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BSE Code : 532174 | NSE Symbol : ICICIBANK | ISIN : INE090A01021 | Industry : Banks - Private Sector |


Chairman's Speech

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

   

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