ICICI Bank Performance Review - Quarter ended December 31, 2005: 24% Year-on-Year Growth in Profit after Tax.MUMBAI Mumbai (m  mbī`, m m`bī), formerly Bombay (bŏmbā`), city (1991 pop. , India India, officially Republic of India, republic (2005 est pop. 1,080,264,000), 1,261,810 sq mi (3,268,090 sq km), S Asia. The second most populous country in the world, it is also sometimes called Bharat, its ancient name. India's land frontier (c. -- The Board of Directors of ICICI Bank ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank in market capitalization and second largest overall in terms of assets. Limited
(NYSE NYSESee: New York Stock Exchange :IBN IBN Internet Business Network IBN Institute of Bioengineering and Nanotechnology IBN Institut Belge de Normalisation IBN Islamic Broadcasting Network IBN Integrated Business Network IBN Identification Beacon IBN Isolated Bonding Network ) at its meeting held at Mumbai today, approved the audited Indian GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). accounts of the Bank for the quarter ended December December: see month. 31, 2005 (Q3-2006). Highlights --Profit after tax for Q3-2006 increased 24% to Rs. 640 crore n. 1. Ten millions; as, a crore of rupees (which is nearly $5,000,000) s>. Noun 1. crore - the number that is represented as a one followed by 7 zeros; ten million (US$ 142 million) from Rs. 518 crore (US$ 115 million) for the quarter ended December 31, 2004 (Q3-2005). --Operating profit for Q3-2006 increased 55% to Rs. 1,194 crore (US$ 265 million) from Rs. 771 crore (US$ 171 million) for Q3-2005. --Net interest income increased 59% to Rs. 1,167 crore (US$ 259million) for Q3-2006 from Rs. 733 crore (US$ 163 million) for Q3-2005. --Fee income increased 52% to Rs. 846 crore (US$ 188 million) for Q3-2006 from Rs. 558 crore (US$ 124 million) for Q3-2005. --Retail assets increased 70% to Rs. 78,495 crore (US$ 17.4 billion) at December 31, 2005 from Rs. 46,194 crore (US$ 10.3 billion) at December 31, 2004. The Bank has the largest retail asset portfolio among Indian banks Indian Bank, established in 1907, is a major Indian commercial bank headquartered in Chennai (Madras), India. It has 22000 employees and 1400 branches and is one of the big public sector banks of India. and finance companies. --Deposits increased 63% to Rs. 133,881 crore (US$ 29.7 billion) at December 31, 2005 from Rs. 81,928 crore (US$ 18.2 billion) at December 31, 2004. --At December 31, 2005, the Bank's net non-performing assets constituted 0.80% of customer assets against 2.29% at December 31, 2004. --Profit after tax increased 26% to Rs. 1,750 crore (US$ 388 million) for the nine months ended December 31, 2005 (9M-2006) from Rs. 1,391 crore (US$ 309 million) for the nine months ended December 31, 2004 (9M-2005). Capital raising The Bank successfully concluded its capital raising exercise, raising a total of Rs. 8,000 crore (US$ 1.8 billion) through the first simultaneous public issue in India and American Depositary Share American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS) issue in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with a Public Offering Without Listing (POWL POWL Public Offering Without Listing (Japan) ) in Japan. The public issue was subscribed Subscribed Newly issued securities that an investor has agree to, or stated his intent to, buy in a public offering prior to the issue date. When an investor uses rights, he expects to own the designated number of shares they have subscribed to once the offering is completed. approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 7 times. The equity shares and ADSs were priced at less than 1% discount to the last closing price on stock exchanges in India and the United States respectively. Operating review Credit growth Bank's net customer assets increased 50% to Rs. 127,319 crore (US$ 28.3 billion) at December 31, 2005 compared to Rs. 84,859 crore (US$ 18.8 billion) at December 31, 2004. The Bank maintained its growth momentum and market leadership in the retail segment. In 9M-2006, the Bank's total retail disbursements were about Rs. 43,200 crore (US$ 9.6 billion) including home loan disbursements of about Rs. 17,600 crore (US$ 3.9 billion). Retail assets constituted 64% of advances and 62% of customer assets. The Bank is focusing on loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in the retail and agriculture segments and on non-fund based products and services, as well as capitalising on opportunities presented by the domestic and international expansion of Indian companies This is a list of major companies based in India. Please note that the list is highly incomplete and does not have every company of all sizes. More information about the companies can be found in the links to the company articles. A
International operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ICICI Bank continued to build on its existing presence in various geographies as well as enter new markets. In addition to providing credit and trade finance solutions to Indian companies, the Bank is expanding its international retail franchise through technology-based banking services. Since October October: see month. 2005, the Bank has opened branches in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Dubai Dubai (d bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf. and Sri Lanka Sri Lanka (srē läng`kə) [Sinhalese,=resplendent land], formerly Ceylon, ancient Taprobane, officially Democratic Socialist Republic of Sri Lanka, island republic (2005 est. pop. . The Bank's wholly-owned banking
subsidiaries in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of and the United Kingdom also opened additional
branches during the quarter. The Bank continued to grow its remittance Money sent from one individual to another in the form of cash, check, or some other manner.Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. volumes and establish an international private banking franchise, focusing on the non-resident Indian community. Rural banking The Bank's rural banking strategy seeks to adopt a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. needs of various segments of the rural population, by delivering a comprehensive product suite encompassing credit, transaction banking, deposit, investment and insurance, through a range of channels. The Bank's rural delivery channels include branches, internet kiosks, franchisees and micro-finance institution (MFI MFI Microfinance Institution MFI Money Flow Index MFI Melt Flow Index MFI Median Family Income MFI Malaria Foundation International MFI Massachusetts Family Institute MFI Multi-port Fuel Injection (automobile) ) partners. Network The Bank had 601 branches and extension counters at December 31, 2005 as compared to 505 branches and extension counters at December 31, 2004. Capital adequacy The Bank's capital adequacy at December 31, 2005 was 14.5% (including Tier-1 capital adequacy of 10.5%), excluding Rs. 750 crore on account of the green shoe option and Rs. 555 crore on account of partly paid shares issued to retail investors Retail Investor Individual investors who buy and sell securities for their personal account, and not for another company or organization. Notes: Retail investors buy in much smaller quantities than larger institutional investors. , compared to RBI's requirement of total capital adequacy of 9.0%. Asset quality The Bank's net restructured assets at December 31, 2005 were Rs. 5,437 crore (US$ 1.2 billion), down from Rs. 6,792 crore (US$ 1.5 billion) at December 31, 2004. At December 31, 2005, the Bank's net non-performing assets constituted 0.80% of customer assets against 2.29% at December 31, 2004. During Q3-2006, the Bank sold net non-performing assets of Rs. 258 crore (US$ 57 million) through the first auction of non-performing assets in India. Group companies ICICI ICICI Industrial Credit and Investment Corporation of India Securities achieved a profit after tax of Rs. 29 crore (US$ 6 million) in Q3-2006. ICICI Lombard ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI Bank Limited and the US-based $26 billion Fairfax Financial Holdings Limited. ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified financial corporate General Insurance Company (ICICI Lombard) enhanced its leadership position among private sector general insurance companies with a market share of 31% during April-November 2005. ICICI Lombard achieved a profit after tax of Rs. 10 crore (US$ 2 million) in Q3-2006. ICICI Prudential Prudential is the name of two different companies and buildings named after them: Companies:
1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations , in view of business set-up and customer acquisition costs in the initial years as well as reserving for actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin liability. While the growing operations of ICICI Prudential Life had a negative impact of Rs. 49 crore (US$ 11 million) on the Bank's consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: profit after tax in Q3-2006 on account of the above reasons, the company's unaudited New Business Achieved Profit (NBAP NBAP Node B Application Part (UMTS network) NBAP National Beef Ambassador Program (National Beef Association) NBAP National Biodiesel Accreditation Program ) for Q3-2006 was Rs. 142 crore (US$ 32 million). NBAP is a metric for the economic value of the new business written during a defined period. It is measured as the present value of all the future profits for the shareholders, on account of the new business based on standard assumptions of mortality, expenses and other parameters. Internationally, life insurance companies in the growth phase are valued as a multiple of their NBAP. Prudential ICICI Asset Management Company was the largest private sector mutual fund in India at December 31, 2005 with assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of over Rs. 22,000 crore (US$ 4.9 billion).
