Icici Bank Limited · NSE:ICICIBANK
Icici Bank — Q4 FY2023 Earnings Presentation
77 slides from Icici Bank's earnings presentation, Apr 22, 2023
Slide 1: Cover letter to stock exchanges: Investor Presentation
April 22, 2023 BSE Limited National Stock Exchange of India Limited Listing Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, 5th floor Dalal Street Plot No. C/1, G Block Mumbai 400 001 Bandra-Kurla Complex Bandra(East Mumbai 400 051 Dear Sir/Madam, Sub: Investor Presentation P
Slide 2: Q4-2023: Performance review
Q4-2023: Performance review April 22, 2023
Slide 3: Forward-looking statements disclaimer
Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigat
Slide 4: Highlights for Q4-2023
Highlights for Q4-2023 3
Slide 5: Key highlights for Q4-2023 (1/2)
Key highlights for Q4-2023 (1/2) • Core operating profit grew by 36.4% y-o-y to ₹ 138.66 bn in Q4-2023 ; 28.1% y-o-y to ₹ 491.39 bn in FY2023 Earnings • Provisions of ₹ 16.19 bn in Q4-2023; FY2023: ₹ 66.66 bn • Contingency provision of ₹ 16.00 bn; FY2023: ₹ 56.50 bn • Core operating profit less prov
Slide 6: Key highlights for Q4-2023 (2/2)
Key highlights for Q4-2023 (2/2) • Net NPA ratio declined to 0.48% at Mar 31, 2023 from 0.55% at Dec 31, 2022 • Net additions of ₹ 0.14 bn to gross NPAs in Q4-2023 (Q3-2023: ₹ 11.19 bn) Asset • Provision coverage was 82.8% at Mar 31, 2023 (Dec 31, 2022: 82.0%) quality • Fund based o/s of ₹ 45.08 bn
Slide 7: Operating performance
Operating performance 6
Slide 8: Profit & loss statement
Profit & loss statement (₹ billion) FY2022 Q4- Q3- Q4- FY2023 Q4-o-Q4 2022 2023 2023 (%) Net interest income1 474.66 126.05 164.65 176.67 621.29 40.2% Non-interest income 176.14 46.08 49.87 51.27 198.83 11.3% - Fee income 156.87 43.66 44.48 48.30 180.01 10.6% - Dividend income from 18.29 2.32 5.16 2
Slide 9: Profit & loss statement
Profit & loss statement ₹ in billion FY2022 Q4- Q3- Q4- FY2023 Q4-o-Q4 2022 2023 2023 (%) Core operating profit 383.47 101.64 132.35 138.66 491.39 36.4% Net provisions 86.411 10.69 22.572 16.19 66.662 51.4% - Contingency provisions (0.25) 10.25 15.00 16.00 56.50 56.1% - Other provisions 86.66 0.44 7
Slide 10: Key ratios
Key ratios FY Q4- Q3- Q4- FY Percent 2022 2022 2023 2023 2023 Net interest margin1,2 3.96 4.00 4.65 4.90 4.48 Cost of deposits2 3.53 3.48 3.65 3.98 3.66 Cost-to-income 40.5 40.6 38.2 39.2 40.1 Core operating profit/average assets2 3.03 3.06 3.50 3.60 3.32 Provisions/core operating profit 22.53 10.5
Slide 11: Unconsolidated segment-wise PBT
Unconsolidated segment-wise PBT Profit before tax FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 (₹ billion) Retail 114.00 46.43 42.88 49.03 175.34 Wholesale 90.53 32.78 38.77 45.04 157.85 Treasury 98.20 23.24 42.58 42.35 142.72 Others 3.11 0.04 0.92 1.65 4.80 Unallocated1 0.25 (10.25) (15.00) (16.00) (56.50
Slide 12: Balance sheet growth
Balance sheet growth 11
Slide 13: Deposits
Deposits (₹ billion) Mar 31, Dec 31, Mar 31, Y-o-Y % share at 2022 2022 2023 growth Mar 31, 2023 CASA 5,184.37 5,088.42 5,412.62 4.4% 45.8% - Current 1,584.80 1,456.26 1,614.86 1.9% 13.7% - Savings 3,599.57 3,632.16 3,797.76 5.5% 32.1% Term 5,461.35 6,132.08 6,395.79 17.1% 54.2% Total deposits 10,64
