ICICI Bank Performance Review – Quarter And Year Ended March 31, 2010
The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the year ended March 31, 2010.
Profit & loss account
During the year ended March 31, 2010, the Bank has significantly strengthened its deposit franchise. This is reflected in the strong growth in savings and current account deposits and increase in the CASA ratio. The Bank continues to invest in expansion of its branch network to enhance its deposit franchise and create an integrated distribution network for both asset and liability products.CASA deposits increased 34% to Rs. 84,216 crore (US$ 18.8 billion) at March 31, 2010 from Rs. 62,668 crore (US$ 14.0 billion) at March 31, 2009 and the CASA ratio increased from 28.7% at March 31, 2009 to 41.7% at March 31, 2010. Total deposits of the Bank were Rs. 202,017 crore (US$ 45.0 billion) at March 31, 2010, compared to Rs. 218,348 crore (US$ 48.6 billion) at March 31, 2009.
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