ICICI Bank 2011 Annual Report Download - page 153

F75
Insurance services
During the year ended March 31, 2011, the Group received insurance premium from associates/other related entities amounting
to ` 9.5 million (March 31, 2010: ` 52.5 million), from key management personnel amounting to ` 0.2 million (March 31, 2010:
` 0.1 million) and from relatives of key management personnel amounting to ` 0.1 million (March 31, 2010: ` 0.3 million).
The material transactions for the year ended March 31, 2011 were with Financial Inclusion Network & Operations Limited
amounting to ` 7.7 million (March 31, 2010: ` 3.7 million) and with Firstsource Solutions Limited amounting to Nil (March 31,
2010: ` 46.7 million).
During the year ended March 31, 2011, the Group paid insurance claims to its associates/other related entities amounting to
` 0.7 million (March 31, 2010: ` 10.5 million), to the key management personnel of the Bank amounting to Nil (March 31, 2010:
` 0.3 million) and to 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 Financial Inclusion Network & Operations Limited amounting to
` 0.6 million (March 31, 2010: ` 1.3 million), with I-Process Services (India) Private Limited amounting to ` 0.1 million (March 31,
2010: ` 1.0 million) and with Firstsource Solutions Limited amounting to Nil (March 31, 2010: ` 8.2 million).
Fees and commission income
During the year ended March 31, 2011, the Group received fees from its associates/other related entities amounting to ` 0.9
million (March 31, 2010: ` 3.0 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 NIIT Institute of Finance Banking and Insurance Training Limited amounting to ` 0.8
million (March 31, 2010: ` 0.4 million), with Firstsource Solutions Limited amounting to Nil (March 31, 2010: ` 2.2 million) and
with Rainbow Fund amounting to ` 0.1 million (March 31, 2010: ` 0.4 million).
During the year ended March 31, 2011, the Group received commission on bank guarantee from its associates/other related
entities amounting to Nil (March 31, 2010: ` 15.4 million). The material transaction for the year ended March 31, 2011 was 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 Group recovered from its associates/other related entities amounting to ` 86.6
million (March 31, 2010: ` 52.8 million) for lease of premises, facilities and other administrative costs. The material transactions
for the year ended March 31, 2011 were with ICICI Merchant Services Private Limited amounting to ` 86.6 million (March 31,
2010: ` 32.0 million) and with Firstsource Solutions Limited amounting to Nil (March 31, 2010: ` 19.7 million).
Secondment of employees
During the year ended March 31, 2011, the Group received compensation from its associates/other related entities amounting
to ` 32.7 million (March 31, 2010: ` 27.0 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)
and with I-Process Services (India) Private Limited amounting to ` 3.8 million (March 31, 2010: ` 3.0 million).
Brokerage and fee expenses
During the year ended March 31, 2011, the Group paid fees to its associates/other related entities amounting to ` 1,987.2 million
(March 31, 2010: ` 1,414.4 million). The material transactions for the year ended March 31, 2011 were with Financial Inclusion
Network & Operations Limited amounting to ` 922.1 million (March 31, 2010: ` 345.5 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), and with Firstsource Solutions Limited amounting to Nil (March 31, 2010:
` 215.1 million).
Purchase of investments
During the year ended March 31, 2011, the Group invested in equity capital and in bonds of its associates/other related entities
amounting to Nil (March 31, 2010: ` 765.3 million). The material transaction for the year ended March 31, 2011 was investment
in ICICI Merchant Services Private Limited amounting to Nil (March 31, 2010: ` 755.8 million).
Interest expenses
During the year ended March 31, 2011, the Group paid interest to its associates/other related entities amounting to ` 79.5
million (March 31, 2010: ` 0.3 million), to its key management personnel amounting to ` 1.5 million (March 31, 2010:
` 2.5 million) and to relatives of key management personnel amounting to ` 0.7 million (March 31, 2010: ` 1.2 million).
The material transactions for the year ended March 31, 2011 were with Mewar Aanchalik Gramin Bank amounting to
` 69.7 million (March 31, 2010: Nil), with Mr. K. Ramkumar amounting to ` 0.9 million (March 31, 2010: ` 1.7 million), with
Firstsource Solutions Limited amounting to Nil (March 31, 2010: ` 0.1 million) and with Comm Trade Services Limited
amounting to ` 0.5 million (March 31, 2010: ` 0.2 million).
forming part of the Consolidated Accounts (Contd.)
schedules