2013-14 वित्तीय रिपोर्ट
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Unaudited Financial Results for the Quarter/Nine Months ended 31st December, 2014
| Sr. No. | Particulars | Quarter Ended 31.12.2014 Reviewed | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 31.12.2013 Reviewed | Nine Months Ended 31.12.2014 Reviewed | Nine Months Ended 31.12.2013 Reviewed | Year Ended 31.03.2014 Audited | |
|---|---|---|---|---|---|---|---|---|
| 1 | Interest earned (a)+(b)+(c)+(d) | 10717,99 | 10825,67 | 9690,73 | 32201,62 | 28651,12 | 38939,71 | |
| (a) | Interest /discount on advances/bills | 7715,29 | 7807,42 | 7061,01 | 23263,06 | 20561,91 | 27878,09 | |
| (b) | Income on investments | 2463,57 | 2348,21 | 2175,05 | 7072,31 | 6496,03 | 8695,99 | |
| (c) | Interest on balances with Reserve Bank of India and other inter bank funds | 366,65 | 443,42 | 245,22 | 1263,16 | 1038,36 | 1533,86 | |
| (d) | Others | 172,48 | 226,62 | 209,45 | 603,09 | 554,82 | 831,77 | |
| 2 | Other Income | 1090,35 | 991,65 | 932,07 | 3106,54 | 3136,48 | 4462,74 | |
| 3 | Total Income (1 + 2) | 11808,34 | 11817,32 | 10622,80 | 35308,16 | 31787,60 | 43402,45 | |
| 4 | Interest Expended | 7431,85 | 7424,56 | 6633,59 | 22186,06 | 19810,09 | 26974,36 | |
| 5 | Operating Expenses (a) + (b) | 2037,45 | 1989,83 | 1791,74 | 5900,53 | 5203,84 | 7074,87 | |
| (a) | Employees cost | 1119,78 | 1107,83 | 1055,71 | 3333,11 | 3099,84 | 4139,73 | |
| (b) | Other operating expenses | 917,67 | 882,00 | 736,03 | 2567,42 | 2104,00 | 2935,14 | |
| 6 | Total Expenditure (4+5) excluding provisions and contingencies | 9469,30 | 9414,39 | 8425,33 | 28086,59 | 25013,93 | 34049,23 | |
| 7 | Operating Profit before Provisions and Contingencies (3-6) | 2339,04 | 2402,93 | 2197,47 | 7221,57 | 6773,67 | 9353,22 | |
| 8 | Provisions (other than tax) and Contingencies | 1262,25 | 888,04 | 761,87 | 2677,00 | 2640,56 | 3793,71 | |
| 9 | Exceptional Items | ---- | ---- | 15,55 | ---- | 46,65 | 62,20 | |
| 10 | Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) | 1076,79 | 1514,89 | 1420,05 | 4544,57 | 4086,46 | 5497,31 | |
| 11 | Tax expenses | 742,81 | 410,67 | 372,21 | 1744,49 | 702,65 | 956,23 | |
| 12 | Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) | 333,98 | 1104,22 | 1047,84 | 2800,08 | 3383,81 | 4541,08 | |
| 13 | Extraordinary items (net of tax expenses) | - | - | - | - | - | - | |
| 14 | Net Profit (+) / Loss (-) for the period (12-13) | 333,98 | 1104,22 | 1047,84 | 2800,08 | 3383,81 | 4541,08 | |
| 15 | Paid-up equity share capital (Face Value of Rs.10 each) | 430,68 | 430,68 | 422,52 | 430,68 | 422,52 | 430,68 | |
| 16 | Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) | -- | -- | -- | -- | -- | 34502,39 | |
| 17 | Analytical Ratios | |||||||
| i) | Percentage of shares held by Government of India | 56.26 | 56.26 | 55.41 | 56.26 | 55.41 | 56.26 | |
| ii) | Capital Adequacy Ratio | |||||||
| a | Capital Adequacy Ratio (%)- Basel-II | 12.94 | 12.69 | 12.26 | 12.94 | 12.26 | 12.87 | |
| b | Capital Adequacy Ratio (%)- Basel-III | 12.42 | 12.19 | 12.01 | 12.42 | 12.01 | 12.28 | |
| iii) | Earnings Per Share | |||||||
| Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] | 7.78 | 25.71 | 24.87 | 65.21 | 80.33 | 107.38 | ||
| iv) | NPA Ratios | |||||||
| (a) | Gross NPA | 15452,96 | 13057,57 | 11925,76 | 15452,96 | 11925,76 | 11875,90 | |
| Net NPA | 8291,25 | 6704,51 | 6623,60 | 8291,25 | 6623,60 | 6034,76 | ||
| (b) | % of Gross NPA | 3.85 | 3.32 | 3.32 | 3.85 | 3.32 | 2.94 | |
| % of Net NPA | 2.11 | 1.74 | 1.88 | 2.11 | 1.88 | 1.52 | ||
| v) | Return on Assets (annualized) % | 0.20 | 0.68 | 0.73 | 0.57 | 0.80 | 0.75 | |
| 18 | Public Shareholding | |||||||
| - | No. of shares | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | |
| - | Percentage of shareholding | 43.74 | 43.74 | 44.59 | 43.74 | 44.59 | 43.74 | |
| 19 | Promoters and promoter group Shareholding | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| (a) | Pledged/Encumbered | |||||||
| - | Number of shares | -- | -- | -- | -- | -- | -- | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | -- | -- | -- | -- | -- | -- | |
| - | Percentage of share (as a % of the total share capital of the bank) | -- | -- | -- | -- | -- | -- | |
| (b) | Non-encumbered | |||||||
| - | Number of shares | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |
| - | Percentage of share (as a % of the total share capital of the bank) | 56.26 | 56.26 | 55.41 | 56.26 | 55.41 | 56.26 |
Notes forming part of the Unaudited financial results for the Quarter/Nine Months ended 31st December, 2014
- The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 29th January 2015 and approved by the Board of Directors in their meeting held on 30th January 2015. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
- The above results for the quarter / nine months ended 31st December, 2014 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2014.
- In accordance with RBI circular no. DBOD.BP.BC.80/21.04.018/2010-11 dated 9th February, 2011, out of the additional pension fund liability as on 31st March, 2011 of Rs. 1829.90 crores towards serving employees who exercised option for pension, a proportionate sum of Rs. 91.50 crores has been charged to the Profit and Loss Account during the quarter ended 31st Dec 2014. The unamortized pension fund liability of Rs. 91.50 crores will be charged proportionately in accordance with the directions contained in the said circular..
- The financial results for the quarter / nine months ended 31st December 2014 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%. Further, the Bank has made additional ad-hoc provision of Rs. 340.56 Crores during the nine months (during the quarter -NIL-) in certain non performing domestic advance accounts.
- Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis.
- Non Performing Loan Provisioning Coverage Ratio is 62.37 % as on 31st Dec, 2014.
- During the nine months the Bank has sold financial Assets with net book value of Rs. 185.54 Crores to Assets reconstruction companies on cash and Security receipt basis in accordance with RBI guidelines (during the quarter -NIL-). The security receipts are treated as non SLR Investments.
