ICICI Bank 2003 Annual Report Download - page 118
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F54
for the year ended March 31,
2001
(1)
2002
(2)
2003 2003
Convenience
translation
into USD
(unaudited)
Rs. Rs. Rs. USD
Interest and dividend income
Interest and fees on loans 75,272 75,237 75,080 1,579
Interest and dividends on securities 499 1,447 17,022 358
Interest and dividends on trading assets 2,837 1,715 2,754 58
Interest on balances and deposits with banks 910 368 1,151 24
Other interest income 586 100 2,096 44
Total interest and dividend income 80,104 78,867 98,103 2,063
Interest expense
Interest on deposits 490 744 26,033 547
Interest on long-term debt 56,830 59,798 48,163 1,013
Interest on short-term borrowings 9,123 7,717 3,829 81
Interest on trading liabilities 1,446 911 3,114 65
Other interest expense 4 350 2,069 44
Total interest expense 67,893 69,520 83,208 1,750
Net interest income 12,211 9,347 14,895 313
Provision for loan losses 9,892 9,743 19,649 413
Net interest income/(loss) after provision for loan losses 2,319 (396) (4,754) (100)
Non-interest income
Fees, commission and brokerage 5,317 4,703 5,722 120
Net gain on trading activities 847 2,442 3,075 65
Net gain/(loss) on venture capital investments 62 (316) (1,278) (27)
Net gain/(loss) on other securities (1,776) (3,256) 956 20
Net gain on sale of loans and credit substitutes 705 1,979 2,795 59
Foreign exchange income/(loss) (108) 78 92 2
Software development and services 701 1493 1,062 22
Gain on sale of stock of subsidiaries/affiliates 2,507 165 ——
Gain/(loss) on sale of property and equipment (31) 29 16 —
Rent 413 310 117 2
Other non-interest income 606 521 696 15
Total non-interest income 9,243 8,148 13,253 278
Non-interest expense
Salaries and employee benefits 1,877 2,980 5,383 113
General and administrative expenses 3,342 4,616 12,581 264
Amortization of goodwill and intangible assets 260 — 645 13
Total non-interest expense 5,479 7,596 18,609 390
Income/(loss) before equity in earning/(loss)
of affiliates, minority interest, income taxes
and cumulative effect of accounting changes 6,083 156 (10,110) (212)
Equity in earning/(loss) of affiliates 735 294 (958) (20)
Minority interest 18324 —
Income/(loss) before income taxes and
cumulative effect of accounting changes 6,819 533 (11,044) (232)
Income tax (expense)/benefit (189) (251) 3,061 64
Income/(loss) before cumulative effect of accounting changes 6,630 282 (7,983) (168)
Cumulative effect of accounting changes, net of tax — 1,265 ——
Net income/(loss) 6,630 1,547 (7,983) (168)
consolidated statements of operations
(in millions, except share data)