ICICI Bank 2006 Annual Report Download - page 124

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F65
schedules
forming part of the Consolidated Accounts (Contd.)
During the year ended March 31, 2006, the Bank has created a deferred tax asset on carry forward capital losses as based
on its firm plans it is virtually certain that sufficient future taxable capital gains will be available against which the loss can be
set off. Further, the life insurance subsidiary has created a deferred tax asset on carry forward unabsorbed losses amounting
to Rs. 262.4 million (March 31, 2005: Rs.107.9 million) based on the virtual certainty that sufficient future taxable income
will be available against which such deferred tax assets can be realised.
10. Other assets
a. Exchange fluctuation
Exchange fluctuation aggregating Rs. 25.0 million (March 31, 2005: Rs. 244.7 million), which arises on account of
rupee-tying agreements with the Government of India, is held in “Rupee Determine Exchange Fluctuation Account”
pending adjustment at maturity on receipt of payments from the Government for repayments to foreign lenders.
b. Swap suspense (net)
Swap suspense (net) aggregating Rs. 71.6 million (debit) (March 31, 2005: Rs. 794.7 million (debit)), which arises out
of conversion of foreign currency swaps, is held in “Swap suspense account” and will be reversed at conclusion of
swap transactions with swap counter parties.
11. Information about business and geographical segments
The Group reports its operations into the following segments:
Consumer and commercial banking comprises the retail and corporate banking operations of the Bank, ICICI Home
Finance Company Limited, ICICI Bank UK Limited, ICICI Bank Canada and ICICI Bank Eurasia Limited Liability Company.
Investment banking comprises the treasury of the Bank, the investment banking business of ICICI Securities Limited,
ICICI Brokerage Services Limited, ICICI Securities Inc., and ICICI Securities Holdings Inc., ICICI Venture Funds
Management Company Limited, ICICI Eco-net Internet & Technology Fund, ICICI Equity Fund, ICICI Strategic Investments
Fund, ICICI Emerging Sectors Fund and ICICI International Limited.
Others comprises of ICICI Lombard General Insurance Company Limited, ICICI Prudential Life Insurance Company
Limited, Prudential ICICI Asset Management Company Limited, Prudential ICICI Trust Limited, ICICI Property Trust,
ICICI Investment Management Company Limited, ICICI Trusteeship Services Limited, TCW/ICICI Investment Partners
LLC and TSI Ventures (India) Private Limited.
Inter-segment transactions are generally based on transfer pricing measures as determined by management. Income,
expenses, assets and liabilities are either specifically identifiable with individual segments or have been allocated to
segments on a systematic basis.
Based on such allocations, segmental balance sheet as on March 31, 2006 and segmental profit & loss account for the
year ended March 31, 2006 have been prepared.