ICICI bank is a safe choice to keep our money because the bank is in the hands of strong management. Additionally, when compared to earlier quarters, the bank delivered better results and showed improvement in factors like the Capital Adequacy Ratio (CAR) and NPA ratio.
It has become crucial to understand whether or not your bank is secure in the face of cyber fraud and banking scams. Are you are considering opening a bank account with ICICI Bank? Do you already have an ICICI bank account and want to know if it is secure? Don’t worry, today we will discuss and will see whether ICICI Bank is safe or not.
Is ICICI bank safe?
ICICI Bank is an Indian private bank . It offers a wide range of banking and financial services, including deposits, loans, cards, investments, insurance, demat, NRI services online, etc.
In addition to having a nationwide network of 5,275 branches and 15,589 ATMs, it is also present in 17 other nations. This demonstrates the bank’s strong management and considerable potential.
Therefore, in terms of management and services ICICI bank is indeed a safe bank.
To further clarify, let’s look at some technical aspects also.
1. NPA ratio :
The proportion of advances or loans that are in default or arrears are represented by the NPA ratio. The NPA ratio ought to be at a minimum (less than 3%). ICICI bank has -
- Gross NPA ratio - 3.41 %
- Net NPA ratio - 0.70 %, which is less than the previous quarters.
2. Capital Adequacy Ratio(CAR):
The CAR evaluates a bank’s capital position in relation to the risks involved in loan disbursement. CAR should be high because it ensures banks have sufficient room to absorb reasonable losses.. ICICI bank has -
- Capital Adequacy Ratio -17.95% % (Tire- I) compared to the minimum regulatory requirements of 9.70% , which is a quite good.
3. Under Bank Nifty:
ICICI bank is the second largest bank listed under Bank Nifty in terms of market capitalization.
ICICI bank safety and security features
The well-managed ICICI bank has a substantial network throughout India and abroad. Although the bank has been able to keep the minimal requirement to enter the safe zone. As a result, ICICI Bank is unquestionably a secure option for keeping our money.
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