ICICI Bank 2012 Annual Report Download - page 120

F42
ICICI Venture Funds Management Company Limited, ICICI International Limited, ICICI Trusteeship Services Limited, ICICI
Investment Management Company Limited, ICICI Securities Holdings Inc., ICICI Securities Inc., ICICI Prudential Trust
Limited1 and ICICI Prudential Pension Funds Management Company Limited1.
1. Jointly controlled entities.
Associates/joint ventures/other related entities
ICICI Equity Fund1, ICICI Eco-net Internet and Technology Fund1, ICICI Emerging Sectors Fund1, ICICI Strategic Investments
Fund1, ICICI Kinfra Limited1, ICICI West Bengal Infrastructure Development Corporation Limited1 (upto December 31, 2010),
Financial Inclusion Network & Operations Limited, TCW/ICICI Investment Partners Limited, I-Process Services (India) Private
Limited, I-Solutions Providers (India) Private Limited3 (upto September 30, 2011), NIIT Institute of Finance, Banking and
Insurance Training Limited, ICICI Venture Value Fund1, Comm Trade Services Limited, Prize Petroleum Company Limited (upto
September 30, 2011), ICICI Foundation for Inclusive Growth, I-Ven Biotech Limited1, Rainbow Fund, ICICI Merchant Services
Private Limited, Mewar Aanchalik Gramin Bank2.
1. Entities consolidated as per Accounting Standard (AS) 21 on ‘consolidated financial statements’.
2. With respect to an entity, which has been identified as a related party during the three months ended September 30, 2010,
transactions reported from the three months ended September 30, 2010.
3. I-Solutions Providers (India) Private Limited has been amalgamated with I-Process Services (India) Private Limited during the
three months ended December 31, 2011.
Key management personnel
Ms. Chanda Kochhar, Mr. Sandeep Bakhshi1, Mr. N. S. Kannan, Mr. K. Ramkumar, Mr. Rajiv Sabharwal2, Mr. Sonjoy
Chatterjee3.
Relatives of key management personnel
Mr. Deepak Kochhar, Mr. Arjun Kochhar, Ms. Aarti Kochhar, Mr. Mahesh Advani, Ms. Varuna Karna, Ms. Sunita Advani,
Ms. Mona Bakhshi1, Mr. Sameer Bakhshi1, Ms. Rangarajan Kumudalakshmi, Ms. Aditi Kannan, Mr. Narayanan Raghunathan,
Mr. Narayanan Rangarajan, Mr. Narayanan Krishnamachari, Ms. Narayanan Sudha, Mr. R. Shyam, Ms. R. Suchithra,
Mr. K. Jayakumar, Ms. J. Krishnaswamy, Ms. Sangeeta Sabharwal2, Mr. Sanjiv Sabharwal2, Mr. Somnath Chatterjee3, Mr. Tarak
Nath Chatterjee3, Ms. Sunaina Chatterjee3, Ms. Nandini Chatterjee3.
1. Transactions reported upto July 31, 2010.
2. Transactions reported with effect from June 24, 2010.
3. Transactions reported upto April 30, 2010.
The following were the significant transactions between the Bank and its related parties for the year ended March 31,
2012. A specific related party transaction is disclosed as a material related party transaction wherever it exceeds 10% of
all related party transactions in that category.
Insurance services
During the year ended March 31, 2012, the Bank paid insurance premium to insurance subsidiaries amounting to ` 957.9
million (March 31, 2011: ` 1,529.7 million). The material transactions for the year ended March 31, 2012 were payment of
insurance premium to ICICI Lombard General Insurance Company Limited amounting to ` 775.8 million (March 31, 2011:
` 1,380.8 million) and to ICICI Prudential Life Insurance Company Limited amounting to ` 182.1 million (March 31, 2011:
` 148.9 million).
During the year ended March 31, 2012, the Bank’s insurance claims from the insurance subsidiaries amounted to ` 411.5
million (March 31, 2011: ` 945.5 million). The material transactions for the year ended March 31, 2012 were with ICICI
Lombard General Insurance Company Limited amounting to ` 355.2 million (March 31, 2011: ` 906.5 million) and with
ICICI Prudential Life Insurance Company Limited amounting to ` 56.3 million (March 31, 2011: ` 39.0 million).
Fees and commission income
During the year ended March 31, 2012, the Bank received fees from its subsidiaries amounting to ` 3,841.2 million
(March 31, 2011: ` 2,809.5 million) and from its associates/joint ventures/other related entities amounting to ` 19.9
million (March 31, 2011: ` 0.8 million). The material transactions for the year ended March 31, 2012 were with ICICI
Prudential Life Insurance Company Limited amounting to ` 3,077.0 million (March 31, 2011: ` 1,969.0 million), ICICI
Lombard General Insurance Company Limited amounting to ` 421.0 million (March 31, 2011: ` 380.0 million) and with
ICICI Securities Limited amounting to ` 245.9 million (March 31, 2011: ` 358.7 million).
During the year ended March 31, 2012, the Bank received commission on bank guarantees from its subsidiaries
amounting to ` 32.4 million (March 31, 2011: ` 10.3 million). The material transactions for the year ended March 31,
2012 were with ICICI Bank UK PLC amounting to ` 24.8 million (March 31, 2011: ` 8.6 million), ICICI Bank Eurasia Limited
Liability Company amounting to ` 5.6 million (March 31, 2011: ` 0.1 million) and with ICICI Securities Limited amounting
to ` 1.5 million (March 31, 2011: ` 1.5 million).
forming part of the Accounts (Contd.)
schedules