ICICI Bank Announces Performance Review – Quarter Ended September 30, 2012

  ICICI Bank Announces Performance Review – Quarter Ended September 30, 2012

  *30% year-on-year increase in standalone profit after tax to Rs 1,956 crore
    (US$ 370 million) for the quarter ended September 30, 2012 (Q2-2013) from
    Rs 1,503 crore (US$ 284 million) for the quarter ended September 30, 2011
    (Q2-2012)
  *Consolidated return on equity (annualised) of 14.8% in Q2-2013
  *Net interest margin maintained at 3.00% for the third consecutive quarter
  *18% year-on-year increase in advances to Rs 275,076 crore (US$ 52.0
    billion) at September 30, 2012
  *Net non-performing asset ratio at 0.66% at September 30, 2012 compared to
    0.80% at September 30, 2011
  *20% year-on-year increase in consolidated profit after tax to Rs 2,390
    crore (US$ 452 million) for Q2-2013 from Rs 1,992 crore (US$ 377 million)
    for Q2-2012
  *Strong capital adequacy ratio of 18.28% and Tier-1 capital adequacy of
    12.83%

Business Wire

MUMBAI, India -- October 26, 2012

The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held
at Mumbai today, approved the audited accounts of the Bank for the quarter
ended September 30, 2012.

Profit & loss account

  *Standalone profit before tax increased 32% to Rs 2,685 crore (US$ 508
    million) for the quarter ended September 30, 2012 (Q2-2013) from Rs 2,035
    crore (US$ 385 million) for the quarter ended September 30, 2011
    (Q2-2012).
  *Standalone profit after tax increased 30% to Rs 1,956 crore (US$ 370
    million) for Q2-2013 from Rs 1,503 crore (US$ 284 million) for Q2-2012.
  *Net interest income increased 35% to Rs 3,371 crore (US$ 638 million) in
    Q2-2013 from Rs 2,506 crore (US$ 474 million) in Q2-2012.
  *Net interest margin improved to 3.00% for Q2-2013 from 2.61% for Q2-2012.
  *Non-interest income increased by 17% to Rs 2,043 crore (US$ 387 million)
    in Q2-2013 from Rs 1,740 crore (US$ 329 million) in Q2-2012.
  *Cost-to-income ratio reduced to 40.9% in Q2-2013 from 44.4% in Q2-2012.
  *Provisions were at Rs 508 crore (US$ 96 million) in Q2-2013 compared to Rs
    319 crore (US$ 60 million) in Q2-2012 and Rs 466 crore (US$ 88 million) in
    Q1-2013.
  *Return on average assets (annualised) was 1.59% in Q2-2013 compared to
    1.41% in Q2-2012.

Operating review

The Bank has continued with its strategy of pursuing profitable growth. The
Bank has grown its retail lending volumes, resulting in an improvement in
retail loan portfolio growth. The Bank continued to leverage its strong
corporate franchise, its international presence and its branch network in
India. At September 30, 2012, the Bank had 2,772 branches, the largest branch
network among private sector banks in the country. The Bank has also increased
its ATM network to 10,006 ATMs at September 30, 2012 as compared to 6,913 at
September 30, 2011.

Credit growth

Advances increased by 18% year-on-year to Rs 275,076 crore (US$ 52.0 billion)
at September 30, 2012 from Rs 233,952 crore (US$ 44.3 billion) at September
30, 2011. The year-on-year growth in retail advances was 14.0% at September
30, 2012 compared to a year-on-year growth of 10.3% at June 30, 2012.

Deposit growth

At September 30, 2012, savings account deposits increased by 15% year-on-year
to Rs 80,618 crore (US$ 15.3 billion). Current account deposits were Rs 33,800
crore (US$ 6.4 billion) at September 30, 2012. The CASA ratio was at 40.7% at
September 30, 2012. The average CASA ratio was at 37.5% for Q2-2013.

Capital adequacy

The Bank’s capital adequacy at September 30, 2012 as per Reserve Bank of
India’s guidelines on Basel II norms was 18.28% and Tier-1 capital adequacy
was 12.83%, well above RBI’s requirement of total capital adequacy of 9.0% and
Tier-1 capital adequacy of 6.0%.

