Executive Summary

This write-up contains a review of the financial statements of four different banks across the globe. The basic purpose of this report is to link the information we obtain from books and lectures and class learning with the real & practical world.

The information in this write up is from the annual reports of the companies. The content of this write-up includes:

· History of the companies

· Basic Financial Statements

· Financial Assets

· Plant & Intangible Assets

· Liabilities

· Statement of Cash flows

Selected Companies

BANK AL HABIB

* Stock Exchange:

o It is located on Karachi Stock Exchange.

* Industry & products:

o It is included in Consumer & Commercial Banking sector. And the products and services offered by the company are:

§ Consumer banking:

* Auto Loan

* Home loan

* Home buying

* Home construction

* Home Improvement

§ Services:

* Online Banking

* Safe deposit lockers

* ATM cards

* Debit cards

* Telebanking

* E-funds transfer

* Remittances

* Life Insurance

§ Investment:

* Young saver account

* PLS saving account

* Maximize your profit

* Income every month

* Super saving account

* Mahana Munafa account

§ Agriculture loan

§ Islamic Banking

* Deposit schemes

* Islamic financing

§ Commercial Banking

§ Home remittances

* Incorporation:

o It was incorporated in Karachi, on 15 October, 1991.

* Parent Company:

o DAWOOD HABIB GROUP, which is the sponsor of Bank AL Habib Limited, has a very long track record of banking which dates back to 1920s. They were among the founder members of Habib Bank Limitedwhich played a major role in meeting the financial and banking needs of Pakistan, and which was nationalized along with other Banks in Pakistan on December 31, 1973.

Under the privatization policy of Government of Pakistan, the DAWOOD HABIB GROUP was granted permission to set up a commercial bank. Bank AL Habib was incorporated as a Public Limited Company in October 1991 and started banking operations in 1992.

* Office address:

o Head Office

126-C, Old Bahawalpur Road Multan Pakistan

* Financial year:

o The financial year of the company ends at December of that particular year.

o So it closes & adjusts its accounts at the end of December.

* Financial Statement Principle used:

o IAS

ICICI

* Stock Exchange:

o It is located on Bombay Stock Exchange.

* Industry & products:

o It is included in Personal, NRI and Business Banking sector. And the products and services offered by the company are:

§ Personal banking:

* Deposits

* Loans

* Cards

* Investments

* Insurance

* Demat services

* Online services

* Wealth management

§ NRI banking:

* Money transfer

* Bank accounts

* Investments

* Property solutions

* Insurance

* Loans

§ Business Banking:

* Corporate net banking

* Cash Management

* Trade services

* FXonline

* SME services

* Online Taxes

* Incorporation:

o It was incorporated in Mumbai, in 1994.

* Parent Company:

o In1955, The World Bank, the Government of India and representatives of Indian industry formed ICICI Limited as a development finance institution to provide medium-term and long-term project financing to Indian businesses. ICICI was not a bank - it could not take retail deposits - and nor was it required to comply with Indian banking requirements for liquid reserves. ICICI borrowed funds from many multilateral agencies (such as the World Bank), often at concessional rates. It used these to make large corporate loans.

o In, 1994 ICICI established Banking Corporation as a banking subsidiary, formerly Industrial Credit and Investment Corporation of India. Later, ICICI Banking Corporation was renamed as 'ICICI Bank Limited'. ICICI founded a separate legal entity, ICICI Bank, to undertake normal banking operations - taking deposits, credit cards, car loans etc.

* Office address:

o Landmark, Race Course Circle, Vadodara 390 007, Gujrat, India.

* Financial year:

o The financial year of the company ends at March.

o So it closes & adjusts its accounts at the end of March.

* Financial Statement Principle used:

o GAAP

Bank of America

* Stock Exchange:

o It is located on New York Stock Exchange.

* Industry & products:

o It is included in Personal & Corporate Banking sector. And the products and services offered by the company are:

§ Online services

§ Checking & savings

§ Cards

§ Insurance

§ Specialized Banking

§ Business banking

§ Home buying, loans & lines of credit

§ Retirement

§ Investments

§ Wealth management

§ Vehicle & other loans

§ International banking

* Incorporation:

o It was incorporated in 1929, in California.

