ICICI Bank 2013 Annual Report Download - page 51

Annual Report 2012-2013 49
During the year, we took a special initiative to recognise the contribution made by our long-serving
employees. These employees were presented with a personalised letter signed by the Managing Director
and CEO. Around 15,500 employees who have spent more than five years with the Bank were recognised
and felicitated during the year.
The Bank continues to leverage technology for offering knowledge and learning products to its employees.
This year, we launched mobile phone based performance support tools for relationship managers in the
small and medium enterprises group and in the commercial banking group. These performance support
tools help retrieve critical product/process information and assist relationship managers in customer
profiling and services while on the move. The Bank continued to offer other learning and development
platforms such as classroom training and e-learning initiatives to help upgrade employees’ knowledge
and skills. This year the Bank launched 22 new e-learning modules.
The industrial relations environment for the Bank remained cordial and conducive for achieving the
organisation’s objectives.
INFORMATION TECHNOLOGY
Technology has been central to ICICI Bank’s initiatives in enhancing the banking experience for our
customers. We have enhanced the technology platform to continuously augment functionalities in all
channels including ATMs, phone banking, internet banking and mobile banking and also strengthen
delivery capabilities and technology infrastructure. Our pioneering steps focused on understanding
customer requirements, improving customer convenience and reducing turnaround time have kept us
ahead as a technology leader in Indian banking for over a decade.
During the year, our technology strategy was aligned towards meeting the ‘Khayaal Aapka’ promise to
our customers. We introduced a range of services like 24X7 electronic branches, video-conferencing
from branches, Money2India on mobile, Tab Banking and Bank-on-the-move to enhance customer
convenience. Taking forward the philosophy of delivering value to our customers, we offered products
such as iBizz (a mobile-based processing system for corporate customers), Facebook banking, iWish (a
goal-based savings product) and tailored offerings for customers in the wealth segment. We also took
up collaborative initiatives including iSurepay (fees, premium and tax collections for third party), UID
authentication for Aadhaar-based payments and enabling corporates to pay state taxes online.
During the year we also remained focused on ensuring superior technology in conjunction with rapid
expansion in our business, technology platform and delivery capabilities. With a view to creating a robust
technology infrastructure, we undertook a number of migration projects during the course of the year
involving upgradations and relocation of critical facilities. We also ensured optimal utilisation of technology
infrastructure already deployed. Steps in this direction include leveraging the ATM channel for wider
offerings and enhancing the scope and reach of our Trade Online platform. During the year, we received
several accolades for our technology offerings. We received the “Best Technology Bank of the Year”
award in the private sector banks category by the Indian Banks’ Association and also received two awards
from the Institute for Development and Research in Banking Technology (IDRBT) for IT implementation
and for managing IT risks.
The technology landscape is undergoing significant changes driven by rapid growth in mobility, cloud
computing and big data analytics. We will continue to invest in innovations and ensure that our technology
systems evolve in line with new trends and deliver value to our customers.
KEY SUBSIDIARIES
ICICI Prudential Life Insurance Company (ICICI Life)
ICICI Life successfully maintained its leadership amongst private players in new business premium on
retail weighted basis with a market share of 7.0% in fiscal 2013. ICICI Life’s total premium for fiscal
2013 was ` 135.38 billion and new business annualised premium equivalent premium was ` 35.32
billion. ICICI Life’s unaudited new business profit in fiscal 2013 was ` 5.29 billion. The profit after tax was
` 14.96 billion in fiscal 2013 compared to ` 13.84 billion in fiscal 2012. The total sum assured by ICICI Life,