Slide 14: Loan portfolio
Loan portfolio (₹ billion) Mar 31, Dec 31, Mar 31, Y-o-Y % share at 2022 2022 2023 growth Mar 31, 20234 Retail 4,546.35 5,292.36 5,578.17 22.7% 53.9% Rural loans 768.30 829.06 874.31 13.8% 8.4% Business banking 534.37 668.83 721.12 34.9% 7.0% SME1 404.50 454.24 482.21 19.2% 4.7% Domestic corporate a
Slide 15: Retail portfolio
Retail portfolio (₹ billion) Mar 31, Dec 31, Mar 31, Y-o-Y % share at 2022 2022 2023 growth Mar 31, 2023 Mortgages 2,930.63 3,313.79 3,446.96 17.6% 61.8% Vehicle loans 680.51 756.93 794.19 16.7% 14.2% - Auto finance 403.20 472.63 496.87 23.2% 8.9% - Commercial vehicle and 261.67 265.32 275.41 5.3% 4
Slide 16: Portfolio of overseas branches
Portfolio of overseas branches Total outstanding1 at Mar 31, 2023: USD 2.70 billion The overseas non-India linked corporate portfolio reduced by 52.3% year-on-year or about USD 336 million and 20.0% sequentially or about USD 76 million at Mar 31, 2023 1. Corporate fund and non-fund outstanding of ov
Slide 17: Growing digital platforms
Growing digital platforms 16
Slide 18: Robust digital platforms
Robust digital platforms Reliable, seamless and scalable platforms, delivering best in class customer experience Retail Internet 400+ • Services in iMobile Pay iMobile Pay Banking 400+ • Services in RIB 350+ • iPlay Videos 100+ • DIY Journeys 16+ Products integrated in VKYC e₹ Central Bank Digital C
Slide 19: iMobile Pay- Built for all, Built for scale
iMobile Pay- Built for all, Built for scale Savings Account . Pay to Contact Demat . Scan to Pay PAYMENT SERVICES BANKING SERVICES Personal Loan . Bill Payment 9 mn+ Credit Card . Activations from Recharges Non-ICICI Bank Home Loan . account holders1 FASTag Auto Loan . Bookings Two Wheeler Loan . At
Slide 20: InstaBIZ: Universal app for small business
InstaBIZ: Universal app for small business Key features Key metrics Customer 360 Michael Mishra 9966332888 m.mishra@abc Forex Transaction 43% y-o-y InstaOD limit set-up3 Merchant Tax & Compliance solutions Interoperable ~ 122,200 PA1 InstaOD Servicing New-to-Bank merchants acquired3,6 Transactions 2
Slide 21: Digital solutions for merchant ecosystem
Digital solutions for merchant ecosystem • Super merchant account: Zero balance, swipe based benefits • Enabling Eazypay QR onboarding with the linkage of any Bank’s account • Digital POS solutions through Eazypay (POS, UPI, Cards, etc.) • PG: Eazypay Pro , POS: Eazypay Platinum 2.0 • Merchant modul
Slide 22: API Connect - Embedded banking for MSMEs
API Connect - Embedded banking for MSMEs API One-to-one client ERP integration with ICICI Bank One To One integrations High transaction volume, full fledged ERP users Client ERP 62% Y-o-Y growth in Application Application hosted Bank Plugin installed on desktop on cloud throughput value2 Plug-n-Play
Slide 23: Digital Solutions for Merchandise Exporters
Digital Solutions for Merchandise Exporters Business Incorporation Export Settlement Export Trade & Regulatory Guidelines Finance of proceeds Incentive Analytics Partner Discovery & Smart Order Insta EPC eDOCS / eBRC TradeOneView Logistics & Cargo Tracking Reduces transaction cycle time from days to
Slide 24: Supply chain solutions
Supply chain solutions Supply Chain Finance Receivables & payables Structured Trade Finance solutions powered by Dealer Financing | Vendor financing digital platforms Factoring | Reverse factoring Payable financing | Purchase bill financing Digital sanction Multiple Multiple modes of Supply chain Mu
Slide 25: Start-up Ecosystem Banking
Start-up Ecosystem Banking New • Accounts: Foreign Currency Account in USD GIFT City STACK • Deposits in foreign currencies (USD, GBP and EUR) Comprehensive set of banking solutions • Foreign Currency Escrow Account • Dividend Account for Startups and Funds from GIFT City • Corporate Internet Bankin
Slide 26: Capital Market and Custody Services
New Capital Market and Custody Services Digital on-boarding and Digital collection and pre-verification of payment solutions FPI/FDI clients Digital account opening Value added services for PMS clients for AIFs ‘3-in-1’ account facility for stock brokers and Self-service portal clients Quick on-boar
Slide 27: Digital sourcing for retail products in FY2023
Digital sourcing for retail products in FY2023 Personal loan Credit cards (by volume) SIPs initiated (by volume) disbursements (by volume) Mortgages Fixed deposits (Number of sanctions) (by volume) 26
Slide 28: Digital payments: credit and debit cards
Digital payments: credit and debit cards Credit card spends Debit card spends 1 Credit card Issued 4.0 mn+ partnerships Amazon Pay cards 1. Excluding proprietory cards 27
Slide 29: Digital payments
Digital payments UPI: P2M1 transactions Electronic toll collections Volume: 66.9% y-o-y Value: 112.3% y-o-y 18.1% y-o-y Market share by value was 19.3% in Mar Market share by value was 30% in 2023 New Q4-2023 Introduced easy EMI facility for UPI payments 1. Payments to merchants 28
Slide 30: Asset quality trends
Asset quality trends 29
Slide 31: NPA trends
NPA trends (₹ billion) Mar 31, Dec 31, Mar 31, 2022 2022 2023 Gross NPAs1 339.20 325.28 311.84 Less: cumulative provisions 269.59 268.77 260.29 Net NPAs1 69.61 56.51 51.55 Gross NPA ratio1 3.60% 3.07% 2.81% Net NPA ratio1 0.76% 0.55% 0.48% Provision coverage ratio 79.2% 82.0% 82.8% Non-fund o/s to N
Slide 32: NPA movement
NPA movement1 ₹ in billion FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 Opening gross NPA 413.73 370.53 325.71 325.28 339.20 Add: gross additions (1) 192.91 42.04 57.23 42.97 186.41 - Retail, rural and business banking 173.57 37.36 41.592 40.20 154.902 - Corporate and SME 19.34 4.68 15.64 2.77 31.51 Less:
Slide 33: Resolution under RBI frameworks
Resolution under RBI frameworks (₹ billion) 31-Mar-22 31-Dec-22 31-Mar-23 Retail, rural and business banking1 60.43 41.90 38.33 Corporate and SME1 22.24 7.97 6.75 Total fund based o/s1 82.67 49.87 45.08 Total fund based o/s as % of total advances 1.0% 0.5% 0.4% Provisions held on loans under resolut
Slide 34: Standard asset and other provisions
Standard asset and other provisions (₹ billion) Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, 2022 2022 2022 2022 2023 Contingency provisions1 74.50 85.00 100.00 115.00 131.00 Provision on non-fund based o/s to 20.51 20.75 20.24 19.93 20.05 NPAs Provisions on fund based o/s to 25.30 22.90 20.59 15.29 13.8
