Performance Review: Q3Q3-2011

January 24, 2011

forwardCertain statements in these slides are forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results due may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in contained ICICI Bank's filings with the US Securities and Exchange Commission. Commission. All financial and other information in these slides, other than financial and other information for specific subsidiaries where specifically specifically mentioned, is on an unconsolidated basis for ICICI Bank Limited only unless specifically stated to be on a consolidated basis for ICICI Bank ICICI Limited and its subsidiaries. Please also refer to the statement of Indian unconsolidated, consolidated and segmental results required by Indian the regulations that has, along with these slides, been filed with the stock Bank exchanges in India where ICICI Banks equity shares are listed and with the New York Stock Exchange and the US Securities and Exchange www.icicibank icicibank.com Commission, and is available on our website www.icicibank.com

Overview

Q3-2011: Profitability highlights Q330.5% increase in standalone profit after tax from ` Q3Q311.01 bn in Q3-2010 to ` 14.37 bn in Q3-2011
year-onNet interest income up 12.3% year-on-year ; net interest margin maintained at 2.6% Fee income up 14.3% year-on-year year-onyear-onProvisions down 53.6% year-on-year

36.0% increase in consolidated profit after tax from 9M9M` 33.28 bn in 9M-2010 to ` 45.25 bn in 9M-2011
Financials include operations of erstwhile Bank of Rajasthan from August 13, 2010
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Q3-2011: Balance sheet highlights Q315.3% increase in advances year-on-year to ` year-on2,066.92 bn at December 31, 2010 from ` 1,792.69 bn at December 31, 2009 Current and savings account (CASA) ratio increased to 44.2% at December 31, 2010 from 39.6% at December 31, 2009 nonNet non-performing asset ratio declined to 1.16% at December 31, 2010 from 2.19% at December 31, 2009 TierStrong capital adequacy ratio of 19.98% and Tier-1 capital adequacy of 13.72%

Unconsolidated financials

Profit & loss statement

(` billion)
FY 2010 Net interest income Non-interest income Non81.14 74.78 Q32010 20.58 16.73 9M2010 60.79 55.87 Q22011 22.04 15.78 Q32011 23.12 17.49 9M2011 65.07 50.07 Q3-o-Q3 growth 12.3% 4.5%

- Fee income - Other income - Treasury income

Total income Operating expenses DMA expenses Lease depreciation Operating profit

56.50 6.471 11.81

155.92 55.93 1.25 1.42 97.32

14.22 2.771 (0.26)

37.31 13.11 0.31 0.20 23.69

41.28 4.741 9.85

116.66 41.34 0.80 1.19 73.33

15.90 1.32 (1.44)

37.82 15.00 0.35 0.35 22.12

16.25 1.03 0.21

40.61 16.67 0.40 0.11 23.43

46.28 3.98 (0.19)

115.14 45.92 1.12 0.68 67.42

14.3% (62.8)% 8.8% 27.2% 29.0% (45.0)% (1.1)%

1.

Includes profit of ` 2.03 bn related to transfer of merchant acquiring operations to new entity 81% owned by First Data

Profit & loss statement

(` billion)
FY 2010 Operating profit Provisions Profit before tax Tax Profit after tax 97.32 43.87 53.45 13.20 40.25 Q32010 23.69 10.02 13.67 2.66 11.01 9M2010 73.33 33.97 39.36 9.17 30.19 Q22011 22.12 6.41 15.71 3.35 12.36 Q32011 23.43 4.65 18.78 4.41 14.37 9M2011 67.42 19.03 48.39 11.40 36.99 Q3-o-Q3 growth (1.1)% (53.6)% 37.4% 65.8% 30.5%

Balance sheet: Assets

December 31, 2009 Cash & bank balances Investments 305.78 1,234.09 September December 30, 2010 31, 2010 348.48 1,362.75 314.61 1,337.03

(` billion)
Y-o-Y growth 2.9% 8.3%

- SLR investments - Equity investment in subsidiaries - RIDF1 and related

Advances Fixed & other assets Total assets

752.62 121.00 75.46

1,792.69 229.72 3,562.28

696.82 122.00 134.47

1,942.01 246.74 3,899.98

667.11 122.00 143.92

2,066.92 210.41 3,928.97

(11.4)% 0.8% 47.6%

15.3% (8.4)% 10.3%

Investment in security receipts of asset reconstruction companies was ` 29.75 bn at December 31, 2010 exposure) Credit derivative exposure (including off balance sheet exposure) of ` 42.42 credits) bn at December 31, 2010 (underlying comprises Indian corporate credits) Including impact of exchange rate movement 1: Rural Infrastructure Development Fund
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Composition of total loan book

