Financial Report 2009-10

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Unaudited Financial Results for the Quarter / Nine Months ended 31st December 2010

Sr. No. Particulars Quarter Ended 31.12.2010 Reviewed Quarter Ended 31.12.2009 Reviewed Nine Months Ended 31.12.2010 Reviewed Nine Months Ended 31.12.2009 Reviewed Year Ended 31.03.2010 Audited
1 Interest earned (a)+(b)+(c)+(d) 566615 417697 1555177 1234450 1669834
(a) Interest/disc.on advances/bills 421220 315715 1161624 929509 1254122
(b) Income on investments 127740 91317 345638 273093 365588
(c) Interest on balances with Reserve Bank of India and other inter bank funds 11463 7662 34119 24962 35505
(d) Others 6192 3003 13796 6886 14619
2 Other Income 67615 65965 197469 195802 272491
3 Total Income (1 + 2) 634230 483662 1752646 1430252 1942325
4 Interest Expended 337389 257574 936338 814997 1075886
5 Operating Expenses (a) + (b) 111721 99593 312727 284607 381058
(a) Employees cost 69418 62917 192707 181909 235088
(b) Other operating expenses 42303 36676 120020 102698 145970
6 Total Expenditure (4+5) excluding provisions and contingencies 449110 357167 1249065 1099604 1456944
7 Operating Profit before Provisions and Contigencies (3-6) 185120 126495 503581 330648 485381
8 Provisions (other than tax) and Contingencies 30406 24249 74088 31987 69720
9 Exceptional Items - - - - 8145
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 154714 102246 429493 298661 423806
11 Tax expenses 47826 18997 134759 83456 117973
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 106888 83249 294734 215205 305833
13 Extraordinary items (net of tax expenses) - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 106888 83249 294734 215205 305833
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1341961 1102166 1341961 1102166 1341961
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 11.68 14.30 11.68 14.30 12.84
As per Basel-II 12.45 14.65 12.45 14.65 14.36
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 29.34 22.85 80.91 59.08 83.96
iv) NPA Ratios
a) Gross NPA 277025 226027 277025 226027 240069
Net NPA 74424 48768 74424 48768 60232
b) % of Gross NPA 1.32 1.43 1.32 1.43 1.36
% of Net NPA 0.36 0.31 0.36 0.31 0.34
v) Return on Assets (annualized) % 1.34 1.36 1.30 1.20 1.21
18 Public Shareholding
- No. of shares 168266500 168266500 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding 196000000 196000000 196000000 196000000 196000000
(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 company) -- -- -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000 196000000 196000000
- 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 company) 53.81 53.81 53.81 53.81 53.81

Notes forming part of the Unaudited financial results for the Quarter/ Nine Months ended 31st December, 2010

  • The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 28th January, 2011. The same have been subjected to a limited review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by the Reserve Bank of India and as per the requirements of the Listing Agreements with the Stock Exchanges.
  • There is no change in the Accounting Policies during the quarter/Nine months ended 31st December, 2010 as compared to the policies adopted in the immediately preceding financial year .
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid/ Payable, Other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • As per Accounting Standard (AS) 15 (Revised) "Employee Benefits" issued by the Institute of Chartered Accountants of India and based on actuarial valuation, transitional liability as at 31st March, 2007 was calculated at Rs.901 crores out of which a proportionate sum of Rs.45.05 crores has been charged to the Profit and Loss Account during the quarter. The balance amount of Rs.225.25 crores will be charged proportionately by the end of 31st March, 2012.
  • The financial results for the Nine Months ended 31st December, 2010 have been arrived at after considering provision for Non Performing Assets, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Further, the Bank has made an additional ad-hoc provision of Rs.320.08 crores (including Rs.66.07 crores for the current quarter) in certain non-performing Domestic Advance Accounts.
    • Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis.
    • Pending issuance of guidelines by the Regulators in respect of accounting of retirement benefit liability of new pension optees, the Bank is charging the said estimated liability over a period of five years from financial year 2010–11, in line with the past accounting practice. Accordingly, the Bank has proportionately provided Rs.309.56 crores for the nine months ended (including Rs.177.57 crores for the current quarter) 31st December, 2010.
  • Auditors qualification for the year ended 31st March, 2010 have been dealt with as per Note No. 3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 122
    • Disposed off during the quarter 122
    • Pending at the close of the quarter Nil
  • Statements of Assets & Liabilities is as under:-
Capital & Liabilities
Title As on 31st December 2010 Reviewed As on 31st December 2009 Unaudited
Capital 365,52,77 365,52,77
Reserves and Surplus 17635,86,75 14663,21,48
Deposits 281511,91,03 215117,05,14
Borrowings 18815,74,13 12296,97,45
Other Liabilities and Provisions 9092,73,45 7911,20,75
Total 327421,78,13 250353,97,59
Assets
Title As on 31st December 2010 Reviewed As on 31st December 2009 Unaudited
Cash and Balances with Reserve Bank of India 15423,79,35 10818,47,41
Balances with Banks and Money at Call and Short Notice 25523,19,20 19467,57,62
Investments 71837,37,43 57490,32,08
Advances 207208,77,37 156171,39,37
Fixed Assets 2268,84,60 2350,22,85
Other Assets 5159,80,18 4055,98,26
Total 327421,78,13 250353,97,59