Slide 35: Loan portfolio information
Loan portfolio information 34
Slide 36: Diversified and granular loan book
Diversified and granular loan book Breakup of loan portfolio1 at Mar 31, 2023 3.3% 53.9% of total loans are retail3 • Mortgages • Auto finance • Commercial vehicle and equipment 22.7% • Two wheeler loans • Personal loans • Credit cards 2 • Other retail loans Rural loans Business banking 8.4% SME Cor
Slide 37: Rating-wise loan book, excluding retail and rural portfolio
Rating-wise loan book, excluding retail and rural portfolio Mar 31, Mar 31, Mar 31, Sep 30, Dec 31, Mar 31, Rating category1 2020 2021 2022 2022 2022 2023 AA- and above 27.3% 35.3% 36.1% 46.3% 45.3% 46.9% A+, A, A- 36.9% 33.7% 35.7% 26.8% 27.8% 26.6% A- and above 64.2% 69.1% 71.8% 73.1% 73.1% 73.5%
Slide 38: Corporate and SME: BB and below
Corporate and SME: BB and below (₹ billion) Mar 31, Dec 31, Mar 31, 2022 2022 2023 BB and below outstanding1 108.08 55.81 47.04 - Fund and non-fund o/s to borrowers with loans 23.89 8.79 7.74 under resolution - Other borrowers with o/s greater than ₹ 1.00 bn2 58.81 26.06 18.01 - Other borrowers with
Slide 39: Movement in Corporate & SME BB and below: Q4-2023
Movement in Corporate & SME BB and below: Q4-2023 (₹ billion) 55.81 (1.52} (12.58} 3.64 • 1.69 47.04 1,2 1,2 At Dec 31, 2022 Slipped to NPA Upgrades to Downgrades to 88 Upgrade from NPA At Mar 31, 2023 investment grade & and below net reduction in o/s 1. Fund-based and non-fund based outstanding 2.
Slide 40: Mortgage portfolio
Mortgage portfolio Mortgage portfolio includes home loans ~71%, top-up loans given to existing home loan customers 6%, office premises loans ~5% and loan against property ~17% Home loans are geographically well diversified, built on fundamental premises of cashflow assessment of underlying borrower
Slide 41: Auto and two wheeler finance
Auto and two wheeler finance Auto loan portfolio comprises 85% new vehicles and 15% used vehicles Instant car loan disbursement, a industry first proposition, for pre-approved customers; delivery order is generated digitally in a seamless manner. The product won the ‘Best Automobile/Car Loan Product
Slide 42: Rural and personal loan and credit card portfolio
Rural and personal loan and credit card portfolio Rural loans Personal loans and credit cards Gold loans comprise ~2% and kisan credit cards Personal loan disbursements comprise ~2% of the total loan book increased sequentially in Q4-2023 Growt h in retail credit card spends Leverage opportunities f
Slide 43: SME and business banking portfolio
SME and business banking portfolio Growth driven by leveraging branch network and digital platforms such as InstaBIZ, Merchant STACK and Trade Online and efforts towards process decongestion such as e- signing of disbursement documents through EazySign Focus on parameterised and programme based lend
Slide 44: Exposure to power sector
Exposure to power sector (₹ billion) Mar 31, Dec 31, Mar 31, Share at Mar 2022 2022 2023 31, 2023 (%) Borrowers classified as NPA or part of BB 73.24 50.98 45.03 9.4% and below portfolio1 Other borrowers 327.47 387.58 432.19 90.6% Total 400.71 438.56 477.22 100.0% • Of the other borrowers aggregatin
