FORM 6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For
the month of October, 2019
Commission File Number: 001-15002
ICICI
Bank Limited
(Translation of registrant’s name into English)
ICICI
Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)
Indicate
by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate
by check mark whether by furnishing the information
contained in this Form, the Registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934:
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g 3-2(b): Not Applicable
Table
of Contents
|
Item
|
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|
|
|
|
1.
|
Unaudited
Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2019
|
|
2.
|
Limited review reports
|
|
3.
|
Press Release dated October 26, 2019
|
Item 1
|
ICICI Bank Limited
|
|
CIN-L65190GJ1994PLC021012
|
|
Registered Office: ICICI Bank Tower, Near Chakli
Circle, Old Padra Road, Vadodara - 390 007.
|
|
Corporate Office: ICICI Bank Towers, Bandra-Kurla
Complex, Bandra (East), Mumbai - 400 051.
|
Phone: 022-26538900,
Fax: 022-26531230, Email: investor@icicibank.com
Website: www.icicibank.com
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STANDALONE FINANCIAL RESULTS
|
|
(₹
in crore)
|
|
Sr.
no.
|
Particulars
|
Three months ended
|
Six
months ended
|
Year
ended
|
September
30, 2019
(Q2-2020)
|
June
30, 2019
(Q1-2020)
|
September
30, 2018
(Q2-2019)
|
September
30, 2019
(H1-2020)
|
September
30, 2018
(H1-2019)
|
March
31, 2019
(FY2019)
|
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
1.
|
Interest
earned (a)+(b)+(c)+(d)
|
18,565.30
|
17,980.06
|
15,105.63
|
36,545.36
|
29,827.99
|
63,401.19
|
|
|
a)
|
Interest/discount
on advances/bills
|
14,304.00
|
13,616.42
|
11,511.75
|
27,920.42
|
22,493.55
|
47,942.62
|
|
|
b)
|
Income
on investments
|
3,725.89
|
3,645.44
|
3,086.25
|
7,371.33
|
6,222.07
|
12,796.88
|
|
|
c)
|
Interest
on balances with Reserve Bank of India and other inter-bank funds
|
136.22
|
147.48
|
147.47
|
283.70
|
374.02
|
736.09
|
|
|
d)
|
Others
|
399.19
|
570.72
|
360.16
|
969.91
|
738.35
|
1,925.60
|
|
2.
|
Other
income (refer note no. 4)
|
4,194.22
|
3,425.44
|
3,156.49
|
7,619.66
|
7,008.30
|
14,512.17
|
|
3.
|
TOTAL
INCOME (1)+(2)
|
22,759.52
|
21,405.50
|
18,262.12
|
44,165.02
|
36,836.29
|
77,913.36
|
|
4.
|
Interest
expended
|
10,507.87
|
10,242.63
|
8,688.05
|
20,750.50
|
17,308.51
|
36,386.40
|
|
5.
|
Operating
expenses (e)+(f)
|
5,377.55
|
4,874.41
|
4,324.36
|
10,251.96
|
8,469.69
|
18,089.06
|
|
|
e)
|
Employee
cost
|
2,141.32
|
1,953.30
|
1,661.37
|
4,094.62
|
3,175.25
|
6,808.24
|
|
|
f)
|
Other
operating expenses
|
3,236.23
|
2,921.11
|
2,662.99
|
6,157.34
|
5,294.44
|
11,280.82
|
|
6.
|
TOTAL
EXPENDITURE (4)+(5)
|
|
|
|
|
|
|
|
|
(excluding
provisions and contingencies)
|
15,885.42
|
15,117.04
|
13,012.41
|
31,002.46
|
25,778.20
|
54,475.46
|
|
7.
|
OPERATING
PROFIT (3)–(6)
|
6,874.10
|
6,288.46
|
5,249.71
|
13,162.56
|
11,058.09
|
23,437.90
|
|
|
(Profit
before provisions and contingencies)
|
|
8.
|
Provisions
(other than tax) and contingencies
|
2,506.87
|
3,495.73
|
3,994.29
|
6,002.60
|
9,965.58
|
19,661.14
|
|
9.
|
PROFIT/(LOSS)
FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8)
|
4,367.23
|
2,792.73
|
1,255.42
|
7,159.96
|
1,092.51
|
3,776.76
|
|
10.
|
Exceptional
items
|
..
|
..
|
..
|
..
|
..
|
..
|
|
11.
|
PROFIT/(LOSS)
FROM ORDINARY ACTIVITIES BEFORE TAX (9)–(10)
|
4,367.23
|
2,792.73
|
1,255.42
|
7,159.96
|
1,092.51
|
3,776.76
|
|
12.
|
Tax
expense (g)+(h)
|
3,712.27
|
884.70
|
346.54
|
4,596.97
|
303.18
|
413.46
|
|
|
g)
|
Current
period tax
|
691.60
|
735.07
|
324.03
|
1,426.67
|
282.39
|
3,360.60
|
|
|
h)
|
Deferred
tax adjustment (refer note no. 5)
|
3,020.67
|
149.63
|
22.51
|
3,170.30
|
20.79
|
(2,947.14)
|
|
13.
|
NET
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER TAX (11)–(12)
|
654.96
|
1,908.03
|
908.88
|
2,562.99
|
789.33
|
3,363.30
|
|
14.
|
Extraordinary
items (net of tax expense)
|
..
|
..
|
..
|
..
|
..
|
..
|
|
15.
|
NET
PROFIT/(LOSS) FOR THE PERIOD (13)–(14)
|
654.96
|
1,908.03
|
908.88
|
2,562.99
|
789.33
|
3,363.30
|
|
16.
|
Paid-up
equity share capital (face value ₹
2 each)
|
1,292.15
|
1,290.73
|
1,287.24
|
1,292.15
|
1,287.24
|
1,289.46
|
|
17.
|
Reserves
excluding revaluation reserves
|
106,269.32
|
106,059.73
|
101,079.76
|
106,269.32
|
101,079.76
|
104,029.40
|
|
18.
|
Analytical
ratios
|
|
|
|
|
|
|
|
|
i)
|
Percentage
of shares held by Government of India
|
0.30%
|
0.30%
|
0.20%
|
0.30%
|
0.20%
|
0.25%
|
|
|
ii)
|
Capital
adequacy ratio (Basel III)
|
16.14%
|
16.19%
|
17.84%
|
16.14%
|
17.84%
|
16.89%
|
|
|
iii)
|
Earnings
per share (EPS)
|
|
|
|
|
|
|
|
|
|
a)
|
Basic
EPS before and after extraordinary items, net of tax expense (not annualised) (in ₹)
|
1.01
|
2.96
|
1.41
|
3.97
|
1.23
|
5.23
|
|
|
|
b)
|
Diluted
EPS before and after extraordinary items, net of tax expense (not annualised) (in ₹)
|
1.00
|
2.91
|
1.40
|
3.91
|
1.22
|
5.17
|
|
19.
|
NPA
Ratio1
|
|
|
|
|
|
|
|
|
i)
|
Gross
non-performing customer assets (net of write-off)
|
45,638.79
|
45,763.08
|
54,488.96
|
45,638.79
|
54,488.96
|
46,291.63
|
|
|
ii)
|
Net
non-performing customer assets
|
10,916.40
|
11,856.54
|
22,085.68
|
10,916.40
|
22,085.68
|
13,577.43
|
|
|
iii)
|
%
of gross non-performing customer assets (net of write-off) to gross customer assets
|
6.37%
|
6.49%
|
8.54%
|
6.37%
|
8.54%
|
6.70%
|
|
|
iv)
|
%
of net non-performing customer assets to net customer assets
|
1.60%
|
1.77%
|
3.65%
|
1.60%
|
3.65%
|
2.06%
|
|
20.
|
Return
on assets (annualised)
|
0.27%
|
0.81%
|
0.43%
|
0.54%
|
0.19%
|
0.39%
|
|
1.
|
At September 30, 2019, the percentage of gross
non-performing advances (net of write-off) to gross advances was 6.90% (June 30, 2019: 7.21%, March 31, 2019: 7.38%, September
30, 2018: 9.30%) and net non-performing advances to net advances was 1.74% (June 30, 2019: 1.98%, March 31, 2019: 2.29%, September
30, 2018: 4.05%).
