UNCONSOLIDATED FINANCIAL RESULTS
Sr. no. |
Particulars |
Three months ended |
Year ended |
|||
|---|---|---|---|---|---|---|
March 31, 2014 |
December 31, 2013 |
March 31, 2013 |
March 31, 2014 |
March 31, 2013 |
||
(Audited) |
(Audited) |
(Audited) |
(Audited) |
(Audited) |
||
1. |
Interest earned (a)+(b)+(c)+(d) |
11,489.25 |
11,454.95 |
10,365.33 |
44,178.15 |
40,075.60 |
a) Interest/discount on advances/bills |
8,271.59 |
8,223.83 |
6,970.69 |
31,427.93 |
27,341.11 |
|
b) Income on investments |
2,911.17 |
2,922.17 |
2,820.40 |
11,557.05 |
11,009.27 |
|
c) Interest on balances with Reserve Bank of India and other inter-bank funds |
61.62 |
33.62 |
134.29 |
199.98 |
542.98 |
|
d) Others |
244.87 |
275.33 |
439.95 |
993.19 |
1,182.24 |
|
2. |
Other income |
2,976.09 |
2,801.01 |
2,208.19 |
10,427.87 |
8,345.70 |
3. |
TOTAL INCOME (1)+(2) |
14,465.34 |
14,255.96 |
12,573.52 |
54,606.02 |
48,421.30 |
4. |
Interest expended |
7,132.73 |
7,199.89 |
6,562.11 |
27,702.59 |
26,209.19 |
5. |
Operating expenses (e)+(f) |
2,879.12 |
2,617.03 |
2,407.29 |
10,308.86 |
9,012.88 |
e) Employee cost |
1,262.26 |
996.87 |
999.74 |
4,220.11 |
3,893.29 |
|
f) Other operating expenses |
1,616.86 |
1,620.16 |
1,407.55 |
6,088.75 |
5,119.59 |
|
6. |
TOTAL EXPENDITURE (4)+(5) (excluding provisions and contingencies) |
10,011.85 |
9,816.92 |
8,969.40 |
38,011.45 |
35,222.07 |
7. |
OPERATING PROFIT (3)–(6) (Profit before provisions and contingencies) |
4,453.49 |
4,439.04 |
3,604.12 |
16,594.57 |
13,199.23 |
8. |
Provisions (other than tax) and contingencies |
713.78 |
694.64 |
460.02 |
2,626.40 |
1,802.54 |
9. |
Exceptional items |
.. |
.. |
.. |
.. |
.. |
10. |
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES BEFORE TAX (7)–(8)–(9) |
3,739.71 |
3,744.40 |
3,144.10 |
13,968.17 |
11,396.69 |
11. |
Tax expense (g)+(h) |
1,087.70 |
1,212.19 |
840.03 |
4,157.69 |
3,071.22 |
g) Current period tax |
926.17 |
1,083.46 |
842.39 |
3,844.50 |
3,005.20 |
|
h) Deferred tax adjustment |
161.53 |
128.73 |
(2.36) |
313.19 |
66.02 |
|
12. |
NET PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER TAX (10)–(11) |
2,652.01 |
2,532.21 |
2,304.07 |
9,810.48 |
8,325.47 |
13. |
Extraordinary items (net of tax expense) |
.. |
.. |
.. |
.. |
.. |
14. |
NET PROFIT/(LOSS) FOR THE PERIOD (12)–(13) |
2,652.01 |
2,532.21 |
2,304.07 |
9,810.48 |
8,325.47 |
15. |
Paid-up equity share capital (face value ` 10/- each) |
1,155.04 |
1,154.59 |
1,153.64 |
1,155.04 |
1,153.64 |
16. |
Reserves excluding revaluation reserves |
72,051.71 |
72,895.97 |
65,547.84 |
72,051.71 |
65,547.84 |
17. |
Analytical ratios |
|||||
i) Percentage of shares held by Government of India |
0.03 |
0.03 |
0.01 |
0.03 |
0.01 |
|
ii) Capital adequacy ratio |
||||||
a) Basel II |
19.08% |
17.81% |
18.74% |
19.08% |
18.74% |
|
b) Basel III |
17.70% |
16.81% |
NA |
17.70% |
NA |
|
iii) Earnings per share (EPS) |
||||||
a) Basic EPS before and after extraordinary items, net of tax expense (not annualised for three months) (in `) |
22.97 |
21.93 |
19.98 |
84.99 |
72.20 |
|