- Based on available data, financial statements and the declaration wherever received from the borrowers, the bank has estimated the liability of Rs.65.40 Crores as on 31st December 2014 towards unhedged foreign currency exposures of its constituents in terms of RBI circular no. DBOD.BP.BC .85/21.06.200/2013-14 dated 15th January 2014 and circular no. DBOD.BP.BC.116/21.06.200/ 2013-14 dated 3rd June 2014 and has fully provided for the same.
- Tax expenses for the quarter ended December 2014 includes an amount of Rs. 374.86 Crores levied by Dubai Income Tax Authorities, pertaining to earlier years. In addition, penalty of Rs. 38.44 Crores was also levied by the tax authority, which is included in other operating expenses.
- During the quarter penalty of Rs. 0.25 Crs was levied by Reserve Bank of India on the Bank for non compliance of KYC norms. In overseas Operations, a penalty of Rs. 2.33 Crores was paid to Central Bank of UAE for breach of wage protection system and Rs. 0.16 Crores to Central Bank of China for breaching the short term debt limits.
- As approved by the Board of the Bank in its meeting held on 6th November 2014, face value of the existing one equity share of Rs. 10/- each fully paid up is reduced/sub divided in to five equity shares of Rs. 2/- each fully paid up. The record date for the sub division was 23rd January 2015.
- Details of Investor's complaints for the quarter ended 31.12.2014: Pending at Beginning - Nil; Received -111; Disposed off - 111; Closing - Nil
- Statement of Assets & Liabilities is as under:-
Capital & Liabilities
| Title | As on 31st Dec 2014 Reviewed | As on 31st Dec 2013 Reviewed |
|---|---|---|
| Capital | 430,68 | 422,52 |
| Reserves and Surplus | 38666,30 | 35231,65 |
| Deposits | 564599,67 | 503771,79 |
| Borrowings | 32467,21 | 29304,14 |
| Other Liabilities and Provisions | 20714,17 | 18638,33 |
| Total | 656878,03 | 587368,43 |
Assets
| Title | As on 31st Dec 2014 Reviewed | As on 31st Dec 2013 Reviewed |
|---|---|---|
| Cash and Balances with Reserve Bank of India | 18831,95 | 16742,37 |
| Balances with Banks and Money at Call and Short Notice | 96827,85 | 87598,78 |
| Investments | 132224,09 | 115209,51 |
| Advances | 393630,50 | 352446,18 |
| Fixed Assets | 2727,57 | 2562,12 |
| Other Assets | 12636,07 | 12809,47 |
| Total | 656878,03 | 587368,43 |
The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Segment reporting for the Quarter /Half year ended 30th September, 2014
Part A: Business Segments
Segment Revenue
| Particulars | Quarter Ended 31.12.2014 Reviewed | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 31.12.2013 Reviewed | Nine Months Ended 31.12.2014 Reviewed | Nine Months Ended 31.12.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 3005,93 | 2866,45 | 2625,42 | 8696,59 | 8370,02 | 11121,44 |
| Wholesale Banking | 4458,44 | 4667,62 | 4118,51 | 13603,61 | 11950,82 | 16339,73 |
| Retail Banking | 2978,07 | 2859,70 | 2653,99 | 8781,87 | 7805,59 | 10863,36 |
| Banking & Other Operations | 1365,90 | 1423,55 | 1224,88 | 4226,09 | 3661,17 | 5077,92 |
| Total Revenue | 11808,34 | 11817,32 | 10622,80 | 35308,16 | 31787,60 | 43402,45 |
Segment Results
| Particulars | Quarter Ended 31.12.2014 Reviewed | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 31.12.2013 Reviewed | Nine Months Ended 31.12.2014 Reviewed | Nine Months Ended 31.12.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 571,94 | 235,08 | 459,91 | 1772,36 | 1376,33 | 1527,24 |
| Wholesale Banking | (304,91) | 253,09 | (56,49) | (423,27) | 17,01 | (461,11) |
| Retail Banking | 752,08 | 746,33 | 904,99 | 2395,73 | 2012,35 | 3359,84 |
| Banking & Other Operations | 614,28 | 796,76 | 409,57 | 2352,50 | 1776,26 | 2458,02 |
| Total | 1633,39 | 2031,26 | 1717,98 | 6097,32 | 5181,95 | 6883,99 |
| Unallocated Expenditure | 556,60 | 516,37 | 297,93 | 1552,75 | 1095,49 | 1386,68 |
| Profit before Tax | 1076,79 | 1514,89 | 1420,05 | 4544,57 | 4086,46 | 5497,31 |
| Provision for Tax | 742,81 | 410,67 | 372,21 | 1744,49 | 702,65 | 956,23 |
| Net Profit | 333,98 | 1104,22 | 1047,84 | 2800,08 | 3383,81 | 4541,08 |
Capital Employed
| Particulars | Quarter Ended 31.12.2014 Reviewed | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 31.12.2013 Reviewed | Nine Months Ended 31.12.2014 Reviewed | Nine Months Ended 31.12.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 9635,42 | 9382,48 | 8575,39 | 9635,42 | 8575,39 | 7807,94 |
| Wholesale Banking | 10132,21 | 10009,20 | 9720,94 | 10132,21 | 9720,94 | 10291,53 |
| Retail Banking | 5454,64 | 5145,20 | 4706,26 | 5454,64 | 4706,26 | 4559,29 |
| Banking & Other Operations | 13428,44 | 13673,70 | 12273,57 | 13428,44 | 12273,57 | 12937,31 |
| Unallocated | 446,27 | 424,33 | 378,01 | 446,27 | 378,01 | 389,61 |
| Total Capital Employed | 39096,98 | 38634,91 | 35654,17 | 39096,98 | 35654,17 | 35985,68 |
Part- B : Geographic Segments
| Particulars | Quarter Ended 31.12.2014 Reviewed | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 31.12.2013 Reviewed | Nine Months Ended 31.12.2014 Reviewed | Nine Months Ended 31.12.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Domestic | 10441,75 | 10395,45 | 9397,85 | 31083,72 | 28127,62 | 38421,82 |
| International | 1366,59 | 1421,87 | 1224,95 | 4224,44 | 3659,98 | 4980,63 |
| Total | 11808,34 | 11817,32 | 10622,80 | 35308,16 | 31787,60 | 43402,45 |
| Assets | ||||||
| Domestic | 435507,52 | 431363,07 | 391369,73 | 435507,52 | 391369,73 | 427952,61 |
| International | 221370,51 | 228399,46 | 195998,70 | 221370,51 | 195998,70 | 231551,92 |
| Total | 656878,03 | 659762,53 | 587368,43 | 656878,03 | 587368,43 | 659504,53 |
Notes on Segment Reporting
- As per guidelines of RBI on compliance with Accounting Standards, The Bank has adopted "Treasury Operations", Wholesale, Retail and " Banking & Other Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
- Segment revenue represents revenue from external customers.
- In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
- Capital employed for each segment has been allocated proportionate to the assets of the segment.
