ICICI Bank 2016 Annual Report Download - page 106

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Management’s Discussion & Analysis
Annual Report 2015-2016
Investments
Total investments increased by 1.4% from ` 1,581.29 billion at March 31, 2015 to ` 1,604.12 billion at March 31, 2016
primarily due to an increase in investments in government securities by ` 50.38 billion, commercial paper by ` 18.91 billion
and pass through certicates by ` 10.64 billion, offset, in part, by a decrease in investments in bonds and debentures by
` 23.08 billion. At March 31, 2016, the Bank had an outstanding net investment of ` 7.91 billion in security receipts
including application money issued by asset reconstruction companies compared to ` 8.41 billion at March 31, 2015.
Advances
Net advances increased by 12.3% from ` 3,875.22 billion at March 31, 2015 to ` 4,352.64 billion at March 31, 2016
primarily due to an increase in domestic advances. Domestic advances increased by 16.4% from ` 2,934.02 billion at
March 31, 2015 to ` 3,414.52 billion at March 31, 2016. Net advances of overseas branches, in US dollar terms, decreased
from US$ 15.1 billion at March 31, 2015 to US$ 14.2 billion at March 31, 2016. However, due to rupee depreciation from
` 62.50 per US dollar at March 31, 2015 to ` 66.26 per US dollar at March 31, 2016, the decrease in rupee terms was lower,
from ` 941.20 billion at March 31, 2015 to ` 938.12 billion at March 31, 2016.
Fixed and other assets
Fixed assets (net block) increased by 60.3% from ` 47.26 billion at March 31, 2015 to ` 75.76 billion at March 31, 2016
primarily due to revaluation of premises by ` 28.17 billion. Other assets increased from ` 534.48 billion at March 31, 2015
to ` 575.74 billion at March 31, 2016 primarily due to an increase in deferred tax assets and non-banking assets acquired in
satisfaction of claims, offset, in part, by a decrease in mark-to-market and receivables on foreign exchange and derivative
transactions. RIDF and other related deposits made in lieu of shortfall in directed lending requirements decreased from
` 284.51 billion at March 31, 2015 to ` 280.66 billion at March 31, 2016. During scal 2016, the Bank acquired xed assets
amounting to ` 17.22 billion in satisfaction of claims under debt-asset swap transactions with certain borrowers.
Liabilities
The following table sets forth, at the dates indicated, the principal components of liabilities (including capital and reserves).
` in billion, except percentages
Liabilities At March 31, 2015 At March 31, 2016 % change
Equity share capital ` 11.60 ` 11.70 0.9%
Reserves 792.69 885.66 11.7
Deposits 3,615.63 4,214.26 16.6
- Savings deposits 1,148.60 1,342.30 16.9
- Current deposits 495.20 588.70 18.9
- Term deposits 1,971.83 2,283.26 15.8
Borrowings (excluding subordinated debt and preference share capital) 1,315.29 1,363.66 3.7
- Domestic 456.29 426.39 (6.6)
- Overseas branches 859.00 937.27 9.1
Subordinated debt (included in Tier-1 and Tier-2 capital) 405.39 380.92 (6.0)
- Domestic 384.16 358.40 (6.7)
- Overseas branches 21.23 22.52 6.1
Preference share capital1 3.50 3.50 0.0
Other liabilities 317.19 347.25 9.5
Total liabilities ` 6,461.29 ` 7,206.95 11.5%
1. Included in Schedule 4 - ‘Borrowings’ of the balance sheet.
2. All amounts have been rounded off to the nearest ` 10.0 million.
Total liabilities (including capital and reserves) increased by 11.5% from ` 6,461.29 billion at March 31, 2015 to ` 7,206.95
billion at March 31, 2016 primarily due to 16.6% increase in deposits and 1.4% increase in borrowings.