Standalone Financial Results : Quarter ended December 31, 2021

2

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: [phone],Fax: [phone],Email: [e-mail]

Website: www.icicibank.com

STANDALONE FINANCIAL RESULTS

										(₹ in crore)
				Three months ended		Nine months ended	Year ended
Sr.				December	September		December	December	December	March
		Particulars	31, 2021	30, 2021		31, 2020	31, 2021	31, 2020	31, 2021
no.
			(Q3-2022)	(Q2-2022)		(Q3-2021)	(9M-2022)	(9M-2021)	(FY2021)
				(Unaudited)	(Unaudited)		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1.	Interest earned (a)+(b)+(c)+(d)	22,082.60	21,233.64		19,729.79	63,699.65	59,276.60	79,118.27
	a)	Interest/discount on advances/bills	16,234.21	15,738.09		14,034.81	46,956.88	42,649.39	57,288.81
	b)	Income on investments	4,050.30	4,098.07		4,120.45	12,189.88	12,624.94	16,539.78
	c)	Interest on balances with Reserve Bank of India and
		other inter-bank funds	547.58	259.50		458.13	947.85	1,324.08	1,631.91
	d)	Others	1,250.51	1,137.98		1,116.40	3,605.04	2,678.19	3,657.77
2.	Other income (refer note no.6)	4,987.07	4,797.18		4,686.27	13,780.11	14,857.18	18,968.53
3.	TOTAL INCOME (1)+(2)	27,069.67	26,030.82		24,416.06	77,479.76	74,133.78	98,086.80
4.	Interest expended	9,846.56	9,543.90		9,817.33	28,838.11	30,718.30	40,128.84
5.	Operating expenses (e)+(f)	7,074.86	6,572.20		5,778.97	19,684.28	15,558.18	21,560.83
	e)	Employee cost (refer note no. 3)	2,484.84	2,384.59		1,949.93	7,243.82	6,083.35	8,091.78
	f)	Other operating expenses	4,590.02	4,187.61		3,829.04	12,440.46	9,474.83	13,469.05
6.	TOTAL EXPENDITURE (4)+(5)
	(excluding provisions and contingencies)	16,921.42	16,116.10		15,596.30	48,522.39	46,276.48	61,689.67
7.	OPERATING PROFIT (3)-(6)
	(Profit before provisions and contingencies)	10,148.25	9,914.72		8,819.76	28,957.37	27,857.30	36,397.13
8.	Provisions (other than tax) and contingencies (refer
	note no. 4 and 5)	2,007.30	2,713.48		2,741.72	7,572.47	13,330.94	16,214.41
9.	PROFIT FROM ORDINARY ACTIVITIES BEFORE
	EXCEPTIONAL ITEMS AND TAX (7)-(8)	8,140.95	7,201.24		6,078.04	21,384.90	14,526.36	20,182.72
10.	Exceptional items	..	..		..	..	..	..
11.	PROFIT FROM ORDINARY ACTIVITIES BEFORE TAX
	(9)-(10)	8,140.95	7,201.24		6,078.04	21,384.90	14,526.36	20,182.72
12.	Tax expense (g)+(h)	1,947.14	1,690.29		1,138.45	5,064.12	2,736.29	3,990.04
	g)	Current period tax	1,647.63	1,577.87		1,401.51	4,527.28	3,272.39	4,665.66
	h)	Deferred tax adjustment	299.51	112.42		(263.06)	536.84	(536.10)	(675.62)
13.	NET PROFIT FROM ORDINARY ACTIVITIES AFTER TAX
	(11)-(12)	6,193.81	5,510.95		4,939.59	16,320.78	11,790.07	16,192.68
14.	Extraordinary items (net of tax expense)	..	..		..	..	..	..
15.	NET PROFIT FOR THE PERIOD (13)-(14)	6,193.81	5,510.95		4,939.59	16,320.78	11,790.07	16,192.68
16.	Paid-up equity share capital (face value ₹ 2 each)	1,388.88	1,387.09		1,380.95	1,388.88	1,380.95	1,383.41
17.	Reserves excluding revaluation reserves	158,389.81	152,176.34		138,269.45	158,389.81	138,269.45	143,029.08
18.	Analytical ratios
	i)	Percentage of shares held by Government of India	0.19%	0.20%		0.34%	0.19%	0.34%	0.34%
	ii)	Capital adequacy ratio (Basel III)	17.91%	18.33%		18.04%	17.91%	18.04%	19.12%
	iii)	Earnings per share (EPS)
		a)	Basic EPS before and after extraordinary items,
			net of tax expense (not annualised) (in ₹)	8.93	7.95		7.16	23.55	17.63	24.01
		b)	Diluted EPS before and after extraordinary
			items, net of tax expense (not annualised) (in ₹)	8.74	7.79		7.05	23.08	17.42	23.67
19.	NPA Ratio1
	i)	Gross non-performing customer assets (net of
		write-off)	37,052.74	41,437.41		34,860.43	37,052.74	34,860.43	41,373.42
	ii)	Net non-performing customer assets	7,343.88	8,161.04		4,860.55	7,343.88	4,860.55	9,180.20
	iii)	% of gross non-performing customer assets (net of
		write-off) to gross customer assets	4.13%	4.82%		4.38%2	4.13%	4.38%2	4.96%
	iv)	% of net non-performing customer assets to net
		customer assets	0.85%	0.99%		0.63%2	0.85%	0.63%2	1.14%
20.	Return on assets (annualised)	1.90%	1.79%		1.70%	1.74%	1.39%	1.42%
21.	Net worth3	151,044.26	144,264.76		130,095.79	151,044.26	130,095.79	134,709.32
22.	Outstanding redeemable preference shares	..	..		..	..	..	..
23.	Capital redemption reserve	350.00	350.00		350.00	350.00	350.00	350.00
24.	Debt-equity ratio4	0.39	0.38		0.50	0.39	0.50	0.51
25.	Total debts to total assets5	8.09%	6.50%		9.35%	8.09%	9.35%	7.45%

