Financial Report 2013-14

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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

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