India’s second largest private lender ICICI Bank is promoting a strong compliance culture to ensure balance between risk and rewards, its managing director and CEO Sandeep Bakhshi has said in his annual address to shareholders. The comments by Bakhshi which are part of the annual report also highlight that the private lender is focussing on strengthening its digital capabilities and focus on operational resilience.
“The Bank is committed to fostering a strong risk and compliance culture to ensure a balance of risk and rewards for delivering long-term sustainable outcomes,” Bakhshi said. “We are making continuous efforts to strengthen our service digital capabilities and enhance our delivery systems underpinned by a focus on operational resilience.”
The bank chief added that he sees exciting opportunities arising from the Indian economy and its global linkages and the lender is committed to supporting this transformative journey.
Bakhshi added that the lender is driven by the principles of ‘One Bank, One Team’ along with ‘Fair to Customer, Fair to Bank’ and ‘Return of Capital’.
“Our focus will be growing in a prudent and responsible manner,” he said. We remain committed to high standards of governance, and becoming a trusted financial partner for our customers while creating value for all stakeholders.”
In fiscal 2024, the bank focussed on deepening its presence and harnessing business opportunities across ecosystems.
“We have further empowered our frontline teams with enablers for enhancing customer engagement and providing seamless services,” Rakesh Jha, executive director of the bank said in the annual report. “We continued to enhance our services and solutions such as onboarding new products on our iLens platform, enriching the export-import journey on Trade Online and technology integrations with customers to serve supply chain ecosystems.”
The lender is also focusing on enhancing its delivery systems and simplifying processes for better outcomes.
“We have laid strong emphasis on continuously strengthening our operational resilience for seamless delivery of services to customers,” said Ajay Kumar Gupta, executive director of the bank. “As we continue to grow our business, we remain invested towards strengthening our delivery systems and technology platforms to sustain scalability, security and resilience.”
Gupta also added that the lender continues to review its credit policies and credit delivery for offering right product propositions to its customers. The bank is also leveraging data analytics, public digital infrastructure and digital capabilities, to provide customers best-in-class banking experience.
