ICICI Bank Ltd
Sales (2007-2008) = Rs.30000 crores (rounded off)
Net profit after tax = Rs.4000 crores (rounded off)
CSR Budget: ICICI Bank and its subsidiaries will contribute 0.75%-1.0% of their annual profits to the Foundation
Karmayog 2008 CSR Rating: 3/5
CSR activities:
Message from the Chairman
At the ICICI Group, we view our social initiatives and our ethical standards as core elements of the foundation we are building for our growth. During the year, we have sought to take our social initiatives to the next level through the establishment of The ICICI Foundation for Inclusive Growth. We believe that this will significantly expand the ICICI Group�s activities in the area of corporate social responsibility, philanthropy and community development. The Foundation will seek to catalyse and accelerate social and economic inclusion by bridging economic and human development gaps.The ICICI Group will continue to leverage growth opportunities in India and overseas, seek to make a significant contribution to the integrated development of our country and build a platform for sustained growth that will create value for our stakeholders.
ICICI Bank�s �Read to Lead� initiative aims to bridge gaps in the access to formal schooling for a large number of children from disadvantaged backgrounds. This initiative aims to reach out to 100,000 children through different voluntary organizations, facilitating formal schooling, bridge courses, and supplementary teaching-learning material. For children like Riya, formal education is now a reality
The Foundation�s mission is to improve the incomes of the low-income households in India. It believes that improving market access for low income households is the only sustainable way to bring about increase in their incomes and therefore it principally focuses its attention on redressing market failures which constrain them.
However, low income households are often not able to access even well functioning markets because they lack the necessary physical capacity and education due to lack of access to healthcare and schooling. It is also possible that even well-developed markets may not provide a level playing field for low income households. Also in the long-run markets may pursue strategies that are not environmentally sustainable. Driven by these concerns, the Foundation�s is actively mentoring institutions that work on these defined focus areas:
Markets: The Foundation focuses on facilitating universal access to finance to make markets more responsive to the needs of the poor and to link with low-income households both as producers and consumers. This is done through developing appropriate channels, business models and back-ends for financial services access. It also supports research and model building for expanding financial services access. The Foundation works closely with and mentors the IFMR Foundation (www.ifmrfoundation.org.in) and its partners to fulfill its own mission of increasing the incomes of low income households in a sustainable manner. It is the Foundation�s belief that addressing financial market failures substantively will have an impact on the access of low income households to a variety of other markets including healthcare, schooling and drinking water.
Human Capacity:
A focus on fundamental human capacities such as health and education is crucial for people to reach their full potential and lead productive lives. Child survival and early childhood development are amongst the most urgent development challenges facing India today.
The Foundation works closely with the ICICI Centre for Child Health & Nutrition (ICCHN) (http://www.icchn.org.in/), an interdisciplinary funding and research centre focused on the health and nutrition of vulnerable women,
infants and young children in India. Working in partnership with governments, Civil Society Organisations (CSOs)/Non-Governmental Organisation (NGOs), research institutions and the private sector, ICCHN concentrates on developing, evaluating and mainstreaming a range of community based and health system strategies to achieve scaled and sustainable improvements in health and nutrition. A population of 2.7 million has been impacted through ICCHN�s partners and interventions. Further, through its partnerships, ICCHN has supported state-wide public-health capacity building efforts in Chhattisgarh, Bihar, Jharkhand and Orissa for quality improvements
Promoting Inclusive Growth
Under the National Rural Health Mission (NRHM), as well as a city-wide effort in Mumbai. ICCHN�s support has enabled five of its partners to grow into important resource institutions for the health sector.
In the field of education the ICICI Foundation supports the ICICI Centre for Elementary Education (ICEE) (www.icee.org.in), which strives to play a catalytic role in improving the provision and quality of elementary education. It enters into partnerships with voluntary organisations working in education that have experience in teachers education, curriculum development, material development, educational research and running schools for marginalized communities and implementing large programmes. Working with these CSOs/NGOs, ICEE seeks to energise the existing government network of educational institutions at the district, state and national levels. Bodies like the State Councils of Educational Research and Training (SCERTs) and the District Institutes of Education and Training (DIETs) in several parts of the country form a part of this engagement. In its endeavour to improve the quality of elementary education, ICEE has reached out to nearly 6 million children through curricular reform. About 45,000teachers have been trained. It has partnerships with state governments of Bihar, Rajasthan, Chhattisgarh, Madhya Pradesh and Gujarat.
Sustainability:
Promoting environmental sustainability and the growth of a strong civil society are crucial requisites for inclusive growth. Towards this end, the Foundation has partnered with the Environmentally Sustainable Project Finance (ESPF)(http://ifmr.ac.in/cdf/project_finance.htm) research team at the Centre for Development Finance at IFMR, in order to foster markets for delivering high quality, environmentally sustainable infrastructure, goods and services. Its work is focussed on the areas of sustainable development, climate change, responsible investment and accountability. Towards building an effective civil society, the Foundation is actively mentoring CSO Partners (www.csopartners.org.in), a resource centre to strengthen CSOs which includes NGOs engaged in the task of social change and economic development and local self government organizations such as Gram Panchayats. CSO Partners seeks to facilitate strategic partnerships between CSOs and experienced service providers with whomit is in the process of building partnerships, in various areas, including fund-raising, financial management, volunteering, organisational governance, communications, accounting, human resources, legal aid and accounting. Its current partners include: GiveIndia (www.giveindia.org), Mitra (www.mitra.org.in), Infochange(www.infochangeindia.org), Governance Matters (www.governancematters.in) and MAM movies(www.mammovies.com).
The ICICI Group believes that inclusive growth is essential to the sustainable and healthy growth of the economy.The ICICI Group is committed to create conditions for the empowerment of low-income Indians and to facilitate inclusive growth.
Source:
www.icicibank.com/pfsuser/aboutus/investorelations/annualreport/icicibank/annualreport.htm
Annual Report 46 /47
http://www.icicifoundation.org/
Contact Information:
ICICI Bank Ltd
Landmark, Race Course Circle
Vadodara 390 007
Gujarat
Phone : 265 � 2339923, 2339924
Fax : 265 � 2325318
E-mail : companysecretary@icicibank.com
Website : http://www.icicibank.com/
Industry Sector: Bank-Private Sector
Products / Services: Financial Services
Other locations of factories / offices: Branches all over the country
Previous year�s CSR activities & rating:
www.karmayog.org/csr500companies/csr500companies_7864.htm