|
SUMMARISED
STANDALONE BALANCE SHEET
|
(₹
in crore)
|
|
Particulars
|
At
|
September
30, 2019
|
June
30, 2019
|
March
31, 2019
|
September
30, 2018
|
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
Capital
and Liabilities
|
|
|
|
|
|
Capital
|
1,292.15
|
1,290.73
|
1,289.46
|
1,287.24
|
|
Employees
stock options outstanding
|
4.06
|
4.51
|
4.68
|
5.49
|
|
Reserves
and surplus
|
109,313.83
|
109,104.24
|
107,073.91
|
104,080.31
|
|
Deposits
|
696,272.98
|
660,731.75
|
652,919.67
|
558,668.86
|
|
Borrowings
(includes preference shares and subordinated debt)
|
151,032.83
|
156,719.96
|
165,319.97
|
174,685.78
|
|
Other
liabilities and provisions
|
39,095.08
|
35,901.31
|
37,851.46
|
35,612.29
|
|
Total
Capital and Liabilities
|
997,010.93
|
963,752.50
|
964,459.15
|
874,339.97
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Cash
and balances with Reserve Bank of India
|
41,495.45
|
35,989.61
|
37,858.01
|
33,121.69
|
|
Balances
with banks and money at call and short notice
|
30,143.97
|
29,757.80
|
42,438.28
|
24,490.06
|
|
Investments
|
223,375.62
|
219,996.18
|
207,732.68
|
187,500.31
|
|
Advances
|
613,358.73
|
592,415.36
|
586,646.58
|
544,486.62
|
|
Fixed
assets
|
7,936.37
|
7,858.04
|
7,931.43
|
7,841.95
|
|
Other
assets
|
80,700.79
|
77,735.51
|
81,852.17
|
76,899.34
|
|
Total
Assets
|
997,010.93
|
963,752.50
|
964,459.15
|
874,339.97
|
|
STANDALONE
CASH FLOW STATEMENTS
|
|
(₹
in crore)
|
|
Particulars
|
|
Period
ended
|
September
30, 2019
(H1-2020)
|
March
31, 2019
(FY2019)
|
September
30, 2018
(H1-2019)
|
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
Cash
flow from/(used in) operating activities
|
|
|
|
|
|
Profit/(loss)
before taxes
|
|
7,159.96
|
3,776.76
|
1,092.51
|
|
|
|
|
|
|
|
Adjustments
for:
|
|
|
|
|
|
Depreciation
and amortisation
|
|
508.14
|
872.85
|
426.67
|
|
Net
(appreciation)/depreciation on investments
|
|
732.92
|
(22.82)
|
59.82
|
|
Provision
in respect of non-performing and other assets
|
|
4,989.88
|
16,811.20
|
8,866.11
|
|
General
provision for standard assets
|
|
208.94
|
255.37
|
162.73
|
|
Provision
for contingencies & others
|
|
576.71
|
2,238.35
|
423.89
|
|
|
|
|
|
|
|
Income
from subsidiaries, joint ventures and consolidated entities
|
|
(568.17)
|
(1,077.95)
|
(484.51)
|
|
(Profit)/loss
on sale of fixed assets
|
|
(0.55)
|
(0.19)
|
(2.14)
|
|
|
(i)
|
13,607.83
|
22,853.57
|
10,545.08
|
|
|
|
|
|
|
|
Adjustments
for:
|
|
|
|
|
|
(Increase)/decrease
in investments
|
|
3,967.19
|
19,591.71
|
28,427.72
|
|
(Increase)/decrease
in advances
|
|
(31,699.81)
|
(90,641.48)
|
(40,675.52)
|
|
Increase/(decrease)
in deposits
|
|
43,353.31
|
91,944.46
|
(2,306.35)
|
|
(Increase)/decrease
in other assets
|
|
(1,860.34)
|
(3,780.01)
|
(4,091.58)
|
|
Increase/(decrease)
in other liabilities and provisions
|
|
457.74
|
5,168.10
|
4,838.52
|
|
|
(ii)
|
14,218.09
|
22,282.78
|
(13,807.21)
|
|
|
|
|
|
|
|
Refund/(payment)
of direct taxes
|
(iii)
|
(1,482.23)
|
(6,717.57)
|
(1,375.96)
|
|
Net
cash flow from/(used in) operating activities (i)+(ii)+(iii)
|
(A)
|
26,343.69
|
38,418.78
|
(4,638.09)
|
|
Cash
flow from/(used in) investing activities
|
|
|
|
|
|
Redemption/sale
from/(investments in) subsidiaries and/or joint ventures (including application money)
|
|
|
1,138.30
|
1,138.21
|
|
Income
from subsidiaries, joint ventures and consolidated entities
|
|
568.17
|
1,077.95
|
484.51
|
|
Purchase
of fixed assets
|
|
(565.79)
|
(830.92)
|
(380.97)
|
|
Proceeds
from sale of fixed assets
|
|
8.86
|
38.03
|
25.30
|
|
(Purchase)/sale
of held-to-maturity securities
|
|
(20,343.05)
|
(25,298.67)
|
(14,007.82)
|
|
Net
cash flow from/(used in) investing activities
|
(B)
|
(20,331.81)
|
(23,875.31)
|
(12,740.77)
|
|
Cash
flow from/(used in) financing activities
|
|
|
|
|
|
Proceeds
from issue of share capital (including ESOPs)
|
|
269.84
|
348.63
|
137.99
|
|
Proceeds
from long-term borrowings
|
|
14,059.54
|
14,436.39
|
11,541.38
|
|
Repayment
of long-term borrowings
|
|
(19,181.63)
|
(20,201.29)
|
(9,649.30)
|
|
Net
proceeds/(repayment) of short-term borrowings
|
|
(9,225.67)
|
(11,869.69)
|
(10,112.50)
|
|
Dividend
and dividend tax paid
|
|
(645.31)
|
(965.13)
|
(965.13)
|
|
Net
cash flow from/(used in) financing activities
|
(C)
|
(14,723.23)
|
(18,251.09)
|
(9,047.56)
|
|
Effect
of exchange fluctuation on translation reserve
|
(D)
|
54.48
|
(165.48)
|
(131.22)
|
|
|
|
|
|
|
Net
increase/(decrease) in cash and cash equivalents
(A) + (B) + (C) + (D)
|
|
(8,656.87)
|
(3,873.10)
|
(26,557.64)
|
|
|
|
|
|
|
|
Cash
and cash equivalents at beginning of the period/year
|
|
80,296.29
|
84,169.39
|
84,169.39
|
|
Cash
and cash equivalents at end of the period/year
|
|
71,639.42
|
80,296.29
|
57,611.75
|
|
1.
|
Cash
and cash equivalents include cash in hand, balances with RBI, balances with other banks and money at call and short notice.
|
|
CONSOLIDATED
FINANCIAL RESULTS
|
|
|
|
(₹
in crore)
|
|
Sr.
no.
|
Particulars
|
Three
months ended
|
Six
months ended
|
Year
ended
|
September
30, 2019
(Q2-2020)
|
June
30, 2019
(Q1-2020)
|
September
30, 2018
(Q2-2019)
|
September
30, 2019
(H1-2020)
|
September
30, 2018
(H1-2019)
|
March
31, 2019
(FY2019)
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
1.
|
Interest
earned (a)+(b)+(c)+(d)
|
21,106.28
|
20,365.87
|
17,224.20
|
41,472.15
|
33,962.37
|
71,981.65
|
|
|
a)
|
Interest/discount
on advances/bills
|
15,136.52
|
14,431.69
|
12,217.35
|
29,568.21
|
23,854.35
|
50,884.83
|
|
|
b)
|
Income
on investments
|
5,364.14
|
5,126.04
|
4,430.92
|
10,490.18
|
8,870.57
|
18,102.29
|
|
|
c)
|
Interest
on balances with Reserve Bank of India and other inter-bank funds
|
188.25
|
208.17
|
196.89
|
396.42
|
465.12
|
927.10
|
|
|
d)
|
Others
|
417.37
|
599.97
|
379.04
|
1,017.34
|
772.33
|
2,067.43
|
|
2.
|
Other
income
|
16,318.50
|
13,503.02
|
14,690.62
|
29,821.52
|
27,126.57
|
59,324.85
|
|
3.
|
TOTAL
INCOME (1)+(2)
|
37,424.78
|
33,868.89
|
31,914.82
|
71,293.67
|
61,088.94
|
131,306.50
|
|
4.
|
Interest
expended
|
11,334.69
|
11,008.62
|
9,396.90
|
22,343.31
|
18,678.99
|
39,177.54
|
|
5.
|
Operating
expenses (e)+(f)
|
17,726.78
|
15,093.30
|
16,053.87
|
32,820.08
|
29,219.90
|
64,258.88
|
|
|
e)
|
Employee
cost
|
2,872.68
|
2,668.30
|
2,351.36
|
5,540.98
|
4,494.35
|
9,425.26
|
|
|
f)
|
Other
operating expenses
|
14,854.10
|
12,425.00
|
13,702.51
|
27,279.10
|
24,725.55
|
54,833.62
|
|
6.
|
TOTAL
EXPENDITURE (4)+(5)
|
29,061.47
|
26,101.92
|
25,450.77
|
55,163.39
|
47,898.89
|
103,436.42
|
|
|
(excluding
provisions and contingencies)
|
|
7.
|
OPERATING
PROFIT (3)–(6)
|
8,363.31
|
7,766.97
|
6,464.05
|
16,130.28
|
13,190.05
|
27,870.08
|
|
|
(Profit
before provisions and contingencies)
|
|
8.
|
Provisions
(other than tax) and contingencies
|
2,725.80
|
3,558.62
|
4,185.11
|
6,284.42
|
10,341.88
|
20,461.82
|
|
9.
