Form 20-F
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X |
Form 40-F
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Yes
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No X
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Yes
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No X
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Yes
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No X
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Item
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1.
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News Release dated January 31, 2013
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2. | Financial results for the quarter ended December 31, 2012 |
3. | Certificate of S.R. Batliboi & Co., Statutory Auditors of the Bank |
For ICICI Bank Limited
|
||||||
Date: | January 31, 2013 | By: | /s/ Mr. Ranganath Athreya | |||
Name :
|
Ranganath Athreya
|
|||||
Title :
|
General Manager - Joint Company Secretary & Head Compliance – Private Banking, Capital Markets & Non Banking Subsidiaries
|
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
|
|
News Release
|
January 31, 2013 |
·
|
Consolidated return on equity (annualised) of 15.7% for the quarter ended December 31, 2012 (Q3-2013)
|
·
|
30% year-on-year increase in standalone profit after tax to Rs. 2,250 crore (US$ 409 million) for Q3-2013 from Rs. 1,728 crore (US$ 314 million) for the quarter ended December 31, 2011 (Q3-2012)
|
·
|
22% year-on-year increase in consolidated profit after tax to Rs. 2,645 crore (US$ 481 million) for Q3-2013 from Rs. 2,174 crore (US$ 395 million) for Q3-2012
|
·
|
Net interest margin improved by 37 basis points to 3.07% for Q3-2013 compared to the same period last year
|
·
|
16% year-on-year increase in advances to Rs. 286,766 crore (US$ 52.1 billion) at December 31, 2012
|
·
|
17% year-on-year increase in retail advances to Rs. 96,528 crore (US$ 17.6 billion) at December 31, 2012
|
·
|
Net non-performing asset ratio at 0.64% at December 31, 2012 compared to 0.70% at December 31, 2011 and 0.66% at September 30, 2012
|
·
|
Strong capital adequacy ratio of 19.53% and Tier-1 capital adequacy of 13.25%
|
·
|
Standalone profit after tax increased 30% to Rs. 2,250 crore (US$ 409 million) for the quarter ended December 31, 2012 (Q3-2013) from Rs. 1,728 crore (US$ 314 million) for the quarter ended December 31, 2011 (Q3-2012).
|
·
|
Standalone profit after tax increased 32% to Rs. 6,021 crore (US$ 1,095 million) for the nine months ended December 31, 2012 (9M-2013) from Rs. 4,563 crore (US$ 830 million) for the nine months ended December 31, 2011 (9M-2012).
|
·
|
Net interest income increased 29% to Rs. 3,499 crore (US$ 636 million) in Q3-2013 from Rs. 2,712 crore (US$ 493 million) in Q3-2012.
|
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
|
·
|
Net interest margin improved to 3.07% for Q3-2013 from 2.70% for Q3-2012.
|
·
|
Non-interest income increased by 17% to Rs. 2,215 crore (US$ 403 million) in Q3-2013 from Rs. 1,892 crore (US$ 344 million) in Q3-2012.
|
·
|
Cost-to-income ratio reduced to 39.5% in Q3-2013 from 41.5% in Q3-2012.
|
·
|
Provisions were at Rs. 369 crore (US$ 67 million) in Q3-2013 compared to Rs. 341 crore (US$ 62 million) in Q3-2012 and Rs. 508 crore (US$ 92 million) in the quarter ended September 30, 2012 (Q2-2013).
|
·
|
Return on average assets (annualised) was 1.76% in Q3-2013 compared to 1.49% in Q3-2012.
|
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
|
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
|
Rs. crore
|
FY2012
|
Q3-2012
|
9M-2012
|
Q2-2013
|
Q3-2013
|
9M-2013
|
|
Net interest income
|
10,734
|
2,712
|
7,629
|
3,371
|
3,499
|
10,063
|
Non-interest income
|
7,502
|
1,892
|
5,274
|
2,043
|
2,215
|
6,138
|
- Fee income
|
6,707
|
1,701
|
4,979
|
1,709
|
1,771
|
5,126
|
- Dividend and other income
|
808
|
256
|
465
|
162
|
193
|
609
|
- Treasury income
|
(13)
|
(65)
|
(170)
|
172
|
251
|
403
|
Less:
|
||||||
Operating expense1
|
7,850
|
1,917
|
5,628
|
2,221
|
2,261
|
6,606
|
Operating profit
|
10,386
|
2,687
|
7,275
|
3,193
|
3,453
|
9,595
|
Less: Provisions
|
1,583
|
341
|
1,114
|
508
|
369
|
1,342
|
Profit before tax
|
8,803
|
2,346
|
6,161
|
2,685
|
3,084
|
8,253
|
Less: Tax
|
2,338
|
618
|
1,598
|
729
|
834
|
2,232
|
Profit after tax
|
6,465
|
1,728
|
4,563
|
1,956
|
2,250
|
6,021
|
1.
