Performance Review: Q4Q4-2013

April 26, 2013

forward-looking statements. Certain statements in these slides are forward These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results due may differ materially from those included in these statements du e to a variety of factors. More information about these factors is contained contained in ICICI Bank's filings with the US Securities and Exchange Commission. Commission. All financial and other information in these slides, other than financial and other information for specific subsidiaries where specifically specifically mentioned, is on an unconsolidated basis for ICICI Bank Limited only unless specifically stated to be on a consolidated basis for ICICI ICICI Bank Limited and its subsidiaries. Please also refer to the statement of Indian unconsolidated, consolidated and segmental results required by I ndian the regulations that has, along with these slides, been filed with t he stock Bank s equity shares are listed and with exchanges in India where ICICI Bank the New York Stock Exchange and the US Securities and Exchange Commission, and is available on our website www.icicibank.com

FY2013: Performance highlights

28.8% increase in standalone profit after tax from ` 64.65 bn in FY2012 (April 20112011-March 2012) to ` 83.25 bn in FY2013 (April 20122012-March 2013)
Net interest income increased by 29.2% yearyear-ononyear; full year net interest margin improved from 2.73% in FY2012 to 3.11% in FY2013

25.7% increase in consolidated profit after tax from ` 76.43 bn in FY2012 to ` 96.04 bn in FY2013 Consolidated return on equity for FY2013 at 14.7% compared to 13.0% for FY2012

Q4Q4-2013: Performance highlights (1/2)

21.1% increase in standalone profit after tax from ` 19.02 bn in Q4Q4-2012 (January(January-March 2012) to ` 23.04 bn in Q4Q4-2013 (January(January-March 2013)
Net interest income increased by 22.5% yearyear-ononyear; net interest margin at 3.33%
International margin at 1.3%

37.7% increase in consolidated profit after tax from ` 18.10 bn in Q4Q4-2012 to ` 24.92 bn in Q4Q4-2013 Consolidated return on equity (annualised (annualised) annualised) for Q4Q42013 at 14.5%

Q4Q4-2013: Performance highlights (2/2)

Advances increased by 14.4% yearyear-onon-year to ` 2,902.49 billion at March 31, 2013 Period end CASA ratio at 41.9% at March 31, 2013
Average CASA ratio at 38.1% for Q4Q4-2013 compared to 37.4% for Q3Q3-2013

Net NPA ratio of 0.64% at March 31, 2013 (December 31, 2012: 0.64%; March 31, 2012: 0.62%)

Profit & loss statement

FY 2012 NII NonNon-interest income 107.34 75.02 Q42012 31.05 22.28 Q32013 34.99 22.15 Q42013 FY 2013 38.03 138.66 22.08 83.46

(` billion)
Q4-o-Q4 growth 22.5% (0.9)%

- Fee income - Other income - Treasury income

Total income Operating expenses1

67.07 8.08 (0.13)

182.36 78.50

17.28 3.42 1.58

53.33 22.22 31.11

17.71 1.93 2.51

57.14 22.61 34.53

17.75 3.40 0.93

69.01 9.50 4.95

2.7% (0.6)% (41.1)%

12.7% 8.3% 15.8%

60.11 222.12 24.07 90.13

Operating profit 103.86

36.04 131.99

1. Includes commissions paid to direct marketing agents (DMAs (DMAs) DMAs) for origination of retail loans and lease depreciation

Profit & loss statement

FY 2012 Operating profit Provisions Profit before tax Tax Profit after tax 15.83 23.38 Q42012 4.69 7.40 Q32013 34.53 3.691 30.84 8.34 22.50 Q42013 36.04 4.60 31.44 8.40 23.04 FY 2013 131.99 18.03 113.96 30.71 83.25 103.86 31.11 88.03 26.42 64.65 19.02

(` billion)
Q4-o-Q4 growth 15.8% (1.9)% 19.0% 13.5% 21.1%

Balance sheet: Assets

Cash & bank balances Investments March 31, 2012 362.29 1,595.60 December 31, 2012 411.29 1,668.42 March 31, 2013 414.18 1,713.94

(` billion)
Y-o-Y growth 14.3% 7.4%

- SLR investments - Equity investment in Subsidiaries - RIDF1 and related

Advances2 Fixed & other assets Total assets2
1. 2.

