ICICI Bank: Investor Presentation on Performance Review - Q3-2023

Q3-2023: Performance review

January 21, 2023

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, and the impact of the Covid-19 pandemic which could result in fewer business opportunities, lower revenues, and an increase in the levels of non-performing assets and provisions, depending inter alia upon the period of time for which the pandemic extends, the remedial measures adopted by governments and central banks, and the sustenance of economic activity 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.

2

Highlights for Q3-2023

3

Key highlights for Q3-2023 (1/2)

Core

operating

profit1

Deposits

Advances

• Growth of 31.6% y-o-y to ₹ 132.35 billion
• Excluding dividend income from subsidiaries and associates, core operating profit grew by 34.5% y-o-y
• Average current account deposits increased by 7.9% y-o-y
• Average savings account deposits increased by 11.4% y-o-y
• Period-endterm deposits grew by 14.2% y-o-y at December 31, 2022
• Domestic loans grew by 21.4% y-o-y and 4.2% q-o-q
• Retail loans grew by 23.4% y-o-y and 4.5% q-o-q
• Business banking portfolio grew by 37.9% y-o-y and 5.2% q-o-q
• SME portfolio grew by 25.0% y-o-y and 8.3% q-o-q
• Domestic corporate portfolio grew by 18.2% y-o-y and 4.7% q-o-q

1. Profit before provision and taxes, excluding treasury income

4

Key highlights for Q3-2023 (2/2)

Asset

quality

Profit after

tax and capital

• • Net NPA ratio declined to 0.55% at Dec 31, 2022 from 0.61% at Sep 30, 2022 and 0.85% at Dec 31, 2021
  • Net additions of ₹ 11.19 bn to gross NPAs in Q3-2023(Q2-2023: ₹ 6.05 bn)
  • Total provisions of ₹ 22.57 bn in Q3-2023 (0.93% of average loans, 17.1% of core operating profit)
  • • Provisioning norms on NPAs changed to make it more conservative, impact of ₹ 11.96 bn on provisions
    • Contingency provision of ₹ 15.00 billion made on a prudent basis
  • Provision coverage was 82.0% at Dec 31, 2022 (Sep 30, 2022: 80.6%)
  • Fund based o/s of ₹ 49.87 bn (0.5% of advances) to all standard borrowers under resolution; provisions of ₹ 15.29 bn held against these borrowers
  • Contingency provisions of ₹ 115.00 bn at Dec 31, 2022
• Profit after tax grew by 34.2% y-o-y to ₹ 83.12 bn in Q3-2023
• Common Equity Tier 1 ratio of 17.09%1

1. Including profits for 9M-2023	5