Banking

Performance Review: Q1-2010

July 25, 2009

Certain statements in these slides are forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in ICICI Bank's filings with the Securities and Exchange Commission. All financial and other information in these slides, other than financial and other information for specific subsidiaries where specifically mentioned, is on an unconsolidated basis for ICICI Bank Limited only unless specifically stated to be on a consolidated basis for ICICI Bank Limited and its subsidiaries. Please also refer to the statement of unconsolidated, consolidated and segmental results required by Indian regulations that has, along with these slides, been filed with the stock exchanges in India where ICICI Bank's equity shares are listed and with the New York Stock Exchange and the US Securities Exchange Commission, and is available on our website www.icicibank.com.

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Overview

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Overview: Q1-2010

31% increase in profit before tax from Rs. 9.22 billion in Q1-2009 to Rs. 12.05 billion in Q1-2010 21% increase in profit after tax from Rs. 7.28 billion in Q1-2009 to Rs. 8.78 billion in Q1-2010 68% increase in consolidated profit after tax1 from Rs. 6.17 billion in Q1-2009 to Rs. 10.35 billion in Q12010

1. Unaudited

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Overview: Q1-2010

Net interest income for Q1-2010 at Rs. 19.85 billion compared to Rs. 20.90 billion for Q1-2009

Decrease in NII mainly due to decrease in advances by 11.6% Net interest margin maintained at the same level as Q1-2009 at 2.4% Net interest margin lower compared to 2.6% in Q42009 due to full impact of low margin agricultural loans and maintenance of higher level of liquidity

Fee income of Rs. 13.19 billion in Q1-2010; marginal decline from Q4-2009 level

Decrease in fee income from Rs. 19.58 billion in Q12009 due to slowdown in corporate activity and distribution of retail savings and investment products

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Overview: Q1-2010

Robust treasury income of Rs. 7.14 billion in Q12010 compared to a loss of Rs. 5.94 billion in Q12009 Continued reduction in operating expenses

20% y-o-y and 7% q-o-q decrease in operating & DMA expenses Cost/average asset ratio for Q1-2010 at 1.6% compared to 1.8% for Q4-2009 and 1.9% for Q12009

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Balance sheet highlights

CASA ratio of 30.4% at June 30, 2009 compared to 27.6% at June 30, 2008 and 28.7% at March 31, 2009 Increase of Rs. 34.23 bn in savings deposits during the quarter Total capital adequacy of 17.4% and Tier-1 capital adequacy of 13.1% as per RBI's Basel II framework Advances declined by 9% in Q1-2010 reflecting moderation in systemic credit offtake and the Bank's conscious strategy of risk containment Net NPA ratio of 2.19% at June 30, 2009 compared to 1.96% at March 31, 2009

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Unconsolidated financials

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Profit & loss statement

FY2009 NII Non-interest income - Fee income - Treasury income - Dividend income - Others Total income Operating expenses DMA expenses Lease depreciation Operating profit 83.67 76.03 65.24 4.43 3.35 3.01 159.70 63.06 5.29 2.10 89.25 Q1-2009 20.90 15.38 19.58 (5.94) 1.28 0.46 36.28 16.34 2.28 0.52 17.14

(Rs. in billion)

Q1-2010 19.85 20.90 13.19 7.14 0.53 0.04 40.75 14.67 0.27 0.52 25.29 Y-o-Y growth (5.0)% 35.9% (32.6)% (58.6)% (93.1)% 12.3% (10.2)% (88.2)% 47.5%

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Profit & loss statement

FY2009 Operating profit Provisions Profit before tax Tax Profit after tax 89.25 38.08 51.17 13.59 37.58 Q1-2009 17.14 7.92 9.22 1.94 7.28 Q1-2010

(Rs. in billion)

Y-o-Y growth 47.5% 67.2% 30.7% 68.6% 20.6%

25.29 13.24 12.05 3.27 8.78

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Balance sheet: Assets

Mar 31, 2009 Cash & bank balances Investments - SLR investments - Equity investment in subsidiaries Advances Fixed & other assets Total assets 299.66 1,030.58 633.87 120.97 2,183.11 279.66 3,793.01 June 30, 2008 355.51 1,080.05 720.07 87.54 2,241.46 264.54 3,941.56

(Rs. in billion)

June 30, 2009 305.28 1,142.471 704.86 120.97 1,981.02 245.42 3,674.19 Y-o-Y growth (14.1)% 5.8% (2.1)% 38.2% (11.6)% (7.2)% (6.8)%

1. Investment in security receipts of asset reconstruction companies at June 30, 2009 was Rs. 35.72 bn. Credit derivative exposure (including off balance sheet exposure) of Rs. 54.05 bn at June 30, 2009 (underlying comprises Indian corporate credits).

Including impact of exchange rate movement

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Composition of loan book: June 30, 2009

Overseas branches 26%

Personal loans 8% Other secured 2%

1 Credit STPL cards 0.3% 7%

Retail business group 49%

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Rural 8%

Vehicle loans 27%

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Home 55.7%

Domestic corporate 13%

1. 2. 3.

S ME 4%

Total loan book: Rs. 1,981 bn

Total retail

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