ICICI Bank 2012 Annual Report Download - page 48

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ICICI Prudential Asset Management Company (ICICI AMC)
ICICI AMC is the third largest asset management company in India with average mutual fund assets
under management of ` 687.18 billion for the quarter ended March 31, 2012. ICICI Prudential AMC
achieved a profit after tax of ` 0.88 billion in fiscal 2012 compared to ` 0.72 billion in fiscal 2011.
ICICI Venture Funds Management Company (ICICI Venture)
In fiscal 2012, ICICI Venture continued to focus on investment and advisory opportunities in the Indian
market, including in infrastructure, real estate and special situations. ICICI Venture achieved a profit
after tax of ` 0.68 billion in fiscal 2012 compared to ` 0.74 billion in fiscal 2011.
ICICI Securities (I-Sec)
Market conditions in fiscal 2012 impacted business volumes in corporate finance and broking. I-Sec
continued to focus on strengthening its capabilities across segments and maintained its market
leadership in the corporate finance as well as the retail broking businesses. The company achieved a
profit of ` 0.77 billion in fiscal 2012 compared to ` 1.13 billion in fiscal 2011.
ICICI Securities Primary Dealership (I-Sec PD)
I-Sec PD’s corporate debt placement volumes rose by over 30% with total deals crossing ` 830.00
billion and it continued to maintain its position as the only non-bank entity in the top three in the PRIME
league tables. I-Sec PD was appointed as one of the discretionary fund managers for managing the
funds belonging to the Employees Provident Fund Organisation under the Ministry of Labour for a
period of three years. Despite a challenging market environment, I-Sec PD achieved a profit after tax of
` 0.86 billion in fiscal 2012 compared to ` 0.53 billion in fiscal 2011.
ICICI Bank UK plc (ICICI Bank UK)
ICICI Bank UK’s profit after tax for fiscal 2012 was US$ 25.4 million compared to US$ 36.6 million in
fiscal 2011. At March 31, 2012, ICICI Bank UK plc had total assets of US$ 4.1 billion compared to US$
6.4 billion at March 31, 2011. Its capital position was strong with a capital adequacy ratio of 32.4% at
March 31, 2012 compared to 23.1% at March 31, 2011.
ICICI Bank Canada
ICICI Bank Canada’s profit after tax for fiscal 2012 was CAD 34.4 million compared to CAD 32.4 million
in fiscal 2011. At March 31, 2012, ICICI Bank Canada had total assets of CAD 5.2 billion compared to
CAD 4.5 billion at March 31, 2011. ICICI Bank Canada had a capital adequacy ratio of 31.7% at March
31, 2012 compared to 26.3% at March 31, 2011.
KEY RISKS
We have included statements in this annual report which contain words or phrases such as “will”,
“would”, “aim”, “aimed”, “will likely result”, “is likely”, “are likely”, “believe”, “expect”, “expected to”,
“will continue”, “will achieve”, “anticipate”, “estimate”, “estimating”, “intend”, “plan”, “contemplate”,
“seek to”, “seeking to”, “trying to”, “target”, “propose to”, “future”, “objective”, “goal”, “project”,
“should”, “can”, “could”, “may”, “will pursue” and similar expressions or variations of such expressions,
that may constitute “forward-looking statements”. These forward-looking statements involve a number
of risks, uncertainties and other factors that could cause actual results, opportunities and growth
potential to differ materially from those suggested by the forward-looking statements. These risks and
uncertainties include, but are not limited to, the actual growth in demand for banking and other financial
products and services in the countries where we operate or where a material number of our customers
reside; our ability to successfully implement our strategy, including our retail deposit growth strategy;
our use of the internet and other technology; our rural expansion and ability to meet priority sector
lending requirements; our exploration of merger and acquisition opportunities; our ability to integrate
recent or future mergers or acquisitions into our operations and manage the risks associated with
such acquisitions to achieve our strategic and financial objectives; our ability to manage the increased
complexity of the risks we face following our international expansion; future levels of non-performing
and restructured loans; our growth and expansion in domestic and overseas markets; the adequacy of
Business Overview