Asset quality

Net non-performing assets at September 30, 2012 were Rs 2,138 crore (US$ 405
million) compared to Rs 1,941 crore (US$ 367 million) at June 30, 2012 and Rs
2,236 crore (US$ 423 million) at September 30, 2011. The Bank’s net
non-performing asset ratio was 0.66% at September 30, 2012 compared to 0.61%
at June 30, 2012 and 0.80% at September 30, 2011. The Bank’s provision
coverage ratio computed in accordance with the RBI guidelines was 78.7% at
September 30, 2012. Net restructured assets at September 30, 2012 were Rs
4,158 crore (US$ 787 million) compared to Rs 4,172 crore (US$ 789 million) at
June 30, 2012.

Consolidated profits

Consolidated profit after tax increased 20% to Rs 2,390 crore (US$ 452
million) for Q2-2013 from Rs 1,992 crore (US$ 377 million) for Q2-2012. The
consolidated return on equity (annualised) improved from 13.7% in Q2-2012 to
14.8% in Q2-2013.

Insurance subsidiaries

ICICI Prudential Life Insurance Company (ICICI Life) was the largest private
sector life insurer based on new business retail weighted received premium
during April-August 2012. ICICI Life’s profit after tax for Q2-2013 was Rs 396
crore (US$ 75 million) compared to Rs 350 crore (US$ 66 million) for Q2-2012.
ICICI Life’s annualised premium equivalent (APE) increased by 14% to Rs 1,351
crore (US$ 256 million) in H1-2013 from Rs 1,180 crore (US$ 223 million) in
H1-2012. The assets under management at September 30, 2012 were Rs 73,521
crore (US$ 13.9 billion).

ICICI Lombard General Insurance Company (ICICI General) maintained its
leadership in the private sector during Q2-2013. The gross premium income of
ICICI General increased by 16% to Rs 1,517 crore (US$ 287 million) in Q2-2013
from Rs 1,306 crore (US$ 247 million) in Q2-2012. ICICI General’s profit after
tax for Q2-2013 was Rs 101 crore (US$ 19 million) compared to Rs 56 crore (US$
11 million) for Q2-2012.

Summary Profit and Loss Statement (as per unconsolidated Indian GAAP accounts)
Rs crore

              FY2012    Q1-2012  Q2-2012  H1-2012  Q1-2013  Q2-2013  H1-2013
Net interest   10,734   2,411   2,506   4,917   3,193   3,371    6,564
income
Non-interest   7,502    1,643   1,740   3,383   1,880   2,043    3,923
income
- Fee income   6,707    1,578   1,700   3,278   1,647   1,709    3,356
- Lease and    808      90      120     210     254     162      416
other income
- Treasury     (13    )  (25   )  (80   )  (105  )  (21   )  172      151
income
Less:                                                           
Operating      7,850    1,820   1,892   3,712   2,124   2,221    4,344
expense^1
Operating      10,386   2,234   2,354   4,588   2,949   3,193    6,143
profit
Less:          1,583    454     319     773     466     508      974
Provisions
Profit         8,803    1,780   2,035   3,815   2,483   2,685    5,169
before tax
Less: Tax      2,338    448     532     980     668     729      1,398
Profit after   6,465    1,332   1,503   2,835   1,815   1,956    3,771
tax

1.Includes commissions paid to direct marketing agents (DMAs) for
    origination of retail loans and lease depreciation.
2.Prior period figures have been regrouped/re-arranged where necessary.

Summary Balance Sheet
Rs crore

                       At
                         September      March 31,     June 30,      September
                        30,          2012        2012        30,
                         2011                                       2012
                       (Audited)    (Audited)   (Audited)   (Audited)
Capital and                                              
Liabilities
Capital                1,153        1,153       1,153       1,153
Employee stock         1            2           3           3
options outstanding
Reserves and surplus   57,448       59,250      61,868      63,306
Deposits               245,092      255,500     267,794     281,438
Borrowings (includes   121,324      140,165     137,207     135,390
subordinated debt)^1
Other liabilities      15,707       17,577      15,469      15,765
Total Capital and      440,725      473,647     483,494     497,055
Liabilities
                                                        
Assets                                                   
Cash and balances
with Reserve Bank of   23,302       20,461      17,951      21,175
India
Balances with banks
and money at call      12,877       15,768      18,325      21,247
and short notice
Investments            147,685      159,560     155,132     157,914
Advances               233,952      253,728     268,430     275,076
Fixed assets           4,696        4,615       4,668       4,621
Other assets           18,213       19,515      18,988      17,022
Total Assets           440,725      473,647     483,494     497,055

1.Borrowings include preference share capital of Rs 350 crore.

