ICICI Bank 2012 Annual Report Download - page 122

F44
Brokerage, fees and other expenses
During the year ended March 31, 2012, the Bank paid brokerage, fees and other expenses to its subsidiaries amounting
to ` 491.5 million (March 31, 2011: ` 658.7 million) and to its associates/joint ventures/other related entities amounting to
` 1,832.5 million (March 31, 2011: ` 1,405.4 million). The material transactions for the year ended March 31, 2012 were
with ICICI Merchant Services Private Limited amounting to ` 953.9 million (March 31, 2011: ` 664.4 million), I-Process
Services (India) Private Limited amounting to ` 606.5 million (March 31, 2011: ` 392.9 million), ICICI Home Finance
Company Limited amounting to ` 349.8 million (March 31, 2011: ` 408.3 million), Financial Inclusion Network & Operations
Limited amounting to ` 259.0 million (March 31, 2011: ` 340.3 million) and with ICICI Securities Limited amounting to
` 116.1 million (March 31, 2011: ` 207.3 million).
Income on custodial services
During the year ended March 31, 2012, the Bank recovered custodial charges from its subsidiaries amounting to
` 3.5 million (March 31, 2011: ` 1.6 million) and from its associates/joint ventures/other related entities amounting to
` 1.4 million (March 31, 2011: ` 2.6 million). The material transactions for the year ended March 31, 2012 were with
ICICI Securities Primary Dealership Limited amounting to ` 3.3 million (March 31, 2011: ` 1.6 million), ICICI Strategic
Investments Fund amounting to ` 0.6 million (March 31, 2011: ` 0.9 million), ICICI Equity Fund amounting to ` 0.4
million (March 31, 2011: ` 0.5 million) and with ICICI Emerging Sectors Fund amounting to ` 0.2 million (March 31,
2011: ` 0.9 million).
Interest expenses
During the year ended March 31, 2012, the Bank paid interest to its subsidiaries amounting to ` 336.4 million (March 31,
2011: ` 560.7 million), to its associates/joint ventures/other related entities amounting to ` 160.5 million (March 31, 2011:
` 79.7 million), to its key management personnel amounting to ` 2.0 million (March 31, 2011: ` 1.5 million) and to relatives
of key management personnel amounting to ` 1.1 million (March 31, 2011: ` 0.7 million). The material transactions for
the year ended March 31, 2012 were with ICICI Prudential Life Insurance Company Limited amounting to ` 129.1 million
(March 31, 2011: ` 272.5 million), Mewar Aanchalik Gramin Bank amounting to ` 128.9 million (March 31, 2011: ` 69.7
million) and with ICICI Securities Limited amounting to ` 111.6 million (March 31, 2011: ` 157.2 million).
Interest income
During the year ended March 31, 2012, the Bank received interest from its subsidiaries amounting to ` 1,686.8 million
(March 31, 2011: ` 1,579.1 million), from its associates/joint ventures/other related entities amounting to ` 49.1 million
(March 31, 2011: ` 4.8 million), from its key management personnel amounting to ` 0.5 million (March 31, 2011: ` 0.4
million) and from relatives of key management personnel amounting to ` 0.7 million (March 31, 2011: ` 0.7 million). The
material transactions for the year ended March 31, 2012 were with ICICI Home Finance Company Limited amounting to
` 1,181.4 million (March 31, 2011: ` 1,127.7 million) and with ICICI Bank Eurasia Limited Liability Company amounting to
` 210.9 million (March 31, 2011: ` 166.4 million).
Other income
The Bank undertakes derivative transactions with its subsidiaries, associates, joint ventures and other related entities.
The Bank manages its foreign exchange and interest rate risks arising from these transactions by covering them in the
market. During the year ended March 31, 2012, the net loss of the Bank on forex and derivative transactions entered with
subsidiaries was ` 337.3 million (March 31, 2011: loss of ` 121.9 million). The material transactions for the year ended
March 31, 2012 were loss of ` 620.0 million (March 31, 2011: loss of ` 167.5 million) with ICICI Bank UK PLC, gain of
` 352.9 million (March 31, 2011: loss of ` 13.9 million) with ICICI Bank Canada, loss of ` 242.2 million (March 31, 2011:
gain of ` 371.7 million) with ICICI Securities Primary Dealership Limited, gain of ` 168.4 million (March 31, 2011: loss
of ` 64.1 million) with ICICI Home Finance Company Limited and gain of ` 3.6 million (March 31, 2011: loss of ` 248.1
million) with ICICI Bank Eurasia Limited Liability Company. While the Bank within its overall position limits covers these
transactions in the market, the above amounts represent only the transactions with its subsidiaries, associates, joint
ventures and other related entities and not the offsetting/covering transactions.
Dividend income
During the year ended March 31, 2012, the Bank received dividend from its subsidiaries amounting to ` 7,364.1 million
(March 31, 2011: ` 4,113.5 million). The material transactions for the year ended March 31, 2012 were with ICICI Prudential
Life Insurance Company Limited amounting to ` 2,321.7 million (March 31, 2011: Nil), ICICI Home Finance Company
Limited amounting to ` 1,714.1 million (March 31, 2011: ` 1,499.8 million), ICICI Bank UK PLC amounting to ` 1,216.9
million (March 31, 2011: ` 185.1 million), ICICI Securities Limited amounting to ` 520.1 million (March 31, 2011: ` 810.0
million), ICICI Venture Funds Management Company Limited amounting to ` 150.0 million (March 31, 2011: ` 450.0
million) and with ICICI Lombard General Insurance Company Limited amounting to Nil (March 31, 2011: ` 416.6 million).
forming part of the Accounts (Contd.)
schedules