Published: July 31, 2010
ICICI Bank Performance Review - Quarter ended June 30, 2010
MUMBAI, India - (BUSINESS WIRE) - The Board of Directors of ICICI Bank Limited (NYSE:IBN) at its meeting
held at Mumbai today, approved the audited accounts of the Bank for the
quarter ended June 30, 2010.
Profit & loss account
-
Profit after tax increased 17% to Rs. 1,026 crore (US$ 221 million)
for the quarter ended June 30, 2010 (Q1-2011) from Rs. 878 crore (US$
189 million) for the quarter ended June 30, 2009 (Q1-2010).
-
Fee income increased 7% to Rs. 1,413 crore (US$ 304 million) in
Q1-2011 from Rs. 1,319 crore (US$ 284 million) in Q1-2010.
-
Operating expenses (including direct marketing agency expenses)
decreased 2% to Rs. 1,461 crore (US$ 315 million) in Q1-2011 from Rs.
1,494 crore (US$ 322 million) in Q1-2010.
-
Provisions decreased 40% to Rs. 798 crore (US$ 172 million) in Q1-2011
from Rs. 1,324 crore (US$ 285 million) in Q1-2010.
Balance sheet
The Bank continued to invest in expansion of its branch network to
enhance its deposit franchise and create an integrated distribution
network for both asset and liability products. The branch network of the
Bank has increased to 2,016 branches at June 30, 2010, the largest
branch network among private sector banks in the country.
CASA deposits increased 32% to Rs. 84,618 crore (US$ 18.2 billion) at
June 30, 2010 from Rs. 63,977 crore (US$ 13.8 billion) at June 30, 2009
and the CASA ratio increased to 42.1% at June 30, 2010 from 30.4% at
June 30, 2009.
Total deposits of the Bank were Rs. 200,913 crore (US$ 43.3 billion) at
June 30, 2010, compared to Rs. 202,017 crore (US$ 43.5 billion) at March
31, 2010. The loan book of the Bank increased to Rs. 184,378 crore (US$
39.7 billion) at June 30, 2010 from Rs. 181,206 crore (US$ 39.0 billion)
at March 31, 2010.
The total assets of the Bank at June 30, 2010 were Rs. 363,997 crore
(US$ 78.4 billion).
Capital adequacy
The Bank's capital adequacy at June 30, 2010 as per Reserve Bank of
India's guidelines on Basel II norms was 20.2% and Tier-1 capital
adequacy was 14.0%, well above RBI's requirement of total capital
adequacy of 9.0% and Tier-1 capital adequacy of 6.0%.
Asset quality
Net non-performing assets decreased by 25% to Rs. 3,514 crore (US$ 757
million) at June 30, 2010 from Rs. 4,667 crore (US$ 1,005 million) at
June 30, 2009. The Bank's net non-performing asset ratio decreased to
1.62% at June 30, 2010 from 2.19% at June 30, 2009. The Bank's
provisioning coverage ratio computed in accordance with the RBI
guidelines at June 30, 2010 was 64.8% compared to 51.1% at June 30, 2009.
Insurance subsidiaries
ICICI Life maintained its position as the largest private sector life
insurer based on retail new business weighted received premium during
Q1-2011. ICICI Life's new business annualised premium equivalent (APE)
increased by 90% to Rs. 1,182 crore (US$ 254 million) in Q1-2011 from
Rs. 622 crore (US$ 134 million) in Q1-2010. ICICI Life's renewal premium
in Q1-2011 was Rs. 1,988 crore (US$ 428 million). ICICI Life's unaudited
new business profit (NBP) increased by 91% to Rs. 225 crore (US$ 48
million) in Q1-2011 from Rs. 118 crore (US$ 25 million) in Q1-2010.
Assets held increased 38% to Rs. 59,547 crore (US$ 12.8 billion) at June
30, 2010 from Rs. 43,035 crore (US$ 9.3 billion) at June 30, 2009.
For Q1-2011, ICICI Prudential Life Insurance Company (ICICI Life)
reported a loss after tax of Rs. 116 crore (US$ 25 million), before
accounting for a surplus of Rs. 235 crore (US$ 51 million) in the
non-participating policyholders' funds, which would be transferred at
the end of the financial year based on the appointed actuary's
recommendation. If this surplus were transferred in Q1-2011, the profit
after tax of ICICI Life for the quarter would have been Rs. 119 crore
(US$ 26 million).
