ICICI Bank 2011 Annual Report Download - page 154

Download and view the complete annual report

Please find page 154 of the 2011 ICICI Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 204

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204

F76
Interest income
During the year ended March 31, 2011, the Group received interest from its associates/other related entities amounting
to ` 7.0 million (March 31, 2010: ` 93.3 million), from its key management personnel amounting to ` 0.4 million
(March 31, 2010: ` 0.5 million) and from relatives of key management personnel amounting to ` 0.7 million (March 31,
2010: ` 1.0 million). The material transactions for the year ended March 31, 2011 were with Financial Inclusion Network
& Operations Limited amounting to ` 7.0 million (March 31, 2010: ` 2.9 million) and with Firstsource Solutions Limited
amounting to Nil (March 31, 2010: ` 90.4 million).
Other income
During the year ended March 31, 2011, the net loss on derivative transactions entered with Firstsource Solutions Limited
was Nil (March 31, 2010: loss of ` 220.9 million).
Dividend paid
During the year ended March 31, 2011, the Bank paid dividend to its key management personnel amounting to
` 4.2 million (March 31, 2010: ` 4.5 million). The dividend paid during the year ended March 31, 2011 to Ms. Chanda
Kochhar was ` 3.2 million (March 31, 2010: ` 3.0 million), to Mr. Sandeep Bakhshi was ` 0.04 million (March 31, 2010:
` 0.03 million), to Mr. N. S. Kannan was ` 1.0 million (March 31, 2010: ` 0.9 million), to Mr. K. Ramkumar was Nil
(March 31, 2010: ` 0.2 million) and to Mr. Sonjoy Chatterjee was Nil (March 31, 2010: ` 0.3 million).
Remuneration to whole-time directors
Remuneration paid to the whole-time directors of the Bank during the year ended March 31, 2011 was ` 79.6 million
(March 31, 2010: ` 119.4 million). The remuneration paid for the year ended March 31, 2010 to Mr. K. V. Kamath was
` 4.1 million. The remuneration paid for the year ended March 31, 2011 to Ms. Chanda Kochhar was ` 25.2 million
(March 31, 2010: ` 17.3 million), to Mr. Sandeep Bakhshi was ` 7.7 million (March 31, 2010: ` 12.6 million), to
Mr. N. S. Kannan was ` 15.8 million (March 31, 2010: ` 10.2 million), to Mr. K. Ramkumar was ` 17.6 million
[March 31, 2010: ` 53.7 million (includes perquisite value of ` 40.6 million on employee stock options (ESOPs) exercised)], to
Mr. Rajiv Sabharwal was ` 9.0 million and to Mr. Sonjoy Chatterjee was ` 4.3 million [March 31, 2010: ` 19.6 million
(includes perquisite value of ` 7.9 million on ESOPs exercised)]. The remuneration paid for the year ended March 31,
2010 to Mr. V. Vaidyanathan was ` 1.9 million.
Sale of fixed assets
During the year ended March 31, 2011, the Group sold fixed assets to its associates/other related entities amounting to
` 2.8 million (March 31, 2010: Nil). The material transaction for the year ended March 31, 2011 was with ICICI Merchant
Services Private Limited amounting to ` 2.8 million (March 31, 2010: Nil).
Donation
During the year ended March 31, 2011, the Group has given donation to ICICI Foundation for Inclusive Growth amounting
to ` 97.0 million (March 31, 2010: ` 236.2 million).
Related party balances
The following table sets forth, for the periods indicated, the balance payable to/receivable from its associates/other
related entities.
Items At
March 31, 2011
At
March 31, 2010
Deposits with the Group ...................................................................................... 1,561.7 300.7
Advances .............................................................................................................. 44.3 42.5
Investments of the Group in related parties ....................................................... 965.2 955.7
Investments of related parties in ICICI Bank ....................................................... 15.0 –
Receivables ........................................................................................................... 187.9 282.2
Payables ................................................................................................................ 139.0 214.8
Guarantees issued by the Group ......................................................................... 0.1 0.1
` in million
forming part of the Consolidated Accounts (Contd.)
schedules