ICICI Bank 2010 Annual Report Download - page 116

F36
Particulars Year ended
March 31, 2010 Year ended March 31, 2009
(iv) Movement of provisions for NPAs
(excluding provision on standard assets)
a) Opening balance3 ................................................................................. 50,953.7 39,432.7
b) Provisions made during the year4 ........................................................ 41,809.2 35,615.4
c) Write-off/write-back of excess provisions ........................................... (36,367.5) (24,094.4)
d) Closing balance3 ................................................................................... 56,395.4 50,953.7
1. Includes cases added to and deleted from NPAs during the year ended March 31, 2010, with such gross loans amounting to
Rs. 1,060.2 million (March 31, 2009: Rs. 4,713.0 million) and such net loans amounting to Rs. 936.5 million (March 31, 2009:
Rs. 4,066.8 million).
2. The difference between the opening and closing balances (other than accounts written off during the year) of NPAs in retail loans is
included in additions during the year.
3. Net of write-off.
4. The difference between the opening and closing balances (adjusted for write-off and sale of NPAs during the year) of provisions in
retail loans is included in provisions made during the year.
21. Unsecured advances against intangible assets
The Bank has made advances against intangible collaterals of the borrowers which are classified as ‘unsecured’ in its
financial statements. At March 31, 2010, the amount of such advances was Nil and the estimated value of the intangible
collaterals was Nil.
22. Financial assets transferred during the year to securitisation company (SC)/reconstruction company (RC)
The Bank has transferred certain assets to Asset Reconstruction Companies (ARCs) in terms of the guidelines issued by
RBI governing such transfer. For the purpose of the valuation of the underlying security receipts issued by the underlying
trusts managed by ARCs, the security receipts are valued at their respective NAVs as advised by the ARCs.
The following table sets forth, for the periods indicated, the details of the assets transferred.
Rupees in million, except number of accounts
Year ended
March 31, 2010 Year ended March 31, 2009
Number of accounts ........................................................................................... 55,160118,429
Aggregate value (net of provisions) of accounts sold to SC/RC ........................ 7,617.9 6,810.7
Aggregate consideration ..................................................................................... 7,866.7 6,737.9
Additional consideration realised in respect of accounts transferred
in earlier years2 .................................................................................................... ——
Aggregate gain/(loss) over net book value ......................................................... 248.8 (72.8)
1. Excludes accounts previously written-off.
2. During the year ended March 31, 2010, Asset Reconstruction Company (India) Limited (ARCIL) fully redeemed security receipts of three
trusts. The Bank realised Rs. 89.8 million over the gross book value in respect of these trusts (March 31, 2009: Rs. 27.6 million).
23. Provision on standard assets
The Bank makes provision on standard assets as per RBI guidelines. The Bank has adopted the revised rates for
making provision on standard assets during the year ended March 31, 2010, in accordance with RBI circular no. DBOD.
BP.BC.58/21.04.048/2009-10 dated November 5, 2009.
The Bank has not written back any standard asset provision pursuant to the RBI circular no. DBOD
BP.BC.83/21.01.002/2008-09 dated November 15, 2008. The provision on standard assets held by the Bank at
March 31, 2010 was Rs. 14,360.6 million (March 31, 2009: Rs. 14,360.6 million).
schedules
forming part of the Accounts (Contd.)