ICICI Bank 2015 Annual Report Download - page 175

173Annual Report 2014-2015
forming part of the Accounts (Contd.)
Schedules
Financial Statements of ICICI Bank Limited
Sale of fixed assets
During the year ended March 31, 2015, the Bank sold fixed assets to its subsidiaries amounting to ` 0.7 million
(March 31, 2014: ` 2.6 million) and to its associates/joint ventures/other related entities amounting to Nil (March 31, 2014:
` 2.7 million). The material transactions for the year ended March 31, 2015 were with ICICI Venture Management Fund
Limited amounting to ` 0.7 million (March 31, 2014: Nil), India Infradebt Limited amounting to Nil (March 31, 2014:
` 2.7 million) and with ICICI Prudential Life Insurance Company Limited amounting to Nil (March 31, 2014: ` 2.2 million).
Purchase of fixed assets
During the year ended March 31, 2015, the Bank purchased fixed assets from ICICI Prudential Life Insurance Company
Limited amounting to ` 23.0 million (March 31, 2014: ` 4.2 million).
Donation
During the year ended March 31, 2015, the Bank has given donation to ICICI Foundation for Inclusive Growth amounting
to ` 260.0 million (March 31, 2014: ` 125.0 million).
Purchase of loan
During the year ended March 31, 2015, the Bank purchased loans from ICICI Bank Eurasia Limited Liability Company
amounting to ` 1,138.1 million (March 31, 2014: Nil) and from ICICI Bank UK PLC amounting to Nil (March 31, 2014:
` 3,820.4 million).
Sale of loan
During the year ended March 31, 2015, the Bank sold loan (including undisbursed loan commitment) to ICICI Bank UK
PLC amounting to Nil (March 31, 2014: ` 2,696.2 million).
Risk participation
During the year ended March 31, 2015, the Bank has entered into funded risk participation with ICICI Bank UK PLC
amounting to ` 4,101.6 million and entered into unfunded risk participation with ICICI Bank Canada amounting to
` 312.5 million.
Purchase of bank guarantees
Bank guarantees issued by ICICI Bank UK PLC on behalf of its clients amounting to ` 1,329.4 million were transferred
to the Bank during the year ended March 31, 2015 (March 31, 2014: Nil).
Letters of Comfort
The Bank has issued letters of comfort on behalf of its banking subsidiaries. The details of the letters are given below.-
On behalf of To Purpose
ICICI Bank UK PLC Financial Services Authority,
UK (‘FSA’)1
Financially support ICICI Bank UK PLC to ensure that it meets all of its
obligations as they fall due.
ICICI Bank Canada Canada Deposit Insurance
Corporation (‘CDIC’)
To comply with the Bank Act and the CDIC regulations or by-laws
thereunder and to indemnify CDIC against all losses, damages,
reasonable costs and expenses arising from failure of ICICI Bank
Canada in performing the same.
1. FSA has split into two separate regulatory authorities, the Prudential Regulation Authority (PRA) and the Financial Conduct
Authority (FCA).
The Bank has issued an undertaking on behalf of ICICI Securities Inc. for Singapore dollar 10.0 million (currently
equivalent to ` 454.8 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 ` 122.6 million) each, aggregating to Canadian dollar 17.5 million (currently equivalent to ` 858.1 million).
The aggregate amount of ` 1,312.9 million at March 31, 2015 (March 31, 2014: ` 2,564.0 million) is included in the
contingent liabilities.