ICICI Bank Announces Performance Review – Quarter ended December 31, 2012

  ICICI Bank Announces Performance Review – Quarter ended December 31, 2012

  *Consolidated return on equity (annualised) of 15.7% for the quarter ended
    December 31, 2012 (Q3-2013)
  *30% year-on-year increase in standalone profit after tax to Rs 2,250 crore
    (US$ 409 million) for Q3-2013 from Rs 1,728 crore (US$ 314 million) for
    the quarter ended December 31, 2011 (Q3-2012)
  *22% year-on-year increase in consolidated profit after tax to Rs 2,645
    crore (US$ 481 million) for Q3-2013 from Rs 2,174 crore (US$ 395 million)
    for Q3-2012
  *Net interest margin improved by 37 basis points to 3.07% for Q3-2013
    compared to the same period last year
  *16% year-on-year increase in advances to Rs 286,766 crore (US$ 52.1
    billion) at December 31, 2012
  *17% year-on-year increase in retail advances to Rs 96,528 crore (US$ 17.6
    billion) at December 31, 2012
  *Net non-performing asset ratio at 0.64% at December 31, 2012 compared to
    0.70% at December 31, 2011 and 0.66% at September 30, 2012
  *Strong capital adequacy ratio of 19.53% and Tier-1 capital adequacy of
    13.25%

Business Wire

MUMBAI, India -- January 31, 2013

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 December 31, 2012.

Profit & loss account

  *Standalone profit after tax increased 30% to Rs 2,250 crore (US$ 409
    million) for the quarter ended December 31, 2012 (Q3-2013) from Rs 1,728
    crore (US$ 314 million) for the quarter ended December 31, 2011 (Q3-2012).
  *Standalone profit after tax increased 32% to Rs 6,021 crore (US$ 1,095
    million) for the nine months ended December 31, 2012 (9M-2013) from Rs
    4,563 crore (US$ 830 million) for the nine months ended December 31, 2011
    (9M-2012).
  *Net interest income increased 29% to Rs 3,499 crore (US$ 636 million) in
    Q3-2013 from Rs 2,712 crore (US$ 493 million) in Q3-2012.
  *Net interest margin improved to 3.07% for Q3-2013 from 2.70% for Q3-2012.
  *Non-interest income increased by 17% to Rs 2,215 crore (US$ 403 million)
    in Q3-2013 from Rs 1,892 crore (US$ 344 million) in Q3-2012.
  *Cost-to-income ratio reduced to 39.5% in Q3-2013 from 41.5% in Q3-2012.
  *Provisions were at Rs 369 crore (US$ 67 million) in Q3-2013 compared to Rs
    341 crore (US$ 62 million) in Q3-2012 and Rs 508 crore (US$ 92 million) in
    the quarter ended September 30, 2012 (Q2-2013).
  *Return on average assets (annualised) was 1.76% in Q3-2013 compared to
    1.49% in Q3-2012.

Operating review

The Bank has continued with its strategy of pursuing profitable growth. The
Bank has grown its retail disbursements, 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
December 31, 2012, the Bank had 2,895 branches, the largest branch network
among private sector banks in the country. The Bank has also increased its ATM
network to 10,040 ATMs at December 31, 2012 as compared to 7,602 at December
31, 2011.

Credit growth

Advances increased by 16% year-on-year to Rs 286,766 crore (US$ 52.1 billion)
at December 31, 2012 from Rs 246,157 crore (US$ 44.8 billion) at December 31,
2011. The year-on-year growth in retail advances was 17% at December 31, 2012
compared to a year-on-year growth of 14% at September 30, 2012.

Deposit growth

The Bank maintained its current and savings account (CASA) ratio at 40.9% at
December 31, 2012 compared to 40.7% at September 30, 2012. The Bank also
maintained its average CASA ratio at 37.4% during Q3-2013 compared to 37.5%
during Q2-2013. During Q3-2013, CASA deposits increased by Rs 2,718 crore (US$
494 million). At December 31, 2012, savings account deposits were Rs 81,463
crore (US$ 14.8 billion) and current account deposits were Rs 35,674 crore
(US$ 6.5 billion).