|
PROFIT/(LOSS)
FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8)
|
5,637.51
|
4,208.35
|
2,278.94
|
9,845.86
|
2,848.17
|
7,408.26
|
|
10.
|
Exceptional
items
|
..
|
..
|
..
|
..
|
..
|
..
|
|
11.
|
PROFIT/(LOSS)
FROM ORDINARY ACTIVITIES BEFORE TAX (9)–(10)
|
5,637.51
|
4,208.35
|
2,278.94
|
9,845.86
|
2,848.17
|
7,408.26
|
|
12.
|
Tax
expense (g)+(h)
|
4,052.99
|
1,294.90
|
678.80
|
5,347.89
|
921.97
|
1,719.10
|
|
|
g)
|
Current
period tax
|
971.65
|
1,275.46
|
702.62
|
2,247.11
|
976.94
|
4,808.28
|
|
|
h)
|
Deferred
tax adjustment (refer note no. 5)
|
3,081.34
|
19.44
|
(23.82)
|
3,100.78
|
(54.97)
|
(3,089.18)
|
|
13.
|
Less:
Share of profit/(loss) of minority shareholders
|
453.32
|
399.76
|
395.52
|
853.08
|
716.65
|
1,434.92
|
|
14.
|
NET
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER TAX (11)–(12)–(13)
|
1,131.20
|
2,513.69
|
1,204.62
|
3,644.89
|
1,209.55
|
4,254.24
|
|
15.
|
Extraordinary
items (net of tax expense)
|
..
|
..
|
..
|
..
|
..
|
..
|
|
16.
|
NET
PROFIT/(LOSS) FOR THE PERIOD (14)-(15)
|
1,131.20
|
2,513.69
|
1,204.62
|
3,644.89
|
1,209.55
|
4,254.24
|
|
17.
|
Paid-up
equity share capital (face value ` 2/- each)
|
1,292.15
|
1,290.73
|
1,287.24
|
1,292.15
|
1,287.24
|
1,289.46
|
|
18.
|
Reserves
excluding revaluation reserves
|
112,910.38
|
112,386.99
|
106,661.34
|
112,910.38
|
106,661.34
|
109,889.27
|
|
19.
|
Analytical
ratios
|
|
|
|
|
|
|
|
|
Basic
EPS before and after extraordinary items, net of tax expense (not annualised) (in `)
|
1.75
|
3.90
|
1.87
|
5.65
|
1.88
|
6.61
|
|
|
Diluted
EPS before and after extraordinary items, net of tax expense (not annualised) (in `)
|
1.72
|
3.83
|
1.85
|
5.55
|
1.86
|
6.53
|
|
SUMMARISED
CONSOLIDATED BALANCE SHEET
|
|
|
|
(₹
in crore)
|
|
Particulars
|
At
|
September
30, 2019
|
June
30, 2019
|
March
31, 2019
|
September
30, 2018
|
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
Capital
and Liabilities
|
|
|
|
|
|
Capital
|
1,292.15
|
1,290.73
|
1,289.46
|
1,287.24
|
|
Employees
stock options outstanding
|
4.06
|
4.51
|
4.68
|
5.49
|
|
Reserves
and surplus
|
115,980.38
|
115,456.99
|
112,959.27
|
109,686.34
|
|
Minority
interest
|
6,848.42
|
6,742.65
|
6,580.53
|
6,262.67
|
|
Deposits
|
725,582.67
|
691,033.51
|
681,316.94
|
589,496.56
|
|
Borrowings
(includes preference shares and subordinated debt)
|
204,541.59
|
208,214.83
|
210,324.12
|
223,211.98
|
|
Liabilities
on policies in force
|
157,817.04
|
155,744.66
|
152,378.75
|
138,607.60
|
|
Other
liabilities and provisions
|
76,123.41
|
71,983.71
|
73,940.14
|
68,384.40
|
|
Total
Capital and Liabilities
|
1,288,189.72
|
1,250,471.59
|
1,238,793.89
|
1,136,942.28
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Cash
and balances with Reserve Bank of India
|
41,595.13
|
36,061.78
|
38,066.28
|
33,204.25
|
|
Balances
with banks and money at call and short notice
|
38,307.25
|
37,092.04
|
49,324.62
|
32,699.77
|
|
Investments
|
428,113.53
|
423,388.95
|
398,200.75
|
365,817.39
|
|
Advances
|
675,452.42
|
652,917.17
|
646,961.68
|
604,676.92
|
|
Fixed
assets
|
9,708.09
|
9,635.18
|
9,660.42
|
9,479.38
|
|
Other
assets
|
95,013.30
|
91,376.47
|
96,580.14
|
91,064.57
|
|
Total
Assets
|
1,288,189.72
|
1,250,471.59
|
1,238,793.89
|
1,136,942.28
|
|
CONSOLIDATED
CASH FLOW STATEMENTS
|
|
|
|
(₹
in crore)
|
|
Particulars
|
|
Period
ended
|
September
30, 2019
(H1-2020)
|
March
31, 2019
(FY2019)
|
September
30, 2018
(H1-2019)
|
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
Cash
flow from/(used in) operating activities
|
|
|
|
|
|
Profit/(loss)
before taxes
|
|
8,992.74
|
5,973.34
|
2,131.52
|
|
|
|
|
|
|
|
Adjustments
for:
|
|
|
|
|
|
Depreciation
and amortisation
|
|
606.54
|
1,045.37
|
506.63
|
|
Net
(appreciation)/depreciation on investments
|
|
789.43
|
5.79
|
180.82
|
|
Provision
in respect of non-performing and other assets
|
|
5,013.26
|
17,611.40
|
9,162.05
|
|
General
provision for standard assets
|
|
224.17
|
241.44
|
142.78
|
|
Provision
for contingencies & others
|
|
595.91
|
2,249.86
|
516.47
|
|
(Profit)/loss
on sale of fixed assets
|
|
(0.46)
|
2.20
|
(2.60)
|
|
Employees
stock options grants
|
|
2.95
|
7.92
|
2.29
|
|
|
(i)
|
16,224.54
|
27,137.32
|
12,639.96
|
|
|
|
|
|
|
|
Adjustments
for:
|
|
|
|
|
|
(Increase)/decrease
in investments
|
|
(12,420.72)
|
3,346.37
|
18,229.53
|
|
(Increase)/decrease
in advances
|
|
(33,501.79)
|
(97,297.84)
|
(46,698.82)
|
|
Increase/(decrease)
in deposits
|
|
44,265.73
|
95,520.82
|
3,700.45
|
|
(Increase)/decrease
in other assets
|
|
(1,422.44)
|
(3,169.14)
|
(3,137.55)
|
|
Increase/(decrease)
in other liabilities and provisions
|
|
10,543.84
|
31,489.77
|
17,295.60
|
|
|
(ii)
|
7,464.62
|
29,889.98
|
(10,610.79)
|
|
|
|
|
|
|
|
Refund/(payment)
of direct taxes
|
(iii)
|
(2,245.06)
|
(8,356.25)
|
(2,105.44)
|
|
Net
cash flow from/(used in) operating activities (i)+(ii)+(iii)
|
(A)
|
21,444.10
|
48,671.05
|
(76.27)
|
|
Cash
flow from/(used in) investing activities
|
|
|
|
|
|
Purchase
of fixed assets
|
|
(723.60)
|
(1,148.15)
|
(525.52)
|
|
Proceeds
from sale of fixed assets
|
|
15.06
|
46.88
|
35.69
|
|
(Purchase)/sale
of held to maturity securities
|
|
(21,968.79)
|
(29,045.94)
|
(15,305.56)
|
|
Net
cash flow from/(used in) investing activities
|
(B)
|
(22,677.33)
|
(30,147.21)
|
(15,795.39)
|
|
Cash
flow from/(used in) financing activities
|
|
|
|
|
|
Proceeds
from issue of share capital (including ESOPs)
|
|
269.84
|
348.63
|
137.99
|
|
Proceeds
from long-term borrowings
|
|
21,410.63
|
26,238.83
|
16,964.14
|
|
Repayment
of long-term borrowings
|
|
(29,937.04)
|
(30,416.27)
|
(14,217.57)
|
|
Net
proceeds/(repayment) of short-term borrowings
|
|
2,682.15
|
(14,999.79)
|
(8,986.18)
|
|
Dividend
and dividend tax paid
|
|
(767.74)
|
(1,168.83)
|
(1,087.93)
|
|
Net
cash flow from/(used in) financing activities
|
(C)
|
(6,342.16)
|
(19,997.43)
|
(7,189.55)
|
|
Effect
of exchange fluctuation on translation reserve
|
(D)
|
86.87
|
(134.64)
|
(33.90)
|
|
|
|
|
|
|
Net
increase/(decrease) in cash and cash equivalents
(A) + (B) + (C) + (D)
|
|
(7,488.52)
|
(1,608.23)
|
(23,095.11)
|
|
|
|
|
|
|
|
Cash
and cash equivalents at beginning of the period/year
|
|
87,390.90
|
88,999.13
|
88,999.13
|
|
Cash
and cash equivalents at end of the period/year
|
|
79,902.38
|
87,390.90
|
65,904.02
|
|
1.