All financial and other information in this press release, other than
financial and other information for specific subsidiaries where specifically
mentioned, is on an unconsolidated basis for ICICI Bank Limited only unless
specifically stated to be on a consolidated basis for ICICI Bank Limited and
its subsidiaries. Please also refer to the statement of audited
unconsolidated, consolidated and segmental results required by Indian
regulations that has, along with this release, been filed with the stock
exchanges in India where ICICI Bank’s equity shares are listed and with the
New York Stock Exchange and the US Securities Exchange Commission, and is
available on our website www.icicibank.com.

Except for the historical information contained herein, statements in this
release which contain words or phrases such as 'will,' ‘expected to,’ etc.,
and similar expressions or variations of such expressions may constitute
'forward-looking statements.' These forward-looking statements involve a
number of risks, uncertainties and other factors that could cause actual
results, opportunities and growth potential to differ materially from those
suggested by the forward-looking statements. These risks and uncertainties
include, but are not limited to, the actual growth in demand for banking and
other financial products and services in the countries that we operate or
where a material number of our customers reside, our ability to successfully
implement our strategy, including our use of the Internet and other
technology, our rural expansion, our exploration of merger and acquisition
opportunities, our ability to integrate recent or future mergers or
acquisitions into our operations and manage the risks associated with such
acquisitions to achieve our strategic and financial objectives, our ability to
manage the increased complexity of the risks we face following our rapid
international growth, future levels of impaired loans, our growth and
expansion in domestic and overseas markets, the adequacy of 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 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 or level of credit
spreads, interest spreads from time to time, including the possibility of
increasing credit spreads or interest rates, our ability to roll over our
short-term funding sources and our exposure to credit, market and liquidity
risks as well as other risks that are detailed in the reports filed by us with
the United States Securities and Exchange Commission. ICICI Bank undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date thereof.

This release does not constitute an offer of securities.

For further press queries please call Sujit Ganguli at 91-22-2653 8525 or
email ganguli.sujit@icicibank.com.

For investor queries please call Rakesh Mookim at 91-22-2653 6114 or email
ir@icicibank.com.

1 crore = 10.0 million
US$ amounts represent convenience translations at US$1= Rs 52.86

UNCONSOLIDATED FINANCIAL RESULTS
(Rs in crore)

