ICICI Bank 2014 Annual Report Download - page 86

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Management’s Discussion & Analysis
84
Management’s Discussion & Analysis
Profit after tax of ICICI Bank Eurasia Limited Liability Company decreased from ` 0.33 billion in fiscal
2013 to ` 0.14 billion in fiscal 2014 primarily due to increase in provision on investments and loans and
decrease in net interest income.
Profit after tax of ICICI Securities Primary Dealership Limited increased from ` 1.22 billion in fiscal 2013 to
` 1.32 billion in fiscal 2014 due to increase in trading gains and net interest income.
Consolidated profit after tax of ICICI Securities Limited and its subsidiaries increased from ` 0.64 billion
in fiscal 2013 to ` 0.91 billion in fiscal 2014 primarily due to increase in brokerage income and net interest
income offset, in part, by increase in staff cost.
Profit after tax of ICICI Home Finance Company Limited increased from ` 2.20 billion in fiscal 2013 to
` 2.23 billion in fiscal 2014 primarily due to increase in fee income offset, in part, by decrease in net
interest income.
Profit after tax of ICICI Prudential Asset Management Company Limited increased from ` 1.10 billion in
fiscal 2013 to ` 1.83 billion in fiscal 2014 primarily due to increase in fee income on account of increase
in average assets under management and margins on mutual fund operations. This was offset, in part, by
increase in administrative expenses.
Profit after tax of ICICI Venture Funds Management Company Limited increased from ` 0.20 billion in
fiscal 2013 to ` 0.33 billion in fiscal 2014 primarily due to increase in income from venture capital funds
and other income offset, in part, by decrease in management fees.
Consolidated assets of the Bank and its subsidiaries and other consolidating entities increased from
` 6,748.22 billion at March 31, 2013 to ` 7,475.26 billion at March 31, 2014 primarily due to increase in
assets of ICICI Bank, ICICI Bank UK, ICICI Life and ICICI General. Consolidated advances of the Bank and
its subsidiaries increased from ` 3,299.74 billion at March 31, 2013 to ` 3,873.42 billion at March 31, 2014.
The following table sets forth, for the periods indicated, the profit/(loss) of the Bank’s principal subsidiaries.
` in billion
Company Fiscal 2013 Fiscal 2014
ICICI Prudential Life Insurance Company Limited ` 14.96 ` 15.67
ICICI Lombard General Insurance Company Limited 3.06 5.11
ICICI Bank Canada 2.37 2.77
ICICI Bank UK Plc 0.78 1.52
ICICI Bank Eurasia Limited Liability Company 0.33 0.14
ICICI Securities Primary Dealership Limited 1.22 1.32
ICICI Securities Limited (consolidated) 0.64 0.91
ICICI Home Finance Company Limited 2.20 2.23
ICICI Prudential Asset Management Company Limited 1.10 1.83
ICICI Venture Funds Management Company Limited ` 0.20 ` 0.33
All amounts have been rounded off to the nearest ` 10.0 million.