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ICICI BankIndia

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Last update: 2024-10-22 16:32:08
ICICI Bank's head office. Photo: Wikimedia Commons (CC BY 3.0)

Active

This profile is actively maintained
Last update: 2024-10-22 16:32:08
Bank info
BankTrack campaigns
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About
Website http://www.icicibank.com
Headquarters
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara
390 007 Gujarat
India
CEO/chair Sandeep Bakhshi
CEO
Supervisor
Reserve Bank of India
Ownership
listed on Bombay Stock Exchange, National Stock Exchange of India & NYSE

ICICI Bank's shareholder structure can be accessed here.

ICICI Bank was established in 1994 by the Industrial Credit and Investment Company of India (ICICI) and is India's third largest bank. The bank is active in personal and corporate banking, investment banking, insurances, venture capital services and asset management.

Sustainability
Commitments
Policies
Voluntary standards

ICICI Bank's most important sustainability commitments can be found at the website sections listed below.

Links

Corporate social responsibility

Policies

Environmental, Social and governance (ESG) policy

Bank policy
2024-06-29 00:00:00 | ICICI Bank

Corporate social responsibility policy

Bank policy
2021-04-30 00:00:00 | ICICI Bank

Code of business conduct and ethics

Bank policy
2019-12-17 00:00:00 | ICICI Bank

Group anti-money laundering policy

Bank policy
2008-04-30 00:00:00 | ICICI Bank
ICICI Bank has committed itself to the following voluntary standards:
Dodgy Deals

ICICI Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of ICICI Bank's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Major ‘coal banks’ refuse to stop financing coal power boom in Asia

To stop a wave of new coal development across Asia, the End Coal Finance coalition is asking likely financiers to pledge not to back new coal power projects.
2024-11-14 | Nijmegen | BankTrack, Inclusive Development International, Recourse
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks have not quit coal, 8 years after the Paris Agreement

Banks in China dominate global coal financing; those in Indonesia are outliers in having increased finance for coal since 2016
2024-05-03 | Nijmegen | Will O'Sullivan – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

67 organisations call on banks to cease financing metallurgical coal

Banks risk stranded assets & climate catastrophe in steel lending without metallurgical coal exclusions
2023-12-07 | Nijmegen | BankTrack, Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

Mapping Garment Industry Funding in India

2022-04-06 | Fair Finance Asia, Fair Finance India
Blog
BankTrack news BankTrack blog Partner news Partner blog

Asian banks falling behind in implementation of UN Human Rights Principles, new BankTrack benchmark shows

New benchmark of 18 Asian banks shows human rights performance below the global average
2022-04-05 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

A future without coal: banking on Asia's just energy transition

2021-11-10 | Fair Finance Asia
Blog
BankTrack news BankTrack blog Partner news Partner blog

Could financial sector vigilance have avoided Vizag gas leak?

India must make Environment, Social and Governance accountability mandatory so that lenders are responsible towards tax payers
2020-07-01 | Shreya Kaushik, Fair Finance India
Blog
BankTrack news BankTrack blog Partner news Partner blog

Massive forest fires and haze in Indonesia create public health and climate crisis

2019-09-19 | Environmental Paper Network
BankTrack news BankTrack blog Partner news Partner blog

India's top female banker resigns amid loan investigation

2018-10-04 | Nikkei Asian Review
BankTrack news BankTrack blog Partner news Partner blog

Eight banks submit bids to manage $3.2 billion Coal India stake sale

2015-11-16 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Sting operation reveals money laundering by top banks

2013-03-15 | The Times of India
Resources
Documents

Annual report 2023-2024

Annual report
2024-10-22 00:00:00 | ICICI Bank

Environmental, Social and governance (ESG) policy

Bank policy
2024-06-29 00:00:00 | ICICI Bank

Still Banking on Coal press release

Commercial Banks Still Deep into Coal 8 Years After Paris
Partner publication
2024-05-02 00:00:00 | Urgewald