The figures of previous period(s) have been regrouped / rearranged wherever necessary so as to make them comparable with those of the current period(s).

Segment Reporting For The Quarter / Nine Months Ended 31st December, 2010

Part A - Business Segments

Segment Revenue

Particulars Quarter Ended 31.12.10 Reviewed Quarter Ended 31.12.09 Reviewed Nine Months Ended 31.12.10 Reviewed Nine Months Ended 31.12.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 147740 110790 407384 341975 459916
Wholesale Banking 260532 183726 697168 542342 732424
Retail Banking 150306 127447 430213 352155 495691
Other Banking Operations 75652 61699 217881 193780 262439
Total Revenue 634230 483662 1752646 1430252 1950470

Segment Results

Particulars Quarter Ended 31.12.10 Reviewed Quarter Ended 31.12.09 Reviewed Nine Months Ended 31.12.10 Reviewed Nine Months Ended 31.12.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 22796 17861 71898 85986 104770
Wholesale Banking 56661 12553 132773 104677 158536
Retail Banking 48792 19401 131605 55305 77865
Other Banking Operations 90669 81422 184303 122970 178039
Total 218918 131237 520579 368938 519210
Unallocated expenditure 64204 28991 91086 70277 95404
Profit before Tax 154714 102246 429493 298661 423806
Provision for Tax 47826 18997 134759 83456 117973
Net Profit 106888 83249 294734 215205 305833

Capital Employed

Particulars Quarter Ended 31.12.10 Reviewed Quarter Ended 31.12.09 Reviewed Nine Months Ended 31.12.10 Reviewed Nine Months Ended 31.12.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 460616 389116 460616 389116 377089
Wholesale Banking 557430 444262 557430 444262 473105
Retail Banking 283239 257202 283239 257202 244292
Other Banking Operations 482658 393894 482658 393894 403346
Unallocated 16197 18400 16197 18400 12806
Total Capital Employed 1800140 1502874 1800140 1502874 1510638

Part B - Geographic Segments

Revenue

Particulars Quarter Ended 31.12.10 Reviewed Quarter Ended 31.12.09 Reviewed Nine Months Ended 31.12.10 Reviewed Nine Months Ended 31.12.09 Reviewed Year Ended 31.03.10 Audited
Domestic 560027 422375 1539855 1243757 1701416
International 74203 61287 212791 186495 249054
Total 634230 483662 1752646 1430252 1950470

Assets

Particulars Quarter Ended 31.12.10 Reviewed Quarter Ended 31.12.09 Reviewed Nine Months Ended 31.12.10 Reviewed Nine Months Ended 31.12.09 Reviewed Year Ended 31.03.10 Audited
Domestic 24471017 18934276 24471017 18934276 21032967
International 8271161 6101122 8271161 6101122 6798703
Total 32742178 25035398 32742178 25035398 27831670

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, Retail and "Other Banking 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.
Place : Mumbai
Date : 28.01.2011		 N. S. Srinath
Executive Director		 R. K. Bakshi
Executive Director		 M. D. Mallya
Chairman & Managing Director

