks to provide such services to stand in competition with private sector banks
M. Pandey (2019):
An efficient allocation of capital is the most important financial function in modern times. It
involves decision to commit the firm's funds to the long term assets. The firm’s value will
increase if investments are profitable and add to the shareholders wealth. Financial decisions are
important to influence the firm’s growth and to involve commitment of large amount of funds.
The types of investment decisions are expansion of existing business, expansion of new business
and replacement and modernization. The capital budgeting decisions of a firm has to decide the
way in which the capital project will be financed. The financing or capital structure decision. The
assets of a company can be financed either by increasing the owners claims on the creditors’
claims. The various means of financing represent the financial structure of an enterprise.
Medhat Tarawneh (2018)

Financial performance is a dependent variable and measured by Return on Assets (ROA) and the
intent income size. The independent variables are the size of banks as measured by total assets of
banks, assets management measured by asset utilization ratio 7 (Operating income divided by
total assets) operational efficiency measured by the operating efficiency ratio (total operating
expenses divided by net income)
Vasant desai (2018):

The Reserve Bank of India plays a very vital role. It is known as the banker’s bank. The Reserve
Bank of India is the head of all banks. All the money formulations of commercial banks are done
under the Reserve Bank of India. The RBI performs all the typical functions of a good central
bank as it is involved in planning the economy of the country. The main function is that the RBI
should control their credit. It is mandatory for the Bank to maintain the external value of the
rupee. Major function is that it should also control the currency.
K. C. Sharma (2018)
Banking has entered the electronic era. This has been due to reforms introduced under the WTO
compliances. Private sector banks have been permitted to open their shops in the country. These
banks are either foreign or domestic banks with foreign partnerships. Some of them have been
set up by Development Financial Institutions in order to embrace concept of universal banking,
as practiced in advanced countries. The private sector on the other hand have began their high
tech operations from the initial stage and made the elite of the country to taste the best banking
practices that happens in the western countries. They have foreseen the digital world and have
seen the emerging electronic market, which has encouraged them to have a better customer
service strategy that would be able to deliver the things as per customer’s requirement.
Hr Machirajn international publishers (2018):

Efficiency can be considered from technical, economical or empirical considerations. Technical
efficiency implies increase in output. In the case of banks defining inputs and output is difficult
and hence certain ratios of costs to 8 assets or operating revenues are used to measure banks
efficiency. In the Indian context public sector banks accounts for a major portion of banking
assets, it is necessary to evaluate the financial decisions of these banks and compare them with
private sector banks to know the quality of financial decisions on its impact or performance of
banks in terms of efficiency, profitability, competitiveness and other economic variables.
DR.S. Gurusamy (2018):

One of the key elements of importance for shaping the financial system of a country is the
pension fund. The fund contributes to the development of social security systems of a country is
the pension fund. The fund contributes to the development of social security system of a country.
A fund is established by private employers, governments, or unions for the payment of
retirement benefits. Pension funds are designed to provide for poverty relief, consumption
smoothing etc. Pension funds not only provide compensation for the loyal service rendered in the
past, but in a broader significance.
Dangwal and Kapoor (2019)