Commercial Banks Still Deep into Coal 8 Years After Paris

NGO document
2024-05-02 00:00:00 | Urgewald

Letter from BankTrack to ICICI Bank on Ending support for metallurgical coal

Correspondence
2023-12-07 00:00:00 | BankTrack

Annual report 2022-2023

Annual report
2023-08-07 00:00:00 | ICICI Bank

CSR report 2022-2023

Annual report
2023-07-12 00:00:00 | ICICI Bank

Annual report 2021-2022

Annual report
2022-08-09 00:00:00 | ICICI Bank

CSR report 2020-2021

Annual report
2021-08-13 00:00:00 | ICICI Bank

Annual report 2020-2021

Annual report
2021-07-23 00:00:00 | ICICI Bank

Business responsibility report 2019-2020

Other bank document
2021-07-18 00:00:00 | ICICI Bank

Corporate social responsibility policy

Bank policy
2021-04-30 00:00:00 | ICICI Bank

Annual report 2018-2019

Date listed represents date as accessed on website
Annual report
2019-12-17 00:00:00 | ICICI Bank

Business responsiblity report 2018-2019

Date listed represents date as accessed on website
Other bank document
2019-12-17 00:00:00 | ICICI Bank

Code of business conduct and ethics

Bank policy
2019-12-17 00:00:00 | ICICI Bank

Annual report 2017-2018

Annual report
2018-06-30 00:00:00 | ICICI Bank

Business responsibility report 2017-2018

Other bank document
2018-06-30 00:00:00 | ICICI Bank

Annual Report FY 2014

Annual report
2015-04-30 00:00:00 | ICICI Bank

Business reponsibility report 2014

Other bank document
2015-04-30 00:00:00 | ICICI Bank

Annual Report 2012-2013

Annual report
2012-12-31 00:00:00 | ICICI Bank

Business responsibility report 2012

Other bank document
2012-12-31 00:00:00 | ICICI Bank

Group anti-money laundering policy

Bank policy
2008-04-30 00:00:00 | ICICI Bank
Accountability
Grievances

ICICI Bank operates a Grievance Redressal channel which can be accessed here.

This page evaluates ICICI Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Human Rights

Banks and Human Rights

BankTrack assessed ICICI Bank in its 2022 Human Rights Benchmark Asia, where it achieved 0 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

Human Rights Benchmark Asia 2022

BankLast update
Country
Score
Ranking
Details
ICICI Bank
IND
0
Laggard 0
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6 points
6.5 - 9 points
9.5 - 14 points
For more details see this page.
Banks and Nature

Banks and Nature

ICICI’s policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0.2 out of 10 and ranking it as a laggard. ICICI achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0.2 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, ICICI provided USD 204 million in credit to companies operating in these forest-risk sectors. For more information, see the links below. 

Forests & Finance

Banks and beef

Banks and palm oil

Forest & Finance Policy Assessment 2022: Overall scores

BankLast update
Country
Score
Ranking
Details
ICICI Bank
2022-09-27
IND
0.2
Laggard 0.2
Explanation

A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Beef

BankLast update
Country
Score
Ranking
Details
ICICI Bank
2022-09-29
IND
0
Laggard 0
Explanation

A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.

Forest & Finance Policy Assessment 2022: Palm Oil

BankLast update
Country
Score
Ranking
Details
ICICI Bank
2022-09-29
IND
0.2
Laggard 0.2
Explanation

A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:

Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Banks and Steel

Banks and Steel

Partner organisation Reclaim Finance’s 2023 report on metallurgical coal financing showed that ICICI Bank provided US$ 1.2 billion in loans and underwriting to developers of new metallurgical coal between 2016 and 2022. Find further details on ICICI Bank’s metallurgical coal financing and and how it compares to other large banks globally in the report.

Reclaim Finance tracks the metallurgical coal policies of financial institutions, including banks, in their Coal Policy Tool. BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of ICICI Bank’s metallurgical coal policy below.

Metallurgical Coal Financing: Time to call it off 2023

Coal policy tool