Icici Bank Limited · NSE:ICICIBANK
Icici Bank — Q4 2015 Earnings Presentation
37 slides from Icici Bank's earnings presentation, Apr 27, 2015
Slide 1: Q4-2015: Performance review
Q4-2015: Performance review April 27, 2015
Slide 2: Forward-looking statements
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. Mo
Slide 3: FY2015: Performance highlights
FY2015: Performance highlights Profitability 13.9% increase in standalone profit after tax from ` 98.10 bn in FY2014 (April 2013-March 2014) to ` 111.75 bn in FY2015 (April 2014-March 2015) Net interest income increased by 15.6% year-on-year; net interest margin improved by 15 basis points from
Slide 4: Q4-2015: Performance highlights
Q4-2015: Performance highlights Profitability 10.2% increase in standalone profit after tax from ` 26.52 bn in Q4-2014 (January-March 2014) to ` 29.22 bn in Q4-2015 (January-March 2015) Net interest income increased by 16.6% year-on- year; net interest margin improved from 3.35% in Q4-2014 to 3.
Slide 5: Q4-2015: Performance highlights
Q4-2015: Performance highlights Balance sheet Advances increased by 14.4% year-on-year to ` 3,875.22 billion at March 31, 2015 Retail advances growth at 24.6% year-on-year at March 31, 2015 Domestic corporate loan growth at 9.6% Period end CASA ratio at 45.5% at March 31, 2015 compared to 42
Slide 6: Standalone results
Standalone results 14 ICICI Bank
Slide 7: Profit & loss statement
Profit & loss statement ` billion FY Q4- Q3- Q4- FY Q4-o-Q4 2014 2014 2015 2015 2015 growth NII 164.75 43.57 48.12 50.79 190.40 16.6% Non-interest income1 104.28 29.76 30.91 34.96 121.76 17.5% - Fee income 77.58 19.74 21.10 21.37 82.87 8.3% - Other income 16.53 7.57 5.38 6.33 21.96 -16.4% - Treasury
Slide 8: Profit & loss statement
Profit & loss statement ` billion FY Q4- Q3- Q4- FY Q4-o-Q4 2014 2014 2015 2015 2015 growth Operating profit 165.94 44.54 50.37 54.68 197.20 22.8% Provisions 26.26 7.14 9.80 13.44 39.00 88.2% Profit before tax 139.68 37.40 40.57 41.24 158.20 10.3% Tax 41.58 10.88 11.68 12.02 46.45 10.5% Profit after
Slide 9: Key ratios
Key ratios Movement in yield, costs & FY Q4- Q3- Q4- FY margins (Percent) 2014 2014 2015 2015 2015 Yield on total interest earning assets1 8.92 8.96 8.94 9.08 8.96 Cost of funds1 6.21 6.20 6.17 6.16 6.17 Net interest margin1 3.33 3.35 3.46 3.57 3.48 FY Q4- Q3- Q4- FY Percent 2014 2014 2015 2015 2015
Slide 10: Balance sheet: Assets
Balance sheet: Assets ` billion March 31, December March 31, Y-o-Y 2014 31, 2014 2015 growth Cash & bank balances 415.30 333.91 423.05 1.9% Investments 1,770.22 1,763.79 1,865.80 5.4% - SLR investments 951.65 1,025.10 1,056.02 11.0% - Equity investment in subsidiaries 120.23 120.23 110.89 (7.8)% - R
Slide 11: Composition of loan book (y-o-y)
Composition of loan book (y-o-y) March 31, 2014 March 31, 2015 1 1 2 2 Total loan book: ` 3,387 bn Total loan book: ` 3,875 bn 1. Including impact of exchange rate movement 2. Domestic corporate loans include builder finance 11
Slide 12: Composition of retail loan book (y-o-y)
Composition of retail loan book (y-o-y) March 31, 2014 March 31, 2015 1 2 Total retail loan book: ` 1,320 bn Total retail loan book: ` 1,644 bn • Total retail advances growth of 24.6% y-o-y at March 31, 2015 1. March 31, 2014: Vehicle loans include auto loans 11.5%, commercial business 9.4% 2. March
Slide 13: Composition of loan book (q-o-q)
Composition of loan book (q-o-q) December 31, 2014 March 31, 2015 1 1 2 2 Total loan book: ` 3,753 bn Total loan book: ` 3,875 bn 1. Including impact of exchange rate movement 2. Domestic corporate loans include builder finance 13
Slide 14: Composition of retail loan book (q-o-q)
Composition of retail loan book (q-o-q) December 31, 2014 March 31, 2015 1 2 Total retail loan book: ` 1,535 bn Total retail loan book: ` 1,644 bn 1. December 31, 2014: Vehicle loans include auto loans 11.6%, commercial business 7.1% 2. March 31, 2015: Vehicle loans include auto loans 11.4%, commerc
