Awards of Excellence
Asian regional awards
 |
Best Bank: ICICI
Best Equity House: DSP Merrill Lynch
Best M&A House: UBS
Best Debt House & Best Investment Bank: Deutsche Bank |
ICICI Bank is India’s flagship lender. The country’s second-largest bank, with total assets of $79 billion at March 31 2007, ICICI is also the country’s largest home loans provider, as well the leader in India’s burgeoning private life insurance sector.
ICICI has had a great past 12 months. Operating profit in the year to March 31 2007 surged 51% to $1.35 billion, from $894 million the previous year. Net interest income rose 41% to $1.53 billion in the year to March 31, and fee income increased 45% to $1.15 billion.
The bank is doing well at home and abroad. It boasts offices and subsidiaries in 17 countries, and at home the bank added 141 new branches to its network in the year to March 31, pushing the total to 755, while its total number of registered ATMs rose by nearly a third, to 3,271. Its underlying health remained strong – ICICI posted a non-performing loan rate of just 0.98%
