ICICI Bank has close to a quarter of its assets of Rs 4,09,700 crore with two overseas subsidiaries -- ICICI Bank UK and ICICI Bank Canada.
Currency fluctuation impacted bottomlines of its both subsidiaries with the Canadian arm reporting a sharp decline and the British unit turning in a marginal increase in profit, despite the fact that bank could manage higher net interest margin from them at 2 percent, up 12 basis points from a year ago.
Of the total loan book of Rs 4,09,700 crore at the reporting quarter, these two subsidiaries contributed 23.4 percent, down from 25.7 percent in the year-ago period when its total assets stood at Rs 3,61,800 crore, the bank said. In the first quarter of the current fiscal, the share was 24.2 percent of Rs 3,99,700 crore.
The bank's total equity investment in ICICI Bank UK and ICICI Bank Canada has come down from 11 per cent of its networth as of March 2010 to 5.2 percent as of September 2015, Chief Financial Officer N S Kannan told investors and analysts at a customary post-earnings concall this evening.
ICICI Bank Canada's net profit fell to 6.6 million Canadian dollars (CAD) from 9.2 million dollars a year ago and 7.8 million CAD in Q1 of the current year. However, its assets rose to 6.47 billion CAD during the reporting quarter from 5.90 billion dollars in Q1. Loans and advances rose to 5.61 billion dollars compared to 5.21 billion CAD in Q1, he said.



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