Last checked at 22 Oct 2008 12:13
| THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA | ||||||||||||
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| UNAUDITED FINANCIAL RESULTS | ||||||||||||
| FOR THE QUARTER ENDED 30 SEPTEMBER 2008 | ||||||||||||
| (Rs. Crore) | ||||||||||||
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| Quarter ended 30 September | Half Year ended 30 September | Year ended 31 March 2008 | |||||||||
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| 2008 (Unaudited) | 2007 (Unaudited) | 2008 (Unaudited) | 2007 (Unaudited) | (Audited) | |||||||
| 1. Interest earned (a)+(b)+(c)+(d) | 828.10 | 594.37 | 1573.22 | 1149.59 | 2515.44 | |||||||
| (a) Interest/discount on advances/bills | 649.02 | 427.46 | 1199.02 | 832.04 | 1827.32 | |||||||
| (b) Income on Investments | 170.20 | 148.63 | 350.97 | 282.05 | 621.80 | |||||||
| (c) Interest on balances with RBI and other inter bank funds | 6.82 | 9.31 | 13.48 | 21.12 | 37.47 | |||||||
| (d) Others | 2.06 | 8.97 | 9.75 | 14.38 | 28.85 | |||||||
| 2. Other Income | 104.21 | 80.69 | 200.42 | 185.17 | 394.99 | |||||||
| 3. TOTAL INCOME (1+2) | 932.31 | 675.06 | 1773.64 | 1334.76 | 2910.43 | |||||||
| 4. Interest expended | 496.32 | 391.84 | 963.25 | 758.30 | 1647.43 | |||||||
| 5. Operating Expenses (i)+(ii) | 133.06 | 106.60 | 253.94 | 211.41 | 468.88 | |||||||
| (i) Employee Cost | 71.52 | 62.88 | 137.64 | 126.00 | 271.23 | |||||||
| (ii) Other operating expenses | 61.54 | 43.72 | 116.30 | 85.41 | 197.65 | |||||||
| 6. TOTAL EXPENDITURE (4)+(5) (excluding Provisions and Contingencies) | 629.38 | 498.44 | 1217.19 | 969.71 | 2116.31 | |||||||
| 7. OPERATING PROFIT (3-6) | 302.93 | 176.62 | 556.45 | 365.05 | 794.12 | |||||||
| (Profit before Provisions and Contingencies) |
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| 8. Provisions (other than tax) and Contingencies | 156.87 | 54.79 | 329.27 | 121.78 | 293.97 | |||||||
| 9. Exceptional Items | Nil | Nil | Nil | Nil | 0.00 | |||||||
| 10. Profit (+)/Loss(-) from Ordinary Activities before tax (7-8-9) | 146.06 | 121.83 | 227.18 | 243.27 | 500.15 | |||||||
| 11. Tax expense | 31.78 | 26.50 | 44.75 | 81.00 | 132.10 | |||||||
| 12. Net Profit(+)/Loss(-) from Ordinary Activities after tax (10-11) | 114.28 | 95.33 | 182.43 | 162.27 | 368.05 | |||||||
| 13. Extra ordinary items (net of tax expense) | Nil | Nil | Nil | Nil | 0.00 | |||||||
| 14. Net Profit(+)/Loss(-) for the period (12-13) | 114.28 | 95.33 | 182.43 | 162.27 | 368.05 | |||||||
| 15. Paid-up equity share capital (Face value Rs.10/-) | 171.03 | 85.60 | 171.03 | 85.60 | 171.03 | |||||||
| 16. Reserves excluding revaluation reserve (as per Balance Sheet of the previous accounting year) |
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| 3748.30 | |||||||
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| 17. Analytical Ratios |
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| (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | |||||||
| (ii) Capital Adequacy ratio (%) | 20.81 | 13.08 | 20.81 | 13.08 | 22.46 | |||||||
| (iii) Earnings per Share (EPS) a) Basic and diluted EPS before Extra ordinary items (net of tax expense) b) Basic and diluted EPS after Extra ordinary items | 6.68* 6.68* |
11.14* 11.14* | 10.67* 10.67* |
18.96* 18.96* | 32.42 32.42 | |||||||
| (iv) NPA Ratios |
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| a) Gross NPA | 571.90 | 472.90 | 571.90 | 472.90 | 468.59 | |||||||
| b) Net NPA | 85.28 | 69.80 | 85.28 | 69.80 | 43.20 | |||||||
| c) % of Gross NPA | 2.62 | 2.85 | 2.62 | 2.85 | 2.42 | |||||||