- Results, Revenue and Capital Employed of International Operations is included in Banking and other operations.
| B B Joshi Executive Director |
Ranjan Dhawan Executive Director |
Place : Mumbai
Date : 30.01.2015
Unaudited Financial Results for the Quarter/Half year ended 30th September, 2014
| Sr. No | Particulars | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 30.09.2013 Reviewed | Half Year Ended 30.09.2014 Reviewed | Half Year Ended 30.09.2013 Reviewed | Year Ended 31.03.2014 Audited | |
|---|---|---|---|---|---|---|---|---|
| 1 | Interest earned (a)+(b)+(c)+(d) | 10825,67 | 10657,96 | 9473,45 | 21483,63 | 18960,39 | 38939,71 | |
| (a) | Interest /discount on advances/bills | 7807,42 | 7740,35 | 6832,31 | 15547,77 | 13500,90 | 27878,09 | |
| (b) | Income on investments | 2348,21 | 2260,53 | 2220,27 | 4608,74 | 4320,98 | 8695,99 | |
| (c) | Interest on balances with Reserve Bank of India and other inter bank funds | 443,42 | 453,09 | 281,32 | 896,51 | 793,14 | 1533,86 | |
| (d) | Others | 226,62 | 203,99 | 139,55 | 430,61 | 345,37 | 831,77 | |
| 2 | Other Income | 991,65 | 1024,54 | 973,86 | 2016,19 | 2204,41 | 4462,74 | |
| 3 | Total Income (1 + 2) | 11817,32 | 11682,50 | 10447,31 | 23499,82 | 21164,80 | 43402,45 | |
| 4 | Interest Expended | 7424,56 | 7329,65 | 6578,66 | 14754,21 | 13176,50 | 26974,36 | |
| 5 | Operating Expenses (a) + (b) | 1989,83 | 1873,25 | 1744,07 | 3863,08 | 3412,10 | 7074,87 | |
| (a) | Employees cost | 1107,83 | 1105,50 | 1030,15 | 2213,33 | 2044,13 | 4139,73 | |
| (b) | Other operating expenses | 882,00 | 767,75 | 713,92 | 1649,75 | 1367,97 | 2935,14 | |
| 6 | Total Expenditure (4+5) excluding provisions and contingencies | 9414,39 | 9202,90 | 8322,73 | 18617,29 | 16588,60 | 34049,23 | |
| 7 | Operating Profit before Provisions and Contingencies (3-6) | 2402,93 | 2479,60 | 2124,58 | 4882,53 | 4576,20 | 9353,22 | |
| 8 | Provisions (other than tax) and Contingencies | 888,04 | 526,71 | 860,83 | 1414,75 | 1878,69 | 3793,71 | |
| 9 | Exceptional Items | ---- | ---- | 15,55 | ---- | 31,10 | 62,20 | |
| 10 | Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) | 1514,89 | 1952,89 | 1248,20 | 3467,78 | 2666,41 | 5497,31 | |
| 11 | Tax expenses | 410,67 | 591,01 | 80,10 | 1001,68 | 330,44 | 956,23 | |
| 12 | Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) | 1104,22 | 1361,88 | 1168,10 | 2466,10 | 2335,97 | 4541,08 | |
| 13 | Extraordinary items (net of tax expenses) | - | - | - | - | - | - | |
| 14 | Net Profit (+) / Loss (-) for the period (12-13) | 1104,22 | 1361,88 | 1168,10 | 2466,10 | 2335,97 | 4541,08 | |
| 15 | Paid-up equity share capital (Face Value of Rs.10 each) | 430,68 | 430,68 | 422,52 | 430,68 | 422,52 | 430,68 | |
| 16 | Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) | -- | -- | -- | -- | -- | 34502,39 | |
| 17 | Analytical Ratios | |||||||
| i) | Percentage of shares held by Government of India | 56.26 | 56.26 | 55.41 | 56.26 | 55.41 | 56.26 | |
| ii) | Capital Adequacy Ratio | |||||||
| a | Capital Adequacy Ratio (%)- Basel-II | 12.69 | 12.50 | 12.32 | 12.69 | 12.32 | 12.87 | |
| b | Capital Adequacy Ratio (%)- Basel-III | 12.19 | 11.91 | 12.07 | 12.19 | 12.07 | 12.28 | |
| iii) | Earnings Per Share | |||||||
| Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] | 25.71 | 31.71 | 27.73 | 57.43 | 55.45 | 107.38 | ||
| iv) | NPA Ratios | |||||||
| (a) | Gross NPA | 13057,57 | 12086,81 | 10887,92 | 13057,57 | 10887,92 | 11875,90 | |
| Net NPA | 6704,51 | 6020,78 | 6315,50 | 6704,51 | 6315,50 | 6034,76 | ||
| (b) | % of Gross NPA | 3.32 | 3.11 | 3.15 | 3.32 | 3.15 | 2.94 | |
| % of Net NPA | 1.74 | 1.58 | 1.86 | 1.74 | 1.86 | 1.52 | ||
| v) | Return on Assets (annualized) % | 0.68 | 0.83 | 0.84 | 0.75 | 0.84 | 0.75 | |
| 18 | Public Shareholding | |||||||
| - | No. of shares | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | |
| - | Percentage of shareholding | 43.74 | 43.74 | 44.59 | 43.74 | 44.59 | 43.74 | |
| 19 | Promoters and promoter group Shareholding | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| (a) | Pledged/Encumbered | |||||||
| - | Number of shares | -- | -- | -- | -- | -- | -- | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | -- | -- | -- | -- | -- | -- | |
| - | Percentage of share (as a % of the total share capital of the bank) | -- | -- | -- | -- | -- | -- | |
| (b) | Non-encumbered | |||||||
| - | Number of shares | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |
| - | Percentage of share (as a % of the total share capital of the bank) | 56.26 | 56.26 | 55.41 | 56.26 | 55.41 | 56.26 |
Notes forming part of the Unaudited financial results for the Quarter / Half year ended 30th September, 2014
- The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 6th November 2014 and approved by the Board of Directors in their meeting held on 7th November 2014. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
- The above results for the quarter / half year ended 30th Sept, 2014 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2014.
- In accordance with RBI circular no. DBOD.BP.BC.80/21.04.018/2010-11 dated 9th February, 2011, out of the additional pension fund, liability as on 31st March, 2011 of Rs. 1829.90 crores towards serving employees who exercised option for pension, a proportionate sum of Rs. 91.50 crores has been charged to the Profit and Loss Account during the quarter ended 30th Sept 2014. The unamortized pension fund liability of Rs. 182.98 crores will be charged proportionately in accordance with the directions contained in the said circular.
- The financial results for the quarter / half year ended 30th Sept, 2014 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%. Further, Bank has made additional ad-hoc provision of Rs. 340.56 Crores during the half year (during the quarter -NIL-) in certain non performing domestic advance accounts.
- Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis.
- Non Performing Loan Provisioning Coverage Ratio is 65.39 % as on 30th Sept, 2014.
- During the half year Bank has sold financial Assets with net book value of Rs. 185.54 Crores to Assets reconstruction companies on cash and Security receipt basis in accordance with RBI guidelines (during current quarter -NIL-). The security receipts are treated as non SLR Investments.