Capital adequacy

The Bank’s capital adequacy at December 31, 2012 as per Reserve Bank of
India’s guidelines on Basel II norms was 19.53% and Tier-1 capital adequacy
was 13.25%, 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 December 31, 2012 were Rs 2,185 crore (US$ 397
million) compared to Rs 2,138 crore (US$ 389 million) at September 30, 2012
and Rs 2,082 crore (US$ 379 million) at December 31, 2011. The Bank’s net
non-performing asset ratio was 0.64% at December 31, 2012 compared to 0.66% at
September 30, 2012 and 0.70% at December 31, 2011. The Bank’s provision
coverage ratio computed in accordance with the RBI guidelines was 77.7% at
December 31, 2012. Net restructured loans at December 31, 2012 were Rs 4,169
crore (US$ 758 million) compared to Rs 4,158 crore (US$ 756 million) at
September 30, 2012.

Consolidated profits

Consolidated profit after tax increased 22% to Rs 2,645 crore (US$ 481
million) for Q3-2013 from Rs 2,174 crore (US$ 395 million) for Q3-2012. The
consolidated return on equity (annualised) improved from 14.2% in Q3-2012 to
15.7% in Q3-2013.

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 9M-2013. ICICI Life’s profit after tax for Q3-2013 was Rs 397 crore
(US$ 72 million) compared to Rs 367 crore (US$ 67 million) for Q3-2012. ICICI
Life’s annualised premium equivalent (APE) increased by 11% to Rs 2,255 crore
(US$ 410 million) in 9M-2013 from Rs 2,040 crore (US$ 371 million) in 9M-2012.
The assets under management at December 31, 2012 were Rs 74,982 crore (US$
13.6 billion).

ICICI Lombard General Insurance Company (ICICI General) maintained its
leadership in the private sector during 9M-2013. The gross premium income of
ICICI General increased by 24% to Rs 1,687 crore (US$ 307 million) in Q3-2013
from Rs 1,356 crore (US$ 247 million) in Q3-2012. ICICI General’s profit after
tax for Q3-2013 was Rs 95 crore (US$ 17 million) compared to Rs 101 crore (US$
18 million) for Q3-2012.

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

Rs crore
                FY2012    Q3-2012  9M-2012   Q2-2013  Q3-2013  9M-2013
Net interest     10,734   2,712   7,629     3,371    3,499    10,063
income
Non-interest     7,502    1,892   5,274     2,043    2,215    6,138
income
- Fee income     6,707    1,701   4,979     1,709    1,771    5,126
- Dividend and   808      256     465       162      193      609
other income
- Treasury       (13    )  (65   )  (170    )  172      251      403
income
Less:                                                       
Operating        7,850    1,917   5,628     2,221    2,261    6,606
expense^1
Operating        10,386   2,687   7,275     3,193    3,453    9,595
profit
Less:            1,583    341     1,114     508      369      1,342
Provisions
Profit before    8,803    2,346   6,161     2,685    3,084    8,253
tax
Less: Tax        2,338    618     1,598     729      834      2,232
Profit after     6,465    1,728   4,563     1,956    2,250    6,021
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
                                   December  March     September  December
                                    31, 2011   31, 2012   30, 2012    31, 2012
Capital and Liabilities                                        
Capital                            1,153     1,153     1,153      1,153
Employee stock options             2         2         3          4
outstanding
Reserves and surplus               59,821    59,250    63,306     65,961
Deposits                           260,589   255,500   281,438    286,418
Borrowings (includes subordinated  122,281   140,165   135,390    147,149
debt)^1
Other liabilities^2                47,095    32,999    29,904     26,654
Total Capital and Liabilities      490,941   489,069   511,194    527,339
                                                              
