Federal Bk S Regulatory News (FEDS)

24 Jul 2006 07:00

Federal Bank Ltd (The)22 July 2006 THE FEDERAL BANK LTDREG. OFFICE :ALUVAPB NO 103. KERALA, INDIAPIN 683 101 PHONE DIRECT STD 0484/ 622263, FAX 622672,2622283------------------------------------------------------------------------------- SD/F24/ /2006 SECRETARIAL DEPARTMENT 21 July 2006. The London Stock Exchange,10 Paternoster Square,London, EC4M 7LS. Dear Sir, As required under the Listing Agreement entered into by us with your StockExchange, we enclose the unaudited financial results of the Bank for the periodended 30 June 2006, which was taken on record at the Bank's Board of DirectorsMeeting held today. Kindly acknowledge Thanking you, Yours faithfully, COMPANY SECRETARY THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA UNAUDITED (PROVISIONAL) FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30 JUNE 2006 (Rs. Crore)PARTICULARS Quarter ended Year ended 30 June 2006 30 June 2005 31 March 2006 (Audited)1. Interest Earned (a)+(b)+(c)+(d) 408.27 347.29 1436.53 (a) Interest/discount on advances/bills 278.64 204.98 916.00 (b) Income on investments 115.11 103.60 458.17 (c) Interest on balances with RBI and other 13.69 17.56 35.94inter bank funds (d) Others 0.83 21.15 26.422. Other Income 54.25 42.21 216.95A. TOTAL INCOME (1+2) 462.52 389.50 1653.483. Interest Expended 249.66 203.12 836.734. Operating Expenses (e)+(f) 99.13 91.26 364.57 (e) Payments to and provisions for 64.91 59.35 228.36employees (f) Other operating expenses 34.22 31.91 136.21B. TOTAL EXPENDITURE (3)+(4) (excluding 348.79 294.38 1201.30Provisions and Contingencies)C. OPERATING PROFIT (A-B) (Profit before 113.73 95.12 452.18Provisions and Contingencies)D. Other Provisions and Contingencies 55.92 33.19 171.41 (of which provision for NPAs) (24.51) (24.10) (95.58)E. Provision for Taxes 17.63 13.25 55.56F. Net Profit/(Loss) (C-D-E) 40.18 48.68 225.215. Paid-up Equity Share Capital 85.60 65.60 85.606. Reserves excluding revaluation reserve (asper Balance Sheet of the previous accountingyear) 1157.30 7. Analytical Ratios (i) Percentage of shares held by Government Nil Nil NILof India (ii) Capital Adequacy Ratio (%) 13.04 11.98 13.75 (iii) Earnings per Share -Basic (Rs.) *4.69 *7.42 32.71 (iv) (a) Amount of Gross Non-performing Assets 549.20 652.88 563.05 (b) Amount of Net Non-performing Assets 91.15 170.77 111.60 (c) % of Gross NPAs 4.44 7.10 4.62 (d) % of Net NPAs 0.76 1.96 0.958. Aggregate of Non-Promoter Shareholding:- Number of Shares 856.03 lakh 656.02 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 and also for gratuity, pension, bonus,income-tax including deferred tax & fringe benefit tax and other usual andnecessary items have been made on estimated basis. 3. A sum of Rs.17.02 crore (previous period Rs.Nil) has been provided foron equity investments due to fall in equity price. 4. 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. 5. The Bank had 2 investor complaints pending as on 31 March 2006 and hasreceived 66 complaints during the quarter. Out of this, 66 complaints weredisposed of and 2 are pending as on 30 June 2006. 6. 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 21 July 2006. 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 2006 30 June 2005 31 March 2006 (Audited)Segment Revenue: Treasury operations 123.46 117.00 483.50 Banking operations (other than Treasury) 339.06 272.50 1169.98 Total 462.52 389.50 1653.48Segment Results: Treasury operations -22.24 6.68 37.06 Banking operations (other than Treasury) 80.05 55.25 243.71 Total Profit before Tax 57.81 61.93 280.77Capital employed: Treasury operations 171.00 57.22 139.96 Banking operations (other than Treasury) 1119.16 714.80 1110.04 Total 1290.16 772.02 1250.00 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. VENUGOPALAN21 July 2006 CHAIRMAN This information is provided by RNS The company news service from the London Stock Exchange