2010 10 UBS Conference

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ICICI Group: Strategy &

Performance

November 2010



2

Agenda

Financial performance

Bank of Rajasthan: status update

Update on economy

Strategy & execution



3

Agenda



Update on economy




4

Inflation continues to remain at elevated levels Inflation at 8.6% in September 2010

Policy tightening measures to contain inflation Repo rate increased by 100 bps to 6.0% and

reverse repo by 150 bps to 5.0% during April-

October 2010

Current indicators

GDP growth of 8.8% in Q1-2011 compared to

6.0% in Q1-2010 and 8.6% in Q4-2010

Improvement in growth to be aided by normal

monsoons

Growthmomentumcontinues

Inflationremains aconcern

Future policy actions to be determined by macroeconomicindicators



5

Banks net borrowers since June 2010

Reflected in rising bond yields and

wholesale deposit rates

Current indicators

Net FII inflows of ~USD 25 bn1 in April-

October 2010

Record inflow of USD 8.0 bn in September2010

BSE Sensex crosses 20,000; rise of 14.5% in

H1-2010

Strong

foreigncapital flows

Tightliquidity

conditions

1. SEBI, Data up to October 25, 2010

Being partly absorbed by the current account deficit; RBImonitoring exchange rate



6

Credit growth on year-to-date basis lower

than full year growth expectation Non-food credit growth at 13.4% (ytd

annualised) upto October 8, 2010

8.3% for same period last year

Current indicators

Deposit growth remains moderate Total deposits: 12.5% (ytd annualised) at

October 8, 2010 (16.4% at October 9, 2009)

Demand deposits: (-)9.4% (ytd annualised) atOctober 8, 2010 (3.4% at October 9, 2009)

Depositgrowth

Creditgrowth

Both deposit and lending rates moving up; expect creditgrowth to pick up in H2-2011



7

Agenda



Update on economy




8

Strategic path

FY2010

4Cs: CASA,

Costs, Credit

Quality &

Capital

FY2011

Pursue profitable growth

Position the

balance sheet

for growth

Capitalise on economic recovery and

leverage expanded branch network for

growth

Sustain achievements in rebalancing of

funding mix, credit quality improvement

and cost-efficiencies

Focus on customer service delivery



9

5Cs strategy for FY2011

Credit growth

Leverage strong capital basefor profitable growth

Costs

Optimise costs through the

growth phase

CASA

Leverage expanded branch

network (including e-BOR

branches) to maintain CASA

ratio

Customer service

Re-organise for customer

centricity with branch asprimary channel

Credit quality

Contain credit costs



10

Progress in Q2-2011

Traction in advances growth

Continued sequential expansion in credit book:

annualised growth in customer assets (excluding e-BoR) of 14%

Retail book flat after nine quarters of decline;

expected to grow in coming quartersModerate growth in international book

Robust annualised growth in domestic corporate

book



11

-

100

200

300

400

500

600

700

Mar-

03

Mar-

04

Mar-

05

Mar-

06

Mar-

07

Mar-

08

Mar-

09

Mar-

10

Sep-

10

Focus on CASA deposits

2,016

42.1%846.18

Jun2010

44.0%1.7%8.7%6.1%1.8%ASA ratio

2,501,707,419,26255ranches

981.051

842.1526.6837.8002.14ASA (` bn)

Mar2007

Mar2008

Mar2009

Mar

2010

Sep2010

CAGR 46%

Sa

n

d

p

ts(̀

b

Average CASA in Q2-2011: 39.2% (Q1-2011: 37.2%)

1. e-BoR CASA at August 12, 2010: ` 46.80 bn



12

Progress in Q2-2011

15.354.617.188.359.725.027.253.71perating &DMA1 expenses

41.0%0.0%7.0%3.4%0.0%2.5%4.9%5.7%ost/income

Q1-2011

FY2010

Q2-2011

FY2009

FY2008

FY2007

FY2006

FY2005

` bn

Co

a

ag

a

e

s

1. Direct marketing agency

2.2%

1.8%

1.6%1.6%

2.3%

2.5%

2.4%

2.3%

1.5%

1.7%

1.9%

2.1%

2.3%

2.5%

2.7%

FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 Q2-2011



13

Progress in Q2-2011

Continued improvement in asset quality

Net NPA ratio decreased to 1.37% at September 30, 2010

from 1.62% at June 30, 2010 (September 30, 2009:2.19%)