                         Three months ended                                   Six months ended                   Year ended
Sr.   Particulars          September 30,    June 30,         September 30,    September 30,    September 30,    March 31,
No.                        2012              2012              2011              2012              2011              2012
                         (Audited)        (Audited)        (Unaudited)      (Audited)        (Audited)        (Audited)
     Interest earned     10,026.33       9,545.65        8,157.62        19,571.98       15,776.14       33,542.65     
      (a)+(b)+(c)+(d)
      a)
     Interest/discount   6,848.79        6,455.83        5,380.74        13,304.62       10,315.87       22,129.89     
      on advances/bills
     b) Income on        2,744.54        2,701.91        2,344.98        5,446.45        4,596.01        9,684.02      
1.    investments
      c) Interest on
      balances with
     Reserve Bank of     148.83          123.61          115.27          272.44          229.10          491.14        
      India and other
      inter-bank funds
     d) Others           284.17          264.30          316.63          548.47          635.16          1,237.60      
2.   Other income        2,042.97        1,879.92        1,739.55        3,922.89        3,382.44        7,502.76      
3.   TOTAL INCOME        12,069.30       11,425.57       9,897.17        23,494.87       19,158.58       41,045.41     
      (1)+(2)
4.   Interest expended   6,655.10        6,352.71        5,651.18        13,007.81       10,858.78       22,808.50     
     Operating expenses  2,220.90        2,123.53        1,892.24        4,344.43        3,712.02        7,850.44      
      (e)+(f)
5.   e) Employee cost    965.88          987.03          842.70          1,952.91        1,575.55        3,515.28      
     f) Other operating  1,255.02        1,136.50        1,049.54        2,391.52        2,136.47        4,335.16      
      expenses
      TOTAL EXPENDITURE
      (4)+(5)
6.                       8,876.00        8,476.24        7,543.42        17,352.24       14,570.80       30,658.94     
      (excluding
      provisions and
      contingencies)
      OPERATING PROFIT
      (3)–(6)
7.                       3,193.30        2,949.33        2,353.75        6,142.63        4,587.78        10,386.47     
      (Profit before
      provisions and
      contingencies)
      Provisions (other
8.   than tax) and       507.92          465.87          318.79          973.79          772.65          1,583.04      
      contingencies
9.   Exceptional items   ..               ..               ..               ..               ..               ..
      PROFIT/(LOSS) FROM
10.  ORDINARY            2,685.38        2,483.46        2,034.96        5,168.84        3,815.13        8,803.43      
      ACTIVITIES BEFORE
      TAX (7)–(8)–(9)
     Tax expense         729.27          668.41          531.77          1,397.68        979.74          2,338.17      
      (g)+(h)
11.  g) Current period   679.36          736.54          544.48          1,415.90        1,071.51        2,193.52      
      tax
     h) Deferred tax     49.91           (68.13        )  (12.71        )  (18.22        )  (91.77        )  144.65        
      adjustment
      NET PROFIT/(LOSS)
12.  FROM ORDINARY       1,956.11        1,815.05        1,503.19        3,771.16        2,835.39        6,465.26      
      ACTIVITIES AFTER
      TAX (10)–(11)
      Extraordinary
13.  items (net of tax   ..               ..               ..               ..               ..               ..
      expense)
      NET PROFIT/(LOSS)
14.  FOR THE PERIOD      1,956.11        1,815.05        1,503.19        3,771.16        2,835.39        6,465.26      
      (12)–(13)
      Paid-up equity
15.  share capital       1,153.08        1,152.93        1,152.47        1,153.08        1,152.47        1,152.77      
      (face value Rs
      10/- each)
      Reserves excluding
16.  revaluation         63,305.63       61,867.68       57,448.45       63,305.63       57,448.45       59,250.09     
      reserves
      Analytical ratios                                                                                   
      i) Percentage of
      shares held by      0.01            0.01            ..               0.01            ..               ..
      Government of
      India
      ii) Capital         18.28         %  18.54         %  18.99         %  18.28         %  18.99         %  18.52         %
      adequacy ratio
      iii) Earnings per                                                                                   
      share (EPS)
      a) Basic EPS
      before and after
      extraordinary
17.   items, net of tax   16.97           15.74           13.05           32.71           24.61           56.11         
      expense (not
      annualised for
      three months/six
      months) (in Rs)
      b) Diluted EPS
      before and after
      extraordinary
     items, net of tax   16.91           15.71           13.00           32.62           24.51           55.95         
      expense (not
      annualised for
      three months/six
      months) (in Rs)
      NPA Ratio^1                                                                                         
      i) Gross
      non-performing      10,036.37       9,816.63        10,021.25       10,036.37       10,021.25       9,475.33      
      advances(net of
      write-off)
      ii) Net
      non-performing      2,134.07        1,904.99        2,183.77        2,134.07        2,183.77        1,860.84      
      advances
18.   iii) % of gross
      non-performing
      advances(net of     3.54          %  3.54          %  4.14          %  3.54          %  4.14          %  3.62          %
      write-off) to
      gross advances
      iv) % of net
     non-performing      0.78          %  0.71          %  0.93          %  0.78          %  0.93          %  0.73          %
      advances to net
      advances
19.  Return on assets    1.59          %  1.57          %  1.41          %  1.58          %  1.36          %  1.50          %
      (annualised)
      Public                                                                                              
      shareholding
20.   i) No. of shares    1,153,027,642   1,152,874,294   1,152,412,079   1,153,027,642   1,152,412,079   1,152,714,442 
     ii) Percentage of   100             100             100             100             100             100           
      shareholding
      Promoter and
      promoter group                                                                                      
      shareholding
      i)                                                                                                  
      Pledged/encumbered
      a) No. of shares    ..               ..               ..               ..               ..               ..
      b) Percentage of
      shares (as a % of
      the total           ..               ..               ..               ..               ..               ..
      shareholding of
      promoter and
      promoter group)
      c) Percentage of
      shares (as a % of
21.   the total share     ..               ..               ..               ..               ..               ..
      capital of the
      Bank)
      ii) Non-encumbered                                                                                  
      a) No. of shares    ..               ..               ..               ..               ..               ..
      b) Percentage of
      shares (as a % of
      the total           ..               ..               ..               ..               ..               ..
      shareholding of
      promoter and
      promoter group)
      c) Percentage of
      shares (as a % of
     the total share     ..               ..               ..               ..               ..               ..
      capital of the
      Bank)
                                                                                               

1.At September 30, 2012, the percentage of gross non-performing customer
    assets to gross customer assets was 3.03% and net non-performing customer
    assets to net customer assets was 0.66%. Customer assets include advances
    and credit substitutes.