Unaudited Financial Results for the Quarter ended 30th June 2010

Sr. No. Particulars Quarter Ended 30.09.2010 Reviewed Quarter Ended 30.09.2009 Reviewed Half Year Ended 30.09.2010 Reviewed Half Year Ended 30.09.2009 Reviewed Year Ended 31.03.2010 Audited
1 Interest earned (a)+(b)+(c)+(d) 515866 413542 988562 816753 1669834
(a) Interest/disc.on advances/bills 383828 310135 740404 613794 1254122
(b) Income on investments 115654 92753 217898 181776 365588
(c) Interest on balances with Reserve Bank of India and other inter bank funds 14692 10123 27422 19687 42215
(d) Others 1692 531 2838 1496 7909
2 Other Income 68130 59533 129854 129837 272491
3 Total Income (1 + 2) 583996 473075 1118416 946590 1942325
4 Interest Expended 312052 274682 598949 557423 1075886
5 Operating Expenses (a) + (b) 106270 95234 201006 185014 381058
(a) Employees cost 65616 59575 123289 118992 235088
(b) Other operating expenses 40654 35659 77717 66022 145970
6 Total Expenditure (4+5) excluding provisions and contingencies 418322 369916 799955 742437 1456944
7 Operating Profit before Provisions and Contigencies (3-6) 165674 103159 318461 204153 485381
8 Provisions (other than tax) and Contingencies 18549 11633 43682 7738 69720
9 Exceptional Items - - - - 8145
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 147125 91526 274779 196415 423806
11 Tax expenses 45195 28108 86933 64459 117973
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 101930 63418 187846 131956 305833
13 Extraordinary items (net of tax expenses) - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 101930 63418 187846 131956 305833
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1341961 1102166 1341961 1102166 1341961
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 12.34 13.99 12.34 13.99 12.84
As per Basel-II 13.22 14.67 13.22 14.67 14.36
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 27.98 17.41 51.57 36.23 83.96
iv) NPA Ratios
a) Gross NPA 271985 195659 271985 195659 240069
Net NPA 73129 40532 73129 40532 60232
b) % of Gross NPA 1.39 1.30 1.39 1.30 1.36
% of Net NPA 0.38 0.27 0.38 0.27 0.34
v) Return on Assets 1.34 1.07 1.27 1.13 1.21
18 Public Shareholding
- No. of shares 168266500 168266500 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding 196000000 196000000 196000000 196000000 196000000
(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 company) -- -- -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000 196000000 196000000
- 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 company) 53.81 53.81 53.81 53.81 53.81

Notes forming part of the financial results for the quarter/ half-year Ended 30th September, 2010

  • The above financial results have been approved by the Board of Directors at its meeting held on 28th October, 2010 and have been subjected to limited review by the Statutory Central Auditors, in terms of the Listing Agreements.
  • There is no change in the Accounting Policies during the quarter/half year ended 30th September, 2010 as compared to the policies adopted in the immediately preceding financial year .
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid/ Payable, Other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • The financial results for the half year ended 30th September, 2010 have been arrived at after considering provision for Non Performing Assets, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Further, the Bank has made an additional ad-hoc provision of Rs. 254.01 crs (including Rs.100.36 crs for the current quarter) in certain non-performing Domestic Advance Accounts.
  • Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis. Liability on account of pension in respect of the new pension optees will be considered on closure of the scheme.
  • As per the Revised Accounting Standard (AS) 15 on "Employee Benefits" issued by the Institute of Chartered Accountants of India and based on actuarial valuation, transitional liability as at March 31, 2007 has been arrived at Rs.901 crs out of which a proportionate sum of Rs. 45.05 crs has been charged to the Profit and Loss Account during the quarter. The balance amount of Rs. 270.30 crs will be charged proportionately by the end of 31st March 2012.
  • During the quarter, the bank has raised Innovative Prepetual Debt Instrument Bonds amounting to Rs.711.50 crs and Tier-II Bonds of Rs. 500 crs.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 108
    • Disposed off during the quarter 108
    • Pending at the close of the quarter Nil
  • The figures of previous period(s) have been regrouped / rearranged wherever necessary so as to make them comparable with those of the current period(s).

