ICICI Bank 2011 Annual Report Download - page 121

F43
Purchase of investments
During the year ended March 31, 2011, the Bank purchased certain investments from its subsidiaries amounting to
` 4,200.0 million (March 31, 2010: ` 6,355.0 million). The material transactions for the year ended March 31, 2011 were
with ICICI Securities Primary Dealership Limited amounting to ` 2,109.6 million (March 31, 2010: ` 5,414.1 million) and
with ICICI Prudential Life Insurance Company Limited amounting to ` 1,991.4 million (March 31, 2010: ` 704.7 million).
During the year ended March 31, 2011, the Bank invested in the equity shares, preference shares and bonds of its
subsidiaries amounting to ` 2,516.0 million (March 31, 2010: ` 32.1 million) and in its associates/joint ventures/other
related entities amounting to Nil (March 31, 2010: ` 765.3 million). The material transactions for the year ended
March 31, 2011 were with ICICI Lombard General Insurance Company Limited amounting to ` 2,516.0 million
(March 31, 2010: Nil) and with ICICI Merchant Services Private Limited amounting to Nil (March 31, 2010: ` 755.8 million).
At March 31, 2010, ICICI Bank had applied for equity shares in ICICI Securities Limited, which were allotted during the
year ended March 31, 2011. The amount of application money was ` 1,000.0 million.
Sale of investments
During the year ended March 31, 2011, the Bank sold certain investments to its subsidiaries amounting to ` 12,013.8
million (March 31, 2010: ` 3,646.0 million). The material transactions for the year ended March 31, 2011 were with ICICI
Securities Primary Dealership Limited amounting to ` 8,528.8 million (March 31, 2010: ` 2,408.8 million) and with ICICI
Prudential Life Insurance Company Limited amounting to ` 3,074.9 million (March 31, 2010: ` 1,237.2 million).
Investment in bonds and Certificate of Deposits (CDs) issued by ICICI Bank
During the year ended March 31, 2011, subsidiaries have invested in bonds issued by the Bank amounting to Nil
(March 31, 2010: ` 650.0 million). The material transactions for the year ended March 31, 2011 were with ICICI Securities
Primary Dealership Limited amounting to Nil (March 31, 2010: ` 150.0 million) and with ICICI Prudential Life Insurance
Company Limited amounting to Nil (March 31, 2010: ` 500.0 million).
During the year ended March 31, 2011, subsidiaries have invested in CDs issued by the Bank amounting to ` 4,820.9
million (March 31, 2010: ` 11,173.9 million). The material transactions for the year ended March 31, 2011 were with ICICI
Prudential Life Insurance Company Limited amounting to ` 4,365.4 million (March 31, 2010: ` 8,131.2 million) and with
ICICI Securities Primary Dealership Limited amounting to Nil (March 31, 2010: ` 2,338.6 million).
Redemption/buyback and conversion of investments
During the year ended March 31, 2011, the Bank received a consideration from its associates/joint ventures/other related
entities amounting to ` 1,929.3 million (March 31, 2010: ` 1,379.9 million) on account of redemption/buyback/ distribution
of loss on units/equity shares by associates/joint ventures/other related entities. The material transactions for the year ended
March 31, 2011 were with ICICI Emerging Sectors Fund amounting to ` 389.2 million (March 31, 2010: ` 846.4 million), ICICI
Equity Fund amounting to ` 1,336.9 million (March 31, 2010: Nil) and with ICICI Eco-net Internet and Technology Fund
amounting to ` 203.2 million (March 31, 2010: ` 533.5 million).
Reimbursement of expenses to subsidiaries
During the year ended March 31, 2011, the Bank reimbursed expenses to its subsidiaries amounting to ` 31.7 million
(March 31, 2010: ` 51.9 million). The material transactions for the year ended March 31, 2011 were with ICICI Bank UK
PLC amounting to ` 31.4 million (March 31, 2010: ` 40.2 million) and with ICICI Bank Canada amounting to ` 0.3 million
(March 31, 2010: ` 11.7 million).
Reimbursement of expenses to the Bank
During the year ended March 31, 2011, subsidiaries reimbursed expenses to the Bank amounting to ` 45.5 million
(March 31, 2010: ` 169.3 million). The material transactions for the year ended March 31, 2011 were with ICICI Bank UK
PLC amounting to ` 40.3 million (March 31, 2010: ` 160.1 million) and with ICICI Bank Canada amounting to ` 5.2 million
(March 31, 2010: ` 9.2 million).
Brokerage and fee expenses
During the year ended March 31, 2011, the Bank paid brokerage/fees to its subsidiaries amounting to ` 658.7 million
(March 31, 2010: ` 825.3 million) and to its associates/joint ventures/other related entities amounting to ` 1,405.4 million
(March 31, 2010: ` 1,346.2 million). The material transactions for the year ended March 31, 2011 were with ICICI Home
Finance Company Limited amounting to ` 408.3 million (March 31, 2010: ` 608.2 million), ICICI Merchant Services Private
Limited amounting to ` 664.4 million (March 31, 2010: ` 169.6 million), I-Process Services (India) Private Limited amounting to
` 392.9 million (March 31, 2010: ` 686.1 million), Financial Inclusion Network & Operations Limited amounting to ` 340.3
million (March 31, 2010: ` 20.4 million), ICICI Securities Limited amounting to ` 207.3 million (March 31, 2010: ` 60.0
million) and with Loyalty Solutions & Research Limited amounting to Nil (March 31, 2010: ` 407.0 million).
forming part of the Accounts (Contd.)
schedules