ICICI Bank 2012 Annual Report Download - page 7

Based on the above progress in our underlying
funding profile, asset quality and profitability,
we were able to achieve 26% growth in profit
after tax at the standalone level and 25% at the
consolidated level in fiscal 2012 – a year which
saw significant changes in the operating and
regulatory environment. This resilience, coupled
with our strong capital position, has enabled us
to increase the dividend to shareholders from
` 14 per share in fiscal 2011 to ` 16.50 per share
in fiscal 2012.
However, the strength of a franchise is not only
about the numbers the organisation achieves
in a year – it is also about the foundation it is
building for the future. And we have continued
to make progress in this area as well. We
have grown our branch network to over 2,750
branches and our ATM network to over 9,000
ATMs. We have leveraged technology to enhance
customer convenience and customer experience
across a range of channels including ATMs,
mobile banking and internet banking. We have
undertaken focused initiatives to improve the
quality of service delivery to our customers, in line
with our philosophy of “Khayaal Aapka” – keeping
the customer’s needs as the focal point of our
business. We continuously evaluate ourselves in
this area and seek to keep enhancing the quality
of customer experience.
Fiscal 2012 was a year which saw our subsidiaries
contributing significantly to our profits. This is
reflected in the robust growth in our consolidated
profits, as well as healthy dividend streams from
the subsidiaries to the parent Bank. A key strength
of the ICICI Group franchise is its leadership
position across various segments of financial
services in India. We continue to strengthen
this franchise. Our insurance and mutual fund
businesses are focused on enhancing their market
positioning and profitability. Our private equity
business continues to pursue new fund raising
while unlocking value from past investments.
Our securities and primary dealership businesses
are strengthening their core franchise to deliver
healthy returns amidst a rapidly evolving market
environment. Our international subsidiaries are
repositioning their businesses in the changed
global environment, with a clear path towards
improving their profitability over the medium term.
Even as we execute these strategies, we remain
conscious of our role in nation building. This
takes many forms – from the wide range of our
business activities, like infrastructure financing
and financial inclusion; to the focused efforts of
the ICICI Foundation for Inclusive Growth in the
areas of education, healthcare and sustainable
livelihoods. ICICI Foundation’s initiatives in
education include a six year programme to
improve the quality of school education in
Rajasthan, which seeks to benefit over seven
million children. In the area of health, ICICI
Foundation’s initiatives include a pilot project to
provide insurance for outpatient treatment to the
rural poor. Through such efforts, we carry forward
our ethos of being an institution that supports the
realisation of our country’s potential in a manner
that takes the benefits of growth to every Indian.
Finally, I would like to say that we are optimistic
about our country’s future and the potential
for profitable growth in banking and financial
services. There could be short-term challenges
and cyclical upturns and downturns – but our
economic fundamentals are strong and will
support robust growth over the medium to long
term. It is our endeavour at the ICICI Group to
position ourselves to catalyse and participate
in this growth, on the back of a strong and
competitive franchise. We look forward to the
continued support of all our stakeholders in
this journey.
With best wishes,
Chanda Kochhar
Annual Report 2011-2012 5