Risk and Compliance Culture
Risk and Compliance Culture Policy
ICICI Bank has in place a robust risk and compliance culture, supported by a policy that fosters continual trust and engagement with all stakeholders. The Bank prioritises stakeholder trust as a cornerstone for driving its strategic goals. The Bank remains focussed on nurturing a positive work culture that promotes fair and transparent business dealings and encourages the adoption of values and a code of conduct among employees.
The Bank strives to ensure that all its business activities serve the Bank's interest while also benefitting customers. It is the Bank’s ongoing commitment to adopt principles and processes designed to achieve this goal. The Bank disseminates information on the organisation’s culture on an ongoing basis.
In fiscal 2022, the Bank introduced a Risk and Compliance Culture Policy that lays down the guiding principles for enhancing the risk and compliance culture. The policy recognises the importance of robust frameworks. It also facilitates processes that align the employees with the Bank’s overall philosophy, both in principle and in action.
The Bank ensures effective implementation of the policy across its business operations through a well-structured governance framework. The framework establishes the roles and responsibilities of the Board, MD and CEO, Executive Directors, and the Risk and Compliance Culture Council. The Council is entrusted with the task of reviewing the progress of policy implementation on a periodic basis. It updates the Board annually.
The Bank encourages employee alignment with the risk and compliance guiding principles. It expects employees to follow the highest professional and ethical standards in all their actions. The Bank has strong systems in place to communicate its guiding principles and standards to its employees on a continuous basis. The Bank continuously endeavours to strengthen its culture, and all employees are encouraged to align with these guiding principles in their activities.
(Best viewed on desktop)
Fair to Customer, Fair to Bank
The principle of ‘Fair to Customer, Fair to Bank’ emphasises the need to deliver fair value to customers while creating value for shareholders, which would guide the Bank’s operations. The Bank seeks to sell products and offer services that meet societal needs and are in the interest of our customers. The Bank has undertaken initiatives that embody this ethos of ‘Fair to Customer, Fair to Bank’ and enhance customer trust in the Bank. In line with this philosophy, the Bank over the years has taken various initiatives such as waiving prepayment or foreclosure charges on certain retail products and refraining from selling third-party products that may have adverse outcomes for customers. In fiscal 2025, the Bank continued its efforts on making customer journeys frictionless and delivering customer delight by placing the customer at the centre of every design and process reimagination. We are harnessing new-age technologies and platforms to deliver simple, effective experiences for our customers.
Truth, Trust and Transparency are at the core of our customer service philosophy.
One Bank, One Team
The principle of 'One Bank, One Team' underscores the Bank's endeavour to harness business opportunities across ecosystems and micromarkets in a unified manner and maximise Bank’s share in target opportunity. The Bank has realigned its organisation structure to better support its Customer 360° strategy. Employees are equipped with requisite knowledge and skills to serve customers in line with ‘One Bank, One Team’ and provide comprehensive financial solutions to customers.
Return of Capital is Paramount
The Bank is focussed on the principles of ‘Return of Capital’ emphasising the need to prioritise conservation of capital. The approach of onboarding quality counterparty has provided an impetus to resilient growth in business while protecting capital. Capital preservation involves prudent risk management and effective capital allocation to sustain long-term growth and stability. The Bank focusses on growing its loan portfolio in a granular manner with a focus on risk and reward.
Agile Risk Management
This is a key strength of the Bank, characterised by a dynamic approach to identifying and managing risks. This proactive approach enables the Bank to stay ahead of potential threats and capitalise on opportunities. By encouraging constructive challenge, the Bank fosters a culture of open discussion and continuous improvement, ensuring that risk management strategies are robust, effective, and aligned with business objectives.
Compliance with Conscience
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. The Bank conducts business within the boundaries of law and regulations and aligned with best practices. The Bank recognises the importance of establishing an effective framework and supporting processes so that all employees seek to exhibit values aligned to the risk and compliance culture policy.