Assets                                                         
Cash and balances with Reserve     22,144    20,461    21,175     21,778
Bank of India
Balances with banks and money at   17,202    15,768    21,247     19,351
call and short notice
Investments                        149,791   159,560   157,914    166,842
Advances                           246,157   253,728   275,076    286,766
Fixed assets                       4,617     4,615     4,621      4,619
Other assets^2                     51,030    34,937    31,161     27,983
Total Assets                       490,941   489,069   511,194    527,339

1. Borrowings include preference share capital of Rs 350 crore.
2. At December 31, 2012, the Bank has presented the mark-to-market (MTM) gain
or loss on forex and derivative transactions on gross basis. Accordingly, the
gross positive MTM amounting to Rs 12,254 crore has been included in Other
assets and gross negative MTM amounting to Rs 10,744 crore has been included
in Other liabilities. Consequent to the change, Other assets and Other
liabilities have increased by Rs 14,139 crore, Rs 15,422 crore and Rs 31,648
crore at September 30, 2012, March 31, 2012 and December 31, 2011
respectively.

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 55.00


ICICI Bank Limited
Registered Office: Landmark, Race Course Circle, Vadodara - 390 007.
Corporate Office: ICICI Bank Towers, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051.
Web site: http://www.icicibank.com
                                                                                                                
