ICICI Bank 2016 Annual Report Download - page 227

Annual Report 2015-2016 225
Schedules
forming part of the Consolidated Accounts (Contd.)
Consolidated Financial Statements
The following were the signicant transactions between the Group and its related parties for the year ended March
31, 2016. A specic related party transaction is disclosed as a material related party transaction wherever it exceeds
10% of all related party transactions in that category.
Insurance services
During the year ended March 31, 2016, the Group received insurance premiums from associates/other related entities
amounting to ` 42.1 million (March 31, 2015: ` 34.4 million), from key management personnel of the Bank amounting
to ` 3.3 million (March 31, 2015: ` 1.3 million) and from relatives of key management personnel amounting to ` 2.0
million (March 31, 2015: ` 1.3 million). The material transactions for the year ended March 31, 2016 were with ICICI
Foundation for Inclusive Growth amounting to ` 22.5 million (March 31, 2015: ` 16.0 million) and with FINO PayTech
Limited amounting to ` 13.3 million (March 31, 2015: ` 12.1 million).
During the year ended March 31, 2016, the Group paid insurance claims to associates/other related entities amounting
to ` 22.1 million (March 31, 2015: ` 0.3 million) and to relatives of key management personnel of the Bank amounting
to Nil (March 31, 2015: ` 0.6 million). The material transactions for the year ended March 31, 2016 were with FINO
PayTech Limited amounting to ` 12.7 million (March 31, 2015: Nil), Akzo Nobel India Limited amounting to ` 9.2
million (March 31, 2015: Nil) and with I-Process Services (India) Private Limited amounting to ` 0.2 million (March 31,
2015: ` 0.3 million).
Fees, commission and other income
During the year ended March 31, 2016, the Group received fees from its associates/other related entities amounting
to ` 21.1 million (March 31, 2015: ` 30.7 million), from key management personnel of the Bank amounting to
` 0.3 million (March 31, 2015: ` 1.7 million) and from relatives of key management personnel amounting to ` 0.1
million (March 31, 2015: ` 0.01 million). The material transactions for the year ended March 31, 2016 were with India
Infradebt Limited amounting to ` 17.2 million (March 31, 2015: ` 9.2 million), ICICI Merchant Services Private Limited
amounting to ` 3.4 million (March 31, 2015: ` 5.5 million) and with India Advantage Fund-IV amounting to ` 0.01
million (March 31, 2015: ` 12.5 million).
1. Insignificant amount.
Lease of premises, common corporate and facilities expenses
During the year ended March 31, 2016, the Group recovered from its associates/other related entities an amount of
` 87.1 million (March 31, 2015: ` 80.4 million) for lease of premises, common corporate and facilities expenses. The
material transactions for the year ended March 31, 2016 were with ICICI Foundation for Inclusive Growth amounting
to ` 57.1 million (March 31, 2015: ` 52.0 million) and with FINO PayTech Limited amounting to ` 23.2 million (March
31, 2015: ` 22.9 million).
Secondment of employees
During the year ended March 31, 2016, the Group recovered for deputation of employees from its associates/other
related entities an amount of ` 10.7 million (March 31, 2015: ` 19.2 million). The material transactions for the year
ended March 31, 2016 were with I-Process Services (India) Private Limited amounting to ` 7.5 million (March 31,
2015: ` 7.1 million) and with ICICI Foundation for Inclusive Growth amounting to ` 3.2 million (March 31, 2015: ` 12.1
million).
Brokerage, fees and other expenses
During the year ended March 31, 2016, the Group paid brokerage/fees and other expenses to its associates/other
related entities amounting to ` 5,338.7 million (March 31, 2015: ` 4,876.1 million). The material transactions for the
year ended March 31, 2016 were with I-Process Services (India) Private Limited amounting to ` 2,915.9 million (March
31, 2015: ` 2,397.7 million) and with ICICI Merchant Services Private Limited amounting to ` 2,341.3 million (March
31, 2015: ` 2,216.0 million).
Purchase of investments
During the year ended March 31, 2016, the Group invested in the units of India Advantage Fund-IV amounting to Nil
(March 31, 2015: ` 1,970.4 million) and in the units of India Advantage Fund-III amounting to Nil (March 31, 2015:
` 1,163.5 million).