ICICI Bank 2011 Annual Report Download - page 9
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Directors’ Report
Your Directors have pleasure in presenting the Seventeenth Annual Report of ICICI Bank Limited with the
audited statement of accounts for the year ended March 31, 2011.
FINANCIAL HIGHLIGHTS
The financial performance for fiscal 2011 is summarised in the following table:
Appropriations
The profit after tax of the Bank for fiscal 2011 is ` 51.51 billion after provisions and contingencies (excluding
provision for taxes) of ` 22.87 billion and all expenses. The disposable profit is ` 86.15 billion, taking
into account the balance of ` 34.64 billion brought forward from the previous year. Your Directors have
recommended a dividend at the rate of ` 14 per equity share of face value ` 10 for the year and have
appropriated the disposable profit as follows:
1. Excludes provision for taxes.
` billion, except percentages Fiscal 2010 Fiscal 2011 % change
Net interest income and other income 155.92 156.65 0.5%
Provisions & contingencies143.87 22.87 (47.9)%
Profit before tax 53.45 67.61 26.5%
Profit after tax of the Bank 40.25 51.51 28.0%
` billion, except percentages Fiscal 2010 Fiscal 2011 % change
Consolidated profit after tax 46.70 60.93 30.5%
1. Includes ` 2.00 billion on amalgamation of The Bank of Rajasthan Limited with ICICI Bank Limited.
2. Includes dividend for the prior year paid on shares issued after the balance sheet date and prior to the record date.
3. After taking into account transfer to Reserve Fund ` 0.4 million for fiscal 2011, making in all ` 11.3 million.
` billion Fiscal 2010 Fiscal 2011
To Statutory Reserve, making in all ` 73.75 billion110.07 12.88
To Special Reserve created and maintained in terms of Section 36(1) (viii) of
the Income-tax Act, 1961, making in all ` 31.69 billion
3.00 5.25
To Capital Reserve, making in all ` 21.46 billion 4.44 0.83
To/(from) Investment Reserve, making in all Nil 1.16 (1.16)
To General Reserve, making in all ` 49.80 billion 0.01 --
Dividend for the year (proposed)
– On equity shares @ ` 14 per share (@ ` 12 per share for fiscal 2010)213.38 16.15
– On preference shares (`) 35,000 35,000
– Corporate dividend tax 1.64 2.02
Leaving balance to be carried forward to the next year334.64 50.18
Annual Report 2010-2011 7