ICICI Lombard General Insurance Company (ICICI General) maintained its
leadership in the private sector during Q1-2011. ICICI General's premium
income in Q1-2011 increased by 27% to Rs. 1,118 crore (US$ 241 million)
from Rs. 878 crore (US$ 189 million) in Q1-2010. ICICI General's profit
after tax was Rs. 33 crore (US$ 7 million) in Q1-2011 compared to Rs. 38
crore (US$ 8 million) in Q1-2010.
Securities and asset management subsidiaries
ICICI Prudential Asset Management Company's profit after tax increased
by 68% to Rs. 32 crore (US$ 7 million) in Q1-2011 from Rs. 19 crore (US$
4 million) in Q1-2010.
ICICI Securities' profit after tax increased by 79% to Rs. 25 crore (US$
5 million) in Q1-2011 from Rs. 14 crore (US$ 3 million) in Q1-2010.
Overseas banking subsidiaries
ICICI Bank UK's profit after tax increased to USD 9.0 million in Q1-2011
from USD 4.9 million in Q1-2010. ICICI Bank UK's capital position
continued to be strong with a capital adequacy ratio of 18.4% at June
30, 2010. The proportion of retail term deposits in total deposits
increased to 69% at June 30, 2010 from 63% at June 30, 2009.
ICICI Bank Canada's profit after tax decreased to CAD 6.5 million in
Q1-2011 from CAD 8.9 million in Q1-2010. ICICI Bank Canada's capital
position remained strong with a capital adequacy ratio of 22.5% at June
30, 2010.
Consolidated profits
Consolidated profit after tax of the Bank increased by 5% to Rs. 1,091
crore (US$ 235 million) in Q1-2011 from Rs. 1,035 crore (US$ 223
million) in Q1-2010. If the surplus in non-participating policyholders'
funds of ICICI Life were transferred in Q1-2011, the Bank's consolidated
profit after tax for Q1-2011 would have been Rs. 1,264 crore (US$ 272
million).
|
Summary Profit and Loss Statement (as per unconsolidated Indian
GAAP accounts)
|
|
Rs. crore
|
|
|
|
Q1-2010
|
|
Q1-2011
|
|
FY2010
|
|
Net interest income
|
|
1,985
|
|
1,991
|
|
8,114
|
|
Non-interest income
|
|
2,090
|
|
1,680
|
|
7,478
|
|
- Fee income
|
|
1,319
|
|
1,413
|
|
5,650
|
|
- Lease and other income
|
|
57
|
|
163
|
|
647
|
|
- Treasury income
|
|
714
|
|
104
|
|
1,181
|
|
Less:
|
|
|
|
|
|
|
|
Operating expense
|
|
1,467
|
|
1,425
|
|
5,593
|
|
Expenses on direct market agents (DMAs) 1
|
|
27
|
|
36
|
|
125
|
|
Lease depreciation
|
|
52
|
|
22
|
|
142
|
|
Operating profit
|
|
2,529
|
|
2,188
|
|
9,732
|
|
Less: Provisions
|
|
1,324
|
|
798
|
|
4,387
|
|
Profit before tax
|
|
1,205
|
|
1,390
|
|
5,345
|
|
Less: Tax
|
|
327
|
|
364
|
|
1,320
|
|
Profit after tax
|
|
878
|
|
1,026
|
|
4,025
|
|
1. Represents commissions paid to direct marketing
agents (DMAs) for origination of retail loans. These commissions
are expensed upfront.
|
|
2. Prior period figures have been regrouped/re-arranged
where necessary.
