ICICI Bank - Growing Franchise Through Technological Innovations: Motilal Oswal
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Motilal Oswal Report
We attended ICICI Bank Ltd.'s analyst day, where the management highlighted how the strengthening of its digital capabilities is helping transform the bank and increase throughput rates, while offering customers a superior experience.
The bank is capable of building and scaling digital capabilities like the best of the FinTechs, though agility, constant innovation, and customer focus remains the key to success.
ICICI Bank has been reporting strong growth in retail advances, supported by an impressive share of digital originations, while small and medium enterprise/business banking growth has been robust, aided by various digital applications.
With a resilient asset quality and an improving economic environment (as reflected by key economic indicators – goods and services tax collections, gross domestic product growth, and purchasers' managers index), it appears firmly positioned to deliver healthy sustainable growth.
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