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ICICI BANK Probationary Officer Programme

ICICI Bank Best Bank in Asia *Euromoney Awards, 2007

Expanding Horizons of Learning

India is one of the few high growth economies of the world. For the third consecutive year, India's growth story (GDP growth rate of more than 9%) had been led by robust growth in the services sector. Today, India is increasingly being seen as a global operations hub and supply centre for skilled resources. It has favourable demographic profile with nearly 53% of its population in the under 25 age group.

Need for the ICICI Academy Today, “Industry Ready” education is lacking. In India, a large number of capable people have limited access to quality education due to language barrier and high cost of education in the specialized areas. Around 2/3rd of India's young and educated population is getting excluded from the India growth story. The talent crunch is worsened by this exclusion of bright and academically capable people from contributing to India's economic growth. The ICICI Academy seeks to identify hidden talent and potential in India and bring forth such people who ordinarily will not have access to ICICI Group, enabling them to become a part of India's growth drivers. The ICICI Academy will…. • Expand the pool of Industry Ready resources. • Generate inclusive employment opportunity for capable, young graduates. • Make a difference to the customers by ushering in first day first hour productivity.

About ICICI Group ICICI Group is the first Universal Banking Group in India, providing customers with gamut of corporate and retail Financial Services. The Group comprises of the following companies: ICICI Bank (NYSE:IBN) is India's largest private sector bank with over 50 years presence in financial services and with assets of Rs. 3,997.95 billion (US$ 100 billion) on March 31, 2008. ICICI Bank is a leading player in the retail banking market and services its large customer base through a network of 1400 branches and extension counters, 4000 ATMs, Call Centres, Internet banking (www.icicibank.com) & Mobile banking to ensure that customers have easy access to its services at all times. Our subsidiaries, ICICI Securities and ICICI Primary Dealership engaged in equity underwriting, brokerage and primary dealership in government securities owns ICICI Direct.com, a leading online brokerage platform. Our venture capital and private equity fund management subsidiary ICICI Venture Funds Management Company manages funds that captures venture capital funding to start-up companies and undertake private equity investments. Our subsidiaries ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Prudential Asset Management Company provide a wide range of life and general insurance and asset management products and services to retail and corporate customers respectively.

About ICICI Academy The ICICI Academy will exclusively service the Human Resource requirements of the ICICI Group. The academy will provide programmes in Banking and Insurance with the aim of developing graduates into specialists in the area of

Banking and Insurance. For this purpose, the ICICI Group will provide the course content, which will be delivered by the Academy.

Probationary Officer Programme

(f) Successful completion of the PO Programme will entitle the Probationary Officer to further their management education through e-MBA course in Banking and Insurance (Distance learning)

The Probationary Officer Programme, aims to create a pool of specialist bankers from graduate students by equipping them with appropriate banking knowledge and skills. The Programme is a one year, full time, residential training Programme which will be conducted at ICICI Academy campus at Bangalore or any other location as decided by ICICI Bank. Those who successfully complete the PO programme will be awarded a Post Graduate Diploma in Banking and also absorbed as Assistant Manager- I grade in the Bank. The salient features of the PO Programme are as follows: (a) The programme will have blended curriculum with classroom, e-learning and internship. (b) The programme will impart knowledge and skills in core banking, one specialized area in Banking, etiquette & grooming and language skills. (c) The classroom sessions (9 months, trimester pattern) will be conducted at the ICICI Academy and Internship (3 months) can be at any ICICI Bank branch or office (within India). (d) The Probationary Officers (POs) will be paid monthly stipend of Rs. 2500/- per month for first 9 months to meet the out of pocket expenses and Rs. 10,000/- per month during internship towards their living expenses & a city allowance as decided by the Bank. Further the POs will also be covered under Group Medical Insurance, Group Life Insurance and Group Personal Accident Insurance for the duration of the programme. (e) Gross salary upon successful completion of the course will be more than Rs 3.5 lacs p.a. (CTC). The POs will get assured employment with ICICI Bank upon successful completion of the PO Programme.