At September 30, 2010 At December 31, 2010

Overseas bran ch es 25. 1% Ru ral 6. 8%

Retail busin ess grou p 40. 2%

Overseas bran c h es 24. 4% Rural 7. 4%

1 Retail bu sin ess g rou p 38. 2%

Domestic corporate 23. 5%

S ME 4. 4%

Domestic c orporate 25. 8%

S ME 4. 2%

Total loan book: ` 1,942 bn

Total loan book: ` 2,067 bn

1.
10

Retail business group includes builder loans and dealer funding

Composition of retail loan book

At September 30, 2010
P erso na l Cred i t c a rd s l o a ns Other 4.4% 4.0% sec ured 2.6%

At December 31, 2010

P erso na l Cred i t l o a ns c ard s Other 3.2% 4.0% sec ured 2.4%

2 1

Vehi c l e l o a ns 24.5%

H o me 64.5%

Vehi c l e l o a ns 24.9%

H o me 65.5%

Total retail loan book: ` 781 bn

1. 2.
11

Total retail loan book: ` 790 bn

September 30, 2010 :Vehicle loans includes auto loans 9.0%, commercial business 15.3% December 31, 2010 :Vehicle loans includes auto loans 8.9%, commercial business 16.0%

Equity investment in subsidiaries

(` billion)
December 31, 2009 ICICI Prudential Life Insurance ICICI Bank Canada ICICI Bank UK ICICI Home Finance ICICI Lombard General Insurance ICICI Bank Eurasia LLC ICICI Securities Primary Dealership ICICI Securities Limited ICICI AMC ICICI Venture Funds Mgmt Others Total 35.93 33.50 23.25 11.12 10.96 3.00 1.58 0.87 0.61 0.05 0.14 121.00 September 30, 2010 35.93 33.50 23.25 11.12 10.96 3.00 1.58 1.87 0.61 0.05 0.14 122.00 December 31, 2010 35.93 33.50 23.25 11.12 10.96 3.00 1.58 1.87 0.61 0.05 0.14 122.00

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Balance sheet: Liabilities

December 31, 2009 Net worth 522.40 September 30, 2010 539.75

(` billion)
December 31, 2010 554.29 Y-o-Y growth 6.1%

- Equity capital - Reserves

Deposits

11.14 511.26
1,976.53

11.51 528.24
2,230.94

11.51 542.78
2,177.47

3.3% 6.2%
10.2%

- Savings - Current
Borrowings1 Other liabilities Total liabilities
1.

510.54 271.93
918.29 145.06 3,562.28

632.48 348.57
970.10 159.19 3,899.98

645.77 316.23
1,053.27 143.94 3,928.97

26.5% 16.3%
14.7% (0.8)% 10.3%

Borrowings include preference shares amounting to ` 3.50 bn

Credit/deposit ratio of 75% on the domestic balance sheet at December 31, 2010
Including impact of exchange rate movement
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Composition of borrowings
(` billion)
December 31, 2009 Domestic - Capital instruments1 - Other borrowings Overseas - Capital instruments - Other borrowings Total borrowings
1.

September 30, 2010 481.51 333.60 147.91 488.59 15.22 473.37 970.10

December 31, 2010 509.51 333.54 175.97 543.76 15.14 528.62 1,053.27

415.04 271.24 143.80 503.25 15.75 487.50 918.29

Includes preference share capital ` 3.50 bn

Capital instruments constitute 65% of domestic borrowings

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Capital adequacy (Basel II)

Basel II December 31, 2009 ` bn Total Capital - Tier I - Tier II Risk weighted assets 597.74 438.44 159.30 3,081.51 % 19.40% 14.23% 5.17% September 30, 2010 ` bn 640.57 436.55 204.02 3,166.80 % 20.23% 13.79% 6.44% December 31, 2010 ` bn 659.19 452.63 206.56 3,299.65 % 19.98% 13.72% 6.26%

-On balance sheet -Off balance sheet

2,363.77 717.74

2,430.78 736.02

2,536.26 763.39

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Key ratios
FY 2010 Return on average net worth1, 2 Return on average assets2 (` Weighted avg EPS (`)2 (` Book value (`) Net interest margin2 Fee to income Cost to income (incl. DMA) Cost to average assets (incl. DMA)2 CASA ratio 7.9 1.1 36.1 463 2.5 36.6 37.0 1.6 41.7 Q32010 8.4 1.2 39.2 469 2.6 38.3 36.2 1.5 39.6 9M2010 7.8 1.1 36.0 469 2.5 35.8 36.5 1.6 39.6 Q22011 9.2 1.3 43.3 470 2.6 42.4 41.0 1.6 44.0

(Percent)
Q32011 10.4 1.5 49.5 481 2.6 40.1 42.1 1.7 44.2 9M2011 9.2 1.3 43.3 481 2.6 40.4 41.1 1.7 44.2

1. 2.