1. At December 31, 2021, the percentage of gross non-performing advances (net of write-off) to gross advances was 4.32% (September 30, 2021: 5.12%, March 31, 2021:
   5.33%, December 31, 2020: 4.72%) and net non-performing advances to net advances was 0.90% (September 30, 2021: 1.06%, March 31, 2021: 1.24%, December 31, 2020: 0.69%).
2. Including borrower accounts overdue for more than 90 days at December 31, 2020 and not classified as NPA pursuant to the Supreme Court order, the pro forma gross NPA ratio and net NPA ratio (based on customer assets), would have been 5.42% and 1.26% respectively at December 31, 2020.
3. Net worth is computed as per RBI Master Circular No. RBI/2015-16/70DBR.No.Dir.BC.12/13.03.00/2015-16 on Exposure Norms dated July 1, 2015.
4. Debt represent borrowings with residual maturity of more than one year.
5. Total debt represents total borrowings of the Bank.

1

SUMMARISED STANDALONE BALANCE SHEET

					(₹ in crore)
		At
Particulars	December	September		March	December
31, 2021	30, 2021		31, 2021	31, 2020
	(Unaudited)	(Unaudited)		(Audited)	(Unaudited)
Capital and Liabilities
Capital	1,388.88	1,387.09		1,383.41	1,380.95
Employees stock options outstanding	196.57	127.22		3.10	3.26
Reserves and surplus	161,482.68	155,269.93		146,122.67	141,384.32
Deposits	1,017,466.71	977,448.59		932,522.16	874,347.55
Borrowings (includes subordinated debt)	109,585.42	82,988.53		91,630.96	111,608.07
Other liabilities and provisions	64,075.37	58,780.94		58,770.38	64,493.04
Total Capital and Liabilities	1,354,195.63	1,276,002.30		1,230,432.68	1,193,217.19
Assets
Cash and balances with Reserve Bank of India	55,643.55	45,097.02		46,031.19	29,405.64
Balances with banks and money at call and short notice	125,265.77	104,946.82		87,097.06	104,863.87
Investments	284,823.43	285,220.04		281,286.54	275,260.63
Advances	813,991.62	764,937.43		733,729.09	699,017.46
Fixed assets	9,155.60	9,153.23		8,877.58	8,716.76
Other assets	65,315.66	66,647.76		73,411.22	75,952.83
Total Assets	1,354,195.63	1,276,002.30		1,230,432.68	1,193,217.19