|
Includes commissions paid to direct marketing agents (DMAs) for origination of retail loans and lease depreciation.
|
2.
|
Prior period figures have been regrouped/re-arranged where necessary.
|
ICICI Bank Limited
ICICI Bank Towers
Bandra Kurla Complex
Mumbai 400 051
|
At
|
||||
December 31, 2011
|
March
31, 2012
|
September 30, 2012
|
December 31, 2012
|
|
Capital and Liabilities
|
||||
Capital
|
1,153
|
1,153
|
1,153
|
1,153
|
Employee stock options outstanding
|
2
|
2
|
3
|
4
|
Reserves and surplus
|
59,821
|
59,250
|
63,306
|
65,961
|
Deposits
|
260,589
|
255,500
|
281,438
|
286,418
|
Borrowings (includes subordinated debt)1
|
122,281
|
140,165
|
135,390
|
147,149
|
Other liabilities2
|
47,095
|
32,999
|
29,904
|
26,654
|
Total Capital and Liabilities
|
490,941
|
489,069
|
511,194
|
527,339
|
Assets
|
||||
Cash and balances with Reserve Bank of India
|
22,144
|
20,461
|
21,175
|
21,778
|
Balances with banks and money at call and short notice
|
17,202
|
15,768
|
21,247
|
19,351
|
Investments
|
149,791
|
159,560
|
157,914
|
166,842
|
Advances
|
246,157
|
253,728
|
275,076
|
286,766
|
Fixed assets
|
4,617
|
4,615
|
4,621
|
4,619
|
Other assets2
|
51,030
|
34,937
|
31,161
|
27,983
|
Total Assets
|
490,941
|
489,069
|
511,194
|
527,339
|
ICICI Bank Limited
|
Registered Office: Landmark, Race Course Circle, Vadodara - 390 007.
|
Corporate Office: ICICI Bank Towers, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051.
|
Web site: http://www.icicibank.com
|
UNCONSOLIDATED FINANCIAL RESULTS
|
(Rs. in crore)
|
|||||||||
Sr. no.
|
Particulars
|
Three months ended
|
Nine months ended
|
Year ended
|
|||||
December
31, 2012
|
September 30, 2012
|
December
31, 2011
|
December
31, 2012
|
December
31, 2011
|
March
31, 2012
|
||||
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
||||
1.
|
Interest earned (a)+(b)+(c)+(d)
|
10,138.29
|
10,026.33
|
8,591.87
|
29,710.27
|
24,368.01
|
33,542.65
|
||
a)
|
Interest/discount on advances/bills
|
7,065.80
|
6,848.79
|
5,685.84
|
20,370.42
|
16,001.71
|
22,129.89
|
||
b)
|
Income on investments
|
2,742.42
|
2,744.54
|
2,472.54
|
8,188.87
|
7,068.55
|
9,684.02
|
||
c)
|
Interest on balances with Reserve Bank of India and other inter-bank funds
|
136.25
|
148.83
|
134.11
|
408.69
|
363.21
|
491.14
|
||
d)
|
Others
|
193.82
|
284.17
|
299.38
|
742.29
|
934.54
|
1,237.60
|
||
2.
|
Other income
|
2,214.62
|
2,042.97
|
1,891.86
|
6,137.51
|
5,274.30
|
7,502.76
|
||
3.
|
TOTAL INCOME (1)+(2)
|
12,352.91
|
12,069.30
|
10,483.73
|
35,847.78
|
29,642.31
|
41,045.41
|
||
4.
|
Interest expended
|
6,639.27
|
6,655.10
|
5,879.85
|
19,647.08
|
16,738.63
|
22,808.50
|
||
5.
