ICICI Bank 2016 Annual Report Download - page 27

25Annual Report 2015-2016
Your Directors have pleasure in presenting the Twenty-Second Annual Report of ICICI Bank Limited along with the audited
nancial statements for the year ended March 31, 2016.
FINANCIAL HIGHLIGHTS
The nancial performance for scal 2016 is summarised in the following table:
` in billion, except percentages Fiscal 2015 Fiscal 2016 % change
Net interest income and other income 312.16 365.46 17.1%
Operating expenses 114.96 126.83 10.3%
Provisions & contingencies (excluding collective contingency
and related reserve)139.00 80.67 106.8%
Prot before collective contingency and related reserve and tax 158.20 157.96 –
Collective contingency and related reserve2–36.00 –
Prot before tax 158.20 121.96 (22.9)%
Prot after tax 111.75 97.26 (13.0)%
1. Excludes provision for taxes.
2. Refer detailed note no. 39 in schedule 18 ‘Notes to Accounts‘ of the financial statements.
` in billion, except percentages Fiscal 2015 Fiscal 2016 % change
Consolidated prot before collective contingency and related
reserve, tax and minority interest 183.39 179.04 (2.4)%
Collective contingency and related reserve1–36.00 –
Consolidated prot before tax and minority interest 183.39 143.04 (22.0)%
Consolidated prot after tax and minority interest 122.47 101.80 (16.9)%
1. Refer note no. 7 in schedule 18 'Notes to Accounts' of the consolidated financial statements.
Appropriations
The prot after tax of the Bank for scal 2016 is ` 97.26 billion after provisions and contingencies of ` 116.67 billion
(including collective contingency and related reserve amounting to ` 36.00 billion), provision for taxes of ` 24.70 billion
and all expenses. The disposable prot is ` 269.87 billion, taking into account the balance of ` 172.61 billion brought
forward from the previous year. Your Bank’s dividend policy is based on the protability and key nancial metrics of the
Bank, the Bank’s capital position and requirements and the regulations pertaining to the same. Your Bank has a consistent
dividend payment history. Given the nancial performance for scal 2016 and in line with the Bank’s dividend policy, your
Directors are pleased to recommend a dividend of ` 5.00 per equity share for the year ended March 31, 2016 and have
appropriated the disposable prot as follows:
` in billion Fiscal 2015 Fiscal 2016
To Statutory Reserve, making in all ` 187.52 billion 27.94 24.32
To Special Reserve created and maintained in terms of Section 36(1)(viii) of the Income
Tax Act, 1961, making in all ` 79.29 billion 11.00 13.50
To Capital Reserve, making in all ` 49.67 billion12.92 23.82
To/(from) Investment Reserve Account, making in all Nil (1.27) –
To Revenue and other reserves, making in all ` 31.48 billion2,3 0.01 5.01
Dividend for the year (proposed)
– On equity shares @ ` 5.00 per share of face value ` 2.00 each (@ ` 5.00 per
share of face value ` 2.00 each for scal 2015)429.02 29.11
– On preference shares @ ` 100.00 per preference share (@ ` 100.00 per
preference share for scal 2015) (`)35,000 35,000
– Corporate dividend tax 2.71 2.79
Leaving balance to be carried forward to the next year 172.61 171.32
Directors’ Report