UNCONSOLIDATED FINANCIAL RESULTS
(Rs in crore)
Sr.   Particulars               Three months ended                                    Nine months ended                   Year ended
no.
                                December          September 30,     December          December          December          March
                                                  2012
                                31, 2012                            31, 2011          31, 2012          31, 2011          31, 2012
                                (Audited)         (Audited)         (Audited)         (Audited)         (Audited)         (Audited)
1.   Interest earned          10,138.29       10,026.33       8,591.87        29,710.27       24,368.01       33,542.65     
      (a)+(b)+(c)+(d)
    a)   Interest/discount   7,065.80        6,848.79        5,685.84        20,370.42       16,001.71       22,129.89     
           on advances/bills
    b)   Income on           2,742.42        2,744.54        2,472.54        8,188.87        7,068.55        9,684.02      
           investments
           Interest on
           balances with
    c)   Reserve Bank of     136.25          148.83          134.11          408.69          363.21          491.14        
           India and other
           inter-bank funds
    d)   Others              193.82          284.17          299.38          742.29          934.54          1,237.60      
2.   Other income             2,214.62        2,042.97        1,891.86        6,137.51        5,274.30        7,502.76      
3.   TOTAL INCOME (1)+(2)     12,352.91       12,069.30       10,483.73       35,847.78       29,642.31       41,045.41     
4.   Interest expended        6,639.27        6,655.10        5,879.85        19,647.08       16,738.63       22,808.50     
5.   Operating expenses       2,261.16        2,220.90        1,916.78        6,605.59        5,628.80        7,850.44      
      (e)+(f)
    e)   Employee cost       940.64          965.88          836.63          2,893.55        2,412.18        3,515.28      
    f)   Other operating     1,320.52        1,255.02        1,080.15        3,712.04        3,216.62        4,335.16      
           expenses
      TOTAL EXPENDITURE
6.   (4)+(5)                  8,900.43        8,876.00        7,796.63        26,252.67       22,367.43       30,658.94     
      (excluding provisions
      and contingencies)
      OPERATING PROFIT
      (3)–(6)
7.   (Profit before           3,452.48        3,193.30        2,687.10        9,595.11        7,274.88        10,386.47     
      provisions and
      contingencies)
8.   Provisions (other than   368.73          507.92          341.10          1,342.52        1,113.75        1,583.04      
      tax) and contingencies
9.   Exceptional items        ..               ..               ..               ..               ..               ..
      PROFIT/(LOSS) FROM
10.  ORDINARY ACTIVITIES      3,083.75        2,685.38        2,346.00        8,252.59        6,161.13        8,803.43      
      BEFORE TAX (7)–(8)–(9)
11.  Tax expense (g)+(h)      833.51          729.27          617.90          2,231.19        1,597.64        2,338.17      
    g)   Current period tax  746.91          679.36          492.94          2,162.81        1,564.45        2,193.52      
    h)   Deferred tax        86.60           49.91           124.96          68.38           33.19           144.65        
           adjustment
      NET PROFIT/(LOSS) FROM
12.  ORDINARY ACTIVITIES      2,250.24        1,956.11        1,728.10        6,021.40        4,563.49        6,465.26      
      AFTER TAX (10)–(11)
13.  Extraordinary items      ..               ..               ..               ..               ..               ..
      (net of tax expense)
14.  NET PROFIT/(LOSS) FOR    2,250.24        1,956.11        1,728.10        6,021.40        4,563.49        6,465.26      
      THE PERIOD (12)–(13)
      Paid-up equity share
15.  capital (face value Rs   1,153.36        1,153.08        1,152.62        1,153.36        1,152.62        1,152.77      
      10/- each)
16.  Reserves excluding       65,961.38       63,305.63       59,821.05       65,961.38       59,821.05       59,250.09     
      revaluation reserves
17.  Analytical ratios                                                                                        
           Percentage of
    i)   shares held by      0.01            0.01            ..               0.01            ..               ..
           Government of
           India
    ii)  Capital adequacy    19.53         %  18.28         %  18.88         %  19.53         %  18.88         %  18.52         %
           ratio
    iii) Earnings per share                                                                                  
           (EPS)
                Basic EPS
                before and
                after
                extraordinary
                items, net of
        a)   tax expense    19.51           16.97           14.99           52.23           39.61           56.11         
                (not
                annualised
                for three
                months/nine
                months) (in
                Rs)
                Diluted EPS
                before and
                after
                extraordinary
                items, net of
        b)   tax expense    19.42           16.91           14.96           52.06           39.49           55.95         
                (not
                annualised
                for three
                months/nine
                months) (in
                Rs)
18.  NPA Ratio^1                                                                                              
           Gross
    i)   non-performing      9,763.39        10,036.37       9,723.01        9,763.39        9,723.01        9,475.33      
           advances (net of
           write-off)
    ii)  Net non-performing  2,181.53        2,134.07        2,047.67        2,181.53        2,047.67        1,860.84      
           advances
           % of gross
           non-performing
    iii) advances (net of    3.31          %  3.54          %  3.82          %  3.31          %  3.82          %  3.62          %
           write-off) to
           gross advances
           % of net
    iv)  non-performing      0.76          %  0.78          %  0.83          %  0.76          %  0.83          %  0.73          %
           advances to net
           advances
19.  Return on assets         1.80          %  1.59          %  1.57          %  1.66          %  1.43          %  1.50          %
      (annualised)
20.  Public shareholding                                                                                      
    i)   No. of shares       1,153,303,032   1,153,027,642   1,152,564,657   1,153,303,032   1,152,564,657   1,152,714,442 
    ii)  Percentage of       100             100             100             100             100             100           
           shareholding
21.  Promoter and promoter                                                                                    
      group shareholding
    i)   Pledged/encumbered                                                                                  
        a)   No. of shares  ..               ..               ..               ..               ..               ..
                Percentage of
                shares (as a
                % of the
        b)   total          ..               ..               ..               ..               ..               ..
                shareholding
                of promoter
                and promoter
                group)
                Percentage of
                shares (as a
        c)   % of the       ..               ..               ..               ..               ..               ..
                total share
                capital of
                the Bank)
    ii)  Non-encumbered                                                                                      
        a)   No. of shares  ..               ..               ..               ..               ..               ..
                Percentage of
                shares (as a
                % of the
        b)   total          ..               ..               ..               ..               ..               ..
                shareholding
                of promoter
                and promoter
                group)
                Percentage of
                shares (as a
        c)   % of the       ..               ..               ..               ..               ..               ..
                total share
                capital of
                the Bank)
                                                                                                                          
1     At December 31, 2012 the percentage of gross non-performing customer assets to gross customer assets was 2.82% and net
      non-performing customer assets to net customer assets was 0.64%. Customer assets include advances and credit substitutes.
      