Slide 45: NBFCs, HFCs and builder portfolio
NBFCs, HFCs and builder portfolio Mar 31, Dec 31, Mar 31, Outstanding (₹ billion) 2022 2022 2023 NBFCs1 601.44 660.45 725.93 HFCs1 84.88 104.95 108.97 Builder portfolio (construction finance, lease rental 269.48 360.11 398.87 discounting, term loans and working capital) • Proportion of the NBFC and
Slide 46: Concentration risk ratios
Concentration risk ratios Mar 31, Mar 31, Mar 31, Sep 30, Dec 31, Mar 31, Advances 2020 2021 2022 2022 2022 2023 Exposure to top 20 borrowers1 as a % of total 11.0% 12.1% 9.6% 8.7% 8.8% 8.5% exposure Exposure to top 10 groups 12.1% 11.6% 10.3% 10.1% 10.0% 10.1% as a % of total exposure • All top 20
Slide 47: Capital
Capital 46
Slide 48: Strong capital position
Strong capital position Dec 31, 20221 Mar 31, 20232 (₹ billion) % (₹ billion) % Total capital 1,693.57 16.26 1,962.82 18.34 - Tier I 1,615.27 15.51 1,884.17 17.60 - of which: CET1 1,564.05 15.02 1,832.77 17.12 - Tier II 78.30 0.75 78.65 0.74 Risk weighted assets 10,413.78 10,705.15 - On balance shee
Slide 49: Group companies
Group companies 48
Slide 50: Profit after tax of key subsidiaries and associates
Profit after tax of key subsidiaries and associates Profit after tax (₹ billion) Q4- Q3- Q4- FY2022 FY2023 2022 2023 2023 ICICI Prudential Life Insurance 7.54 1.85 2.21 2.35 8.11 ICICI Lombard General Insurance 12.71 3.13 3.53 4.37 17.29 ICICI Prudential Asset Management1 14.54 3.57 4.20 3.85 15.16
Slide 51: Insurance entities
Insurance entities ICICI Prudential Life Insurance • Value of new business (VNB) increased by 27.8% y-o-y to ₹ 27.65 billion in FY2023 • VNB margin increased to 32% in FY2023 from 28.0% in FY2022 • Annualised premium equivalent (APE) grew by 11.7% y-o-y to ₹ 86.40 billion in FY2023 • New business su
Slide 52: ICICI Securities and ICICI AMC
ICICI Securities and ICICI AMC ICICI Securities1 • Retail equity market share increased from 10.0% in Q4-2022 to 11.0% in Q4-2023 • Retail derivative market share increased from 3.3% in Q4-2022 to 3.6% in Q4-2023 • Market share in commodity trading segment increased from 4.1% in Q4-2022 to 6.1% in Q
Slide 53: Environmental, Social and Governance (ESG) initiatives
Environmental, Social and Governance (ESG) initiatives 52
Slide 54: Update on ESG (1/2)
Update on ESG (1/2) Progress on various ESG initiatives during FY2023 Strengthened governance through oversight of Board Risk Committee Policies and Frameworks • The Board approved Environmental, Social and Governance Policy disclosed on the Bank’s website • Framework for Sustainable Financing estab
Slide 55: Update on ESG (2/2)
Update on ESG (2/2) Social initiatives • Lending to rural women and promoting entrepreneurship; credit provided to 10.0 million women through over 7.85 lakh SHG loans as on March 31, 2023 CSR Initiatives • Impacted 10.9 mn+ individuals in 250+ districts and 37 aspirational districts across all state
Slide 56: Thank you
PICICI Bank Thank you
Slide 57: Additional financial information
Additional financial information 56
Slide 58: Yield, cost and margin
