Icici Bank Comparison with other banks

IITM Journal of Business Studies (JBS) Vol. 1, Issue 1, 2014

AN EMPIRICAL STUDY OF FINANCIAL PERFORMANCE OF ICICI BANK- A COMPARATIVE ANALYSIS

Ms. Shikha Gupta

Assistant Professor (Finance & Marketing),Institute of Innovation in Technology and Management, Janakpuri. New Delhi.

E-Mail- [email protected]

ABSTRACT

In todays financial world, financial performance is a mundane amongst the perspective of various

stakeholders, be it in the management, lenders, owners and investors perspective. And it is out of

analysis of financial statements. Financial performance is crucial for taking financial decisions

related to planning and control. Hence, it forms the basis as one of the paramount importance for

taking financial decisions effectively.

Banking Sector plays an important role in economic development of a country. The banking system

of India is featured by a large network of bank branches, serving many kinds of financial services of

the people Industrial Credit and Investment Corporation of India (ICICI) Bank today is a leading

player in Indian banking industry and is deeply engaged in human and economic development at the

national level. The Bank works closely with ICICI Foundation across diverse sectors and programs.

As of 2014 it is the second largest bank in India in terms of assets and market capitalization. ICICI

bank emerged as a pioneer venture on the horizon of offering an expanded range of banking

products and financial services for corporate and retail customers through its diverse delivery

channels and specialized subsidiaries in the areas of investment banking, asset management, venture

capital and insurance. In the light of its strategic importance in the nation interest, it is crucial to

evaluate the financial performance of the ICICI Bank. And the present study focused on operational

control, profitability and solvency etc. This research paper is aimed to analyse and compare the

Financial Performance of ICICI Bank and offer suggestions for the improvement of efficiency in the

bank.

Keywords:Advances, ICICI, financial performance, Solvency, Investment banking, Leverage Ratio


INTRODUCTION

Today a large section of people, who have

minimal financial literacy, are keen to know the

financial performance status of the banks where

their deposits are vested. They may be as an

investor, manager, employee, owner, lender,

customer, government and public at large.

Financial performance is not airily available

from the records and files in any organisation. It

has to be derived by the usage of financial

statement analysis techniques. The selection and

usage of technique is subject to the option of the

user. Some of the important and commonly used

techniques are: Ratio Analysis, Cross section

analysis Comparative statement analysis, Time

series analysis, Common size analysis, and

DuPont Analysis. The usefulness of ratios

depends on skilful interpretation and intelligence

of the user. The present study is devoted to

analyse the financial performance of ICICI Bank

by using ratio analysis with a view to give

meaningful interpretations for the stakeholders

of the selected company.

Industry profile: An efficient banking system is

recognized as basic requirement for of any

economy as they play crucial role in the

economic development of an economy. Banks

mobilize the savings of community into

productive channels. The Indian banking system

is featured by a large network of bank branches,

serving many kinds of financial needs of the

people. It is currently in a transition phase. On

the one hand, the PSBs, which are the mainstay

of the Indian Banking system, are in the process

of shedding their flab in terms of massive

manpower, excessive Non Performing Assets

(NPAs), while on the other hand the private

sector banks are consolidating themselves

through mergers and acquisitions. PSBs share is

78 and 79 percent in total deposits and advances

respectively. Over the last four years their

deposits and advances have grown 2.2 and 2.3

times respectively.(The Indian Express Sep 03

2011).

Company Profile:

ICICI Bank was originally promoted in 1994 by

the Industrial Credit and Investment Corporation

of India (ICICI), an Indian financial institution,

as a wholly owned subsidiary. ICICI Limited, an

Indian financial institution, and was its wholly-

owned subsidiary. ICICI was formed in 1955 at

the initiative of the World Bank, the

Government of India and representatives of

Indian industry. The bank was initially known as

the Industrial Credit and Investment Corporation

of India Bank, before it changed its name to the

abbreviated ICICI Bank. The parent company

was later merged with the bank. ICICI Bank

launched internet banking operations in 1998

ICICI Bank Ltd is a major banking and financial

services organization in India. The Bank is the

second largest bank in India and the largest

private sector bank in India by market

capitalization. They are a publicly held banking


company engaged in providing a wide range of

banking and financial services including

commercial banking and treasury operations.