|
Cash
and cash equivalents include cash in hand, balances with RBI, balances with other banks and money at call and short notice.
|
|
CONSOLIDATED
SEGMENTAL RESULTS
|
|
|
|
(₹
in crore)
|
|
Sr.
no.
|
Particulars
|
Three
months ended
|
Six
months ended
|
Year
ended
|
September
30, 2019
(Q2-2020)
|
June
30, 2019
(Q1-2020)
|
September
30, 2018
(Q2-2019)
|
September
30, 2019
(H1-2020)
|
September
30, 2018
(H1-2019)
|
March
31, 2019
(FY2019)
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
(Audited)
|
|
1.
|
Segment
Revenue
|
|
|
|
|
|
|
|
a
|
Retail
Banking
|
18,261.59
|
16,697.00
|
14,439.21
|
34,958.59
|
28,152.38
|
59,172.33
|
|
b
|
Wholesale
Banking
|
9,827.22
|
9,750.75
|
8,017.58
|
19,577.97
|
15,958.21
|
34,168.50
|
|
c
|
Treasury
|
15,517.15
|
14,784.36
|
12,702.95
|
30,301.51
|
25,852.33
|
54,102.18
|
|
d
|
Other
Banking
|
1,019.03
|
1,160.60
|
809.52
|
2,179.63
|
1,558.31
|
3,742.51
|
|
e
|
Life
Insurance
|
9,941.71
|
7,696.67
|
9,280.27
|
17,638.38
|
16,182.38
|
36,698.77
|
|
f
|
General
Insurance
|
3,067.43
|
3,049.91
|
2,924.40
|
6,117.34
|
5,536.94
|
11,152.68
|
|
g
|
Others
|
1,770.66
|
1,613.94
|
1,482.77
|
3,384.60
|
2,880.26
|
6,099.57
|
|
|
Total
segment revenue
|
59,404.79
|
54,753.23
|
49,656.70
|
114,158.02
|
96,120.81
|
205,136.54
|
|
|
Less:
Inter segment revenue
|
21,980.01
|
20,884.34
|
17,741.88
|
42,864.35
|
35,031.87
|
73,830.04
|
|
|
Income
from operations
|
37,424.78
|
33,868.89
|
31,914.82
|
71,293.67
|
61,088.94
|
131,306.50
|
|
2.
|
Segmental
Results (i.e. Profit before tax)
|
|
|
|
|
|
|
|
a
|
Retail
Banking
|
2,568.93
|
1,967.66
|
2,120.47
|
4,536.59
|
4,166.84
|
8,223.12
|
|
b
|
Wholesale
Banking
|
513.86
|
(505.55)
|
(1,685.03)
|
8.31
|
(5,360.57)
|
(10,242.34)
|
|
c
|
Treasury
|
1,111.90
|
1,153.50
|
983.52
|
2,265.40
|
2,313.97
|
5,340.10
|
|
d
|
Other
Banking
|
348.59
|
430.42
|
22.86
|
779.01
|
188.48
|
591.63
|
|
e
|
Life
Insurance
|
306.34
|
286.91
|
302.68
|
593.25
|
586.67
|
1,162.40
|
|
f
|
General
Insurance
|
461.06
|
475.27
|
449.03
|
936.33
|
892.25
|
1,598.42
|
|
g
|
Others
|
657.60
|
598.57
|
464.11
|
1,256.17
|
758.53
|
2,014.27
|
|
|
Total
segment results
|
5,968.28
|
4,406.78
|
2,657.64
|
10,375.06
|
3,546.17
|
8,687.60
|
|
|
Less:
Inter segment adjustment
|
330.77
|
198.43
|
378.70
|
529.20
|
698.00
|
1,279.34
|
|
|
Unallocated
expenses
|
..
|
..
|
..
|
..
|
..
|
..
|
|
|
Profit
before tax
|
5,637.51
|
4,208.35
|
2,278.94
|
9,845.86
|
2,848.17
|
7,408.26
|
|
3.
|
Segment
assets
|
|
|
|
|
|
|
|
a
|
Retail
Banking
|
330,218.45
|
316,614.21
|
274,629.71
|
330,218.45
|
274,629.71
|
307,155.83
|
|
b
|
Wholesale
Banking
|
291,424.14
|
280,662.41
|
279,605.28
|
291,424.14
|
279,605.28
|
288,495.45
|
|
c
|
Treasury
|
341,571.54
|
329,152.98
|
292,632.68
|
341,571.54
|
292,632.68
|
333,104.97
|
|
d
|
Other
Banking
|
79,073.85
|
79,947.81
|
77,732.27
|
79,073.85
|
77,732.27
|
76,525.15
|
|
e
|
Life
Insurance
|
167,756.97
|
165,360.93
|
148,213.83
|
167,756.97
|
148,213.83
|
162,699.92
|
|
f
|
General
Insurance
|
34,886.08
|
34,436.39
|
30,594.96
|
34,886.08
|
30,594.96
|
32,950.45
|
|
g
|
Others
|
38,880.83
|
37,516.66
|
31,404.68
|
38,880.83
|
31,404.68
|
31,490.95
|
|
h
|
Unallocated
|
18,022.01
|
19,857.74
|
15,665.61
|
18,022.01
|
15,665.61
|
21,124.56
|
|
|
Total
|
1,301,833.87
|
1,263,549.13
|
1,150,479.02
|
1,301,833.87
|
1,150,479.02
|
1,253,547.28
|
|
|
Less:
Inter segment adjustment
|
13,644.15
|
13,077.54
|
13,536.74
|
13,644.15
|
13,536.74
|
14,753.39
|
|
|
Total
segment assets
|
1,288,189.72
|
1,250,471.59
|
1,136,942.28
|
1,288,189.72
|
1,136,942.28
|
1,238,793.89
|
|
4.
|
Segment
liabilities
|
|
|
|
|
|
|
|
a
|
Retail
Banking
|
523,595.45
|
493,081.58
|
440,803.87
|
523,595.45
|
440,803.87
|
488,976.00
|
|
b
|
Wholesale
Banking
|
198,247.93
|
193,015.89
|
140,666.06
|
198,247.93
|
140,666.06
|
187,478.42
|
|
c
|
Treasury
|
173,257.09
|
174,345.07
|
201,306.65
|
173,257.09
|
201,306.65
|
189,732.88
|
|
d
|
Other
Banking
|
65,367.14
|
66,555.97
|
62,622.12
|
65,367.14
|
62,622.12
|
62,755.05
|
|
e
|
Life
Insurance
|
160,602.20
|
158,167.48
|
141,554.13
|
160,602.20
|
141,554.13
|
155,884.72
|
|
f
|
General
Insurance
|
29,512.46
|
29,098.49
|
25,546.32
|
29,512.46
|
25,546.32
|
27,742.96
|
|
g
|
Others
|
33,975.01
|
32,532.42
|
27,000.80
|
33,975.01
|
27,000.80
|
26,723.84
|
|
h
|
Unallocated
|
..
|
..
|
..
|
..
|
..
|
..
|
|
|
Total
|
1,184,557.28
|
1,146,796.90
|
1,039,499.95
|
1,184,557.28
|
1,039,499.95
|
1,139,293.87
|
|
|
Less:
Inter segment adjustment
|
13,644.15
|
13,077.54
|
13,536.74
|
13,644.15
|
13,536.74
|
14,753.39
|
|
|
Total
segment liabilities
|
1,170,913.13
|
1,133,719.36
|
1,025,963.21
|
1,170,913.13
|
1,025,963.21
|
1,124,540.48
|
|
5.
|
Capital
employed (i.e. Segment assets – Segment liabilities)
|
|
|
|
|
|
|
|
a
|
Retail
Banking
|
(193,377.00)
|
(176,467.37)
|
(166,174.16)
|
(193,377.00)
|
(166,174.16)
|
(181,820.17)
|
|
b
|
Wholesale
Banking
|
93,176.21
|
87,646.52
|
138,939.22
|
93,176.21
|
138,939.22
|
101,017.03
|
|
c
|
Treasury
|
168,314.45
|
154,807.91
|
91,326.03
|
168,314.45
|
91,326.03
|
143,372.09
|
|
d
|
Other
Banking
|
13,706.71
|
13,391.84
|
15,110.15
|
13,706.71
|
15,110.15
|
13,770.10
|
|
e
|
Life
Insurance
|
7,154.77
|
7,193.45
|
6,659.70
|
7,154.77
|
6,659.70
|
6,815.20
|
|
f
|
General
Insurance
|
5,373.62
|
5,337.90
|
5,048.64
|
5,373.62
|
5,048.64
|
5,207.49
|
|
g
|
Others
|
4,905.82
|
4,984.24
|
4,403.88
|
4,905.82
|
4,403.88
|
4,767.11
|
|
h
|
Unallocated
|
18,022.01
|
19,857.74
|
15,665.61
|
18,022.01
|
15,665.61
|
21,124.56
|
|
|
Total
capital employed
|
117,276.59
|
116,752.23
|
110,979.07
|
117,276.59
|
110,979.07
|
114,253.41
|
|
Notes on segmental results:
|
|
1.