Segment Reporting For The Quarter/half Year Ended 30th September, 2010

Part A: Business Segments

Segment Revenue
Particulars Quarter Ended 30.09.10 Reviewed Quarter Ended 30.09.09 Reviewed Half Year Ended 30.09.10 Reviewed Half Year Ended 30.09.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 136611 110574 259644 231185 459916
Wholesale Banking 231266 196816 436636 358616 732424
Retail Banking 140993 102264 279907 224708 495691
Other Banking Operations 75126 63421 142229 132081 262439
Total Revenue 583996 473075 1118416 946590 1950470
Segment Results
Particulars Quarter Ended 30.09.10 Reviewed Quarter Ended 30.09.09 Reviewed Half Year Ended 30.09.10 Reviewed Half Year Ended 30.09.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 25356 20949 49102 68125 104770
Wholesale Banking 48795 55581 76112 92124 158536
Retail Banking 42092 16091 82812 35904 77865
Other Banking Operations 120846 39937 152849 88403 273242
Total 237089 132558 360875 284556 614413
Unallocated expenditure 89964 41032 86096 88141 190607
Profit before Tax 147125 91526 274779 196415 423806
Provision for Tax 45195 28108 86933 64459 117973
Net Profit 101930 63418 187846 131956 305833
Capital Employed
Particulars Quarter Ended 30.09.10 Reviewed Quarter Ended 30.09.09 Reviewed Half Year Ended 30.09.10 Reviewed Half Year Ended 30.09.09 Reviewed Year Ended 31.03.10 Audited
Capital Employed
Treasury Operations 453232 398011 453232 398011 377089
Wholesale Banking 507147 406522 507147 406522 473105
Retail Banking 265267 227581 265267 227581 244292
Other Banking Operations 453726 369965 453726 369965 403346
Unallocated 15804 17863 15804 17863 12806
Total Capital Employed 1695176 1419942 1695176 1419942 1510638

Part- B : Geographic Segments

Revenue
Particulars Quarter Ended 30.09.10 Reviewed Quarter Ended 30.09.09 Reviewed Half Year Ended 30.09.10 Reviewed Half Year Ended 30.09.09 Reviewed Year Ended 31.03.10 Audited
Domestic 509840 410218 979828 821382 1701416
International 74156 62857 138588 125208 249054
Total 583996 473075 1118416 946590 1950470
Assets
Particulars Quarter Ended 30.09.10 Reviewed Quarter Ended 30.09.09 Reviewed Half Year Ended 30.09.10 Reviewed Half Year Ended 30.09.09 Reviewed Year Ended 31.03.10 Audited
Domestic 23321248 18207633 23321248 18207633 21032967
International 7966961 5834097 7966961 5834097 6798703
Total 31288209 24041730 31288209 24041730 27831670

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, ", Retail and "Other Banking Operations" as Primary business segments and "Domestic" and "International" "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 28.10.2010		 N. S. SRINATH
Executive Director		 R. K. BAKSHI
EXECUTIVE DIRECTOR		 M D Mallya
Chairman & Managing Director

Statement Of Assets & Liabilities

Capital & Liabilities
Title As on 30th Setember 2010 Reviewed As on 30th September 2009 Unaudited
Capital 3,65,53 3,65,53
Reserves and Surplus 165,86,22 138,33,90
Deposits 2696,60,16 2073,54,78
Borrowings 182,57,24 107,15,31
Other Liabilities and Provisions 80,12,94 81,47,78
Total 3128,82,09 2404,17,30
Assets
Title As on 30th Setember 2010 Reviewed As on 30th September 2009 Unaudited
Cash and Balances with Reserve Bank of India 179,82,00 109,16,83
Balances with Banks and Money at Call and Short Notice 277,71,81 168,51,06
Investments 661,94,26 577,58,82
Advances 1929,58,56 1489,19,29
Fixed Assets 22,93,39 23,05,51
Other Assets 56,82,07 36,65,79
Total 3128,82,09 2404,17,30