869.39 124.53 181.03

2,537.28 395.52 4,890.69

924.11 124.53 193.42

2,867.66 326.02 5,273.39

923.76 123.22 201.98

2,902.49 337.34 5,367.95

6.3% (1.1)% 11.6%

14.4% (14.7)% 9.8%

Rural Infrastructure Development Fund Including impact of exchange rate movement

Net investment in security receipts of asset reconstruction companies was ` 11.47 bn at March 31, 2013 (December 31, 2012: ` 13.18 bn) exposure) sure) Net credit derivative exposure (including off balance sheet expo was US$ 56 mn at March 31, 2013 compared to US$ 59 mn at December 31, 2012 and US$ 201 mn at March 31, 2012 Underlying comprises Indian corporate credits

Loan book classification: new reporting

Nature of loan Builder finance Loans to small businesses Dealer funding Rural retail i.e. portfolios like jewel loans, farm equipment loans etc. Loans to SMEs related to agriculture Loans to corporates related to agriculture Earlier reported in Now reported in Retail - home Domestic corporate SME Retail - other secured Rural Retail - business banking Retail - business banking Retail - others

Rural Rural

SME Domestic corporate

Composition of loan book (y (y-o-y)

March 31, 2012
SME 6.0%

March 31, 2013

SME 5.2%

Overseas 1 branches 27.4%

Retail business 38.0%

Overseas 1 branches 25.3%

Retai l busi ness 3 37.0%

Domestic 2 corporate 28.6%

Domesti c corporate 2 32.5%

Total loan book: ` 2,537 bn

1. 2. 3.
10

Total loan book: ` 2,902 bn

Including impact of exchange rate movement Domestic corporate loans include builder finance Including buyouts & interinter-bank participation certificates

Composition of retail loan book (y (y-o-y)

March 31, 2012
Cre dit cards 2 .6 % Pe rsonal loans B usine ss 1 .1 % banking 7 .2 % Ot he rs 1 1 .0 %

March 31, 2013

Cre dit cards 2 .5 % Pe rsonal loans B usine ss 1 .5 % banking 5 .9 % Ot he rs 1 2 .3 %

Ve hicle loans 1 2 7 .6 %

H ome 5 0 .5 %

Ve hicle loans 2 2 4 .2 %

H ome 5 3 .6 %

Total retail loan book: ` 964 bn

Total retail loan book: ` 1,074 bn

Retail loan growth of 25.6% excluding impact of bought out portfolio maturities & lower fresh buyouts
1. 2.
11

March 31, 2012: Vehicle loans includes auto loans 9.1%, commercial business 18.5% March 31, 2013: Vehicle loans includes auto loans 10.2%, commercial business 13.9%

Composition of loan book (q (q-o-q)

December 31, 2012
SME 5.2%

March 31, 2013

SME 5.2%

Overseas 1 branches 1 25.7% Domestic 2 corporate2 34.2%

Retail 3 business 34.9% 3

Overseas 1 branches 25.3%

Retai l busi ness 3 37.0%

Domesti c corporate 2 32.5%

Total loan book: ` 2,868 bn

1. 2. 3.
12

Total loan book: ` 2,902 bn

Including impact of exchange rate movement Domestic corporate loans include builder finance Including buyouts & interinter-bank participation certificates

Composition of retail loan book (q (q-o-q)

December 31, 2012
Credit cards 2.8% Personal loans Business 1.1% banking 5.6% Others 11.3%
2

March 31, 2013

Cre dit cards 2 .5 % Pe rsonal loans B usine ss 1 .5 % banking 5 .9 % Ot he rs 1 2 .3 %

Vehicle loans 1 25.1%

Home 54.1%

Ve hicle loans2 2 4 .2 %

H ome 5 3 .6 %

Total retail loan book: ` 999 bn

1. 2.
13

Total retail loan book: ` 1,074 bn

December 31, 2012: Vehicle loans includes auto loans 10.0%, commercial business 15.1% March 31, 2013: Vehicle loans includes auto loans 10.2%, commercial business 13.9%

Equity investment in subsidiaries

(` billion)
March 31, 2012 ICICI Prudential Life Insurance ICICI Bank Canada ICICI Bank UK ICICI Lombard General Insurance ICICI Home Finance ICICI Bank Eurasia LLC ICICI Securities Limited ICICI Securities Primary Dealership ICICI AMC ICICI Venture Funds Mgmt Others Total 35.93 33.50 23.25 13.48 11.12 3.00 1.87 1.58 0.61 0.05 0.14 124.53 December 31, 2012 35.93 33.50 23.25 13.48 11.12 3.00 1.87 1.58 0.61 0.05 0.14 124.53 March 31, 2013 35.93 33.50 21.20 14.22 11.12 3.00 1.87 1.58 0.61 0.05 0.14 123.22