Slide 15: Equity investment in subsidiaries
Equity investment in subsidiaries ` billion March 31, December March 31, 2014 31, 2014 2015 ICICI Prudential Life Insurance 35.93 35.93 35.93 ICICI Bank Canada 30.51 30.51 27.32 ICICI Bank UK 21.20 21.20 18.05 ICICI Lombard General Insurance 14.22 14.22 14.22 ICICI Home Finance 11.12 11.12 11.12 ICI
Slide 16: Balance sheet: Liabilities
Balance sheet: Liabilities March 31, December March 31, Y-o-Y ` billion 2014 31, 2014 2015 growth Net worth 732.14 818.21 804.29 9.9% - Equity capital 11.55 11.59 11.60 0.4% - Reserves1 720.59 806.62 792.70 10.0% Deposits 3,319.14 3,553.40 3,615.63 8.9% - Savings 991.33 1,105.33 1,148.60 15.9% - Cur
Slide 17: Composition of borrowings
Composition of borrowings ` billion March 31, December March 31, 2014 31, 2014 2015 Domestic 718.39 649.42 843.95 - Capital instruments1 385.01 388.10 387.66 - Other borrowings 333.38 261.32 456.29 - Long term infrastructure bonds - 45.89 68.50 Overseas2 829.20 880.52 880.22 - Capital instruments 20
Slide 18: Capital adequacy
Capital adequacy March 31, 2014 March 31, 20151 Standalone Basel III ` bn % ` bn % Total Capital 882.51 17.70% 927.44 17.02% - Tier I 637.38 12.78% 696.61 12.78% - Tier II 245.13 4.92% 230.83 4.24% Risk weighted assets 4,986.03 5,448.96 - On balance sheet 3,930.53 4,385.65 - Off balance sheet 1,055.
Slide 19: Asset quality and provisioning
Asset quality and provisioning March 31, December March 31, ` billion 2014 31, 2014 2015 Gross NPAs 105.54 132.31 152.42 Less: Cumulative provisions 72.53 84.00 89.17 Net NPAs 33.01 48.31 63.25 Net NPA ratio 0.82% 1.12% 1.40% Gross retail NPLs at ` 33.78 bn and net retail NPLs at ` 9.86 bn at Marc
Slide 20: Movement of NPA
Movement of NPA Q4- Q3- Q4- ` billion FY2014 FY2015 2014 2015 2015 Opening gross NPA 104.48 96.47 116.95 132.31 105.54 Add: Gross additions 12.41 45.40 22.79 32.60 80.78 - of which: slippages from restructured assets 0.13 7.27 7.76 22.46 45.29 Less: Gross deletions 4.16 12.58 5.07 6.54 16.36 Net add
Slide 21: Distribution network
Distribution network At At At At % share Branches March March March March at March 31, 2012 31, 2013 31, 2014 31, 2015 31, 2015 Metro 816 865 935 1,012 25.0% Urban 720 782 865 932 23.0% Semi urban 904 989 1,114 1,218 30.1% Rural 312 464 839 888 21.9% Total branches 2,752 3,100 3,753 4,050 100.0% ATM
Slide 22: Consolidated results
Consolidated results 14 ICICI Bank
Slide 23: Consolidated profit & loss statement
Consolidated profit & loss statement ` billion FY Q4- Q3- Q4- FY Q4-o-Q4 2014 2014 2015 2015 2015 growth NII 197.69 52.38 57.06 60.37 226.46 15.3% Non-interest income 300.85 88.07 91.45 106.36 352.52 20.8% - Fee income 87.75 22.29 24.87 25.05 97.01 12.4% - Premium income 193.32 59.77 56.27 69.71 220
Slide 24: Consolidated profit & loss statement
Consolidated profit & loss statement ` billion FY Q4- Q3- Q4- FY Q4-o-Q4 2014 2014 2015 2015 2015 growth Operating profit 191.87 48.69 60.68 62.00 228.75 27.3% Provisions 29.00 8.12 12.35 15.71 45.36 93.5% Profit before tax 162.87 40.57 48.33 46.29 183.39 14.1% Tax 46.10 11.84 13.66 13.77 53.97 16.3
Slide 25: Consolidated balance sheet
Consolidated balance sheet March 31, December March Y-o-Y ` billion 2014 31, 2014 31, 2015 growth Cash & bank balances 482.58 404.81 476.37 (1.3)% Investments 2,676.09 2,865.19 3,027.62 13.1% Advances 3,873.42 4,270.84 4,384.90 13.2% Fixed & other assets 445.53 390.07 371.90 (16.5)% Total assets 7,4
Slide 26: Key ratios (consolidated)
Key ratios (consolidated) FY Q4- Q3- Q4- FY Percent 2014 2014 2015 2015 2015 Return on average networth1,2 14.9 14.2 15.5 14.5 15.0 Weighted average EPS (`)2,3 19.1 19.1 22.4 21.6 21.2 Book value (`)3 132 132 148 146 146 1. Based on quarterly average networth 2. Annualised for all interim periods 3.