Restructured loans declined to ` 25.78 bn at September

30, 2010 from ` 37.37 bn at June 30, 2010

Provisioning coverage ratio increased to 69.0% at

September 30, 2010 from 64.8% at June 30, 2010



14

Progress in Q2-2011

Reaching out in regional languages Hindi website and IVR in Marathi launched LCD display at branches in 11 languages

Enhancedreach

Priority access and processing for wealth

and privileged banking customers 51 specialised wealth branches launched

30 mega branches enabled to providesegmented service to corporate clients

Differentiatedexperience

Triad connectivity between branches,

operations and phone banking forimmediate query resolution for exceptions

Improvingservice

Customer service initiatives



15

FY2011: International business

Focus on growing remittances business Market share of about 18%

Retailbusiness

Build a stable & diversified funding base Grow deposit base in branches e.g. by

leveraging recent qualified full bankinglicense received in Singapore

Tap long term sources of funding (bonds &

and syndicated loans) in a calibrated mannerto diversify funding

Fundingfranchise

Continue to pursue India-linked credit

opportunities

Leverage domestic relationships Focus on trade finance including select non-

India exposures linked to trade with India

Lending &trade



16

FY2011: Non-banking subsidiaries

Develop a sustainable model for growth and

profitability

Maintain market position

ICICI Life

Focus on maintaining leadership, while

improving underwriting profitabilityCICI General

Maintain market position among the topthree mutual funds

CICI AMC

Capitalize on retail broking platform and

market opportunities to increase revenuesand profitability

ICICISecurities



17

Agenda



Update on economy




18

Status update

Integration

status

Merger effective from close of business on August 12, 2010

IT connectivity established Basic anywhere banking enabled and ATM

connectivity established Internet banking to be enabled in Q3-2011

Integration of all back-end processes before

end of FY2011

Retail deposit mobilisation & advancesprocessing currently on

Maintained continuity in products and charge

structures

All ~3,900 employees smoothly integrated asICICI Bank employees



19

Agenda



Update on economy




20

Performance highlights

Net interest income up 8.3% year-on-year Increase in net interest margin from 2.5% in Q2-2010

to 2.6% in Q2-2011

Increase in fee income by 14.6% from ` 13.87 bn in

Q2-2010 to ` 15.90 bn in Q2-2011Provisions reduced by 40.2% from ` 10.71 bn in Q2-

2010 to ` 6.41 bn in Q2-2011

Increase in consolidated profit after tax by 21.8% to` 13.95 bn1 in Q2-2011 from ` 11.45 bn in Q2-2010

18.8% increase in profit after tax from ` 10.40 bn inQ2-2010 to ` 12.36 bn in Q2-2011

1. ` 15.83 bn including non-par surplus of ICICI Life



21

SME

4%

Rural

7%

Retail

business

group

40%

Overseas

branches25%

Domestic

corporate

24%

Composition of total loan book

Total loan book: ` 1,942 bnTotal loan book: ` 1,844 bn

1. Retail business group includes builder loans and dealer

funding

S M E

4 %

R u r a l

9 %

Re ta i l

b u s i n e s s

g r o u p

4 1 %

O v e r s e a s

b r a n c h e s2 6 %

D o m e s t i c

c o r p o r a t e

2 0 %

At June 30, 2010 At September 30, 2010

1 1



22

Composition of retail loan book

Total retail loan book: ` 781 bnTotal retail loan book: ` 763 bn

1. June 30, 2010 :Vehicle loans includes auto loans 10%and commercial business 16%

2. September 30, 2010 :Vehicle loans includes auto loans

9% and commercial business 15%


V e h i c l e

l o a n s

2 6 % H o m e6 2 %

P e r s o n a l

l o a n s

5 %

O t h e r

s e c u r e d

2 %

C r e d i t

c a r d s

5 %

Vehicle

loans

24% Home

65%

Personal

loans

4%ther

secured

3%

Credit

cards

4%

1 2



23

Asset quality and provisioning

Gross retail NPLs at ` 67.99 bn and net retail NPLs at ` 17.12bn at September 30, 2010

Net restructured loans of ` 25.78 bn at September 30, 2010

Outstanding general provision on standard assets: ` 14.80 bnat September 30, 2010

Provisioning coverage ratio of 69.0% at September 30, 2010computed in accordance with RBI guidelines

(` billion)

1.62%

35.1464.63

99.77

June 30

2010

2.19%

45.5849.13

94.71

September

30, 2009

1.37%

31.9270.41

102.33

September

30, 2010

Net NPA ratio

Net NPAsLess: Cumulative provisions

Gross NPAs



24

Key ratios

9.70.7.6.1.5.6eturn on average net worth1,2

(Consolidated basis)

1.6.6.6.6.5.6ost to average assets (incl.