Unaudited Financial Results for the Quarter ended 30th June 2010

Sr. No. Particulars Quarter Ended 30.06.2010 Reviewed Quarter Ended 30.06.2009 Reviewed Year Ended 31.03.10 Audited
1 Interest earned (a)+(b)+(c)+(d) 472696 403211 1669834
(a) Interest/disc.on advances/bills 356576 303659 1254122
(b) Income on investments 102244 89023 365588
(c) Interest on balances with Reserve Bank of India and other inter bank funds 12730 9564 42215
(d) Others 1146 965 7909
2 Other Income 61724 70304 272491
3 Total Income (1 + 2) 534420 473515 1942325
4 Interest Expended 286897 282741 1075886
5 Operating Expenses (a) + (b) 94736 89781 381058
a) Employees cost 57673 59417 235088
b) Other operating expenses 37063 30364 145970
6 Total Expenditure (4+5) excluding provisions and contingencies 381633 372522 1456944
7 Operating Profit before Provisions and Contigencies (3-6) 152787 100993 485381
8 Provisions (other than tax) and Contingencies 25133 -3896 69720
9 Exceptional Items - - 8145
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 127654 104889 423806
11 Tax expenses 41738 36351 117973
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 85916 68538 305833
13 Extraordinary items (net of tax expenses) - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 85916 68538 305833
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1341961 1102166 1341961
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 12.35 14.09 12.84
As per Basel-II 13.25 14.56 14.36
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 23.59 18.82 83.96
iv) NPA Ratios
a) Gross NPA 265742 206815 240069
Net NPA 71733 37856 60232
b) % of Gross NPA 1.41 1.44 1.36
% of Net NPA 0.39 0.27 0.34
c) Return on Assets 1.19 1.19 1.21
18 Public Shareholding
- No. of shares 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19
19 Promoters and promoter group Shareholding 196000000 196000000 196000000
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 company) -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00
- Percentage of share (as a % of the total share capital of the company) 53.81 53.81 53.81

Notes forming part of the financial results for the Quarter Ended 30.06.2010

  • The above financial results have been approved by the Board at its meeting held on 29/07/2010. The same have been subjected to limited review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 30.06.2010 as compared to those followed in the preceding financial year 2009-10.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable, other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • The financial results for the quarter ended 30.06.2010 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Further, During the quarter the bank has made an additional provision of Rs.153.65 crores in certain identified Non Performing domestic Advance accounts.
  • Provision for taxes (including Deferred tax and Wealth tax) and Provision for contingencies including for employee benefits have been considered on estimated basis. Liability on account of pension contribution of the new pension optees will be considered on crystilization there of.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c during the quarter, on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. The balance amount of Rs.315.35 crores is to be charged proportionately by the end of March 2012.
  • In terms of Agriculture debt waiver and relief Scheme 2008, framed by the Govt. of India, the bank has received Rs.329.94 crores upto 30th June 2010 from RBI against final claim of Rs.505.19 crores as certified by the Statutory Central Auditors of the Bank under Debt Waiver Scheme.
  • During the quarter, the bank has raised Upper Tier II Bonds amounting to Rs. 1000 crs.
  • Auditors qualifications for the year ended 31st March 2010 have been dealt with as per Note no.3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 116
    • Disposed off during the quarter 116
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary so as to make them comparable with those of the current period.

Segment Reporting For The Quarter Ended 30th June, 2010

Part A: Business Segments

Segment Revenue
Particulars Quarter Ended 30.06.10 Reviewed Quarter Ended 30.06.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 123033 120611 459916
Wholesale Banking 205370 161800 732424
Retail Banking 138914 122444 495691
Other Banking Operations 67103 68660 262439
Total Revenue 534420 473515 1950470
Segment Results
Particulars Quarter Ended 30.06.10 Reviewed Quarter Ended 30.06.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 23746 47176 104770
Wholesale Banking 27317 36543 158536
Retail Banking 40720 19813 77865
Other Banking Operations 32003 48466 273242
Total 123786 151998 614413
Unallocated expenditure -3868 47109 190607
Profit before Tax 127654 104889 423806
Provision for Tax 41738 36351 117973
Net Profit 85916 68538 305833
Capital Employed
Particulars Quarter Ended 30.06.10 Reviewed Quarter Ended 30.06.09 Reviewed Year Ended 31.03.10 Audited
Treasury Operations 419029 378554 377089
Wholesale Banking 487950 389021 473105
Retail Banking 242400 210064 244292
Other Banking Operations 431405 358069 403346
Unallocated 15954 15731 12806
Total Capital Employed 1596738 1351439 1510638