|
Operating expenses (e)+(f)
|
2,261.16
|
2,220.90
|
1,916.78
|
6,605.59
|
5,628.80
|
7,850.44
|
||
e)
|
Employee cost
|
940.64
|
965.88
|
836.63
|
2,893.55
|
2,412.18
|
3,515.28
|
||
f)
|
Other operating expenses
|
1,320.52
|
1,255.02
|
1,080.15
|
3,712.04
|
3,216.62
|
4,335.16
|
||
6. | TOTAL EXPENDITURE (4)+(5)
(excluding provisions and contingencies)
|
8,900.43
|
8,876.00
|
7,796.63
|
26,252.67
|
22,367.43
|
30,658.94
|
||
7.
|
OPERATING PROFIT (3)–(6)
(Profit before provisions and contingencies)
|
3,452.48
|
3,193.30
|
2,687.10
|
9,595.11
|
7,274.88
|
10,386.47
|
||
8.
|
Provisions (other than tax) and contingencies
|
368.73
|
507.92
|
341.10
|
1,342.52
|
1,113.75
|
1,583.04
|
||
9.
|
Exceptional items
|
..
|
..
|
..
|
..
|
..
|
..
|
||
10.
|
PROFIT/(LOSS) FROM ORDINARY ACTIVITIES BEFORE TAX (7)–(8)–(9)
|
3,083.75
|
2,685.38
|
2,346.00
|
8,252.59
|
6,161.13
|
8,803.43
|
||
11.
|
Tax expense (g)+(h)
|
833.51
|
729.27
|
617.90
|
2,231.19
|
1,597.64
|
2,338.17
|
||
g)
|
Current period tax
|
746.91
|
679.36
|
492.94
|
2,162.81
|
1,564.45
|
2,193.52
|
||
h)
|
Deferred tax adjustment
|
86.60
|
49.91
|
124.96
|
68.38
|
33.19
|
144.65
|
||
12.
|
NET PROFIT/(LOSS) FROM ORDINARY ACTIVITIES AFTER TAX (10)–(11)
|
2,250.24
|
1,956.11
|
1,728.10
|
6,021.40
|
4,563.49
|
6,465.26
|
||
13.
|
Extraordinary items (net of tax expense)
|
..
|
..
|
..
|
..
|
..
|
..
|
||
14.
|
NET PROFIT/(LOSS) FOR THE PERIOD (12)–(13)
|
2,250.24
|
1,956.11
|
1,728.10
|
6,021.40
|
4,563.49
|
6,465.26
|
||
15.
|
Paid-up equity share capital (face value Rs. 10/- each)
|
1,153.36
|
1,153.08
|
1,152.62
|
1,153.36
|
1,152.62
|
1,152.77
|
||
16.
|
Reserves excluding revaluation reserves
|
65,961.38
|
63,305.63
|
59,821.05
|
65,961.38
|
59,821.05
|
59,250.09
|
||
17.
|
Analytical ratios
|
||||||||
i)
|
Percentage of shares held by Government of India
|
0.01
|
0.01
|
..
|
0.01
|
..
|
..
|
||
ii)
|
Capital adequacy ratio
|
19.53%
|
18.28%
|
18.88%
|
19.53%
|
18.88%
|
18.52%
|
||
iii)
|
Earnings per share (EPS)
|
||||||||
a)
|
Basic EPS before and after extraordinary items, net of tax expense (not annualised for three months/nine months) (in Rs.)
|
19.51
|
16.97
|
14.99
|
52.23
|
39.61
|
56.11
|
||
b)
|
Diluted EPS before and after extraordinary items, net of tax expense (not annualised for three months/nine months) (in Rs.)
|
19.42
|
16.91
|
14.96
|
52.06
|
39.49
|
55.95
|
18.
|
NPA Ratio1
|
||||||||
i)
|
Gross non-performing advances (net of write-off)
|
9,763.39
|
10,036.37
|
9,723.01
|
9,763.39
|
9,723.01
|
9,475.33
|
||
ii)
|
Net non-performing advances
|
2,181.53
|
2,134.07
|
2,047.67
|
2,181.53
|
2,047.67
|
1,860.84
|
||
iii)
|
% of gross non-performing advances (net of write-off) to gross advances
|
3.31%
|
3.54%
|
3.82%
|
3.31%
|
3.82%
|
3.62%
|
||
iv)
|
% of net non-performing advances to net advances
|
0.76%
|
0.78%
|
0.83%
|
0.76%
|
0.83%
|
0.73%
|
||
19.
