Post-Lehman, ICICI Bank Ltd (NYSE-IBN), India’s largest private sector bank, became the target of a spate of rumours and hostile media coverage, creating nationwide concern about the possibility of the Bank going bankrupt, getting merged or nationalized. It was a crisis that could send not only ICICI Bank but also the Indian banking industry into turmoil.The crisis management campaign that followed has become a case study of disaster management for India's banking industry. The objective was to restore confidence by communicating the key messages of the Bank's financial solidity and its commitment to customers. This was done through open and transparent communication to all stakeholders using multi-media channels and regional, national and global networks.

Phase 1:• Contain and neutralise rumours in regional pockets• Publish statements on corporate website; update Intranet • Create war room • Organise senior executives’ interviews with regional media • Monitor print/electronic media; control negative stories• Rope in self-help groups as influencer in towns/villages• E-mails to employees from top management Phase 2:• Engage national media • Reprint positive news-clips in 16 languages and circulate• Implement advocacy strategy• Make live dark website with fact-sheets, CEOs statements, positive news-clips and videos • Begin blog tracking/response • CEO interviews on national/global channels• Town-hall meets in key regions• CEO-employee engagement through special video magazinePhase 3:• Engage media to report on complaints lodged with police/regulators• Text campaign for 7 million customers• Organise CEO interviews with credible media personalities• Position policy-makers' statements in prime-time and front-pages; translate in local languages, display in ATMs/BranchesPhase 4:• Internal training for 'customer delight'• Reputation-building initiatives continue across national/global platforms

• The Finance Ministry, banking and market regulators and industry leaders vouch for ICICI Bank’s soundness and consummate handling of the crisis.• Depositors return even as the Bank clocks impressive media coverage.• S&P, Moody's reaffirm stable ratings.• AC Nielsen tracking report highlights the return to stakeholder confidence.• The Bank's iconic status as a symbol of good corporate governance and trust restored.

• India's long-term growth story reinforced.• Stakeholder and borrower confidence was restored through classic crisis management and advocacy interventions.

• Estimated media exposure: Print: 49659 sq cms; Electronic: 20 million viewers.• Sustained advocacy resulted in endorsements and favourable press statements from the country’s Finance Ministry, the Central Bank, the market regulator and top corporate leaders.• Global credit rating agencies reaffirmed ratings.