* Parent Company:

o The Bank of Italy was founded in San Francisco in 1904.

o In the late 1920s, President and founder of Bank of America, Los Angeles and Bank of Italy talked about a merger between the two entities. The Los Angeles based bank had exhibited strong growth throughout the 1920s, due in part to its success in developing an advanced branch banking system. The merger was completed in early 1929 and took the name Bank of America.

* Office address:

o 100 North Tryon Street Charlotte, North Carolina 28263

* Financial year:

o The financial year of the company ends at December.

o So it closes & adjusts its accounts at the end of December.

* Financial Statement Principle used:

o GAAP

HSBC

* Stock Exchange:

o It is located on London Stock Exchange.

* Industry & products:

o It is included in Personal & Corporate Banking sector. And the products and services offered by the company are:

§ HSBC plus

§ HSBC Premier

§ Savings

§ Investments

§ Credit Cards

§ Loans

§ Mortgages

§ Insurance

§ International services

* Incorporation:

o It was incorporated in 1865, in Hong Kong.

* Parent Company:

o The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe.

* Office address:

o 8 Canada Square, London E14 5HQ

* Financial year:

o The financial year of the company ends at December.

o So it closes & adjusts its accounts at the end of December.

* Financial Statement Principle used:

o IFRS

BANK AL HABIB

* Presentation Format

o IAS

* Observation on Assets:

o Total assets on 31st December, 2006: Rs. 1,14,99,80,37

o Total assets on 31st December, 2007: Rs. 1,41,23,42,74

o It shows that Bank Al Habib has an increase in Assets by Rs. 26236237 in one year.

o This increase is mainly due to increase in Investments.

* Observation on Liabilities:

o Total Liabilities on 31st December, 2006: Rs. 1,08,47,56,45

o Total Liabilities on 31st December, 2007: Rs. 1,32,90,89,56

o It shows that Bank Al Habib has an increase in Liabilities by Rs. 24433311 in one year.

o This increase is mainly due to increase in Deposits.

* Observation on Equity:

o Total Equity on 31st December, 2006: Rs. 6,52,23,92

o Total Equity on 31st December, 2007: Rs. 8,32,53,18

o It shows that Bank Al Habib has an increase in Equity by Rs. 1802926 in one year.

o This increase is mainly due to increase in Reserves.

* Revenue:

o Rs. 6,21,86,73

* Expense:

o Rs. 3,16,64,46

* Net Income:

o Rs. 2,21,13,33

* Statement of Cash Flows:

o Net cash flows from operating activities: Rs. 20,066,569

o Net cash flows from investing activities: Rs. 16,244,589

o Net cash flows from financing activities: Rs. (30,071)

ICICI

* Presentation Format

o GAAP

* Observation on Assets:

o Total assets on 31st March, 2007: Rs. 3446.58 billion

o Total assets on 31st March, 2008: Rs. 3997.95 billion

o It shows that ICICI has an increase in Assets by 16% in one year.

o This increase is mainly due to increase in Investments & advances.

* Observation on Liabilities:

o Total Liabilities on 31st March, 2007: Rs. 894.84 billion

o Total Liabilities on 31st March, 2008: Rs. 1085.43 billion

o It shows that ICICI has an increase in Liabilities by 17% in one year.

o This increase is mainly due to increase in Borrowings.

* Observation on Equity:

o Total Equity on 31st March, 2007: Rs. 2551734507

o Total Equity on 31st March, 2008: Rs. 2912512597

o It shows that ICICI has an increase in Equity by 12.3% in one year.

o This increase is mainly due to increase in Reserves.

* Revenue:

o Rs. 395991 billion

* Expense:

o Rs. 354413 billion

* Net Income:

o Rs. 51560 billion

* Statement of Cash Flows:

o Net cash flows from operating activities: Rs. 116,311,534

o Net cash flows from investing activities: Rs. 175, 611, 149

o Net cash flows from financing activities: Rs. 299,648,227

Bank of America

* Presentation Format

o GAAP

* Observation on Assets:

o Total assets on 31st December, 2006: $ 1459737 million

o Total assets on 31st December, 2007: $ 1715746 million

o It shows that Bank of America has an increase in Assets by $ 256009 million in one year.

o This increase is mainly due to increase in Loans & Leases.

* Observation on Liabilities:

o Total Liabilities on 31st December, 2006: $ 1324465 million

o Total Liabilities on 31st December, 2007: $ 1568943 million

o It shows that Bank of America has an increase in Liabilities by $ 244478 million in one year.

o This increase is mainly due to increase in Long term debt.

