Axis Bank Regs Regulatory News (AXB)

12 Jan 2007 11:21

UTI Bank Limited12 January 2007 BOARD MEETING OF UTI BANK TO CONSIDER UNAUDITED QUARTERLY FINANCIAL RESULTS FOR THE QUARTER (Q3) ENDED 31st DECEMBER, 2006 We enclose herewith a copy of the UNAUDITED QUARTERLY FINANCIAL RESULTS FOR THEQUARTER (Q3) ENDED 31st DECEMBER, 2006 of the Bank. The said results are taken on record by the Board of Directors of the Bank atits meeting held today at Mumbai. UTI Bank Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380 006. UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST DECEMBER, 2006 (Rs. in crores) FOR THE FOR THE FOR THE FOR THE FOR THE YEAR QUARTER QUARTER NINE MONTHS NINE MONTHS ENDED PARTICULARS ENDED ENDED ENDED ENDED 31.12.2006 31.12.2005 31.12.2006 31.12.2005 31.03.2006 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Interest earned (a)+(b)+ 1,189.62 746.70 3,193.63 2,056.14 2,888.79 (c)+(d)(a) Interest/discount on 705.30 393.19 1,866.64 1,068.40 1,528.04 advances/bills(b) Income on Investments 457.28 335.84 1,249.31 941.24 1,285.68(c) Interest on balances with Reserve Bank of India and other inter-bank funds 13.51 11.10 42.59 28.19 41.64(d) Others 13.53 6.57 35.09 18.31 33.43 2. Other Income 279.74 173.42 709.01 501.56 729.63A. TOTAL INCOME (1+2) 1,469.36 920.12 3,902.64 2,557.70 3,618.42 3. Interest Expended 773.78 459.26 2,090.78 1,290.77 1,810.56 4. Operating expenses (e)+(f) 336.95 204.66 871.56 571.17 814.05(e) Payments to and provisions 114.66 62.23 292.42 177.73 240.20 for employees(f) Other operating expenses 222.29 142.43 579.14 393.44 573.85B. TOTAL EXPENDITURE (3)+(4) (Excluding Provisions and Contingencies) 1,110.73 663.92 2,962.34 1,861.94 2,624.61C. OPERATING PROFIT (A-B) (Profit before Provisions and Contingencies) 358.63 256.20 940.30 695.76 993.81D. Other Provisions and 76.28 59.20 259.85 194.36 262.52 Contingencies (Net) - of which provisions for Non-performing assets 30.27 9.22 65.44 105.70 127.06E. Provision for Taxes 97.74 65.29 233.31 168.05 246.21F. Net Profit (C-D-E) 184.61 131.71 447.14 333.35 485.08 5. Paid-up equity share 281.19 278.57 281.19 278.57 278.69 capital 6. Reserves excluding 2,593.50 revaluation reserves (as per balance sheet of previous accounting year) 7. Analytical Ratios(i) Percentage of Shares held by Government of India NIL NIL NIL NIL NIL(ii) Capital Adequacy 11.83% 11.58% 11.83% 11.58% 11.08% Ratio(iii) Earnings per Share for the period / year - Basic 6.59 4.74 15.96 12.00 17.45 - Diluted 6.42 4.65 15.56 11.78 17.08(iv) (a) Amount of Gross 472.25 431.84 472.25 431.84 377.95 Non-performing assets (b) Amount of Net Non-performing 266.93 248.46 266.93 248.46 219.83 assets (c) % of Gross NPAs 1.20 1.63 1.20 1.63 1.28 (d) % of Net NPAs 0.68 0.95 0.68 0.95 0.75 (e) Return on Assets 1.17 1.24 1.04 1.13 1.18 (annualized) 8. Aggregate public shareholding - Number of shares 147,627,347 133,234,081 147,627,347 133,234,081 138,042,433 - Percentage of shareholding 52.50% 47.83% 52.50% 47.83% 49.53% Notes : 1. The results above have been taken on record by the Board of Directorsof the Bank at its meeting held at Mumbai today. 2. 'Other income' includes gains from securities' transactions, commissionearned from guarantees/letters of credit, fees earned from providing services tocustomers, selling of third party products and ATM sharing fees. 3. Pursuant to the change in provisioning requirements for certain classesof standard assets from 0.40% to 1.00% in a phased manner as notified by RBIthrough its circular dated 12th July 2006, the Bank has stepped up thisprovision to 1.00% during the current quarter. As a result there has been animpact of an additional provision of Rs. 38.58 crores during the nine monthsended 31st December, 2006. 4. Disclosure about investor complaints: Complaints at the Received during the quarter Disposed off during the Unresolved as on beginning of the quarter 31.12.2006 quarter 2 66 67 1* * Resolved in the first week of January, 2007 5. These results for the nine months ended 31st December 2006, have beensubjected to a "Limited Review" by the Statutory Auditors of the Bank. 6. Previous period figures have been regrouped and reclassified, wherenecessary, to make them comparable with current quarter figures. UTI BANK The business of the bank has been divided into two segments as follows :- SEGMENT PRINCIPAL ACTIVITIES Treasury Treasury operations include investments in sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading and foreign exchange operations on the proprietary account and for customers and central funding. Other Other Banking Operations inlcude corporate relationships, corporate advisory services, Banking placements and syndication, management of public issue, project appraisals, depository and Operations capital market related services, cash management services, retail assets and liability products, card services, internet banking, ATM services, financial advisory services and NRI services. Segmental Results (Rs in crores) For the For the For the For the For the year quarter quarter nine months nine months ended ended ended ended ended 31-03-06 31-12-2006 31-12-2005 31-12-2006 31-12-2005 1 Segment Revenue A Treasury 2356.38 1437.65 6211.00 3989.93 5628.19 B Other Banking 1386.87 791.41 3626.37 2179.29 3122.17 Operations C Others 0.03 0.28 -0.99 0.76 1.19 Total 3743.28 2229.34 9836.38 6169.98 8751.55 Less Inter segment 2273.92 1309.22 5933.74 3612.28 5133.13 revenue Income from Operations 1469.36 920.12 3902.64 2557.70 3618.42 2 Segment Results After Provisions & Before Tax a Treasury 121.07 118.73 224.94 312.96 415.54 b Other Banking 161.25 77.93 456.50 187.68 314.70 Operations c Others 0.03 0.34 -0.99 0.76 1.05 Total Profit Before 282.35 197.00 680.45 501.40 731.29 Tax 3 Capital Employed a Treasury 1630.08 1492.08 1630.08 1492.08 1573.50 b Other Banking 1559.34 1240.41 1559.34 1240.41 1205.36 Operations c Others 132.25 97.68 132.25 97.68 93.33 Total 3321.67 2830.17 3321.67 2830.17 2872.19 Notes: 1. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures. Place : Mumbai P.J. NAYAK Date : 12.01.2007 CHAIRMAN & MANAGING DIRECTOR www.utibank.com This information is provided by RNS The company news service from the London Stock Exchange