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Balance sheet: Liabilities

March 31, 2012 Net worth 604.05 December 31, 2012 671.19 March 31, 2013 667.06

(` billion)
Y-o-Y growth 10.4%

- Equity capital - Reserves

Deposits

11.53 592.52
2,555.00

11.53 659.65
2,864.18

11.54 655.52
2,926.14

0.1% 10.6%
14.5%

- Savings - Current
Borrowings1,2 Other liabilities3 Total liabilities2
1. 2.

760.46 349.73
1,401.65 329.99 4,890.69

814.63 356.74
1,471.49 266.53 5,273.39

856.51 369.26
1,453.41 321.34 5,367.95

12.6% 5.6%
3.7% 0.1% 9.8%

Borrowings include preference shares amounting to ` 3.50 bn Including impact of exchange rate movement

Credit/deposit ratio of 78.9% on the domestic balance sheet at March 31, 2013

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Composition of borrowings
March 31, 2012 Domestic - Capital instruments1 - Other borrowings Overseas2 - Capital instruments - Other borrowings Total borrowings2
1. 2.

(` billion)
March 31, 2013 784.69 381.71 402.98 668.72 18.41 650.31 1,453.41

December 31, 2012 779.59 388.37 391.22 691.90 18.65 673.25 1,471.49

739.78 362.40 377.38 661.87 17.24 644.62 1,401.65

Includes preference share capital ` 3.50 bn Including impact of exchange rate movement

Capital instruments constitute 48.6% of domestic borrowings

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Capital adequacy (Basel II)

Basel II March 31, 2012 ` bn Total Capital 738.13 505.18 232.95 3,985.86 % 18.52% 12.68% 5.84% December 31, 2012 ` bn 841.28 % 19.53% March 31, 2013 ` bn 828.36 % 18.74%

- Tier I - Tier II
Risk weighted assets

570.76 270.52
4,308.10

13.25% 6.28%

565.62 12.80% 262.74

4,419.44

5.95%

-On balance sheet -Off balance sheet

3,043.23 942.63

3,323.64 984.46

3,420.27 999.17

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Asset quality and provisioning

March 31, 2012 Gross NPAs Less: Cumulative provisions Net NPAs Net NPA ratio 95.63 76.69 18.94 0.62% December 31, 2012 98.03 76.18 21.85 0.64%

(` billion)
March 31, 2013 96.47 74.13 22.34 0.64%

Gross retail NPLs at ` 41.76 bn and net retail NPLs at ` 5.24 bn at March 31, 20131 Provisioning coverage ratio of 76.8% at March 31, 2013 computed in accordance with RBI guidelines Net loans to companies whose facilities have been restructured at ` 53.15 bn at March 31, 2013 compared to ` 45.62 bn at December 31, 2012 and ` 45.54 bn at March 31, 2012 Outstanding general provision on standard assets: ` 16.24 bn at March 31, 2013
1.
18

Excludes business banking and rural retail loans

Overseas subsidiaries

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ICICI Bank UK asset profile

December 31, 2012
Bo nd s/no tes o f Other assets & fi na nc i a l A sset b ac ked i nvestments i nsti tuti o ns sec uri ti es 6.5% 2.5% 2.1% Ind i a l i nked i nvestments 2 8.0%

March 31, 2013

Bo nd s/no tes o f fi na nc i a l A sset b a c ked i nsti tuti o ns sec uri ti es Other a ssets & 2.3% 2.1% i nvestments Ind i a l i nked 3.2% i nvestments 2 7.4% Ca sh & l i q ui d sec uri ti es1 20.5%

Cash & l i q ui d sec uri ti es 1 15.3%

Lo ans & a d vanc es3 65.6%

L o a ns & ad va nc es 3 64.5%

Total assets: USD 4.0 bn

1. 2. 3.

