ICICI Bank 2003 Annual Report Download - page 21

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19
Business Overview
Reserve Bank of India (RBI) relief bonds, and insurance products, with market leadership in
these areas. This model also allows us to meet all customer needs by offering the customer
the complete basket of financial products, while leveraging our distribution capability to earn
fee income from third parties. ICICIdirect (www.icicidirect.com) is the market leader in Internet-
based share trading, with complete end-to-end integration for seamless electronic trading on
stock exchanges. ICICIdirect has a rating of “TxA1” from CRISIL, indicating highest ability to
service broking transactions. During the year, ICICIdirect launched online trading in the
derivatives segment of the NSE.
Corporate Banking
ICICI Bank seeks to provide innovative financial solutions to its corporate clients, tailored to
meet their requirements, while diversifying its revenue streams and generating adequate
return on risk capital through risk-based pricing models and proactive portfolio management.
Our focus in fiscal 2003 was on technology-driven enhancement of delivery capabilities to
offer improved service levels to clients. We set up centralized processing facilities for back-
office operations where technology is leveraged to benefit from economies of scale arising
out of large transaction volumes. During the year we continued to expand the scope of our
web-based services. ICICI Bank provides corporate Internet banking services through
ICICIebusiness.com, a single point web-based interface for all our corporate products. The
portal enables clients to conduct their banking business with ICICI Bank through the Internet
in a secure environment. ICICI Bank offers online foreign exchange and debt securities
trading services. A dedicated Product & Technology Group develops and manages back-office
processing and delivery systems.
Dedicated relationship groups for corporate clients and the Government sector focused on
expanding the range and depth of our relationships in these sectors. In the corporate segment,
we focused on leveraging our relationships to expand the range of products and services to
channel finance, transaction banking and non-fund based products. ICICI Bank has strong
relationships with several large public sector companies and state governments and we are
leveraging these relationships to expand the range of transaction banking services. ICICI
Bank has already been empanelled for collection of sales tax in eight states.
We continued to focus on corporate lending transactions including working capital finance
to highly rated corporates, structured transactions and channel financing. We also focused
on leveraging our skills in originating and structuring transactions as well as on our ability to
We have created a
comprehensive corporate
portfolio that enables us to
partner our customers’ progress
every step of the way.
We are constantly endeavouring
to reinforce our competence of
providing complete fulfilment
solutions to corporates and
governments.
Nachiket Mor
Executive Director