State Bk.in.gdr Regulatory News (SBID)

30 Jul 2007 07:00

State Bank Of India28 July 2007 STATE BANK OF INDIA Central Office, Mumbai - 400 021. UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2007 (Rs.in crores) State Bank of India State Bank of India (Consolidated) Quarter ended Year ended Quarter ended Year ended Particulars 30.06.2007 30.06.2006 31.03.2007 30.06.2007 30.06.2006 31.03.2007 (Reviewed) (Reviewed) (Audited) (Reviewed) (Reviewed) (Audited) 1 Interest Earned (a) + (b) + (c) + (d) 11386.51 8857.20 39491.03 16754.86 12829.41 57237.76 (a) Interest/discount on 7988.52 5462.35 24839.18 11851.26 7999.05 36832.81 advances/bills (b) Income on Investments 2894.36 2940.21 11492.99 4305.95 4262.93 16826.11 (c) Interest on balances with 497.06 444.33 2719.61 577.22 513.39 3122.94 Reserve Bank of India and other interbank funds (d) Others 6.57 10.31 439.25 20.43 54.04 455.90 2 Other Income 842.58 709.59 5769.25 2127.82 1289.56 11139.07 (A) TOTAL INCOME (1+2) 12229.09 9566.79 45260.28 18882.68 14118.97 68376.83 3 Interest Expended 6889.12 4946.59 23436.82 10447.44 7268.95 33982.75 4 Operating Expenses (e) + (f) 2978.51 2814.58 11823.52 5085.45 4231.80 20001.78 (e) Payments to and provisions 2026.37 1924.29 7932.58 2773.85 2611.91 10597.46 for employees (f) Other Operating Expenses 952.14 890.29 3890.94 2311.60 1619.89 9404.32 (B) TOTAL EXPENDITURE (3) + (4) 9867.63 7761.17 35260.34 15532.89 11500.75 53984.53 (excluding Provisions and Contingencies) (C ) OPERATING PROFIT (A - B) 2361.46 1805.62 9999.94 3349.79 2618.22 14392.30 (Profit before Provisions and Contingencies) (D) Provisions and Contingencies 159.37 251.14 2409.64 387.45 667.24 3614.93 (net of write-back) --- of which provisions for 506.28 171.55 1429.50 708.19 288.10 1775.89 Non-performing assets (E) Provision for Taxes 776.28 755.91 3048.99 1038.70 924.60 4157.57 --- of which provisions for 26.00 92.50 88.50 38.14 44.20 124.76 Fringe Benefit Tax (FBT) (F) NET PROFIT (C - D - E) 1425.81 798.57 4541.31 1923.64 1026.38 6619.80 (G) NET PROFIT AFTER MINORITY INTEREST 1861.66 963.01 6364.38 5 Paid-up equity Share Capital 526.30 526.30 526.30 526.30 526.30 526.30 6 Reserves excluding revaluation reserves 30503.66 27117.79 30503.66 41691.86 36680.41 41691.86 (as per balance sheet of previous accounting year) 7 Analytical Ratios (i ) Percentage of shares held by Government of India 59.73% nil nil nil nil nil (ii) Capital Adequacy Ratio 13.13% 11.97% 12.34% 12.36% (iii) Earnings per Share ( in Rs. ) 27.09 15.17 86.29 35.37 18.30 120.93 (not (not (not (not annualised) annualised) annualised) annualised) (iv) (a) Amount of gross 10757.57 9720.70 9998.22 non-performing assets (b) Amount of net 5504.61 4832.61 5257.73 non-performing assets (c) % of gross NPAs 3.13% 3.64% 2.92% (d) % of net NPAs 1.62% 1.84% 1.56% (v) Return on Assets (Annualised) 0.94% 0.64% 0.84% 8 Aggregate Non promoters' Shareholding .. .. .. No. of shares 211959678 211959678 211959678 .. .. .. % of shareholding 40.27% 40.27% 40.27% Unaudited Segment-wise Revenue, Results and Capital Employed (Rs.in crores) Quarter ended Year ended Particulars 30.06.2007 30.06.2006 31.03.2007 (Reviewed) (Reviewed) (Audited) 1 Segment Revenue (income) a Banking Operations 12848.40 9597.84 44472.16 b Treasury Operations 2319.17 2575.64 11464.20 Total 15167.57 12173.48 55936.36 Less : Inter Segment 2938.48 2606.69 10739.92 Revenue Net Income from Operations 12229.09 9566.79 45196.44 2 Segment Results (Profit before tax) a