Based on quarterly average net worth Annualised for all interim periods

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Asset quality and provisioning

(` billion)
December 31, 2009 Gross NPAs Less: Cumulative provisions Net NPAs Net NPA ratio 90.70 46.54 44.16 2.19% September 30, 2010 102.33 70.41 31.92 1.37% December 31, 2010 102.30 73.57 28.73 1.16%

Gross retail NPLs at ` 67.14 bn and net retail NPLs at ` 14.30 bn at December 31, 2010 Net restructured loans of ` 25.62 bn at December 31, 2010 Outstanding general provision on standard assets: ` 14.80 bn at December 31, 2010 Provisioning coverage ratio of 71.8% at December 31, 2010 computed in accordance with RBI guidelines

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Overseas subsidiaries

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ICICI Bank UK asset profile

At September 30, 2010
4

At December 31, 2010

4 A sset b a c ked

A sset b a c ked sec uri ti es 1.8%

Other a ssets & i nvestments 5.6%

Ca sh & l i q ui d sec uri ti es 15.2%

sec uri ti es 1.7% Bo nd s/no tes o f fi na nc i a l i nsti tuti o ns 16.1%

Other a ssets & i nv estments 5.1%

Ca sh & l i q ui d sec uri ti es 16.5%

Bo nd s/no tes o f fi na nc i a l i nsti tuti o ns 18.1%

`
2

Ind i a l i nked i nv estments 4.7%

L o a ns & a d va nc es 54.6%

Ind i a l i nked i nvestments 4.1%

Lo a ns & 3 a d va nc es 56.5%

Total assets: USD 7.2 bn

1. 2.

Total assets: USD 7.0 bn

Includes cash & advances to banks, T Bills and CDs IndiaIncludes India-linked credit derivatives of US$ 122 mn at December 31, 2010 (US$ 121 mn at September 30, 2010) 3. Includes securities reclassified to loans & advances 4. Does not include US$ 137 mn of ABS reclassified as loans & receivable in FY2009
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ICICI Bank UK liability profile

At September 30, 2010
Synd i c ated l o a ns & i nterb ank b o rro w i ng s 8.1% Lo ng term Deb t 10.1% Other l i ab i l i ti es 5.7% Net w o rth 9.0%

At December 31, 2010

Synd i c a ted l o a ns & i nterb a nk b o rro w i ng s 8.0% L o ng term D eb t 12.0% Other l i a b i l i ti es 5.5% Net w o rth 9.3%

Dema nd d ep o si ts 16.5%

D ema nd d ep o si ts 14.4%

T erm d ep o si ts 50.6%

T erm d ep o si ts 50.8%

Total liabilities: USD 7.2 bn

Total liabilities: USD 7.0 bn

9MProfit after tax of USD 28.3 mn in 9M-2011 as compared to 9MUSD 24.8 mn in 9M-2010 Capital adequacy ratio at 21.2% (postNet MTM writeback of USD 1.9 mn (post-tax) in reserves in 9M9M-2011 Proportion of retail term deposits in total deposits at 75% at December 31, 2010
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ICICI Bank Canada asset profile

At September 30, 2010
2
1

At December 31, 2010

2 India
1

Cash & liquid se curit ie s 1 6 .4 %

India linke d inv e st me nts 2 .6 %

F e de rally insure d mort gage 3 .9 %

Cash & liquid se curitie s 1 5 .2 %

linke d inv e stme nts 2 .5 %

F e de rally insure d mortgage 6 .7 %

Othe r asse ts & inv e st me nts 7 .6 % A sse t backe d se curit ie s 1 .7 %

Othe r asse ts & inv e stme nts 7 .8 % A sse t backe d se curitie s 1 .7 %

Loans to cust ome rs 6 7 .8 %

Loans to custome rs 6 6 .1 %

Total assets: CAD 5.0 bn

1. 2.
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Total assets: CAD 4.7 bn

