ICICI Bank 2012 Annual Report Download - page 153

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F75
forming part of the Consolidated Accounts (Contd.)
schedules
The following were the significant transactions between the Group 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 Group received insurance premium from associates/other related entities
amounting to ` 17.8 million (March 31, 2011: ` 9.5 million), from key management personnel of the Bank amounting to
` 1.1 million (March 31, 2011: ` 0.2 million) and from relatives of key management personnel amounting to ` 0.1 million
(March 31, 2011: ` 0.1 million). The material transactions for the year ended March 31, 2012 was with Financial Inclusion
Network & Operations Limited amounting to ` 15.1 million (March 31, 2011: ` 7.7 million).
During the year ended March 31, 2012, the Group paid insurance claims to its associates/other related entities
amounting to ` 0.4 million (March 31, 2011: ` 0.7 million). The material transactions for the year ended March 31, 2012
were with I-Process Services (India) Private Limited amounting to ` 0.4 million (March 31, 2011: ` 0.1 million) and with
Financial Inclusion Network & Operations Limited amounting to Nil (March 31, 2011: ` 0.6 million).
Fees, commission and other income
During the year ended March 31, 2012, the Group received fees from its associates/other related entities amounting to
` 21.8 million (March 31, 2011: ` 0.9 million) and from key management personnel of the Bank amounting to
` 0.3 million (March 31, 2011: Nil) and from relatives of key management personnel amounting to Nil (March 31,
2011: Nil). The material transactions for the year ended March 31, 2012 were with ICICI Merchant Services Private Limited
amounting to ` 18.7 million (March 31, 2011: Nil), NIIT Institute of Finance Banking and Insurance Training Limited
amounting to ` 1.1 million (March 31, 2011: ` 0.8 million) and with Rainbow Fund amounting to Nil (March 31, 2011:
` 0.1 million).
Lease of premises, common corporate and facilities expenses
During the year ended March 31, 2012, the Group recovered from its associates/other related entities an amount of
` 38.4 million (March 31, 2011: ` 86.6 million) for lease of premises, common corporate and facilities expenses. The
material transaction for the year ended March 31, 2012 was with ICICI Merchant Services Private Limited amounting to
` 38.4 million (March 31, 2011: ` 86.6 million).
Secondment of employees
During the year ended March 31, 2012, the Group recovered towards deputation of employees from its associates/
other related entities an amount of ` 7.0 million (March 31, 2011: ` 32.7 million). The material transactions for the year
ended March 31, 2012 were with I-Process Services (India) Private Limited amounting to ` 7.0 million (March 31, 2011:
` 3.8 million) and with ICICI Merchant Services Private Limited amounting to Nil (March 31, 2011: ` 24.4 million)
Brokerage, fees and other expenses
During the year ended March 31, 2012, the Group paid brokerage/fees and other expenses to its associates/other
related entities amounting to ` 2,551.8 million (March 31, 2011: ` 1,987.2 million). The material transactions for the year
ended March 31, 2012 were with Financial Inclusion Network & Operations Limited amounting to ` 978.3 million (March
31, 2011: ` 922.1 million), ICICI Merchant Services Private Limited amounting to ` 953.9 million (March 31, 2011:
` 664.4 million) and with I-Process Services (India) Private Limited amounting to ` 606.5 million (March 31, 2011:
` 392.9 million).
Purchase of investments
During the year ended March 31, 2012, the Group invested in equity warrants of Financial Inclusion Network &
Operations Limited amounting to ` 40.0 million (March 31, 2011: Nil).
Sale of investments
During the year ended March 31, 2012, the Group sold certain investments to its associates/other related entities
amounting to ` 48.7 million (March 31, 2011: Nil). The material transaction for the year ended March 31, 2012 was with
Mewar Aanchalik Gramin Bank amounting to ` 48.7 million (March 31, 2011: Nil).
Interest expenses
During the year ended March 31, 2012, the Group paid interest to its associates/other related entities amounting to
` 156.6 million (March 31, 2011: ` 79.5 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 Mewar Aanchalik Gramin
Bank amounting to ` 128.9 million (March 31, 2011: ` 69.7 million) and with ICICI Merchant Services Private Limited
amounting to ` 17.0 million (March 31, 2011: ` 3.2 million).