|
The disclosure
on segmental reporting has been prepared in accordance with Reserve Bank of India (RBI) 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 and Securities and Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016 dated July
5, 2016 on Revised Formats for Financial Results and Implementation of Ind-AS by Listed Entities.
|
|
2.
|
'Retail Banking'
includes exposures which satisfy the four criteria of orientation, product, granularity and 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'. This segment also includes income from credit cards, debit cards, third party
product distribution and the associated costs.
|
|
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 and ICICI Strategic Investments Fund.
|
|
5.
|
'Other Banking' includes
leasing operations and other items not attributable to any particular business segment of the Bank. Further, it includes the
Bank’s banking subsidiaries i.e. ICICI Bank UK PLC and ICICI Bank Canada.
|
|
6.
|
'Life Insurance'
represents ICICI Prudential Life Insurance Company Limited.
|
|
7.
|
'General Insurance'
represents ICICI Lombard General Insurance Company Limited.
|
|
8.
|
'Others' comprises
the consolidated entities of the Bank, not covered in any of the segments above.
|
|
Notes:
|
|
|
|
|
|
|
|
1.
|
The above financial results have been approved
by the Board of Directors at its meeting held on October 26, 2019. The statutory auditors have conducted limited review and
issued an unmodified report on the standalone and consolidated financial statements for Q2-2020 and H1-2020.
|
|
2.
|
The financial statements have been prepared in
accordance with Accounting Standard (AS) 25 on 'Interim Financial Reporting' as prescribed under Companies Act 2013.
|
|
3.
|
In accordance with RBI guidelines on 'Basel III
Capital Regulations', read together with the RBI circular dated July 1, 2015, the consolidated Pillar 3 disclosure (unaudited)
at September 30, 2019, including leverage ratio and liquidity coverage ratio, is available at https://www.icicibank.com/regulatory-disclosure.page.
|
|
4.
|
The Bank did not divest any stake in its subsidiaries
during H1-2020. During H1-2019 and FY2019, the Bank sold equity shares representing 2.00% shareholding in ICICI Prudential
Life Insurance Company Limited through an offer for sale on stock exchanges. The sale resulted in net gain of ₹ 1,109.59
crore in standalone financial results and ₹ 1,005.93 crore in consolidated financial results for H1-2019 and FY2019.
|
|
5.
|
The Bank and certain group companies have decided
to exercise the option of lower tax rate available under Section 115BAA of the Income Tax Act, 1961, as introduced by Taxation
Laws (Amendment) Ordinance, 2019, with effect from FY2020. Accordingly, the Bank and certain group companies have recognised
the provision for income tax for Q2-2020 and H1-2020 and re-measured the accumulated deferred tax asset at March 31, 2019
based on the rate prescribed under Section 115BAA. The resultant impact has been taken through the profit and loss account.
The re-measurement of accumulated deferred tax asset has resulted in a one-time additional charge of ₹ 2,919.75 crore
in standalone financial results and ₹ 2,970.08 crore (net of minority interest) in consolidated financial results in
Q2-2020 and H1-2020.
|
|
6.
|
During Q2-2020, the Bank has allotted 7,078,660
equity shares of ` 2 each pursuant
to exercise of employee stock options.
|
|
7.
|
Previous period/year figures have been re-grouped/re-classified
where necessary to conform to current period classification.
|
|
8.
|
The above standalone and consolidated financial
results have been reviewed/audited by the statutory auditors, Walker Chandiok & Co LLP, Chartered Accountants.
|
|
9.
|
₹ 1 crore = ₹ 10.0 million.
|
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For and on behalf of the Board
of Directors
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Sd/-
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|
|
Vishakha Mulye
|
|
Mumbai
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|
Executive Director
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October 26, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
DIN-00203578
|
Item 2
Walker Chandiok
& Co LLP
|
|
Walker Chandiok & Co. LLP
16th Floor, Tower II
Indiabulls Finance Centre,
SB Marg, Elphinstone (W)
Mumbai - 400013
India
T +91 22 66262600
F +91 22 66262601
|
Independent
Auditor’s Review Report on Standalone Unaudited Quarterly and Year to Date Financial Results of ICICI Bank Limited pursuant
to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
To the Board of Directors of ICICI
Bank Limited
|
|
1.
|
We have reviewed the accompanying statement of standalone unaudited financial results (‘the
Statement’) of ICICI Bank Limited (‘the Bank’) for the quarter ended 30 September 2019 and the year to date results
for the period 01 April 2019 to 30 September 2019, being submitted by the Bank pursuant to the requirements of Regulation 33 of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued
by the SEBI from time to time, except for the disclosures relating to Pillar 3 disclosure as at 30 September 2019, including leverage
ratio and liquidity coverage ratio under Basel III Capital Regulations, as have been disclosed on the Bank's website and in respect
of which a link has been provided in the Statement, and have not been reviewed by us.
|
|
|
2.
|
The Statement, which is the responsibility of the Bank’s management and has been approved
by the Bank’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down
in Accounting Standard 25, Interim Financial Reporting (‘AS 25’), prescribed under Section 133 of the Companies Act,
2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), the relevant provisions of the Banking Regulation
Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (‘the RBI’) from time to time
(‘the RBI guidelines’), SEBI Circular CIR/CFD/FAC/62/2016 dated 5 July 2016 (hereinafter referred to as ‘the
SEBI Circular’), and other accounting principles generally accepted in India. Our responsibility is to express a conclusion
on the Statement based on our review.
|
|
|
3.
|
We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute
of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially
less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Companies
Act, 2013, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that
might be identified in an audit. Accordingly, we do not express an audit opinion.
|
Walker Chandiok
& Co LLP
ICICI Bank Limited
Independent
Auditor’s Review Report on Standalone Unaudited Quarterly and Year to Date Financial Results of ICICI Bank Limited pursuant
to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
|
|
4.
|
Based on our review conducted as above, and the consideration of the review reports of the branch
auditor, referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement,
prepared in accordance with the recognition and measurement principles laid down in AS 25, prescribed under Section 133 of the
Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), the RBI guidelines, the SEBI Circular,
and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance
with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended),
including the manner in which it is to be disclosed, or that it contains any material misstatement, or that it has not been prepared
in accordance with the relevant prudential norms issued by the RBI in respect of income recognition, asset classification, provisioning
and other related matters, except for the disclosures relating to Pillar 3 disclosure as at 30 September 2019, including leverage
ratio and liquidity coverage ratio under Basel III Capital Regulations, as have been disclosed on the Bank's website and in respect
of which a link has been provided in the Statement and have not been reviewed by us.
|
|
|
5.
|
We did not review the interim financial information of one branch of the Bank located in Dubai,
included in the Statement, whose financial information reflects total assets of ₹ 40,916.34 crores as at 30 September 2019
and total revenues of ₹ 348.98 crores and ₹ 777.12 crores for the quarter and half-year ended 30 September 2019, respectively
and cash outflow of ₹ 4,757.27 crores for the half-year ended 30 September 2019, as considered in the Statement. The aforementioned
financial information have been reviewed by the branch auditor, whose review reports have been furnished to us by the management,
and our conclusion, in so far as it relates to the amounts and disclosures included in respect of such branch, is based solely
on the reports of such branch auditor. Our conclusion is not modified in respect of this matter.
|
For Walker Chandiok &
Co LLP
Chartered Accountants
Firm Registration No: 001076N/N500013
Sd/-
Sudhir N. Pillai
Partner
Membership No. 105782
UDIN: 19105782AAAAGF3257
Place: Mumbai
Date: 26 October 2019
Walker Chandiok
& Co LLP
|
|
Walker Chandiok & Co. LLP
16th Floor, Tower II
Indiabulls Finance Centre,
SB Marg, Elphinstone (W)
Mumbai - 400013
India
T +91 22 66262600
F +91 22 66262601
|
Independent Auditor’s Review Report
on Consolidated Unaudited Quarterly Financial Results of ICICI Bank Limited pursuant to the Regulation of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)
To the Board of Directors of ICICI
Bank Limited
|
|
1.
|
We have reviewed the accompanying statement of consolidated unaudited financial results (‘the
Statement’) of ICICI Bank Limited (‘the Holding Company’ or ‘the Bank’) and its subsidiaries (the
Holding Company and its subsidiaries together referred to as ‘the Group’), and its associates (refer Annexure 1 for
the list of subsidiaries and associates included in the Statement) for the quarter ended 30 September 2019 and the consolidated
year to date results for the period 01 April 2019 to 30 September 2019, being submitted by the Holding Company pursuant to the
requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including
relevant circulars issued by the SEBI from time to time, except for the disclosures relating to consolidated Pillar 3 disclosures
as at 30 September 2019, including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations, as have been
disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by
us.
|
|
|
2.
