ICICI Bank 2003 Annual Report Download - page 158
Download and view the complete annual report
Please find page 158 of the 2003 ICICI Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157 -
158 -
159 -
160 -
161 -
162 -
163 -
164
 |
 |
F94
Details of guarantees outstanding are set out below:
(Rs. in millions)
Nature of guarantee Maximum potential amount of future payments under guarantee
Less than 1 year 1-3 years 3-5 years Over 5 years Total
Financial guarantees 5,755 4,598 118 17,753 28,224
Performance guarantees 3,260 2,111 786 10,462 16,619
Total 9,015 6,709 904 28,215 44,843
Capital commitments
The Company is obligated under a number of capital contracts. Capital contracts are job orders of a capital nature
which have been committed. As of the balance sheet date, work had not been completed to this extent. Estimated
amounts of contracts remaining to be executed on capital account aggregated Rs. 264million as of March 31, 2003
(2002: Rs. 756million).
Tax contingencies
Various tax-related legal proceedings are pending against the Company. Potential liabilities, if any, have been adequately
provided for, and the Company does not estimate any incremental liability in respect of these proceedings.
Litigation
Various litigation and claims against the Company and its subsidiaries are in process and pending. Based upon a
review of open matters with legal counsel, management believes that the outcome of such matters will not have
a material effect upon the Company’s consolidated financial position, results of operations or cashflows.
Operating lease commitments
The Company has commitments under long-term operating leases principally for premises and automated teller
machines. The following is a summary of future minimum lease rental commitments as of March 31, 2003, for
non-cancelable leases:
(Rs. in millions)
Lease rental commitments for the year ending March 31,
2004 237
2005 231
2006 223
2007 208
2008 174
Thereafter 320
Total minimum lease commitments 1,393
30. Related party transactions
The Company has transactions with its affiliates and directors/employees. The following represent the significant
transactions between the Company and such related parties:
Insurance services
During the year ended March 31, 2003 the Company paid insurance premium to Lombard amounting to
Rs. 224 million (2002: Rs. 26 million, 2001: Nil).
Lease of premises and facilities
During the year ended March 31, 2003, the Company received for lease of premises, facilities and other administrative
costs from Prulife, Rs. 84 million (2002: Rs. 54 million. 2001: Rs. 22million), from Pru-ICICI, Rs. 6 million
(2002: Rs. 5 million, 2001: Rs. 3million) and from Lombard, Rs. 82 million (2002: Rs. 50 million, 2001: Nil).
Continued
notes to the consolidated financial statements