ICICI Bank 2010 Annual Report Download - page 102

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F22
The material transactions for the year ended March 31, 2010 were with ICICI Securities Limited amounting to Rs. 437.4 million
(March 31, 2009: Rs. 454.8 million), ICICI Prudential Life Insurance Company Limited amounting to Rs. 2,708.9 million
(March 31, 2009: Rs. 2,385.3 million) and ICICI Lombard General Insurance Company Limited amounting to Rs. 403.5 million
(March 31, 2009: Rs. 625.6 million).
During the year ended March 31, 2010, the Bank received commission from its subsidiaries amounting to Rs. 8.1 million
(March 31, 2009: Rs. 9.0 million) and from its associates/joint ventures/other related entities amounting to Rs. 15.4 million
(March 31, 2009: Rs. 7.5 million). The material transactions for the year ended March 31, 2010 were with ICICI Home
Finance Company Limited amounting to Rs. 5.7 million (March 31, 2009: Rs. 7.8 million) and Firstsource Solutions Limited
amounting to Rs. 15.3 million (March 31, 2009: Rs. 7.2 million).
Lease of premises and facilities
During the year ended March 31, 2010, the Bank recovered from its subsidiaries an amount of Rs. 1,493.9 million
(March 31, 2009: Rs. 1,670.5 million) and from its associates/joint ventures/other related entities an amount of Rs. 34.5 million
(March 31, 2009: Rs. 7.0 million) for lease of premises, facilities and other administrative costs. The material transactions
for the year ended March 31, 2010 were with ICICI Securities Limited amounting to Rs. 231.9 million (March 31, 2009:
Rs. 361.5 million), ICICI Home Finance Company Limited amounting to Rs. 484.0 million (March 31, 2009: Rs. 344.2 million),
ICICI Bank UK PLC amounting to Rs. 263.9 million (March 31, 2009: Rs. 431.6 million), ICICI Lombard General Insurance
Company Limited amounting to Rs. 175.0 million (March 31, 2009: Rs. 202.4 million) and ICICI Prudential Life Insurance
Company Limited amounting to Rs. 203.1 million (March 31, 2009: Rs. 164.0 million).
Secondment of employees
During the year ended March 31, 2010, the Bank received compensation from its subsidiaries amounting to Rs. 24.8 million
(March 31, 2009: Rs. 277.1 million) and from its associates/joint ventures/other related entities amounting to Rs. 36.8 million
(March 31, 2009: Rs. 16.8 million) for secondment of employees. The material transactions were with ICICI Merchant Services
Private Limited amounting to Rs. 22.5 million, ICICI Home Finance Company Limited amounting to Nil (March 31, 2009:
Rs. 217.2 million), ICICI Securities Limited amounting to Rs. 13.0 million (March 31, 2009: Rs. 53.4 million), ICICI West Bengal
Infrastructure Development Corporation Limited amounting to Rs. 9.8 million (March 31, 2009: Rs. 11.5 million) and ICICI
Investment Management Company Limited amounting to Rs. 11.9 million (March 31, 2009: Nil).
Purchase of investments
During the year ended March 31, 2010, the Bank purchased certain investments from its subsidiaries amounting to
Rs. 6,355.0 million (March 31, 2009: Rs. 15,170.3 million). The material transactions for the year ended March 31, 2010 were
with ICICI Securities Primary Dealership Limited amounting to Rs. 5,414.1 million (March 31, 2009: Rs. 6,695.0 million) and
ICICI Prudential Life Insurance Company Limited amounting to Rs. 704.7 million (March 31, 2009: Rs. 7,922.9 million).
During the year ended March 31, 2010, the Bank invested in the equity shares, preference shares and bonds of its subsidiaries
amounting to Rs. 32.1 million (March 31, 2009: Rs. 41,755.0 million) and in its associates/joint ventures/other related entities
amounting to Rs. 765.3 million (March 31, 2009: Nil). The material transactions for the year ended March 31, 2010 were with
ICICI Merchant Services Private Limited amounting to Rs. 755.8 million, ICICI Prudential Life Insurance Company Limited
amounting to Rs. 32.1 million (March 31, 2009: Rs. 8,081.6 million), ICICI Bank UK PLC amounting to Nil (March 31, 2009:
Rs. 4,696.5 million) and ICICI Bank Canada amounting to Nil (March 31, 2009: Rs. 22,188.3 million).
At March 31, 2010 ICICI Bank has applied for equity shares in ICICI Securities Limited, which have not yet been allotted.
The amount of application money is Rs. 1.00 billion.
Sale of investments
During the year ended March 31, 2010, the Bank sold certain investments to its subsidiaries amounting to
Rs. 3,646.0 million (March 31, 2009: Rs. 11,547.9 million). The material transactions were with ICICI Securities Primary
Dealership Limited amounting to Rs. 2,408.8 million (March 31, 2009: Rs. 5,103.5 million), ICICI Prudential Life Insurance
Company Limited amounting to Rs. 1,237.2 million (March 31, 2009: Rs. 4,058.0 million), and with ICICI Bank UK PLC
amounting to Nil (March 31, 2009: Rs. 1,836.0 million).
Investment in bonds and Certificate of Deposits (CDs) issued by ICICI Bank
During the year ended March 31, 2010, subsidiaries have invested in bonds issued by the Bank amounting to
Rs. 650.0 million (March 31, 2009: Nil). The material transactions for the year ended March 31, 2010 were with ICICI Securities
Primary Dealership Limited amounting to Rs. 150.0 million (March 31, 2009: Nil) and with ICICI Prudential Life Insurance
Company Limited amounting to Rs. 500.0 million (March 31, 2009: Nil).
During the year ended March 31, 2010, subsidiaries have invested in certificate of deposits (CDs) issued by the Bank amounting
to Rs. 11,173.9 million (March 31, 2009: Rs. 2,306.8 million). The material transactions for the year ended March 31, 2010
were with ICICI Securities Primary Dealership Limited amounting to Rs. 2,338.6 million (March 31, 2009: Nil) and with
ICICI Prudential Life Insurance Company Limited amounting to Rs. 8,131.2 million (March 31, 2009: Rs. 2,306.8 million).
Redemption/buyback and conversion of investments
During the year ended March 31, 2010, the Bank received a consideration from its subsidiaries amounting to Nil
(March 31, 2009: Rs. 583.5 million) on account of redemption/buyback of equity shares by subsidiaries and from its
associates/joint ventures/other related entities amounting to Rs. 1,379.9 million (March 31, 2009: Rs. 183.5 million) on
account of redemption/buyback/distribution of loss on units/equity shares by associates/joint ventures/other related entities.
schedules
forming part of the Accounts (Contd.)