The Bank and their subsidiaries offers a wide

range of banking and financial services

including commercial banking, retail banking,

project and corporate finance, working capital

finance, insurance, venture capital and private

equity, investment banking, broking and treasury

products and services. They offer through a

variety of delivery channels and through their

specialised subsidiaries in the field of investment

banking, life and non-life insurance, venture

capital and asset management. The Bank has a

network of 2,035 branches and around 5,518

ATMs in India and presence in 18 countries.

They have subsidiaries in the United Kingdom,

Russia and Canada, branches in United States,

Singapore, Bahrain, Hong Kong, Sri Lanka,

Qatar and Dubai International Finance Centre

and representative offices in United Arab

Emirates, China, South Africa, Bangladesh,

Thailand, Malaysia and Indonesia. ICICI Bank is

India's largest private sector bank with total

assets of Rs. 5,946.42 billion (US$ 99 billion) at

March 31, 2014 and profit after tax Rs. 98.10

billion (US$ 1,637 million) for the year ended

March 31, 2014. In 2000, ICICI Bank became

the first Indian bank to list on the New York

Stock Exchange with its five million American

depository shares issue generating a demand

book 13 times the offer size. The bank has

contributed to the set up of a number of Indian

institutions like National Stock Exchange of

India (NSE), Credit Rating Information Services

of India Limited (CRISIL), National Commodity

& Derivatives Exchange Limited (NCDEX),

Entrepreneurship Development Institute of India

(EDII) etc. to establish financial infrastructure in

the country over the years. ICICI Bank's equity

shares are listed in India on Bombay Stock

Exchange and the National Stock Exchange of

India Limited and its American Depositary

Receipts (ADRs) are listed on the New York

Stock Exchange (NYSE).

Companys Vision: ICICI Banks vision is To

be the leading provider of financial services in

India and a major global bank. In other words,

its vision is to be the preferred bank for total

financial and banking solutions for both

corporate and individuals.

For over five decades, the ICICI Group has

partnered India in its economic growth and

development. Promoting inclusive growth has

been a priority area for the Group from both a

social and business perspective. The ICICI

Group strives to make a difference to its

customers, to the society and to the nations

development directly through its products and

services, as well as through development

initiatives and community outreach.

ICICI Foundation for Inclusive Growth (ICICI

Foundation) was founded by the ICICI Group in

early 2008 to carry forward and build upon its

legacy of promoting inclusive growth. ICICI

Foundation works within public systems and


specialised grassroots organisations to support

developmental work in four identified focus

areas

Companys Mission: ICICI Banks Mission is to

leverage their people, technology, speed and

financial capital to:

Be the banker of first choice for their

customers by delivering high quality,

world-class products and services.

Expand the frontiers of their business

globally.

Play a proactive role in the full

realisation of Indias potential.

Maintain a healthy financial profile and

diversify their earnings across businesses

and geographies.

Maintain high standards of governance

and ethics.

Contribute positively to the various

countries and markets in which they

operate.

Create value for their stakeholders.

I. REVIEW OF LITERATURE

Reddy K. Sriharsha (2012) analysed relative

performance of banks in India using CAMEL

approach. It is found that public sector banks

have appreciably improved indicating positive

impact of the reforms in liberalizing interest

rates, rationalizing directed credit and

Investments and increasing competition.

Joseph Jelsy and Vetrivel, (2012) have studied

the financial performance in connection with

Activity Based Costing, and concluded that

better cost predictions, loss making products are

identified. The ABC can be used for cost

reduction, DSS( Decision Support System)

budgeting and better performance measurement

in order to improve the financial performance of

the companies.

Aggarwal Nisha, Gupta Neeti - ICICI provides

full assistance to the creation, expansion and

modernization of industrial enterprises within

the private sector in India and encourages the

participation of private capital, both internal and

external, in such enterprises.

Khan M. Y.- Recently ICICI Ltd. (along with

two of its subsidiaries, ICICI Personal Finance

Services Ltd. and ICICI Capital Services Ltd.)

has been merged with ICICI bank Ltd; effective

from May3, 2002. The erstwhile DFI has thus

ceased to exist. Its main objective is to

encourage and promote private ownership of

industrial investment and expansion of

investment markets.

Singh A.B., Tondon P. (2012) examined the

financial performance of SBI and ICICI Bank,

public sector and private sector respectively. The

study found that SBI is performing well and

financially sound than ICICI Bank but in context

of deposits and expenditure ICICI bank has

better managing efficiency than SBI.