SUMMARISED UNCONSOLIDATED BALANCE SHEET
(Rs in crore)
                   At
                     September       June 30,       March 31,      September
Particulars          30,           2012         2012         30,
                     2012                                          2011
                   (Audited)     (Audited)    (Audited)    (Audited)
Capital and                                             
Liabilities
Capital            1,153.08      1,152.93     1,152.77     1,152.47
Employees stock
options            3.43          2.90         2.39         1.32
outstanding
Reserves and       63,305.63     61,867.68    59,250.09    57,448.45
surplus
Deposits           281,438.20    267,794.23   255,499.96   245,091.72
Borrowings
(includes
preference         135,390.13    137,206.55   140,164.90   121,323.66
shares and
subordinated
debt)
Other              15,764.65     15,469.84    17,576.98    15,707.59
liabilities
Total Capital      497,055.12    483,494.13   473,647.09   440,725.21
and Liabilities
                                                       
Assets                                                  
Cash and
balances with      21,175.08     17,951.32    20,461.30    23,301.52
Reserve Bank of
India
Balances with
banks and money    21,247.03     18,324.49    15,768.02    12,877.47
at call and
short notice
Investments        157,913.96    155,132.45   159,560.04   147,684.88
Advances           275,075.63    268,429.89   253,727.66   233,952.22
Fixed assets       4,621.49      4,668.14     4,614.68     4,696.52
Other assets       17,021.93     18,987.84    19,515.39    18,212.60
Total Assets       497,055.12    483,494.13   473,647.09   440,725.21
                                                            

CONSOLIDATED FINANCIAL RESULTS
(Rs in crore)
                                                                                     
                    Three months ended                        Six months ended            Year
                                                                                          ended
Sr.   Particulars   September     June 30,      September     September     September     March 31,
No.                 30,          2012         30,          30,          30,          2012
                    2012                        2011          2012          2011
                  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited)  (Audited)
1.   Total        18,609.43    16,639.71    16,110.61    35,249.14    30,860.40    66,658.28
      income
2.   Net profit   2,390.37     2,076.58     1,991.68     4,466.95     3,658.45     7,642.94
      Earnings
     per share    
      (EPS)
      a) Basic
      EPS (not
      annualised
     for three    20.73        18.01        17.28        38.75        31.75        66.33
      months/six
3.    months)(in
      Rs)
      b) Diluted
      EPS (not
      annualised
     for three    20.63        17.94        17.20        38.58        31.57        66.06
      months/six
      months)(in
      Rs)
                                                                        

UNCONSOLIDATED SEGMENTAL RESULTS OF ICICI BANK LIMITED
(Rs in crore)

                   Three months ended                            Six months ended              Year ended
Sr.                  September 30,   June 30,        September      September 30,   September      March 31,
No.   Particulars    2012           2012           30,           2012           30,           2012
                                                     2011                           2011
                    (Audited)      (Audited)      (Unaudited)   (Audited)      (Audited)     (Audited)
1.   Segment                                                                           
      revenue
a    Retail        5,579.55      5,464.05      4,852.42     11,043.60     9,535.25     19,711.27   
      Banking
b    Wholesale     7,988.92      7,248.57      6,344.67     15,237.49     11,988.72    26,171.31   
      Banking
c    Treasury      8,917.37      8,509.06      7,230.43     17,426.43     14,244.38    30,141.42   
d    Other         71.78         82.06         65.50        153.84        135.52       282.18      
      Banking
      Total
    segment       22,557.62     21,303.74     18,493.02    43,861.36     35,903.87    76,306.18   
      revenue
      Less: Inter
    segment       10,488.32     9,878.17      8,595.85     20,366.49     16,745.29    35,260.77   
      revenue
    Income from   12,069.30     11,425.57     9,897.17     23,494.87     19,158.58    41,045.41   
      operations
      Segmental
2.   results                                                                           
      (i.e. Profit
      before tax)
a    Retail        299.53        142.84        105.60       442.37        21.46        549.99      
      Banking
b    Wholesale     1,487.62      1,588.00      1,595.29     3,075.62      2,800.81     6,207.73    
      Banking
c    Treasury      828.16        799.17        347.12       1,627.33      982.17       2,080.68    
d    Other         70.07         (46.55      )  (13.05     )  23.52         10.69        (34.97      )
      Banking
      Total
    segment       2,685.38      2,483.46      2,034.96     5,168.84      3,815.13     8,803.43    
      results
    Unallocated   ..             ..             ..            ..             ..            ..
      expenses
    Profit        2,685.38      2,483.46      2,034.96     5,168.84      3,815.13     8,803.43    
      before tax
      Capital
      employed

