ICICI Bank 2009 Annual Report Download - page 9

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7Annual Report 2008-2009
The Power of Belief
Directors’ Report
Your Directors have pleasure in presenting the Fifteenth Annual Report of ICICI Bank Limited with the audited
statement of accounts for the year ended March 31, 2009.
FINANCIAL HIGHLIGHTS
The financial performance for fiscal 2009 is summarised in the following table:
Rs. billion, except percentages Fiscal 2008 Fiscal 2009 % change
Net interest income and other income 161.15 159.70 -0.9
Operating profit 79.61 89.25 12.1
Provisions & contingencies129.05 38.08 31.1
Profit before tax 50.56 51.17 1.2
Profit after tax 41.58 37.58 -9.6
Consolidated profit after tax 33.98 35.77 5.3
1. Excludes provision for taxes.
Appropriations
The profit & loss account shows a profit after tax of Rs. 37.58 billion after provisions and contingencies of
Rs. 38.08 billion and all expenses. The disposable profit is Rs. 61.94 billion, taking into account the balance of
Rs. 24.36 billion brought forward from the previous year. Your Directors have recommended a dividend at the
rate of Rs. 11.00 per equity share of face value Rs. 10 for the year and have appropriated the disposable profit
as follows:
Rs. billion Fiscal 2008 Fiscal 2009
To Statutory Reserve, making in all Rs. 48.791 billion 10.40 9.40
To Special Reserve created and maintained in terms of Section 36(1) (viii) of
the Income-tax Act, 1961, making in all Rs. 23.44 billion 1.75 2.50
To Capital Reserve, making in all Rs. 16.19 billion 1.27 8.18
Dividend for the year (proposed)
– On equity shares @ Rs.11 per share (@ Rs. 11 per share for fiscal 2008)212.28 12.25
– On preference shares (Rs.) 35,000 35,000
– Corporate dividend tax 1.50 1.51
Leaving balance to be carried forward to the next year324.36 28.10
1. Includes Rs. 0.20 billion transferred on amalgamation of The Sangli Bank Limited with the Bank.
2. Includes dividend for the prior year paid on shares issued after the balance sheet date and prior to the record date.
3. After taking into account transfer to Reserve Fund Rs. 4.2 million for fiscal 2009, making in all Rs. 8.8 million.