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7Annual Report 2009-2010
khayaal aapka
Directors’ Report
Your Directors have pleasure in presenting the Sixteenth Annual Report of ICICI Bank Limited with the audited
statement of accounts for the year ended March 31, 2010.
FINANCIAL HIGHLIGHTS
The financial performance for fiscal 2010 is summarised in the following table:
Rs. billion, except percentages Fiscal 2009 Fiscal 2010 % change
Net interest income and other income 159.70 155.92 (2.4)
Operating profit 89.25 97.32 9.0
Provisions & contingencies138.08 43.87 15.2
Profit before tax 51.17 53.45 4.5
Profit after tax 37.58 40.25 7.1
Consolidated profit after tax 35.77 46.70 30.6
1. Excludes provision for taxes.
Appropriations
The profit & loss account shows a profit after tax of Rs. 40.25 billion after provisions and contingencies of
Rs. 43.87 billion and all expenses. The disposable profit is Rs. 68.35 billion, taking into account the balance
of Rs. 28.10 billion brought forward from the previous year. Your Directors have recommended a dividend
at the rate of Rs. 12 per equity share of face value Rs. 10 for the year and have appropriated the disposable
profit as follows:
Rs. billion Fiscal 2009 Fiscal 2010
To Statutory Reserve, making in all Rs. 58.86 billion 9.40 10.07
To Special Reserve created and maintained in terms of Section 36(1) (viii) of
the Income-tax Act, 1961, making in all Rs. 26.44 billion 2.50 3.00
To Capital Reserve, making in all Rs. 20.63 billion 8.18 4.44
To Investment Reserve, making in all Rs. 1.16 billion — 1.16
To General Reserve, making in all Rs. 49.79 billion — 0.01
Dividend for the year (proposed)
– On equity shares @ Rs. 12 per share (@ Rs. 11 per share for fiscal 2009)112.25 13.38
– On preference shares (Rs.) 35,000 35,000
– Corporate dividend tax 1.51 1.64
Leaving balance to be carried forward to the next year228.10 34.64
1. Includes dividend for the prior year paid on shares issued after the balance sheet date and prior to the record date.
2. After taking into account transfer to Reserve Fund Rs. 2.2 million for fiscal 2010, making in all Rs. 10.9 million.