Yield, cost and margin Movement in yield, costs & FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 margins (Percent)1 Yield on total interest-earning 7.21 7.19 8.07 8.60 7.87 assets2 - Yield on advances 8.27 8.31 9.13 9.75 8.94 Cost of funds 3.71 3.68 3.95 4.29 3.93 - Cost of deposits 3.53 3.48 3.65 3.98 3.66
Slide 59: Consolidated profit & loss statement
Consolidated profit & loss statement (₹ billion) Q4-o-Q4 FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 growth Net interest income 542.40 143.66 186.41 199.59 705.23 38.9% Non-interest income 621.29 178.34 162.41 194.84 651.12 9.3% - Fee income 203.35 55.30 57.09 60.69 228.72 9.7% - Premium income 389.60 119
Slide 60: Consolidated profit & loss statement
Consolidated profit & loss statement (₹ billion) Q4- Q3- Q4- Q4-o-Q4 FY2022 FY2023 2022 2023 2023 growth Operating profit 432.17 115.28 143.70 152.06 531.96 31.9% Contingency provisions (0.25) 10.25 15.00 16.00 56.50 56.1% Other provisions 90.02 0.79 9.34 1.22 12.90 54.4% Profit before tax 342.40 10
Slide 61: Key ratios (consolidated)
Key ratios (consolidated) Percent FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 Return on equity1 14.8 17.5 17.5 19.1 17.3 Weighted average EPS1 (₹) 36.2 45.1 50.0 57.3 48.9 Book value (₹) 262 262 293 307 307 slide 9 1. Annualised for all interim periods 60
Slide 62: Balance sheet: liabilities
Balance sheet: liabilities (₹ billion) Mar 31, 2022 Dec 31, 2022 Mar 31, 2023 Net worth 1,705.12 1,912.69 2,007.16 - Equity capital 13.90 13.96 13.97 - Reserves 1,691.22 1,898.73 1,993.19 Deposits 10,645.72 11,220.49 11,808.41 - Current 1,584.80 1,456.26 1,614.86 - Savings 3,599.57 3,632.16 3,797.76
Slide 63: Composition of borrowings
Composition of borrowings (₹ billion) Mar 31, 2022 Dec 31, 2022 Mar 31, 2023 Domestic 753.10 999.65 935.11 - Capital instruments 138.51 82.60 82.81 - Other borrowings 614.59 917.05 852.30 - Long term infrastructure bonds 387.84 459.04 459.04 - Refinance 182.26 292.77 355.95 Overseas borrowings1 319.
Slide 64: Consolidated balance sheet
Consolidated balance sheet (₹ billion) Mar 31, 2022 Dec 31, 2022 Mar 31, 2023 Cash & bank balances 1,831.26 1,398.80 1,364.56 Investments 5,670.98 6,125.58 6,395.52 Advances 9,203.08 10,380.91 10,838.66 Fixed & other assets 821.05 966.80 986.16 Total assets 17,526.37 18,872.09 19,584.90 Net worth 1,
Slide 65: Branch and ATM network
Branch and ATM network Branches % share at Mar 31, Mar 31, Mar 31, Sep 30, Dec 31, Mar 31, Mar 31, 2020 2021 2022 2022 2022 2023 2023 Metro 1,585 1,542 1,567 1,610 1,645 1,709 29.0% Urban 1,067 1,063 1,074 1,101 1,125 1,160 19.7% Semi urban 1,546 1,537 1,599 1,652 1,676 1,712 29.0% Rural 1,126 1,124
Slide 66: Balance sheet: assets
Balance sheet: assets (₹ billion) Mar 31, Dec 31, Mar 31, 2022 2022 2023 Cash & bank balances 1,678.22 1,224.71 1,194.38 Investments 3,102.41 3,370.51 3,623.30 - SLR investments 2,563.78 2,867.42 3,057.69 - Equity investment in subsidiaries1 67.13 69.78 69.78 Advances 8,590.20 9,740.47 10,196.38 Fix
Slide 67: Equity investment in subsidiaries
Equity investment in subsidiaries (₹ billion) Mar 31, Dec 31, Mar 31, 2022 2022 2023 ICICI Prudential Life Insurance 32.75 32.75 32.75 ICICI Bank Canada 9.96 9.96 9.96 ICICI Bank UK 9.70 9.70 9.70 ICICI Home Finance 11.12 13.62 13.62 ICICI Securities Limited 1.22 1.22 1.22 ICICI Securities Primary D
