ICICI Bank 2007 Annual Report Download - page 42

Business Overview
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Liquidity Ratio (SLR) book due to robust balance sheet growth, the balance sheet management function
continued to actively manage the government securities portfolio held for compliance with SLR norms
to optimize the yield on this portfolio, while maintaining an appropriate portfolio duration given the
volatile interest rate environment. The focus of our proprietary trading operations was to maximise
profits from positions across key markets including corporate bonds, government securities, interest
rate swap, equity and foreign exchange markets. While the adverse fixed income market conditions had
an adverse impact on fixed income proprietary trading operations, the Bank continued to capitalise on
opportunities in the equity markets, realising gains on its equity portfolio.
In line with the international expansion of the bank, treasury functions have been set up in Hong Kong,
Sri Lanka, Bahrain, Singapore and the Offshore Banking Unit in Mumbai to support the operations of
these branches.
HUMAN RESOURCES
ICICI Bank believes that its 33,321 employees are the greatest driver of its growth and development.
During fiscal 2007, we began a unique initiative of industry-academia partnership. We have collaborated
with NIIT to set up the Institute of Finance, Banking & Insurance to provide skilled resources to the
financial services industry at the entry level. We have worked with leading management institutes in
the country on curriculum design, training of faculty and design of case studies and provided teaching
aids. These initiatives are aimed at complementing the existing course structure and providing a deeper
insight into contemporary issues of the fast developing financial services sector. Through this, we strive
to build awareness and inculcate an appreciation of the work requirement in the financial services
industry. We believe that this will go a long way in creating a readily available pool of trained resources
for the financial services sector.
ICICI Bank’s performance and aspirations are underpinned by a strong organisational culture of dynamism,
meritocracy, excellence in execution and high standards of professional integrity, that have helped us
become an industry leader. During fiscal 2007, our cultural anchors have evolved and strengthened to
uphold the ethos of our organization. Our core DNA anchors that were defined in the last year have been
further articulated and aligned to our objectives. To sustain our competitive advantage in a complex and
competitive business environment, we have taken initiatives to personify the DNA anchors in leaders
who exemplify and embody these leadership behaviours.
The annual employee survey conducted this year facilitated employee engagement by giving employees
a channel to share their views and opinions on various aspects of the organization culture. It also gave
us an insight into our alignment drivers of task support and employee development. The inputs from
this study and feedback received through other mediums of employee engagement have been a key
contributor in bringing about an alignment of our culture with changing trends.
Our leadership development program builds leadership talent within the organisation. The program
attempts to tap into the potential of employees and develop them into global leaders. The leadership
development program has been developed in house with inputs from various experts. The Bank plans to
use this program to develop thought leaders througout the organisation to participate in policy making,
employee communication and perspective building.
INFORMATION TECHNOLOGY
ICICI Bank continues to deploy technology for use in banking. Innovative approaches have helped shape
end-to-end solutions that provide customers with secure access to services at multiple locations. With
automation of processes across the supply-chain, we have developed the concept of technology-led
delivery. By introducing low-cost customer touch points in unbanked areas, we have initiated the process
of financial inclusion through appropriate use of technology.
We have strengthened our channel mix by leveraging technology for branch, internet, mobile, ATM,
point of sale, call centre, interactive voice response and assisted banking. At year-end fiscal 2007, our