Dear shareholders,
It is a pleasure to address you for the first time as the Chairman of the Board. ICICI
Bank is one of the leading financial institutions in India and serving as its chairman is
a rewarding experience. I take this opportunity to acknowledge the invaluable contribution
of my predecessor Mr. Girish Chandra Chaturvedi who served as Chairman of the Board from
2018 to 2024.
The Indian economy has demonstrated resilience in the face of global volatility. The
effect of policy measures over several years, sustained investment in infrastructure,
focus on fiscal prudence, timely regulatory initiatives and strong corporate and bank
balance sheets are important factors that help navigate global economic uncertainties.
Growing capital markets indicate the continuing investment opportunity provided by India's
entrepreneurs. The recent monetary easing measures, supported by a benign inflation
environment, are aimed at supporting demand. At the same time, a rapidly shifting global
environment and the possibility of external shocks require close monitoring.
Fiscal 2025 underscores another year of steady advancement for ICICI Bank's franchise.
The Bank maintained healthy performance marked by improved profitability, a resilient
balance sheet and stable capital levels. The risk-calibrated business growth was achieved
through the focus on ecosystems and micromarkets, by deepening market coverage while
ensuring discipline in credit and profitability across business segments. Our risk
management frameworks and approach of onboarding quality counterparties are oriented
towards building a sustainable growth model with focus on ‘Return of Capital'. As we
strive for sustainable progress, a constant emphasis is also maintained on having a
stable, granular and low-cost funding profile. The Bank is positive about the Indian
economy's long-term potential and aims to harness emerging trends and opportunities while
leveraging its strengths to grow its share of the market opportunity.
A 360? customer-centric mindset coupled with adherence to our values, defines our
dealings with customers as we serve the customer holistically. ‘Fair to Customer,
Fair to Bank' seeks to strengthen our longterm relationship with customers, while
‘One Bank, One Team' focusses on structurally aligning teams to enhance
Customer-360? propositions. Leveraging data analytics, digital public infrastructure and
digital capabilities continues to enhance our delivery systems and simplify processes to
drive a seamless customer experience. The Bank is making significant investments in
computing infrastructure and cyber security capabilities, with a steadfast focus on
maintaining operational resilience and integrity.
Embedding responsibility and sustainability in all aspects of business and operations
have been yielding positive results for the Bank. The Bank continued to make progress on
environmental, social and governance (ESG) factors in fiscal 2025, with expansion and
deepening of sustainability goals and actions. The Bank has set a target of carbon
neutrality in Scope 1 and Scope 2 emissions across our operations by fiscal 2032. Building
competencies to understand risks emerging from climate change and supporting the
opportunities in sustainability journeys of our borrowers is an ongoing area of focus. We
continue to work on measuring and managing the impact of the Bank's business and
operations on the environment and society.
The Bank has had a long tradition of philanthropic initiatives. The Bank's initiatives
are undertaken within the framework of the statutory provisions on corporate social
responsibility. The Board, the Corporate Social Responsibility Committee and the
management exercise oversight over the corporate social responsibility projects, which are
undertaken primarily through ICICI Foundation for Inclusive Growth. A milestone was
achieved with the laying of the foundation stone for setting up a cancer care facility at
Visakhapatnam in Andhra Pradesh. This is part of the commitment of '18.00 billion to set
up three greenfield facilities for cancer care under CSR. The thematic focus areas for CSR
are healthcare, environment and ecology, livelihoods and community development. With
sizeable annual spends, close attention is paid to the choice of projects and partners,
project execution and assessment of impact.
The Board is dedicated to maintain excellence in corporate governance, anchored by an
effective compliance and risk management culture, to always foster trust and confidence in
the Bank. The Board composition features distinguished professionals with diverse
expertise and experience across domains, enabling the Board to effectively respond to
evolving operating environment. The Board continuously endeavours to strengthen its
frameworks, policies and processes, contributing to effective oversight through various
Committees. The Board prioritises integrity, fairness and transparency in all its
engagement with stakeholders. The Board and management team acknowledge the enormous trust
placed in us to act responsibly.
The Indian economy outlook has excellent long-term potential driven by its
macroeconomic fundamentals, demographic profile, increasing spread of financial services
and growing digital penetration providing a strong foundation for future growth. India's
well established regulatory frameworks coupled with ongoing structural reforms continue to
support long-term economic stability. The Bank seeks to pursue opportunities by serving
customers holistically and seamlessly within the framework of its values. The Bank's
long-standing presence, widespread network and brand support the execution of its
strategy. 2025 marks 70 years of the foundation of ICICI, and through this journey, the
institution has demonstrated time and again its ability to adapt and serve emerging needs
and opportunities in the country. We look forward to continuing this journey and driving
sustainable value creation for all our stakeholders.
With best wishes,
Pradeep Kumar Sinha
Chairman