* Observation on Equity:

o Total Equity on 31st December, 2006: $ 135272 million

o Total Equity on 31st December, 2007: $ 146803 million

o It shows that Bank Al Habib has an increase in Equity by $ 11531 million in one year.

o This increase is mainly due to increase in retained earnings.

* Revenue:

o $ 119.19 Billion

* Expense:

o $ 104.21 Billion

* Net Income:

o $ 14.98 Billion

* Statement of Cash Flows:

o Net cash flows from operating activities: $ 11,036

o Net cash flows from investing activities: $108,430

o Net cash flows from financing activities: $ 103,412

HSBC

* Presentation Format

o IFRS

* Observation on Assets:

o Total assets on 31st December, 2006: £m 440760

o Total assets on 31st December, 2007: £m 622280

o It shows that HSBC has an increase in Assets by £m 181520 in one year.

o This increase is mainly due to increase in Trading Assets of the company.

* Observation on Liabilities:

o Total Liabilities on 31st December, 2006: £m 419822

o Total Liabilities on 31st December, 2007: £m 597281

o It shows that HSBC has an increase in Liabilities by £m 177459 in one year.

o This increase is mainly due to increase in Trading Liabilities.

* Observation on Equity:

o Total Equity on 31st December, 2006: £m 20938

o Total Equity on 31st December, 2007: £m 24999

o It shows that HSBC has an increase in Equity by £m 4061 in one year.

o This increase is mainly due to increase in reserves.

* Revenue:

o US$ 146.50 billion

* Expense:

o US$ 127.4 billion

* Net Income:

o US$ 19.1 billion

* Statement of Cash Flows:

o Net cash flows from operating activities: £m 30,330

o Net cash flows from investing activities: £m 28,342

o Net cash flows from financing activities: £m 134

BANK AL HABIB

Accounts Receivable:

* Murabaha receivable: 1,007,878,000

* Receivable from Benefit plan: 33,772,000

* Certificates of Investment : 300,000

* Repurchase agreement lendings (Reverse Repo) 3,812,429

* Total: 4,112,429

Note Receivable:

* Receivable from SBP / Government of Pakistan: 5,675,000

* Lease rentals receivable:

o Not later than one year: 200,632,000

o Later than one year but less than 5 years: 512,845,000

o Total: 713,477,000

ICICI

Account Receivable:

* Securitization, finance lease and hire purchase receivables: 105,551,409

* Receivables from :

o Subsidiaries 3,351.7

o Associates/joint ventures/other related entities: 52.5

o Total: 3,404.2

Note Receivable:

* Maturity buckets Loans & their amounts:

1 to 14 days

299.9

15 to 28 days

857.4

29 days to 3 months

107.3

3 to 6 months

415.2

6 months to 1 year

207.4

1 to 3 years

243.4

3 to 5 years

808.1

Above 5 years

222.1

Bank of America

Account Receivable:

Receivables from subsidiaries:

Bank holding companies and related subsidiaries 30,032

Nonbank companies and related subsidiaries 33,637

Note Receivable:

Loans given: (includes $4,590 measured at fair value at December 31, 2007 and $115,285 and $24,632 pledged as collateral): 876,344

Interest: 14% per annum

HSBC

Account Receivable:

Financial assets designated at fair value: 14,969

Loans and advances to banks: 60,764

Loans and advances to customers: 227,687

Receivables from non-current asset held for sale: 2 £m

Note Receivable:

Finance Lease Receivables:

Total

future

minimum

payments

£m

Unearned

finance

income

£m

Present

value

£m

Lease receivables:

- no later than one year

729

(141)

588

- later than one year and no

later than five years

2,222

(493)

1,729

- later than five years

3,502

(1,146)

2,356

6,453

(1.780)

4,673

Operating Lease Receivables:

Equipment

£m

Future minimum lease payments under non-cancellable operating leases expiring:

- no later than one year

237

- later than one year and no later than five years

670

- later than five years

199

1,106

Interest: 13% per annum

BANK AL HABIB

· Plant Assets & Depreciation

Cost/Revalued Amount

Depreciation

As at 1Jan,07

Additions/

(Deletions)/

Adjustments

As at 31Dec,07

As at 1Jan,07

Additions/

(Deletions)/

Adjustments

As at 31Dec,07

Book Value

Rate of Depreciation %

Rupees in ‘000

Owned Leasehold land

927,994

807,132

1,735,126

1,735,126

Buildings on leasehold land

1,733,661

689,148

2,408,706

121,957

80,923

201,130

2,207,576

2.00-6.67

Improvements to leasehold buildings

102,050

81,476

178,434

5,315

7,115

12,165

166,269

5

Furniture and fixtures

192,042

44,791

226,314

59,306

20,289

75,809

150,505

10

Vehicles

6,300

19,977

25,517

1,891

1,596

2,994

22,523

20

3,030,705

1,760,075

4,847,894

241,362

128,215

417,962

4,429,93

· Disposal:

Particulars

Cost

Book Value

Sale Price

Mode of Disposal

Particulars of purchaser

(Rupees in ‘000)

Furniture and Fixtures

2,507

925

373

Auction

Karachi Auction Mart, 7/C,Mai Kolachi Road, Karachi.

Gain on disposal of operating fixed assets: 20,453

· Intangible Assets:

On balance sheet:

Intangible Asset: 16490(2007) 8805(2006)

· Amortization:

Cost

Amortization

As at 1Jan,07

Additions

As at 31Dec,07

As at 1Jan,07

Charge

As at 31Dec,07

Book Value

Rate of Amortization %

Rupees in ‘000

Computer software

69,069

22,193

91,262

60,264

14,508

74,772

16,490

50

ICICI

Plant Assets & Depreciation:

1) Building

At cost as on March 31 of preceding year

20,496,202

Additions during the year

2,719,704

Deductions during the year

(272,987)

Depreciation to date

(3,326,017)

Net block

19,616,902

2) Furniture's, Fixtures & Other Assets:

At cost as on March 31 of preceding year

24,352,894

Additions during the year

5,588,730

Deductions during the year

(603,577)

Depreciation to date

(15,836,691)

Net block

13,501,356

3) Assets given on lease:

At cost as on March 31 of preceding year

18,136,532

Additions during the year

-

Deductions during the year

(57,460)

Depreciation to date, accumulated lease adjustment and provisions

(10,108,355)

Net block

7,970,717

Total Plant Assets

41,088,975

Depreciation Rate of Plant Assets:

Asset

Depreciation Rate

Premises owned by the Bank

1.63%

Improvements to leasehold premises

1.63% or over the lease period,

whichever is higher

ATMs

12.50%

Plant and machinery like air conditioners, photo-copying machines, etc.

10.00%

Computers

33.33%

Card acceptance devices

12.50%

Furniture and fixtures

15.00%

Motor vehicles

20.00%

Others (including Software and system development expenses)

25.00%

Intangible Assets & Amortization:

Intangible asset includes Software acquired by the bank. The movement in software as on March 31, 2008 is given below:

At cost as on March 31st of preceding year

3,216.4

Additions during the year

1,235.4

Deductions during the year.

(3.0)

AMORTIZATION to date

(2,847.4)

Net block

1,601.4

Bank of America

Plant Asset & Depreciation:

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is recognized using the straight-line method over the estimated useful lives of the assets. Estimated lives range up to 40 years for buildings, up to 12 years for furniture and equipment, and the shorter of lease term or estimated useful life for leasehold improvements.

Premises & Equipment

12408

Less: Accumulated Depreciation

(1168)

Premises & Equipment: Net

11240

Intangible Asset & Amortization:

At December 31, 2007, intangible assets included on the Consolidated Balance Sheet consist of purchased credit card relationship intangibles, core deposit intangibles, affinity relationships, and other intangibles that are amortized on an accelerated or straight-line basis over anticipated periods of benefit of up to 15 years.

Intangible Asset

11972

Less: Amortization

(1676)

Intangible Asset: Net

10296

HSBC

Plant Asset & Depreciation:

Freehold

land and

Buildings

£m

Long

leasehold

land and

buildings

£m

Short

leasehold

land and

buildings

£m

Equipment,

fixtures

and fittings

£m

Equipment

on

operating

leases

£m

Total

£m

Cost or fair value

At 1 January 2007

966

362

275

2657

3004

7264

Additions at cost

104

3

84

321

66

578

Acquisition of subsidiaries

49

-

-

1

-

50

Fair value adjustments

13

-

-

-

-

13

Disposals

(257)

(320)

(12)