|
Return on assets (annualised)
|
1.80%
|
1.59%
|
1.57%
|
1.66%
|
1.43%
|
1.50%
|
||
20.
|
Public shareholding
|
||||||||
i)
|
No. of shares
|
1,153,303,032
|
1,153,027,642
|
1,152,564,657
|
1,153,303,032
|
1,152,564,657
|
1,152,714,442
|
||
ii)
|
Percentage of shareholding
|
100
|
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 December 31, 2012 the percentage of gross non-performing customer assets to gross customer assets was 2.82% and net non-performing customer assets to net customer assets was 0.64%. Customer assets include advances and credit substitutes.
|
SUMMARISED UNCONSOLIDATED BALANCE SHEET
|
(Rs. in crore)
|
||||
Particulars
|
At
|
|||
December 31, 2012
|
September
30, 2012
|
March
31, 2012
|
December
31, 2011
|
|
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
|
Capital and Liabilities
|
||||
Capital
|
1,153.36
|
1,153.08
|
1,152.77
|
1,152.62
|
Employees stock options outstanding
|
3.95
|
3.43
|
2.39
|
1.84
|
Reserves and surplus
|
65,961.38
|
63,305.63
|
59,250.09
|
59,821.05
|
Deposits
|
286,418.06
|
281,438.20
|
255,499.96
|
260,589.36
|
Borrowings (includes preference shares and subordinated debt)
|
147,149.07
|
135,390.13
|
140,164.90
|
122,280.83
|
Other liabilities and provisions
|
26,653.07
|
29,903.98
|
32,998.69
|
47,095.74
|
Total Capital and Liabilities
|
527,338.89
|
511,194.45
|
489,068.80
|
490,941.44
|
Assets
|
||||
Cash and balances with Reserve Bank of India
|
21,777.62
|
21,175.08
|
20,461.30
|
22,144.07
|
Balances with banks and money at call and short notice
|
19,351.02
|
21,247.03
|
15,768.02
|
17,201.90
|
Investments
|
166,842.01
|
157,913.96
|
159,560.04
|
149,791.42
|
Advances
|
286,765.98
|
275,075.63
|
253,727.66
|
246,157.49
|
Fixed assets
|
4,618.52
|
4,621.49
|
4,614.68
|
4,616.63
|
Other assets
|
27,983.74
|
31,161.26
|
34,937.10
|
51,029.93
|
Total Assets
|
527,338.89
|
511,194.45
|
489,068.80
|
490,941.44
|
CONSOLIDATED FINANCIAL RESULTS
|
|||||||
(Rs. in crore)
|
|||||||
Sr.
no.
|
Particulars
|
Three months ended
|
Nine months ended
|
Year ended
|
|||
December 31, 2012
|
September 30, 2012
|
December 31, 2011
|
December
31, 2012
|
December 31, 2011
|
March
31, 2012
|
||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
||
1.
|
Total income
|
18,715.39
|
18,609.43
|
16,497.35
|
53,964.53
|
47,357.75
|
66,658.28
|
2.
|
Net profit
|
2,644.61
|
2,390.37
|
2,174.22
|
7,111.56
|
5,832.67
|
7,642.94
|
3.
|
Earnings per share (EPS)
|
||||||
a) Basic EPS (not annualised for three
months/nine months) (in Rs.)
|
22.93
|
20.73
|
18.87
|
61.68
|
50.62
|
66.33
|
|
b) Diluted EPS (not annualised for three
months/nine months) (in Rs.)
|
22.79
|
20.63
|
18.78
|
61.38
|
50.37
|
66.06
|
UNCONSOLIDATED SEGMENTAL RESULTS OF ICICI BANK LIMITED
|
(Rs. in crore)
|
|||||||
Sr.
no.
|
Particulars
|
Three months ended
|
Nine months ended
|
Year ended
|
|||
December 31, 2012
|
September 30, 2012
|
December 31, 2011
|
December
31, 2012
|
December 31, 2011
|
March
31, 2012
|
||
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
(Audited)
|
||
1.