2

CONSOLIDATED FINANCIAL RESULTS

									(₹ in crore)
			Three months ended		Nine months ended	Year ended
Sr.			December	September		December	December	December	March
	Particulars	31, 2021	30, 2021		31, 2020
no.			31, 2021	31, 2020	31, 2021
		(Q3-2022)	(Q2-2022)		(Q3-2021)
				(9M-2022)	(9M-2021)	(FY2021)
			(Unaudited)	(Unaudited)		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1.	Interest earned (a)+(b)+(c)+(d)	24,314.25	23,478.00		22,213.88	70,407.41	66,863.08	89,162.66
	a)	Interest/discount on advances/bills	17,019.99	16,488.48		14,761.80	49,205.91	44,903.43	60,261.69
	b)	Income on investments	5,384.90	5,502.13		5,793.88	16,367.09	17,708.63	23,264.25
	c)	Interest on balances with Reserve Bank of India and
		other inter-bank funds	616.17	321.56		523.19	1,135.18	1,516.38	1,881.72
	d)	Others	1,293.19	1,165.83		1,135.01	3,699.23	2,734.64	3,755.00
2.	Other income (refer note no. 6)	15,551.55	16,006.49		18,205.20	44,294.85	50,761.47	72,029.53
3.	TOTAL INCOME (1)+(2)	39,865.80	39,484.49		40,419.08	114,702.26	117,624.55	161,192.19
4.	Interest expended	10,372.37	10,092.56		10,412.04	30,532.74	32,704.01	42,659.09
5.	Operating expenses (e)+(f)	18,341.79	18,267.01		19,784.13	52,479.64	52,538.36	76,271.67
	e)	Employee cost (refer note no. 3)	3,232.59	3,021.92		2,658.38	9,226.28	8,247.67	11,050.91
	f)	Other operating expenses	15,109.20	15,245.09		17,125.75	43,253.36	44,290.69	65,220.76
6.	TOTAL EXPENDITURE (4)+(5)
	(excluding provisions and contingencies)	28,714.16	28,359.57		30,196.17	83,012.38	85,242.37	118,930.76
7.	OPERATING PROFIT (3)-(6)
	(Profit before provisions and contingencies)	11,151.64	11,124.92		10,222.91	31,689.88	32,382.18	42,261.43
8.	Provisions (other than tax) and contingencies (refer
	note no. 4 and 5)	2,128.54	2,774.17		2,700.29	7,873.38	13,454.82	16,377.39
9.	PROFIT FROM ORDINARY ACTIVITIES BEFORE
	EXCEPTIONAL ITEMS AND TAX (7)-(8)	9,023.10	8,350.75		7,522.62	23,816.50	18,927.36	25,884.04
10.	Exceptional items	..	..		..	..	..	..
11.	Add: Share of profit in associates	192.99	254.77		35.37	575.67	90.64	144.29
12.	PROFIT FROM ORDINARY ACTIVITIES BEFORE TAX
	AND MINORITY INTEREST (9)-(10)+(11)	9,216.09	8,605.52		7,557.99	24,392.17	19,018.00	26,028.33
13.	Tax expense (g)+(h)	2,256.20	2,034.92		1,538.21	5,943.02	3,984.98	5,664.37
	g)	Current period tax	1,922.52	1,897.65		1,825.85	5,382.71	4,666.75	6,261.18
	h)	Deferred tax adjustment	333.68	137.27		(287.64)	560.31	(681.77)	(596.81)
14.	Less: Share of profit/(loss) of minority shareholders	423.34	478.76		521.63	1,057.99	1,534.86	1,979.64
15.	NET PROFIT FROM ORDINARY ACTIVITIES AFTER TAX
	(12)-(13)-(14)	6,536.55	6,091.84		5,498.15	17,391.16	13,498.16	18,384.32
16.	Extraordinary items (net of tax expense)	..	..		..	..	..	..
17.	NET PROFIT FOR THE PERIOD (15)-(16)	6,536.55	6,091.84		5,498.15	17,391.16	13,498.16	18,384.32
18.	Paid-up equity share capital (face value ₹ 2/- each)	1,388.88	1,387.09		1,380.95	1,388.88	1,380.95	1,383.41
19.	Reserves excluding revaluation reserves	170,403.44	163,965.39		147,679.51	170,403.44	147,679.51	153,075.71
20.	Analytical ratios
	Basic EPS before and after extraordinary items, net of
	tax expense (not annualised) (in ₹)	9.42	8.79		7.97	25.10	20.18	27.26
	Diluted EPS before and after extraordinary items, net of
	tax expense (not annualised) (in ₹)	9.21	8.60		7.84	24.56	19.91	26.83