|
|
|
|
Summary Balance Sheet
|
|
Rs. crore
|
|
|
|
March 31, 2010
|
|
June 30, 2009
|
|
June 30, 2010
|
|
Assets
|
|
|
|
|
|
|
|
Cash & bank balances
|
|
38,874
|
|
30,528
|
|
30,445
|
|
Advances
|
|
181,206
|
|
198,102
|
|
184,378
|
|
Investments
|
|
120,893
|
|
114,247
|
|
127,571
|
|
Fixed & other assets
|
|
22,427
|
|
24,542
|
|
21,603
|
|
Total
|
|
363,400
|
|
367,419
|
|
363,997
|
|
Liabilities
|
|
|
|
|
|
|
|
Networth
|
|
51,618
|
|
50,193
|
|
52,823
|
|
- Equity capital
|
|
1,115
|
|
1,113
|
|
1,116
|
|
- Reserves
|
|
50,503
|
|
49,080
|
|
51,707
|
|
Deposits
|
|
202,017
|
|
210,236
|
|
200,913
|
|
CASA ratio
|
|
41.7%
|
|
30.4%
|
|
42.1%
|
|
Borrowings1
|
|
94,264
|
|
91,231
|
|
94,997
|
|
Other liabilities
|
|
15,501
|
|
15,759
|
|
15,264
|
|
Total
|
|
363,400
|
|
367,419
|
|
363,997
|
|
1. Borrowings include preference shares amounting to Rs.
350 crore.
|
All financial and other information in this press release, other than
financial and other information for specific subsidiaries where
specifically mentioned, is on an unconsolidated basis for ICICI Bank
Limited only unless specifically stated to be on a consolidated basis
for ICICI Bank Limited and its subsidiaries. Please also refer to the
statement of audited unconsolidated, consolidated and segmental results
required by Indian regulations that has, along with this release, been
filed with the stock exchanges in India where ICICI Bank's equity shares
are listed and with the New York Stock Exchange and the US Securities
Exchange Commission, and is available on our website www.icicibank.com.
Except for the historical information contained herein, statements in
this release which contain words or phrases such as 'will', 'expected
to', etc., and similar expressions or variations of such expressions may
constitute 'forward-looking statements'. These forward-looking
statements involve a number of risks, uncertainties and other factors
that could cause actual results, opportunities and growth potential to
differ materially from those suggested by the forward-looking
statements. These risks and uncertainties include, but are not limited
to, the actual growth in demand for banking and other financial products
and services in the countries that we operate or where a material number
of our customers reside, our ability to successfully implement our
strategy, including our use of the Internet and other technology, our
rural expansion, our exploration of merger and acquisition
opportunities, our ability to integrate recent or future mergers or
acquisitions into our operations and manage the risks associated with
such acquisitions to achieve our strategic and financial objectives, our
ability to manage the increased complexity of the risks we face
following our rapid international growth, future levels of impaired
loans, our growth and expansion in domestic and overseas markets, the
adequacy of our allowance for credit and investment losses,
technological changes, investment income, our ability to market new
products, cash flow projections, the outcome of any legal, tax or
regulatory proceedings in India and in other jurisdictions we are or
become a party to, the future impact of new accounting standards, our
ability to implement our dividend policy, the impact of changes in
banking regulations and other regulatory changes in India and other
jurisdictions on us, including on the assets and liabilities of ICICI, a
former financial institution not subject to Indian banking regulations,
the bond and loan market conditions and availability of liquidity
amongst the investor community in these markets, the nature of credit
spreads, interest spreads from time to time, including the possibility
of increasing credit spreads or interest rates, our ability to roll over
our short-term funding sources and our exposure to credit, market and
liquidity risks as well as other risks that are detailed in the reports
filed by us with the United States Securities and Exchange Commission.
ICICI Bank undertakes no obligation to update forward-looking statements
to reflect events or circumstances after the date thereof.
ICICI Bank has announced the amalgamation of Bank of Rajasthan with
ICICI Bank, subject to necessary approvals. There can be no assurance
that these approvals will be obtained or of the time involved therein.
The proposed amalgamation would be governed by the provisions of Section
44A of the Banking Regulation Act, 1949. The proposed amalgamation and
any future acquisitions or mergers may involve a number of risks,
including deterioration of asset quality, diversion of our management's
attention required to integrate the acquired business and the failure to
retain key acquired personnel and clients, leverage synergies or
rationalise operations, or develop the skills required for new
businesses and markets, or unknown and known liabilities, some or all of
which could have an adverse effect on our business. This release does
not constitute an offer of securities.
For further press queries please call Charudatta Deshpande at
91-22-2653 8208 or e-mail: charudatta.deshpande@icicibank.com.
For investor queries please call Ranju Sigtia at 91-22-2653 6198 or
email at ir@icicibank.com.