3.   (i.e.                                                                             
      Segment
      assets –
      Segment
      liabilities)
a    Retail        (120,961.40 )  (115,832.84 )  (98,663.37 )  (120,961.40 )  (98,663.37 )  (106,850.82 )
      Banking
b    Wholesale     115,358.26    115,942.39    88,891.70    115,358.26    88,891.70    106,384.77  
      Banking
c    Treasury      63,115.73     55,039.02     61,675.92    63,115.73     61,675.92    53,552.58   
d    Other         1,590.79      2,269.17      1,224.37     1,590.79      1,224.37     1,717.58    
      Banking
e    Unallocated   5,358.76      5,605.77      5,473.62     5,358.76      5,473.62     5,601.14    
    Total         64,462.14     63,023.51     58,602.24    64,462.14     58,602.24    60,405.25   

Notes on segmental results:

1.The disclosure on segmental reporting has been prepared in accordance with
    Reserve Bank of India (RBI) circular no.
    DBOD.No.BP.BC.81/21.04.018/2006-07 dated April 18, 2007 on guidelines on
    enhanced disclosures on ”Segmental Reporting” which is effective from the
    reporting period ended March 31, 2008.
2.“Retail Banking” includes exposures which satisfy the four criteria of
    orientation, product, granularity and low value of individual exposures
    for retail exposures laid down in Basel Committee on Banking Supervision
    document “International Convergence of Capital Measurement and Capital
    Standards: A Revised Framework.”
3.“Wholesale Banking” includes all advances to trusts, partnership firms,
    companies and statutory bodies, which are not included under Retail
    Banking.
4.“Treasury“ includes the entire investment portfolio of the Bank.
5.“Other Banking” includes hire purchase and leasing operations and other
    items not attributable to any particular business segment.

Notes:

1. The financial statements have been prepared in accordance with Accounting
Standard (AS) 25 on ‘Interim Financial Reporting.’

2. The provision coverage ratio of the Bank at September 30, 2012, computed as
per the RBI circular dated December 1, 2009, is 78.7% (June 30, 2012: 80.6%;
March 31, 2012: 80.4%; September 30, 2011: 78.2%).

3. In accordance with Insurance Regulatory and Development Authority (IRDA)
guidelines, ICICI Lombard General Insurance Company (ICICI General), together
with all other general insurance companies participated in the Indian Motor
Third Party Insurance Pool (the Pool), administered by the General Insurance
Corporation of India (GIC) from April 1, 2007. The Pool covered reinsurance of
third party risks of commercial vehicles. IRDA through its orders dated
December 23, 2011, January 3, 2012 and March 22, 2012 has directed the
dismantling of the Pool on a clean cut basis and advised recognition of the
Pool liabilities as per loss ratios estimated by GAD UK (“GAD Estimates”) for
underwriting years commencing from the year ended March 31, 2008 to year ended
March 31, 2012. ICICI General recognised the additional liabilities of the
Pool in the three months ended March 31, 2012 and accordingly the Bank’s
consolidated net profit after tax for the year ended March 31, 2012 includes
impact of additional Pool losses of Rs 503.03 crore in line with Bank’s
shareholding in ICICI General.

4. During the three months ended September 30, 2012, the Bank has allotted
153,348 equity shares of Rs 10/- each pursuant to exercise of employee stock
options.

5. Status of equity investors’ complaints/grievances for the three months
ended September 30, 2012:

Opening balance   Additions   Disposals   Closing balance
0                 43          43          0

6. Previous period/year figures have been re-grouped/re-classified where
necessary to conform to current period classification.

7. The above financial results have been approved by the Board of Directors at
its meeting held on October 26, 2012.

8. The above unconsolidated financial results are audited by the statutory
auditors, S.R. Batliboi & Co., Chartered Accountants.

9. Rs 1 crore = Rs 10 million.

Contact:

ICICI Bank Limited
Press queries:
Sujit Ganguli, 91-22-2653 8525
ganguli.sujit@icicibank.com
or
Investor queries:
Rakesh Mookim, 91-22-2653 6114
ir@icicibank.com
 
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