b) Diluted EPS before and after extraordinary items, net of tax expense (not annualised for three months) (in `) |
22.87 |
21.85 |
19.87 |
84.65 |
71.93 |
|
18. |
NPA Ratio1 |
|||||
i) Gross non-performing advances (net of write-off) |
10,505.84 |
10,399.13 |
9,607.75 |
10,505.84 |
9,607.75 |
|
ii) Net non-performing advances |
3,297.96 |
3,118.44 |
2,230.56 |
3,297.96 |
2,230.56 |
|
iii) % of gross non-performing advances (net of write-off) to gross advances |
3.03% |
3.05% |
3.22% |
3.03% |
3.22% |
|
iv) % of net non-performing advances to net advances |
0.97% |
0.94% |
0.77% |
0.97% |
0.77% |
|
19. |
Return on assets (annualised) |
1.86% |
1.76% |
1.82% |
1.78% |
1.70% |
20. |
Public shareholding |
|||||
i) No. of shares |
1,154,832,769 |
1,154,535,873 |
1,153,581,715 |
1,154,832,769 |
1,153,581,715 |
|
ii) Percentage of shareholding |
100 |
100 |
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 At March 31, 2014, the percentage of gross non-performing customer assets to gross customer assets was 2.56% and net non-performing customer assets to net customer assets was 0.82%. Customer assets include advances and credit substitutes.
SUMMARISED UNCONSOLIDATED BALANCE SHEET
(` in crore)
Particulars |
|||
|---|---|---|---|
March 31, 2014 |
December 31, 2013 |
March 31, 2013 |
|
(Audited) |
(Audited) |
(Audited) |
|
Capital and Liabilities |
|||
Capital |
1,155.04 |
1,154.59 |
1,153.64 |
Employees stock options outstanding |
6.57 |
6.05 |
4.48 |
Reserves and surplus |
72,051.71 |
72,895.97 |
65,547.84 |
Deposits |
331,913.66 |
316,969.54 |
292,613.63 |
Borrowings (includes preference shares and subordinated debt) |
154,759.05 |
150,940.21 |
145,341.49 |
Other liabilities and provisions |
34,755.55 |
32,159.46 |
32,133.60 |
Total Capital and Liabilities |
594,641.58 |
574,125.82 |
536,794.68 |
Assets |
|||
Cash and balances with Reserve Bank of India |
21,821.82 |
19,157.15 |
19,052.73 |
Balances with banks and money at call and short notice |
19,707.77 |
13,369.29 |
22,364.79 |
Investments |
177,021.81 |
171,984.60 |
171,393.60 |
Advances |
338,702.65 |
332,632.05 |
290,249.43 |
Fixed assets |
4,678.14 |
4,629.28 |
4,647.06 |
Other assets |
32,709.39 |
32,353.45 |
29,087.07 |
Total Assets |
594,641.58 |
574,125.82 |
536,794.68 |
CONSOLIDATED FINANCIAL RESULTS
(` in crore)
Sr. no. |
Particulars |
Three months ended |
Year ended |
|||
|---|---|---|---|---|---|---|
March 31, 2014 |
December 31, 2013 |
March 31, 2013 |
March 31, 2014 |
March 31, 2013 |
||
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Audited) |
||
1. |
Interest earned (a)+(b)+(c)+(d) |
12,846.04 |
12,839.21 |
11,580.05 |
49,479.24 |
44,884.59 |
a) Interest/discount on advances/bills |
8,880.77 |
8,796.93 |
7,501.77 |
33,720.88 |
29,562.46 |
|
b) Income on investments |
3,590.66 |
3,640.09 |
3,429.26 |
14,244.83 |
13,318.86 |
|
c) Interest on balances with Reserve Bank of India and other interbank funds |
104.89 |
102.51 |
187.15 |
427.70 |
756.63 |
|
d) Others |
269.72 |
299.68 |
461.87 |
1,085.83 |
1,246.64 |
|
2. |
Other income |
8,806.92 |
7,704.25 |
8,659.82 |
30,084.61 |
29,319.81 |
3. |