Total assets: USD 3.6 bn

Includes cash & advances to banks, T Bills Includes IndiaIndia-linked credit derivatives of US$ 15 mn at March 31, 2013 (US$ 15 mn at December 31, 2012) Includes securities rere-classified to loans & advances

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ICICI Bank UK liability profile

December 31, 2012
Synd i c a ted l o a ns & i nterb a nk b o rro wi ng s 14.4% Other l i a b i l i ti es 3.9% Net wo rth 18.5%

March 31, 2013

Synd i c ated l o a ns & i nterb ank b o rro wi ng s 13.9% Other l i a b i l i ti es 3.9% Net wo rth 17.3%

Lo ng term d eb t 12.0% T erm d ep o si ts 36.3%

Dema nd d ep o si ts 14.9%

L o ng term d eb t 14.7%

D emand d ep o si ts 17.4% T erm d ep o si ts 32.8%

Total liabilities: USD 4.0 bn

Total liabilities: USD 3.6 bn

mn n in FY2012 Profit after tax of US$ 14.4 mn in FY2013 compared to US$ 25.4 m Capital adequacy ratio at 30.8% Proportion of retail term deposits in total deposits at 51% at March March 31, 2013

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ICICI Bank Canada asset profile

December 31, 2012
Cash & l i q ui d sec uri ti es 1 14.2% Ind i a l i nked i nvestments 2 0.1% Insured 3 mo rtg ag e 30.9%

March 31, 2013

Ca sh & l i q ui d sec uri ti es 1 15.4% Ind i a l i nked 2 i nvestments 0.0% Insured mo rtg a g e 3 33.7%

Other a ssets & i nvestments 8.8% Asset b ac ked sec uri ti es 0.3%

Other a ssets & i nvestments 9.2% A sset b a c ked sec uri ti es 0.3%

Lo ans to c usto mers 45.7%

Lo a ns to c usto mers 41.4%

Total assets: CAD 5.3 bn

1. 2. 3. Includes cash & advances to banks and government securities Includes IndiaIndia-linked credit derivatives of nil at March 31, 2013 Based on IFRS, securitised portfolio of CAD 1,583 mn and CAD 1,745 mn considered as part of Insured mortgage portfolio at December 31, 2012 and March 31, 2013 respectively

Total assets: CAD 5.4 bn

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ICICI Bank Canada liability profile

December 31, 2012
Other l i a b i l i ti es 1.0% Net w o rth 19.0%

March 31, 2013

Other l i a b i l i ti es 2.2% Net wo rth 19.1%

Bo rro w i ng s 31.2%

Bo rro w i ng s 2 33.8%

T erm d ep o si ts 33.3%

T erm d ep o si ts 29.9%

Total liabilities: CAD 5.3 bn

Capital adequacy ratio at 33.2% 1.

D ema nd d ep o si ts 15.5%

Total liabilities: CAD 5.4 bn

Dema nd d ep o si ts 15.0%

Profit after tax of CAD 43.6 mn in FY2013 compared to CAD 34.4 mn mn in FY2012

As per IFRS, proceeds of CAD 1,590 mn and CAD 1,743 mn from sale of securitised portfolio considered as part of borrowings at December 31, 2012 and March 31, 2013 respectively

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ICICI Bank Eurasia asset profile

December 31, 2012
Oth er assets & in vestmen ts 0. 8%

March 31, 2013

Oth er assets & in vestmen ts 0. 7%

C ash & cash equ ivalen ts 1 29. 7%

Loan s to corporates & ban ks 52. 9%

C ash & cash equ ivalen ts1 30. 2%

Loans to corporates & ban ks 53. 4%

Retail loan s 15. 6% C orporate bon ds 1. 0%

Retail loan s 14. 9% C orporate bonds 0. 8%

Total assets: USD 246 mn

Total assets: USD 245 mn

Total borrowings of USD 138 mn at March 31, 2013 Capital adequacy of 27.0% at March 31, 2013 Net profit of USD 6.1 mn in FY2013 compared to USD 4.3 mn in FY2012 FY2012 1.
24

Includes cash & call placements with banks, balances with central bank, government securities and nostro balances

Domestic subsidiaries

25

ICICI Home Finance

December 31, 2012
Inv e s t me nt s and ot he r ass e t s 1 1 .3 %

March 31, 2013

Inv e st me nt s and othe r asse ts 9 .5 %

Loans 8 8 .7 %

Loans 9 0 .5 %

Total assets: ` 72.65 bn

Total assets: ` 72.02 bn

Profit after tax of ` 2.20 bn in FY2013 compared to ` 2.60 bn in FY2012 Capital adequacy ratio of 28.8% at March 31, 2013 Net NPA ratio: 0.8% At March 31, 2013: Networth ` 14.65 bn; Deposits ` 3.82 bn and Borrowings ` 53.56 bn