Applicants Investment or fees for the Programme The PO will undergo a one year intensive residential classroom training and internship with a stipend. The PO Program is a “cashless bridge” to managerial jobs for aspiring students. To pursue the PO program, interested students will have to invest Rs. 1.5 lacs which would be provided by ICICI Bank at a subsidized loan at 2.5% interest. ICICI Bank will bear the remaining course fees. On successful completion of the program, the POs will be absorbed as Assistant Managers in the Bank. The EMIs for the loan would start once the POs have joined the bank. There would be no recovery of EMIs or interest during the training period, the interest accrued during this period would be recovered along with the normal EMIs. The EMIs are spread over a period of 36 months to ensure that there is minimal impact in the monthly earnings of the PO.

On successful completion of 36 months of service with ICICI, the loan amount would be paid back to the PO.

residential nature of the programme ensures that the POs imbibe the culture and values of ICICI Group.

However, if the applicant leaves the program during training / leaves within 3 years of joining ICICI Bank after training, ICICI Bank would recover the interest at market rate on the entire loaned amount for the period that the amount was loaned to the PO, plus the outstanding loan.

Career Options with ICICI Group

The Loan Agreement will have to be signed by the PO along with a guarantor at an ICICI Bank branch before joining the campus for training. Your gross salary on joining the Bank after training will be more than Rs. 3.5 Lakhs per annum.

Benefits on Investment Despite the Rs. 1,50,000/- being paid by the PO, it is a CASHLESS BRIDGE for a PO since; (a) The loan is being extended by ICICI Bank at subsidized interest rate of 2.5 % (b) No EMIs/Interest will be recovered during the training period when the PO would be paid stipend/scholarship (Rs. 2500/- during class room training phase of 9 months & more than Rs. 10,000/- during Internship phase of 3 months) to meet out of pocket expenses only. (c) The EMI/Interest recovery starts only from the 1st salary drawn by the PO on joining the bank after completion of the training & internship. (d) The salary for the PO at the grade that he would be joining (Asst. Manager Band I) has been adequately increased to cater for the payment of loan EMI of approximately Rs. 4,500/- per month. (e) On successful completion of 36 months of service with ICICI Bank, the loan amount would be paid back to the PO.

Where will the Programme be conducted? The Programme will be conducted at ICICI Academy (Bangalore Campus or any other location as decided by ICICI Bank). The campus is equipped with the best educational infrastructure like air-conditioned classrooms, video conferencing rooms, auditorium, well stocked library, residential centre, recreation and sports facilities, etc. The

ICICI Group follows a meritocratic and performance oriented culture where deserving employees are given responsibility ahead of time. The POs on being absorbed into the ICICI Group, will automatically be a part of the prevailing Performance Management cycle and their growth will depend solely on their performance and delivery on the job. Those POs who successfully complete the PO programme will join at the grade of Assistant Manager (Band I) or equivalent grade in the group companies. They can be currently placed in any of the following areas: • Trade Finance & CMS • Private Banking & Wealth Management • Risk and Credit Management • Treasury Management • Branch Management • Relationship Management • Any other Profile as decided by ICICI Bank. Upon absorption in the ICICI Group, the Probationary Officers will be on probation for a period of one year.

Probationary Officer Programme (07-08) Probationary Officer Programme for the year 2007 & 2008 received huge response from across the country. Shortlisted applicants were invited to appear in the Aptitude Test, Group Discussion & Personal Interview. 825 Merit Listed applicants, from locations across the country, with varied culture & academic background, were invited to join the Programme at ICICI Manipal Academy Hyderabad & Bangalore campus in January 2008 and are currently undergoing training. Another batch of 225 POs joined the Bangalore Campus in August 2008 for which the selection process was conducted in March & May 2008. Currently, 1050 Probationary Officers are undergoing training at ICICI Manipal Academy Campuses at Hyderabad & Bangalore.