- Based on available data, financial statements and the declaration wherever received from the borrowers, the bank has estimated the liability of Rs.30.10 crores as on 30th September 2014 towards unhedged foreign currency exposures of its constituents in terms of RBI circular no. DBOD.BP.BC .85/21.06.200/2013-14 dated 15th January 2014 and circular no. DBOD.BP.BC.116/21.06.200/ 2013-14 dated 3rd June 2014 and has fully provided for the same.
- Details of Investor's complaints for the quarter ended 30.09. 2014: Pending at Beginning - Nil; Received - 71; Disposed off - 71; Closing - Nil
- Statement of Assets & Liabilities is as under:
Capital & Liabilities
| Title | As on 30th June 2014 Reviewed | As on 30th June 2013 Reviewed |
|---|---|---|
| Capital | 430,68 | 422,52 |
| Reserves and Surplus | 38204,23 | 35126,83 |
| Deposits | 566925,87 | 484931,04 |
| Borrowings | 35494,19 | 28557,66 |
| Other Liabilities and Provisions | 18707,56 | 13994,63 |
| Total | 659762,53 | 563032,68 |
Assets
| Title | As on 30th Sep 2014 Reviewed | As on 30th Sep 2013 Reviewed |
|---|---|---|
| Cash and Balances with Reserve Bank of India | 17445,99 | 15680,61 |
| Balances with Banks and Money at Call and Short Notice | 112834,07 | 79979,91 |
| Investments | 129927,32 | 111840,14 |
| Advances | 385766,26 | 339855,27 |
| Fixed Assets | 2795,30 | 2497,59 |
| Other Assets | 10993,59 | 13179,16 |
| Total | 659762,53 | 563032,68 |
The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Segment reporting for the Quarter /Half year ended 30th September, 2014
Part A: Business Segments
Segment Revenue
| Particulars | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 30.09.2013 Reviewed | Half Year Ended 30.09.2014 Reviewed | Half Year Ended 30.09.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 2866,45 | 2824,21 | 2644,69 | 5690,66 | 5744,60 | 11121,44 |
| Wholesale Banking | 4667,62 | 4477,55 | 3960,19 | 9145,17 | 7832,31 | 16339,73 |
| Retail Banking | 2859,70 | 2944,10 | 2573,02 | 5803,80 | 5151,60 | 10863,36 |
| Banking & Other Operations | 1423,55 | 1436,64 | 1269,41 | 2860,19 | 2436,29 | 5077,92 |
| Total Revenue | 11817,32 | 11682,50 | 10447,31 | 23499,82 | 21164,80 | 43402,45 |
Segment Results
| Particulars | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 30.09.2013 Reviewed | Half Year Ended 30.09.2014 Reviewed | Half Year Ended 30.09.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 235,08 | 959,01 | 418,95 | 1194,09 | 916,42 | 1527,24 |
| Wholesale Banking | 253,09 | (286,59) | 150,58 | (33,50) | 73,50 | (461,11) |
| Retail Banking | 746,33 | 818,96 | 524,95 | 1565,29 | 1107,36 | 3359,84 |
| Banking & Other Operations | 796,76 | 941,30 | 639,00 | 1738,06 | 1366,69 | 2458,02 |
| Total | 2031,26 | 2432,68 | 1733,48 | 4463,94 | 3463,97 | 6883,99 |
| Unallocated Expenditure | 516,37 | 479,79 | 485,28 | 996,16 | 797,56 | 1386,68 |
| Profit before Tax | 1514,89 | 1952,89 | 1248,20 | 3467,78 | 2666,41 | 5497,31 |
| Provision for Tax | 410,67 | 591,01 | 80,10 | 1001,68 | 330,44 | 956,23 |
| Net Profit | 1104,22 | 1361,88 | 1168,10 | 2466,10 | 2335,97 | 4541,08 |
Capital Employed
| Particulars | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 30.09.2013 Reviewed | Half Year Ended 30.09.2014 Reviewed | Half Year Ended 30.09.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Treasury Operations | 9382,48 | 8540,02 | 8389,14 | 9382,48 | 8389,14 | 7807,94 |
| Wholesale Banking | 10009,20 | 10170,74 | 9831,81 | 10009,20 | 9831,81 | 10291,53 |
| Retail Banking | 5145,20 | 4844,68 | 4743,62 | 5145,20 | 4743,62 | 4559,29 |
| Banking & Other Operations | 13673,70 | 13436,01 | 12231,13 | 13673,70 | 12231,13 | 12937,31 |
| Unallocated | 424,33 | 418,96 | 353,65 | 424,33 | 353,65 | 389,61 |
| Total Capital Employed | 38634,91 | 37410,41 | 35549,35 | 38634,91 | 35549,35 | 35985,68 |
Part- B : Geographic Segments
| Particulars | Quarter Ended 30.09.2014 Reviewed | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 30.09.2013 Reviewed | Half Year Ended 30.09.2014 Reviewed | Half Year Ended 30.09.2013 Reviewed | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Domestic | 10395,45 | 10246,52 | 9178,76 | 20641,97 | 18729,77 | 38421,82 |
| International | 1421,87 | 1435,98 | 1268,55 | 2857,85 | 2435,03 | 4980,63 |
| Total | 11817,32 | 11682,50 | 10447,31 | 23499,82 | 21164,80 | 43402,45 |
| Assets | ||||||
| Domestic | 431363,07 | 419761,98 | 376542,54 | 431363,07 | 376542,54 | 427952,61 |
| International | 228399,46 | 226727,59 | 186490,14 | 228399,46 | 186490,14 | 231551,92 |
| Total | 659762,53 | 646489,57 | 563032,68 | 659762,53 | 563032,68 | 659504,53 |
Notes on Segment Reporting
- As per guidelines of RBI on compliance with Accounting Standards, The Bank has adopted "Treasury Operations", Wholesale, Retail and " Banking & Other Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
- Segment revenue represents revenue from external customers.
- In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
- Capital employed for each segment has been allocated proportionate to the assets of the segment.
- Results, Revenue and Capital Employed of International Operations is included in Banking and other operations.