Includes cash & advances to banks and government securities IndiaIncludes India-linked credit derivatives of CAD 80 mn at December 31, 2010 (CAD 88 mn at September 30, 2010)

ICICI Bank Canada liability profile

At September 30, 2010
Net wo rth 19.4%

At December 31, 2010

Net wo rth 20.8%

Other l i a b i l i ti es 2.7% Bo rro wi ng s 1.5%

T erm d ep o si ts 61.5%

Other l i a b i l i ti es 2.3% Bo rro w i ng s 1.6%

T erm d ep o si ts 60.2%

Demand d ep o si ts 14.9%

D ema nd d ep o si ts 15.1%

Total liabilities: CAD 5.0 bn

Total liabilities: CAD 4.7 bn

9MProfit after tax of CAD 24.8 mn in 9M-2011 as compared 9Mto CAD 27.5 mn in 9M-2010 Capital adequacy ratio at 26.1%
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ICICI Bank Eurasia asset profile

At September 30, 2010
Oth er assets & in vestmen ts 2. 9%

At December 31, 2010

Oth er assets & in vestmen ts 1. 3%

Promissory n otes 10. 1%

C ash & cash 1 equ ivalen ts 17. 5%

Loan s to corporates & ban ks 44. 0%

C ash & cash 1 equ ivalen ts 46.0%

Loan s to corporates & ban ks 32. 7%

Retail loan s 22. 0%

Total assets: USD 274 mn

C orporate bon ds 3. 5%

Promissory n o tes 2.6%

C orporate b on ds Retail loan s 1. 7% 15. 7%

Total assets: USD 367 mn

Total borrowings of USD 242 mn at December 31, 2010 Capital adequacy of 31.8% at December 31, 2010 9MProfit after tax for 9M-2011 USD 4 mn
1.
23

Includes cash & call placements with banks, balances with central bank and nostro balances

Domestic subsidiaries

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ICICI Home Finance

At September 30, 2010
Investments 4.4% Fixed & other assets 0.5%

At December 31, 2010

Investments 4.4% Fixed & other assets 0.7%

Loans 95.1%

Loans 94.9%

Total assets: ` 101 bn

Total assets: ` 94 bn

9M9MProfit after tax of ` 1.61 bn in 9M-2011 compared to ` 0.98 bn in 9M-2010 Capital adequacy ratio of 20.1% at December 31, 2010 Net NPA ratio: 1.4% At December 31, 2010: Networth ` 13 bn; Deposits ` 26 bn and Borrowings ` 55 bn

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ICICI Life
9M-2010
New Business received premium Renewal premium Total premium Annualised premium equivalent (APE) New Business Profit (NBP) NBP margin Statutory profit/ (loss) Assets Under Management Expense ratio2
1.

(` billion) 9M-2011
46.50 66.74 113.24 30.97 5.79 18.7% 5.131 663.34 8.9%

38.33 66.74 105.07 33.29 6.33 19.0% (0.98) 536.19 10.1%

Continued market leadership in private sector3

9MnonFor 9M-2011, ICICI Life's profit after tax was ` 5.13 bn. This includes transfer of surplus in the non9Mparticipating policyholders' funds for 9M-2011 as per Insurance Regulatory & Development Authority (IRDA) circular dated December 27, 2010 Expense ratio: All expenses (excl. commission and front line sales cost) / (Total premium 90% of Single sales Premium) During April 2010 November 2010 on new business retail weighted received premium basis

2. 3.

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ICICI General
(` billion) 9M-2010
Gross premium1 PAT 25.12 1.32

9M-2011
32.50 2.10

Continued market leadership in private sector2

1. Excluding remittances from third party motor pool and including premium on reinsurance accepted 2. For the period April 2010 - December 2010
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Other subsidiaries
Profit after tax
ICICI Securities Ltd. ICICI Securities PD ICICI Venture ICICI Prudential Asset Management Company

(` billion) 9M-2010 9M-2011

0.90 0.83 0.39 1.07 0.89 0.36 0.71 0.52

Consolidated profit after tax increased by 36.0% to ` 45.25 9M9Mbn1 in 9M-2011 compared to ` 33.28 bn in 9M-2010 Q3Consolidated profit after tax for Q3-2011 at ` 20.39 bn1 9MConsolidated return on average net worth for 9M-2011 at 9M11.6% compared to 9.2% in 9M-2010

1. Includes ` 3.84 bn transfer of surplus in the policyholders non participating policyholders funds of ICICI Life, as per IRDA circular dated December 27, 2010
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Thank you

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