Federal Bk S Regulatory News (FEDS)

THE FEDERAL BANK LIMITED

REGD.OFFICE: ALUVA

AUDITED FINANCIAL RESULTS

FOR THE QUARTER & YEAR ENDED 31ST MARCH 2011

(` in Crore)

Quarter ended 31 March

Year ended 31 March

Consolidated figures for the year ended31 March

2011

2010

2011

2010

2011

2010

1

Interest earned(a)+(b)+(c)+(d)

1,100.02

953.14

4,052.03

3,673.23

4,052.03

3,673.24

(a) Interest/discount on advances/bills

857.12

743.49

3,168.80

2,849.73

3,168.80

2,849.73

(b) Income on Investments

238.76

194.69

868.03

783.41

868.03

783.41

(c) Interest on balances with RBI and

other interbank funds

2.65

5.85

10.60

29.85

10.60

29.85

(d) Others

1.49

9.11

4.60

10.24

4.60

10.25

2

Other Income

141.19

130.59

516.81

530.91

518.33

532.55

3

TOTAL INCOME (1+2)

1,241.21

1,083.73

4,568.84

4,204.14

4,570.36

4,205.79

4

Interest expended

652.38

543.45

2,305.45

2,262.40

2,304.49

2,261.77

5

Operating Expenses (i)+(ii)

238.61

188.49

836.14

676.89

836.54

676.02

(i) Employee Cost

135.03

96.46

480.41

366.05

485.69

369.93

(ii) Other operating expenses

103.58

92.03

355.73

310.84

350.85

306.09

6

TOTAL EXPENDITURE (4)+(5)(excluding Provision and Contingencies)

890.99

731.94

3,141.59

2,939.29

3,141.03

2,937.79

7

OPERATING PROFIT (3-6)

(Profit before Provisions and Contingencies)

350.22

351.79

1,427.25

1,264.85

1,429.33

1,268.00

8

Provisions (other than Tax) and Contingencies

79.42

97.90

525.44

405.30

557.45

432.61

9

Exceptional Items 

-

-

-

-

-

-

10

Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9)

270.80

253.89

901.81

859.55

871.88

835.39

11

Tax expense 

99.08

137.04

314.73

395.00

315.42

395.72

12

Net Profit (+)/Loss(-) from Ordinary Activities after tax (10-11)

171.72

116.85

587.08

464.55

556.46

439.67

13

Extraordinary items (net of tax expense) 

-

-

-

-

-

-

14

Net Profit (+)/Loss(-) for the period (12-13) 

171.72

116.85

587.08

464.55

556.46

439.67

15

Paid-up equity share capital(Face value Rs.10/-)

171.05

171.03

171.05

171.03

171.05

171.03

16

Reserves excluding revaluation reserve

-

-

4,931.98

4,513.55

4841.02

4453.21

17

Analytical Ratios 

(i) Percentage of shares held by

Government of India

NIL

NIL

NIL

NIL

NIL

NIL

(ii) Capital Adequacy ratio (%)

 (a) Under Basel I

15.39

17.27

15.39

17.27

15.27

17.13

 (b) Under Basel II

16.79

18.36

16.79

18.36

16.67

18.23

(iii) Earnings per Share (EPS)

 (a) Basic and diluted EPS before Extra ordinary Items

10.04*

6.83*

34.32

27.16

32.53

25.71

 (b) Basic and diluted EPS after Extra ordinary items

10.04*

6.83*

34.32

27.16

32.53

25.71

(iv) NPA Ratios

a) Gross NPA

1148.33

820.97

1148.33

820.97

1148.33

820.97

b) Net NPA

190.69

128.79

190.69

128.79

190.69

128.79

c) % of Gross NPA

3.49

2.97

3.49

2.97

3.49

2.97

d) % of Net NPA

 0.60

0.48

0.60

0.48

 0.60

0.48

(v) Return on Asset (%)

 0.37*

0.27*

1.34

1.15

1.27

1.09

18

Public Shareholding:

 Number of Shares

1676.75Lakhs

1672.11Lakhs

1676.75Lakhs

1672.11Lakhs

1676.75Lakhs

1672.11Lakhs

 Percentage of shareholding

98.08

97.82

98.08

97.82

98.08

97.82

19

Promoters and Promoter group share holding 

 NIL

 NIL

 NIL

 NIL

 NIL

 NIL

* Not annualised

Statement of Assets and Liabilities

 (` in Crores)