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ICICI Life
FY2012
New business received premium Renewal premium Total premium Annualised premium equivalent (APE) New Business Profit (NBP) NBP margin Statutory profit Assets Under Management Expense ratio1 44.41 95.80 140.22 31.18 5.00 16.0% 13.84 707.71 17.9%

(` billion) FY2013
48.09 87.29 135.38 35.32 5.29 15.0% 14.96 741.64 19.2%

Sustained leadership in private space with a market share of 7.2%2 for April 20122012-February 2013 Annualised premium equivalent increased by 18.6% from ` 10.77 bn in Q4Q4-2012 to ` 12.77 bn in Q4Q4-2013
1. 2.
27

Expense ratio: All expenses (including commission and excluding unit costs) / (Total premium 90% of Single Premium) Source: IRDA (based on new business retail weighted premium)

ICICI General
FY2012
Gross premium1 PAT 53.58 (4.16)2

(` billion) FY2013
64.20 3.063

Market share based on gross written premium was 9.8%4 for April 20122012-February 2013
1. 2. Excluding remittances from third party motor pool (the Pool) and including premium on reinsurance accepted IRDA through its orders dated December 23, 2011, January 3, 2012 and March 22, 2012 had directed the dismantling of the Pool on a clean cut basis and advised advised recognition of Pool liabilities as per the loss ratios estimated by GAD UK ( (GAD Estimates Estimates) for all underwriting years commencing from the year ended March 31, 2008 to year ended ended March 31, 2012, with the option to recognise the same over a three year period. period. ICICI General had decided to recognise the additional liabilities of the Pool in FY2012 and therefore, the loss after tax of ICICI General of ` 4.16 bn for FY2012 includes the impact of additional Pool losse losses s of ` 6.85 bn Includes impact of third party motor pool losses in Q4Q4-2013 on account of actuarial valuation of the liability for the period FY2007 to FY2012 Source: IRDA

3. 4.

28

Other subsidiaries
(` billion) Profit after tax
ICICI Securities (Consolidated) ICICI Securities Primary Dealership ICICI Venture ICICI Prudential Asset Management

FY2012
0.78 0.86 0.68 0.88

FY2013
0.64 1.22 0.20 1.10

25.7% increase in consolidated profit after tax from ` 76.43 bn in FY2012 to ` 96.04 bn in FY2013
37.7% increase in consolidated profit after tax from ` 18.10 bn in Q4Q4-2012 to ` 24.92 bn in Q4Q4-2013

Consolidated return on average net worth for FY2013 at 14.7% compared to 13.0% for FY2012
Consolidated return on average net worth (annualised (annualised) annualised) for Q4Q42013 at 14.5% compared to 11.7% for Q4Q4-2012

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Key ratios

30

Key ratios (consolidated)

FY 2012 Return on average networth1,2 Weighted avg EPS (`)2 Book value (`)
1. 2.

(Percent)
Q32013 15.7 91.0 598 Q42013 14.5 87.6 607 FY 2013 14.7 83.3 607

Q42012 11.7 63.2 530

13.0 66.3 530

Based on quarterly average networth Annualised for all interim periods

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Key ratios (standalone)

FY Q42012 2012 Return on average networth1 Return on average assets1,2 Weighted avg EPS (`)1 Book value (`) Net interest margin1 Fee to income Cost to income CASA ratio (period end) Average CASA ratio
1. 2.

(Percent)
Q32013 13.6 1.76 77.4 582 3.07 31.0 39.5 40.9 37.4 Q42013 14.0 1.80 81.0 578 3.33 29.6 40.0 41.9 38.1 FY 2013 12.9 1.66 72.2 578 3.11 31.1 40.5 41.9 38.0

11.1 1.44 56.1 524 2.73 36.9 42.9 43.5 39.1

12.6 1.63 66.4 524 3.01 32.5 41.6 43.5 39.0

Annualised for all interim periods mark-toSince December 31, 2012, the Bank has presented the mark to-market gain or loss on forex and derivative transactions on gross basis. Figures for previous previous periods have been reclassified accordingly and return on average assets and cost cost to average assets have been rere-computed to reflect this change.

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Thank you

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