(135)

(65)

(789)

Transfers

-

-

4

(1)

-

3

Exchange translation

differences

55

-

4

69

-

128

Other changes

(6)

-

2

(9)

-

(13)

At 31 December 2007

924

45

357

2903

3005

7234



Accumulated Depreciation

At 1 January 2007

(97)

(27)

(150)

(1656)

(926)

(2856)

Depreciation charge for the

year

(22)

(3)

(22)

(281)

(100)

(428)

Disposals

48

15

8

76

58

205

Transfers

-

-

(2)

-

-

(2)

Impairment losses recognized

-

-

-

-

-

-

Impairment losses reversed

6

-

-

-

-

6

Exchange translation

differences

(4)

-

(2)

(39)

-

(45)

Other changes

(6)

-

(1)

12

-

5

At 31 December 2007

(75)

(15)

(169)

(1888)

(968)

(3115)

Net book value at 31 December 2007

849

30

188

1015

2037

4119

Intangible Asset & Amortization:

Trade Names

£m

Internally generated software

£m

Purchased Software

£m

Customer Relationships

£m

Other

£m

Total

£m

Cost

At 1 January 2007

13

675

58

244

17

1007

Additions

-

103

15

-

4

122

Disposals

-

-

(2)

-

-

(2)

Exchange translation

differences

2

9

7

69

-

128

Other changes

-

1

-

(40)

(10)

(49)

At 31 December 2007

15

788

78

204

12

1097



Accumulated Amortization

At 1 January 2007

(5)

(441)

(38)

(73)

(1)

(588)

Amortization charge for the

year

(1)

(75)

(12)

(19)

(1)

(108)

Impairment charge for the year

-

(1)

-

-

-

(1)

Disposals

-

-

3

-

-

3

Exchange translation

differences

(1)

(9)

(4)

-

-

(14)

Other changes

-

-

-

40

-

40

At 31 December 2007

(7)

(526)

(51)

(52)

(2)

(638)

Net book value at 31 December 2007

8

262

27

152

10

459

BANK AL HABIB

Current Liabilities:

Bills payable

2,394,482

Borrowings

9,826,525

Deposits and other accounts

114,818,855

Sub-ordinated loans

2,848,080

Liabilities against assets subject to finance lease

642,369

Deferred tax liabilities

559,646

Mark-up / return / interest payable in local currency

520,700

Mark-up / return / interest payable in foreign currencies

101,408

Accrued expenses

56,056

Advance payments

128,751

Taxation (Provision less payments)

43,951

Unclaimed dividends

18,569

Special exporters' accounts in foreign currencies

37,046

Unearned income

10,299

Others

424,699

Long Term Liabilities:

Borrowing from SBP under Long term financing for export Orientated Projects: 1,452,489

Leasing:

Leases where the Bank assumes substantially all the risks and rewards of ownership are classified as finance leases. Assets subject to finance lease are accounted for by recording the assets and related liability. These are stated at lower of fair value and the present value of minimum lease payments at the inception of lease less accumulated depreciation. Financial charges are allocated over the period of lease term so as to provide a constant periodic rate of financial charge on the outstanding liability. Depreciation is charged on the basis similar to the owned assets.

Adjustment for Financial charges on leased assets: 85,613

Payments of lease obligations: (404,847)

Net investment in finance lease In Pakistan: 639, 85

Cost/Revalued Amount

Depreciation

As at 1Jan,07

Additions/

(Deletions)/

Adjustments

As at 31Dec,07

As at 1Jan,07

Additions/

(Deletions)/

Adjustments

As at 31Dec,07

Book Value

Rate of Depreciation %

Rupees in ‘000

Owned Leasehold land

927,994

807,132

1,735,126

1,735,126

Buildings on leasehold land

1,733,661

689,148

2,408,706

121,957

80,923

201,130

2,207,576

2.00-6.67

Improvements to leasehold buildings

102,050

81,476

178,434

5,315

7,115

12,165

166,269

5

ICICI

Current Liabilities:

I. Bills payable

29,007,972

II. Inter-office adjustments (net)

4,293,542

III. Interest accrued

25,968,705

IV. Unsecured redeemable / perpetual debentures / bonds [Subordinated debt

included in Tier I and Tier II Capital]

207,501,787

V. Others

a) Security deposits from clients

15,197,638

b) Sundry creditors

74,101,312

c) Received for disbursements under special program

2,034,281

d) Provision for standard assets

14,550,250

e) Other liabilities

56,298,340

Long-Term Liabilities:

Borrowings in India: 109,832,187

Borrowings outside India: 546,652,151

Leasing:

Lease income decreased by 8.8% to Rs. 2.17 billion in fiscal 2008 from Rs. 2.38 billion in fiscal 2007 primarily due to decrease in leased assets to Rs. 7.97 billion at year-end fiscal 2008 compared to Rs. 10.03 billion at year-end fiscal 2007, since the Bank is not entering into new lease transactions.