Particulars

 As at 31.03.2011 (Audited)

 As at 31.03.2010 (Audited)

CAPITAL AND LIABILITIES

Capital

171.05

171.03

Reserve & Surplus

4,937.61

4,519.42

Deposits

43,014.78

36,057.95

Borrowings

1,888.36

1,546.76

Other Liabilities and Provisions

1,444.56

,380.45

Total

51,456.36

43,675.61

ASSETS

Cash and balance with Reserve Bank of India

2,935.05

2,318.88

Balance with Banks and Money at Call and Short Notice

813.25

404.51

Investments

4,537.68

13,054.65

Advances

31,953.23

26,950.11

Fixed Assets

289.82

289.77

Other Assets

927.33

657.69

Total

51,456.36

43,675.61

Segment Information @

 (` in Crores)

 Quarter ended

 Year ended

31-Mar-11

31-Mar-10

31-Mar-11

31-Mar-10

Segment Revenue:

Treasury operations

251.63

197.88

932.00

908.70

 Corporate/Wholesale Banking

357.94

470.48

 1,461.07

1,285.02

 Retail Banking

628.50

399.12

2,157.73

1,975.06

 Other Banking operations

3.14

16.25

18.04

35.36

 Unallocated

-

-

-

-

 Total Revenue

1,241.21

1,083.73

4,568.84

4,204.14

Segment Results (net of provisions):

 Treasury operations

8.96

7.84

83.86

151.47

 Corporate/Wholesale Banking

28.47

92.72

222.82

229.86

 Retail Banking

232.09

140.78

585.51

449.91

 Other Banking operations

1.28

12.55

9.62

28.31

 Unallocated

-

-

-

-

 Total Profit before tax

270.80

253.89

901.81

859.55

Capital employed:

 Treasury operations

1,887.85

1,503.85

1,887.85

1,503.85

 Corporate/Wholesale Banking

1,277.83

1,381.06

1,277.83

1,381.06

 Retail Banking

1,247.22

1,802.44

1,247.22

1,802.44

 Other Banking operations

447.91

3.10

447.91

3.10

 Unallocated

247.85

-

247.85

-

Total

5,108.66

4,690.45

 5,108.66

 4,690.45

@

For the above segment reporting, the reportable segments are identified into Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations in compliance with the revised RBI guidelines. The Bank has only the Domestic geographic segment.

Notes

1

As a prudent policy, the Bank holds provisions for NPAs and standard assets over and above the minimum required under the RBI norms. Further, provision for restructured advances has been made as per RBI guidelines.

2

Provisions for gratuity, pension (other than second option for pension by employees), leave encashment, bonus, income tax including deferred tax and other usual and necessary items have also been made. The net liability arising on exercise of second option for pension by employees (other than separated/retired employees) is actuarially determined at Rs.168.43 Crore, and 1/5th of the said liability amounting to Rs.33.71 crore is charged to Profit and loss account of the year, along with the amounts relating to separated/retired employees amounting to Rs.7.88 Crores, the balance unamortised liability of Rs.134.72 crore is carried over to be amortised equally in the succeeding four years, as per approval of RBI vide letter no. DBOD No.BP.BC.15896/21.01.618/2010-11 dated 08.04.2011.

3

Number of Investor complaints/correspondence received and disposed off during the quarter ended 31 March 2011:a) Pending at the beginning of the quarter : NILb) Received during the quarter : 28c) Disposed off during the quarter : 28d) Pending at the end of the quarter : NIL

4

The Board of Directors have recommended a dividend of 85% i.e. Rs.8.50 per share on face value of Rs.10/- each for the year 2010-11 subject to approval by Government of India as required under Section 53 read with Section 15 of the Banking Regulation Act, 1949.

5

Consolidated financial statements include that of the fully owned subsidiary, Fedbank Financial Services Ltd and associate, IDBI Federal Life Insurance Company Ltd.

6

Figures for the previous periods have been recast/ regrouped wherever necessary.

7

The above financial results have been taken on record by the Audit Committee and approved by the Board of Directors at its meeting held on 06.05.2011.

Kochi

 SHYAM SRINIVASAN

06 May 2011

 MANAGING DIRECTOR & CEO