ICICI Bank 2012 Annual Report Download - page 49

Annual Report 2011-2012 47
our allowance for credit and investment losses; technological changes; investment income; our ability
to market new products; cash flow projections; the outcome of any legal, tax or regulatory proceedings
in India and in other jurisdictions that we are or become a party to; the future impact of new accounting
standards; our ability to implement our dividend policy; the impact of changes in banking regulations
and other regulatory changes in India and other jurisdictions on us; the bond and loan market conditions
and availability of liquidity amongst the investor community in these markets; the nature of credit
spreads and interest spreads from time to time, including the possibility of increasing credit spreads or
interest rates; our ability to roll over short-term funding sources and our exposure to credit; and market
and liquidity risks. In addition, other factors that could cause actual results to differ materially from
those estimated by the forward-looking statements include, but are not limited to, general economic
and political conditions in India, southeast Asia and the other countries which have an impact on our
business activities or investments, political or financial instability in India or any other country, the
monetary and interest rate policies of India, inflation, deflation, unanticipated turbulence in interest
rates, changes in the value of the rupee, foreign exchange rates, equity prices or other rates or prices,
the performance of the financial markets, changes in domestic and foreign laws, regulations and taxes,
changes in competition and the pricing environment in India and changes in asset valuations.
CREDIT RATING
ICICI Bank’s credit ratings by various credit rating agencies at March 31, 2012 are given below:
Agency Rating
Moody’s Investor Service (Moody’s) Baa21
Standard & Poor’s (S&P) BBB-1
Credit Analysis & Research Limited (CARE) CAREAAA
Investment Information and Credit Rating Agency (ICRA) [ICRA]AAA
CRISIL Limited CRISIL AAA
Japan Credit Rating Agency (JCRA) BBB+1
1. Senior foreign currency debt ratings.
PUBLIC RECOGNITION
The Bank received several awards during fiscal 2012 in India and abroad including:
 “Most Trusted Private Sector Bank” and 10th in the list of “India’s Most Trusted Service Brands”, by
Brand Equity - Most Trusted Brands 2011
 “NFS Operational Excellence Award -2011” in “Best Bank- Private & Foreign Banks Category”, for
ATM network
 Only Indian brand to figure in “100 Most Valuable Global Brands Report 2011”, for the second
consecutive year, by BrandZ
 “Best Local Bank – Gold“ by Trade and Forfaiting Awards
 “Best Foreign Exchange Bank (India)” by Finance Asia
 “Overall Best Domestic Interest Rates Services (India)“, “Overall Best Credit Research & Market
Coverage for Local Currency Bonds (India)“,“Best Domestic Provider of FX Services (India)“ and
“Best Domestic FX Provider for Innovative FX Products and Structured Idea (India)“ in Asiamoney
Fixed Income Poll
 “Best Derivatives House (India) 2011” by Asset Triple A
 “Best House of the Year (India) 2011” by Asia Risk for Excellence in Risk Management
 “Winner (India) for vanilla hedging instruments in interest rate & currency products and structured
hedging instruments in interest rates and first runner-up (India) in structured hedging instruments in
currency products” by Asia Risk
 “One of top 10 local banks for wholesale banking products in Asia, excluding Japan” by Asia Risk
 “House of the Year (India)” for eighth consecutive year since 2004, by Asia Risk
 “Best Bond House (India) 2011” by IFR Asia