Also undertook the study on financial performance of nationalized banks in India and assessed
the growth index value of various parameters through overall profitability indices. They found
that out of 19 banks, four banks had excellent performance, five banks had good performance
and six banks had poor performance. Thus the performance of nationalized banks differ widely
CHAPTER – III
INDUSTRY PROFIE
COMPANY PROFILE
INDUSTRY PROFILE
Introduction
As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalised and
well-regulated. The financial and economic conditions in the country are far superior to any
other country in the world. Credit, market and liquidity risk studies suggest that Indian banks are
generally resilient and have withstood the global downturn well.
Indian banking industry has recently witnessed the roll out of innovative banking models like
payments and small finance banks. RBI’s new measures may go a long way in helping the
restructuring of the domestic banking industry.
The digital payments system in India has evolved the most among 25 countries with India’s
Immediate Payment Service (IMPS) being the only system at level five in the Faster Payments
Innovation Index (FPII). *
Market Size
The Indian banking system consists of 12 public sector banks, 22 private sector banks, 46 foreign
banks, 56 regional rural banks, 1485 urban cooperative banks and 96,000 rural cooperative banks
in addition to cooperative credit institutions. As of September 2020, the total number of ATMs in
India increased to 210,049 and is further expected to increase to 407,000 by 2021.
Asset of public sector banks stood at Rs. 107.83 lakh crore (US$ 1.52 trillion) in FY20.
During FY16-FY20, bank credit grew at a CAGR of 3.57%. As of FY20, total credit extended
surged to US$ 1,698.97 billion.
During FY16-FY20, deposits grew at a CAGR of 13.93% and reached US$ 1.93 trillion by
FY20. Credit to non-food industries stood at Rs. 103.46 trillion (US$ 1.40 trillion) as of
November 20, 2020.
Investments/Developments
Key investments and developments in India’s banking industry include:
o On November 6, 2020, WhatsApp started UPI payments service in India on receiving the
National Payments Corporation of India (NPCI) approval to ‘Go Live’ on UPI in a graded
manner.
o In October 2020, HDFC Bank and Apollo Hospitals partnered to launch the ‘HealthyLife
Programme’, a holistic healthcare solution that makes healthy living accessible and
affordable on Apollo’s digital platform.
o In 2019, banking and financial services witnessed 32 M&A (merger and acquisition)
activities worth US$ 1.72 billion.
o In March 2020, State Bank of India (SBI), India’s largest lender, raised US$ 100 million in
green bonds through private placement.
o In February 2020, the Cabinet Committee on Economic Affairs gave its approval for
continuation of the process of recapitalization of Regional Rural Banks (RRBs) by providing
minimum regulatory capital to RRBs for another year beyond 2019-20 - till 2020-21 to those
RRBs which are unable to maintain minimum Capital to Risk weighted Assets Ratio (CRAR)
of 9% as per the regulatory norms prescribed by RBI.
o In October 2019, Department of Post launched the mobile banking facility for all post office
savings account holders of CBS (core banking solutions) post office.
o Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) stood at Rs. 1.06 lakh crore (US$
15.17 billion.
o In October 2019, Government e-Marketplace (GeM) signed a memorandum of understanding
(MoU) with Union Bank of India to facilitate a cashless, paperless and transparent payment
system for an array of services.
o In August 2019, the Government announced major mergers of public sector banks, which
included United Bank of India and Oriental Bank of Commerce to be merged with Punjab
National Bank, Allahabad Bank to be amalgamated with Indian Bank and Andhra Bank and
Corporation Bank to be consolidated with Union Bank of India.
o The NPAs (Non-Performing Assets) of commercial banks recorded a recovery of Rs.
400,000 crore (US$ 57.23 billion) in the last four years including record recovery of Rs.
156,746 crore (US$ 22.42 billion) in FY19.
o Allahabad Bank’s board approved the merger with Indian bank for the consolidation of 10
state-run banks into the large-scale lenders.
o The total equity funding of microfinance sector grew at 42 y-o-y to Rs. 14,206 crore (US$
2.03 billion) in 2018-19.
 Government Initiatives
o As per Union Budget 2019-20, the Government proposed fully automated GST refund
module and an electronic invoice system that will eliminate the need for a separate e-way
bill.
o Under the Budget 2019-20, Government proposed Rs. 70,000 crore (US$ 10.2 billion) to the
public sector banks.
o Government smoothly carried out consolidation, reducing the number of Public Sector Banks
by eight.
o As of September 2018, the Government of India made Pradhan Mantri Jan Dhan Yojana
(PMJDY) scheme an open-ended scheme and added more incentives.
o The Government of India planned to inject Rs. 42,000 crore (US$ 5.99 billion) in public
sector banks by March.
 Achievements
 Following are the achievements of the Government:
o In November 2020, Unified Payments Interface (UPI) recorded 2.21 billion transactions
worth Rs. 3.90 lakh crore (US$ 53.06 billion).
o According to the RBI, India’s foreign exchange reserve reached US$ 574.82 billion as of
November 27, 2020.
o To improve infrastructure in villages, 204,000 point of sale (PoS) terminals have been
sanctioned from the Financial Inclusion Fund by National Bank for Agriculture & Rural
Development (NABARD).
Road Ahead
Enhanced spending on infrastructure, speedy implementation of projects and continuation of
reforms are expected to provide further impetus to growth in the banking sector. All these factors
suggest that India’s banking sector is poised for a robust growth as rapidly growing businesses
will turn to banks for their credit needs.
Also, the advancement in technology has brought mobile and internet banking services to the
fore. The banking sector is laying greater emphasis on providing improved services to their
clients and upgrading their technology infrastructure to enhance customer’s overall experience as
well as give banks a competitive edge.
India’s digital lending stood at US$ 75 billion in FY18 and is estimated to reach US$ 1 trillion
by FY23 driven by the five-fold increase in the digital disbursements.
The Indian banking system consists of 12 public sector banks, 22 private sector banks, 44 foreign
banks, 56 regional rural banks, 1,485 urban cooperative banks and 96,000 rural cooperative
banks in addition to cooperative credit institutions. As of August 2020, total number of ATMs in
India increased to 209,110 and is expected to reach 407,000 by 2021.
According to Reserve Bank of India (RBI), India’s foreign exchange reserve reached US$
560.53 billion as on October 23, 2020. According to the Reserve Bank of India (RBI), bank
credit and deposits stood at Rs. 103.43 lakh crore (US$ 1.39 trillion) and Rs. 143.02 lakh crore
(US$ 1.92 trillion), respectively, in the fortnight ending October 9, 2020.
Credit to non-food industries stood at Rs. 102.80 lakh crore (US$ 1.38 trillion) as of October 9,
2020.
Asset of public sector banks stood at Rs. 107.83 lakh crore (US$ 1.52 trillion) in FY20.
Total assets across the banking sector (including public, private sector and foreign banks)
increased to US$ 2.52 trillion in FY20.
Indian banks are increasingly focusing on adopting integrated approach to risk management. The
NPAs (Non-Performing Assets) of commercial banks has recorded a recovery of Rs. 400,000
crore (US$ 57.23 billion) in FY19, which is highest in the last four years.
As per Union Budget 2019-20, investment-driven growth required access to low cost capital, and
this would require investment of Rs. 20 lakh crore (US$ 286.16 billion) every year.
RBI has decided to set up Public Credit Registry (PCR), an extensive database of credit
information, accessible to all stakeholders. The Insolvency and Bankruptcy Code (Amendment)
Ordinance, 2019 Bill has been passed and is expected to strengthen the banking sector. Total
equity funding of microfinance sector grew 42% y-o-y to Rs. 14,206 crore (US$ 2.03 billion) in
2018-19.
Bank accounts opened under the Government’s flagship financial inclusion drive Pradhan Mantri
Jan Dhan Yojana (PMJDY) reached 40.05 crore and deposits in Jan Dhan bank accounts stood at
more than Rs. 1.30 lakh crore (US$ 18.44 billion).
Rising income is expected to enhance the need for banking services in rural areas, and therefore,
drive the growth of the sector.
The digital payments revolution will trigger massive changes in the way credit is disbursed in
India. Debit cards have radically replaced credit cards as the preferred payment mode in India
after demonetisation. Payments on Unified Payments Interface (UPI) hit an all-time high of 1.49
billion in terms of volume with transactions worth nearly Rs. 2.90 lakh crore (US$ 41.22 billion)
in July 2020.
COMPANY PROFILE
ICICI Bank is a leading private sector bank in India. The Bank’s consolidated total assets stood
at Rs. 14.76 trillion at September 30, 2020. ICICI Bank currently has a network of 5,418
branches and 13,383 ATMs across India.
HISTORY
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and
representatives of Indian industry. The principal objective was to create a development financial
institution for providing medium-term and long-term project financing to Indian businesses.
Until the late 1980s, ICICI primarily focused its activities on project finance, providing long-
term funds to a variety of industrial projects. With the liberalization of the financial sector in
India in the 1990s, ICICI transformed its business from a development financial institution
offering only project finance to a diversified financial services provider that, along with its
subsidiaries and other group companies, offered a wide variety of products and services. As
India’s economy became more market-oriented and integrated with the world economy, ICICI
capitalized on the new opportunities to provide a wider range of financial products and services
to a broader spectrum of clients. ICICI Bank was incorporated in 1994 as a part of the ICICI
group. In 1999, ICICI became the first Indian company and the first bank or financial institution
from non-Japan Asia to be listed on the New York Stock Exchange.
The issue of universal banking, which in the Indian context meant conversion of long-term
lending institutions such as ICICI into commercial banks, had been discussed at length in the late
1990s. Conversion into a bank offered ICICI the ability to accept low-cost demand deposits and
offer a wider range of products and services, and greater opportunities for earning non-fund
based income in the form of banking fees and commissions. After consideration of various
corporate structuring alternatives in the context of the emerging competitive scenario in the
Indian banking industry, and the move towards universal banking, the managements of ICICI
and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal
strategic alternative for both entities, and would create the optimal legal structure for ICICI
group's universal banking strategy. The merger would enhance value for ICICI shareholders
through the merged entity's access to low-cost deposits, greater opportunities for earning fee-
based income and the ability to participate in the payments system and provide transaction-
banking services. The merger would enhance value for ICICI Bank shareholders through a large
capital base and scale of operations, seamless access to ICICI's strong corporate relationships
built up over five decades, entry into new business segments, higher market share in various
business segments, particularly fee-based services, and access to the vast talent pool of ICICI and
its subsidiaries.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI
and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services
Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by
shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at
Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve
Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking
operations, both wholesale and retail, were integrated in a single entity.
ICICI GROUP COMPANIES

ICICI Group
ICICI Prudential Life Insurance Company
ICICI Lombard General Insurance Company
ICICI Prudential AMC & Trust
ICICI Venture
ICICI Direct
ICICI Foundation
Disha Financial Counselling
ICICI Home Finance Company Limited
ICICI International Limited
Fund Management Office
FSC Regulated CIS Manager
Unit No. 404, 4th Floor, Ebene Esplanade, 28 Cybercity
Ebene, Mauritius
Email: investordesk@iciciinternational.com
BOARD OF DIRECTORS
Board Members
Mr. Girish Chandra Chaturvedi
Non-Executive (part-time) Chairman
Mr. Hari L. Mundra

Independent Director
Mr. S. Madhavan
Mr. Sandeep Bakhshi,

Managing Director & CEO
Ms. Neelam Dhawan

Mr. Anup Bagchi,

Executive Director
Mr. Radhakrishnan Nair

Mr. Sandeep Batra,

Executive Director
Mr. B. Sriram
Mr. Uday Chitale

Ms. Vibha Paul Rishi

Terms and conditions of appointment of Independent Directors

Familiarisation Programme for Independent Directors
Contact details of Key Managerial Personnel as required under Regulation 30 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2018
Executive Director's Profiles
Sandeep Bakhshi Anup Bagchi Sandeep Batra
Managing Director & Executive Director Executive Director

