Friday, June 5, 2009

ICICI Bank to diversify funding, revenue streams

Foreseeing Indian economy back on a high-growth trajectory in the coming months, ICICI Bank today announced that it was looking at expanding its fund- generation profile and revenue streams to capitalise on the forthcoming opportunities.

''Looking ahead, we see favourable prospects for the Indian economy.... India has weathered the global storm with a high degree of resilience and we expect the Indian economy to return to a robust growth path ahead of other economies that are experiencing recessionary conditions,'' ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar said in a statement here.

''As we prepare ourselves for the next phase of growth, we will work on further diversifying our funding profile and revenue streams,'' she said in her message to the bank's shareholders in its annual report for 2008-09.

Since 2007, as the global and Indian economic environment has changed rapidly, the bank has focused on a conscious strategy of capital conservation, risk containment and efficiency improvement.

''We have healthy capital adequacy, sound liquidity and improved cost efficiencies,'' she added.

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