ICICI Bank 2004 Annual Report Download - page 11

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RESULTS FOR QUARTER ENDED JUNE 30, 2004
SUBSIDIARY COMPANIES
DIRECTORS
As per the audited accounts for the quarter ended June 30, 2004, ICICI Bank's profit after tax was
Rs. 4.31 billion as compared to Rs. 3.40 billion for the quarter ended June 30, 2003.
At March 31, 2004, ICICI Bank had 14 subsidiaries:
1Subsidiary of ICICI Securities Limited
2Subsidiary of ICICI Securities Holdings Inc.
ICICI Bank acquired 100% stake in Transamerica Apple Distribution Finance Private Limited with effect
from May 7, 2003 and the name of the Company was changed to ICICI Distribution Finance Private
Limited with effect from June 3, 2003. ICICI Bank Canada was incorporated as a 100% subsidiary on
September 12, 2003.
As approved by the Central Government vide letter dated July 12, 2004 under Section 212(8) of the
Companies Act, 1956, copies of the balance sheet, profit & loss account, report of the Board of
Directors and report of the Auditors of the subsidiary companies have not been attached to the
accounts of ICICI Bank for fiscal 2004. ICICI Bank will make available these documents/details upon
request by any Member of ICICI Bank. These documents/details will be available on ICICI Bank's
website www.icicibank.com and will also be available for inspection by any Member of the Bank at its
Registered Office and Corporate Office and also at the Registered Office of the concerned subsidiary.
As required by Accounting Standard-21 (AS-21) issued by the Institute of Chartered Accountants of
India, ICICI Bank's consolidated financial statements included in this Annual Report incorporate the
accounts of its subsidiaries. A summary of key financials of ICICI Bank's subsidiaries is also included in
this Annual Report.
S.B. Mathur, Chairman, Life Insurance Corporation of India (LIC), which is among ICICI Bank's largest
institutional shareholders, was appointed as an additional Director effective January 29, 2004.
V. Prem Watsa was appointed as an additional Director effective January 29, 2004. He is the Chairman &
Chief Executive Officer of Fairfax Financial Holdings Limited (Fairfax). Fairfax is a financial services
holding company based in Canada with subsidiaries engaged in insurance, reinsurance, investment
management and insurance claims management. Lombard Canada Limited, ICICI Bank's joint venture
partner in general insurance, is a subsidiary of Fairfax. 11
Domestic Subsidiaries International Subsidiaries
ICICI Securities Limited
ICICI Bank UK Limited
ICICI Venture Funds Management Company Limited
ICICI Bank Canada
ICICI Prudential Life Insurance Company Limited 1
ICICI Securities Holdings Inc.
ICICI Lombard General Insurance Company Limited 2
ICICI Securities Inc.
ICICI Home Finance Company Limited ICICI International Limited
ICICI Investment Management Company Limited
ICICI Trusteeship Services Limited
1
ICICI Brokerage Services Limited
ICICI Distribution Finance Private Limited
Directors’ Report
dickenson intellinetics 5690 2791 ICICI Annual Report 2004