| B B Joshi Executive Director |
Ranjan Dhawan Executive Director |
P Srinivas Executive Director |
Place : Mumbai
Date : 07.11.2014
Unaudited Financial Results for the Quarter ended 30th June, 2014
| Sr. No | Particulars | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 31.03.2014 Audited | Quarter Ended 31.03.2014 Audited | Year Ended 31.03.2014 Audited | |
|---|---|---|---|---|---|---|
| 1 | Interest earned (a)+(b)+(c)+(d) | 10657,96 | 10288,59 | 9486,94 | 38939,71 | |
| (a) | Interest /discount on advances/bills | 7740,35 | 7316,18 | 6668,59 | 27878,09 | |
| (b) | Income on investments | 2260,53 | 2199,96 | 2100,71 | 8695,99 | |
| (c) | Interest on balances with Reserve Bank of India and other inter bank funds | 453,09 | 495,50 | 511,82 | 1533,86 | |
| (d) | Others | 203,99 | 276,95 | 205,82 | 831,77 | |
| 2 | Other Income | 1024,54 | 1326,26 | 1230,55 | 4462,74 | |
| 3 | Total Income (1 + 2) | 11682,50 | 11614,85 | 10717,49 | 43402,45 | |
| 4 | Interest Expended | 7329,65 | 7164,27 | 6597,84 | 26974,36 | |
| 5 | Operating Expenses (a) + (b) | 1873,25 | 1871,03 | 1668,03 | 7074,87 | |
| (a) | Employees cost | 1105,50 | 1039,89 | 1013,98 | 4139,73 | |
| (b) | Other operating expenses | 767,75 | 831,14 | 654,05 | 2935,14 | |
| 6 | Total Expenditure (4+5) excluding provisions and contingencies | 9202,90 | 9035,30 | 8265,87 | 34049,23 | |
| 7 | Operating Profit before Provisions and Contingencies (3-6) | 2479,60 | 2579,55 | 2451,62 | 9353,22 | |
| 8 | Provisions (other than tax) and Contingencies | 526,71 | 1153,15 | 1017,86 | 3793,71 | |
| 9 | Exceptional Items | 0 | 15,55 | 15,55 | 62,20 | |
| 10 | Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) | 1952,89 | 1410,85 | 1418,21 | 5497,31 | |
| 11 | Tax expenses | 591,01 | 253,58 | 250,34 | 956,23 | |
| 12 | Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) | 1361,88 | 1157,27 | 1167,87 | 4541,08 | |
| 13 | Extraordinary items (net of tax expenses) | - | - | - | - | |
| 14 | Net Profit (+) / Loss (-) for the period (12-13) | 1361,88 | 1157,27 | 1167,87 | 4541,08 | |
| 15 | Paid-up equity share capital (Face Value of Rs.10 each) | 430,68 | 430,68 | 422,52 | 430,68 | |
| 16 | Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) | -- | -- | -- | 34502,39 | |
| 17 | Analytical Ratios | |||||
| i) | Percentage of shares held by Government of India | 56.26 | 56.26 | 55.41 | 56.26 | |
| ii) | Capital Adequacy Ratio (%)- Basel-II | 12.50 | 12.87 | 12.70 | 12.87 | |
| Capital Adequacy Ratio (%)- Basel-III | 11.91 | 12.28 | 12.46 | 12.28 | ||
| iii) | Earnings Per Share | |||||
| Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] | 31.71 | 27.05 | 27.72 | 107.38 | ||
| iv) | NPA Ratios | |||||
| (a) | Gross NPA | 12086,81 | 11875,90 | 9762,55 | 11875,90 | |
| Net NPA | 6020,78 | 6034,76 | 5440,67 | 6034,76 | ||
| (b) | % of Gross NPA | 3.11 | 2.94 | 2.99 | 2.94 | |
| % of Net NPA | 1.58 | 1.52 | 1.69 | 1.52 | ||
| v) | Return on Assets (annualized) % | 0.83 | 0.74 | 0.85 | 0.75 | |
| 18 | Public Shareholding | |||||
| - | No. of shares | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | |
| - | Percentage of shareholding | 43.74 | 43.74 | 44.59 | 43.74 | |
| 19 | Promoters and promoter group Shareholding | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| (a) | Pledged/Encumbered | |||||
| - | Number of shares | -- | -- | -- | -- | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | -- | -- | -- | -- | |
| - | Percentage of share (as a % of the total share capital of the bank) | -- | -- | -- | -- | |
| (b) | Non-encumbered | |||||
| - | Number of shares | 24,15,71,283 | 24,15,71,283 | 23,34,12,499 | 24,15,71,283 | |
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | |
| - | Percentage of share (as a % of the total share capital of the bank) | 56.26 | 56.26 | 55.41 | 56.26 |
Notes forming part of the Audited financial results for the Quarter / Year ended 31st March, 2014
- The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 27th July 2014 and approved by the Board of Directors in their meeting held on 28th July 2014. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
- The above results for the quarter ended 30th June, 2014 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2014.
- In accordance with RBI circular no. DBOD.BP.BC.80/21.04.018/2010-11 dated 9th February, 2011, out of the additional pension fund liability as on 31st March, 2011 of Rs. 1829.90 crores towards serving employees who exercised option for pension, a proportionate sum of Rs. 91.50 crores has been charged to the Profit and Loss Account during the quarter ended 30th June 2014. The unamortized pension fund liability of Rs. 274.48 crores will be charged proportionately in accordance with the directions contained in the said circular.
- The financial results for the quarter ended 30th June, 2014 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation/provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%. Further, Bank has made additional ad-hoc provision of Rs. 340.56 Crores for the quarter in certain non performing domestic advance accounts.
- Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis.
- Non Performing Loan Provisioning Coverage Ratio is 66.68 % as on 30th June, 2014.
- During the quarter Bank has sold financial Assets with net book value of Rs. 185.54 Crores to Assets reconstruction companies on cash and security receipt basis in accordance with RBI guidelines. The security receipts are treated as non SLR investments.
- In accordance with RBI circular no. DBOD.BP.BC.85/21.06.200/2013-14 dated 15th January 2014 and circular no. DBOD.BP.BC.116/21.06.200/ 2013-14 dated 3rd June 2014, during the quarter Bank has provided estimated liability of Rs. 54.11 Crores towards unhedged Foreign Currency Exposure to its constituents.
