ICICI Bank 2011 Annual Report Download - page 173

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F95
The upper Tier-2 bonds are cumulative and have an original maturity of 15 years with call option after 10 years.
The interest on upper Tier-2 bonds is payable either annually or semi-annually. Some of the upper Tier-2 debt
instruments have a step-up clause on interest payment ranging up to 100 basis points.
The lower Tier-2 bonds (subordinated debt) are cumulative and have an original maturity between 5 to 15 years.
The interest on lower Tier-2 capital instruments is payable quarterly, semi-annually or annually.
RBI vide its circular dated January 20, 2011 stipulated that henceforth capital instruments issued with step-up
option will not be eligible for inclusion in the capital funds. Capital issuances with step-up option prior to the
release of the above-mentioned circular would continue to remain eligible for inclusion in regulatory capital. The
Bank is in compliance with this stipulation and the existing Tier-1 and Tier-2 capital instruments with step-up option
have all been issued prior to January 20, 2011.
b. Amount of Tier-1 capital (March 31, 2011)
` in billion
Tier-1 capital elements Amount
Paid-up share capital112.74
Reserves2540.94
Innovative Tier-1 capital instruments 28.12
Minority interest 0.66
Gross Tier-1 capital 582.46
Deductions:
Investments in instruments eligible for regulatory capital of financial
subsidiaries/associates
24.73
Securitisation exposures including credit enhancements 23.59
Deferred tax assets 27.68
Others32.02
Minority interest not eligible for inclusion in Tier-1 capital 0.18
Net Tier-1 capital 504.25
1. Includes preference shares permitted by RBI for inclusion in Tier-1 capital.
2. Includes statutory reserves, disclosed free reserves, capital reserves and special reserves (net of tax payable).
3. Includes goodwill and adjustments for less liquid positions.
c. Amount of Tier-2 capital (March 31, 2011)
` in billion
Tier-2 capital elements Amount
General provisions 17.87
Upper Tier-2 capital instruments 142.04
Lower Tier-2 capital instruments 173.79
Gross Tier-2 capital 333.70
Deductions:
Investments in instruments eligible for regulatory capital of financial
subsidiaries/associates
24.73
Securitisation exposures including credit enhancements 23.59
Net Tier-2 capital 285.38
BASEL II – PILLAR 3 DISCLOSURES (CONSOLIDATED)
at March 31, 2011