1 crore = 10.0 million
US$ amounts represent convenience translations at US$1 = Rs 46.45
|
AUDITED UNCONSOLIDATED FINANCIAL RESULTS
|
|
(Rs. in crore)
|
|
Sr. No.
|
|
Particulars
|
|
Three months ended
|
|
Year ended
|
|
|
|
June 30, 2010
|
|
June 30, 2009
|
|
March 31, 2010
|
|
|
|
|
|
(Audited)
|
|
(Audited)
|
|
(Audited)
|
|
1.
|
|
Interest earned (a)+(b)+(c)+(d)
|
|
5,812.54
|
|
|
7,133.44
|
|
|
25,706.93
|
|
|
|
|
a) Interest/discount on advances/bills
|
|
3,778.53
|
|
|
5,086.56
|
|
|
17,372.73
|
|
|
|
|
b) Income on investments
|
|
1,658.55
|
|
|
1,576.10
|
|
|
6,466.35
|
|
|
|
|
c) Interest on balances with Reserve Bank of India and other
inter-bank funds
|
|
98.06
|
|
|
200.72
|
|
|
624.99
|
|
|
|
|
d) Others
|
|
277.40
|
|
|
270.06
|
|
|
1,242.86
|
|
|
2.
|
|
Other income
|
|
1,680.51
|
|
|
2,089.88
|
|
|
7,477.65
|
|
|
3.
|
|
TOTAL INCOME (1)+(2)
|
|
7,493.05
|
|
|
9,223.32
|
|
|
33,184.58
|
|
|
4.
|
|
Interest expended
|
|
3,821.49
|
|
|
5,148.18
|
|
|
17,592.57
|
|
|
5.
|
|
Operating expenses (e)+(f)+(g)
|
|
1,483.49
|
|
|
1,546.02
|
|
|
5,859.83
|
|
|
|
|
e) Employee cost
|
|
575.59
|
|
|
466.52
|
|
|
1,925.79
|
|
|
|
|
f) Direct marketing expenses
|
|
35.81
|
|
|
27.50
|
|
|
125.48
|
|
|
|
|
g) Other operating expenses
|
|
872.09
|
|
|
1,052.00
|
|
|
3,808.56
|
|
|
6.
|
|
TOTAL EXPENDITURE (4)+(5)
(excluding provisions and contingencies)
|
|
5,304.98
|
|
|
6,694.20
|
|
|
23,452.40
|
|
|
7.
|
|
OPERATING PROFIT (3)–(6)
(Profit before provisions and contingencies)
|
|
2,188.07
|
|
|
2,529.12
|
|
|
9,732.18
|
|
|
8.
|
|
Provisions (other than tax) and contingencies
|
|
797.82
|
|
|
1,323.65
|
|
|
4,386.86
|
|
|
9.
|
|
Exceptional items
|
|
..
|
|
|
..
|
|
|
..
|
|
|
10.
|
|
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES BEFORE TAX
(7)–(8)–(9)
|
|
1,390.25
|
|
|
1,205.47
|
|
|
5,345.32
|
|
|
11.
|
|
Tax expense (h)+(i)
|
|
364.27
|
|
|
327.25
|
|
|
1,320.34
|
|
|
|
|
h) Current period tax
|
|
515.10
|
|
|
393.05
|
|
|
1,600.78
|
|
|
|
|
i) Deferred tax adjustment
|
|
(150.83
|
)
|
|
(65.80
|
)
|
|
(280.44
|
)
|
|
12.
|
|
NET PROFIT/(LOSS) FROM ORDINARY ACTIVITIES (10)–(11)
|
|
1,025.98
|
|
|
878.22
|
|
|
4,024.98
|
|
|
13.
|
|
Extraordinary items (net of tax expense)
|
|
..
|
|
|
..
|
|
|
..
|
|
|
14.
|
|
NET PROFIT/(LOSS) FOR THE PERIOD (12)–(13)
|
|
1,025.98
|
|
|
878.22
|
|
|
4,024.98
|
|
|
15.
|
|
Paid-up equity share capital (face value Rs. 10/-)
|
|
1,115.50
|
|
|
1,113.36
|
|
|
1,114.89
|
|
|
16.
|
|
Reserves excluding revaluation reserves
|
|
51,707.33
|
|
|
49,080.07
|
|
|
50,503.48
|
|
|
17.