Slide 68: Portfolio composition
Portfolio composition Mar 31, 2022 Dec 31, 2022 Mar 31, 2023 Domestic 91.2% 92.8% 93.2% International 8.8% 7.2% 6.8% Total consolidated advances 9,203 10,381 10,839 (₹ billion) slide 13 67
Slide 69: Retail, rural and business banking NPAs
Retail, rural and business banking NPAs Mar 31, Dec 31, Mar 31, ₹ in billion 2022 2022 2023 Gross retail, rural and business banking NPAs 128.32 122.45 121.13 - as a % of gross advances 2.17% 1.78% 1.67% Net retail, rural and business banking NPAs 53.05 43.51 42.04 - as a % of net advances 0.91% 0.6
Slide 70: Sector-wise exposures
Sector-wise exposures Top 10 sectors1: % of total Mar 31, Mar 31, Mar 31, Sep 30, Dec 31, Mar 31, exposure of the Bank 2020 2021 2022 2022 2022 2023 Retail finance2 32.2% 33.9% 36.3% 37.5% 37.8% 38.3% Services – finance 8.4% 9.9% 8.9% 8.4% 8.9% 8.7% Banks 6.4% 7.9% 7.9% 7.6% 6.6% 6.0% Rural 4.9% 6.3
Slide 71: Consolidated capital adequacy
Consolidated capital adequacy Basel III (%) Dec 31, Mar 31, 20221 20232 Total capital 16.02% 18.09% - Tier I 15.25% 17.33% - of which: CET 1 14.80% 16.88% - Tier II 0.76% 0.76% • Including profits for 9M-2023, CET 1 ratio was 16.77%, Tier I ratio was 17.23% and total capital adequacy ratio was 17.99
Slide 72: Insurance entities
Insurance entities ICICI Life (₹ billion) FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 Annualised premium equivalent 77.33 26.08 18.21 33.00 86.40 - Of which: protection 13.13 4.57 3.40 4.54 15.04 Assets under management 2,404.92 2,404.92 2,518.84 2,511.91 2,511.91 Expense ratio1 18.6% 20.6% 19.5% 22.9% 21
Slide 73: ICICI Bank UK
ICICI Bank UK (USD million) FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 Net interest income 40.5 10.0 13.8 16.0 52.6 Operating profit 14.4 4.3 7.9 9.9 21.7 Loans and advances 1,244.3 1,244.3 1,021.9 997.2 997.2 Deposits 1,542.0 1,542.0 1,529.8 1,617.4 1,617.4 - Retail term deposits 240.0 240.0 494.9 650.2
Slide 74: ICICI Bank UK asset and liability profile
ICICI Bank UK1 Asset profile Liability profile 2 Total assets: USD 2.14 bn Total liabilities: USD 2.14 bn 1. At Mar 31, 2023 2. Includes cash & advances to banks and T Bills 73
Slide 75: ICICI Bank Canada
ICICI Bank Canada (CAD million) FY2022 Q4-2022 Q3-2023 Q4-2023 FY2023 Net interest income 44.0 11.5 25.0 26.8 84.2 Operating profit 34.1 8.0 19.3 20.7 65.6 Loans and advances 4,984.1 4,984.1 5,153.0 5,182.1 5,182.1 - Residential mortgages 3,692.5 3,692.5 3,752.9 3,741.5 3,741.5 Deposits 2,851.7 2,85
Slide 76: ICICI Bank Canada asset and liability profile
ICICI Bank Canada1 Asset profile Liability profile 2 4 3 Total assets: CAD 5.98 bn Total liabilities: CAD 5.98 bn 1. At Mar 31, 2023 2. Includes cash & placements with banks and government securities 3. Insured mortgages include CAD 2,336.1 million of securitised mortgages at Mar 31, 2023 (Dec 31, 2
Slide 77: ICICI Home Finance
ICICI Home Finance1 (₹ billion) Dec 31, 2022 Mar 31, 2023 Loans and advances 164.68 175.44 Gross impaired loans (stage 3)2 7.61 5.61 Net impaired loans (stage 3) 4.51 3.56 Capital adequacy ratio 24.14% 23.47% • At March 31, 2023, loans to borrowers where resolution was implemented as per the framewo