* Lease Income during 2008: 2.17 billion

* Lease depreciation, net of lease equalization: 1.82

* Fixed Leased assets: 41.09 billion

* Assets given on Lease:

At cost as on March 31 of preceding year

18,136,532

Deductions during the year

(57,460)

Depreciation to date, accumulated lease adjustment and provisions

(10,108,355)

Net block

7,970,717

Bank of America

Current Liabilities:

Deposits in domestic offices:

Noninterest-bearing

188,466

Interest-bearing

501,882

Deposits in foreign offices:

Noninterest-bearing

3,761

Interest-bearing

111,068

Total deposits

805,177


Federal funds purchased and securities sold under agreements to repurchase

221,435

Trading account liabilities

77,342

Derivative liabilities

22,423

Commercial paper and other short-term borrowings

191,089

Accrued expenses and other liabilities (includes $660 measured at fair value at December 31,

53,969

Long-Term Liabilities:

Long-term debt: 197,508

Leasing:

Leased Assets: 876,344

Allowance for leased assets: (11,588)

Leased Assets, net of allowance: 864,756

HSBC

Current Liabilities:

Deposits by banks

48,786

Customer accounts

268,269

Items in the course of transmission to other banks

1,975

Trading liabilities

117,454

Financial liabilities designated at fair value

15,659

Derivatives

61,539

Debt securities in issue

50,921

Other liabilities

6,843

Current tax liabilities

467

Accruals and deferred income

6,509

Provisions

427

Deferred tax liabilities

302

Subordinated liabilities

5,205

Long Term Liabilities:

Retirement benefit liabilities

674

Liabilities under insurance contracts issued

12,251

Leasing:

The group's freehold and long leasehold properties were valued in 2007. The value of these properties was £284 million in excess of their carrying amount in the consolidated balance sheet.

When the group is a lessor under finance leases the amounts due under the leases, after deduction of unearned charges, are included in ‘Loans and advances to banks' or ‘Loans and advances to customers' as appropriate.

When the group is a lessee under finance leases the leased assets are capitalized and included in ‘Property, plant and equipment' and the corresponding liability to the lessor is included in ‘Other liabilities'.

* Large Leasehold Land & Buildings: 45 £m

* Short Leasehold Land & Buildings: 357 £m

* Equipment on Operating Leases: 3005 £m

BANK AL HABIB

Cash Flow from Operating Activities

Profit before taxation

3,052,227

Dividend income

(31,321)

3020906

Adjustments for:

Depreciation

338,707

Amortisation

52,587

Provision against non-performing loans and advances

92,687

Provision for diminution in the value of investment

579

Gain on disposal of operating fixed assets

(20,453)

Financial charges on leased assets

85,613

Charge for compensated absences

54,102

603822

3624728

Decrease / (Increase) in Operating Assets:

Lendings to financial institutions

2,466,371

Advances

(8,521,106)

Other assets (excluding advance taxation)

(333,771)

(6,388,506)

Increase / (Decrease) in Operating Liabilities

Bills Payable

1003869

Borrowings

(962,029)

Deposits

23,398,892

Other Liabilities

759,485

24,200,217

21,436,439

Income tax paid

(1,369,870)

Net cash flows from operating activities

20,066,569

Cash Flow from Investing Activities

Net investments

(14,290,756)

Dividend received

31,919

Investments in operating fixed assets

(2,014,156)

Sale proceeds of property and equipment disposed-off

28,404

Net cash flows from investing activities

(16,244,589)

Cash Flow from Financing Activities

Sub-ordinated loans

760,160

Payments of lease obligations

(404,847)

Dividend paid

(388,505)

Exchange differences on translation of

net investment in foreign branch

3,121

Net cash flows from financing activities

(30,071)

