ICICI Bank 2008 Annual Report Download - page 168

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F94
Sr.
No. Name of the entity Nature of business & consolidation status
21 ICICI Prudential Life Insurance Company Limited Life insurance – consolidated for financial
reporting but not for capital adequacy and
deducted from capital for capital adequacy
22 ICICI Lombard General Insurance
Company Limited General Insurance – consolidated for financial
reporting but not for capital adequacy and
deducted from capital for capital adequacy
23 ICICI Venture Value Fund1Unregistered venture capital fund – consolidated
by equity method
24 TSI Ventures (India) Private Limited Real estate consultancy – consolidated for
financial reporting but not for capital adequacy
25 ICICI Kinfra Limited Infrastructure development consultancy
– consolidated for financial reporting but not for
capital adequacy
26 ICICI West Bengal Infrastructure
Development Corporation Limited Infrastructure development consultancy
– consolidated for financial reporting but not for
capital adequacy
27 Financial Information Network and
Operations Limited Service provider – consolidated by equity method
for financial reporting but not consolidated for
capital adequacy
28 I-Process Services (India) Private Limited Service provider – consolidated by equity method
for financial reporting but not consolidated for
capital adequacy
29 I-Solutions Providers (India) Private Limited Service provider – consolidated by equity method
for financial reporting but not consolidated for
capital adequacy
30 NIIT Institute of Finance, Banking and
Insurance Training Limited Education and training in banking and finance
– consolidated by equity method for financial
reporting but not consolidated for capital
adequacy
1. Consolidating entities under Accounting Standard 21
a. Capital deficiencies
Majority owned financial entities that are not consolidated for capital adequacy purposes and for which
the investment in equity and other instruments eligible for regulatory capital status is deducted from
capital, meet their respective regulatory capital requirements at all times. There is no deficiency in capital
in any of the subsidiaries of the Bank as on March 31, 2008. ICICI Bank maintains an active oversight
on all its subsidiaries through their respective Boards and regular updates to the Board of ICICI Bank.
On a quarterly basis the capital adequacy position of subsidiaries (banking, non-banking & insurance
subsidiaries), as per applicable regulations, is reported to their respective Boards as well as to the Board
of the Bank.
b. Bank’s interest in insurance entities
The book value of the Bank’s total interest in its insurance subsidiaries, which is deducted from capital
for capital adequacy under Basel II is detailed in the table below.
Rupees in million
Name of the entity Country of
incorporation Ownership
interest Book value of
investment
ICICI Prudential Life Insurance Company Limited India 73.87% 27,819.0
ICICI Lombard General Insurance Company Limited India 73.83% 7,170.6
BASEL II – Pillar 3 Disclosures (Consolidated)
1P-less_(Pillar).indd 941P-less_(Pillar).indd 94 6/20/08 4:52:24 PM6/20/08 4:52:24 PM