DMA)2

36.9%

36.7

34.5

2.4

460

34.4

1.0

7.5

H1-

2010

42.1%

40.0

38.7

2.5

474

36.9

1.2

7.9

Q1-

2011

1.2.3.2.1eturn on average assets2

44.0%4.0%6.9%1.7%ASA ratio

36.1

36.4

2.5

460

37.1

8.1

Q2-

2010

41.0

42.4

2.6

470

43.3

9.2

Q2-

2011

40.5

40.6

2.6

470

40.2

8.5

H1-

2011

36.6ee to income

37.0

2.5

463

36.1

7.9

FY

2010

Book value (`)

Cost to income (incl. DMA)

Net interest margin2

Weighted avg EPS (`)2

Return on average net worth1, 2

(Percent)

1. Based on quarterly average net worth

2. Annualised for all interim periods



25

Certain statements in these slides are forward-looking statements.

These statements are based on management's current expectations and

are subject to uncertainty and changes in circumstances. Actual results

may differ materially from those included in these statements due to a

variety of factors. More information about these factors is contained in

ICICI Bank's filings with the Securities and Exchange Commission.

All financial and other information in these slides, 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 BankLimited and its subsidiaries. Please also refer to the statement of

unconsolidated, consolidated and segmental results required by Indian

regulations that has, along with these slides, been filed with the stock

exchanges in India where ICICI Bank’s equity shares are listed and w ith

the New York Stock Exchange and the US Securities ExchangeCommission, and is available on our website www.icicibank.com.



26

Thank you



27

Unconsolidated financials



28

Profit & loss statement

-9.2%44.0022.1221.8849.6424.3597.32Operating profit

-23.9%.57.35.22.98.46.42ease depreciation

-0.401.44.040.11.971.81Treasury income

0.71

29.25

74.53

2.95

30.03

32.58

41.95

H1-

2011

0.21

13.58

38.60

1.40

13.87

18.24

20.36

Q2-

2010

0.48

28.25

79.35

1.97

27.06

39.14

40.21

H1-

2010

0.35

15.00

37.82

1.32

15.90

15.78

22.04

Q2-

2011

1.25

55.93

155.92

6.47

56.50

74.78

81.14

FY

2010

0.36

14.25

36.71

1.63

14.13

16.80

19.91

Q1-

2011

-2.0%Total income

66.7%

10.5%

-5.7%

14.6%

-13.5%

8.3%

Q2-o-Q2

growth

DMA expenses

Operating expenses

- Other income

- Fee income

Non-interest income

NII

(`

billion)



29

Profit & loss statement

40.25

13.20

53.4543.87

97.32

FY2010

10.40

3.24

13.6410.71

24.35

Q2-

2010

19.18

6.51

25.6923.95

49.64

H1-

2010

(9.2)%44.0022.1221.88Operating profit

12.36

3.35

15.716.41

Q2-

2011

22.62

6.99

29.6114.39

H1-

2011

(40.2)%.98rovisions

10.26

3.64

13.90

Q1-

2011

18.8%

3.4%

15.2%

Q2-o-Q2

growth

Profit before tax

Profit after tax

Tax

(` billion)



30

Balance sheet: Assets

(10.5)%96.8202.2078.34SLR investments

0.8%22.0022.0021.00

- Equity investment in

subsidiaries

3,663.74

262.82

1,908.60

1,199.65

292.67

September

30, 2009

13.6%,362.75,275.71nvestments

3,639.97

216.03

1,843.78

304.45

June 30,

2010

3,899.98

246.74

1,942.01

348.48

September

30, 2010

6.4%

(6.1)%

1.8%

19.1%

Y-o-Y

growth

Total assets

Fixed & other assets

Advances

Cash & bank balances

(` billion)

Investment in security receipts of asset reconstruction companiesat September 30, 2010 was ` 30.95 bn

Credit derivative exposure (including off balance sheet exposure)of ` 45.06 bn at September 30, 2010 (underlying comprises Indiancorporate credits)

