ICICI Bank 2010 Annual Report Download - page 7

5Annual Report 2009-2010
our capital adequacy ratio increased from 15.5%
at March 31, 2009 to 19.4% at March 31, 2010 with
Tier I capital adequacy increasing from 11.8% at
March 31, 2009 to 14.0% at March 31, 2010. As a
result, we are currently one of the best capitalised
banks in the country, giving us the ability to pursue
accelerated growth in the coming years.
We are thus ready with a strong foundation for
growth, coinciding with the revival in growth
momentum in the Indian economy. Going forward,
we will focus on leveraging this foundation to serve
our customers better and capitalise on the diverse
opportunities arising out of the Indian market and
its global linkages. Our expanded branch network
will be a core element of our strategy for service
delivery to our customers. At the same time, we are
continuously enhancing our non-branch channels,
including internet banking and mobile banking, to
give our customers the power to use technology for
safe and convenient banking. The ICICI brand has
become synonymous with growth and innovation,
and is the only Indian brand to feature in the Brandz
list of the top 50 global brands. We will build this
brand further through a range of initiatives to broaden
and deepen our presence across the country and our
relationships with our customers.
Our insurance, asset management, securities and
private equity subsidiaries have performed very well
during the year, as a result of which we have achieved
substantial increase in our consolidated profits. Our
life insurance subsidiary has achieved accounting
profits for the first time since its inception. All these
businesses, led by outstanding teams, are well-
positioned to capitalise on the growth opportunities
in their respective market segments.
As we focus on enhancing our capabilities to
serve our corporate and retail customers across
India’s towns and cities, it is also our endeavour to
proactively reach out to rural India and to the vast
numbers of our people who do not have access to
formal financial services. We are significantly scaling
up our work in the area of financial inclusion with
the objective of empowering more and more people
to participate in economic activity. In addition to the
work we are doing as part of our regular business
activities, we are also, through the ICICI Foundation
for Inclusive Growth, seeking to make a deep
impact on the socio-economic empowerment of
the less privileged sections of our people, through
initiatives in education, health, financial inclusion
and strengthening of civil society organisations.
The coming decade is a decade of opportunity for
India and Indians. We at the ICICI Group are focused
on capitalising on the growth opportunities in the
financial services sector. We are fully energised
and committed towards playing our part in realising
the potential of India, empowering more and more
Indians to participate in the growth process and
creating value for all our stakeholders. We look
forward to your continued encouragement and
support in this endeavour.
With best wishes,
CHANDA D. KOCHHAR