|
|
Analytical ratios
|
|
|
|
|
|
|
|
|
|
i) Percentage of shares held by Government of India
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
ii) Capital adequacy ratio
|
|
20.20
|
%
|
|
17.38
|
%
|
|
19.41
|
%
|
|
|
|
iii) Earnings per share (EPS)
|
|
|
|
|
|
|
|
|
|
a) Basic EPS before and after extraordinary items, net of tax
expenses (not annualised for quarter) (in Rs.)
|
|
9.20
|
|
|
7.89
|
|
|
36.14
|
|
|
|
|
b) Diluted EPS before and after extraordinary items, net of tax
expenses (not annualised for quarter) (in Rs.)
|
|
9.16
|
|
|
7.87
|
|
|
35.99
|
|
|
18.
|
|
NPA Ratio1
|
|
|
|
|
|
|
|
|
|
i) Gross non-performing advances (net of write-off)
|
|
9,829.03
|
|
|
9,416.32
|
|
|
9,480.65
|
|
|
|
|
ii) Net non-performing advances
|
|
3,456.18
|
|
|
4,607.84
|
|
|
3,841.11
|
|
|
|
|
iii) % of gross non-performing advances (net of write-off) to gross
advances
|
|
5.14
|
%
|
|
4.63
|
%
|
|
5.06
|
%
|
|
|
|
iv) % of net non-performing advances to net advances
|
|
1.87
|
%
|
|
2.33
|
%
|
|
2.12
|
%
|
|
19.
|
|
Return on assets (annualised)
|
|
1.15
|
%
|
|
0.95
|
%
|
|
1.13
|
%
|
|
20.
|
|
Public shareholding
|
|
|
|
|
|
|
|
|
|
i) No. of shares
|
|
1,115,458,683
|
|
|
1,113,324,087
|
|
|
1,114,845,314
|
|
|
|
|
ii) Percentage of shareholding
|
|
100
|
|
|
100
|
|
|
100
|
|
|
21.
|
|
Promoter and promoter group shareholding
|
|
|
|
|
|
|
|
|
|
i) Pledged/encumbered
|
|
|
|
|
|
|
|
|
|
a) No. of shares
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
b) Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
c) Percentage of shares (as a % of the total share capital of the
Bank)
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
ii) Non-encumbered
|
|
|
|
|
|
|
|
|
|
a) No. of shares
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
b) Percentage of shares (as a % of the total shareholding of
promoter and promoter group)
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
c) Percentage of shares (as a % of the total share capital of the
Bank)
|
|
..
|
|
|
..
|
|
|
..
|
|
|
1. The percentage of gross non-performing customer assets to gross
customer assets was 4.45% and net non-performing customer assets
to net customer assets was 1.62% at June 30, 2010. Customer assets
include advances and credit substitutes.
|
|
|
|
SUMMARISED UNCONSOLIDATED BALANCE SHEET
|
|
(Rs. in crore)
|
|
Particulars
|
|
At
|
|
|
June 30, 2010
|
|
June 30, 2009
|
|
March 31, 2010
|
|
|
|
(Audited)
|
|
(Audited)
|
|
(Audited)
|
|
Capital and Liabilities
|
|
|
|
|
|
|
|
Capital
|
|
1,115.50
|
|
1,113.36
|
|
1,114.89
|
|
Reserves and surplus
|
|
51,707.33
|
|
49,080.07
|
|
50,503.48
|
|
Deposits
|
|
200,913.46
|
|
210,236.01
|
|
202,016.60
|
|
Borrowings (includes preference shares and subordinated debt)
|
|
94,997.21
|
|
91,231.37
|
|
94,263.57
|
|
Other liabilities
|
|
15,263.63
|
|
15,758.11
|
|
15,501.17
|
|
Total Capital and Liabilities
|
|
363,997.13
|
|
367,418.92
|
|
363,399.71
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
Cash and balances with Reserve Bank of India
|
|
20,381.81
|
|
18,446.34
|
|
27,514.29
|
|
Balances with banks and money at call and short notice
|
|
10,063.63
|
|
12,081.42
|
|
11,359.40
|
|
Investments
|
|
127,571.18
|
|
114,246.93
|
|
120,892.80
|
|
Advances
|
|
184,378.09
|
|
198,101.87
|
|
181,205.60
|
|
Fixed assets
|
|
4,289.12
|
|
3,674.85
|
|
3,212.69
|
|
Other assets
|
|
17,313.30
|
|
20,867.51
|
|
19,214.93
|
|
Total Assets
|
|
363,997.13
|
|
367,418.92
|
|
363,399.71
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED FINANCIAL RESULTS
|
|
(Rs. in crore)
|
|
Sr. No.
