ICICI Bank 2012 Annual Report Download - page 123

F45
Dividend paid
During the year ended March 31, 2012, the Bank paid dividend to its key management personnel amounting to ` 4.5
million (March 31, 2011: ` 4.2 million). The dividend paid during the year ended March 31, 2012 to Ms. Chanda Kochhar
was ` 3.8 million (March 31, 2011: ` 3.2 million) and to Mr. N. S. Kannan was ` 0.7 million (March 31, 2011: ` 1.0 million).
The dividend paid for the year ended March 31, 2011 to Mr. Sandeep Bakhshi was ` 0.04 million.
Remuneration to whole-time directors
Remuneration paid to the whole-time directors of the Bank during the year ended March 31, 2012 was ` 111.3 million
(March 31, 2011: ` 79.6 million). The remuneration paid for the year ended March 31, 2012 to Ms. Chanda Kochhar was `
37.7 million (March 31, 2011: ` 25.2 million), to Mr. K. Ramkumar was ` 25.4 million (March 31, 2011: ` 17.6 million), to Mr.
N. S. Kannan was ` 25.0 million (March 31, 2011: ` 15.8 million) and to Mr. Rajiv Sabharwal was ` 23.2 million (March 31,
2011: ` 9.0 million). The remuneration paid for the year ended March 31, 2011 to Mr. Sandeep Bakhshi was ` 7.7 million and
to Mr. Sonjoy Chatterjee was ` 4.3 million.
Sale of fixed assets
During the year ended March 31, 2012, the Bank sold fixed assets to its subsidiaries amounting to ` 18.4 million (March 31,
2011: ` 0.9 million) and to its associates/joint ventures/other related entities amounting to Nil (March 31, 2011: ` 2.8 million).
The material transactions for the year ended March 31, 2012 were with ICICI Venture Funds Management Company Limited
amounting to ` 14.7 million (March 31, 2011: Nil), ICICI Lombard General Insurance Company Limited amounting to ` 2.7
million (March 31, 2011: Nil), ICICI Securities Limited amounting to ` 1.0 million (March 31, 2011: ` 0.8 million) and with ICICI
Merchant Services Private Limited amounting to Nil (March 31, 2011: ` 2.8 million).
Purchase of fixed assets
During the year ended March 31, 2012, the Bank purchased fixed assets from its subsidiaries amounting to ` 9.4 million
(March 31, 2011: ` 10.9 million). The material transactions for the year ended March 31, 2012 were with ICICI Lombard
General Insurance Company Limited amounting to ` 4.6 million (March 31, 2011: Nil), ICICI Prudential Life Insurance
Company Limited amounting to ` 4.2 million (March 31, 2011: ` 0.1 million) and with ICICI Home Finance Company Limited
amounting to Nil (March 31, 2011: ` 9.9 million).
Sale of gold coins
During the year ended March 31, 2012, the Bank sold gold coins to ICICI Prudential Life Insurance Company Limited
amounting to ` 45.4 million (March 31, 2011: ` 0.9 million).
Donation
During the year ended March 31, 2012, the Bank has given donation to ICICI Foundation for Inclusive Growth amounting
to ` 239.7 million (March 31, 2011: ` 61.0 million).
Purchase of loan
During the year ended March 31, 2012, the Bank has purchased loans from ICICI Bank UK PLC amounting to ` 12,870.5
million (March 31, 2011: ` 688.7 million).
Sale of loan
During the year ended March 31, 2012, the Bank has sold a loan to ICICI Bank UK PLC amounting to ` 2,543.8 million
(March 31, 2011: Nil).
Purchase of bank guarantees
A bank guarantee facility provided by ICICI Bank UK PLC to one of its clients was transferred to the Bank amounting to `
1,279.2 million (March 31, 2011: Nil) during the year ended March 31, 2012.
Letters of Comfort
The Bank has issued letters of comfort on behalf of its banking subsidiaries, ICICI Bank UK PLC and ICICI Bank Canada.
The details of the letters are given below.
On behalf of To Purpose
ICICI Bank UK PLC Financial Services
Authority, UK (FSA)
Financially support ICICI Bank UK PLC to ensure that it
meets all of its obligations as they fall due.
ICICI Bank Canada Canada Deposit
Insurance
Corporation (CDIC)
To comply with the Bank Act and the CDIC regulations
or by-laws there under and to indemnify CDIC against
all losses, damages, reasonable costs and expenses
arising from failure of ICICI Bank Canada in performing
the same.
The Bank has issued an undertaking on behalf of ICICI Securities Inc. for Singapore dollar 10.0 million (currently equivalent
to ` 404.8 million) to the Monetary Authority of Singapore (MAS) and has executed indemnity agreement on behalf of
forming part of the Accounts (Contd.)
schedules