ICICI Bank 2009 Annual Report Download - page 14

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12
Believing that every dream
deserves to be nurtured.
Through access to credit, ICICI Bank strives
to fulfill the housing dreams of our nation’s
prospering populace.
“While our structured
leadership development
process has enabled
us to create a strong
pool of leadership for
all businesses and
functions, our innovative
probationary officers
programme has ensured
the availability of trained
young talent to support
our growth needs.”
K. Ramkumar
Executive Director
Directors’ Report
I. Philosophy of Corporate Governance
ICICI Bank’s corporate governance philosophy encompasses not only regulatory
and legal requirements, such as the terms of listing agreements with stock
exchanges, but also several voluntary practices aimed at a high level of business
ethics, effective supervision and enhancement of value for all stakeholders.
Whistle Blower Policy
ICICI Bank has formulated a Whistle Blower Policy for the ICICI Group. In terms
of this policy, employees of ICICI Bank and its group companies are free to raise
issues, if any, on breach of any law, statute or regulation by the Bank and on the
accounting policies and procedures adopted for any area or item and report them
to the Audit Committee through specified channels. This mechanism has been
communicated and posted on the Bank’s intranet.
ICICI Bank Code of Conduct for Prevention of Insider Trading
In accordance with the requirements of Securities and Exchange Board of India
(SEBI) (Prohibition of Insider Trading) Regulations, 1992, ICICI Bank has instituted
a comprehensive code of conduct for prevention of insider trading.
Group Code of Business Conduct and Ethics
The Board of Directors has approved a Group Code of Business Conduct
and Ethics for Directors and employees of the ICICI Group. The Code aims at
ensuring consistent standards of conduct and ethical business practices across
the constituents of the ICICI Group. This Code is also available on the website
of the Bank www.icicibank.com. In terms of Clause 49 of the Listing Agreement,
a confirmation from the Managing Director & CEO regarding compliance with
the Code by all the Directors and senior management is given on page 28 of the
Annual Report.
CEO/CFO Certification
In terms of Clause 49 of the Listing Agreement, the certification by the Managing
Director & CEO and Joint Managing Director & Chief Financial Officer on the
financial statements and internal controls relating to financial reporting has been
obtained.
Board of Directors
ICICI Bank has a broad-based Board of Directors, constituted in compliance with
the Banking Regulation Act, 1949, Companies Act, 1956 and listing agreements