Slide 27: Overseas subsidiaries
Overseas subsidiaries 14 ICICI Bank
Slide 28: ICICI Bank UK asset profile
ICICI Bank UK asset profile December 31, 2014 March 31, 2015 1 1 1 2 2 2 Total assets: USD 4.2 bn Total assets: USD 4.1 bn 1. Includes cash & advances to banks, T Bills 2. Includes securities re-classified to loans & advances 28
Slide 29: ICICI Bank UK liability profile
ICICI Bank UK liability profile December 31, 2014 March 31, 2015 Total liabilities: USD 4.2 bn Total liabilities: USD 4.1 bn Profit after tax of USD 18.3 mn in FY2015 compared to USD 25.2 mn in FY2014 Capital adequacy ratio at 19.2% Proportion of retail term deposits in total deposits at 44% a
Slide 30: ICICI Bank Canada asset profile
ICICI Bank Canada asset profile December 31, 2014 March 31, 2015 1 1 2 2 Total assets: CAD 5.6 bn Total assets: CAD 5.9 bn 1. Includes cash & advances to banks and government securities 2. Based on IFRS, securitised portfolio of CAD 2,316 mn and CAD 2,567 mn considered as part of Insured mortgage po
Slide 31: ICICI Bank Canada liability profile
ICICI Bank Canada liability profile December 31, 2014 March 31, 2015 1 1 Total liabilities: CAD 5.6 bn Total liabilities: CAD 5.9 bn Profit after tax of CAD 33.7 mn in FY2015 compared to CAD 48.3 mn in FY2014 Capital adequacy ratio at 28.5% 1. As per IFRS, proceeds of CAD 2,331 mn and CAD 2,575
Slide 32: Domestic subsidiaries
Domestic subsidiaries 14 ICICI Bank
Slide 33: ICICI Home Finance
ICICI Home Finance December 31, 2014 March 31, 2015 Total assets: ` 80.80 bn Total assets: ` 82.99 bn Profit after tax of ` 1.98 bn in FY2015 compared to ` 2.23 bn in FY2014 Capital adequacy ratio of 27.0% at March 31, 2015 Net NPA ratio: 0.7% At March 31, 2015: Net worth ` 14.92 bn; Deposit
Slide 34: ICICI Life
ICICI Life ` billion FY2014 FY2015 New business premium 37.60 53.32 Renewal premium 86.69 99.75 Total premium 124.29 153.07 Annualised premium equivalent (APE) 34.44 47.44 New Business Profit (NBP)1 4.27 5.32 NBP margin1 12.4% 11.2% Statutory profit 15.67 16.34 Assets Under Management 805.97 1,001.8
Slide 35: ICICI General
ICICI General ` billion FY2014 FY2015 Gross premium1 71.34 69.14 Profit before tax 5.20 6.91 PAT 5.11 5.36 1. Excluding remittances from motor declined pool and including premium on reinsurance accepted 35
Slide 36: Other subsidiaries
Other subsidiaries Profit after tax (` billion) FY2014 FY2015 ICICI Prudential Asset Management 1.83 2.47 ICICI Securities Primary Dealership 1.32 2.17 ICICI Securities (Consolidated) 0.91 2.94 ICICI Venture 0.33 0.01 ICICI AMC: 35.0% year-on-year increase in profit after tax to ` 2.47 billion in
Slide 37: Thank you
Thank you 0a ICICI Bank