|
Segment revenue
|
||||||
a
|
Retail Banking
|
5,698.63
|
5,579.55
|
4,951.87
|
16,742.23
|
14,487.12
|
19,711.27
|
b
|
Wholesale Banking
|
8,264.85
|
7,988.92
|
6,798.37
|
23,502.34
|
18,787.09
|
26,171.31
|
c
|
Treasury
|
9,025.02
|
8,917.37
|
7,603.06
|
26,451.45
|
21,847.44
|
30,141.42
|
d
|
Other Banking
|
103.89
|
71.78
|
51.96
|
257.73
|
187.48
|
282.18
|
Total segment revenue
|
23,092.39
|
22,557.62
|
19,405.26
|
66,953.75
|
55,309.13
|
76,306.18
|
|
Less: Inter segment revenue
|
10,739.48
|
10,488.32
|
8,921.53
|
31,105.97
|
25,666.82
|
35,260.77
|
|
Income from operations
|
12,352.91
|
12,069.30
|
10,483.73
|
35,847.78
|
29,642.31
|
41,045.41
|
|
2.
|
Segmental results (i.e. Profit before tax)
|
||||||
a
|
Retail Banking
|
242.49
|
299.53
|
320.45
|
684.86
|
341.91
|
549.99
|
b
|
Wholesale Banking
|
1,922.76
|
1,487.62
|
1,657.14
|
4,998.38
|
4,457.95
|
6,207.73
|
c
|
Treasury
|
934.49
|
828.16
|
398.24
|
2,561.82
|
1,380.41
|
2,080.68
|
d
|
Other Banking
|
(15.99)
|
70.07
|
(29.83)
|
7.53
|
(19.14)
|
(34.97)
|
Total segment results
|
3,083.75
|
2,685.38
|
2,346.00
|
8,252.59
|
6,161.13
|
8,803.43
|
|
Unallocated expenses
|
..
|
..
|
..
|
..
|
..
|
..
|
|
Profit before tax
|
3,083.75
|
2,685.38
|
2,346.00
|
8,252.59
|
6,161.13
|
8,803.43
|
|
3.
|
Capital employed
|
||||||
a
|
Retail Banking
|
(124,172.15)
|
(120,961.40)
|
(105,342.94)
|
(124,172.15)
|
(105,342.94)
|
(106,850.82)
|
b
|
Wholesale Banking
|
123,905.41
|
115,358.26
|
90,958.19
|
123,905.41
|
90,958.19
|
106,384.77
|
c
|
Treasury
|
59,610.96
|
63,115.73
|
68,274.02
|
59,610.96
|
68,274.02
|
53,552.58
|
d
|
Other Banking
|
2,112.79
|
1,590.79
|
1,506.03
|
2,112.79
|
1,506.03
|
1,717.58
|
e
|
Unallocated
|
5,661.68
|
5,358.76
|
5,580.21
|
5,661.68
|
5,580.21
|
5,601.14
|
Total
|
67,118.69
|
64,462.14
|
60,975.51
|
67,118.69
|
60,975.51
|
60,405.25
|
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 and derivative portfolio of the Bank.
|
|||||||||||||||||||||||
5.
|
"Other Banking" includes leasing operations and other items not attributable to any particular business segment.
|
Notes:
|
1.
|
The above financial results have been approved by the Board of Directors at its meeting held on January 31, 2013.
|
|||||||||||||||||||||||
2.
|
The financial statements have been prepared in accordance with Accounting Standard (AS) 25 on 'Interim Financial Reporting'.
|
|||||||||||||||||||||||
3.
|
The provision coverage ratio of the Bank at December 31, 2012, computed as per the RBI circular dated December 1, 2009, is 77.7% (September 30, 2012: 78.7%; March 31, 2012: 80.4%; December 31, 2011: 78.9%).
|
|||||||||||||||||||||||
4.