3

SUMMARISED CONSOLIDATED BALANCE SHEET

									(₹ in crore)
						At
	Particulars				December	September		March	December
				31, 2021	30, 2021		31, 2021	31, 2020
					(Unaudited)	(Unaudited)		(Audited)	(Unaudited)
Capital and Liabilities
Capital					1,388.88	1,387.09		1,383.41	1,380.95
Employees stock options outstanding				196.57	127.22		3.10	3.26
Reserves and surplus					173,528.00	167,090.67		156,200.99	150,822.87
Minority interest					5,801.53	5,617.31		9,588.34	9,256.60
Deposits					1,044,290.24	1,004,197.02		959,940.02	904,332.98
Borrowings (includes subordinated debt)				154,609.58	128,017.78		143,899.94	154,718.42
Liabilities on policies in force				226,445.59	226,633.26		203,180.04	194,227.16
Other liabilities and provisions				76,643.45	70,982.57		99,616.40	104,610.98
Total Capital and Liabilities				1,682,903.84	1,604,052.92		1,573,812.24	1,519,353.22
Assets
Cash and balances with Reserve Bank of India				55,694.25	45,449.00		46,302.20	29,839.70
Balances with banks and money at call and short notice				139,920.95	118,107.69		101,268.33	118,440.33
Investments					531,822.43	532,848.50		536,578.62	513,138.95
Advances					874,594.01	823,961.92		791,801.39	757,746.07
Fixed assets					10,381.79	10,357.93		10,809.26	10,662.75
Other assets					70,490.41	73,327.88		87,052.44	89,525.42
Total Assets					1,682,903.84	1,604,052.92		1,573,812.24	1,519,353.22
		CONSOLIDATED SEGMENTAL RESULTS
									(₹ in crore)
			Three months ended		Nine months ended	Year ended
Sr.		December	September	December	December	December	March
Particulars	31, 2021	30, 2021		31, 2020	31, 2021		31, 2020	31, 2021
no.
	(Q3-2022)	(Q2-2022)	(Q3-2021)	(9M-2022)	(9M-2021)	(FY2021)
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)

1. Segment Revenue

a	Retail Banking	21,662.91	20,985.88	19,051.50	62,356.13	55,872.62	75,669.29
b	Wholesale Banking	10,327.98	9,686.57	9,279.22	29,484.33	28,054.22	37,194.53
c	Treasury	17,090.39	16,639.52	15,954.61	49,877.39	51,067.28	66,481.09
d	Other Banking	765.09	656.41	849.80	2,126.85	2,460.51	3,180.06
e	Life Insurance	11,157.92	11,658.00	11,085.66	32,000.06	28,947.02	43,621.59
f	General Insurance	..	..	3,369.50	..	9,560.37	12,964.83
g	Others	2,141.48	2,265.23	1,899.98	6,510.50	5,909.60	7,827.03
	Total segment revenue	63,145.77	61,891.61	61,490.27	182,355.26	181,871.62	246,938.42
	Less: Inter segment revenue	23,279.97	22,407.12	21,071.19	67,653.00	64,247.07	85,746.23
	Income from operations	39,865.80	39,484.49	40,419.08	114,702.26	117,624.55	161,192.19

2. Segmental Results (i.e. Profit before tax and minority

	interest)
a	Retail Banking	3,761.58	2,606.16	(329.50)	6,757.15	5,441.50	7,739.97
b	Wholesale Banking	1,990.64	1,876.37	1,595.87	5,775.47	3,295.46	5,819.95
c	Treasury	2,050.81	2,632.13	2,339.58	7,351.03	8,801.68	10,615.59
d	Other Banking	265.58	156.55	207.35	567.45	495.71	573.57
e	Life Insurance	310.63	474.66	326.46	569.47	967.52	1,081.18
f	General Insurance	..	..	418.23	..	1,503.84	1,953.95
g	Others	1,048.02	1,188.20	1,019.97	3,190.71	2,976.63	4,007.71
h	Unallocated expenses	..	..	2,297.30	1,050.00	(3,750.00)	(4,750.00)
	Total segment results	9,427.26	8,934.07	7,875.26	25,261.28	19,732.34	27,041.92
	Less: Inter segment adjustment	404.16	583.32	352.64	1,444.78	804.98	1,157.88
	Add: Share of profit in associates	192.99	254.77	35.37	575.67	90.64	144.29
	Profit before tax and minority interest	9,216.09	8,605.52	7,557.99	24,392.17	19,018.00	26,028.33