Srinivas K., Saroja L.(2013) compared and

analyzed the Financial Performance of HDFC

and ICICI Bank . For the purpose of analysis of

comparative financial performance of the

selected banks using CAMELS model with t-

test. The result showed that there is no

significance difference between the ICICI and

HDFC banks financial performance but the

ICICI bank performance is slightly less

compared with HDFC.

STATEMENT OF PROBLEM

No research is completed until it has formulated

a specific problem. The problem of the study is

to analyze the financial status of ICICI Bank

Ltd.

Objectives of the study:

To know the growth rate of the company

in terms of turnover, share capital, PAT,

net worth, nets assets and investments

during the study period.

To assess the profitability

To assess short and long-term solvency

To judge the utilization of its resources.

II. RESEARCH METHODOLOGY

The period of evaluating financial performance

of ICICI bank ranging from 2009-10 to 2013-14

i.e. for five years. Secondary data is collected

from annual reports of the company in Table 4

(Dion Global Solutions Limited) and online

database. To analyze the data the standard tool

ratio analysis is applied for the study. For

evaluating the financial performance and better

controlling the activities of the ICICI bank, the

ideal norms are industry average ratios.

III. DATA ANALYSIS AND FINDINGS

The growth rate of the selected company in

terms of PAT, turnover, share capital, net worth,

investments, total assets are furnished in table 2.

It is observed from the table 2 that the growth

rate of profit, share capital and reserve & surplus

over last five years are 143.72%, 3.58% and

42.66% respectively. The interest earned is

44,178.15cr as compared to 41,155.53cr,

30,641.16cr, 8,767.12cr and 8,253.53cr of

HDFC Bank, Axis Bank, Kotak Mahindra and

IndusInd Bank respectively for Mar,14.

The financial performance of the ICICI Bank has

been analyzed by grouping the financial ratios in

four broad categories viz; Liquidity ratios,

profitability ratio and activity ratio as it is an

important technique of financial

statement analysis. They are useful

for understanding the financial position of the

company.

Liquidity Ratios: Ratios provide in a

summarized and concise form of fairly good idea


about the financial position of a unit. They are

important tools for financial analysis. Liquidity

ratios measure the availability of cash to pay

maturing current obligations.

Current Ratio: The current ratio is a liquidity and

efficiency ratio that measures a firm's ability to

pay off its short-term liabilities with its current

assets. The current ratio is an important measure

of liquidity because short-term liabilities are due

within the next year. The ideal current ratio is

2:1 i.e. current assets must be twice of current

liabilities. In case this ratio is less that the ideal

ratio of 2:1, the short term financial position is

not supposed to be very sound. And in case it is

more than the ideal one, than it shows idleness

of working capital. The current ratio is presented

in table 3.

From the table 3 it has been observed that there

is ups and down during the study period. The

current ratio of ICICI bank is lower than the

standard norm (2:1) throughout the study period

and shows the banks ability to pay its current

liabilities is not sound enough. The current Ratio

or liquid ratio of the bank for the study period

are; 0.09, 0.98, 0.12, 0.07, 0.14 respectively.

There is high modulation in liquidity ratio of the

bank. Hence, the analysis gives the exact result

and provides a way to the management to take

remedial steps to control and improve the

extreme deviations the solvency position of the

company.

Quick Ratio/ Acid test ratio: The Quick Ratio

attempts to measure the ability of the firm to

meet its obligations relying solely on its more

liquid Current Asset accounts such as Cash and

Accounts Receivable. This ratio is calculated by

dividing Current Assets less Inventories by

Current Liabilities. The ideal quick ratio is 1:1

i.e, liquid assets must be ideally equal to the

current liabilities. In case the ratio falls short of

1:1 than it depicts weak short term financial

position and vice versa. The current ratio of

ICICI Bank for the study period is shown in

Table 3.

From the table 3 it is eminent that the acid test

ratio of ICICI is in multiples of standard norm

i.e. 1:1 during the study period. The quick ratio

of ICICI Bank is 11.31, 10.53, 9.37, 15.86, and

14.70 respectively during the study period. This

reveals the healthy sign in its solvency position

and if look at the other side it symbolize the

ineffective financial management.

Leverage ratios: The ratio used to calculate the

financial leverage of a company to get an idea of

the company's methods of financing or to

measure its ability to meet financial obligations.