|
In accordance with Insurance Regulatory and Development Authority (IRDA) guidelines, ICICI Lombard General Insurance Company (ICICI General), together with all other general insurance companies participated in the Indian Motor Third Party Insurance Pool (the Pool), administered by the General Insurance Corporation of India (GIC) from April 1, 2007. The Pool covered reinsurance of third party risks of commercial vehicles. IRDA through its orders dated December 23, 2011, January 3, 2012 and March 22, 2012 has directed the dismantling of the Pool on a clean cut basis and advised recognition of the Pool liabilities as per loss ratios estimated by GAD UK ("GAD Estimates") for underwriting years commencing from the year ended March 31, 2008 to year ended March 31, 2012. ICICI General recognised the additional liabilities of the Pool in the three months ended March 31, 2012 and accordingly the Bank's consolidated net profit after tax for the year ended March 31, 2012 includes impact of additional Pool losses of Rs. 503.03 crore in line with Bank's shareholding in ICICI General.
|
|||||||||||||||||||||||
5.
|
At December 31, 2012 the Bank has presented the mark-to-market (MTM) gain or loss on forex and derivative transactions on gross basis. Accordingly, the gross positive MTM amounting to Rs. 12,254.23 crore has been included in Other assets and gross negative MTM amounting to Rs. 10,743.75 crore has been included in Other liabilities. Consequent to the change, Other assets and Other liabilities have increased by Rs. 14,139.33 crore, Rs. 15,421.71 crore and Rs. 31,648.46 crore at September 30, 2012, March 31, 2012 and December 31, 2011 respectively.
|
|||||||||||||||||||||||
6.
|
During the three months ended December 31, 2012 the Bank has allotted 275,390 equity shares of Rs. 10/- each pursuant to exercise of employee stock options.
|
|||||||||||||||||||||||
7.
|
Status of equity investors' complaints/grievances for the three months ended December 31, 2012:
|
Opening balance
|
Additions
|
Disposals
|
Closing balance
|
0
|
24
|
22
|
2
|
8.
|
Previous period/year figures have been re-grouped/re-classified where necessary to conform to current period classification.
|
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:
|
January 31, 2013
|
Executive Director & CFO
|
1.
|
We have audited the quarterly financial results of ICICI Bank Limited for the quarter ended December 31, 2012 and the year-to-date results for the period April 1, 2012 to December 31, 2012, attached herewith, being submitted by the Bank pursuant to the requirement of clause 41 of the Listing Agreement, except for the disclosures regarding ‘Public Shareholding’ and ‘Promoter and Promoter Group Shareholding’ which have been traced from disclosures made by the management and have not been audited by us. These quarterly financial results as well as the year-to-date financial results have been prepared from interim financial statements, which are the responsibility of the Bank’s management and have been approved by the Board of Directors. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard (AS) 25, Interim Financial Reporting, issued pursuant to the Companies (Accounting Standards) Rules, 2006, (as amended) as per Section 211(3C) of the Companies Act, 1956 and other accounting principles generally accepted in India, as applicable to banks.
|
2.
|
We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.
|
3.
|
We did not audit the financial statements of Singapore, Bahrain and Hong Kong branches, whose financial statements reflect total assets of Rs. 107,915.83 crores as at December 31, 2012, the total revenue of Rs. 1,197.89 crores for the quarter ended December 31, 2012 and Rs. 3,915.01 crores for the nine months ended December 31, 2012 and net cash out flows amounting to Rs. 7,168.98 crores for the quarter ended December 31, 2012 and net cash flows amounting to Rs. 5,675.76 crores for the nine months ended December 31, 2012. These financial statements have been audited by other auditors, duly qualified to act as auditors in the country of incorporation of the said branches, whose reports have been furnished to us, and our opinion is based solely on the report of other auditors.
|
4.
|
In our opinion and to the best of our information and according to the explanations given to us these quarterly financial results as well as the year-to-date results:
|
(i)
|
have been presented in accordance with the requirements of clause 41 of the Listing Agreement in this regard; and
|
|
(ii)
|
give a true and fair view of the net profit for the quarter ended December 31, 2012 as well as the year to date results for the period from April 1, 2012 to December 31, 2012.
|
5.
|
Further, read with paragraph 1 above, we also report that we have, on the basis of the books of account and other records and information and explanations given to us by the management, also verified the number of shares as well as percentage of shareholdings in respect of aggregate amount of public shareholdings, as furnished by the company in terms of clause 35 of the Listing Agreement and found the same to be correct.
|