Summary Profit and Loss Statement - Indian GAAP
Rs. crore
Growth
Q3-2005 Q3-2006 over 9M-2005 9M-2006 FY2005
Q3-2005
-------------------- -------- ------- ------- -------- -------- ------
Net interest income 733 1,167 59% 2,049 2,971 2,839
-------------------- -------- ------- ------- -------- -------- ------
Non-interest income
(excluding
treasury) 692 1,011 46% 1,969 2,790 2,705
-------------------- -------- ------- ------- -------- -------- ------
- Fee income 558 846 52% 1,513 2,208 2,098
-------------------- -------- ------- ------- -------- -------- ------
- Lease & other
income 134 165 23% 456 582 607
-------------------- -------- ------- ------- -------- -------- ------
Treasury income 199 168 (16%) 415 591 711
-------------------- -------- ------- ------- -------- -------- ------
Less:
-------------------- -------- ------- ------- -------- -------- ------
Operating expense 644 904 40% 1,795 2,490 2,517
-------------------- -------- ------- ------- -------- -------- ------
Other DMA(1) expense 138 172 25% 335 449 485
-------------------- -------- ------- ------- -------- -------- ------
Lease depreciation 71 76 6% 224 204 297
-------------------- -------- ------- ------- -------- -------- ------
Operating profit 771 1,194 55% 2,079 3,209 2,956
-------------------- -------- ------- ------- -------- -------- ------
Provisions(2) 108 395(3) 266% 349 997(3) 429
-------------------- -------- ------- ------- -------- -------- ------
Profit before tax 663 799 21% 1,730 2,212 2,527
-------------------- -------- ------- ------- -------- -------- ------
Less: Tax 145 159 10% 339 462 522
-------------------- -------- ------- ------- -------- -------- ------
Profit after tax 518 640 24% 1,391 1,750 2,005
-------------------- -------- ------- ------- -------- -------- ------
1. Direct marketing agencies / associates.
2. Includes Rs. 74 crore on account of amortization of premium on
government securities in Q3-2005, Rs. 220 crore in Q3-2006,
Rs. 182 crore in 9M-2005 and Rs. 559 crore in 9M-2006.
3. RBI has increased the requirement of general provisioning on
standard loans (excluding loans to agriculture sector and
small and medium enterprises) to 0.40% compared to 0.25%
applicable till September 30, 2005. In accordance with the
revised guidelines on general provisioning on standard loans,
the Bank has made general provision of Rs. 248 crore during
9M-2006. The Bank has reassessed its provision requirement on
performing loans and non-performing loans on a portfolio basis
at December 31, 2005. Based on this reassessment, the Bank has
written back an amount of Rs. 169 crore from its existing
provisions against non-performing loans which were in excess
of the regulatory requirement.
4. The Bank has aligned its accounting policy for subvention
income with its accounting policy for direct marketing agency/
associate expenses. Accordingly, subvention income has been
accounted for in the period in which it is received instead of
over the period of the loan. As a result of the change in
policy, the profit after tax for 9M-2006 is higher by Rs. 50
crore.
5. All figures have been rounded off to the nearest crore.
Except for the historical information contained herein, statements in this Release which contain words or phrases such as "will," "would," "indicating," "expected to" etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, future levels of non-performing loans A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. , our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections A Cash Flow Projection is an attempt to forecast the cash flows that will be generated by an asset, often a company, over a specified time frame. Methodology Projections can be made with varying levels of detail, but any cash flow projection for a business entails , our exposure to market risks as well as other risks 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date thereof. 1 crore = 10.0 million US$ amounts represent convenience translations at US$1= Rs. 45.05.
AUDITED FINANCIAL RESULTS
(Rs. in crore)
Quarter ended
Sr. Particulars --------------------------------
No. December 31, December 31,
2005 2004
----------------------------------------------------------------------
1. Interest earned
(a)+(b)+(c)+(d) 3,583.61 2,378.36
------------------------------------------------------------------
(a) Interest/discount on
advances/bills 2,534.59 1,709.91
------------------------------------------------------------------
(b) Income on investments 962.80 589.42
------------------------------------------------------------------
(c) Interest on balances with
Reserve Bank of India and
other interbank funds 75.60 46.70
------------------------------------------------------------------
(d) Others 10.62 32.33
----------------------------------------------------------------------
2. Other income 1,179.17 890.73
------------------------------------------------------------------
A) TOTAL INCOME (1) + (2) 4,762.78 3,269.09
----------------------------------------------------------------------
3. Interest expended 2,416.88 1,645.21
----------------------------------------------------------------------
4. Operating expenses (e) +
(f) + (g) 1,151.41 852.66
------------------------------------------------------------------
(e) Payments to and provisions for
employees 274.00 184.62
------------------------------------------------------------------
(f) Direct marketing agency
expenses 171.87 138.00
----------------------------------------------------------------------
(g) Other operating expenses 705.54 530.04
----------------------------------------------------------------------
B) TOTAL EXPENDITURE (3) +
(4) (excluding provisions
and contingencies) 3,568.29 2,497.87
----------------------------------------------------------------------
5. OPERATING PROFIT (A-B)
(Profit before provisions
and contingencies) 1,194.49 771.22
----------------------------------------------------------------------
6. Other provisions and contingencies 395.07 108.23
----------------------------------------------------------------------
7. Provision for taxes
----------------------------------------------------------------------
a) Current period tax 102.99 (50.56)
----------------------------------------------------------------------
b) Deferred tax adjustment 56.35 195.87
----------------------------------------------------------------------
8. Net profit (5-6-7) 640.08 517.68
----------------------------------------------------------------------
9. Paid-up equity share
capital (face value Rs. 10/-) 873.78 735.89
----------------------------------------------------------------------
10. Reserves excluding
revaluation reserves 20,177.59 11,899.26
----------------------------------------------------------------------
11. Analytical ratios
----------------------------------------------------------------------
(i) Percentage of shares held by
Government of India
------------------------------------------------------------------
(ii) Capital adequacy ratio 14.53% 13.50%
------------------------------------------------------------------
(iii) Earnings per share for the
period (not annualised for
quarter/period) (in Rs.)
