ICICI Bank 2008 Annual Report Download - page 46

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March 31, 2007 to US$ 8,829 million at March 31, 2008 while total deposits grew by 84.2% from US$ 2,812 million
at March 31, 2007 to US$ 5,180 million at March 31, 2008. ICICI Bank UK’s profit after tax was US$ 38.4 million
during fiscal 2008 after taking into account investment valuation charges.
ICICI Bank Canada
ICICI Bank Canada is a full-service direct bank established in Canada as a wholly-owned subsidiary of
ICICI Bank, and offers a wide range of financial solutions to cater to personal, commercial, corporate, investment,
treasury and trade requirements. ICICI Bank Canada’s total assets increased by 92.3% from US$ 2,002 million at
March 31, 2007 to US$ 3,849 million at March 31, 2008. Total deposits increased by 77.7% from US$ 1,796 million
at March 31, 2007 to US$ 3,191 million at March 31, 2008. ICICI Bank Canada recorded a net loss of US$ 14.3
million during fiscal 2008, after taking into account investment valuation charges.
CREDIT RATINGS
ICICI Bank’s credit ratings by various credit rating agencies at March 31, 2008 are given below:
Agency Rating
Moody’s Investor Service (Moody’s) Baa21
Standard & Poor’s (S&P) BBB-1
Credit Analysis & Research Limited (CARE) CARE AAA
Investment Information and Credit Rating Agency (ICRA) AAA
CRISIL Limited AAA
Japan Credit Rating Agency (JCRA) BBB+
1. Senior foreign currency debt ratings.
PUBLIC RECOGNITION
The Bank received several awards during fiscal 2008, including the following:
l ”Best Bank in Asia” by Euromoney
l ”Best Bank in India” by Euromoney
l ”Fabulous 50 companies in Asia” by Forbes Asia
l ”Best Domestic Bank in India” by Asset Triple A
l ”Best Bank of the Year (India)” by The Banker
l ”Best Private Sector Bank” by Outlook Money NDTV Profit Awards 2007
l ”Asia’s Best Financial Borrower 2007“ by Euromoney
l ”Excellence in Remittance Business“ by Asian Banker
l ”Most Preferred Brand” for home loans, auto loans, credit cards and financial advisory services by CNBC
Awaaz
l ”Innovative Technology Award” by CIO
l ”Best Regional Private Bank” by The Banker
l ”Excellence in Financial Reporting” by Institute of Chartered Accountants of India (ICAI)
Business Overview
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