TOTAL INCOME (1)+(2) |
21,652.96 |
20,543.46 |
20,239.87 |
79,563.85 |
74,204.40 |
4. |
Interest expended |
7,608.33 |
7,745.17 |
7,054.70 |
29,710.61 |
28,285.41 |
5. |
Operating expenses (e)+(f) |
9,175.37 |
7,668.02 |
9,062.83 |
30,666.35 |
30,207.06 |
e) Employee cost |
1,681.96 |
1,437.88 |
1,458.18 |
5,968.79 |
5,629.09 |
|
f) Other operating expenses |
7,493.41 |
6,230.14 |
7,604.65 |
24,697.56 |
24,577.97 |
|
6. |
TOTAL EXPENDITURE (4)+(5) (excluding provisions and contingencies) |
16,783.70 |
15,413.19 |
16,117.53 |
60,376.96 |
58,492.47 |
7. |
OPERATING PROFIT (3)–(6) (Profit before provisions and contingencies) |
4,869.26 |
5,130.27 |
4,122.34 |
19,186.89 |
15,711.93 |
8. |
Provisions (other than tax) and contingencies |
812.57 |
758.75 |
547.52 |
2,900.26 |
2,095.17 |
9. |
Exceptional items |
.. |
.. |
.. |
.. |
.. |
10. |
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES BEFORE TAX (7)–(8)–(9) |
4,056.69 |
4,371.52 |
3,574.82 |
16,286.63 |
13,616.76 |
11. |
Tax expense (g)+(h) |
1,183.42 |
1,344.26 |
967.52 |
4,609.51 |
3,486.88 |
g) Current period tax |
1,051.34 |
1,220.89 |
932.82 |
4,320.98 |
3,377.26 |
|
h) Deferred tax adjustment |
132.08 |
123.37 |
34.70 |
288.53 |
109.62 |
|
12. |
Less: Share of profit/(loss) of minority shareholders |
149.01 |
154.96 |
115.25 |
635.75 |
526.27 |
13. |
NET PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER TAX (10)–(11)-(12) |
2,724.26 |
2,872.30 |
2,492.05 |
11,041.37 |
9,603.61 |
14. |
Extraordinary items (net of tax expense) |
.. |
.. |
.. |
.. |
.. |
15. |
NET PROFIT/(LOSS) FOR THE PERIOD (13)–(14) |
2,724.26 |
2,872.30 |
2,492.05 |
11,041.37 |
9,603.61 |
16. |
Paid-up equity share capital (face value ` 10/- each) |
1,155.04 |
1,154.59 |
1,153.64 |
1,155.04 |
1,153.64 |
17. |
Analytical ratios |
|||||
Basic EPS before and after extraordinary items, net of tax expense (not annualised for three months)(in `) |
23.59 |
24.88 |
21.61 |
95.65 |
83.29 |
|
Diluted EPS before and after extraordinary items, net of tax expense (not annualised for three months)(in `) |
23.47 |
24.76 |
21.46 |
95.14 |
82.84 |
|
SUMMARISED CONSOLIDATED BALANCE SHEET
(` in crore)
Particulars |
At |
||
|---|---|---|---|
March 31, 2014 |
December 31, 2013 |
March 31, 2013 |
|
(Audited) |
(Audited) |
(Audited) |
|
Capital and Liabilities |
|||
Capital |
1,155.04 |
1,154.59 |
1,153.64 |
Employees stock options outstanding |
6.57 |
6.05 |
4.48 |
Reserves and surplus |
75,268.23 |
76,136.58 |
67,604.29 |
Minority interest |
2,010.76 |
1,966.52 |
1,705.76 |
Deposits |
359,512.68 |
345,018.52 |
314,770.53 |
Borrowings (includes preference shares and subordinated debt) |
183,542.07 |
182,306.52 |
172,888.22 |
Liabilities on policies in force |
74,926.51 |
71,705.67 |
68,910.54 |
Other liabilities and provisions |
51,103.82 |
48,453.56 |
47,784.25 |
Total Capital and Liabilities |
747,525.68 |
726,748.01 |
674,821.71 |
Assets |
|||
Cash and balances with Reserve Bank of India |
22,096.93 |
19,283.15 |
19,306.20 |
Balances with banks and money at call and short notice |
26,161.30 |
21,044.02 |
30,064.65 |
Investments |
