ICICI Bank 2012 Annual Report Download - page 124

F46
ICICI Bank Canada to its independent directors for a sum not exceeding Canadian Dollar 2.5 million (currently equivalent
to ` 127.6 million) each, aggregating to Canadian Dollar 10 million (currently equivalent to ` 510.4 million). The aggregate
amount of ` 915.2 million is included in the contingent liabilities.
As per the assessment done, there is no likely financial impact of the above letters issued to overseas regulators or of
the indemnity agreements at March 31, 2012.
In addition to the above, the Bank has also issued letters of comfort in the nature of letters of awareness on behalf
of banking and non-banking subsidiaries in respect of their borrowings made or proposed to be made and for other
incidental business purposes. As they are in the nature of factual statements or confirmation of facts, they do not create
any financial impact on the Bank.
The letters of comfort in the nature of letters of awareness that are outstanding at March 31, 2012 issued by the Bank
on behalf of its subsidiaries, aggregate to ` 24,238.9 million (March 31, 2011: ` 40,240.9 million). During the year ended
March 31, 2012, borrowings pertaining to letters of comfort aggregating ` 13,640.3 million were repaid and a letter was
withdrawn pertaining to facilities amounting to ` 2,675.7 million.
As advised by RBI, the Bank has provided additional capital of ` 1,033.5 million (March 31, 2011: ` 1,700.5 million) on
the letters of comfort that are in the nature of letters of awareness issued on behalf of its subsidiaries for their borrowing
programmes.
Related party balances
The following table sets forth, the balance payable to/receivable from subsidiaries/joint ventures/associates/other related
entities/key management personnel and relatives of key management personnel at March 31, 2012.
` in million
Items/Related party Subsidiaries
Associates/ joint
ventures/other
related entities
Key
Management
Personnel
Relatives of Key
Management
Personnel
Total
Deposits with ICICI Bank ........ 11,536.6 2,089.8 41.0 19.8 13,687.2
Deposits of ICICI Bank ........... 717.9 — — — 717.9
Call/term money lent .............. 4,568.7 — — — 4,568.7
Call/term money borrowed .... — — — — —
Advances ................................ 18,766.7 1,004.8 9.2 7.4 19,788.1
Investments of ICICI Bank ...... 136,699.1 3,484.7 — — 140,183.8
Investments of related parties
in ICICI Bank ............................ 310.3 15.0 4.1 — 329.4
Receivables1 ............................ 637.0 0.2 — — 637.2
Payables1 ................................. 27.3 202.8 — — 230.1
Guarantees/letter of credit ..... 13,546.8 0.1 — — 13,546.9
Swaps/forward contracts
(notional amount) ................... 168,433.0 — — — 168,433.0
Employee stock options
outstanding (Numbers) .......... — — 2,701,500 — 2,701,500
Employee stock options
exercised2 — — 0.9 — 0.9
1. Excludes mark-to-market on outstanding derivative transactions.
2. During the year ended March 31, 2012, 86,500 employee stock options were exercised, which have been reported at face value.
forming part of the Accounts (Contd.)
schedules