There are several different ratios, but the main

factors looked at include debt, equity, assets and

interest expenses. The Debt Ratio, Debt-Equity

Ratio, and Equity Multiplier are essentially three

ways of looking at the same thing: the firm's use

of debt to finance its assets. The most well

known financial leverage ratio is the debt-to-


equity ratio (Total Debt to Owners Fund) viz.

used in the current study.

Total Debt to Owners Fund (DER): A measure

of a company's financial leverage calculated by

dividing its total liabilities by stockholders'

equity. It indicates what proportion of equity and

debt the company is using to finance its assets. It

measures the long term solvency of the firm.

Normally DER of 2:3 or 0.67 is considered as

satisfactory. The Total Debt to Owners Fund is

shown in Table 3.

From the table 3, The Total Debt to Owners

Fund of ICICI Bank is 4.53, 4.39, 4.23, 4.10 and

3.91 respectively for the study period. By

analysing these figures it is clear that the bank is

highly levered. A higher proportion is not

considered as good and its an indication of early

warning signal for insolvency of the firm. By

observing the data it is clear that the bank uses

too much debt in its capital structure.

Profitability Ratio: A profitability ratio is a

measure of profitability, which is a way to

measure a company's performance. It can be

derived by either on sales or investments.

Profitability is simply the capacity to make a

profit, and a profit is what is left over from

income earned after you have deducted all costs

and expenses related to earning the income. It

includes profit margin, ROI, ROA, ROE, Net

profit after tax to net worth. In this study EPS

has been used to assess the profitability of the

company. The processed information regarding

EPS has been furnished in Table 3.

EPS (Earning Per Share): Earnings per share is

generally considered to be the single most

important variable in determining a share's price.

It is also a major component used to calculate

the price-to-earnings valuation ratio i.e. whether

the company is able to use its equity share

capital effectively while comparing with other

companies in the industry. It is the portion of a

company's profit allocated to each outstanding

share of common stock. Earnings per share serve

as an indicator of a company's profitability.

From table 3, it is observed that the growth of

profit after tax is excellent throughout the study

period. And EPS has amplified from 36.10 to

84.94. Hence it can be inferred that the banks

overall performance is quite good over the years

in effective utilization of its equity share capital.

While looking at EPS of the bank, it is clear that

it is increasing progressively during the study

period.

Dividend Payout Ratio: The DP ratio provides

an idea of how well earnings support the

dividend payments. More mature companies

tend to have a higher payout ratio. It is the

percentage of earnings paid to shareholders in

dividends. The ratio has great importance to the

shareholders and management. The higher the

ratio, the better it is. The processed information

pertaining to the ICICI Bank is given in Table 3.


From the table 3, it is observed that the range of

DP Ratio is

27.07, 27.71, 29.41, 31.30, and 37.30

respectively. The DP ratio is declining over the

years and reduction in dividends paid is looked

poorly upon by investors, and the stock price

usually depreciates as investors seek other

dividend-paying stocks.

Activity Ratio: Activity ratios are used to

measure the relative efficiency of a firm based

on its use of its assets, leverage or other such

balance sheet items. These ratios are important

in determining whether a company's

management is doing a good enough job of

generating revenues, cash, etc. from its

resources. These includes Debtor turnover ratio,

inventory turnover ratio and total assets turnover

ratio. But in this paper Asset Turnover Ratio and

Total Assets Turnover Ratio were applied to test

the effectiveness of the bank.

Asset Turnover Ratio: The Asset Turnover ratio

is an indicator of the efficiency with which a

company is deploying its assets. In other words,

the amount of sales or revenues generated per

unit of assets. It can be said that the higher the

ratio, the better it is, since it implies the

company is generating more revenues per unit of

assets. The statistics regarding Asset turnover

ratio is enlisted in table 3.

From table 3, it is observed that the range of

Asset Turnover Ratio of ICICI bank is 0.08,

0.08, 0.08, 0.07 and 0.10 respectively which is

quite stable and a good sign.

Total Assets Turnover Ratios: The Total Assets

Turnover Ratio is a financial ratio that measures

the efficiency of a company's use of its assets in

making sales revenue. This ratio considers all

assets, current and fixed. Those assets

include fixed assets, like plant and equipment, as

well as inventory, accounts receivable, as well as

any other current assets. The lower the total asset

turnover ratio, as compared to historical data for

the firm and industry data, the more sluggish the

firm's sales. This may indicate a problem with

one or more of the asset categories composing

total assets - inventory, receivables, or fixed

assets. The Total Assets Turnover Ratio of ICICI

bank is shown in table 3.

