ICICI Bank 2011 Annual Report Download - page 120

F42
Relatives of key management personnel
Ms. Rajalakshmi Kamath1, Mr. Ajay Kamath1, Ms. Ajnya Pai1, Mr. Mohan Kamath1, Mr. Deepak Kochhar, Mr. Arjun
Kochhar, Ms. Aarti Kochhar, Mr. Mahesh Advani, Ms. Varuna Karna, Ms. Sunita R. Advani, Ms. Mona Bakhshi2,
Mr. Sameer Bakhshi2, Ms. Rangarajan Kumudalakshmi3, Ms. Aditi Kannan3, Mr. Narayanan Raghunathan3,
Mr. Narayanan Rangarajan3, Mr. Narayanan Krishnamachari3, Ms. Narayanan Sudha3, Mr. R. Shyam, Ms. R. Suchithra,
Mr. K. Jayakumar, Ms. J. Krishnaswamy, Ms. Sangeeta Sabharwal4, Mr. Somnath Chatterjee5, Mr. Tarak Nath Chatterjee5,
Ms. Sunaina Chatterjee5, Ms. Nandini Chatterjee5, Ms. Jeyashree V.1, Mr. V. Satyamurthy1, Mr. V. Krishnamurthy1, Mr. K. Vembu1.
1. Transactions reported upto April 30, 2009.
2. Transactions reported with effect from May 1, 2009 upto July 31, 2010.
3. Transactions reported with effect from May 1, 2009.
4. Transactions reported with effect from June 24, 2010.
5. Transactions reported upto April 30, 2010.
The following were the significant transactions between the Bank and its related parties for the year ended
March 31, 2011. A specific related party transaction is disclosed as a material related party transaction wherever it
exceeds 10% of all related party transactions in that category.
Insurance services
During the year ended March 31, 2011, the Bank paid insurance premium to insurance subsidiaries amounting to
` 1,529.7 million (March 31, 2010: ` 1,162.5 million). The material transaction for the year ended March 31, 2011 was
payment of insurance premium to ICICI Lombard General Insurance Company Limited amounting to ` 1,380.8 million
(March 31, 2010: ` 1,057.3 million).
During the year ended March 31, 2011, the Bank’s insurance claims from the insurance subsidiaries amounted to ` 945.5
million (March 31, 2010: ` 876.1 million). The material transaction for the year ended March 31, 2011 was with ICICI
Lombard General Insurance Company Limited amounting to ` 906.5 million (March 31, 2010: ` 823.0 million).
Fees and commission income
During the year ended March 31, 2011, the Bank received fees from its subsidiaries amounting to ` 2,809.5 million
(March 31, 2010: ` 3,793.9 million), from its associates/joint ventures/other related entities amounting to ` 0.8 million
(March 31, 2010: ` 5.3 million), from key management personnel amounting to Nil (March 31, 2010: ` 0.2 million) and
from relatives of key management personnel amounting to Nil (March 31, 2010: ` 0.1 million). The material transactions
for the year ended March 31, 2011 were with ICICI Prudential Life Insurance Company Limited amounting to ` 1,969.0
million (March 31, 2010: ` 2,708.9 million), ICICI Lombard General Insurance Company Limited amounting to ` 380.0 million
(March 31, 2010: ` 403.5 million) and with ICICI Securities Limited amounting to ` 358.7 million (March 31, 2010: ` 437.4 million).
During the year ended March 31, 2011, the Bank received commission on bank guarantees from its subsidiaries amounting
to ` 10.3 million (March 31, 2010: ` 8.1 million) and from its associates/joint ventures/other related entities amounting
to Nil (March 31, 2010: ` 15.4 million). The material transactions for the year ended March 31, 2011 were with ICICI Bank
UK PLC amounting to ` 8.6 million (March 31, 2010: ` 0.7 million), ICICI Securities Limited amounting to ` 1.5 million
(March 31, 2010: ` 1.2 million), ICICI Home Finance Company Limited amounting to Nil (March 31, 2010: ` 5.7 million)
and with Firstsource Solutions Limited amounting to Nil (March 31, 2010: ` 15.3 million).
Lease of premises and facilities
During the year ended March 31, 2011, the Bank recovered from its subsidiaries an amount of ` 1,080.2 million
(March 31, 2010: ` 1,324.6 million) and from its associates/joint ventures/other related entities an amount of ` 87.5 million
(March 31, 2010: ` 34.5 million) for lease of premises, facilities and other administrative costs. The material transactions
for the year ended March 31, 2011 were with ICICI Home Finance Company Limited amounting to ` 241.1 million
(March 31, 2010: ` 484.0 million), ICICI Securities Limited amounting to ` 234.5 million (March 31, 2010: ` 231.9 million),
ICICI Prudential Life Insurance Company Limited amounting to ` 208.0 million (March 31, 2010: ` 203.1 million) and with
ICICI Lombard General Insurance Company Limited amounting to ` 178.1 million (March 31, 2010: ` 175.0 million).
Secondment of employees
During the year ended March 31, 2011, the Bank received compensation from its subsidiaries amounting to ` 29.1 million
(March 31, 2010: ` 24.8 million) and from its associates/joint ventures/other related entities amounting to ` 40.0 million
(March 31, 2010: ` 36.8 million) for secondment of employees. The material transactions for the year ended
March 31, 2011 were with ICICI Merchant Services Private Limited amounting to ` 24.4 million (March 31, 2010: ` 22.5 million),
ICICI Investment Management Company Limited amounting to ` 19.5 million (March 31, 2010: ` 11.9 million), ICICI Securities
Limited amounting to ` 12.1 million (March 31, 2010: ` 13.0 million) and with ICICI West Bengal Infrastructure Development
Corporation Limited amounting to ` 7.3 million (March 31, 2010: ` 9.8 million).
forming part of the Accounts (Contd.)
schedules