ICICI Bank 2005 Annual Report Download - page 78

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F18
forming part of the Accounts (Contd.)
Insurance services
During the year ended March 31, 2005, the Bank paid insurance premium to insurance joint ventures amounting to
Rs. 315.4 million (March 31, 2004: Rs. 157.2 million). During the year ended March 31, 2005 the Bank received
claims from insurance subsidiaries amounting to Rs. 8.4 million (March 31, 2004: Rs. 85.6 million).
Fees
During the year ended March 31, 2005, the Bank received fees from its insurance joint ventures amounting to Rs.
279.8 million (March 31, 2004: Rs. 65.3 million) and commission of Rs. 5.3 million on account of guarantees and LCs
issued for subsidiaries (March 31, 2004: Rs. 1.0 million).
Lease of premises and facilities
During the year ended March 31, 2005, the Bank charged an aggregate amount of Rs. 432.8 million (March 31, 2004:
Rs. 361.9 million) for lease of premises, facilities and other administrative costs to subsidiaries and joint ventures.
Sale of housing loan portfolio
During the year ended March 31, 2005, the Bank sold housing loan portfolio to its subsidiary amounting to Rs.
3,059.7 million (March 31, 2004: Rs. 18,317.2 million).
Secondment of employees
During the year ended March 31, 2005, the Bank received Rs. 8.4 million (March 31, 2004: Rs. 14.2 million) from
subsidiaries and joint ventures for secondment of employees.
Purchase of investments
During the year ended March 31, 2005, the Bank purchased certain investments from its subsidiaries and joint
ventures amounting to Rs. 32,440.1 million (March 31, 2004: Rs. 49,814.2 million) and from its associate amounting
to Rs. 820.0 million (March 31, 2004: Rs. 9,629.6 million).
Sale of investments
During the year ended March 31, 2005, the Bank sold certain investments to its subsidiaries and joint ventures
amounting to Rs. 22,668.5 million (March 31, 2004: Rs. 3,234.1 million). On the sales made to subsidiaries and joint
ventures, the Bank accounted for a loss of Rs. 12.4 million (March 31, 2004: Gain of Rs. 199.2 million).
Redemption/ Buyback and Conversion of investments
During the year ended March 31, 2005, certain investments in subsidiaries and joint ventures in preference shares
were converted to equity shares amounting to Rs. 250.0 million (March 31, 2004: Rs. Nil). Consideration of Rs. 106.9
million (March 31, 2004: Rs. 197.2 million) was received on account of buyback of equity shares by a subsidiary and
a gain amounting to Rs. 67.4 million (March 31, 2004: Rs. 9.8 million) was accounted in the books. Equity units in
associates amounting to Rs. 2,362.8 million (March 31, 2004: Rs. 350.0 million) were redeemed during the year and
a gain of Rs. 19.8 million (March 31, 2004: Rs. Nil) was accounted on redemption.
Reimbursement of expenses
During the year ended March 31, 2005, the Bank reimbursed expenses to its subsidiaries amounting to Rs. 2,596.0
million (March 31, 2004: Rs. 2,075.7 million).
Brokerage paid
During the year ended March 31, 2005, the Bank paid brokerage to its subsidiary amounting to Rs. 9.1 million
(March 31, 2004: Rs. 5.7 million).
Custodial charges received
During the year ended March 31, 2005, the Bank received custodial charges from its subsidiaries and joint ventures
amounting to Rs. 5.7 million and associates amounting to Rs. 2.2 million (March 31, 2004: Rs. 4.7 million).
Interest paid
During the year ended March 31, 2005, the Bank paid interest to its subsidiaries and joint ventures amounting to
Rs. 255.7 million (March 31, 2004: Rs. 67.9 million) and to its associates amounting to Rs. 1.1 million (March 31,
2004: Rs. 9.5 million).
Interest received
During the year ended March 31, 2005, the Bank received interest from its subsidiaries and joint ventures amounting
to Rs. 376.7 million (March 31, 2004: Rs. 327.2 million) and from its key management personnel@ Rs. 0.3 million
(March 31, 2004: Rs. 0.4 million).
Other Income
At March 31, 2005, the Bank has accounted gain on derivative transactions entered into with subsidiaries and joint
ventures amounting to Rs. 462.3 million (March 31, 2004: loss of Rs. 62.4 million).
Dividend received
During the year ended March 31, 2005, the Bank received dividend from its subsidiaries and joint ventures amounting
to Rs. 714.5 million (March 31, 2004: Rs. 1,289.7 million) and from its associates amounting to Rs. 1,221.8 million
(March 31, 2004: Rs. Nil).
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