(basic) 8.38 7.04
------------------------------------------------------------------
(iv) Earnings per share for the
period (not annualised for
quarter/period) (in Rs.)
(diluted) 8.29 6.99
----------------------------------------------------------------------
12. Aggregate of non-promoter
shareholding
------------------------------------------------------------------
-- No. of shares 875,127,259 735,928,149
------------------------------------------------------------------
-- Percentage of shareholding 100 100
----------------------------------------------------------------------
13. Deposits 133,881.49 81,928.28
----------------------------------------------------------------------
14. Advances 122,612.85 76,961.13
----------------------------------------------------------------------
15. Total assets 212,431.69 146,214.18
----------------------------------------------------------------------
Nine month period ended Year ended
Sr. Particulars ---------------------------------------------
No. December 31, December 31, March 31,
2005 2004 2005
------------------------------------------------------------------
1. Interest earned
(a)+(b)+(c)+(d) 9,794.70 6,804.66 9,409.90
------------------------------------------------------------------
(a) Interest/discount
on advances/bills 6,854.68 4,867.73 6,752.83
------------------------------------------------------------------
(b) Income on
investments 2,649.25 1,637.10 2,229.44
------------------------------------------------------------------
(c) Interest on
balances with
Reserve Bank of
India and other
interbank funds 231.16 166.15 232.01
------------------------------------------------------------------
(d) Others 59.61 133.68 195.62
----------------------------------------------------------------------
2. Other income 3,381.22 2,383.84 3,416.14
------------------------------------------------------------------
A) TOTAL INCOME (1)
+ (2) 13,175.92 9,188.50 12,826.04
----------------------------------------------------------------------
3. Interest expended 6,823.24 4,755.75 6,570.89
----------------------------------------------------------------------
4. Operating expenses
(e) + (f) + (g) 3,143.35 2,353.92 3,299.15
------------------------------------------------------------------
Payments to and provisions
for employees 744.20 531.50 737.41
------------------------------------------------------------------
Direct marketing
agency expenses 449.13 334.71 485.45
----------------------------------------------------------------------
Other operating
expenses 1,950.02 1,487.71 2,076.29
----------------------------------------------------------------------
B) TOTAL EXPENDITURE
(3) + (4) (excluding
provisions and
contingencies) 9,966.59 7,109.67 9,870.04
----------------------------------------------------------------------
5. OPERATING PROFIT
(A-B) (Profit before
provisions and
contingencies) 3,209.33 2,078.83 2,956.00
----------------------------------------------------------------------
6. Other provisions and
contingencies 996.74 348.77 428.80
----------------------------------------------------------------------
7. Provision for taxes
----------------------------------------------------------------------
a) Current period tax 451.35 216.41 179.49
----------------------------------------------------------------------
b) Deferred tax
adjustment 11.10 123.15 342.51
----------------------------------------------------------------------
8. Net profit (5-6-7) 1,750.14 1,390.50 2,005.20
----------------------------------------------------------------------
9. Paid-up equity share
capital (face value Rs.
10/-) 873.78 735.89 736.78
----------------------------------------------------------------------
10. Reserves excluding
revaluation
reserves 20,177.59 11,899.26 11,813.20
----------------------------------------------------------------------
11. Analytical ratios
----------------------------------------------------------------------
(i) Percentage of
shares held by
Government of
India
------------------------------------------------------------------
(ii) Capital adequacy
ratio 14.53% 13.50% 11.78%
------------------------------------------------------------------
(iii) Earnings per
share for the
period (not
annualised for
quarter/period)
(in Rs.)