CEO
AWARDS - 2021
ICICI Bank has been awarded the IBS Intelligence (IBSi) Global FinTech Innovation Awards,
2021. These awards are organised by London-based IBS intelligence, a premier research,
advisory and news analysis firm. The Bank has been declared joint winner, along with Infosys
Finacle for its combined initiative in the 'Most Innovative use of Blockchain in the Banking'
category.
ICICI Bank has won multiple awards at DigiDhan awards programme, organised by the Ministry
of Electronics and Information Technology (MeitY), Government of India. The Bank has
emerged a winner at DigiDhan Awards for FY 2019-20, for achieving the top position in overall
performance in digital payments. We have won DigiDhan Awards for FY 2020-21 for two
accomplishments - one, for onboarding maximum billers on the Bharat Bill Payment System
(BBPS) platform; two, for achieving the highest volume of digital payment transactions among
private sector banks.
ICICI Bank has emerged as the winner among large banks in three categories at the 3rd edition
of the ET BFSI Excellence Awards. These awards were organised by The Economic Times, a
part of the Times Group. The Bank was declared a winner in the following categories: ‘Best
Covid Strategy Implemented - Customer Experience’, ‘Innovative Analytics Implementation
initiative of the year’ and ‘Innovative Payment Initiative of the Year’.
ICICI Bank has been awarded in six categories at the Infosys Finacle Innovation Awards, 2021.
The Bank was declared winner in the following categories: ‘Corporate Banking Digitisation’,
‘Covid Response Innovation’, ‘Customer Journey Reimagination’, ‘Modern Technologies-led
Innovation’, ‘Process Innovation’ and ‘Product Innovation’.
ICICI Bank has been declared as the winner in two categories - 'Best Co-Branded Credit Card of
the Year' and 'Best Credit Card of the Year' - at the 9th edition of the Payments & Cards Awards
organised by Kamikaze Media.
ICICI Bank has emerged as the best employer in India in the BFSI sector, in the Forbes list of the
“World’s Best Employers” for 2021. Further, the Bank is ranked among the top three BFSI
companies globally, according to the list.
ICICI Bank has been adjudged the ‘Strongest Bank in India in 2021’ by The Asian Banker.
ICICI Bank has bagged two awards at the recently concluded ‘Retail Banker International Asia
Trailblazer Awards 2021’. The Bank was awarded in two categories – ‘Best Retail Bank India’
and ‘Best Mortgage Offering’. The awards are organised by Retail Banker International, a
finance publication headquartered in the United Kingdom.
ICICI Bank has also been declared a winner in two categories - 'Best in Future of Intelligence'
and 'Best in Future of Trust' at the ‘2021 IDC Future Enterprise Awards India’. The US-based
entity, International Data Corporation (IDC), a premier advisory service provider to the
information technology, telecommunications, and consumer technology markets, organises these
awards to recognise companies that have made critical breakthroughs in business
transformations.
ICICI Bank’s in-house legal team was adjudged the winner in the ‘Banking and Financial
Services In-House Team of the Year’ category at the ‘2021 ALB India Law Awards’. The
awards are organised by Asian Law Business and Thomson Reuters.
ICICI Bank has emerged as the winner in six categories, at the Asian Banking & Finance
Awards, 2021. The Bank has won awards for its Retail Banking initiatives in two categories -
'COVID Management Initiative of the Year - India' and 'Domestic Retail Bank of the Year -
India'. The Bank's initiatives in Wholesale Banking have bagged awards in four categories,
namely 'India Domestic Trade Finance Bank of the Year', 'India Domestic Liquidity
Management Initiative of the Year', 'India Domestic Foreign Exchange Bank of the Year' and
'India Domestic COVID Management Initiative of the Year'.
ICICI Bank has been adjudged the 'Best Retail Bank in India' at ‘The Asian Banker Excellence
in Retail Financial Services International Awards, 2021’. This is the eighth year in a row that the
Bank has won this award. The Bank has emerged a winner in two other categories among all
Asian banks. They are: 'Best Automobile/Car Loan Product' and 'Best Digital Customer
Ecosystem Initiative/Application'.
ICICI Bank has been adjudged as the 'Best Private Sector Bank' at the FE Best Banks Awards
2019-2020. The awards are organised by Financial Express, part of the Indian Express group, in
association with its knowledge partner EY. ICICI Bank has been recognised as the winner, on
the basis of its scoring on five criteria - strength and soundness, credit quality, profitability,
growth and efficiency.
ICICI Bank's in-house legal team was adjudged the winner in the 'Digital Solutions' category at
the FT Innovative Lawyers 2021 Awards. The Bank was recognised as part of the list of most
innovative in-house legal teams in Asia Pacific, prepared by Financial Times, an international
business newspaper.
ICICI Bank won multiple accolades at Business Today-KPMG Best Bank Awards. The Bank
was adjudged the winner in the 'Bank of the Year' category. This is the biggest honour in the
Annual Awards programme of Business Today. We also won awards in the ‘Best in Talent &
Workforce Management’ and ‘Best in Fintech Engagement’ categories.
ICICI Bank was adjudged as the 'India Bond House' at the IFR Asia Awards, 2020. The awards
are organised by IFR Asia, a Hong Kong based provider of capital markets intelligence.
ICICI Bank won five awards at the Indian Banks' Association (IBA) Banking Technology
Awards 2021. The Bank was declared winner in three categories namely, 'Best use of IT & Data
Analytics', 'Best Payments Initiative' and 'Best Fintech Adoption', while it was adjudged runners-
up in the 'Best Technology Bank of the Year' and 'Best Digital Financial Inclusion' categories.
ICICI Bank has been recognised as 'India’s Coolest Workplace' by ‘Business Today’ magazine
in the Banking, Financial Services and Insurance (BFSI) sector. This ranking is a result of the
annual survey - ‘India’s Coolest Workplaces’ (erstwhile name was ‘Best Companies to Work
For’). This is the fifth year in a row that the Bank has been ranked the best among companies in
the BFSI sector. The Bank stood at the fourth position in the overall list of top 25 companies.
Awards - 2021
ICICI Bank has been awarded the IBS Intelligence (IBSi) Global FinTech Innovation Awards,
2021. These awards are organised by London-based IBS intelligence, a premier research,
advisory and news analysis firm. The Bank has been declared joint winner, along with Infosys
Finacle for its combined initiative in the 'Most Innovative use of Blockchain in the Banking'
category.
ICICI Bank has won multiple awards at DigiDhan awards programme, organised by the Ministry
of Electronics and Information Technology (MeitY), Government of India. The Bank has
emerged a winner at DigiDhan Awards for FY 2019-20, for achieving the top position in overall
performance in digital payments. We have won DigiDhan Awards for FY 2020-21 for two
accomplishments - one, for onboarding maximum billers on the Bharat Bill Payment System
(BBPS) platform; two, for achieving the highest volume of digital payment transactions among
private sector banks.
ICICI Bank has emerged as the winner among large banks in three categories at the 3rd edition
of the ET BFSI Excellence Awards. These awards were organised by The Economic Times, a
part of the Times Group. The Bank was declared a winner in the following categories: ‘Best
Covid Strategy Implemented - Customer Experience’, ‘Innovative Analytics Implementation
initiative of the year’ and ‘Innovative Payment Initiative of the Year’.
ICICI Bank has been awarded in six categories at the Infosys Finacle Innovation Awards, 2021.
The Bank was declared winner in the following categories: ‘Corporate Banking Digitisation’,
‘Covid Response Innovation’, ‘Customer Journey Reimagination’, ‘Modern Technologies-led
Innovation’, ‘Process Innovation’ and ‘Product Innovation’.
ICICI Bank has been declared as the winner in two categories - 'Best Co-Branded Credit Card of
the Year' and 'Best Credit Card of the Year' - at the 9th edition of the Payments & Cards Awards
organised by Kamikaze Media.
ICICI Bank has emerged as the best employer in India in the BFSI sector, in the Forbes list of the
“World’s Best Employers” for 2021. Further, the Bank is ranked among the top three BFSI
companies globally, according to the list.
ICICI Bank has been adjudged the ‘Strongest Bank in India in 2021’ by The Asian Banker.
ICICI Bank has bagged two awards at the recently concluded ‘Retail Banker International Asia
Trailblazer Awards 2021’. The Bank was awarded in two categories – ‘Best Retail Bank India’
and ‘Best Mortgage Offering’. The awards are organised by Retail Banker International, a
finance publication headquartered in the United Kingdom.
ICICI Bank has also been declared a winner in two categories - 'Best in Future of Intelligence'
and 'Best in Future of Trust' at the ‘2021 IDC Future Enterprise Awards India’. The US-based
entity, International Data Corporation (IDC), a premier advisory service provider to the
information technology, telecommunications, and consumer technology markets, organises these
awards to recognise companies that have made critical breakthroughs in business
transformations.
ICICI Bank’s in-house legal team was adjudged the winner in the ‘Banking and Financial
Services In-House Team of the Year’ category at the ‘2021 ALB India Law Awards’. The
awards are organised by Asian Law Business and Thomson Reuters.
ICICI Bank has emerged as the winner in six categories, at the Asian Banking & Finance
Awards, 2021. The Bank has won awards for its Retail Banking initiatives in two categories -
'COVID Management Initiative of the Year - India' and 'Domestic Retail Bank of the Year -
India'. The Bank's initiatives in Wholesale Banking have bagged awards in four categories,
namely 'India Domestic Trade Finance Bank of the Year', 'India Domestic Liquidity
Management Initiative of the Year', 'India Domestic Foreign Exchange Bank of the Year' and
'India Domestic COVID Management Initiative of the Year'.
ICICI Bank has been adjudged the 'Best Retail Bank in India' at ‘The Asian Banker Excellence
in Retail Financial Services International Awards, 2021’. This is the eighth year in a row that the
Bank has won this award. The Bank has emerged a winner in two other categories among all
Asian banks. They are: 'Best Automobile/Car Loan Product' and 'Best Digital Customer
Ecosystem Initiative/Application'.
ICICI Bank has been adjudged as the 'Best Private Sector Bank' at the FE Best Banks Awards
2019-2020. The awards are organised by Financial Express, part of the Indian Express group, in
association with its knowledge partner EY. ICICI Bank has been recognised as the winner, on
the basis of its scoring on five criteria - strength and soundness, credit quality, profitability,
growth and efficiency.
ICICI Bank's in-house legal team was adjudged the winner in the 'Digital Solutions' category at
the FT Innovative Lawyers 2021 Awards. The Bank was recognised as part of the list of most
innovative in-house legal teams in Asia Pacific, prepared by Financial Times, an international
business newspaper.
ICICI Bank won multiple accolades at Business Today-KPMG Best Bank Awards. The Bank
was adjudged the winner in the 'Bank of the Year' category. This is the biggest honour in the
Annual Awards programme of Business Today. We also won awards in the ‘Best in Talent &
Workforce Management’ and ‘Best in Fintech Engagement’ categories.
ICICI Bank was adjudged as the 'India Bond House' at the IFR Asia Awards, 2020. The awards
are organised by IFR Asia, a Hong Kong based provider of capital markets intelligence.
ICICI Bank won five awards at the Indian Banks' Association (IBA) Banking Technology
Awards 2021. The Bank was declared winner in three categories namely, 'Best use of IT & Data
Analytics', 'Best Payments Initiative' and 'Best Fintech Adoption', while it was adjudged runners-
up in the 'Best Technology Bank of the Year' and 'Best Digital Financial Inclusion' categories.
ICICI Bank has been recognised as 'India’s Coolest Workplace' by ‘Business Today’ magazine
in the Banking, Financial Services and Insurance (BFSI) sector. This ranking is a result of the
annual survey - ‘India’s Coolest Workplaces’ (erstwhile name was ‘Best Companies to Work
For’). This is the fifth year in a row that the Bank has been ranked the best among companies in
the BFSI sector. The Bank stood at the fourth position in the overall list of top 25 companies.
CHAPTER –IV
THEORITICAL FRAMEWORK
Framework of Financial Statement Analysis
Financial Statement Analysis refers to the process of analyzing and assessing a company’s
financial statements to gain an understanding of its business model, financial performance, risk
and profitability of the business.
The role of financial statement analysis is to utilize the information available in a
company's financial statements (Balance Sheet, Income Statement, Cash flow Statement etc)
along with other relevant information, to make economic decisions. Key objective of financial
statement analysis include assessing decisions such as whether to invest in the company's
securities or recommend them to investors, and whether to extend trade or bank credit to the
company. Analysts use financial statement data to evaluate past performance and current
financial position of a company in order to form opinions about the company's ability to earn
profits and generate cash flow in the future.
The framework for financial statement analysis may be broadly categorized into following
six steps:
State the objective and context: Determine what questions the analysis seeks to answer, the form
in which this information needs to be presented, and what resources and how much time is
available to perform the analysis.
Gather data: Acquire the company's financial statements and other relevant data on its industry
and the economy. Ask questions of the company's management, suppliers, and customers and
visit company sites.
Process the data: Make any appropriate adjustments to the financial statements. Calculate
ratios. Prepare exhibits such as graphs and common-size balance sheets.
Analyze and interpret the data: Use the data to answer the questions stated in the first step.
Decide what conclusions or recommendations the information supports.
Report the conclusions or recommendations: Prepare a report and communicate it to its intended
audience. Be sure the report and its dissemination comply with the Code and Standards that
relate to investment analysis and recommendations.
Update the analysis: Repeat these steps periodically and change the conclusions or
recommendations when necessary.
Common Size Analysis:
Common-size financial statements allow an analyst to compare performance across firms,
evaluate a single firm across time, and quickly view certain financial ratios.
Vertical common-size ratios are stated in terms of sales (for income statements) or total assets
(for balance sheets). Horizontal common-size financial sheet data index each item to its value in
a base year.
Stacked column graphs and line graphs can illustrate the changes in financial statement values
over time.
Financial Ratio Analysis:
Financial ratios can be classified as activity, liquidity, solvency, profitability, and valuation
ratios. An analyst should use an appropriate combination of different ratios to evaluate a
company over time and relative to comparable companies.
Financial ratios can be classified as activity, liquidity, solvency, profitability, and valuation
ratios.
Activity ratios include receivables turnover, days of sales outstanding, inventory turnover, days
of inventory on hand, payables turnover, payables payment period, and turnover ratios for total
assets, fixed assets, and working capital.
Liquidity ratios include the current, quick, and cash ratios, the defensive interval, and the cash
conversion cycle.
Solvency ratios include the debt-to-equity, debt-to-capital, debt-to-assets, financial leverage,
interest coverage, and fixed charge coverage ratios.
Profitability ratios include net, gross, and operating profit margins, pretax margin, return on
assets, and operating return on assets, return on total capital, return on total equity, and return on
common equity.
Ratios used in equity analysis include price-to-earnings, price-to-cash flow, price-to-sales, and
price-to-book value ratios, basic and diluted earnings per share. Other ratios are relevant to
specific industries such as retail and financial services.
Credit analysis emphasizes interest coverage ratios, return on capital, debt-to-assets ratios and
ratios of cash flow to total debt.
Limitations of ratio analysis:
Ratios are not useful when viewed in isolation.
Different companies use different accounting treatments.
Comparable ratios can be hard to find for companies that operate in multiple industries.
Ratios must be analyzed relative to one another.
Determining the range of acceptable values for a ratio can be difficult.
Business segments and geographic segments can be analyzed separately to provide more detail
about a company's financial performance. Common-size financial statements and ratio
analysis can be used to construct pro forma financial statements based on a forecast of sales
growth and assumptions about the behavior of a firm's financial ratios.
Happy learning! We wish you good luck in your "Finance for Non-Financial Professionals
Certification Training" journey!
CHAPTER – V
DATA ANALYSIS & INTERPRETATION
For calculating the ratios we need to have the particulars of YES bank like Balance sheet and
income statement as follows.
Table: 4.1
Table showing the particulars of balance sheet for five years
Mar’23 Mar’22 Mar’21 Mar’20 Mar’19
Capital and Liabilities:

