ICICI Bank 2003 Annual Report Download - page 162
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F98
A listing of the fair values by category of financial assets and financial liabilities is set out below:
(Rs. in millions)
As of March 31, 2002 As of March 31, 2003
Carrying Estimated Carrying Estimated
value fair value value fair value
Financial assets
Trading account assets 42,376 42,376 39,634 39,634
Securities (Note 1) 60,046 60,046 280,621 280,621
Loans (Note 2) 523,601 527,167 630,421 641,048
Other financial assets (Note 3) 46,259 46,259 115,705 115,705
Total 672,282 675,848 1,066,381 1,077,008
Financial liabilities
Interest-bearing deposits 7,380 7,609 456,051 454,251
Non-interest-bearing deposits ——35,239 35,239
Trading account liabilities 17,105 17,105 26,086 26,086
Short-term borrowings 70,804 70,954 42,095 42,017
Long-term debt 511,458 540,649 400,812 426,928
Redeemable preferred stock 772 980 853 1,035
Other financial liabilities (Note 4) 4,783 4,783 43,252 43,252
Total 612,302 642,080 1,004,388 1,028,808
Note 1: Includes non-readily marketable equity securities of Rs. 9,418million (2002: Rs. 8,268 million) for which there are no readily determinable
fair values.
Note 2: The carrying value of loans is net of the allowance for loan losses, security deposits and unearned income.
Note 3: Includes cash and cash equivalents and customers acceptance liability for which the carrying value is a reasonable estimate of fair value.
Note 4: Represents acceptances outstanding, for which the carrying value is a reasonable estimate of fair value.
32. Regulatory matters
Subsequent to the reverse acquisition of the acquiree, the Company is a banking company within the meaning of
the Indian Banking Regulation Act, 1949, registered with and subject to examination by the Reserve Bank of India.
Statutory liquidity requirements
In accordance with the Banking Regulation Act, 1949, the Company is required to maintain a specified percentage
of its net demand and time liabilities by way of liquid unencumbered assets like cash, gold and approved securities.
The amount of securities required to be maintained at March 31, 2003 was Rs. 230,644 million (2002: Nil).
Capital adequacy requirements
The Company is subject to the capital adequacy requirements set by the Reserve Bank of India, which stipulate a
minimum ratio of capital to risk adjusted assets and off-balance sheet items of 9% to be maintained. The capital
adequacy ratio of the Company calculated in accordance with the Reserve Bank of India guidelines at March31,2003,
was 11.10%.
For and on behalf of the Board
K.V. KAMATH KALPANA MORPARIA
Managing Director & Chief Executive Officer Executive Director
JYOTIN MEHTA N. S. KANNAN
General Manager & Company Secretary Chief Financial Officer & Treasurer
G. VENKATAKRISHNAN BALAJI SWAMINATHAN
General Manager Senior General Manager
Corporate Accounts & Taxation