SUMMARISED UNCONSOLIDATED BALANCE SHEET
(Rs in crore)
Particulars                 At
                             December     September    March        December
                             31, 2012                           
                                          30, 2012     31, 2012     31, 2011
                           (Audited)   (Audited)   (Audited)   (Audited)
Capital and Liabilities                                      
Capital                     1,153.36    1,153.08    1,152.77    1,152.62
Employees stock options     3.95        3.43        2.39        1.84
outstanding
Reserves and surplus        65,961.38   63,305.63   59,250.09   59,821.05
Deposits                    286,418.06  281,438.20  255,499.96  260,589.36
Borrowings (includes
preference shares and       147,149.07  135,390.13  140,164.90  122,280.83
subordinated debt)
Other liabilities and       26,653.07   29,903.98   32,998.69   47,095.74
provisions
Total Capital and           527,338.89  511,194.45  489,068.80  490,941.44
Liabilities
                                                            
Assets                                                       
Cash and balances with      21,777.62   21,175.08   20,461.30   22,144.07
Reserve Bank of India
Balances with banks and
money at call and short     19,351.02   21,247.03   15,768.02   17,201.90
notice
Investments                 166,842.01  157,913.96  159,560.04  149,791.42
Advances                    286,765.98  275,075.63  253,727.66  246,157.49
Fixed assets                4,618.52    4,621.49    4,614.68    4,616.63
Other assets                27,983.74   31,161.26   34,937.10   51,029.93
Total Assets                527,338.89  511,194.45  489,068.80  490,941.44
                                                                    


CONSOLIDATED FINANCIAL RESULTS
(Rs in crore)
Sr.  Particulars  Three months ended                       Nine months ended          Year
no.                                                                                       ended
                    December      September     December      December      December      March
                   31, 2012     30, 2012     31, 2011                   31, 2011
                                                              31, 2012                    31, 2012
                 (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)   (Audited)
1.   Total        18,715.39    18,609.43    16,497.35    53,964.53    47,357.75    66,658.28
      income
2.   Net profit   2,644.61     2,390.37     2,174.22     7,111.56     5,832.67     7,642.94
      Earnings
3.   per share                                                                
      (EPS)
      a) Basic
      EPS (not
      annualised
    for three    22.93        20.73        18.87        61.68        50.62        66.33
      months/nine
      months) (in
      Rs)
      b) Diluted
      EPS (not
      annualised
    for three    22.79        20.63        18.78        61.38        50.37        66.06
      months/nine
      months) (in
      Rs)
                                                                                          


UNCONSOLIDATED SEGMENTAL RESULTS OF ICICI BANK LIMITED
(Rs in crore)
 Sr.  Particulars   Three months ended                             Nine months ended              Year ended    
  no.
                       December 31,    September 30,   December 31,    December        December 31,    March
                       2012           2012           2011                           2011                          
                                                                       31, 2012                        31, 2012
                    (Audited)       (Audited)       (Audited)       (Audited)       (Audited)       (Audited)     
  1.   Segment                                                                                          
        revenue
  a    Retail        5,698.63      5,579.55      4,951.87      16,742.23     14,487.12     19,711.27    
        Banking
  b    Wholesale     8,264.85      7,988.92      6,798.37      23,502.34     18,787.09     26,171.31    
        Banking
  c    Treasury      9,025.02      8,917.37      7,603.06      26,451.45     21,847.44     30,141.42    
  d    Other         103.89        71.78         51.96         257.73        187.48        282.18       
        Banking
        Total
      segment       23,092.39     22,557.62     19,405.26     66,953.75     55,309.13     76,306.18    
        revenue
        Less: Inter
      segment       10,739.48     10,488.32     8,921.53      31,105.97     25,666.82     35,260.77    
        revenue
      Income from   12,352.91     12,069.30     10,483.73     35,847.78     29,642.31     41,045.41    
        operations
        Segmental
  2.   results                                                                                          
        (i.e. Profit
        before tax)
  a    Retail        242.49        299.53        320.45        684.86        341.91        549.99       
        Banking
  b    Wholesale     1,922.76      1,487.62      1,657.14      4,998.38      4,457.95      6,207.73     
        Banking
  c    Treasury      934.49        828.16        398.24        2,561.82      1,380.41      2,080.68     
  d    Other         (15.99      )  70.07         (29.83      )  7.53          (19.14      )  (34.97      ) 
        Banking
        Total
      segment       3,083.75      2,685.38      2,346.00      8,252.59      6,161.13      8,803.43     
        results
      Unallocated   ..             ..             ..             ..             ..             ..            
        expenses
      Profit        3,083.75      2,685.38      2,346.00      8,252.59      6,161.13      8,803.43     
        before tax
        Capital
        employed