Part- B : Geographic Segments

Revenue
Particulars Quarter Ended 30.06.10 Reviewed Quarter Ended 30.06.09 Reviewed Year Ended 31.03.10 Audited
Domestic 469988 411164 1701416
International 64432 62351 249054
Total 534420 473515 1950470
Assets
Particulars Quarter Ended 30.06.10 Reviewed Quarter Ended 30.06.09 Reviewed Year Ended 31.03.10 Audited
Domestic 22270332 17798329 21032967
International 7515397 5626727 6798703
Total 29785729 23425056 27831670

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, ", Retail and "Other Banking Operations" as Primary business segments and "Domestic" and "International" "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 29.07.2010		 N. S. SRINATH
Executive Director		 R. K. BAKSHI
EXECUTIVE DIRECTOR		 M D Mallya
Chairman & Managing Director

Unaudited Financial Results for the Quarter / Full Year ended 31st March 2010

Sr. No. Particulars Quarter Ended 31.03.10 Audited Quarter Ended 31.03.09 Audited Year Ended 31.03.10 Audited Year Ended 31.03.09 Audited
1 Interest earned (a)+(b)+(c)+(d) 435384 413878 1669834 1509158
(a) Interest/disc.on advances/bills 324613 307621 1254122 1119736
(b) Income on investments 92495 88450 365588 331067
(c) Interest on balances with Reserve Bank of India and other inter bank funds 12328 8083 42215 40146
(d) Others 5948 9724 7909 18209
2 Other Income 76689 85363 272491 266264
3 Total Income (1 + 2) 512073 499241 1942325 1775422
4 Interest Expended 260889 266799 1075886 996817
5 Operating Expenses (a) + (b) 96451 101994 381058 357606
a) Employees cost 53179 63468 235088 234813
b) Other operating expenses 43272 38526 145970 122793
6 Total Expenditure (4+5) excluding provisions and contingencies 357340 368793 1456944 1354423
7 Operating Profit before Provisions and Contigencies (3-6) 154733 130448 485381 420999
8 Provisions (other than tax) and Contingencies 37733 20974 69720 96206
9 Exceptional Items 8145 - 8145 9501
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 125145 109474 423806 334294
11 Tax expenses 34517 34205 117973 111574
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 90628 75269 305833 222720
13 Extraordinary items (net of tax expenses) - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 90628 75269 305833 222720
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1341961 1102166 1341961 1102166
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 12.84 12.88 12.84 12.88
As per Basel-II 14.36 14.05 14.36 14.05
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 24.88 20.66 83.96 61.14
iv) NPA Ratios
a) Gross NPA 240069 184292 240069 184292
Net NPA 60232 45115 60232 45115
b) % of Gross NPA 1.36 1.27 1.36 1.27
% of Net NPA 0.34 0.31 0.34 0.31
c) Return on Assets 1.37 1.41 1.21 1.09
18 Public Shareholding
- No. of shares 168266500 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding 196000000 196000000 196000000 196000000
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 company) -- -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000 196000000
- 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 company) 53.81 53.81 53.81 53.81

Notes forming part of the financial results for the Quarter /Full Year Ended 31.03.2010

