1st Quarter Results

12 Jul 2007 13:59

UTI Bank Limited12 July 2007 BOARD MEETING OF UTI BANK TO CONSIDER UNAUDITED QUARTERLY RESULTS FOR THE QUARTER (Q1) ENDED 30TH JUNE, 2007 Pursuant to the provisions of clause 41 of the Listing Agreement, we encloseherewith a copy of the UNAUDITED QUARTERLY FINANCIAL RESULTS OF UTI BANK FOR THEQUARTER (Q1) ENDED 30TH JUNE, 2007 in the prescribed format. The said results are taken on record by the Board of Directors of the Bank atits meeting held today at Mumbai. We have already made necessary arrangementsfor publication of the said results in the Newspapers. UTI Bank Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380 006. UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2007 (Rs. in crores) FOR THE QUARTER FOR THE QUARTER FOR THE YEAR ENDED PARTICULARS ENDED ENDED 31.03.2007 30.06.2007 30.06.2006 (Unaudited) (Unaudited) (Audited) 1. Interest earned (a)+(b)+(c)+(d) 1,536.97 953.92 4,560.40(a) Interest/discount on advances/bills 1,012.41 550.34 2,702.85(b) Income on Investments 491.92 375.54 1,731.47(c) Interest on balances with Reserve Bank ofIndia and other inter-bank funds 19.36 16.44 77.30(d) Others 13.28 11.60 48.782. Other Income 342.32 200.48 911.36A. TOTAL INCOME (1+2) 1,879.29 1,154.40 5,471.763. Interest Expended 1,090.14 632.08 2,993.324. Operating expenses (e)+(f) 421.21 239.16 1,214.59(e) Payments to and provisions for employees 147.90 79.69 381.35(f) Other operating expenses 273.31 159.47 833.24B. TOTAL EXPENDITURE (3)+(4) (ExcludingProvisions and Contingencies) 1,511.35 871.24 4,207.91C. OPERATING PROFIT (A-B) (Profit beforeProvisions and Contingencies) 367.94 283.16 1,263.85D. Other Provisions and Contingencies (Net) 100.91 100.79 267.61- of which provisions for Non-performing assets 49.61 13.78 73.73E. Provision for Taxes 92.05 61.82 337.21F. Net Profit (C-D-E) 174.98 120.55 659.035. Paid-up equity share capital 282.65 280.13 281.636. Reserves excluding revaluation reserves 3,111.60 (as per balance sheet of previous accountingyear)7. Analytical Ratios (i) Percentage of Shares held byGovernment of India NIL NIL NIL (ii) Capital Adequacy Ratio 11.50% 10.28% 11.57% (iii) Earnings per Share for the period/ year 6.20 4.31 23.50- Basic 6.00 4.22 22.79- Diluted (iv) (a) Amount of Gross Non-performing 483.13 404.38 418.67assets (b) Amount of Net Non-performing assets 281.21 232.79 266.33 (c) % of Gross NPAs 1.01 1.25 0.95 (d) % of Net NPAs 0.59 0.73 0.61 (e) Return on Assets (annualized) 0.94 0.93 1.108. Aggregate public shareholding - Number of shares 151,152,504 143,792,939 148,241,566- Percentage of shareholding 53.48% 51.33% 52.64% Notes : 1. The results above have been taken on record by the Board of Directors of the Bank at its meeting held at Mumbai today. 2. 'Other income' includes gains from securities' transactions (net of premium amortised on HTM securities), commission earned from guarantees/letters of credit, fees earned from providing services to customers, selling of third party products and ATM sharing fees. 3. Pursuant to the approval of the shareholders at the Extra-Ordinary General Meeting on 25th June 2007, the Bank has increased its authorized share capital from Rs. 300 crores to Rs. 500 crores. 4. Disclosure about investor complaints: Complaints at the Received during the quarter Disposed off during the Unresolved as on beginning of the quarter 30.06.2007 quarter - 98 98 - 5. These results for the quarter ended 30th June 2007, have been subjected to a "Limited Review" by the Statutory Auditors of the Bank. 6. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures. Place : Mumbai P.J. NAYAK Date : 12.07.2007 CHAIRMAN & MANAGING DIRECTOR www.utibank.com UTI BANK Segmental Results (Rs in crores) For the For the For the year ended quarter ended quarter ended 31-03-07 30-06-2007 30-06-2006 1 Segment Revenue a. Treasury 2,943.18 1,833.13 8,780.50 b. Corporate/Wholesale Banking 1,109.94 1,074.31 5,308.26 c. Retail Banking 797.89 d. Other Banking Business 0.16 Total 4,851.17 2,907.44 14,088.76 Less Inter segment revenue 2,971.88 1,753.04 8,617.00 Income from Operations 1,879.29 1,154.40 5,471.76 2 Segment Results After Provisions & Before Tax a. Treasury (20.90) 9.46 226.46 b. Corporate/Wholesale Banking 271.10 172.91 769.78 c. Retail Banking 16.67 d. Other Banking Business 0.16 Total Profit Before Tax 267.03 182.37 996.24 3 Capital Employed a. Treasury (5,804.88) 1,493.27 (2,734.81) b. Corporate/Wholesale Banking 15,581.83 1,504.58 6,128.04 c. Retail Banking (7,153.95) d. Other Banking Business 966.45 Total 3,589.45 2,997.85 3,393.23 Notes: 1. Effective 1st April 2007, the Bank has adopted RBI's revised guidelines issued in April 2007 on segment reporting in terms of which the reportable segments have been changed to Treasury, Corporate / Wholesale Banking, Retail Banking and Other Banking Business. 2. Segmental disclosures relating to the corresponding previous-year period and for the year ended 31st March, 2007, have been disclosed based on reportable segments then in force and are hence not comparable with the figures for the current quarter. This information is provided by RNS The company news service from the London Stock Exchange