ICICI Bank 2003 Annual Report Download - page 137

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F73
Continued
The summarized balance-sheets and statements of operations of these entities as of and for the year ended March
31, 2002 is set out below:
(Rs. in millions)
Balance sheet As of March 31, 2002
Prulife Lombard
Cash and cash equivalents 108 186
Securities 1,924 1,088
Other assets 757 296
Total assets 2,789 1,570
Liabilities 1,776 561
Stockholders’ equity 1,013 1,009
Total liabilities and stockholders’ equity 2,789 1,570
(Rs. in millions)
Statement of income Year ended March 31, 2002
Prulife Lombard
Interest income 124 56
Interest expense ——
Net interest income 124 56
Non-interest income 1,291 55
Non-interest expense (2,238) (227)
Income tax (expense)/benefit (11) 30
Net income/(loss) (834) ( 86)
Others
The other affiliates of the Company are Prudential ICICI Asset Management Company Limited (Pru-ICICI), Prudential
ICICI Trust Limited (Pru-Trust), TCW/ICICI Investment Partners LLC (TCW) and Semantik Solutions Gmbh, Germany.
The carrying value of the investment in such affiliates as of March 31, 2003, was Rs. 385million
(2002:Rs. 386million). The Company’s equity in the income of such affiliates for the year ended March 31, 2003,
was Rs. 13 million (2002:Rs. 46 million, 2001:Rs. 42 million).
10. Loans
A listing of loans by category is set out below:
(Rs. in millions)
Year ended March 31,
2002 2003
Project and corporate finance (1) (2) 416,386 387,870
Working capital finance (including working capital term loans) 42,225 74,422
Lease financing 49,865 26,927
Consumer loans and credit card receivables 73,013 188,286
Other 10,346 18,959
Gross loans 591,835 696,464
Unearned income (20,013) (8,902)
Security deposits (11,574) (2,922)
Loans, net of unearned income and security deposits .560,248 684,640
Allowances for loan losses (36,647) (54,219)
Loans, net 523,601 630,421
(1) Non-readily marketable privately placed debt instruments are classified as loans to reflect the substance of such transactions as substitutes for
direct lending (credit substitutes).
(2) Includes Rs. 62,716 million (2002: Rs. 60,282 million) of credit substitutes classified as loans.
notes to the consolidated financial statements