ICICI Bank 2009 Annual Report Download - page 98

F24
Purchase of fixed assets
During the year ended March 31, 2009, the Bank purchased fixed assets from its subsidiaries amounting to Rs. 1.2
million (March 31, 2008: Rs. Nil) and from its associates/joint ventures/other related entities amounting to Rs. 13.0 million
(March 31, 2008: Rs. Nil). The material transactions for the year ended March 31, 2009 were with Financial Information
Network and Operations Limited for Rs. 12.4 million (March 31, 2008: Rs. Nil).
Donation
During the year ended March 31, 2009, the Bank has given donation to ICICI Foundation for Inclusive Growth amounting
to Rs. 300.0 million.
Letters of Comfort
The Bank has issued letters of comfort on behalf of its foreign subsidiaries namely, ICICI Bank UK PLC and ICICI Bank
Canada. The details of the same are given under:
On behalf of To Purpose
ICICI Bank UK PLC Financial Services Authority,
UK (“FSA”) To financially support ICICI Bank UK PLC to ensure that it meets all of its financial obligations as they fall due.
ICICI Bank Canada Office of the Superintendent of
Financial Institutions, Canada
(“OSFI”)
To infuse additional capital should ICICI Bank Canada’s capital fall below
the minimum requirement and provide ICICI Bank Canada ongoing
financial, managerial and operational support.
ICICI Bank Canada Canada Deposit Insurance
Corporation (“CDIC”) To comply with the Bank Act and the CDIC regulations or by-laws there under and to indemnify CDIC against all losses, damages, reasonable
costs and expenses arising from failure of ICICI Bank Canada in
performing the same.
The Bank has issued an undertaking on behalf of ICICI Securities Inc. for Singapore dollar 10.0 million (Rs. 333.5 million) to
Monetary Authority of Singapore (MAS), which is included in the contingent liabilities.
As per the assessment done, there is no financial impact of the above letters issued to overseas regulators as at
March 31, 2009.
In addition to the above, the Bank has also issued letters of comfort in the nature of awareness on behalf of banking and
non-banking subsidiaries in respect of their borrowings made or proposed to be made and for other incidental business
purposes. As they are in the nature of factual statements or confirmation of facts, they do not create any financial impact
on the Bank.
Related party balances
The balances payable to/receivable from subsidiaries/joint ventures/associates/other related entities/key management
personnel and relatives of key management personnel included in the balance sheet as on March 31, 2009 are given
below:
Rupees in million
Items/Related party Subsidiaries Associates/joint ventures/other
related entities
Key
Management
Personnel
Relatives of Key
Management
Personnel Total
Deposits with ICICI Bank ...................... 12,390.3 434.2 56.7 16.9 12,898.1
Deposits of ICICI Bank .......................... 55.8 — — — 55.8
Call/term money lent ............................. 4,260.5 — — — 4,260.5
Call/term money borrowed ................... 3,544.7 — — — 3,544.7
Advances ............................................... 19,294.0 42.5 7.9 7.5 19,351.9
Investments of ICICI Bank ..................... 131,711.6 12,034.2 — — 143,745.8
Investments of related parties in
ICICI Bank .............................................. 794.8 — 9.3 — 804.1
Receivables ........................................... 1,964.3 239.4 — — 2,203.7
Payables ................................................ 67.8 289.5 — — 357.3
Guarantees ............................................ 3,404.5 1,916.1 — — 5,320.6
Swaps/forward contracts
(notional amount) .................................. 550,751.0 — — — 550,751.0
Employee Stock Options
Outstanding (Nos.) ............................... — — 3,318,125 — 3,318,125
Employee Stock Options Exercised1 .... — — — — —
1. During the year ended March 31, 2009, Nil employee stock options were exercised.
forming part of the Accounts (Contd.)
schedules