Total Share Capital 475.88 469.34 465.23 457.74 425.38
Equity Share Capital 475.88 469.34 465.23 457.74 425.38
Share Application Money 0 0.3 0 0 400.92
Preference Share Capital 0 0 0 0 0
Reserves 35,738.26 29,455.04 24,914.04 21,064.75 14,226.43
Revaluation Reserves 0 0 0 0 0
Net Worth 36,214.14 29,924.68 25,379.27 21,522.49 15,052.73
Deposits 296,246.98 246,706.45 208,586.41 167,404.44 142,811.58
Borrowings 33,006.60 23,846.51 14,394.06 12,915.69 2,685.84
Total Debt 329,253.58 270,552.96 222,980.47 180,320.13 145,497.42
Other Liabilities & Provisions 34,864.17 37,431.87 28,992.86 20,615.94 22,720.62
Total Liabilities 400,331.89 337,909.51 277,352.60 222,458.56 183,270.77
Assets
Cash & Balances with RBI 14,627.40 14,991.09 25,100.82 15,483.28 13,527.21
Balance with Banks, Money at Call 12,652.77 5,946.63 4,568.02 14,459.11 3,979.41
Advances 239,720.64 195,420.03 159,982.67 125,830.59 98,883.05
Investments 111,613.60 97,482.91 70,929.37 58,607.62 58,817.55
Gross Block 6,865.45 5,930.24 5,244.21 4,707.97 3,956.63
Accumulated Depreciation 4,162.37 3,583.05 3,073.56 2,585.16 2,249.90
Net Block 2,703.08 2,347.19 2,170.65 2,122.81 1,706.73
Capital Work In Progress 0 0 0 0 0
Other Assets 19,014.41 21,721.64 14,601.08 5,955.15 6,356.83
400,331.90 337,909.49 277,352.61 222,458.56 183,270.78
Total Assets
Contingent Liabilities 698,062.89 844,374.61 559,681.87 466,236.24 396,594.31
Bills for collection 48,163.51 39,610.71 28,869.10 20,940.13 17,939.62
Book Value (Rs) 152.2 127.52 545.53 470.19 344.44
Table 4.2
Table showing the particulars of income statement for five years
------------------- in Rs. Cr. -------------------
YES Bank
Mar’23 Mar’22 Mar’21 Mar’20 Mar’19
Income
Interest Earned 35,064.87 27,286.35 19,928.21 16,172.90 16,332.26
Other Income 6,852.62 5,243.69 4,335.15 3,983.10 3,470.63
Total Income 41,917.49 32,530.04 24,263.36 20,156.00 19,802.89
Expenditure
Interest expended 19,253.75 14,989.58 9,385.08 7,786.30 8,911.10
Employee Cost 3,965.38 3,399.91 2,836.04 2,289.18 2,238.20
Selling and Admin Expenses 0 2,647.25 2,510.82 3,395.83 2,851.26
Depreciation 651.67 542.52 497.41 394.39 359.91