|
This Statement, which is the responsibility of the Holding Company’s management and has been
approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles
laid down in Accounting Standard 25, Interim Financial Reporting (‘AS 25’), prescribed under Section 133 of the Companies
Act 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), the relevant provisions of the Banking Regulation
Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (‘the RBI’) from time to time
(‘the RBI guidelines’), SEBI Circulars CIR/CFD/FAC/62/2016 dated 5 July 2016 (hereinafter referred to as ‘the
SEBI Circular’), and other accounting principles generally accepted in India. Our responsibility is to express a conclusion
on the Statement based on our review.
|
|
|
3.
|
We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute
of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially
less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Companies
Act, 2013, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that
might be identified in an audit. Accordingly, we do not express an audit opinion.
|
Walker Chandiok
& Co LLP
ICICI Bank Limited
Independent Auditor’s Review Report
on Consolidated Unaudited Quarterly Financial Results of ICICI Bank Limited pursuant to the Regulation of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)
We also performed procedures
in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.
|
|
4.
|
Based on our review conducted and procedures performed as stated in paragraph 3 above and upon
consideration of the review reports of the branch auditor and other auditors, nothing has come to our attention that causes us
to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in AS
25, prescribed under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended),
the RBI guidelines, the SEBI Circular and other accounting principles generally accepted in India, has not disclosed the information
required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement,
except for the disclosures relating to consolidated Pillar 3 disclosure as at 30 September 2019, including leverage ratio and liquidity
coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link
has been provided in the Statement and have not been reviewed by us.
|
|
|
5.
|
We did not review the interim financial information of one branch of the Bank located in Dubai,
included in the Statement, whose financial information reflects total assets of ₹ 40,916.34 crores as at 30 September 2019
and total revenues of ₹ 348.98 crores and ₹ 777.12 crores for the quarter and half-year ended 30 September 2019, respectively
and cash outflow of ₹ 4,757.27 crores for the half-year ended 30 September 2019, as considered in the Statement. The aforementioned
financial information have been reviewed by the branch auditor, whose review reports have been furnished to us by the management,
and our conclusion, in so far as it relates to the amounts and disclosures included in respect of such branch, is based solely
on the reports of such branch auditor. Our conclusion is not modified in respect of this matter.
|
|
|
6.
|
We did not review the interim financial statements / information of twelve subsidiaries, whose
financial statements / information reflect total assets of ₹ 136,771.82 crores as at 30 September 2019, total revenues of
₹ 5,426.28 crores and ₹ 10,658.14 crores and total net profit after tax of ₹ 992.19 crores and ₹ 1,828.75
crores, for the quarter and half-year ended 30 September 2019, respectively, and net cash outflows of ₹ 283.95 crores for
the half-year ended 30 September 2019 as considered in the Statement. These interim financial statements / information have been
reviewed / audited by other auditors whose review / audit reports have been furnished to us by the management, and our conclusion
in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review
/ audit reports of such other auditors, and the procedures performed by us as stated in paragraph 3 above.
|
Further, of these subsidiaries,
three subsidiaries are located outside India whose interim financial statements / information have been prepared in accordance
with accounting principles generally accepted in their respective countries and which have been reviewed / audited by their respective
auditors under generally accepted auditing standards applicable in their respective countries. Our review report in so far as it
relates to the balances and affairs of such subsidiaries located outside India, is based on the reports of other auditors.
Walker Chandiok
& Co LLP
ICICI Bank Limited
Independent Auditor’s Review Report
on Consolidated Unaudited Quarterly Financial Results of ICICI Bank Limited pursuant to the Regulation of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)
Our conclusion is not modified
in respect of this matter.
|
|
7.
|
We have jointly audited with other auditors, the financial statements of one subsidiary, whose
interim financial statements reflect total assets of ₹ 167,880.14 crores as at 30 September 2019, total revenues of ₹
9,941.72 crores and ₹ 17,638.46 crores and total net profit after tax of ₹ 301.86 crores and ₹ 586.80 crores,
for the quarter and half-year ended 30 September 2019, respectively, and net cash outflows of ₹ 201.48 crores for the half-year
ended 30 September 2019, as considered in the Statement. For the purpose of our conclusion on the Statement, we have relied upon
the work of such other auditor, to the extent of work performed by them. Our conclusion is not modified in respect of this matter.
|
|
|
8.
|
The Statement includes the interim financial statements / information of four subsidiaries, whose
condensed interim financial statements / information reflect total assets of ₹ 49.03 crores as at 30 September 2019, total
revenues of ₹ 1.52 crores and ₹ 2.58 crores and total net loss of ₹ 0.14 crores and ₹ 0.46 crores, for
the quarter and half-year ended 30 September 2019, respectively, and net cash outflows of ₹ 1.30 crores for the half-year
ended 30 September 2019, as considered in the Statement. The Statement also includes the Group’s share of net profit of ₹
31.99 crores and ₹ 109.34 crores for the quarter and half-year ended 30 September 2019, respectively, in respect of seven
associates. The financial statements / information of the these subsidiaries and associates have not been reviewed / audited and
have been furnished to us by the management. Our conclusion on the Statement, and our report in terms of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Circular, in so far as it relates to the
aforesaid subsidiaries and associates, are based solely on such unaudited/unreviewed financial statements / information. According
to the information and explanations given to us by the management, these interim financial statements / information are not material
to the Group. Our conclusion is not modified in respect of this matter.
|
|
|
9.
|
The joint auditors, Walker Chandiok & Co LLP, Chartered Accountants, and B S R & Co. LLP,
Chartered Accountants, of ICICI Prudential Life Insurance Company Limited, vide their audit report dated 22 October 2019, have
expressed an unmodified opinion and have reported in the ‘Other Matter’ section that, ‘The actuarial valuation
of liabilities for life policies in force and policies in respect of which premium has been discontinued but liability exists as
at 30 September 2019 is the responsibility of the Company’s Appointed Actuary (the ‘Appointed Actuary’). The
actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued
but liability exists as at 30 September 2019, has been duly certified by the Appointed Actuary and in her opinion, the assumptions
for such valuation, are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority
of India (‘IRDAI’) and the Institute of Actuaries of India, in concurrence with the Authority’. The joint auditors
have relied upon the Appointed Actuary’s certificate in this regard for forming their opinion on the valuation of liabilities
for life policies in force and for policies in respect of which premium has been discontinued but liability exists on the financial
statements of the Company. Our conclusion is not modified in respect of this matter.
|
Walker Chandiok
& Co LLP
ICICI Bank Limited
Independent Auditor’s Review Report
on Consolidated Unaudited Quarterly Financial Results of ICICI Bank Limited pursuant to the Regulation of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)
|
|
10.
|
The joint auditors of ICICI Lombard General Insurance Company Limited, vide their audit report
dated 18 October 2019, have expressed an unmodified opinion and have reported in the ‘Other Matter’ section that, ‘The
actuarial valuation of liabilities in respect of Incurred But Not Reported (‘IBNR’), Incurred But Not Enough Reported
(‘IBNER’) and Premium Deficiency Reserve (the ‘PDR’) is the responsibility of the Company’s Panel
Actuary (the ‘Panel Actuary’). The actuarial valuation of these liabilities, that are estimated using statistical methods
as at 30 September 2019, has been duly certified by the Panel Actuary and in his opinion, the assumptions considered by him for
such valuation, are in accordance with the guidelines and norms issued by the IRDAI and the Institute of Actuaries of India, in
concurrence with IRDAI’. The joint auditors have relied upon the Panel Actuary’s certificate in this regard for forming
their opinion on the valuation of liabilities for outstanding claims reserves and the PDR contained in the financial statements
of the Company. Our conclusion is not modified in respect of this matter.
|
For Walker Chandiok &
Co LLP
Chartered Accountants
Firm Registration No: 001076N/N500013
Sd/-
Sudhir N. Pillai
Partner
Membership No. 105782
UDIN: 19105782AAAAGH3586
Place: Mumbai
Date: 26 October 2019
Walker Chandiok
& Co LLP
ICICI Bank Limited
Independent Auditor’s Review Report
on Consolidated Unaudited Quarterly Financial Results of ICICI Bank Limited pursuant to the Regulation of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (as amended)
Annexure 1
List of entities included in the Statement
Holding
Company
Subsidiaries
|
ii)
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ICICI Bank Canada
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|
iii)
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ICICI Bank UK PLC
|
|
iv)
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ICICI International Limited
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v)
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ICICI Prudential Life Insurance Company Limited
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vi)
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ICICI Prudential Pension Funds Management Company Limited
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vii)
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ICICI Securities Primary Dealership Limited
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viii)
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ICICI Home Finance Company Limited
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ix)
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ICICI Investment Management Company Limited
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x)
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ICICI Securities Limited,
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xi)
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ICICI Securities Holdings Inc.
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xii)
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ICICI Securities Inc.