- Details of Investor's complaints for the quarter ended 30.06. 2014: Pending at Beginning - Nil; Received - 68; Disposed off - 68; Closing - Nil
- Statement of Assets & Liabilities is as under:-
Capital & Liabilities
| Title | As on 30th June 2014 Reviewed | As on 30th June 2013 Reviewed |
|---|---|---|
| Capital | 430,68 | 422,52 |
| Reserves and Surplus | 36979,73 | 33411,35 |
| Deposits | 551649,09 | 467025,67 |
| Borrowings | 37214,10 | 26480,42 |
| Other Liabilities and Provisions | 20215,97 | 18588,02 |
| Total | 646489,57 | 545927,98 |
Assets
| Title | As on 30th June 2014 Reviewed | As on 30th June 2013 Reviewed |
|---|---|---|
| Cash and Balances with Reserve Bank of India | 17978,67 | 17540,75 |
| Balances with Banks and Money at Call and Short Notice | 109894,15 | 77984,98 |
| Investments | 121652,12 | 115364,24 |
| Advances | 381772,27 | 321313,96 |
| Fixed Assets | 2779,60 | 2464,64 |
| Other Assets | 12412,76 | 11259,41 |
| Total | 646489,57 | 545927,98 |
The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Segment reporting for the Quarter / Year ended 31st March, 2014
Part A: Business Segments
Segment Revenue
| Particulars | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 31.03.2014 Audited | Quarter Ended 31.03.2014 Audited | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|
| Treasury Operations | 2824,21 | 2751,42 | 3099,91 | 11121,44 |
| Wholesale Banking | 4477,55 | 4388,91 | 3872,12 | 16339,73 |
| Retail Banking | 2944,10 | 3057,77 | 2578,58 | 10863,36 |
| Banking & Other Operations | 1436,64 | 1416,75 | 1166,88 | 5077,92 |
| Total Revenue | 11682,50 | 11614,85 | 10717,49 | 43402,45 |
Segment Results
| Particulars | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 31.03.2014 Audited | Quarter Ended 31.03.2014 Audited | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|
| Treasury Operations | 959,01 | 150,91 | 497,47 | 1527,24 |
| Wholesale Banking | 53,97 | (478,12) | (77,08) | (461,11) |
| Retail Banking | 478,40 | 1347,49 | 582,41 | 3359,84 |
| Banking & Other Operations | 941,30 | 681,76 | 727,69 | 2458,02 |
| Total | 2432,68 | 1702,04 | 1730,49 | 6883,99 |
| Unallocated Expenditure | 479,79 | 291,19 | 312,28 | 1386,68 |
| Profit before Tax | 1952,89 | 1410,85 | 1418,21 | 5497,31 |
| Provision for Tax | 591,01 | 253,58 | 250,34 | 956,23 |
| Net Profit | 1361,88 | 1157,27 | 1167,87 | 4541,08 |
Capital Employed
| Particulars | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 31.03.2014 Audited | Quarter Ended 31.03.2014 Audited | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|
| Treasury Operations | 8540,02 | 7807,94 | 8884,36 | 7807,94 |
| Wholesale Banking | 10170,74 | 10291,53 | 8942,34 | 10291,53 |
| Retail Banking | 4844,68 | 4559,29 | 4401,65 | 4559,29 |
| Banking & Other Operations | 13436,01 | 12937,31 | 11257,75 | 12937,31 |
| Unallocated | 418,96 | 389,61 | 347,77 | 389,61 |
| Total Capital Employed | 37410,41 | 35985,68 | 33833,87 | 35985,68 |
Part- B : Geographic Segments
| Particulars | Quarter Ended 30.06.2014 Reviewed | Quarter Ended 31.03.2014 Audited | Quarter Ended 31.03.2014 Audited | Year Ended 31.03.2014 Audited |
|---|---|---|---|---|
| Revenue | ||||
| Domestic | 10246,52 | 10294,20 | 9551,01 | 38421,82 |
| International | 1435,98 | 1320,65 | 1166,48 | 4980,63 |
| Total | 11682,50 | 11614,85 | 10717,49 | 43402,45 |
| Assets | ||||
| Domestic | 419761,98 | 427952,61 | 370411,22 | 427952,61 |
| International | 226727,59 | 231551,92 | 175516,76 | 231551,92 |
| Total | 646489,57 | 659504,53 | 545927,98 | 659504,53 |
Notes on Segment Reporting
- As per guidelines of RBI on compliance with Accounting Standards, The Bank has adopted "Treasury Operations", Wholesale, Retail and " Banking & Other Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
- Segment revenue represents revenue from external customers.
- In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
- Capital employed for each segment has been allocated proportionate to the assets of the segment.
- Results, Revenue and Capital Employed of International Operations is included in Banking and other operations.
| B B Joshi Executive Director |
Ranjan Dhawan Executive Director |
P Srinivas Executive Director |
S S Mundra Chairman & Managing Director |
Place : Mumbai
Date : 28.07.2014
Audited Financial Results for the Quarter /Year ended 31st March, 2014
| Sr. No. | Particulars | Quarter Ended (Standalone) 31.03.2014 Audited | Quarter Ended (Standalone) 31.12.2013 Reviewed | Quarter Ended (Standalone) 31.03.2013 Audited | Year Ended (Standalone) 31.03.2014 Audited | Year Ended (Standalone) 31.03.2013 Audited | Year Ended (Consolidated) 31.03.2014 Audited | Year Ended (Consolidated) 31.03.2013 Audited | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Interest earned (a)+(b)+(c)+(d) | 10288,59 | 9690,73 | 9071,57 | 38939,71 | 35196,65 | 40462,90 | 36442,06 | |
| (a) | Interest /discount on advances/bills | 7316,18 | 7061,01 | 6516,36 | 27878,09 | 25867,05 | 28656,55 | 26611,35 | |
| (b) | Income on investments | 2199,96 | 2175,05 | 1984,10 | 8695,99 | 7483,39 | 9293,97 | 7887,88 | |
| (c) | Interest on balances with Reserve Bank of India and other inter bank funds | 495,50 | 245,22 | 413,13 | 1533,86 | 1443,02 | 1671,25 | 1538,39 | |
| (d) | Others | 276,95 | 209,45 | 157,98 | 831,77 | 403,19 | 841,13 | 404,44 | |
| 2 | Other Income | 1326,26 | 932,07 | 1190,93 | 4462,74 | 3630,63 | 5555,15 | 4510,62 | |
| 3 | Total Income (1 + 2) | 11614,85 | 10622,80 | 10262,50 | 43402,45 | 38827,28 | 46018,05 | 40952,68 | |
| 4 | Interest Expended | 7164,27 | 6633,59 | 6257,58 | 26974,36 | 23881,39 | 27604,43 | 24486,41 | |
| 5 | Operating Expenses (a) + (b) | 1871,03 | 1791,74 | 1822,88 | 7074,87 | 5872,11 | 7530,09 | 6231,73 | |
| (a) | Employees cost | 1039,89 | 1055,71 | 1139,30 | 4139,73 | 3449,65 | 4334,61 | 3615,95 | |
| (b) | Other operating expenses | 831,14 | 736,03 | 683,58 | 2935,14 | 2422,46 | 3195,48 | 2615,78 | |
| 6 | Total Expenditure (4+5) excluding provisions and contingencies | 9035,30 | 8425,33 | 8080,46 | 34049,23 | 29753,50 | 35134,52 | 30718,14 | |
| 7 | Operating Profit before Provisions and Contingencies (3-6) | 2579,55 | 2197,47 | 2182,04 | 9353,22 | 9073,78 | 10883,53 | 10234,54 | |
| 8 | Provisions (other than tax) and Contingencies | 1153,15 | 761,87 | 1598,40 | 3793,71 | 4167,92 | 4824,94 | 4965,29 | |
| 9 | Exceptional Items (Refer Note no. 5) | 15,55 | 15,55 | 37,31 | 62,20 | 74,63 | 62,20 | 74,63 | |
| 10 | Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) | 1410,85 | 1420,05 | 546,33 | 5497,31 | 4831,23 | 5996,39 | 5194,62 | |
| 11 | Tax expenses | 253,58 | 372,21 | (482,52) | 956,23 | 350,51 | 1065,15 | 444,14 | |
| 12 | Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) | 1157,27 | 1047,84 | 1028,85 | 4541,08 | 4480,72 | 4931,24 | 4750,48 | |
| Less: Minority Interest | NA | NA | NA | NA | NA | 35,68 | 24,79 | ||
| Add: Share of earnings in Associates | NA | NA | NA | NA | NA | 105,17 | 78,54 | ||
| 13 | Extraordinary items (net of tax expenses) | - | - | - | - | - | - | - | |