Miscellaneous Expenses 11,320.41 5,873.42 5,205.97 3,169.12 3,197.49
Preoperative Exp Capitalised 0 0 0 0 0
Operating Expenses 11,236.12 9,241.64 8,045.36 7,703.41 7,290.66
Provisions & Contingencies 4,701.34 3,221.46 3,004.88 1,545.11 1,356.20
Total Expenses 35,191.21 27,452.68 20,435.32 17,034.82 17,557.96
6,726.28 5,167.09 3,926.40 2,948.70 2,244.94
Net Profit for the Year
Extraordinary Items -4.47 -2.12 -2.65 -0.93 -0.59
Profit brought forward 8,399.65 6,174.24 4,532.79 3,455.57 2,574.63
Total 15,121.46 11,339.21 8,456.54 6,403.34 4,818.98
Preference Dividend 0 0 0 0 0
Equity Dividend 1,309.08 1,009.08 767.62 549.29 425.38
Corporate Dividend Tax 222.48 163.7 124.53 91.23 72.29
Per share data (annualized)
Earnings Per Share (Rs) 28.27 22.02 84.4 64.42 52.77
Equity Dividend (%) 275 215 165 120 100
Book Value (Rs) 152.2 127.52 545.53 470.19 344.44
Appropriations
Transfer to Statutory Reserves 1,785.08 1,250.08 997.52 935.15 641.25
Transfer to Other Reserves 672.63 516.7 392.64 294.87 224.5

Proposed Dividend/Transfer to Govt
1,531.56 1,172.78 892.15 640.52 497.67
Balance c/f to Balance Sheet 11,132.18 8,399.65 6,174.24 4,532.79 3,455.57
Total 15,121.45 11,339.21 8,456.55 6,403.33 4,818.99
CURRENT RATIO'S
current ratio=current assets /current
1 0.78 0.08 0.06 0.03 0.04
liabilities
Liquid Assets to Total Assets Ratio
2 0.07 0.06 0.11 0.13 0.10
= Liquid Assets / Total Assets
Acid Test Ratio = Quick Assets /
3 7.97 6.2 6.79 7.03 5.15
Current Liabilities
Credit Deposit Ratio = Total Loan
4 35.99 78.06 76.02 72.44 66.64
and Advances / Total Deposit
ANALYSIS:
Table: 4.3 Table showing the calculations of Current Ratios
CURRENT RATIO:
This ratio measures the degree of short term liquidity of the bank. It indicates whether the current
assets are sufficient to meet the current liabilities. It is generally believed that a good current
ratio should be between 1.5:1 and 2:1.
Generally, higher the value of this ratio, greater will be the margin and financial solvency of the
bank.
Current Ratio = Current Assets / Current Liabilities
The current assets included in this study were cash in hand, balance with other banks (current
account only), short term loan-advances and bills receivables, interest receivable, sundry debtors.
The current liabilities included deposit (current account only), short term borrowings (cash credit
overdraft), interest payable, sundry creditors, bills payables and other short term liabilities.
Chart Title
current ratio=current assets /current liabilities
Liquid Assets to Total Assets Ratio = Liquid Assets / Total Assets
Acid Test Ratio = Quick Assets / Current Liabilities
Credit Deposit Ratio = Total Loan and Advances / Total Deposit
100
80
60
40
20
0
1 2 3 4 5
INTERPRETATION: Current ratio is gradually improving. It is very low (0.03) in the year
2019 and high (0.78) in the year 2020. This is because the bank raised more current account
deposits (current liabilities) during the year 2019 which results in the lower current ratio. Even
though the current ratio is improving it is not up to the mark (1.5:1 to 2:1) indicating the lower
capacity to meet its short term liabilities.
LIQUID ASSETS TO TOTAL ASSETS RATIO
The degree of liquidity performance adopted by the bank is depicted by this ratio.
Liquid Assets to Total Assets Ratio = Liquid Assets / Total Assets
The liquid assets included cash in hand and balance with other banks (current account only).
Total assets included cash in hand, balance with other banks, investment, loan and advances,
fixed assets and other assets.
Liquid Assets to Total Assets Ratio =

0.14 Liquid Assets / Total
0.13 Assets
0.12 0.11
0.1 Liquid Assets to
0.1
0.07 Total Assets Ratio
0.08 0.06 = Liquid Assets /
0.06 Total Assets
0.04
0.02
0
INTERPRETATION: Liquid Assets to Total Assets ratio increased from the year 2018 to 2018
and it was high (0.13) during 2019 because of the increase in money at call and short notice
during that period and it gradually decreases and was very low (0.06) in the year 2019 because of
decrease in the maintenance of money with RBI and very low maintenance of money at call and
short term notice.
ACID TEST RATIO

This ratio is called quick ratio or near money ratio. This represents the ratio between quick assets
and current liabilities and computed as follows
Acid Test Ratio = Quick Assets / Current Liabilities
The quick assets included cash in hand and balance with other banks (current account only). The
current liabilitiesincluded deposit (current account only), interest payable, sundry creditors, bills
payables and other short term liabilities.Excluded short term borrowings (cash credit overdraft)
Acid Test Ratio = Quick Assets /