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xiii)
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ICICI Venture Funds Management Company Limited
|
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xiv)
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ICICI Trusteeship Services Limited
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|
xv)
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ICICI Prudential Asset Management Company Limited
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xvi)
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ICICI Lombard General Insurance Company Limited
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xvii)
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ICICI Prudential Trust Limited
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|
|
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Consolidated as per AS 21
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|
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xviii)
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ICICI Strategic Investments Fund
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|
|
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Associates
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xix)
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I-Process Services (India) Private Limited
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xx)
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NIIT Institute of Finance Banking and Insurance Training Limited
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xxi)
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ICICI Merchant Services Private Limited
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xxii)
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Arteria Technologies Private Limited
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xxiii)
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India Infradebt Limited
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xxiv)
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India Advantage Fund III; and
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xxv)
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India Advantage Fund IV
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Item
3
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News
Release
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October
26, 2019
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Performance
Review: Quarter ended September 30, 2019
|
|
·
|
Core
operating profit (profit before provisions and tax, excluding treasury income) grew by
24% year-on-year to ₹ 6,533 crore (US$ 922 million) in the quarter ended
September 30, 2019 (Q2-2020)
|
|
|
·
|
Net
interest margin at 3.64% in Q2-2020
|
|
|
·
|
Fee
income grew by 16% year-on-year in Q2-2020
|
|
|
·
|
On
a standalone basis, the profit after tax was ₹ 655 crore (US$ 92 million) in Q2-2020
compared to ₹ 909 crore (US$ 128 million) in Q2-2019. Excluding the impact of one-time
additional charge due to re-measurement of accumulated deferred tax, profit after tax
would have been ₹ 3,575 crore (US$ 504 million) in Q2-2020 compared to ₹
909 crore (US$ 128 million) in Q2-2019.
|
|
|
·
|
25%
year-on-year growth in total deposits at September 30, 2019
|
|
|
·
|
Domestic
loan growth at 16% year-on-year at September 30, 2019 driven by retail
|
|
|
·
|
Retail
loans grew by 22% year-on-year
|
|
|
·
|
Net
non-performing asset (NPA) ratio decreased from 1.77% at June 30, 2019 to 1.60% at September
30, 2019 - the lowest in the last 15 quarters
|
|
|
·
|
Net NPAs decreased
by 51% from ₹ 22,086 crore (US$ 3.1 billion) at September 30, 2018 to ₹ 10,916 crore (US$ 1.5
billion) at September 30, 2019
|
|
|
·
|
Provisions
(excluding taxes) declined by 37% year-on-year to ₹ 2,507 crore (US$ 354 million)
at September 30, 2019
|
|
|
·
|
Total
capital adequacy ratio of 16.14% and Tier-1 capital adequacy ratio of 14.62% on standalone
basis at September 30, 2019, including profits for the half year ended September 30,
2019 (H1-2020)
|
The
Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held at Mumbai today, approved
the standalone and consolidated accounts of the Bank for the quarter ended September 30, 2019. The statutory auditors have conducted
a limited review and have issued an unmodified report on the standalone and consolidated financial statements for the quarter
ended September 30, 2019.
Profit
& loss account
|
|
·
|
The
core operating profit (profit before provisions and tax, excluding treasury income) increased
by 24% year-on-year to ₹
6,533 crore (US$ 922 million) in Q2-2020 from ₹
5,285 crore (US$ 746 million) in the quarted ended September 30, 2018 (Q2-2019).
|
|
|
·
|
Net interest income (NII) increased by 26% year-on-year to
₹ 8,057 crore (US$ 1.1 billion) in Q2-2020 from ₹ 6,418 crore (US$ 906 million) in Q2-2019.
|
|
|
·
|
The
net interest margin was 3.64% in Q2-2020 compared to 3.61% in Q1-2020 and 3.33% in Q2-2019.
|
|
|
·
|
Non-interest
income, excluding treasury income, was ₹
3,854 crore (US$ 544 million) in Q2-2020 compared to ₹
3,191 crore (US$ 450 million) in Q2-2019.
|
|
|
·
|
Fee
income grew by 16% year-on-year to ₹
3,478 crore (US$ 491 million) in Q2-2020 from ₹
2,995 crore (US$ 423 million) in Q2-2019. Retail fees constituted 74% of total
fees in Q2-2020
|
|
|
·
|
Treasury
reported a profit of ₹
341 crore (US$ 48 million) in Q2-2020 compared to a loss of ₹
35 crore (US$ 5 million) in Q2-2019.
|
|
|
·
|
Provisions
(excluding taxes) declined by 37% year-on-year to ₹
2,507 crore (US$ 354 million) in Q2-2020 from ₹
3,994 crore (US$ 564 million) in Q2-2019.
|
|
|
·
|
The
profit before tax was ₹
4,367 crore (US$ 616 million) in Q2-2020 compared to ₹
1,256 crore (US$ 177 million) in Q2-2019.
|
|
|
·
|
Tax expense was ₹ 3,712 crore (US$ 524 million) in
Q2-2020 compared to ₹ 347 crore (US$ 49 million) in Q2-2019. The tax expense in Q2-2020 includes the one-time
additional charge of ₹ 2,920 crore (US$ 412 million)
due to
re-measurement of accumulated deferred tax assets consequent to a reduction in marginal tax from 35% to 25%.
|
|
|
·
|
On a standalone basis, the profit after tax was ₹ 655
crore (US$ 92 million) in Q2-2020 compared to ₹ 909
crore (US$ 128 million) in Q2-2019. Excluding the impact of one-time additional charge due to re-measurement of
accumulated deferred tax, profit after tax would have been ₹ 3,575 crore (US$ 504 million) in Q2-2020 compared to ₹ 909
crore (US$ 128 million) in Q2-2019.
|
Operating
review
Credit
growth
The
year-on-year growth in domestic advances was 16% at September 30, 2019. The Bank has continued to leverage its strong retail franchise,
resulting in a 22% year-on-year growth in the retail loan portfolio at September 30, 2019. Including non-fund outstanding, retail
was 49.9% of the total portfolio at September 30, 2019. Excluding non-performing and restructured loans, the growth in domestic
corporate loans was about 7% year-on-year. Total advances increased by 13% year-on-year to ₹
613,359 crore (US$ 86.5 billion) at September 30, 2019 from ₹ 544,487 crore (US$ 76.8 billion) at September 30, 2018.
Deposit
growth
Total
deposits increased by 25% year-on-year to ₹ 696,273 crore
(US$ 98.2 billion) at September 30, 2019. Average CASA deposits increased by 11% year-on-year in Q2-2020. The average CASA ratio
was 42.2% in Q2-2020 compared to 43.4% in Q1-2020 and 47.1% in Q2-2019. The period-end CASA ratio was 46.7% at September 30, 2019
compared to 45.2% at June 30, 2019 and 50.8% at September 30, 2018. Term deposits increased by 35% year-on-year to ₹ 371,273
crore (US$ 52.4 billion) at September 30, 2019.
The
Bank had a network of 5,228 branches and 15,159 ATMs at September 30, 2019. The Bank is looking to open 450 branches during the
year ended March 31, 2020 (FY2020). During Q2-2020, 346 new branches were opened. The branches seek to meet evolving customer
requirements, with contemporary design, rationalised use of space and dedicated areas for transactions and customer engagement.
Rural
initiatives
The
Bank’s reach in rural areas is supported by a network of branches, on-field staff and business correspondents providing
last-mile access in remote areas. Of the Bank’s network of 5,228 branches, nearly half are in rural and semi-urban areas.
The Bank has a reach in over 100,000 villages and is working to provide dedicated banking services to the customers at their homes
in 66,000 of these villages. The Bank has also recently partnered with CSC e-Governance Services India to expand rural reach and
extend all banking services to the rural customers including transaction and bill payment services at their door step.
Digital
transactions
In
Q2-2020, the value of debit card transactions and credit card transactions increased by 13% y-o-y and 30% y-o-y respectively.
The volume of mobile transactions increased by 136% y-o-y in Q2-2020. Digital channels like internet, mobile banking, POS and
others accounted for over 87% of the savings account transactions in H1-2020.
Asset
quality
Net
NPAs decreased by 51% from ₹ 22,086 crore (US$ 3.1 billion) at September 30, 2018 to ₹ 10,916 crore (US$ 1.5 billion)
at September 30, 2019. The net NPA ratio decreased from 3.65% at September 30, 2018 and 1.77% at June 30, 2019 to 1.60% at September
30, 2019. The provision coverage on non-performing loans, excluding cumulative technical write-offs, increased from 58.9% at September
30, 2018 to 76.1% at September 30, 2019. The provision coverage ratio on non-performing loans, including cumulative technical
write-offs, was 85.0% at September 30, 2019 compared to 69.4% at September 30, 2018. The gross additions to NPAs were ₹
2,482 crore (US$ 350 million) in Q2-2020 compared to ₹ 3,117 crore (US$ 440 million) in Q2-2019 and ₹ 2,779
crore (US$ 392 million) in Q1-2020. Recoveries and upgrades of non-performing loans were ₹ 1,263 crore (US$ 178 million)
in Q2-2020 compared to ₹ 1,006 crore (US$ 142 million) in Q2-2019 and ₹ 931 crore (US$ 131 million) in Q1-2020. At
September 30, 2019, the fund-based and non-fund based outstanding to borrowers rated BB and below (excluding non-performing assets)
was ₹ 16,074 crore (US$ 2.3 billion) compared to ₹7,525 crore (US$ 2.5 billion) at March 31, 2019 and ₹ 15,355
crore (US$ 2.2 billion) at June 30, 2019.