From the table 3, it is clear that the Total Assets

Turnover Ratio if the bank is 0.07, 0.07, 0.06,

0.08 and 0.09 respectively for the study period.

Initially it was surged from 0.09 to 0.06 in two

years but has revived again. This means the

efficiency of the management has been

improved a lot.

Findings:

After the study of the components of current

assets & current liabilities and the trends of

working capital, it was found that:

The liquidity position of the bank is not

good. The current ratio is below 1

(current liabilities exceed current assets)


for the study period, then the bank may

have problems paying its bills on time.

However, low values do not indicate a

critical problem but should concern the

management.

The DER is quite high viz. worrisome, as

it indicates a precarious amount of

leverage. To address this concern, bank

can also analyze the firm's interest

coverage ratio, which is the company's

operating income divided by debt service

payments. A high operating income will

allow even a debt-burdened firm to meets

its obligations.

A consistent improvement in the EPS

figure year after year from 36.10 to 84.94

is the indication of continuous

improvement in the earning power of the

bank. This increasing EPS is the sign of

higher earnings, strong financial position

and, therefore, a reliable firm to invest

money.

Asset turnover ratio should be looked at

together with the company's financing

mix and its profit margin for a better

analysis. A lower turnover ratio means

that the company is not using its assets

optimally. Total asset turnover ratio is a

key driver of return on equity which is

quite constant.

There should be a steady stream of

sustainable dividends from a company,

the dividend payout ratio analysis is

important. A consistent trend in this ratio

is usually more important than a high or

low ratio. Bank has fallen a percentage

each year for the last five years might

indicate that the company can no longer

afford to pay such high dividends. This

could be an indication of poor operating

performance.

SUGGESTIONS & CONCLUSION

The bank has to take an appropriate measure to

keep current ration and Quick ratio on par with

the norms. The NPAs of the ICICI bank is more

than one per cent, hence should control NPAs

otherwise it affects the asset quality in long run.

Proper control over leverage should be taken in

order to magnify DP ratio. The spread of the

ICICI bank should control otherwise the income

of the bank is eaten away by the interest

expenses in the long-run. The Earning per share

is however long standing.

Table 1: Share capital of ICICI Bank as on 31st March, 2014

Details Amount (Rs. Crores)

Authorised Share capital 1275

Issued and paid up capital 1154.99


Source: Annual reports of the company

Table 2: Growth of ICICI Bank (Rs. Crores)

Years 2013-14 2012-13 2011-12 2010-11 2009-10

Total Assets 594,641.60 536,794.69 489,068.80 406,233.67 363,399.71

Equity Share Capital 1,155.04 1,153.64 1,152.77 1,151.82 1,114.89Reserves & surplus 72,051.71 65,547.84 59,250.09 53,938.83 50,503.48P/L Before Tax 13,968.17 11,396.69 8,803.43 6,760.71 5,345.32Tax 4,157.69 3,071.22 2,338.17 1,609.33 1,320.34P/L After Tax from Ordinary Activities

9,810.48 8,325.47 6,465.26 5,151.38 4,024.98

EPS 84.94 72.17 56.08 44.72 36.10Investments 177,021.82 171,393.60 159,560.04 134,685.96 120,892.80Net Worth 73206.75 66701.48 61402.86 559900.65 51628.37

Table 3: Various Ratios of ICICI Bank

Years 2013-14 2012-13 2011-12 2010-11 2009-10

Current Ratio 0.09 0.98 0.12 0.07 0.14Quick Ratio 11.31 10.53 9.37 15.86 14.70Total debt to owners fund(DER) 4.53 4.39 4.23 4.10 3.91EPS 84.95 72.22 56.09 44.73 36.10Dividend Payout Ratio 27.07 27.71 29.41 31.30 37.31Asset Turnover Ratio 0.08 0.08 0.08 0.07 0.10Total Assets Turnover Ratios 0.07 0.07 0.06 0.08 0.09

Table 4:

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar '14 Mar '13 Mar '12 Mar '11 Mar '10