| 14 | Net Profit (+) / Loss (-) for the period (12-13) | 1157,27 | 1047,84 | 1028,85 | 4541,08 | 4480,72 | 5000,73 | 4804,23 | |
| 15 | Paid-up equity share capital (Face Value of Rs.10 each) | 430,68 | 422,52 | 422,52 | 430,68 | 422,52 | 430,68 | 422,52 | |
| 16 | Reserve excluding Revaluation Reserve | 34502,39 | 30442,66 | 36349,21 | 31741,89 | ||||
| 17 | Analytical Ratios | ||||||||
| i) | Percentage of shares held by Government of India | 56.26 | 55.41 | 55.41 | 56.26 | 55.41 | 56.26 | 55.41 | |
| ii) | Capital Adequacy Ratio (%)- Basel-II | 12.87 | 12.26 | 13.30 | 12.87 | 13.30 | 13.41 | 13.51 | |
| Capital Adequacy Ratio (%)- Basel-III | 12.28 | 12.01 | -NA- | 12.28 | -NA- | 12.71 | NA | ||
| iii) | Earnings Per Share | ||||||||
| Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] | 27.05 | 24.87 | 24.99 | 107.38 | 108.84 | 118.25 | 116.70 | ||
| iv) | NPA Ratios | ||||||||
| (a) | Gross NPA | 11875,90 | 11925,76 | 7982,58 | 11875,90 | 7982,58 | |||
| Net NPA | 6034,76 | 6623,60 | 4192,02 | 6034,76 | 4192,02 | ||||
| (b) | % of Gross NPA | 2.94 | 3.32 | 2.40 | 2.94 | 2.40 | |||
| % of Net NPA | 1.52 | 1.88 | 1.28 | 1.52 | 1.28 | ||||
| v) | Return on Assets (annualized) % | 0.74 | 0.73 | 0.79 | 0.75 | 0.90 | |||
| 18 | Public Shareholding | ||||||||
| - | No. of shares | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | 18,78,43,804 | |||
| - | Percentage of shareholding | 43.74 | 44.59 | 44.59 | 43.74 | 44.59 | |||
| 19 | Promoters and promoter group Shareholding | 24,15,71,283 | 23,34,12,499 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | |||
| (a) | Pledged/Encumbered | ||||||||
| - | Number of shares | -- | -- | -- | -- | -- | |||
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | -- | -- | -- | -- | -- | |||
| - | Percentage of share (as a % of the total share capital of the bank) | -- | -- | -- | -- | -- | |||
| (b) | Non-encumbered | ||||||||
| - | Number of shares | 24,15,71,283 | 23,34,12,499 | 23,34,12,499 | 24,15,71,283 | 23,34,12,499 | |||
| - | Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
| - | Percentage of share (as a % of the total share capital of the bank) | 56.26 | 55.41 | 55.41 | 56.26 | 55.41 |
Notes forming part of the Audited financial results for the Quarter / Year ended 31st March, 2014
- The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 12th May 2014 and approved by the Board of Directors in their meeting held on 13th May 2014. The same have been subjected to audit by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
- The above results for the quarter/ year ended 31st March, 2014 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2013 except regarding sale of financial Assets to Securitisation companies /Reconstruction companies as per RBI guidelines.
- The figures for the quarter ended 31st March, 2014 and the corresponding quarter ended in the previous year as reported in these financial results are the balancing figure between audited figures in respect of the full financial year and the reviewed year to date figures upto the end of the third quarter of the relevant financial year.
- In accordance with RBI circular DBOD.No.BP.BC.80/21.04.018/2010-11 dated 9th February, 2011, out of the additional pension fund liability as on 31st March, 2011 of Rs.1829.90 crores towards serving employees who exercised option for pension, a proportionate sum of Rs.91.50 crores has been charged to the Profit and Loss Account during the quarter ended 31st March 2014. The unamortized pension fund liability of Rs.365.98 crores will be charged proportionately in accordance with the directions contained in the said circular
- The Bank had taken over specified Assets & Liabilities of The Memon Co-operative Bank Ltd on 18th April, 2011 as per approval granted by RBI vide letter no. UBD.CO.MEROER No. 7814/09.16.901/2010.11 dated 4th March, 2011. Out of the deficit of Rs.186.58 crores on account of the said take over, the Bank has charged Rs.15.55 crores to the Profit and Loss Account during the quarter ended 31st March, 2014 as approved by RBI vide letter DBOD.No.BP.1311/21.04.048/2010-11 dated 25th July 2011. Now the deficit stands fully charged to Profit & Loss Account.
- During the year bank has allotted 81,58,784 equity shares of Rs.10/- each at a premium of Rs.664.12 per share, to Government of India as approved by the shareholders in an Extra-Ordinary General Meeting in accordance with regulation 76 (1) of SEBI (Issue of Capital & Disclosure Requirements) Regulations 2009, on preferential basis. The total amount received by the Bank on this account is Rs.550 crores.
- In terms of RBI Circular no DBOD.DP.BC.no 41/21.04.141/2013-14 dated August 23,2013 on investment portfolio of the Banks-Classification, Valuation and Provisioning,the bank has transferred SLR securities (with book value Rs.6483.81 crores) from AFS to HTM category and loss on transfer of such securities has been fully recognized during the year.
- In terms of Reserve Bank of India Circular DBOD.no.BP.BC.77/21.04.018/2013-14 dated 20th December 2013, Bank has created deferred tax liability (DTL) of Rs.818.90 Crores out of past reserves and DTL of Rs.310.01 Crores out of current year profit on special reserve u/s 36 (i) (viii) of Income Tax Act.
- The financial results for the quarter/ full year ended 31st March, 2014 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation/provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%.
- Banks are required to disclose Capital adequacy ratio under Basel-III capital regulations from the quarter ended June 30, 2013. Accordingly, comparative details for previous periods are not applicable.
- Non Performing Loan Provisioning Coverage Ratio is 65.45 % as on 31st March, 2014.
- During the year Bank has sold Non Performing financial Assets with net book value of Rs.253.64 Crores (outstanding -Provisions) to Assets reconstruction companies on cash and security receipt basis in accordance with RBI guidelines. The security receipts are treated as non SLR investments. Profit of Rs.4.26 Crores is booked during current year on sale of Non Performing financial assets.
- In terms of RBI circular DBOD.No.BP.95/21.04.048/2013-14 dated 07.02.2014 Banks were allowed to utilise 33% of floating provision held by them as on 31.03.2013) for making specific provision for non performing assets. Bank has not utilised the floating provision (Rs.850 crores available as at 31.03.2013) for making specific provision for NPAs.
- An amount of Rs.300 Crores has been provided during the year towards wage revision, due from 01.11.2012, pending negotiation with IBA. Total provision towards wage revision as at 31.03.2014 is Rs.425 Crores.
- Details of Investor's complaints for the quarter ended 31.03. 2014: Pending at Beginning - Nil; Received - 68; Disposed off - 68; Closing - Nil
- The Board of Directors has proposed a final dividend of Rs.10.50 per share i.e.105% (on face value of Rs.10/-) with the interim dividend of Rs.11.00 declared on 15.01.2014. Total dividend for the year works out to Rs.21.50 per share i.e. 215% which is subject to approval of shareholders.