  3.   (i.e.                                                                                              
        Segment
        assets –
        Segment
        liabilities)
  a    Retail        (124,172.15 )  (120,961.40 )  (105,342.94 )  (124,172.15 )  (105,342.94 )  (106,850.82 ) 
        Banking
  b    Wholesale     123,905.41    115,358.26    90,958.19     123,905.41    90,958.19     106,384.77   
        Banking
  c    Treasury      59,610.96     63,115.73     68,274.02     59,610.96     68,274.02     53,552.58    
  d    Other         2,112.79      1,590.79      1,506.03      2,112.79      1,506.03      1,717.58     
        Banking
  e    Unallocated   5,661.68      5,358.76      5,580.21      5,661.68      5,580.21      5,601.14     
      Total         67,118.69     64,462.14     60,975.51     67,118.69     60,975.51     60,405.25    
                                                                                                                     
  Notes on segmental
  results:
                                                                                                                     
        The disclosure on segmental reporting has been prepared in accordance with Reserve Bank of India (RBI)
  1.    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.
        "Retail Banking" includes exposures which satisfy the four criteria of orientation, product, granularity and
  2.    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 and derivative portfolio of the Bank.
  5.    "Other Banking" includes leasing operations and other items not attributable to any particular business
        segment.
                                                                                                                     

 Notes:
  1.   The above financial results have been approved by the Board of
        Directors at its meeting held on January 31, 2013.
  2.    The financial statements have been prepared in accordance with
        Accounting Standard (AS) 25 on 'Interim Financial Reporting'.
        The provision coverage ratio of the Bank at December 31, 2012,
  3.    computed as per the RBI circular dated December 1, 2009, is 77.7%
        (September 30, 2012: 78.7%; March 31, 2012: 80.4%; December 31, 2011:
        78.9%).
        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
  4.    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.
        At December 31, 2012 the Bank has presented the mark-to-market (MTM)
        gain or loss on forex and derivative transactions on gross basis.
        Accordingly, the gross positive MTM amounting to Rs 12,254.23 crore
  5.    has been included in Other assets and gross negative MTM amounting to
        Rs 10,743.75 crore has been included in Other liabilities. Consequent
        to the change, Other assets and Other liabilities have increased by Rs
        14,139.33 crore, Rs 15,421.71 crore and Rs 31,648.46 crore at
        September 30, 2012, March 31, 2012 and December 31, 2011 respectively.
        During the three months ended December 31, 2012 the Bank has allotted
  6.    275,390 equity shares of Rs 10/- each pursuant to exercise of employee
        stock options.
  7.    Status of equity investors' complaints/grievances for the three months
        ended December 31, 2012:
                                                      
        Opening balance Additions        Disposals       Closing
                                                         balance
        0               24               22              2
                                                                       
  8.    Previous period/year figures have been re-grouped/re-classified where
        necessary to conform to current period classification.
  9.    The above unconsolidated financial results are audited by the
        statutory auditors, S.R. Batliboi & Co., Chartered Accountants.
  10.   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