UK Consumers Saving for Summer Holidays as Spending Cuts Loom

LONDON, July 31, 2010 - New research from ICICI Bank UK Plc reveals that just as we enter the age
of austerity, UK consumers are primarily saving their hard-earned cash for
holidays and weekend breaks, rather than for future family financial
security.

Despite facing leaner times amid tax rises and frozen salaries, research
from ICICI shows that only a small percent of adults are saving for items
such as school fees or planning for a new baby - whilst much larger numbers
are saving for holidays and weekend breaks, Christmas, a new car, new clothes
and home technology, or a new home/home improvements.

    Key findings:

    - A whopping 42% admitted to saving for a summer holiday or
      weekend break
    - Christmas was also significant in terms of prioritising savings -
      25% said they were putting money aside for the festive season
    - A new home or home improvements came a close third at 24%
    - Only 5% of adults surveyed said they were saving for school fees
      in 2010
    - The same number of adults said they would be saving for a new
      baby this year

It seems that holidays are the main priority on savers' minds, with those
in Scotland and the North of the UK being the biggest savers for this
purpose, whilst on a city level around Great Britain, Norwich, Leeds and
Birmingham are the highest saving cities.

Anubrata Biswas, Head of Retail Banking for ICICI Bank UK comments: "Our
findings are encouraging in that they indicate that people are still managing
to put money away. Even for short term needs such as holidays and other
treats consumers need to make the most of the best available savings offers
on the market. Equally it's important to set some savings aside for
emergencies and the longer term, where higher interest rates are available.
ICICI offers transparent and consistent asterisk free saving through its
HiSAVE product range, which provides great value on both short and long term
options."

The product and services mentioned in this press release are provided by
ICICI Bank UK PLC and are subject to terms & conditions (available on
www.hisave.co.uk and www.icicibank.co.uk or at any of our
branches) ICICI Bank and the "I man" logo are the trademarks and property of
ICICI Bank.

For more information or to arrange interviews, contact: Lisa Donohue/ Rosie Dodd, +44(0)20-7269-7219 / 7112/ 7164, Lisa.Donohue at fd.com / Rosie.Dodd at fd.com / andrew.cummine at fd.com