Federal Bk S Regulatory News (FEDS)

27 Jul 2007 07:00

Federal Bank Ltd (The)27 July 2007 THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA UNAUDITED (PROVISIONAL) FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30 JUNE 2007 (Rs. Crore)PARTICULARS Quarter ended Year ended 30 June 2007 30 June 2006 31 March 2007 (Audited)1. Interest Earned (a)+(b)+(c)+(d) 559.22 408.27 1817.35 (a) Interest/discount on advances/bills 404.58 278.64 1281.45 (b) Income on investments 137.42 115.11 482.49 (c) Interest on balances with RBI and other 11.81 13.69 43.81inter bank funds (d) Others 5.41 0.83 9.602. Other Income 100.48 54.25 286.69A. TOTAL INCOME (1+2) 659.70 462.52 2104.043. Interest Expended 366.46 249.66 1084.964. Operating Expenses (e)+(f) 104.81 99.13 406.10 (e) Payments to and provisions for 63.12 64.91 260.45employees (f) Other operating expenses 41.69 34.22 145.65B. TOTAL EXPENDITURE (3)+(4) (excluding 471.27 348.79 1491.06Provisions and Contingencies)C. OPERATING PROFIT (A-B) (Profit before 188.43 113.73 612.98Provisions and Contingencies)D. Other Provisions and Contingencies 66.99 55.92 214.75 (of which provision for NPAs) (39.97) (24.51) (89.29)E. Provision for Taxes 54.50 17.63 105.50 (including Fringe Benefit Tax)F. Net Profit/(Loss) (C-D-E) 66.94 40.18 292.735. Paid-up Equity Share Capital 85.60 85.60 85.606. Reserves excluding revaluation reserve (asper Balance Sheet of the previous accountingyear) 1409.977. Analytical Ratios (i) Percentage of shares held by Government Nil Nil NILof India (ii) Capital Adequacy Ratio (%) 13.32 13.04 13.43 (iii) Earnings per Share -Basic (Rs.) *7.82 *4.69 34.20 (iv) (a) Amount of Gross Non-performing Assets 440.84 549.20 450.80 (b) Amount of Net Non-performing Assets 54.17 91.15 65.05 (c) % of Gross NPAs 2.92% 4.44 2.95 (d) % of Net NPAs 0.37% 0.76 0.448. Aggregate of Non-Promoter Shareholding:- Number of Shares 856.03 lakh 856.03 lakh 856.03 lakh- Percentage of Shareholding 100 100 100 * Not annualised Notes 1. As a prudent policy, the Bank holds provisions for NPAs and standardassets over and above the minimum required under the RBI norms. The saidprovisions have not been utilised for provision required for the above period. 2. Provisions for standard assets, non-performing assets and also forgratuity, pension, bonus, income-tax including deferred tax & fringe benefit taxand other usual and necessary items have been made on estimated basis. 3. Reconciliation/adjustment of outstanding entries in Inter branch/Officetransactions is in progress. In the opinion of the Bank, consequential effect ofthe same on the revenue/assets/liabilities is not likely to be material. 4. Out of the provision of Rs.19.32 crore made as on 31 March 2007 towardsfall in market value of the security based on the price of 3 April 2007, theBank still holds a provision of Rs.10.55 crore. 5. The results for the quarter ended 30 June 2007 include the figures ofthe erstwhile The Ganesh Bank of Kurundwad Ltd which was amalgamated with theBank with effect from 2 September 2006. 6. The Bank had no investor complaints pending as on 31 March 2007. Allthe 24 complaints received during the quarter were disposed of and there are nopending complaints as on 30 June 2007. 7. Details of Customer complaints are given below. No. of complaints pending at the beginning of the quarter 10a.b. No. of complaints received during the quarter 41c. No. of complaints redressed during the quarter 33d. No. of complaints pending at the end of the quarter 18 8. Details of awards passed by the Banking Ombudsman are given below. a. No. of unimplemented Awards at the beginning of the quarter 1 (under appeal)b. No. of Awards passed during the quarter 1c. No. of Awards implemented during the quarter 1d. No. of unimplemented Awards at the end of the quarter 1 (under appeal) 9. The above financial results, subjected to limited review by statutorycentral auditors, have been taken on record by the Board of Directors at itsmeeting held on 26 July 2007. Segment Information Information is provided below on the Bank's operations, classified into twobusiness segments, viz, Treasury Operations (investment and trading insecurities, shares, debentures, etc) and Banking Operations (other thanTreasury). (Rs. crore) Quarter ended Year ended 30 June 2007 30 June 2006 31 March 2007 (Audited)Segment Revenue: Treasury operations 146.98 123.46 523.98 Banking operations (other than Treasury) 512.72 339.06 1580.06 Total 659.70 462.52 2104.04Segment Results: Treasury operations 0.67 -22.24 -0.97 Banking operations (other than Treasury) 120.77 80.05 399.20 Total Profit before Tax 121.44 57.81 398.23Capital employed: Treasury operations 185.13 171.00 158.71 Banking operations (other than Treasury) 1384.02 1119.16 1343.50 Total 1569.15 1290.16 1502.21 The Bank has only the Domestic geographic segment. Residual operations, beingof insignificant volume, have not been considered as a separate reportablesegment, but included in Banking Operations. Kochi M. VENUGOPALAN26 July 2007 CHAIRMAN This information is provided by RNS The company news service from the London Stock Exchange