ICICI Bank 2009 Annual Report Download - page 150

F76
The break-up of deferred tax assets and liabilities into major items is given below.
Rupees in million
Particulars As on March 31, 2009 As on March 31, 2008
Deferred tax asset
Provision for bad and doubtful debts ............................................ 22,037.1 18,395.7
Capital loss ..................................................................................... 131.4 —
Others ............................................................................................ 5,697.6 4,074.3
Total deferred tax asset ............................................................... 27,866.1 22,470.0
Less: Deferred tax liability
Depreciation on fixed assets ......................................................... 5,494.8 6,239.8
Others ............................................................................................ 109.3 75.2
Total deferred tax liability ............................................................ 5,604.1 6,315.0
Add: Net deferred tax asset pertaining to foreign branches/
foreign subsidiaries ...................................................................... 2,922.0 1,125.5
Total net deferred tax asset/(liability) ........................................ 25,184.0 17,280.5
During the year ended March 31, 2009, the Bank has recorded 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 capital
loss can be set off.
As on March 31, 2009 ICICI Wealth Management Inc. and ICICI Bank Canada have recorded deferred tax assets on carry
forward unabsorbed losses amounting to Rs. 32.7 million (March 31, 2008: Rs. 16.1 million) and Rs. Nil (March 31, 2008:
Rs. 685.6 million) respectively based on the virtual certainty that sufficient future taxable income will be available against
which such deferred tax assets can be realised.
In the case of the life and general insurance subsidiary, deferred tax asset has been recorded on carry forward unabsorbed
losses amounting to Rs. 3,180.8 million as on March 31, 2009 (March 31, 2008: Rs. 2,170.8 million) and Rs. 353.1 million
as on March 31, 2009 (March 31, 2008: Rs. Nil) respectively.
11. Information about business and geographical segments
A. Business segments for the year ended March 31, 2009
During the quarter ended June 30, 2008, a new business segment viz. “Venture fund management” had been identified for
the purpose of consolidated segment reporting as the result of this segment exceeded the threshold limits for identifying
reportable segment as set out in Accounting Standard 17 on ‘Segment Reporting’ issued by the Institute of Chartered
Accountants of India. Though the results of this segment does not exceed the threshold for identifying reportable segment
for the year ended March 31, 2009, the segment has been disclosed as a reportable segment in accordance with Accounting
Standard 17 on ‘Segment Reporting’ issued by the Institute of Chartered Accountants of India.
Pursuant to the guidelines issued by the Reserve Bank of India vide its circular no. DBOD.No.BP.BC.81/21.04.018/2006-07
dated April 18, 2007 on enhanced disclosure on “Segmental Reporting” which is effective from the year ended March 31,
2008, consolidated segmental report has been presented as follows:
1. Retail Banking includes exposures of ICICI Bank Limited (‘the Bank’) which satisfy the four criteria of orientation,
product, granularity and low value of individual exposures for retail exposures laid down in the Basel Committee on
Banking Supervision document “International Convergence of Capital Measurement and Capital Standards”, as per
the RBI guidelines for the Bank.
2. Wholesale Banking includes all advances to trusts, partnership firms, companies and statutory bodies, by the Bank
which are not included under the “Retail Banking” segment, as per the RBI guidelines for the Bank.
3. Treasury includes the entire investment portfolio of the Bank, ICICI Eco-net Internet and Technology Fund, ICICI Equity
Fund, ICICI Emerging Sectors Fund and ICICI Strategic Investments Fund.
4. Other Banking business includes hire purchase and leasing operations and other items not attributable to any particular
business segment of the Bank. Further, it includes the Bank’s banking subsidiaries i.e. ICICI Bank UK PLC, ICICI Bank
Canada and its subsidiary, namely, ICICI Wealth Management Inc. and ICICI Bank Eurasia Limited Liability Company.
5. Life Insurance represents ICICI Prudential Life Insurance Company Limited.
6. General Insurance represents ICICI Lombard General Insurance Company Limited.
7. Venture fund management represents ICICI Venture Funds Management Company Limited.
8. Others includes ICICI Home Finance Company Limited, ICICI International Limited, ICICI Securities Primary Dealership
Limited, ICICI Securities Limited, ICICI Securities Holdings Inc., ICICI Securities Inc., ICICI Prudential Asset Management
Company Limited, ICICI Prudential Trust Limited, ICICI Property Trust (Upto September 30, 2007), ICICI Investment
Management Company Limited, ICICI Trusteeship Services Limited, TCW/ICICI Investment Partners LLC., TSI Ventures
(India) Private Limited (Upto March 31, 2008), ICICI Kinfra Limited, ICICI West Bengal Infrastructure Development Corporation
Limited, Loyalty Solutions & Research Limited (with effect from June 30, 2008) and I-Ven Biotech Limited (with effect
from March 31, 2009).
Income, expenses, assets and liabilities are either specifically identified with individual segments or are allocated to
segments on a systematic basis.
All liabilities are transfer priced to a central treasury unit, which pools all funds and lends to the business units at appropriate
rates based on the relevant maturity of assets being funded after adjusting for regulatory reserve requirements.
forming part of the Consolidated Accounts (Contd.)
schedules