ICICI Bank 2006 Annual Report Download - page 11

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10
Reserve Bank of India (RBI) vide its letter dated
January 23, 2006 has approved the re-appointment
of the following wholetime Directors of the Bank:
• Re-appointment of K.V. Kamath, Managing
Director & CEO from May 1, 2006, till April 30,
2009.
• Re-appointment of Kalpana Morparia from
May 1, 2006, till May 31, 2007.
• Re-appointment of Chanda D. Kochhar and
Nachiket Mor from April 1, 2006, till March 31,
2009.
The Board of Directors at its Meeting held on
April 29, 2006, elevated Kalpana Morparia as Joint
Managing Director and Chanda D. Kochhar and
Nachiket Mor as Deputy Managing Directors.
In terms of the provisions of the Companies Act,
1956 and the Articles of Association of the Bank,
L. N. Mittal, P. M. Sinha, V. Prem Watsa and Lalita
D. Gupte would retire by rotation at the
forthcoming AGM and, being eligible, offer
themselves for re-appointment.
AUDITORS
S. R. Batliboi & Co., Chartered Accountants, will retire at the forthcoming AGM. They have been statutory
auditors of the Bank for the last four years, which is the maximum term of appointment of auditors permitted
by RBI. The Audit Committee of the Board and the Board of Directors have placed on record their sincere
appreciation of the professional service rendered by S. R. Batliboi & Co., as statutory auditors.
As recommended by the Audit Committee, the Board has proposed the appointment of BSR & Co.,
Chartered Accountants as statutory auditors for fiscal 2007. You are requested to consider their
appointment. Their appointment has been approved by RBI.
Directors’ Report
Kalpana Morparia Joint Managing Director
“A key enabler of our growth and market
leadership across businesses has been our young,
energetic, talented and diverse employee base.
Our growth has been driven by the continued
support of a wide range of shareholders in India
and overseas. We continue to attract the financial
capital and human talent necessary to leverage
the opportunities before us.”
Microfinance
ICICI Bank assists over 2.5 million low
income clients to build livelihoods by
partnering with over 100 microfinance
institutions.
Rural Banking
ICICI Bank offers technology-based solutions,
financial innovations and multiple delivery
channels to meet the financial needs of rural
India.
Credit Cards
ICICI Bank offers a wide range of power packed
credit cards to suit different consumer needs and
helps millions of Indians live life to the fullest.
Attractive offers and exclusive benefits mark the
advantages of ICICI Bank credit cards.
Providing customised products and services for all