| d) % of Net NPA | 0.40 | 0.43 | 0.40 | 0.43 | 0.23 | |||||||
| (v) Return on Assets (%) | 0.35* | 0.38* | 0.56* | 0.66* | 1.34 | |||||||
| 18. Public Shareholding: |
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| - Number of Shares | 1599.16 lakh | 741.25lakh | 1599.16 lakh | 741.25 lakh | 1530.70 Lakh | |||||||
| - Percentage of shareholding | 93.55 | 86.59 | 93.55 | 86.59 | 89.55% | |||||||
* Not annualised
Segment Information @
(Rs. crore)
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| Quarter ended | Six months period ended | Year ended | ||
| 30-Sep-08 | 30-Sep-07 | 30-Sep-08 | 30-Sep-07 | 31-Mar-08 | |
| Segment Revenue: | | | | | |
| Treasury operations | 165.99 | 165.13 | 342.06 | 312.11 | 703.24 |
| Corporate/Wholesale Banking | 269.55 | 509.93 | 385.59 | 1022.65 | 533.60 |
| Retail Banking | 486.59 | 1020.72 | 1605.82 | ||
| Other Banking operations | 10.18 | 25.27 | 67.77 | ||
| Total Revenue | 932.31 | 675.06 | 1773.64 | 1334.76 | 2910.43 |
| Segment Results (net of provisions): | | | | | |
| Treasury operations | 17.58 | 23.72 | -118.77 | 24.39 | -6.46 |
| Corporate/Wholesale Banking | 70.70 | 98.11 | 57.47 | 218.88 | 31.86 |
| Retail Banking | 78.04 | 303.11 | 466.10 | ||
| Other Banking operations | -20.26 | -14.63 | 8.65 | ||
| Total Profit before Tax | 146.06 | 121.83 | 227.18 | 243.27 | 500.15 |
| Capital employed: | | | | | |
| Treasury operations | 1107.43 | 186.23 | 1107.43 | 186.23 | 1334.21 |
| Corporate/Wholesale Banking | 993.70 | 1478.02 | 993.70 | 1478.02 | 845.89 |
| Retail Banking | 2000.42 | 2000.42 | 1736.23 | ||
| Other Banking operations | 6.58 | 6.58 | 9.37 | ||
| Total | 4108.13 | 1664.25 | 4108.13 | 1664.25 | 3925.70 |
@ For the year ended 31 March 2008 and quarter/half year ended 30 Sept 2008, the reportable segments are identified into Treasury, Corporate/Wholesale banking, Retail Banking and Other Banking Operations in compliance with the revised RBI guidelines issued in April 2007 with effect from 31 March 2008. The figures for the previous periods are not reclassified and therefore not comparable. The Bank has only the Domestic geographic segment.
Notes
As a prudent policy, the Bank holds provisions for NPAs and standard assets over and above the minimum required under the RBI norms.
Provisions for gratuity, pension, bonus, wage arrears, income-tax including deferred tax & fringe benefit tax and other usual and necessary items have been made on estimated basis.
Reconciliation/adjustment of outstanding entries in Inter branch/office transactions is in progress. In the opinion of the Bank, consequential effect of the same on the revenue/assets/liabilities is not likely to be material.
Government of India has formulated 'Agricultural Debt Waiver and Debt Relief Scheme-2008' for giving debt waiver to marginal and small farmers and relief to other farmers who have availed direct agricultural loans, in respect of which provision has been made during the quarter as required by RBI circular based on the data now available, which is subject to audit by Statutory Central Auditors.
The Bank had no investor complaints pending as on 30 June 2008. All the 22 complaints received during the quarter were disposed off and there are no pending complaints as on 30 September 2008.
Figures for the previous periods have been recast/regrouped wherever necessary.
The above financial results, subjected to limited review by Statutory Central Auditors, have been taken on record by the Audit Committee and approved by the Board of Directors at its meeting held on 18 October 2008.
Kochi M. VENUGOPALAN
18 October 2008 MANAGING DIRECTOR & CEO