ICICI Bank 2013 Annual Report Download - page 123

F45
Interest income
During the year ended March 31, 2013, the Bank received interest from its subsidiaries amounting to ` 1,781.2 million
(March 31, 2012: ` 1,686.8 million), from its associates/joint ventures/other related entities amounting to ` 95.1 million
(March 31, 2012: ` 49.1 million), from its key management personnel amounting to ` 0.4 million (March 31, 2012: ` 0.5
million) and from relatives of key management personnel amounting to ` 0.7 million (March 31, 2012: ` 0.7 million). The
material transactions for the year ended March 31, 2013 were with ICICI Home Finance Company Limited amounting to
` 1,202.0 million (March 31, 2012: ` 1,181.4 million) and with ICICI Bank Eurasia Limited Liability Company amounting to
` 245.9 million (March 31, 2012: ` 210.9 million).
Other income
The Bank undertakes derivative transactions with its subsidiaries, associates, joint ventures and other related entities.
The Bank manages its foreign exchange and interest rate risks arising from these transactions by covering them in the
market. During the year ended March 31, 2013, the net gain of the Bank on forex and derivative transactions entered with
subsidiaries was ` 304.5 million (March 31, 2012: net loss of ` 337.3 million). The material transactions for the year ended
March 31, 2013 were gain of ` 235.7 million (March 31, 2012: loss of ` 620.0 million) with ICICI Bank UK PLC, gain of
` 170.4 million (March 31, 2012: gain of ` 352.9 million) with ICICI Bank Canada, loss of ` 162.5 million (March 31, 2012:
gain of ` 168.4 million) with ICICI Home Finance Company Limited and gain of ` 31.6 million (March 31, 2012: loss of
` 242.2 million) with ICICI Securities Primary Dealership Limited.
While the Bank within its overall position limits covers these transactions in the market, the above amounts represent
only the transactions with its subsidiaries, associates, joint ventures and other related entities and not the offsetting/
covering transactions.
Dividend income
During the year ended March 31, 2013, the Bank received dividend from its subsidiaries amounting to ` 9,117.6 million
(March 31, 2012: ` 7,364.1 million). The material transactions for the year ended March 31, 2013 were with ICICI Prudential
Life Insurance Company Limited amounting to ` 3,271.5 million (March 31, 2012: ` 2,321.7 million), ICICI Bank Canada
amounting to ` 1,666.2 million (March 31, 2012: ` 283.0 million), ICICI Home Finance Company Limited amounting to
` 1,389.9 million (March 31, 2012: ` 1,714.1 million) and with ICICI Bank UK PLC amounting to ` 1,307.3 million (March
31, 2012: ` 1,216.9 million).
Dividend paid
During the year ended March 31, 2013, the Bank paid dividend to its key management personnel amounting to
` 6.7 million (March 31, 2012: ` 4.5 million). The dividend paid during the year ended March 31, 2013 to Ms. Chanda
Kochhar was ` 5.1 million (March 31, 2012: ` 3.8 million), to Mr. N. S. Kannan was ` 1.2 million (March 31, 2012: ` 0.7
million) and to Mr. K. Ramkumar was ` 0.4 million (March 31, 2012: Nil).
Remuneration to whole-time directors
Remuneration paid to the whole-time directors of the Bank during the year ended March 31, 2013 was ` 154.9 million
(March 31, 2012: ` 111.3 million). The remuneration paid for the year ended March 31, 2013 to Ms. Chanda Kochhar was
` 54.2 million (March 31, 2012: ` 37.7 million), to Mr. N. S. Kannan was ` 32.2 million (March 31, 2012: ` 25.0 million), to Mr.
K. Ramkumar was ` 42.7 million (March 31, 2012: ` 25.4 million) and to Mr. Rajiv Sabharwal was ` 25.8 million (March 31,
2012: ` 23.2 million).
Sale of fixed assets
During the year ended March 31, 2013, the Bank sold fixed assets to its subsidiaries amounting to ` 2.1 million (March 31,
2012: ` 18.4 million) and to its key management personnel amounting to ` 0.7 million (March 31, 2012: Nil). The material
transactions for the year ended March 31, 2013 were with ICICI Securities Limited amounting to ` 1.9 million (March
31, 2012: ` 1.0 million), ICICI Venture Funds Management Company Limited amounting to Nil (March 31, 2012: ` 14.7
million), ICICI Lombard General Insurance Company Limited amounting to Nil (March 31, 2012: ` 2.7 million) and with
Mr. K. Ramkumar amounting to ` 0.7 million (March 31, 2012: Nil).
Purchase of fixed assets
During the year ended March 31, 2013, the Bank purchased fixed assets from its subsidiaries amounting to ` 2.6 million
(March 31, 2012: ` 9.4 million). The material transactions for the year ended March 31, 2012 were with ICICI Venture
Funds Management Company Limited amounting to ` 1.8 million (March 31, 2012: Nil), ICICI Prudential Asset Management
Company Limited amounting to ` 0.8 million (March 31, 2012: Nil), ICICI Lombard General Insurance Company Limited
amounting to Nil (March 31, 2012: ` 4.6 million) and with ICICI Prudential Life Insurance Company Limited amounting to Nil
(March 31, 2012: ` 4.2 million).
forming part of the Accounts (Contd.)
schedules