ICICI BANK
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses ICICI Bank was incorporated in 1994 as a part of the ICICI group. In 1999, ICICI became the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the New York Stock Exchange, In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited.
The shareholding pattern of ICICI Bank is as follows: No Promoter holding, foreign institutional investors with 47.81, domestic institutional investors at 41.70%, Public with 10.06% and Government Holdings of 0.43%.
The consolidated Total Income of ICICI Bank for the year ending 31st March 2021 stood at Rs.161,336.48 Cr. with a growth of 7.7% Y-o-Y. The bank’s profit after tax (PAT) grew by 104% year-on-year to ₹16,193 Cr in FY2021 compared to ₹ 7,931 Cr in the year ended March 31, 2020 (FY2020). It’s core operating profit (profit before provisions and tax, excluding treasury income) grew by 20% year-on-year to ₹8,565 crore in the quarter ended March 31, 2021(Q4-2021).
The Bank made additional Covid-19 related provision of ₹1,000 Cr in Q4-2021 and held Covid-19 related provisions of ₹7,475 Cr at March 31, 2021.
Apart from this, a huge rise in the consolidated basic EPS is observed. The EPS increased to 27.26 for FY2020-21, from the earlier 14.81 in FY2019-20.
