With corporate and SME sectors experiencing challenges, ICICI Bank continued its calibrated approach to lending in these segments and maintained its approach of balancing growth, profitability and risk management, according Chanda Kochhar, Managing Director and CEO.
In her annual letter to shareholders, Ms. Kochhar said the economy entered a new phase with several policy initiatives and positive trends in a number of macro-economic indicators. But the corporate and SME sectors continued to experience challenges given the prolonged slowdown and gradual pace of recovery during the last fiscal.
“This resulted in continued additions to non-performing and restructured loans for the banking sector,” she said.
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During 2014-15, the bank continued its focus on retail portfolio, maintaining a robust funding profile and further improving key operating parameters – including margins and operating efficiency.
“Our non-banking businesses also achieved healthy growth, and we continued to maintain a very strong capital position,” she noted in the letter.
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“At the ICICI Group, we will continue to focus on leveraging technology to deliver innovative and convenient banking solutions and capitalising on the growth opportunities that will arise as the economy grows, and sustaining our operating parameters as we grow, to further enhance our return on equity,” she said.