- Statement of Assets & Liabilities is as under :
Capital & Liabilities
| Title | As on 31st Mar 2014 Audited | As on 31st Mar 2013 Audited |
|---|---|---|
| Capital | 430,68 | 422,52 |
| Reserves and Surplus | 35555,00 | 31546,92 |
| Deposits | 568894,39 | 473883,34 |
| Borrowings | 36812,97 | 26579,28 |
| Other Liabilities and Provisions | 17811,49 | 14703,38 |
| Total | 659504,53 | 547135,44 |
Assets
| Title | As on 31st Mar 2014 Audited | As on 31st Mar 2013 Audited |
|---|---|---|
| Cash and Balances with Reserve Bank of India | 18629,09 | 13452,08 |
| Balances with Banks and Money at Call and Short Notice | 112248,82 | 71946,83 |
| Investments | 116112,66 | 121393,72 |
| Advances | 397005,81 | 328185,76 |
| Fixed Assets | 2734,12 | 2453,12 |
| Other Assets | 12774,03 | 9703,93 |
| Total | 659504,53 | 547135,44 |
The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Segment reporting for the Quarter / Year ended 31st March, 2014
Part A: Business Segments
Segment Revenue
| Particulars | Quarter Ended (Standalone) 31.03.2014 Audited | Quarter Ended (Standalone) 31.12.2013 Reviewed | Quarter Ended (Standalone) 31.03.2013 Audited | Year Ended (Standalone) 31.03.2014 Audited | Year Ended (Standalone) 31.03.2013 Audited | Year Ended (Consolidated) 31.03.2014 Audited | Year Ended (Consolidated) 31.03.2013 Audited |
|---|---|---|---|---|---|---|---|
| Treasury Operations | 2751,42 | 2625,42 | 2623,63 | 11121,44 | 9199,48 | 11292,37 | 9352,38 |
| Wholesale Banking | 4388,91 | 4118,51 | 3900,39 | 16339,73 | 15026,66 | 16412,79 | 15095,11 |
| Retail Banking | 3057,77 | 2653,99 | 2479,63 | 10863,36 | 9604,56 | 11178,52 | 9887,97 |
| Banking & Other Operations | 1416,75 | 1224,88 | 1258,85 | 5077,92 | 4996,58 | 7134,37 | 6617,22 |
| Total Revenue | 11614,85 | 10622,80 | 10262,50 | 43402,45 | 38827,28 | 46018,05 | 40952,68 |
Segment Results
| Particulars | Quarter Ended (Standalone) 31.03.2014 Audited | Quarter Ended (Standalone) 31.12.2013 Reviewed | Quarter Ended (Standalone) 31.03.2013 Audited | Year Ended (Standalone) 31.03.2014 Audited | Year Ended (Standalone) 31.03.2013 Audited | Year Ended (Consolidated) 31.03.2014 Audited | Year Ended (Consolidated) 31.03.2013 Audited |
|---|---|---|---|---|---|---|---|
| Treasury Operations | 150,91 | 459,91 | 361,86 | 1527,24 | 1070,13 | 1572,67 | 1119,50 |
| Wholesale Banking | (478,12) | (56,49) | (511,65) | (461,11) | (103,95) | (441,42) | (92,52) |
| Retail Banking | 1347,49 | 904,99 | 1002,75 | 3359,84 | 3085,71 | 3445,31 | 3144,72 |
| Banking & Other Operations | 681,76 | 409,57 | 42,38 | 2458,02 | 2221,71 | 2905,64 | 2545,30 |
| Total | 1702,04 | 1717,98 | 895,34 | 6883,99 | 6273,60 | 7482,20 | 6717,00 |
| Unallocated Expenditure | 291,19 | 297,93 | 349,01 | 1386,68 | 1442,37 | 1416,32 | 1468,63 |
| Profit before Tax | 1410,85 | 1420,05 | 546,33 | 5497,31 | 4831,23 | 6065,88 | 5248,37 |
| Provision for Tax | 253,58 | 372,21 | (482,52) | 956,23 | 350,51 | 1065,15 | 444,14 |
| Net Profit | 1157,27 | 1047,84 | 1028,85 | 4541,08 | 4480,72 | 5000,73 | 4804,23 |
Capital Employed
| Particulars | Quarter Ended (Standalone) 31.03.2014 Audited | Quarter Ended (Standalone) 31.12.2013 Reviewed | Quarter Ended (Standalone) 31.03.2013 Audited | Year Ended (Standalone) 31.03.2014 Audited | Year Ended (Standalone) 31.03.2013 Audited | Year Ended (Consolidated) 31.03.2014 Audited | Year Ended (Consolidated) 31.03.2013 Audited |
|---|---|---|---|---|---|---|---|
| Treasury Operations | 7807,94 | 8575,39 | 8526,91 | 7807,94 | 8526,91 | 8149,37 | 8794,21 |
| Wholesale Banking | 10291,53 | 9720,94 | 8927,57 | 10291,53 | 8927,57 | 10609,00 | 9132,71 |
| Retail Banking | 4559,29 | 4706,26 | 4278,82 | 4559,29 | 4278,82 | 4797,17 | 4468,65 |
| Banking & Other Operations | 12937,31 | 12273,57 | 9923,42 | 12937,31 | 9923,42 | 13890,53 | 10566,99 |
| Unallocated | 389,61 | 378,01 | 312,72 | 389,61 | 312,72 | 400,75 | 319,21 |
| Total Capital Employed | 35985,68 | 35654,17 | 31969,44 | 35985,68 | 31969,44 | 37846,82 | 33281,77 |
Part- B : Geographic Segments
| Particulars | Quarter Ended (Standalone) 31.03.2014 Audited | Quarter Ended (Standalone) 31.12.2013 Reviewed | Quarter Ended (Standalone) 31.03.2013 Audited | Year Ended (Standalone) 31.03.2014 Audited | Year Ended (Standalone) 31.03.2013 Audited | Year Ended (Consolidated) 31.03.2014 Audited | Year Ended (Consolidated) 31.03.2013 Audited |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Domestic | 10294,20 | 9397,85 | 9045,22 | 38421,82 | 33876,70 | 40106,46 | 35196,20 |
| International | 1320,65 | 1224,95 | 1217,28 | 4980,63 | 4950,58 | 5911,59 | 5756,48 |
| Total | 11614,85 | 10622,80 | 10262,50 | 43402,45 | 38827,28 | 46018,05 | 40952,68 |
| Assets | |||||||
| Domestic | 427952,61 | 391369,73 | 381404,32 | 427952,61 | 381404,32 | 435162,42 | 386487,80 |
| International | 231551,92 | 195998,70 | 165731,12 | 231551,92 | 165731,12 | 240951,69 | 172900,53 |
| Total | 659504,53 | 587368,43 | 547135,44 | 659504,53 | 547135,44 | 676114,11 | 559388,33 |
Notes on Segment Reporting
- As per guidelines of RBI on compliance with Accounting Standards, The Bank has adopted "Treasury Operations", Wholesale, Retail and " Banking & Other Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
- Segment revenue represents revenue from external customers.
- In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
- Capital employed for each segment has been allocated proportionate to the assets of the segment.
- Results, Revenue and Capital Employed of International Operations is included in Banking and other operations.
| B B Joshi Executive Director |
P Srinivas Executive Director |
S S Mundra Chairman & Managing Director |
Place : Mumbai
Date : 13.05.2014