Income

Interest Earned 44,178.15 40,075.60 33,542.65 25,974.05 25,706.93

Other Income 10,427.87 8,345.70 7,502.76 6,647.89 7,292.43

Total Income 54,606.02 48,421.30 41,045.41 32,621.94 32,999.36

Expenditure


Interest expended 27,702.59 26,209.18 22,808.50 16,957.15 17,592.57

Employee Cost 4,220.11 3,893.29 3,515.28 2,816.93 1,925.79

Selling and Admin Expenses 0 0 0 0 6,056.48

Depreciation 575.97 490.16 42.26 483.52 619.5

Miscellaneous Expenses 12,296.88 9,503.20 8,214.12 7,212.96 2,780.03

Preoperative Exp Capitalised 0 0 0 0 0

Operating Expenses 10,308.86 9,012.89 7,850.44 6,617.24 10,221.99

Provisions & Contingencies 6,784.10 4,873.76 3,921.22 3,896.17 1,159.81

Total Expenses 44,795.55 40,095.83 34,580.16 27,470.56 28,974.37

Net Profit for the Year 9,810.48 8,325.47 6,465.26 5,151.38 4,024.98

Extraordionary Items 0 0 0 0 -0.09

Profit brought forward 9,902.29 7,054.23 5,018.18 3,464.38 2,809.65

Total 19,712.77 15,379.70 11,483.44 8,615.76 6,834.54

Preference Dividend 0 0 0 0 0

Equity Dividend 2,656.28 2,307.23 1,902.04 1,612.58 1,337.86

Corporate Dividend Tax 231.25 292.16 220.35 202.28 164.04

Per share data (annualised)

Earning Per Share (Rs) 84.95 72.22 56.09 44.73 36.1

Equity Dividend (%) 230 200 165 140 120

Book Value (Rs) 633.92 578.65 524.01 478.31 463.01

Appropriations

Transfer to Statutory Reserves 3,506.65 2,878.03 2,306.49 1,782.45 1,867.22

Transfer to Other Reserves 0 0 0.33 0.26 1.04

Proposed Dividend/Transfer to Govt 2,887.53 2,599.39 2,122.39 1,814.86 1,501.90

Balance c/f to Balance Sheet 13,318.59 9,902.29 7,054.23 5,018.18 3,464.38

Total 19,712.77 15,379.71 11,483.44 8,615.75 6,834.54

Source : Dion Global Solutions Limited

Standalone Balance Sheet ------------------- in Rs. Cr. -------------------

Mar '14 Mar '13 Mar '12 Mar '11 Mar '10Capital and Liabilities:Total Share Capital 1,155.04 1,153.64 1,152.77 1,151.82 1,114.89Equity Share Capital 1,155.04 1,153.64 1,152.77 1,151.82 1,114.89

Share Application Money 6.57 4.48 2.39 0.29 0

Preference Share Capital 0 0 0 0 0Reserves 72,051.71 65,547.84 59,250.09 53,938.82 50,503.48Revaluation Reserves 0 0 0 0 0Net Worth 73,213.32 66,705.96 60,405.25 55,090.93 51,618.37


Deposits 3,31,913.66 2,92,613.63 2,55,499.96 2,25,602.11 2,02,016.60Borrowings 1,54,759.05 1,45,341.49 1,40,164.91 1,09,554.28 94,263.57Total Debt 4,86,672.71 4,37,955.12 3,95,664.87 3,35,156.39 2,96,280.17

Other Liabilities & Provisions 34,755.55 32,133.60 32,998.69 15,986.35 15,501.18

Total Liabilities 5,94,641.58 5,36,794.68 4,89,068.81 4,06,233.67 3,63,399.72Assets

Cash & Balances with RBI 21,821.83 19,052.73 20,461.29 20,906.97 27,514.29

Balance with Banks, Money at Call 19,707.77 22,364.79 15,768.02 13,183.11 11,359.40Advances 3,38,702.65 2,90,249.44 2,53,727.66 2,16,365.90 1,81,205.60Investments 1,77,021.82 1,71,393.60 1,59,560.04 1,34,685.96 1,20,892.80Gross Block 4,678.14 4,647.06 4,614.69 4,744.26 7,114.12

Accumulated Depreciation 0 0 0 0 3,901.43Net Block 4,678.14 4,647.06 4,614.69 4,744.26 3,212.69

Capital Work In Progress 0 0 0 0 0Other Assets 32,709.39 29,087.07 34,937.10 16,347.47 19,214.93Total Assets 5,94,641.60 5,36,794.69 4,89,068.80 4,06,233.67 3,63,399.71

Source : Dion Global Solutions Limited

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Documents

Icici Bank Comparison with other banks