9
8 Current Liabilities
7
6 Acid Test Ratio =
5 Quick Assets / Current
4 Liabilities
3
2
1
0
INTERPRETATION: Acid test ratio is increased from the year 2018 to 2019 and again
decreases during 2018 and 2019 and again increased in 2020.This is because of increase in
liquid assets(money at call and short notice) and decrease in current liabilities( interest accrued)
in 2019. It again decreases during 2018 and 2019 because of decrease in money at call and short
notice with other institutions.
CREDIT DEPOSIT RATIO
This ratio is the difference between the total loan-advances and total deposits.
Credit Deposit Ratio = Total Loan and Advances / Total Deposit
Credit Deposit Ratio = Total Loan and
Advances / Total Deposit
90
80
70 Credit Deposit Ra-
60 tio = Total Loan
50 and Advances /
40 Total Deposit
30
20
10
0
INTERPRETATION: Credit Deposit Ratio is increasing over the period of time indicating that
the bank is giving more loans from the deposited amount which means that banks might not have
enough liquidity to cover any unforeseen fund requirements. This is because the bank is
increasing its cash credits, over drafts, loans repayable on demand components which may block
the availability of fund.
SOLVENCY RATIOS
These ratios indicate banks involvement in the total resources and provide basis for measuring
leverage ratio.
These ratios indicate the ability of the bank to meet its medium as well as long term obligations
and also provide the basis for measuring the leverage effect on the bank. The various ratios
employed were as follows:
Table: 4.4
Table showing the calculations of Solvency ratios
SOLVENCY RATIO'S
Debt Equity Ratio =
1 Long Term Liabilities / 8.18 8.24 8.22 7.78 9.49
Net Worth
Indebtedness Ratio =
2 Total Liabilities / Net 11.05 11.29 10.93 10.34 12.18
Worth
Fixed Assets to Net-
3 Worth Ratio = Fixed 9.90 9.93 9.22 8.69 10.64
Assets / Net Worth
Net Worth = Total
4 Assets – Total liabilities 362141373 299246800 253792700 215224900 150527300
(Outside/ External)
Net Capital Ratio =
Total Assets / Total
5 1.099 1.097 1.101 1.107 1.089
liabilities (Outside/
External)
DEBT-EQUITY RATIO
This ratio is called ‘leverage ratio’. This compares the banks stake in the business with outside
term liabilities.
Lower value of the ratio indicates that the leverage effect will be restricted to the minor role of
debt and major capitalbeing equity, the bank is supposed to be trading on thick equity.
Debt Equity Ratio = Long Term Liabilities / Net Worth

In the above ratio, debt represents only long term liabilities and not current liabilities (deposit-
fixed, saving), while equity refers to net worth after deducting intangible assets. Net worth
includes statutory reserves, capital reserves, profits and other reserves and share capital.
Debt Equity Ratio = Long Term

Liabilities / Net Worth
10 9.49
9 8.18 8.24 8.22
7.78
8
7
6
5 Debt Equity Ratio =
4 Long Term Liabili...
3
2
1
0
INTERPRETATION: Debt Equity Ratio is low(7.78) in the year 2019 and then again increased
gradually because of high increase in capital reserve (additions during the year and opening
balance).In 2018,2019 change in capital reserve is very less but liabilities are increasing and in
2020 the company increased its capital reserve which results in the decrement(8.18), a good sign.
INDEBTEDNESS RATIO
The ratio indicates the amount owed by the bank to creditors. The ratio reflects the solvency
position of the bank in a better way. The lower the ratio, the better is the solvency position.
Indebtedness Ratio = Total Liabilities / Net Worth
The total liabilities included statutory reserves, capital reserves, revenue reserves, deposit,
borrowings, contingent liabilities, other liabilities and share capital.
Indebtedness Ratio = Total Liabilities /

Net Worth
12.5
12
11.5
Indebtedness Ratio =
11 Total Liabilities / Ne...
10.5
10
9.5
9
INTERPRETATION: Indebtedness ratio is also low in 2019 and again increased in 2018 and
2019 and decreased in the 2020 because of change in capital reserve and increase in liabilities.
FIXED ASSETS TO NET-WORTH RATIO

Fixed Assets to Net-Worth Ratio = Fixed Assets / Net Worth
The fixed assets included balance with other banks (Fixed deposit account only), investment,
long-term loan and advance, building and furniture. Fixed assets are considered at their book
values (cost less depreciation).
Fixed Assets to Net-Worth Ratio = Fixed
Assets / Net Worth
12
10
Fixed Assets to Net-Worth Ratio
8 = Fixed Assets / Net Worth
INTERPRETATION: Fixed asset turn to net worth ratio is showing that Net worth is frozen in
the form of fixed assets in the year 2018. Later in the year 2018&2019 the bank opened 558 new
branches and 3400 new ATM’s which required high infrastructure and staffing expenses. These
all shows that the bank is expanding more and it is resulting in more assets and at the same time
it also indicates the actual amount of fixed assets the bank hold.
TESTS OF STRENGTH
This test provides a basis to know the real worth of the Bank. The term net worth refers to the
owned funds employed in the business.
NET WORTH
It indicates what the bank owes to the owners of the business. It measures the excess of assets
over outside liabilities, which indicates the soundness of the bank.
Net Worth = Total Assets – Total liabilities (Outside/ External).

Net Worth = Total Assets – Total liabil-
ities (Outside/ External)
400000000
350000000
300000000 Net Worth = Total Assets – To-
tal liabilities (Outside/ External)
250000000
200000000
150000000
100000000
50000000
0
INTERPRETATION: Net worth of the bank is increasing year to year which indicates the
soundness of the bank. Even though there is a positive sign in equity, the strength of the net
worth is frozen in the form of fixed assets in the year 2018 resulting in high(10.64) and
decreased in 2019 and increased in the year 2018 and 2019 because of increase in fixed assets(as
the bank opened 558 new branches and 3400 new ATM’s which required high infrastructure and
staffing expenses).
NET CAPITAL RATIO:

The ratio indicates the degree of liquidity of the bank in the long run. It measures the degree of
availability of assets to pay off the long term liabilities. This ratio indicates the relationship
between total assets and liabilities of the bank.
This ratio would throw light on the real financial strength of the bank.
Net Capital Ratio = Total Assets / Total liabilities (Outside/ External).

Net Capital Ratio = Total Assets / Total
liabilities (Outside/ External)
1.11
1.105 Net Capital Ratio = Total Assets /

Total liabilities (Outside/ Exter-
1.1 nal)
1.095
1.09
1.085
1.08
INTERPRETATION: Net Capital Ratio is high(1.107, 1.101) in 2019 and 2018 because of
increase in assets during these two years and is decreased in 2019(1.097) and again increased in
2020(1.099) indicating the increase in external and outside liabilities.
PROFITABILITY RATIOS
These ratios were used to compare the return to the investment. Following were the important
ratios computed. This ratio provides a fairly sound method of diagnosis of the financial status
and overall efficiency of the Bank. It indicatesthe profitability of the investment and credit given
by the bank.
Table: 4.5
Table showing the calculations of Profitability ratios
PROFITABILITY RATIO'S
Return on Equity (ROE) =
1
net profit/ total equity. 18.57% 17.27% 15.47% 13.70% 14.91%
Net profit to Total Assets
2 Ratio = Net Profit / Total 0.017 0.015 0.014 0.013 0.012
Assets
3 Net Profit to Net Worth 0.186 0.173 0.155 0.137 0.149
Ratio = Net Profit / Net
Worth
Net Profit to Fixed Assets
1.875E- 1.73916E- 1.6775E- 1.5773E- 1.402E-
4 Ratio = Net Profit / Fixed
06 06 06 06 06
Assets
NET PROFIT TO TOTAL ASSETS RATIO
This is ratio of profit on total assets of the bank and their employment. An increasing trend over
the yearsindicates the overall efficiency of the bank.
Net profit to Total Assets Ratio = Net Profit / Total Assets.
Net profit to Total Assets Ratio = Net