Increase in cash and cash equivalents

3,791,909

Cash and cash equivalents at the beginning of the year

10,579,333

Cash and cash equivalents at the end of the year

14,371,242

Cash Payments for operating Expenses:

Decrease / (Increase) in Operating Assets:

Lendings to financial institutions

2,466,371

Advances

(8,521,106)

Other assets (excluding advance taxation)

(333,771)

(6,388,506)

Increase / (Decrease) in Operating Liabilities

Bills Payable

1003869

Borrowings

(962,029)

Deposits

23,398,892

Other Liabilities

759,485

24,200,217

Relationship between Statement of Cash flows & Balance sheet:

On balance sheet:

Cash and balances with treasury banks

13,766,500

Balances with other banks

604,742

Total

14,371,242

On Statement of Cash flows;

Increase in cash and cash equivalents

3,791,909

Cash and cash equivalents at the beginning of the year

10,579,333

Cash and cash equivalents at the end of the year

14,371,242

ICICI

Cash flow from operating activities

Net profit before taxes

50,560,977

Adjustments for:

Depreciation and amortization

7,711,011

Net (appreciation) / depreciation on investments

10,279,608

Provision in respect of non-performing assets

(including prudential provision on standard assets)

27,009,924

Provision for contingencies & others

1,413,354

Income from subsidiaries, joint ventures and consolidated entities

(12,783,599)

(Profit) / Loss on sale of fixed assets

(656,069)

83,535,206

Adjustments for:

(Increase) / decrease in investments

(25,015,908)

(Increase) / decrease in advances

(320,850,355)

Increase / (decrease) in borrowings

43,122,293

Increase / (decrease) in deposits

126,079,339

(Increase) / decrease in other assets

(27,149,533)

Increase / (decrease) in other liabilities and provisions

22,330,716

(181,483,448)

Refund / (payment) of direct taxes

(18,363,292)

Net cash generated from operating activities

(116,311,534)


Cash flow from investing activities

Investments in subsidiaries and/or joint ventures

(44,379,917)

Income from subsidiaries, joint ventures and consolidated entities

12,783,799

Purchase of fixed assets

(9,592,487)

Proceeds from sale of fixed assets

1,064,035

(Purchase) / sale of held to maturity securities

(135,486,579)

Net cash generated from investing activities

(175,611,149)


Cash flow from financing activities

Proceeds from issue of share capital

(including ESOPs) net of issue expenses

197,897,060

Net proceeds / (repayment) of bonds (including subordinated debt)

112,316,167

Dividend and dividend tax paid

(10,565,000)

Net cash generated from financing activities

299,648,227

Effect of exchange fluctuation on translation reserve

(890,065)

Net cash and cash equivalents taken over from Sangli Bank Limited on amalgamation

2,362,563

Net increase / (decrease) in cash and cash equivalents

9,198,042

Cash and cash equivalents as at April 1

371,213,247

Cash and cash equivalents as at March 31

380,411,289

Relationship between Statement of Cash flows & Balance sheet:

On balance sheet:

Cash and balances with Reserve Bank of India

293,775,337

Balances with other banks

86,635,952

Total

380,411,289

On Statement of Cash Flow:

Net increase / (decrease) in cash and cash equivalents

9,198,042

Cash and cash equivalents as at April 1

371,213,247

Cash and cash equivalents as at March 31

380,411,289

Bank of America

Operating activities

Net income

$ 14,982

Reconciliation of net income to net cash provided by (used in) operating activities:

Provision for credit losses

8,385

(Gains) losses on sales of debt securities

(180)

Depreciation and premises improvements amortization

1,168

Amortization of intangibles

1,676

Deferred income tax (benefit) expense

(753)

Net increase in trading and derivative instruments

(8,108)

Net increase in other assets

(15,855)

Net increase (decrease) in accrued expenses and other liabilities

4,190

Other operating activities, net

5,531

Net cash provided by (used in) operating activities

11,036

Investing activities

Net (increase) decrease in time deposits placed and other short-term investments

2,191

Net (increase) decrease in federal funds sold and securities purchased under agreements to resell

6,294

Proceeds from sales of available-for-sale debt securities 28,107

Proceeds from paydowns and maturities of available-for-sale debt securities

19,233

Purchases of available-for-sale debt securities

(28,016)

Proceeds from maturities of held-to-maturity debt securities

630

Purchases of held-to-maturity debt securities

(314)