|
|
Particulars
|
|
Three months ended
|
|
Year ended
|
|
|
|
June 30, 2010
|
|
June 30, 2009
|
|
March 31, 2010
|
|
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
1.
|
|
Total income
|
|
13,535.31
|
|
14,615.06
|
|
59,599.77
|
|
2.
|
|
Net profit
|
|
1,091.00
|
|
1,035.26
|
|
4,670.29
|
|
3.
|
|
Earnings per share (EPS)
|
|
|
|
|
|
|
|
|
|
a) Basic EPS (not annualised for quarter) (in Rs.)
|
|
9.78
|
|
9.30
|
|
41.93
|
|
|
|
b) Diluted EPS (not annualised for quarter) (in Rs.)
|
|
9.74
|
|
9.27
|
|
41.72
|
|
|
|
|
|
|
|
|
|
|
|
UNCONSOLIDATED SEGMENTAL RESULTS OF ICICI BANK LIMITED
|
|
(Rs. in crore)
|
|
Sr. No.
|
|
Particulars
|
|
Three months ended
|
|
Year ended
|
|
|
|
June 30, 2010
|
|
June 30, 2009
|
|
March 31, 2010
|
|
|
|
|
|
(Audited)
|
|
(Audited)
|
|
(Audited)
|
|
1.
|
|
Segment revenue
|
|
|
|
|
|
|
|
a
|
|
Retail Banking
|
|
3,827.78
|
|
|
4,936.18
|
|
|
17,724.41
|
|
|
b
|
|
Wholesale Banking
|
|
4,214.89
|
|
|
5,593.90
|
|
|
19,254.13
|
|
|
c
|
|
Treasury
|
|
5,518.80
|
|
|
7,363.59
|
|
|
24,797.80
|
|
|
d
|
|
Other Banking
|
|
73.75
|
|
|
53.91
|
|
|
437.57
|
|
|
|
|
Total segment revenue
|
|
13,635.22
|
|
|
17,947.58
|
|
|
62,213.91
|
|
|
|
|
Less: Inter segment revenue
|
|
6,142.17
|
|
|
8,724.26
|
|
|
29,029.33
|
|
|
|
|
Income from operations
|
|
7,493.05
|
|
|
9,223.32
|
|
|
33,184.58
|
|
|
2.
|
|
Segmental results (i.e. Profit before tax)
|
|
|
|
|
|
|
|
a
|
|
Retail Banking
|
|
(217.33
|
)
|
|
(437.33
|
)
|
|
(1,333.51
|
)
|
|
b
|
|
Wholesale Banking
|
|
929.84
|
|
|
576.65
|
|
|
3,645.10
|
|
|
c
|
|
Treasury
|
|
656.15
|
|
|
1,097.99
|
|
|
2,788.64
|
|
|
d
|
|
Other Banking
|
|
21.59
|
|
|
(31.84
|
)
|
|
245.09
|
|
|
|
|
Total segment results
|
|
1,390.25
|
|
|
1,205.47
|
|
|
5,345.32
|
|
|
|
|
Unallocated expenses
|
|
..
|
|
|
..
|
|
|
..
|
|
|
|
|
Profit before tax
|
|
1,390.25
|
|
|
1,205.47
|
|
|
5,345.32
|
|
|
3.
|
|
Capital employed (i.e. Segment assets - Segment liabilities)
|
|
|
|
|
|
|
|
a
|
|
Retail Banking
|
|
(54,123.90
|
)
|
|
(25,073.15
|
)
|
|
(44,905.31
|
)
|
|
b
|
|
Wholesale Banking
|
|
40,181.79
|
|
|
18,016.68
|
|
|
26,929.31
|
|
|
c
|
|
Treasury
|
|
61,325.72
|
|
|
53,610.40
|
|
|
63,238.40
|
|
|
d
|
|
Other Banking
|
|
547.30
|
|
|
600.58
|
|
|
470.63
|
|
|
e
|
|
Unallocated
|
|
4,891.92
|
|
|
3,038.92
|
|
|
5,885.34
|
|
|
|
|
Total
|
|
52,822.83
|
|
|
50,193.43
|
|
|
51,618.37
|
|
|
Notes on segmental results:
|
|
|
|
1. The disclosure on segmental reporting has been prepared in
accordance with Reserve Bank of India (RBI) circular no.
