ICICI Bank 2016 Annual Report Download - page 164

Annual Report 2015-2016162
Schedules
forming part of the Accounts (Contd.)
Financial Statements of ICICI Bank Limited
Overseas branches of the Bank, as originators, have sold four loans through direct assignment amounting
to ` 6,536.9 million during the year ended March 31, 2016 (March 31, 2015: two loans amounting to
` 1,698.1 million).
22. Financial assets transferred during the year to securitisation company (SC)/reconstruction company (RC)
The Bank has transferred certain assets to Asset Reconstruction Companies (ARCs) in terms of the guidelines issued
by RBI circular no. DBOD.BP.BC.No.98/21.04.132/2013-14 dated February 26, 2014. For the purpose of the valuation
of the underlying security receipts issued by the underlying trusts managed by ARCs, the security receipts are valued
at their respective net asset values as advised by the ARCs.
The following table sets forth, for the periods indicated, the details of the assets transferred.
` in million, except number of accounts
Particulars Year ended
March 31, 2016
Year ended
March 31, 2015
Number of accounts1714
Aggregate value (net of provisions) of accounts sold to SC/RC 6,721.0 3,285.8
Aggregate consideration 7,305.8 2,480.0
Additional consideration realised in respect of accounts transferred in earlier years – –
Aggregate gain/(loss) over net book value 584.8 (805.8)
1. Excludes accounts previously written-off.
The following table sets forth, for the periods indicated, the details of the net book value of investments in security
receipts.
` in million
Particulars At
March 31, 2016
At
March 31, 2015
Net book value of investments in security receipts which are:
Backed by NPAs sold by the Bank as underlying14,066.1 6,069.6
Backed by NPAs sold by other banks/nancial institutions (FIs)/non-banking
nancial companies (NBFCs) as underlying 241.6 681.4
Total 4,307.7 6,751.0
1. During the year ended March 31, 2016, asset reconstruction companies have fully redeemed one security receipt. The Bank
incurred net loss of ` 470.2 million (March 31, 2015: Net loss of ` 81.3 million).
23. Details of non-performing assets purchased/sold, excluding those sold to SC/RC
The Bank has not purchased any non-performing assets in terms of the guidelines issued by RBI circular no. DBOD.
BP.BC.No.98/21.04.132/2013-14 dated February 26, 2014 during the year ended March 31, 2016. The Bank has sold
certain non-performing assets in terms of the above RBI guidelines.
The following table sets forth, for the periods indicated, details of non-performing assets sold, excluding those sold
to SC/RC.
` in million, except number of accounts
Particulars Year ended
March 31, 2016
Year ended
March 31, 2015
No. of accounts 3–
Aggregate value (net of provisions) of accounts sold, excluding those sold to SC/RC 12.8 –
Aggregate consideration 174.4 –
Aggregate gain/(loss) over net book value 161.6 –
Additionally, during the year ended March 31, 2016, the Bank sold a non-performing loan to a corporate for a
consideration of ` 290.0 million on which the Bank recognised a gain of ` 290.0 million.