INDIA
SCHEDULES TO FINANCIAL STATEMENTS AS AT 31 MARCH 2014
Currency: Indian rupees in thousands
39. Related Parties
Related parties disclosures under AS 18 include:
Ultimate Parent
DBS Group Holding Limited
Parent
DBS Bank Ltd., Singapore
Branches of ParentSubsidiaries of Parent
● DBS Bank Hong Kong Limited
● DBS Bank Ltd., London
● DBS Bank Ltd., Tokyo
● DBS Bank Ltd., Taipei
● DBS Bank Ltd., Los Angeles
● DBS Bank China Limited
● PT Bank DBS Indonesia
Entity over which the Bank exercises control
● DBS Bank Employees’ Provident Fund Trust
Key Management Personnel
● Sanjiv Bhasin: General Manager and Chief Executive Oficer
With regard to RBI Circular No. DBOD.BP.BC No.7 21.04.0182013-14 dated 01 July 2013, the Bank has not disclosed details pertaining to related parties where under a category, there is only one entity. Accordingly disclosures have only been made for
transactions with “Branches of Parent Subsidiaries of Parent”.
ItemsRelated Party 31 Mar 2014
31 Mar 2013
Deposit –
– –
– Placement of Deposits
164,816 59,632
6,225,917 5,228,380
Borrowings 68
68
2,995,818 2,171,468
GuaranteesDerivativesForward Contracts 4,236,807
644,840 4,236,807
771,839 Interest paid
656 474
Interest received 111
64 Rendering of services
8,010 736
Receiving of services 14,119
22,589 Figures in brackets indicate maximum outstanding during the year
Material related party transactions are given below: A speciic related party transaction is disclosed as a material related party transaction wherever it exceeds 10 of all related party
transactions in that category. Following were the material transactions between the Bank and its related parties:
Placement of Deposits:
Nostro deposit was placed with DBS Bank Ltd., Tokyo INR 34,627 thousands Previous Year: INR 6,426 thousands, Nostro deposit was placed with DBS Bank Ltd., London INR 120,934 thousands Previous Year: INR 51,585 thousands.
GuaranteesDerivativesForward Contracts:
Guarantees given on behalf of DBS Bank Ltd., London INR 4,136,432 thousands Previous Year: INR 611,222 thousands.
INDIA
SCHEDULES TO FINANCIAL STATEMENTS AS AT 31 MARCH 2014
Currency: Indian rupees in thousands
39. Related Parties Continued Interest paid: