ICICI Bank 2008 Annual Report Download - page 38

l Wholesale Banking Group, comprising the corporate & investment banking, project finance and government
banking businesses.
l International Banking Group, comprising the Bank’s international operations, including operations in various
overseas markets as well as products and services for non-resident Indians, international trade finance,
correspondent banking and wholesale resource mobilisation.
l Global Markets Group, comprising our global client-centric treasury operations.
l Global Operations & Middle Office Groups, which are responsible for back-office operations, controls and
monitoring of our domestic and overseas operations.
l The Human Resources Management Group is responsible for the Bank’s recruitment, training, leadership
development and other personnel management functions and initiatives.
l The Technology Management Group (TMG) is responsible for enterprise-wide technology initiatives, with
dedicated technology teams serving individual business groups and managing information security and
shared infrastructure.
l The Facilities Management & Administration Group is responsible for management of corporate facilities and
administrative support functions.
l The Organisational Excellence Group is responsible for enterprise-wide quality and process improvement
initiatives.
BUSINESS REVIEW
During fiscal 2008, the Bank continued to grow and diversify its asset base and revenue streams by leveraging the
growth platforms created over the past few years. We maintained our leadership position in retail credit, achieved
robust growth in our fee income from both corporate and retail businesses, strengthened our deposit franchise
and significantly scaled up our corporate and international banking operations.
Retail Banking
We were among the first banks to identify the growth potential of retail credit in India. Between 2003 and 2006
the banking system as a whole saw significant expansion of retail credit, with retail loans accounting for a major
part of overall systemic credit growth. However, due to the increase in interest rates following inflationary
pressures, retail credit growth in the banking system has moderated from about 30% over the last few years to
about 10–15% currently. We continue to believe that retail credit has robust long-term growth potential, driven
by sound fundamentals, namely, rising income levels and favourable demographic profile. At the same time, the
retail credit business requires a high level of credit and analytical skills and strong operations processes backed by
technology. Our retail strategy is centred around a wide distribution network, comprising our branches and offices,
direct marketing agents and dealer and real estate developer relationships; a comprehensive and competitive
product suite; technology-enabled back-office processes; and a robust credit and analytical framework.
We are the largest provider of retail credit in India. Our total retail portfolio was Rs. 1,316.63 billion at March 31,
2008, constituting 58% of our total loans at that date.
During fiscal 2008, we continued our focus on strengthening our retail deposit franchise to create a stable funding
base. Our current and savings account (CASA) deposits as a percentage of total deposits increased from 22% at
March 31, 2007 to 26% at March 31, 2008, with savings account deposits increasing by 36% during fiscal 2008.
During the year, we have expanded our branch network substantially. At March 31, 2008, we had 1,262 branches
& extension counters compared to 755 branches & extension counters at March 31, 2007, including the addition
of about 200 branches through the merger of Sangli Bank. Our branch network has further increased to 1,367
as of May 31, 2008. We continued to expand our electronic channels, namely internet banking, mobile banking,
call centres, point of sale terminals and ATMs, and migrate customer transaction volumes to these channels.
We increased our ATM network to 3,881 ATMs at March 31, 2008 from 3,271 ATMs at March 31, 2007. Our call
centres have a total seating capacity of approximately 6,375 sales and service workstations. Transaction volumes
on internet and mobile banking have grown significantly, constituting an increasing percentage of total customer
transactions. During the year, we launched a mobile banking service enabling a wide range of banking transactions
using the mobile phone.
Business Overview
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