DBOD.No.BP.BC.81/21.04.018/2006-07 dated April 18, 2007 on
guidelines on enhanced disclosures on " Segmental Reporting" which
is effective from the reporting period ended March 31, 2008.
|
|
2. "Retail Banking" includes exposures which satisfy the four
criteria of orientation, product, granularity and low value of
individual exposures for retail exposures laid down in Basel
Committee on Banking Supervision document "International
Convergence of Capital Measurement and Capital Standards: A
Revised Framework" .
|
|
3. "Wholesale Banking" includes all advances to trusts,
partnership firms, companies and statutory bodies, which are not
included under Retail Banking.
|
|
4. "Treasury" includes the entire investment portfolio of the Bank.
|
|
5. "Other Banking" includes hire purchase and leasing operations
and other items not attributable to any particular business
segment.
|
|
|
Notes:
1. The financial statements have been prepared in accordance with
Accounting Standard (AS) 25 on 'Interim Financial Reporting'.
2. On May 23, 2010, the Board of Directors of ICICI Bank Limited (ICICI
Bank) and the Board of Directors of The Bank of Rajasthan Limited (Bank
of Rajasthan) at their respective meetings approved an all-stock merger
of Bank of Rajasthan with ICICI Bank at a share exchange ratio of 25
shares of ICICI Bank for 118 shares of Bank of Rajasthan. Following the
convening of extraordinary general meetings held on June 21, 2010 and
receipt of approval from shareholders of ICICI Bank and Bank of
Rajasthan, both ICICI Bank and Bank of Rajasthan have applied to the
Reserve Bank of India for its approval for the proposed merger under
Section 44A of the Banking Regulation Act, 1949.
3. With respect to consolidated financial results, the loss after tax of
ICICI Prudential Life Insurance Company (ICICI Life) for the quarter
ended June 30, 2010 was Rs. 115.89 crore. For the quarter ended June 30,
2010, there was a surplus of Rs. 234.71 crore in the non-participating
policyholders' funds. The surplus in the non-participating funds would
be transferred at the end of the financial year based on the appointed
actuary's recommendation. If this surplus were transferred in the
quarter ended June 30, 2010, the net profit after tax of ICICI Life for
the quarter would have been Rs. 118.82 crore and the Bank's consolidated
net profit after tax for the quarter would have been Rs. 1,264.43 crore.
4. The provision coverage ratio of the Bank at June 30, 2010, computed
as per the RBI circular dated December 1, 2009, is 64.8% (March 31,
2010: 59.5%). The Bank has been permitted by RBI to achieve the
stipulated level of 70% in a phased manner by March 31, 2011.
5. During the three months ended June 30, 2010, the Bank has allotted
613,369 equity shares of Rs. 10.00 each pursuant to exercise of employee
stock options.
6. Status of equity investors' complaints/grievances for the three
months ended June 30, 2010:
|
Opening balance
|
|
Additions
|
|
Disposals
|
|
Closing balance
|
|
4
|
|
30
|
|
31
|
|
3
|
7. Previous period/year figures have been re-grouped/re-classified where
necessary to conform to current period classification.
8. The above financial results have been approved by the Board of
Directors at its meeting held on July 31, 2010.
9. The above unconsolidated financial results are audited by the
statutory auditors, S.R. Batliboi & Co., Chartered Accountants.
10. Rs. 1 crore = Rs. 10 million.
|
Place : Mumbai
|
|
|
|
|
|
|
N. S. Kannan
|
|
Date : July 31, 2010
|
|
|
|
|
|
|
Executive Director & CFO
|
ICICI Bank
Charudatta Deshpande, 91-22-2653 8208 (Press)
charudatta.deshpande@icicibank.com
Ranju
Sigtia, 91-22-2653 6198 (Investors)
ir@icicibank.com
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