Profit / Total Assets
0.018
0.016
0.014
0.012
0.01
0.008 Net profit to Total
0.006 Assets Ratio = N...
0.004
0.002
0
Mar ‘20 Mar ‘19 Mar ‘18 Mar ‘17 Mar ‘16
INTERPRETATION: Net Profit to total asset ratio in indicating the increasing trend which
reveals that the company is using its assets efficiently for generating the profits.
NET PROFIT TO NET WORTH RATIO
The ratio of net profit to net worth shows whether profitability is being maintained or not.
Net Profit to Net Worth Ratio = Net Profit / Net Worth.
Net Profit to Net Worth Ratio = Net Profit /
Net Worth
0.2
0.18
0.16
0.14 Net Profit to Net
0.12 Worth Ratio = Net
0.1 Profit / Net Worth
0.08
0.06
0.04
0.02
0
INTERPRETATION: Return On Equity is low (13.70) in 2019 because of high capital reserves
and less change in net profit from 2018 and it is increasing from 2019 because of less change in
capital reserve and high increase in net profits.
NET PROFIT TO FIXED ASSETS RATIO
The ratio indicates whether the fixed assets are being used profitability. A decline in the ratio
shows that either the assets are being kept idle or the business conditions are bad.
Net Profit to Fixed Assets Ratio = Net Profit / Fixed Assets

Net Profit to Fixed Assets Ratio = Net
Profit / Fixed Assets
2.00E-06
1.80E-06
1.60E-06
1.40E-06
Net Profit to Fixed
1.20E-06
Assets Ratio = Net
1.00E-06 Profit / Fixed Assets
8.00E-07
6.00E-07
4.00E-07
2.00E-07
0.00E+00
INTERPRETATION: Net profit to fixed assets indicates the positive trend showing that the
company is utilizing the assets effectively.
EFFICIENCY RATIOS
This test provides a clear picture of financial efficiency of the bank. It indicates the profits for
every rupee spent.
Four ratios were adopted to assess the efficiency of the bank, viz., Gross Ratio, Operating Ratio,
Management Ratio and Establishment Ratio.
GROSS RATIO
This ratio helps to ascertain how efficiently the gross income of the bank was earned. The ratio
was computed as follows.
Gross Ratio = Total Expenses / Gross Income

The gross income included interest and discount, commission and brokerage and other income.
The total expenses included interest, salary, allowance, rent, legal expenses, audit expenses and
other provisions.
Table: 4.6
Table showing the calculation of Efficiency ratio
EFFICIENCY RATIO
Gross Ratio = Total Expenses / Gross
1 0.840 0.842 0.839 0.852 0.887
Income
Gross Ratio = Total Expenses / Gross

0.9 Income
0.89
0.88
0.87
0.86
0.85 Gross Ratio = To-
0.84 tal Expenses /
0.83 Gross Income
0.82
0.81
INTERPRETATION: Gross ratio is high(0.887) in the year 2018 due to higher expansion in
the branch network and amalgamation of centurion bank which results in the large amount of
expenses and the ratio increased again in 2019(0.844) because of expansion of network from
2544 to 3062 branches and increase in ATM’s from 8,913 to 10,743.
OPERATING RATIO
This ratio indicates the proportion of gross income being used for meeting the operating
expenses. An increase in the ratio indicates a decline in the efficiency of the bank.
Operating Ratio = Operating Expenses / Gross Income
The operating expenses included interest, salary; allowances, provident fund contribution, rent,
legal expenses, audit expenses and other expenses (excluded provisions).
Table: 4.7
Table showing the calculations of operating ratio
OPERATING RATIO
Operating Ratio = Operating Expenses /
1 0.268 0.283 0.330 0.385 0.368
Gross Income
Operating Ratio = Operating Expenses /

Gross Income
0.45
0.4
0.35 Operating Ratio = Operating
0.3 Expenses / Gross Income
0.25
0.2
0.15
0.1
0.05
0
INTERPRETATION: Operating Ratio is high during 2019(0.382) because of increase in

payments and provisions to employees, stationary items, advertisement and publicity during the
year and it is decreased to 0.268 in 2020 due to less change in expenses and higher increase of
gross income.
MANAGEMENT RATIO
This ratio indicates the proportion of gross income being used for meeting the management
Management Ratio = Management Expenses / Gross Income

The management expenses included salary; allowances, provident fund contribution, rent, legal
expenses, audit expenses and other expenses (excluded provisions).
Table: 4.8
Table showing the calculation of Management ratio
MANAGEMENT RATIO
Management Ratio = Management Expenses /
1 0.116 0.128 0.144 0.144 0.141
Gross Income
Management Ratio = Management

Expenses / Gross Income
0.16
0.14
0.12
0.1 Management Ratio =
0.08 Management Expenses /
Gross Income
0.06
0.04
0.02
0
INTERPRETATION: Management ratio is high (0.144) in 2019 and 2018 because of increase
in salary expense as the employees increased due to the expansion of the branches to semi urban
areas. It gradually decreased as the company maintained its expenses and increased its gross
income.
ESTABLISHMENT RATIO
This ratio indicates the proportion of gross income being used for meeting the establishment
Establishment Ratio = Establishment Expenses / Gross Income.

Table: 4.9
Table showing the calculation of Establishment Ratio
ESTABLISHMENT RATIO
Establishment Ratio = Establishment Expenses /
1 0.095 0.105 0.117 0.115 0.114
Gross Income
Establishment Ratio = Establishment

Expenses / Gross Income
0.12
0.1 Establishment Ratio = Estab-

lishment Expenses / Gross
0.08 Income
0.06
0.04
0.02
INTERPRETATION: Establishment ratio is high during the years 2019 2018 and 2019 because
of huge expansion of the bank increase in costs like employee salaries and others but the bank is
gradually decreasing the expenses by generating more income in 2020.
DUPONT ANALYSIS
DuPont analysis tells us that ROE is affected by three things:

- Operating efficiency, which is measured by profit margin.
- Asset use efficiency, which is measured by total asset turnover.
- Financial leverage, which is measured by the equity multiplier.
ROE = Profit Margin (Profit/Sales) * Total Asset Turnover (Sales/Assets) * Equity

Multiplier (Assets/Equity)
DuPont Financial Analysis Model is a rather straightforward method for assessing the factors
that influence a firm’s financial performance.
4.10Table showing the calculations of DuPont Analysis
1 Average Assets 400,331.90 337,909.49 277,352.61 222,458.56 183,270.78
2 Average Equity 36,214.14 29,924.68 25,379.27 21,522.49 15,052.73
3 Interest Revenue 35,064.87 27,286.35 19,928.21 16,172.90 16,332.26
4 Noninterest Revenue 6,852.62 5,243.69 4,335.15 3,983.10 3,470.63
5 Net Income 6,726.28 5,167.09 3,926.40 2,948.70 2,244.94
Return On Average Equity (5/2) ROE 0.1857 0.172 0.154 0.137 0.149
Return On Average Assets (5/1) ROA 0.0168 0.015 0.014 0.013 0.012
Equity Multiplier (1/2) EM 11.054 11.29 10.92 10.33 12.17
6
Net Profit Margin (5/ NPM 0.1605 0.158 0.161 0.146 0.113
(3+4))
Average Total Asset Turn ((3+4)/ ATAT 0.1047 0.096 0.087 0.090 0.108
Over 1)
Return on Equity (ROE): measures overall profitability of the FI per rupee of equity
Return on Assets (ROA):measures profit generated relative to the FI’s assets.
Equity Multiplier (EM):measures the extent to which assets of the FI are funded with equity
relative to debt.
Profit Margin (PM):measures the ability to pay expenses and generate net income from interest
and noninterest income.
Asset Utilization (AU):measures the amount of interest and noninterest income generated per
dollar of total assets.
Return on Equity and Its Components

