ICICI Bank’s retail credit card spend rises 60% in FY2023 compared to last year

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New Delhi, October 5 (Meel Bijendra) – More than 28 million users on iMobile Pay: iMobile Pay, ICICI Bank’s mobile banking application, has more than 28 million users. The total value of transactions done through this app stood at close to INR 9,000 billion in fiscal 2023.

Over 1.5 million users on InstaBIZ: ICICI Bank has over 1.5 million active users on its business banking app, InstaBIZ. Around 225,000 non-ICICI Bank account holders registered on this app. The value of financial transactions on InstaBIZ grew by 22% in fiscal 2023.

Credit card spends grew by 60%: Retail credit card spends grew by 60% in fiscal year 2023 compared to the previous year.

UPI P2M transactions doubled: The value of UPI Person to Merchant (P2M) transactions grew more than 100% in fiscal year 2023 on the back of a 55% growth in the volume of these transactions.

Also read: Axis Bank says wealth management business ‘Burgundy’ remains largest in India with combined assets of INR 3.6 trillion

Close to 29% market share in FASTag: ICICI Bank continues to be one of the leading bank in electronic toll collections through FASTag with a market share of close to 29%. ICICI bank electronic toll collections through FASTag increased by 28% in fiscal year 2023.

Supply Chain finance grew by 56%: The outstanding book of supply chain finance business, including structured trade, grew 56% in fiscal year 2023.

Trade Online transactions grew by 47%: The value of transactions on the Trade Online platform of the Bank grew by 47% in fiscal year 2023.

Presence across India: ICICI Bank has a nationwide network of 5,900 business centers (branches), 16,650 ATMs and Cash Recycler Machines, and 1,102 Insta Banking Kiosks, at March 31, 2023.

Over 51% business centres in rural and semi-urban areas: More than half of the Bank’s business centers, and one-fourth of ATMs and Cash Recycler Machines are based in rural and semi-urban areas.

IGBC certification: One-third of the Bank’s premises spanning over 4.42 million square feet was IGBC certified as at March 31, 2023.

The Indian Green Building Council (IGBC), part of the Confederation of Indian Industry (CII), is the country’s premier body for green building certification. The ratings are awarded based on assessment of energy efficiency, use of renewable energy, water conservation, waste management, indoor air quality and sustainable sourcing of material.

Financial assistance provided to 10 million rural women: The Bank provided credit to 10 million rural women through over 785,000 SHG loans at March 31, 2023.

Supporting over 400 hospitals: ICICI Bank supported over 400 hospitals benefitting 1.5 million people by strengthening healthcare infrastructure and improving health facilities till date.

Also read: Bank of Baroda’s total deposits increased by 15.1% YoY to INR 12,03,688 crore during FY 2023