Federal Bk S Regulatory News (FEDS)

THE FEDERAL BANK LIMITED

REGD.OFFICE: ALUVA

AUDITED FINANCIAL RESULTS

FOR THE QUARTER & YEAR ENDED 31ST MARCH 2010

(Rs. Crore)

Quarter ended 31 March

Year ended 31 March

Consolidated figures for the year ended 31 March

2010

2009

2010

2009

2010

2009

1

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

953.14

865.74

3,673.23

3,315.38

3,673.24

3,315.38

(a) Interest/discount on

advances/bills

743.49

664.91

2,849.73

2,564.25

2,849.73

2,564.25

(b) Income on Investments

194.69

182.80

783.41

700.27

783.41

700.27

(c) Interest on balances with RBI and other interbank funds

5.85

16.34

29.85

36.66

29.85

36.66

(d) Others

9.11

1.69

10.24

14.20

10.25

14.20

2

Other Income

130.59

150.54

530.91

515.77

532.55

516.01

3

TOTAL INCOME (1+2)

1,083.73

1,016.28

4,204.14

3,831.15

4,205.79

3,831.39

4

Interest expended

543.45

544.84

2,262.40

1,999.92

2,261.77

1,999.24

5

Operating Expenses (i)+(ii)

188.49

152.52

676.89

571.45

676.02

572.29

 (i) Employee Cost

96.46

76.86

366.05

317.45

369.93

320.73

(ii) Other operating expenses

92.03

75.66

310.84

254.00

306.09

251.56

6

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

731.94

697.36

2,939.29

2,571.37

2,937.79

2,571.53

7

OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies)

351.79

318.92

1,264.85

1,259.78

1,268.00

1,259.86

8

Provisions (other than Tax) and Contingencies

97.90

87.53

405.30

466.77

432.61

495.29

9

Exceptional Items

-

-

-

-

-

-

10

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

253.89

231.39

859.55

793.01

835.39

764.57

11

Tax expense 

137.04

117.22

395.00

292.52

395.72

292.56

12

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

116.85

114.17

464.55

500.49

439.67

472.01

13

Extraordinary items (net of tax expense) 

- 

-

-

-

- 

- 

14

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

116.85

114.17

464.55

500.49

439.67

472.01

15

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

171.03

171.03

171.03

171.03

171.03

171.03

16

Reserves excluding revaluation reserve

4,513.55

4,148.74

4453.21

4113.27

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

17.27

20.14

17.27

20.14

17.13

20.06

(b) Under Basel II

18.36

20.22

18.36

20.22

18.23

20.14

(iii) Earning per Share (EPS)

(a) Basic and diluted EPS

before Extra ordinary

Itemes

6.83*

6.68*

27.16

29.26

25.71

27.60

(b) Basic and diluted EPS after Extra ordinary items

6.83*

6.68*

27.16

29.26

25.71

27.60

(iv) NPA Ratios

-

a) Gross NPA

820.97

589.54

820.97

589.54

820.97

589.54

b) Net NPA

128.79

68.12

128.79

68.12

128.79

68.12

c) % of Gross NPA

2.97

2.57

2.97

2.57

2.97

2.57

d) % of Net NPA

0.48

0.30

0.48

0.30

0.48

0.30

(v) Return on Asset (%)

 0.27*

0.31*

1.15

1.48

1.09

1.39

18

Public Shareholding:

Number of Shares

1672.11 Lakh

1615.57 Lakh

1672.11 Lakh

1615.57 Lakh

1672.11 Lakh

1615.57 Lakh

Percentage of shareholding

97.82

94.51

97.82

94.51

97.82

94.51

19

Promoters and Promoter group share holding

 NIL

 NIL

 NIL

 NIL

 NIL

 NIL

* Not annualised

Segment Information @

 (Rs. Crore)

Quarter ended

Year ended

31-Mar-10

31-Mar-09

31-Mar-10

31-Mar-09

Segment Revenue:

Treasury operations

197.88

229.52

908.70

803.87

Corporate/Wholesale Banking

470.48

425.10

1,285.03

943.39

Retail Banking

399.12

353.71

1,975.06

2,040.38

Other Banking operations

16.25

7.95

35.35

43.51

Total Revenue

1,083.73

1,016.28

4,204.14

3,831.15

Segment Results (net of provisions):

Treasury operations

7.84

8.95

151.47

41.87

Corporate/Wholesale Banking

92.71

104.92

229.86

112.36

Retail Banking

140.78

113.98

449.91

655.68

Other Banking operations

12.54

3.54

28.29

(16.90)

Total Profit before tax

253.87

231.39

859.53

793.01

Capital employed:

Treasury operations

1,503.85

1,469.44

1,503.85

1,469.44

Corporate/Wholesale Banking

1,381.06

1,068.44

1,381.06

1,068.44

Retail Banking

1,802.44

1,782.84

1,802.44

1,782.84

Other Banking operations

3.09

5.16

3.09

5.16

Total

4,690.44

4,325.88

4,690.44

4,325.88

@

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

2

Provisions for gratuity, pension, leave encashment, wage arrears, bonus, income tax including deferred tax, restructured advances and other usual and necessary items have also been made.

3

The Bank had no investor complaints pending as on 31 December 2009. There were 29 complaints received during the quarter. Out of which 28 complaints were disposed off and there is one complaint pending as on 31.03.2010.

4

The Board of Directors have recommended a dividend of Rs.5 per share (50% on equity share.)

5

Consolidated financial statements include that of the fully owned subsidiary, Fedbank Financial Services Ltd and associate, IDBI Fortis 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 14 May 2010.

Kochi

 M. VENUGOPALAN

14 May 2010

 MANAGING DIRECTOR & CEO