ROE is defined as:
ROE= Net income
Total equity capital
It measures the amount of net income after taxes earned for each Rupee of equity capital
contributed by the bank’s stockholders. Taking these data from the financial statements of YES
bank ,We have ROE as mentioned above in the table.
Generally, bank stockholders prefer ROE to be high. It is possible; however, that an increase in
ROE indicates increased risk. For example, ROE increases if total equity capital decreases
relative to net income. A large drop in equity capital may result in a violation of minimum
regulatory capital standards and an increased risk of insolvency for the bank. An increase in ROE
may simply result from an increase in a bank’s leverage—an increase in its debt-to-equity ratio.
Generally, bank stockholders prefer ROE to be high.
ROE can be decomposed into two components as
ROE = ROA x EM
ROA = Net Income X Total Assets

Total Assets Equity Capital
High values for these ratios produce high ROEs, but, as noted, managers should be concerned
about the source of high ROEs. For example, an increase in ROE due to an increase in the EM
means that the bank’s leverage, and therefore its solvency risk, has increased. A further
breakdown of a bank’s profitability is that of dividing ROA) into its profit margin (PM) and asset
utilization (AU) ratio components
ROA= Net income X Total operating income
Total operating income Total assets
ROA= PM X AU
PM measures the bank’s ability to control the expenses. AU measures the bank’s ability to
generate the income from assets.
INTERPRETATION: The overall ROE of the bank is increasing which is a good sign. In 2018
ROE is 14.9% gradually it increases and recorded highest in the year 2020(18.57). At the same
time EM is fluctuating and decreased from 2018(12.17) to 2019(10.33) and again it increased in
the year2020(11.054). This indicates that because of high expansion bank has experienced some
decrease during those years and now it is able to have control over the assets. All the other
components are indicating the soundness of the bank.
CHAPTER-VI
FINDINGS
 Current ratio indicates that banks liquidity and its repayment of debts are sound during
the period of study.
 Cash position ratio or Absolute Liquidity Ratio is shows during the study period the bank
liquidity position is good.
 Fixed assets ratio explains portion of working capital had financed by long-term funds
during the study period.
 Debt equity ratio explains the creditors are safe during the study period.
 Proprietary ratio reveals that the bank long-term solvency position is good in the study
period.
SUGGESTIONS
It is recommended that bank to use more ratios, especially those in the study which are so
significant as improvement of their financial performance measures. yes bank should probably
consider the use of the fund to invest other opportunities to get a profit, since they seem to be
paying or expending more interest not only for the majority of participants, but for businesses in
general.
It is also recommended that yes bank owners/ managers request more research study and
financial analysis to their financial staff and also external examiner on bankruptcy prediction
models at relevant institutions such as universities. The few models presented in this study may
be used by yes bank as well, since they are simple and important to know financial health of the
bank.
The yes bank should have increased its current assets than its current liabilities to make positive
working capital. The bank should have decreased its current liabilities by paying through the
profit which is being made.
The debt should been minimized to keep debt ratio and debt-equity ratio to a minimum value
efficiency use of asset good as liquidity measures of Asset accounts such us total asset turnover
of the bank are significant increase in positive account side but decreases some accounts the
point is that there is no proper efficiency use of asset so yes bank executive have to consider best
asset position use
CONCLUSIONS
 The bank has been growing good from the last five years indicating the positive sign to
the shareholders and the stake holders.
 Bank’s capital adequacy ratio is good and it is maintaining more than the BASEL-iii
requirements
 Amalgamation of centurion bank of Punjab in 2015 has some impact in its functions and
assets but it takes less time for the bank to regain its profits
 The bank has been expanding its branches with less costs and expenses by managing its
human power and assets efficiently
 Profitability and solvency ratios are indicating good soundness of the bank.
 Efficiency ratios like management ,operating, operating and gross ratios are indicating
that the bank is effectively managing the employee costs and other administrative costs
 Current Ratios shows some negative indications regarding the maintenance of current
assets for current liabilities but actually banks maintain the capital to risk free assets
known as capital adequacy ratio for fulfilling the obligations which was good for the
bank.
The overall performance of the bank was good showing a positive sign to the stakeholders.
BIBLIOGRAPHY
Books Referred:
 Accountancy. R.K. Mittal, A.K.Jain.

 Financial Management- Theory and Practice. Shashi.K.Gupta, R.K. Sharma.
 P.N. VARSHNEY “Banking Law And Practices” Sultan Chand & Sons
 SUNDRAM & VARSHNEY “Banking, Theory Law And Practices” Sultan Chand &
Sons
 DR. S. N. MAHESHWARI “Principles Of Accounting” Sultan Chand & Sons
 Advanced Accounting, revised edition june 2010-ICAI
Internet websites:
 www.icici.in
 www.moneycontrol.com
 www.money.rediff.com
 www.wikipedia.org
 www.google.com
 www.scribd.com
 www.managementparadise.com
 www.rbi.org.in

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PROJECT REPORT

FINANCIAL STATEMENT ANALYSIS

Under the Guidance of

Mr. K. SANDEEP REDDY

School of Management studies

CHAPTER - I  Need for the study

CHAPTER - II REVIEW OF LITERATURE

KEYWORDS: Bank, Financial statement, Profitability, Performance

FINANCIAL STATEMENTS ANALYSIS:

Financial Statement Analysis (Meaning and Purpose):

 Measuring the profitability

Techniques and Tools of Financial Statement Analysis:

The main objectives of this study are the following:-

Research methodology is a way to systematically solve the research problems. It is

Hr Machirajn international publishers (2018):

DR.S. Gurusamy (2018):

8. Dangwal and Kapoor (2019)

Jighyasu Gaur (2019)

Manish Mittal and Arunna Dhademade (2019)

Medhat Tarawneh (2018)

Vasant desai (2018):

Hr Machirajn international publishers (2018):

DR.S. Gurusamy (2018):

Dangwal and Kapoor (2019)

ICICI GROUP COMPANIES

Mr. Hari L. Mundra

Mr. Sandeep Bakhshi,

Ms. Neelam Dhawan

Mr. Anup Bagchi,

Mr. Radhakrishnan Nair

Mr. Sandeep Batra,

Mr. Uday Chitale

Ms. Vibha Paul Rishi

Terms and conditions of appointment of Independent Directors

Sandeep Bakhshi Anup Bagchi Sandeep Batra

Managing Director & Executive Director Executive Director

Capital and Liabilities:

Depreciation 651.67 542.52 497.41 394.39 359.91

Transfer to Other Reserves 672.63 516.7 392.64 294.87 224.5

Balance c/f to Balance Sheet 11,132.18 8,399.65 6,174.24 4,532.79 3,455.57

Total 15,121.45 11,339.21 8,456.55 6,403.33 4,818.99

Current Ratio = Current Assets / Current Liabilities

LIQUID ASSETS TO TOTAL ASSETS RATIO

Liquid Assets to Total Assets Ratio =

ACID TEST RATIO

Acid Test Ratio = Quick Assets / Current Liabilities

Acid Test Ratio = Quick Assets /

CREDIT DEPOSIT RATIO

Debt Equity Ratio = Long Term Liabilities / Net Worth

Debt Equity Ratio = Long Term

Indebtedness Ratio = Total Liabilities / Net Worth

Indebtedness Ratio = Total Liabilities /

FIXED ASSETS TO NET-WORTH RATIO

Net Worth = Total Assets – Total liabilities (Outside/ External).

NET CAPITAL RATIO:

Net Capital Ratio = Total Assets / Total liabilities (Outside/ External).

1.105 Net Capital Ratio = Total Assets /

NET PROFIT TO TOTAL ASSETS RATIO

Net profit to Total Assets Ratio = Net Profit / Total Assets.

Net profit to Total Assets Ratio = Net

NET PROFIT TO FIXED ASSETS RATIO

Net Profit to Fixed Assets Ratio = Net Profit / Fixed Assets

Gross Ratio = Total Expenses / Gross Income