No constraint on tech spends: ICICI Bank executive director Anup Bagchi

The latest offering from the bank is a comprehensive digital ecosystem for all micro, small and medium enterprises (MSMEs) in the country, including customers of other banks

The country’s second largest private sector lender ICICI Bank is betting big on open architecture and interoperable model on its digital initiatives to gain customers across segments, with spends on technological infrastructure not being a constraint for the bank.

The bank’s non-employee expenses increased 15.6 per cent year-on-year (YoY) to Rs 4,620 crore in Q4FY22, primarily due to retail business and technology-related expenses. For the whole year, non-employee expenses increased 26.65 per cent YoY to Rs 17,060 crore. Technology expenses were about 8.5 per cent of the operating expenses in FY22, or roughly about Rs 2,272 crore.

“If you have 5-10 per