ICICI Bank 2016 Annual Report Download - page 186

Annual Report 2015-2016184
Schedules
forming part of the Accounts (Contd.)
Financial Statements of ICICI Bank Limited
Sale of fixed assets
During the year ended March 31, 2016, the Bank sold xed assets to ICICI Prudential Asset Management company
Limited amounting to ` 0.1 million (March 31, 2015: Nil) and to ICICI Venture Funds Management Company Limited
amounting to Nil (March 31, 2015: ` 0.7 million).
Purchase of fixed assets
During the year ended March 31, 2016, the Bank purchased xed assets from ICICI Securities Limited amounting to
` 1.8 million (March 31, 2015: Nil), from ICICI Venture Funds Management Company Limited amounting to ` 0.2
million (March 31, 2015: Nil) and from ICICI Prudential Life Insurance Company Limited amounting to Nil (March 31,
2015: ` 23.0 million).
Donation
During the year ended March 31, 2016, the Bank has given donation to ICICI Foundation for Inclusive Growth
amounting to ` 450.0 million (March 31, 2015: ` 260.0 million).
Purchase of loan
During the year ended March 31, 2016, the Bank purchased loan from ICICI Bank UK PLC amounting to ` 5,650.3
million (March 31, 2015: Nil).
During the year ended March 31, 2015, the Bank purchased loan from ICICI Bank Eurasia Limited Liability Company
amounting to ` 1,138.1 million.
Risk participation
During the year ended March 31, 2016, the Bank has entered into funded risk participation with ICICI Bank UK PLC
amounting to ` 6,876.2 million (March 31, 2015: ` 4,101.6 million) and entered into unfunded risk participation with
ICICI Bank Canada amounting to ` 588.0 million (March 31, 2015: ` 312.5 million).
Purchase of bank guarantees
During the year ended March 31, 2016, the Bank purchased bank guarantee from ICICI Bank UK PLC amounting to Nil
(March 31, 2015: ` 1,329.4 million).
Letters of Comfort
The Bank has issued letters of comfort on behalf of its banking subsidiary ICICI Bank UK PLC to Financial Services
Authority, UK (now split into two separate regulatory authorities, the Prudential Regulation Authority and the Financial
Conduct Authority) to conrm that the Bank intends to nancially support ICICI Bank UK PLC in ensuring that it meets
all of its nancial obligations as they fall due.
The Bank has issued an undertaking on behalf of ICICI Securities Inc. for Singapore dollar 10.0 million (currently
equivalent to ` 492.7 million) to the Monetary Authority of Singapore (MAS) and has executed indemnity agreement
on behalf of ICICI Bank Canada to its independent directors for a sum not exceeding Canadian dollar 2.5 million
(currently equivalent to ` 128.1 million) each, aggregating to Canadian dollar 17.5 million (currently equivalent to
` 896.5 million). The aggregate amount of ` 1,389.2 million at March 31, 2016 (March 31, 2015: ` 1,312.9 million) is
included in the contingent liabilities.
During the year ended March 31, 2016, Canada Deposit Insurance Corporation (CDIC) has released the Bank from the
obligations of the undertaking provided on behalf of its banking subsidiary ICICI Bank Canada.
The letters of comfort in the nature of letters of awareness that were outstanding at March 31, 2016 issued by the
Bank on behalf of its subsidiaries in respect of their borrowings made or proposed to be made, aggregated to
` 12,486.1 million (March 31, 2015: ` 12,748.0 million). During the year ended March 31, 2016, borrowings pertaining
to letters of comfort aggregating ` 261.9 million were repaid.
In addition to the above, the Bank has also issued letters of comfort in the nature of letters of awareness on behalf
of its subsidiaries for other incidental business purposes. These letters of awareness are in the nature of factual
statements or conrmation of facts and do not create any nancial impact on the Bank.