  • The above financial results have been approved by the Board at its meeting held on 28.04.2010. The same has been subjected to Audit by the Statutory Central Auditors.
  • There has been no change in the Accounting Policies adopted during the quarter/ Full Year ended 31.03.2010 as compared to those followed in the preceeding financial year 2008-09.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable, other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • The Authorised capital of the bank stands increased from Rs.1500 crs. to Rs.3000 crs. as per notification No.S.O.3123 published in the Official Gazette dated 21.11.2009.
  • The financial results for the quarter ended 31.03.2010 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms isued by RBI, provision for taxes and other necessary provisions.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c during the quarter, on proportionate basis of the Transitional liability of Rs.901crores upto 31.03.2007, at the time of first adoption of Revised Accounting Standard (AS) 15 on Employee Benefits. The balance amount of Rs.360.40 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 725 crores has been made on estimated basis upto Mar-10, of which Rs.75 crores is made during the quarter ended Mar-10 and Rs.300 crs. during the Year ended March 2010
  • As per the RBI circular DBOD.No.BP.BC.82/21.04.048/2009-10 dated 30-03-2010, the last date for payment of 75% of the overdue portion of the other farmers under Agriculture debt waiver and Debt relief scheme 2008 has been extended from 31-12-2009 to 30-06-2010 and the banks are allowed to treat such accounts as standard assets. However, as a prudent measure, bank has continued to classify such accounts amounting to Rs.205.39 crs as NPA.
  • Exceptional items Rs. 81.45 crs represents profit on sale of 6.5% holding in UTI AMC Co. Ltd & UTI Trustee Co. Pvt Ltd during the year.
  • During the year the bank has raised capital of Rs.900 crores by way Innovative Perpetual Debt Instruments and Rs.1000 crores by way of Upper Tier II Bonds. The bank has also redeemed Tier II bonds of Rs.320 crores during the year.
  • The Board has recommended a dividend of Rs.15/- per share (on facevalue of Rs.10/- per share) for the year 2009-10, subject to approval by members.
  • Auditors qualifications for the year ended 31st March 2009 have been dealt with as per Note no.3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter : NIL
    • Received during the quarter : 61
    • Disposed off during the quarter : 61
    • Pending at the close of the quarter : NIL
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

Segment Reporting For The Quarter / Full Year Ended 31st March, 2010

Part A: Business Segments

Segment Revenue
Particulars Quarter Ended 31.03.10 Audited Quarter Ended 31.03.09 Reviewed Year Ended 31.03.10 Audited Year Ended 31.03.09 Audited
Treasury Operations 117941 118779 459916 444229
Wholesale Banking 190082 134717 732424 524737
Retail Banking 143536 162978 495691 538310
Other Banking Operations 68659 82767 262439 277648
Total Revenue 520218 499241 1950470 1784924
Segment Results
Particulars Quarter Ended 31.03.10 Audited Quarter Ended 31.03.09 Reviewed Year Ended 31.03.10 Audited Year Ended 31.03.09 Audited
Treasury Operations 18784 38133 104770 101957
Wholesale Banking 53859 35950 158536 84522
Retail Banking 22560 9471 77865 140650
Other Banking Operations 77564 65907 273242 176939
Total 172767 149461 614413 504068
Unallocated expenditure 47622 39987 190607 169774
Profit before Tax 125145 109474 423806 334294
Provision for Tax 34517 34205 117973 111574
Net Profit 90628 75269 305833 222720
Capital Employed
Particulars Quarter Ended 31.03.10 Audited Quarter Ended 31.03.09 Reviewed Year Ended 31.03.10 Audited Year Ended 31.03.09 Audited
Treasury Operations 377089 347080 377089 347080
Wholesale Banking 473105 322525 473105 322525
Retail Banking 244292 280224 244292 280224
Other Banking Operations 403346 317306 403346 317306
Unallocated 12806 16419 12806 16419
Total Capital Employed 1510638 1283554 1510638 1283554

#Total revenue of "Other Banking Operations" is exclusive of inter segment revenue which is Rs.339989 lacs for the QE Dec-09 (Rs.293800 lacs for QE Dec-08).

Part- B : Geographic Segments

Revenue
Particulars Quarter Ended 31.12.09 Reviewed Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.09 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.09 Audited
Domestic 422375 433136 1243757 1112214 1546520
International 61287 69220 186495 173468 238404
Total 483662 502356 1430252 1285682 1784924
Assets
Particulars Quarter Ended 31.12.09 Reviewed Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.09 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.09 Audited
Domestic 18934276 15981096 18934276 15981096 17710626
International 6101122 4036204 6101122 4036204 5030047
Total 25035398 20017300 25035398 20017300 22740673

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, ", Retail and "Other Banking Operations" as Primary business segments and "Domestic" and "International" "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 28.04.2010		 N. S. SRINATH
Executive Director		 R. K. BAKSHI
EXECUTIVE DIRECTOR		 M D Mallya
Chairman & Managing Director

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