(basic) 23.42 19.18 27.55
------------------------------------------------------------------
(iv) Earnings per
share for the
period (not
annualised for
quarter/period)
(in Rs.)
(diluted) 23.17 19.03 27.33
----------------------------------------------------------------------
12. Aggregate of non-
promoter
shareholding
------------------------------------------------------------------
-- No. of shares 875,127,259 735,928,149 736,716,094
------------------------------------------------------------------
-- Percentage of
shareholding 100 100 100
----------------------------------------------------------------------
13. Deposits 133,881.49 81,928.28 99,818.78
----------------------------------------------------------------------
14. Advances 122,612.85 76,961.13 91,405.15
----------------------------------------------------------------------
15. Total assets 212,431.69 146,214.18 167,659.41
----------------------------------------------------------------------
Notes
1. The financials have been prepared in accordance with Accounting
Standard ("AS") 25 on "Interim Financial Reporting".
2. In December the Bank issued 67,787,322 and 28,894,060 equity shares
of Rs. 10.00 each at a price of Rs. 525.00 and Rs. 498.75 per
share respectively, aggregating to Rs. 4,999.92 crore. Of these,
15,905,240 equity shares were partly paid up (Rs. 9.00 of face
value and Rs. 141.00 of premium paid up) at December 31, 2005. At
December 31, 2005, the bank had an option of issuing upto
14,285,714 new equity shares under the green shoe option which has
since been exercised.
3. The Bank has issued 18,618,730 American Depository Shares (ADS)
including green shoe option of 2,428,530 ADSs at US$ 26.75 per
share, representing 37,237,460 underlying equity shares of Rs.
10.00 each, aggregating to Rs. 2,250.69 crore.
4. During the quarter ended December 31, 2005, the Bank allotted
327,300 equity shares pursuant to exercise of employee stock
options.
5. Status of equity investors' complaints/ grievances for the quarter
ended December 31, 2005.
Opening Closing
balance Additions(a) Disposals(b) balance(c)
----------------------------------------------------------------------
8 1,391 1,386 13
----------------------------------------------------------------------
(a) Includes 1,303 complaints relating to the public issue of
shares by the Bank in December 2005.
(b) Includes 1,300 complaints relating to the public issue of
shares by the Bank in December 2005.
(c) Of these, five complaints (including two relating to the
public issue) have since been resolved.
6. Provision for current period tax includes Rs. 6.30 crore towards
provision for fringe benefit tax for the quarter ended December
31, 2005 (Rs. 17.30 crore for the nine-month period ended December
31, 2005).
7. The Reserve Bank of India has increased the requirement of general
provisioning on standard loans (excluding loans to agriculture
sector and small and medium enterprises) to 0.40% compared to
0.25% applicable till September 30, 2005. In accordance with the
revised guidelines on general provisioning on standard loans, the
Bank has made general provision of Rs. 248.33 crore during the
nine-month period ended December 31, 2005. The Bank has reassessed
its provision requirement on performing loans and non-performing
loans on a portfolio basis at December 31, 2005. Based on this
reassessment, the Bank has written back an amount of Rs. 169.22
crore from its existing provisions against non-performing loans
which were in excess of the regulatory requirement.
8. The Bank has aligned its accounting policy for subvention income
with its accounting for direct marketing agency/associate
expenses. Accordingly subvention income has been accounted for in
the period in which it is received instead of over the period of
the loan. As a result of the change in policy, the profit after
tax for the nine-month period ended December 31, 2005 is higher by
Rs. 50.22 crore.
9. Previous period / year figures have been regrouped / reclassified
where necessary to conform to current period classification.
The above financial results have been taken on record by the Board of
Directors at its meeting held on January 20, 2006.