267,609.44 |
258,836.72 |
255,666.68 |
Advances |
387,341.78 |
383,930.90 |
329,974.13 |
Fixed assets |
5,506.83 |
5,440.74 |
5,473.46 |
Other assets |
38,809.40 |
38,212.48 |
34,336.59 |
Total Assets |
747,525.68 |
726,748.01 |
674,821.71 |
CONSOLIDATED SEGMENTAL RESULTS
(` in crore)
Sr. no. |
Particulars |
Three months end |
ed |
Year ended |
||
|---|---|---|---|---|---|---|
March 31, 2014 |
December 31, 2013 |
March 31, 2013 |
March 31, 2014 |
March 31, 2013 |
||
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
(Audited) |
||
1. |
Segment Revenue |
|||||
a |
Retail Banking |
7,220.62 |
7,095.96 |
5,843.40 |
27,411.60 |
22,585.63 |
b |
Wholesale Banking |
8,180.87 |
8,408.84 |
7,866.42 |
32,402.48 |
31,368.76 |
c |
Treasury |
10,549.05 |
10,158.41 |
9,138.36 |
39,290.24 |
35,598.15 |
d |
Other Banking |
889.90 |
934.35 |
903.61 |
3,223.11 |
2,834.62 |
e |
Life Insurance |
5,131.50 |
3,918.03 |
5,494.82 |
15,990.20 |
17,376.03 |
f |
General Insurance |
1,437.74 |
1,423.00 |
1,437.81 |
5,712.20 |
5,043.30 |
g |
Others |
895.28 |
904.42 |
814.45 |
3,349.49 |
2,996.80 |
Total segment revenue |
34,304.96 |
32,843.01 |
31,498.87 |
127,379.32 |
117,803.29 |
|
Less: Inter segment revenue |
12,652.00 |
12,299.55 |
11,259.00 |
47,815.47 |
43,598.89 |
|
Income from operations |
21,652.96 |
20,543.46 |
20,239.87 |
79,563.85 |
74,204.40 |
|
2. |
Segmental Results (i.e. Profit before tax and minority interest) |
|||||
a |
Retail Banking |
321.55 |
561.63 |
269.69 |
1,829.52 |
954.55 |
b |
Wholesale Banking |
1,634.67 |
1,716.19 |
1,620.48 |
6,588.63 |
6,618.86 |
c |
Treasury |
1,735.18 |
1,401.85 |
1,095.26 |
5,256.50 |
3,661.33 |
d |
Other Banking |
214.90 |
214.57 |
255.01 |
903.15 |
641.01 |
e |
Life Insurance |
350.33 |
427.33 |
371.94 |
1,529.24 |
1,569.65 |
f |
General Insurance |
72.38 |
78.13 |
32.56 |
520.24 |
281.68 |
g |
Others |
262.41 |
280.61 |
233.50 |
978.42 |
781.73 |
Total segment results |
4,591.42 |
4,680.31 |
3,878.44 |
17,605.70 |
14,508.81 |
|
Less: Inter segment adjustment |
534.73 |
308.79 |
303.62 |
1,319.07 |
892.05 |
|
Unallocated expenses |
.. |
.. |
.. |
.. |
.. |
|
Profit before tax and minority interest |
4,056.69 |
4,371.52 |
3,574.82 |
16,286.63 |
13,616.76 |
|
3. |
Capital employed (i.e. Segment assets – Segment liabilities) |
|||||
a |
Retail Banking |
(139,706.24) |
(137,641.91) |
(131,343.72) |
(139,706.24) |
(131,343.72) |
b |
Wholesale Banking |
137,829.58 |
143,876.07 |
119,763.46 |
137,829.58 |
119,763.46 |
c |
Treasury |
53,614.02 |
46,017.67 |
54,106.66 |
53,614.02 |
54,106.66 |
d |
Other Banking |
9,792.63 |
10,265.24 |
11,178.40 |
9,792.63 |
11,178.40 |
e |
Life Insurance |
4,437.68 |
4,381.05 |
4,144.06 |
4,437.68 |
4,144.06 |
f |
General Insurance |
2,141.81 |
2,083.93 |
1,562.35 |
2,141.81 |
1,562.35 |
g |
Others |
2,841.29 |
2,811.51 |
2,483.30 |
2,841.29 |
2,483.30 |
h |
Unallocated |
5,479.07 |
5,503.66 |
6,867.90 |
5,479.07 |
6,867.90 |
Total |
76,429.84 |
77,297.22 |
68,762.41 |
76,429.84 |
68,762.41 |
|
Notes on segmental results:
- 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.
