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ICICI Bank 5Cs Strategy to Grow

icicibank We received an email from ICICI bank which talked of their 5 pronged strategy to grow and same is clearly spelt in the email which provides a great insight into the functioning of the bank.

The email is as appended below which has been sent by an executive director. The financial year 2012-2013 (fiscal 2013) has been a challenging year in the context of the operating environment. Despite the challenges, your Bank, with your continued support and patronage, has been able to successfully execute its strategy and is now very well positioned to further build on this progress.

During fiscal 2011, we had articulated our 5Cs strategy: Credit growth, Current and Savings account (CASA) deposits growth, Cost efficiency, Credit quality improvement and strong focus on Customer service. I am happy to report that we have continued to progress on each of these parameters in fiscal 2013 as well.

Credit growth: Our total advances increased from  2,53,728 crore at March 31, 2012 to  2,90,249 crore at March 31, 2013. This represented a 14.4% growth in advances on a year-on-year basis.

Current and Savings account: Our CASA deposits as a proportion of the total deposits was 41.9% as on March 31, 2013. Our savings deposits have grown by 9,605 crore or 13% during fiscal 2013.

Cost efficiency: For fiscal 2013, our cost-to-income ratio was at 40.5% which is one of the best efficiency ratios among the private sector banks in the country today.
Credit quality: Our net NPA ratio at March 31, 2013 was 0.64% compared to 0.62% at March 31, 2012 reflecting stable trends in our asset quality.

Customer service: This continues to be a key focus area of your Bank. We continued to execute and implement the overall strategy of Khayaal Aapka to deliver a superior transaction and relationship experience for our customers. To facilitate ease of transaction, we expanded our branch and ATM network to increase customer access. I am happy to inform you that we increased our branch network to 3,200 branches and over 10,000 ATMs. Your Bank has also been focusing on providing increased functionality and convenience to our customers through various technology channels. These include 24 x 7 Electronic Branches which can be used for conducting all banking transactions. Your Bank also launched a unique MySavings Rewards program under which all savings accounts customers can earn rewards on their regular banking transactions. Further, the Bank's Facebook initiative continues to be appreciated by customers, with the fan base for the ICICI Bank Facebook page reaching over 2 million fans.

As a result of the progress on our 5Cs strategy, we have been able to achieve a profit after tax of  8,325 crore for fiscal 2013, representing a 29% increase over the previous year. Our consolidated profit after tax has increased by 26% in fiscal 2013 to  9,604 crore. The strong results achieved by your Bank also reflected in a higher level of proposed dividend of  20.00 per equity share to the shareholders for fiscal 2012 compared to  16.50 per equity share for the previous year.

I would also like to mention that the Bank, with a net worth of  66,706 crore, is adequately capitalised to continue serving the opportunities arising out of India's economic development. At the same time, we are also committed to the national priority of increasing financial inclusion and bringing the unbanked population into the economic mainstream. At March 31, 2013, we had about 14.9 million financial inclusion accounts with over 13,500 villages under the coverage of our financial inclusion plan.

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