Capital
adequacy
The
Bank’s total capital adequacy at September 30, 2019 as per Reserve Bank of India’s guidelines on Basel III norms,
including profits for H1-2020, was 16.14% and Tier-1 capital adequacy was 14.62% compared to the minimum regulatory requirements
of 11.08% and 9.08% respectively.
Consolidated
results
Consolidated
profit after tax was ₹ 1,131 crore (US$ 160 million) in Q2-2020 compared to ₹ 2,514 crore crore (US$ 355
million) in Q1-2020 and ₹ 1,205 crore (US$ 170 million)
in Q2-2019. Excluding the impact of one-time additional charge due to re-measurement of accumulated deferred tax, profit
after tax would have been ₹ 4,101 crore (US$
579 million) in Q2-2020.
Consolidated
assets grew by 13.3% year-on-year to ₹ 1,288,190 crore (US$ 181.8 billion) at September 30, 2019 from ₹
1,136,942 crore (US$ 160.4 billion) at September 30, 2018.
Subsidiaries
Value
of new business of ICICI Life grew by 20% year-on-year from ₹
590 crores (US$ 83 million) in the six months ended September 30, 2018 (H1-2019) to ₹709 crores (US$ 100 million)
in H1-2020. The new business margin increased from 17.0% in FY2019 to 21.0% in H1-2020. Protection based annualised
premium equivalent grew by 87% year-on-year to ₹ 497
crore (US$ 70 million) in H1-2020 and accounted for 14.8% of the total annualised premium equivalent in H1-2020. The Embedded
value grew by 18% from ₹19,248 crores (US$ 2.7 billion) at September 30, 2018 to ₹ 22,680 crore (US$ 3.2 billion)
at September 30, 2019. ICICI Life’s profit after tax was ₹ 587 crore (US$ 83 million) for H1-2020 compared to
₹ 583 crore (US$ 82 million) for H1-2019.
The
gross written premium of ICICI General was ₹ 6,591 crore
(US$ 930 million) in H1-2020 compared to ₹ 7,492 crore (US$
1.1 billion) in H1-2019. The company’s combined ratio was 101.5% in H1-2020 compared to 100.1% in H1-2019. ICICI General’s
profit after tax increased by 6% to ₹618 crore (US$ 87 million)
in H1-2020 from ₹ 582 crore (US$ 82 million) in H1-2019.
The
profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, was ₹
135 crore (US$ 19 million) in Q2-2020 compared to ₹
134 crore (US$ 19 million) in Q2-2019.
The
profit after tax of ICICI Prudential Asset Management Company (ICICI AMC), as per Ind AS, was ₹
305 crore (US$ 43 million) in Q2-2020 compared to ₹
196 crore (US$ 28 million) in Q2-2019.
Summary
Profit and Loss Statement (as per standalone Indian GAAP accounts)
crore
|
|
FY2019
|
Q1-2019
|
Q2-2019
|
H1-
2019
|
Q1-
2020
|
Q2-
2020
|
H1-
2020
|
|
Net
interest income
|
27,015
|
6,102
|
6,418
|
12,520
|
7,737
|
8,057
|
15,794
|
|
Non-interest
income
|
13,146
|
3,085
|
3,191
|
6,276
|
3,247
|
3,854
|
7,101
|
|
-
Fee income
|
11,989
|
2,754
|
2,995
|
5,749
|
3,039
|
3,478
|
6,517
|
|
-
Dividend income from subsidiaries
|
1,078
|
317
|
167
|
485
|
191
|
377
|
568
|
|
-
Other income
|
79
|
14
|
29
|
42
|
17
|
(1)
|
16
|
|
Less:
|
|
|
|
|
|
|
|
|
Operating
expense
|
18,089
|
4,145
|
4,324
|
8,469
|
4,874
|
5,378
|
10,252
|
|
Core
operating profit2
|
22,072
|
5,042
|
5,285
|
10,327
|
6,110
|
6,533
|
12,643
|
|
-
Treasury income1
|
1,366
|
766
|
(35)
|
731
|
179
|
341
|
520
|
|
Operating
profit
|
23,438
|
5,808
|
5,250
|
11,058
|
6,289
|
6,874
|
13,163
|
|
Less:
|
|
|
|
|
|
|
|
|
Provisions
|
19,661
|
5,971
|
3,994
|
9,965
|
3,496
|
2,507
|
6,003
|
|
Profit
before tax
|
3,777
|
(163)
|
1,256
|
1,093
|
2,793
|
4,367
|
7,160
|
|
Less:
|
|
|
|
|
|
|
|
|
Tax
|
414
|
(43)
|
347
|
304
|
885
|
792
|
1,677
|
|
One
time additional charge on re-measurement of deferred tax assets
|
-
|
-
|
-
|
-
|
-
|
2,920
|
2,920
|
|
Profit
after tax
|
3,363
|
(120)
|
909
|
789
|
1,908
|
655
|
2,563
|
|
|
1.
|
Includes profit on sale of shareholding in subsidiaries of
₹ 1,110 crore in FY2019 and Q1-2019.
|
|
|
2.
|
Excluding treasury income
|
|
|
3.
|
The Bank has decided
to exercise the option of lower tax rate available under Section 115BAA of the Income Tax Act, 1961, as introduced by Taxation
Laws (Amendment) Ordinance, 2019, with effect from FY2020. Accordingly, the Bank has recognised the provision for income tax for
Q2-2020 and H1-2020 and re-measured the accumulated deferred tax asset at March 31, 2019 based on the rate prescribed under Section
115BAA. The resultant impact has been taken through the profit and loss account. The re-measurement of accumulated deferred tax
asset has resulted in a one-time additional charge of ₹ 29.20
billion in standalone financial results in Q2-2020 and H1-2020. Excluding the impact of one-time additional charge due to re-measurement
of accumulated deferred tax, standalone net profit would have been ₹
35.75 billion for Q2-2020 and ₹ 54.83 billion for
H1-2020
|
|
|
4.
|
Prior period figures
have been re-grouped/re-arranged where necessary
|
Summary
Balance Sheet
crore
|
|
30-Sep-18
|
31-Mar-19
|
30-Jun-19
|
30-Sep-19
|
|
Capital
and Liabilities
|
|
|
|
|
|
Capital
|
1,287
|
1,289
|
1,291
|
1,292
|
|
Employee
stock options outstanding
|
5
|
5
|
5
|
4
|
|
Reserves
and surplus
|
104,080
|
107,074
|
109,104
|
109,314
|
|
Deposits
|
558,669
|
652,920
|
660,732
|
696,273
|
|
Borrowings
(includes subordinated debt)
|
174,686
|
165,320
|
156,720
|
151,033
|
|
Other
liabilities
|
35,613
|
37,851
|
35,901
|
39,095
|
|
Total
Capital and Liabilities
|
874,340
|
964,459
|
963,753
|
997,011
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Cash
and balances with Reserve Bank of India
|
33,122
|
37,858
|
35,990
|
414,95
|
|
Balances
with banks and money at call and short notice
|
24,490
|
42,438
|
29,758
|
30,144
|
|
Investments
|
187,500
|
207,733
|
219,996
|
223,376
|
|
Advances
|
544,487
|
586,647
|
592,415
|
613,359
|
|
Fixed
assets
|
7,842
|
7,931
|
7,858
|
7,936
|
|
Other
assets
|
76,899
|
81,852
|
77,736
|
80,701
|
|
Total
Assets
|
874,340
|
964,459
|
963,753
|
997,011
|
|
|
1.
|
Prior period figures
have been re-grouped/re-arranged where necessary.
|
Certain
statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth
prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including
the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties
that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties
include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or
economic instability in the jurisdictions where we have operations, increase in non-performing loans, unanticipated changes in
interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy
of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow
projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports
filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based
on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update
forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future
operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings
are available at www.sec.gov.
This
release does not constitute an offer of securities.
For
further press queries please call Sujit Ganguli / Kausik Datta at 91-22-2653 8525 / 91-22-2653 7026 or email corporate.communications@icicibank.com
For
investor queries please call Anindya Banerjee at 91-22-2653 7131 or Sonal Bagaria at 91-22-2653 6124 or email ir@icicibank.com.
1
crore = 10.0 million
US$
amounts represent convenience translations at US$1=
70.88
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
|
|
|
For
ICICI Bank Limited
|
|
|
|
|
|
|
|
|
|
Date:
|
October 26,
2019
|
|
By:
|
/s/ Vivek Ranjan
|
|
|
|
|
|
|
|
|
|
|
|
Name :
|
Vivek Ranjan
|
|
|
|
|
|
Title :
|
Chief Manager
|
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