ICICI Bank 2012 Annual Report Download - page 9
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Directors’ Report
Your Directors have pleasure in presenting the Eighteenth Annual Report of ICICI Bank Limited along
with the audited statement of accounts for the year ended March 31, 2012.
FINANCIAL HIGHLIGHTS
The financial performance for fiscal 2012 is summarised in the following table:
` billion, except percentages Fiscal 2011 Fiscal 2012 % change
Net interest income and other income 156.65 182.36 16.4%
Provisions & contingencies122.87 15.83 (30.8)%
Profit before tax 67.61 88.03 30.2%
Profit after tax 51.51 64.65 25.5%
1. Excludes provision for taxes.
` billion, except percentages Fiscal 2011 Fiscal 2012 % change
Consolidated profit after tax 60.93 76.43 25.4%
Appropriations
The profit after tax of the Bank for fiscal 2012 is ` 64.65 billion after provisions and contingencies of
` 15.83 billion, provision for taxes of ` 23.38 billion and all expenses. The disposable profit is ` 114.83
billion, taking into account the balance of ` 50.18 billion brought forward from the previous year. Your
Directors have recommended a dividend at the rate of ` 16.50 per equity share of face value ` 10 for
the year and have appropriated the disposable profit as follows:
` billion Fiscal 2011 Fiscal 2012
To Statutory Reserve, making in all ` 89.92 billion112.88 16.17
To Special Reserve, created and maintained in terms of Section 36(1)
(viii) of the Income Tax Act, 1961, making in all ` 38.19 billion
5.25 6.50
To Capital Reserve, making in all ` 21.84 billion 0.83 0.38
To/(from) Investment Reserve (1.16) —
To General Reserve, making in all ` 49.87 billion2— 0.02
Dividend for the year (proposed)
– On equity shares @ ` 16.50 per share (@ ` 14 per share for fiscal
2011)3
16.15 19.02
– On preference shares (`) 35,000 35,000
– Corporate dividend tax 2.02 2.20
Leaving balance to be carried forward to the next year 50.18 70.54
1. Includes ` 2.00 billion at March 31, 2011 on account of amalgamation of erstwhile The Bank of Rajasthan Limited
with ICICI Bank Limited.
2. Includes transfer to Reserve Fund and Investment Fund account ` 10.7 million for fiscal 2012 (` 0.4 million for fiscal
2011) in accordance with regulations applicable to Sri Lanka branch and transfer to General Reserve ` 3.2 million for
fiscal 2012 (` 2.6 million for fiscal 2011).
3. Includes dividend for the prior year paid on shares issued after the balance sheet date and prior to the record date.
Annual Report 2011-2012 7