Proceeds from sales of loans and leases

57,875

Other changes in loans and leases, net

(177,665)

Net purchases of premises and equipment

(2,143)

Proceeds from sales of foreclosed properties

104

(Acquisition) divestiture of business activities, net

(19,816)

Other investing activities, net

5,040

Net cash used in investing activities

(108,480)

Financing activities

Net increase in deposits

45,368

Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase

(1,448)

Net increase in commercial paper and other short-term borrowings

32,840

Proceeds from issuance of long-term debt

67,370

Retirement of long-term debt

(28,942)

Proceeds from issuance of preferred stock

1,558

Redemption of preferred stock

(270)

Proceeds from issuance of common stock

1,118

Common stock repurchased

(3,790)

Cash dividends paid

(10,878)

Excess tax benefits of share-based payments

254

Other financing activities, net

(38)

Net cash provided by financing activities

103,412

Effect of exchange rate changes on cash and cash equivalents

134

Net increase (decrease) in cash and cash equivalents

6,102

Cash and cash equivalents at January 1

36,429

Cash and cash equivalents at December 31

42,531

Relationship between Statement of Cash flows & Balance sheet:

On balance sheet:

Cash & Cash Equivalents

42531

On Statement of Cash Flows:

Net increase (decrease) in cash and cash equivalents

6,102

Cash and cash equivalents at January 1

36,429

Cash and cash equivalents at December 31

42,531

HSBC

Cash flows from operating activities

Profit before tax

4,081

Adjustments for:

- non-cash items included in profit before tax

2,023

- change in operating assets

(56,617)

- change in operating liabilities

83,551

- elimination of exchange differences

(1,792)

- net gain from investing activities

(552)

- share of (profits)/ losses in associates and joint ventures

(47)

- distributions from/ (to) associates

7

- contributions paid for defined benefit pension schemes

548

- tax paid

(872)

Net cash from operating activities

30,330


Cash flows used in investing activities

Purchase of financial investments

(71,980)

Proceeds from the sale of financial investments

43,217

Purchase of property, plant and equipment

(578)

Proceeds from the sale of property, plant and equipment

67

Purchase of goodwill and intangible assets

(123)

Net cash outflow from acquisition of and increase in stake of subsidiaries

9

Net cash outflow from acquisition of and increase in stake of associates

(118)

Proceeds from disposal of associates

982

Purchases of HSBC Holdings plc shares to satisfy share based payment transactions

182

Net cash used in investing activities

(28,342)


Cash flows used in financing activities

Issue of share capital

1,510

Subordinated loan capital issued

59

Subordinated loan capital repaid

10

Dividends paid to shareholders

(1,706)

Dividends paid to minority interests

(7)

Net cash used in financing activities

(134)

Net increase in cash and cash equivalents

1,854

Cash and cash equivalents at 1 January

46,721

Effect of exchange rate changes on cash and cash equivalents

2,660

Cash and cash equivalents at 31 December

51,235

Relationship between Statement of Cash flows & Balance sheet:

On balance sheet:

Cash and balances at central banks

7,146

Items in the course of collection from other banks

2,434

Loans and advances to banks of one month or less

37,751

Treasury bills, other bills and certificates of deposit less than three months

5,879

Less: items in the course of transmission to other banks

(1,975)

Total cash and cash equivalents

51,235

On Statement of Cash Flows:

Net increase in cash and cash equivalents

1,854

Cash and cash equivalents at 1 January

46,721

Effect of exchange rate changes on cash and cash equivalents

2,660

Cash and cash equivalents at 31 December

51,235

Annexure

* http://www.bankalhabib.com/financialReport.php

* http://media.corporate-ir.net/media_files/irol/71/71595/reports/2007_AR/index.html

* http://www.hsbc.co.uk/1/2/about/financial-reports;jsessionid=0000FBt0LmZBzwcy4AXTKWr0BPP:12ntf1ep0

* http://www.icicibank.com/pfsuser/aboutus/investorelations/annualreport/icicibank/annualreport.htm

* http://en.wikipedia.org/wiki/Bank_AL_Habib

* http://en.wikipedia.org/wiki/ICICI

* http://en.wikipedia.org/wiki/Bank_of_america

* http://en.wikipedia.org/wiki/HSBC

* https://www.bankofamerica.com/index.jsp