SEGMENTAL INFORMATION OF ICICI BANK LIMITED FOR THE
PERIOD ENDED DECEMBER 31, 2005
(Rs. in crore)
Quarter ended
Sr. Particulars --------------------------------
No. December December
31, 2005 31, 2004
----------------------------------------------------------------------
1. Segment revenue
----------------------------------------------------------------------
a Consumer and commercial banking 3,823.11 2,591.24
----------------------------------------------------------------------
b Investment banking 1,186.12 807.32
----------------------------------------------------------------------
Total 5,009.23 3,398.56
----------------------------------------------------------------------
Less: Inter segment revenue 246.45 129.47
----------------------------------------------------------------------
Income from operations 4,762.78 3,269.09
----------------------------------------------------------------------
----------------------------------------------------------------------
2. Segmental results
(i.e. Profit before tax &
provision)
----------------------------------------------------------------------
a Consumer and commercial banking 954.48 387.37
----------------------------------------------------------------------
b Investment banking 249.61 393.45
----------------------------------------------------------------------
Total 1,204.09 780.82
----------------------------------------------------------------------
----------------------------------------------------------------------
3. Provisions
----------------------------------------------------------------------
a Consumer and commercial banking 170.13 (118.35)
----------------------------------------------------------------------
b Investment banking 224.94 226.58
----------------------------------------------------------------------
Total 395.07 108.23
----------------------------------------------------------------------
----------------------------------------------------------------------
Segment results (i.e. Profit
4. before tax)
----------------------------------------------------------------------
a Consumer and commercial banking 784.35 505.72
----------------------------------------------------------------------
b Investment banking 24.67 166.87
----------------------------------------------------------------------
----------------------------------------------------------------------
5. Unallocated expense 9.60 9.60
----------------------------------------------------------------------
----------------------------------------------------------------------
Total profit before tax 799.42 662.99
----------------------------------------------------------------------
Tax 159.34 145.31
----------------------------------------------------------------------
Profit after tax 640.08 517.68
----------------------------------------------------------------------
----------------------------------------------------------------------
6. Capital employed (i.e. segment
assets - segment liabilities
excluding inter-segmental funds
lent and borrowed)
----------------------------------------------------------------------
a Consumer and commercial banking (21,594.05) (19,996.15)
----------------------------------------------------------------------
b Investment banking 40,223.76 30,277.52
----------------------------------------------------------------------
Total 18,629.71 10,281.37
----------------------------------------------------------------------
Nine month period ended Year ended
Sr. Particulars ---------------------------------------------
No. December December March
31, 2005 31, 2004 31, 2005
----------------------------------------------------------------------
1. Segment revenue
----------------------------------------------------------------------
a Consumer and
commercial banking 10,564.13 7,686.13 10,643.69
----------------------------------------------------------------------
b Investment banking 3,530.11 2,139.85 3,092.62
----------------------------------------------------------------------
Total 14,094.24 9,825.98 13,736.31
----------------------------------------------------------------------
Less: Inter segment
revenue 918.32 637.48 910.27
----------------------------------------------------------------------
Income from
operations 13,175.92 9,188.50 12,826.04
----------------------------------------------------------------------
----------------------------------------------------------------------
2. Segmental results
(i.e. Profit before
tax & provision)
----------------------------------------------------------------------
a Consumer and
commercial banking 2,383.69 1,411.35 1,976.07
----------------------------------------------------------------------
b Investment banking 854.44 696.28 1,018.33
----------------------------------------------------------------------
Total 3,238.13 2,107.63 2,994.40
----------------------------------------------------------------------
----------------------------------------------------------------------
3. Provisions
----------------------------------------------------------------------
a Consumer and
commercial banking 376.28 124.17 81.41
----------------------------------------------------------------------
b Investment banking 620.46 224.60 347.39
----------------------------------------------------------------------
Total 996.74 348.77 428.80
----------------------------------------------------------------------
----------------------------------------------------------------------
Segment results (i.e.
4. Profit before tax)
----------------------------------------------------------------------
a Consumer and
commercial banking 2,007.41 1,287.18 1,894.66
----------------------------------------------------------------------
b Investment banking 233.98 471.68 670.94
----------------------------------------------------------------------
----------------------------------------------------------------------
5. Unallocated expense 28.80 28.80 38.40
----------------------------------------------------------------------
----------------------------------------------------------------------
Total profit before
tax 2,212.59 1,730.06 2,527.20
----------------------------------------------------------------------
Tax 462.45 339.56 522.00
----------------------------------------------------------------------
Profit after tax 1,750.14 1,390.50 2,005.20
----------------------------------------------------------------------
----------------------------------------------------------------------
6. Capital employed
(i.e. segment assets
- segment
liabilities
excluding inter-
segmental funds lent
and borrowed)
----------------------------------------------------------------------
a Consumer and
commercial banking (21,594.05) (19,996.15) (24,044.61)
----------------------------------------------------------------------
b Investment banking 40,223.76 30,277.52 34,138.32
----------------------------------------------------------------------
Total 18,629.71 10,281.37 10,093.71
----------------------------------------------------------------------
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