- "Retail Banking" includes exposures of ICICI Bank Limited ("the Bank") 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".
- "Wholesale Banking" includes all advances to trusts, partnership firms, companies and statutory bodies by the Bank which are not included under Retail Banking.
- "Treasury" includes the entire investment and derivative portfolio of the Bank, ICICI Eco-net Internet and Technology Fund (upto December 31, 2013), ICICI Equity Fund, ICICI Emerging Sectors Fund (upto December 31, 2013), ICICI Strategic Investments Fund and ICICI Venture Value Fund (upto September 30, 2013).
- "Other Banking" includes leasing operations and other items not attributable to any particular business segment of the Bank. Further, it includes the Bank's banking subsidiaries i.e. ICICI Bank UK PLC, ICICI Bank Canada and ICICI Bank Eurasia LLC.
- "Life Insurance" represents ICICI Prudential Life Insurance Company Limited.
- "General Insurance" represents ICICI Lombard General Insurance Company Limited.
- "Others" comprises the consolidated entities of the Bank, not covered in any of the segments above.
Notes:
- The above financial results have been approved by the Board of Directors at its meeting held on April 25, 2014.
- In accordance with RBI guidelines, banks are required to disclose capital adequacy ratio computed under Basel III capital regulations from the quarter ended June 30, 2013. Accordingly, corresponding details for previous periods are not applicable.
- Pillar 3 (Market Discipline) disclosures (unaudited) as per RBI guidelines on Composition of Capital Disclosure Requirements at March 31, 2014 for the Group are available at /aboutus/invest-disclosure.html.
- Other income for the three months ended and year ended March 31, 2014 includes foreign exchange gain of ` 222.25 crore on repatriation of retained earnings from the overseas branches.
- The Bank creates Special Reserve through appropriation of profits, in order to avail tax deduction as per Section 36(1)(viii) of the Income Tax Act, 1961. The Reserve Bank of India, through its circular dated December 20, 2013, had advised banks to create deferred tax liability (DTL) on the amount outstanding in Special Reserve, as a matter of prudence. In accordance with these RBI guidelines, during the three months ended December 31, 2013, the Bank created DTL of ` 1,419.23 crore on Special Reserve outstanding at March 31, 2013, by reducing the reserves. Further, DTL of ` 214.98 crore on the estimated Special Reserve for the nine months ended December 31, 2013 was created in the three months ended December 31, 2013 and DTL of ` 89.28 crore and ` 304.26 crore on the amount transferred to Special Reserve has been created for the three months and year ended March 31, 2014 respectively. Accordingly, the tax expenses for the three months ended December 31, 2013, three months and year ended March 31, 2014 is higher by ` 214.98 crore, ` 89.28 crore and ` 304.26 crore respectively.
- During the three months ended March 31, 2014, the Bank has allotted 451,382 equity shares of ` 10/- each pursuant to exercise of employee stock options.
- Status of equity investors' complaints/grievances for the three months ended March 31, 2014:
Opening balance |
Additions |
Disposals |
Closing balance |
|---|---|---|---|
0 |
14 |
14 |
0 |
- The Board of Directors has recommended a dividend of ` 23.00 per equity share for the year ended March 31, 2014 (previous year dividend of ` 20.00 per equity share). The declaration and payment of dividend is subject to requisite approvals. The Board of Directors has also recommended a dividend of ` 100.00 per preference share on 350 preference shares of the face value of ` 1 crore each for the year ended March 31, 2014.
- Previous period/year figures have been re-grouped/re-classified where necessary to conform to current period classification.
- The amounts for three months ended March 31, 2014 are balancing amounts between the amounts as per audited accounts for the year ended March 31, 2014 and nine months ended December 31, 2013.
- The above unconsolidated and consolidated financial results are audited by the statutory auditors, S.R. Batliboi & Co. LLP, Chartered Accountants.
- ` 1 crore = ` 10.0 million.