ICICI Bank’s Sri Lanka branch (the "Bank") operations recorded a profit before tax of Rs.312 million for the financial year ended March 31, 2009, reflecting a growth of 54% over the previous year’s profit before tax of Rs. 201 million. The branch recorded profit after tax of Rs.189 million for the financial year ended March 31, 2009 compared to Rs.169 million for the previous year.

Given the challenging economic environment during the year, the Bank pursued a strategy of prioritizing capital conservation and liquidity management. This is reflected in the Bank’s strong capital adequacy and excess liquidity. The Bank also placed a strong emphasis on efficiency improvement and cost rationalization.

The ratio of Non Performing Loans to Gross Lending Portfolio stood at 0.89% while the Net Non Performing Ratio was at 0.81% as at March 31, 2009. The Core Capital Adequacy Ratio as at March 31, 2009, as per Central Bank guidelines on Basel II norm was 76.69% and the Total Capital Adequacy Ratio was 77.62% giving the Bank ample opportunity to grow its operations in Sri Lanka.