ICICI Bank 2003 Annual Report Download - page 110

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F46
schedules
forming part of the Consolidated Accounts Continued
8. Related party transactions
ICICI Bank has entered into transactions with the following related parties :
• Affiliates of the Bank;
• Whole-time Directors of the Group
The related party transactions can be categorised as follows:
Rupees in million
Whole-time
Associates (1) & (2) Directors Total
Deposits 161.5 20.3 181.8
Receiving of services 92.8 — 92.8
Insurance Premium paid 106.0 — 106.0
(1) Prudential ICICI Asset Management Company Limited, Prudential ICICI Trust Limited, TCW/ICICI Investment Partners
L.L.C.
(2) Includes transactions with ICICI Prudential Life Insurance Company Limited and ICICI Lombard General Insurance
Company Limited which have been accounted for as joint ventures in the consolidated financial statements.
Remuneration paid to the Whole-time Directors of ICICI Bank Limited during the year ended March 31, 2003 was
Rs. 41.0 million.
9. Earnings Per Share (’EPS’)
The Group reports basic and diluted earnings per equity share in accordance with Accounting Standard-20 (AS-20),
Earnings per Share. Basic earnings per share is computed by dividing net profit after tax by the weighted average
number of equity shares outstanding for the year. Diluted earnings per share is computed using the weighted average
number of equity shares and dilutive potential equity shares outstanding during the year.
The computation of Earnings per Share is set out below :
Rupees in million except per share data
March 31, 2003 March 31, 2002
Basic
Weighted Average no. of equity shares outstanding (Nos.) .................. 613,031,569 *222,510,311
Net Profit ................................................................................................... 11,520 2,583.0
Earnings per Share (Rs.) ........................................................................... 18.79 11.61
Diluted
Weighted Average no. of equity shares outstanding (Nos.) .................. 613,750,295 *222,510,311
Net Profit ................................................................................................... 11,520 2,583.0
Earnings per Share (Rs.) ........................................................................... 18.77 11.61
Nominal Value per share (Rs.) ................................................................. 10.00 10.00
• 39,26,72,724 shares issued on amalgamation of ICICI Limited have been considered for computation of weighted
average number of equity shares.
10. Assets under lease
10.1 Assets under operating lease
The future lease rentals are given in the table below :
Rupees in million
Period March 31, 2003
Not later than one year ............................................................................ 111.9
Later than one year and not later than five years ................................. 545.6
Later than five years ................................................................................. 472.0
Total ........................................................................................................... 1,129.5