3. Segment assets

a	Retail Banking	459,678.08	440,449.89	385,721.73	459,678.08	385,721.73	412,498.65
b	Wholesale Banking	362,965.28	334,763.84	317,952.79	362,965.28	317,952.79	325,937.50
c	Treasury	511,884.47	482,178.51	458,737.93	511,884.47	458,737.93	460,232.05
d	Other Banking	66,070.09	65,889.47	76,371.41	66,070.09	76,371.41	75,068.23
e	Life Insurance	241,108.93	241,441.14	207,531.21	241,108.93	207,531.21	216,918.91
f	General Insurance	..	..	38,697.94	..	38,697.94	38,943.61
g	Others	41,015.10	40,544.01	32,816.54	41,015.10	32,816.54	44,599.48
h	Unallocated	11,207.00	10,695.36	15,745.71	11,207.00	15,745.71	14,359.97
	Total	1,693,928.95	1,615,962.22	1,533,575.26	1,693,928.95	1,533,575.26	1,588,558.40
	Less: Inter segment adjustment	11,025.11	11,909.30	14,222.04	11,025.11	14,222.04	14,746.16
	Total segment assets	1,682,903.84	1,604,052.92	1,519,353.22	1,682,903.84	1,519,353.22	1,573,812.24

4. Segment liabilities

a	Retail Banking	754,170.26	726,094.15	661,293.64	754,170.26	661,293.64	686,920.79
b	Wholesale Banking	309,777.81	293,984.46	256,049.68	309,777.81	256,049.68	282,163.92
c	Treasury	134,624.96	106,797.40	142,021.01	134,624.96	142,021.01	121,596.08
d	Other Banking	48,710.17	48,834.28	59,841.16	48,710.17	59,841.16	56,774.88
e	Life Insurance	232,222.12	232,835.33	198,748.47	232,222.12	198,748.47	207,915.76
f	General Insurance	..	..	31,344.47	..	31,344.47	31,143.21
g	Others	34,099.72	33,601.16	26,809.29	34,099.72	26,809.29	38,195.80
h	Unallocated	5,210.46	5,210.46	5,260.46	5,210.46	5,260.46	6,260.46
	Total	1,518,815.50	1,447,357.24	1,381,368.18	1,518,815.50	1,381,368.18	1,430,970.90
	Less: Inter segment adjustment	11,025.11	11,909.30	14,222.04	11,025.11	14,222.04	14,746.16
	Total segment liabilities	1,507,790.39	1,435,447.94	1,367,146.14	1,507,790.39	1,367,146.14	1,416,224.74

5. Capital employed (i.e. Segment assets -

	Segment liabilities)
a	Retail Banking	(294,492.18)	(285,644.25)	(275,571.91)	(294,492.18)	(275,571.91)	(274,422.14)
b	Wholesale Banking	53,187.47	40,779.38	61,903.11	53,187.47	61,903.11	43,773.58
c	Treasury	377,259.51	375,381.11	316,716.92	377,259.51	316,716.92	338,635.97
d	Other Banking	17,359.92	17,055.19	16,530.25	17,359.92	16,530.25	18,293.35
e	Life Insurance	8,886.81	8,605.81	8,782.74	8,886.81	8,782.74	9,003.15
f	General Insurance	..	..	7,353.47	..	7,353.47	7,800.40
g	Others	6,915.38	6,942.84	6,007.25	6,915.38	6,007.25	6,403.68
h	Unallocated	5,996.54	5,484.90	10,485.25	5,996.54	10,485.25	8,099.51
	Total capital employed	175,113.45	168,604.98	152,207.08	175,113.45	152,207.08	157,587.50
			4

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 of the Bank 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, by the Bank 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. From April 1, 2021, ICICI Lombard General Insurance Company Limited ceased to be a subsidiary and accordingly general insurance has been discontinued as a business segment from April 1, 2021. From April 1, 2021, the Bank's share in the net profit of ICICI Lombard General Insurance Company Limited is included in "share of profit in associates".
8. 'Others' comprises the consolidated entities of the Bank, not covered in any of the segments above.
9. 'Unallocated' includes items such as tax paid in advance net of provision, deferred tax and provisions to the extent reckoned at the entity level.

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