Banking Operations 2885.37 1862.75 8706.06 b Treasury Operations -316.71 -147.01 117.73 Total 2568.66 1715.74 8823.79 Add/Less unallocated 366.57 161.26 -1233.98 Profit before Tax 2202.09 1554.48 7589.81 Less : Income Tax 776.28 755.91 3048.50 (including FBT) Net Profit 1425.81 798.57 4541.31 3 Segment Assets a Banking Operations 428911.94 219714.80 428911.94 b Treasury Operations 206373.26 382211.31 206373.26 c Unallocated 2539.32 2583.13 2539.32 Less : Eliminations 71259.28 110480.29 71259.28 Total 566565.24 494028.95 566565.24 4 Segment Liabilities a Banking Operations 401013.33 216599.31 401013.33 b Treasury Operations 202973.32 357682.71 202973.32 c Unallocated 18018.85 812.08 18018.85 Less : Eliminations 86738.82 108709.24 86738.82 Total 535266.68 466384.86 535266.68 (Segment Assets and Liabilities are as on 31st March of the previous year) 1. The working results for the quarter ended 30th June 2007 have been arrivedat after considering provisions for NPAs, Gratuity, Pension, Leave Encashment,Investment Depreciation, Income Tax (after adjustment for deferred tax), WealthTax, Fringe Benefit Tax (FBT) and Other Contingencies on an estimated basis 2. Pending issuance of a limited revision of AS-15 (Revised 2005) by the ICAIrelating to transitional provisions, the Bank has deferred compliance of AS-15(Revised 2005) and has made adequate provisions as per AS-15 (1995). 3. During the quarter, the Bank has made an additional provision of Rs.200/-crores, over and above the RBI norms, towards non-performing advances as ameasure of risk mitigation 4. As required by RBI, the Bank has deducted the amortization of premium onGovernment Securities (which was earlier included in 'Other Provisions andContingencies') from 'Other Income'. Prior period figures have been reclassifiedto conform to the current classification 5. During the quarter, the Bank has acquired 7300 shares of its subsidiaryIndian Ocean International Bank Ltd. (IOIB) Mauritius, increasing its stake inIOIB from 56.84% to 56.89%. 6. During the quarter, the Bank has raised USD 225 million (Rs.915.86 crores) asHybrid Tier I Capital in the form of Perpetual Non Call 2017 Bonds 7. During the quarter, the entire share holding of Reserve Bank of India inState Bank of India (aggregating 31,43,39,200 equity shares (59.73%), with aface value of Rs. 10/- each) has been transferred to the Central Government. 8. During the quarter, the Bank has shifted SLR investments having aggregateFace Value of Rs.9081.57 crores (quarter ended June '06 - Rs.9400 crores) from'Available for Sale' (AFS) category to 'Held to Maturity' (HTM) category,resulting in a net revaluation loss of Rs.297.67 crores (quarter ended June,2006 - Rs.225.73 crores). 9. Number of Investors Complaints received and disposed of during the quarterended 30th June, 2007 : (i) Pending at the beginning of the quarter 75. (ii)Received during the quarter 1294. (iii) Disposed of during the quarter 1282.(iv) Lying unresolved at the end of the quarter 87 10. Previous period figures have been regrouped/reclassified, wherevernecessary, to conform to current period classification. The above results have been taken on record by the Central Board of the Bank onthe 28th July 2007 and were subjected to Review by the Auditors Mumbai T. S. BHATTACHARYA O. P. BHATT Date : 28th July, 2007 Managing Director & Group Executive CHAIRMAN (Corporate Banking) This information is provided by RNS The company news service from the London Stock Exchange