Including impact of exchange rate movement



31

Equity investment in subsidiaries

121.00

0.14

0.05

0.61

0.87

1.58

3.00

10.96

11.12

23.25

33.50

35.93

September

30, 2009

122.00

0.14

0.05

0.61

1.87

1.58

3.00

10.96

11.12

23.25

33.50

35.93

June 30,

2010

11.12CICI Home Finance

23.25CICI Bank UK

0.61CICI AMC

33.50CICI Bank Canada

3.00CICI Bank Eurasia LLC

10.96CICI Lombard General Insurance

1.58CICI Securities Primary Dealership

0.14thers

122.00

0.05

1.87

35.93

September

30, 2010

Total

ICICI Venture Funds Mgmt

ICICI Securities Limited

ICICI Prudential Life Insurance

(` billion)



32

Balance sheet: Liabilities

28.2%32.4865.4693.18Savings

47.6%48.5780.7236.12Current

3,663.74

171.61

1,001.23

1,978.32

501.44

11.14

512.58

September

30, 2009

3,639.97

152.64

949.97

2,009.13

517.07

11.16

528.23

June 30,

2010

3,899.98

159.19

970.10

2,230.94

528.24

11.51

539.75

September

30, 2010

6.4%

(7.2)%

(3.1)%

12.8%

5.3%

3.3%

5.3%

Y-o-Y

growth

Borrowings1

Total liabilities

Other liabilities

Deposits

- Reserves

- Equity capital

Net worth

(` billion)

Credit/deposit ratio of 68% on the domestic balance sheetat September 30, 2010

Including impact of exchange rate movement

1. Borrowings include preference shares amounting to ` 3.50 billion





34

Capital adequacy (Basel II)

736.0284.4539.11Off balance sheet

2,430.78,335.93,501.21On balance sheet

3,020.37

187.22

422.97

610.19

` bn

June 30, 2010

6.2%

14.0%

20.2%

%

6.4%

13.8%

20.2%

%

3,166.80

204.02

436.55

640.57

` bn

September 30,

2010

3,240.32

141.67

431.42

573.09

` bn

September 30,

2009

4.4%

13.3%

17.7%

%

Risk weighted assets

- Tier II

- Tier I

Total Capital

Basel II



35

Overseas subsidiaries



36

Loans &

advances

55%

Asset backed

securit ies

2%

Other assets &

investments

6%

India l inkedinvestments

4%

Cash & liquid

securit ies

15 %

Bonds/notes offinancial

institutions

18%

`

ICICI Bank UK asset profile

1. Includes cash & advances to banks, T Bills and CDs2. Includes India-linked credit derivatives of US$ 121 mn at

September 30, 2010 (US$ 138 mn at June 30, 2010)3. Includes securities reclassified to loans & advances4. Does not include US$ 137 mn of ABS reclassified

as loans & receivable in FY2009

Total assets: USD 7.2 bn

1

2

3

4


Total assets: USD 6.9 bn

Bonds/notesof financial

institutions

18%

Cash & l iq uid

securities

12 %

India l i nkedinvestments

5%

Other assets &

investments

6%sset backed

securities

2%

Loans &

advances

57 %

`

3

1

4

2



37

ICICI Bank UK liability profile

Total liabilities: USD 7.2 billion

L o n g t e rm D e b t

1 0 %

N e t w o r th

9 %

T e r m d e p o s i ts

5 1 %

O t he r

l i a b i l i t i e s

6 %

S y n d i c a t e d

l o a n s &

i n t e r b a n k

b o r r o w i n g s

8 %

D e m a n d

d e p o s i t s

1 6 %


Long term

Debt

10 %

Net worth

9%

Term deposits

46%

Other l iab il i t ies

5%

Syndicated

loans &

interbank

borrowings

11%

Demand

deposits

19%`

Total liabilities: USD 6.9 billion

Profit after tax of USD 8.4 million in Q2-2011

Capital adequacy ratio at 18.3%

Net MTM writeback of USD 4.1 million (post-tax) in reserves inQ2-2011

Proportion of retail term deposits in total deposits at 75% atSeptember 30, 2010



38

Cash & liquid

securit ies

16%

Federally

insured

mortgage

4%

Other assets &

investments

7%

Asset backed

securities

2%

India linked

investments

3%

Loans to

customers

68%

`

ICICI Bank Canada asset profile

1. Includes cash & advances to banks and governmentsecurities

2. Includes India-linked credit derivatives of CAD 88 mn at

September 30, 2010 (CAD 104 mn at June 30, 2010)

