ICICI Bank 2013 Annual Report Download - page 9
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Directors’ Report
Your Directors have pleasure in presenting the Nineteenth Annual Report of ICICI Bank Limited along with
the audited statement of accounts for the year ended March 31, 2013.
FINANCIAL HIGHLIGHTS
The financial performance for fiscal 2013 is summarised in the following table:
` billion, except percentages Fiscal 2012 Fiscal 2013 % change
Net interest income and other income 182.36 222.12 21.8%
Operating expenses 78.50 90.13 14.8%
Provisions & contingencies115.83 18.02 13.8%
Profit before tax 88.03 113.97 29.5%
Profit after tax 64.65 83.25 28.8%
1. Excludes provision for taxes.
` billion, except percentages Fiscal 2012 Fiscal 2013 % change
Consolidated profit after tax 76.43 96.04 25.7%
Appropriations
The profit after tax of the Bank for fiscal 2013 is ` 83.25 billion after provisions and contingencies of
` 18.02 billion, provision for taxes of ` 30.72 billion and all expenses. The disposable profit is ` 153.79
billion, taking into account the balance of ` 70.54 billion brought forward from the previous year. In
accordance with the guidelines prescribed by Reserve Bank of India (RBI) and the dividend policy adopted
by the Bank, your Directors have recommended a dividend at the rate of ` 20.00 per equity share of face
value ` 10 for the year and have appropriated the disposable profit as follows:
` billion Fiscal 2012 Fiscal 2013
To Statutory Reserve, making in all ` 110.74 billion 16.17 20.82
To Special Reserve created and maintained in terms of Section 36(1)(viii)
of the Income-tax Act, 1961, making in all ` 45.79 billion
6.50 7.60
To Capital Reserve, making in all ` 22.17 billion 0.38 0.33
To Revenue and other reserves, making in all ` 49.90 billion10.02 0.03
Dividend for the year (proposed)
– On equity shares @ ` 20.00 per share (@ ` 16.50 per share for
fiscal 2012)2
19.02 23.07
– On preference shares (`)35,000 35,000
– Corporate dividend tax 2.20 2.92
Leaving balance to be carried forward to the next year 70.54 99.02
1. Includes transfer to Reserve Fund and Investment Fund account ` 27.8 million for fiscal 2013 (` 10.7 million for
fiscal 2012) in accordance with regulations applicable to Sri Lanka branch. No amount was transferred to General
Reserve in fiscal 2013 (` 3.2 million for fiscal 2012).
2. Includes dividend for the prior year paid on shares issued after the balance sheet date and prior to the
record date.
Annual Report 2012-2013 7