Total assets: CAD 5.0 bn

2

1


Total assets: CAD 5.2 bn

C a s h & l i q u i d

s e c u r i t i e s

1 3 %

F e d e r a l l y

i n s u r e d

m o r t g a g e

7 %

O t h e r a s s e t s

& in v e s t m e n t s

7 %

A s s e t b ac k e d

s e c u r i t i e s

2 %

I n d i a li n k e d

i n v e s t m e n t s

3 %

L o a n s t oc u s t o m e r s

6 8 %

`

2

1



39

ICICI Bank Canada liability profile

Total liabilities: CAD 5.0 billion

B o r r o w i n g s

1 %

N e t w o r t h

1 9 %

D e m a n d

d e p o s i t s

1 5 %

O t he r l i a b i l i t i e s

3 % T e r m d e p o s its

6 2 %

Profit after tax of CAD 7.6 million in Q2-2011

Capital adequacy ratio at 22.9%


Total liabilities: CAD 5.2 billion

Borrowings

1%

Net worth

19%

Demand

deposits

15 %

Other

l iab i l i t ies

3%Term depo sits

62%



40

Other assets &

investments

2%

Retail loans

18%

Promissory

notes

1%

Cash & cash

equivalents

37%

Corporate

bonds

4%

Loans to

corporates &

banks

38%

Other assets &

investments

3%

Corporate

bonds

3%

Promissory

notes

10%

Cash & cashequivalents

18%

Retail loans

22%

Loans to

corporates &

banks

44%

ICICI Bank Eurasia asset profile

Total assets: USD 274 mn

1. Includes cash & call placements with banks,

balances with central bank and nostro balances

Total borrowings of USD 168 million at September 30, 2010

Capital adequacy of 37.7% at September 30, 2010

1


Total assets: USD 353 mn

1



41

Domestic subsidiaries



42

ICICI Home Finance

Total assets/liabilities: ` 100.81 billion

Net profit of ` 0.54 billion in Q2-2011 compared to ` 0.28billion in Q2-2010 Capital adequacy ratio of 19.8% at September 30, 2010 Net NPA ratio: 1.4%

Fixed & other

assets

1%

Loans

95%

Investments

4%

Deposits

29%

Borrowings

58%

Shareholdersfunds

13%



43

ICICI Life

654.8400.93ssets Under Management

0.151(0.69)tatutory profit/ (loss)

18.9%9.2%BP margin

2.54.33ew Business Profit (NBP)

22.643.11enewal premium

13.442.12nnualised premium equivalent (APE)

8.0%0.8%xpense ratio2

38.736.33otal premium

Q2-2011Q2-2010

(` billion)

Continued market leadership in private sector3

1. For Q2-2011, there was a surplus of ` 2.54 billion in the non-participating policyholders’ funds. Thesurplus in the non-participating funds would be available to be transferred to the shareholders account atthe end of the financial year based on the appointed actuary’s recommendation. Including this surplus,

the net profit after tax for the Q2-2011 would have been ` 2.69 billion2. Expense ratio: All expenses (excl. commission and front line sales cost) / (Total premium – 90% of Single

Premium)3. During April 2010 – September 2010 on new business retail weighted received premium basis



44

ICICI General

Continued market leadership in private sector2

1. Excluding remittances from third party motorpool and including premium on reinsuranceaccepted

2. For the period April 2010 - September 2010

1.04.51AT

10.91.01ross premium1

Q2-2011Q2-2010(`

billion)



45

Other subsidiaries

0.54.28CICI Home Finance

0.48

0.14

-

0.38

Q2-2010

0.14CICI Prudential Asset ManagementCompany

0.29CICI Securities Ltd.

0.22

(0.02)

Q2-2011Profit after tax

ICICI Venture

ICICI Securities PD

Consolidated profit after tax increased by 21.8% to ` 13.95billion in Q2-2011 compared to ` 11.45 billion in Q2-2010

If the surplus of ` 2.54 bn in the non-participatingpolicyholders’ funds of ICICI Life were transferred in Q2-2011, the Bank's consolidated profit after tax for Q2-2011

would have been ` 15.83 billion

(` billion)



46

Thank you

Documents

2010 10 UBS Conference