State Bk.in.gdr Regulatory News (SBID)

14 May 2007 07:00

State Bank Of India12 May 2007 STATE BANK OF INDIA Central Office, Mumbai - 400 001. AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2007 Segment-wise Revenue, Results and Capital Employed Part A : Primary Segments Rs. in croresBusiness Segments Banking Operations Treasury Operations Elimination Total Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Particulars 31.03.2007 31.03.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006Revenue 44472.16 35265.88 11464.20 17436.77 10739.92 11474.69 45196.44 41227.96Result 8706.06 6042.34 117.73 -1991.32 8823.79 4051.02Unallocated income/ -1233.98 1918.65(expenses) (net) Operating Profit 7589.81 5969.67Income Tax 3048.50 2499.48Extraordinary Profit / Loss 936.48 936.48 Net Profit 4541.31 4406.67OTHER INFORMATION Segment Assets 428911.94 219714.80 206373.26 382211.31 71259.28 110480.29 564025.92 491445.82Unallocated Assets 2539.32 2583.13Total Assets 566565.24 494028.95Segment Liabilities 401013.33 216599.31 202973.32 357682.71 86738.82 108709.24 517247.83 465413.38Unallocated Liabilities 18018.85 812.08Total Liabilities 535266.68 466225.46 Part B : Secondary Segments Rs. in crores Geographic Segments Domestic Operations Foreign Operations Total Year ended Year ended Year ended Year ended Year ended Year ended Particulars 31.03.2007 31.03.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006 Revenue 41451.12 40726.40 3809.15 2688.37 45260.27 43414.77 Assets 513812.16 450482.65 52753.08 43546.30 566565.24 494028.95 STATE BANK OF INDIA Central Office, Mumbai - 400 021 AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH 2007 Rs. in crores Nine month Quarter ended Year ended Consolidated Particulars ended Year Ended 31.12.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006 31.03.2007 31.03.2006 1 Interest Earned 27949.56 11541.46 8509.08 39491.03 35979.57 57237.76 49707.48 (a)+(b)+(c)+(d) (a) Interest/ 17782.61 7056.56 4758.73 24839.18 17696.30 36832.81 25899.27 discount on advances/bills (b) Income on 8647.73 2845.26 3316.37 11492.99 13977.53 16826.11 19313.62 Investments (c) Interest on 1092.58 1627.03 281.25 2719.61 2121.73 3122.94 2079.53 balances with RBI and other interbank funds (d) Others 426.64 12.61 152.73 439.25 2184.01 455.90 2415.06 2 Other Income 5007.39 2894.30 2677.02 5769.25 7435.20 11139.07 11127.44 (A) TOTAL INCOME 32956.95 14435.76 11186.10 45260.28 43414.77 68376.83 60834.92 (1+2) 3 Interest Expended 16215.49 7221.33 4954.51 23436.82 20390.44 33982.75 27871.74 4 Operating Expenses 8577.49 3246.02 2954.42 11823.52 11725.10 20001.78 17601.30 (e) + (f) (e) Payments to and 5908.71 2023.88 1924.17 7932.58 8123.04 10597.46 10763.80 provisions for employees (f) Other Operating 2668.78 1222.14 1030.25 3890.94 3602.06 9404.32 6837.50 Expenses (B) TOTAL 24792.98 10467.35 7908.93 35260.34 32115.54 53984.53 45473.04 EXPENDITURE (3) + (4) (excluding Provisions and Contingencies) (C ) OPERATING 8163.97 3968.41 3277.17 9999.94 11299.23 14392.30 15361.88 PROFIT (A - B) (Profit before Provisions and Contingencies) (D) Provisions 3129.49 1412.59 1339.14 2409.64 4393.08 3614.93 6470.82 and Contingencies --- of which 698.26 731.23 3.63 1429.50 147.81 1775.89 414.06 provisions for Non-performing assets (E) Provision 1986.36 1062.63 1084.74 3048.99 2499.48 4157.57 3229.57 for Taxes -- of which 35.00 88.50 427.00 88.50 458.00 124.76 620.30 provisions for Fringe Benefit Tax (FBT) (F) NET PROFIT 3048.12 1493.19 853.29 4541.31 4406.67 6619.80 5661.49 (C - D - E) (G) NET PROFIT 6364.38 5529.92 AFTER MINORITY INTEREST 5 Paid-up equity Share 526.30 526.30 526.30 526.30 526.30 526.30 526.30 Capital 6 Reserves excluding 26824.39 30503.66 26824.39 30503.66 26824.39 41691.86 36323.79 revaluation reserves 7 Analytical Ratios (i ) Percentage of nil nil nil nil nil nil nil shares held by Govt.of India (ii) Capital Adequacy 11.86% 12.34% 11.88% 12.34% 11.88% 12.36% 12.55% Ratio (iii) Earnings Per 57.92 28.37 16.21 86.29 83.73 120.93 105.07 Share (in Rs.) (not (not (not annualised) annualised) annualised) (iv) (a) Amount of 9902.85 9998.22 9628.14 9998.22 9628.14 gross non-performing assets (b) Amount of 4487.16 5257.72 4911.41 5257.72 4911.41 net non-performing assets (c) % of gross 3.15% 2.92% 3.61% 2.92% 3.61% NPAs (d) % of net 1.45% 1.56% 1.88% 1.56% 1.88% NPAs (v) Return on Assets 0.78% 1.03% 0.69% 0.84% 0.89% (Annualised) 8 Shareholding pattern a) Reserve Bank of 314338700 314338700 314338700 314338700 314338700 India .. .. .. No. of shares .. .. .. % of 59.73% 59.73% 59.73% 59.73% 59.73% shareholding b) Others .. .. .. 211959678 211959678 211959678 211959678 211959678 No. of shares .. .. .. % of 40.27% 40.27% 40.27% 40.27% 40.27% shareholding 1. The Central Board have declared a dividend of Rs.14 per share for the yearended 31st March 2007. 2. During the year, the Bank has changed the segmental pricing methodology,which was necessitated for presenting more meaningful segment results. Thefinancial effect of the change on the segmental results can not be reasonablydetermined. However, this change does not have any impact on the financials ofthe Bank. 3. The Bank had hitherto been following a policy of amortization of premium inrespect of securities held in the "Held to Maturity" (HTM) category by anadjustment to the account head "Provision and Contingencies". From the currentfinancial year and in accordance with RBI directive dated 20th April 2007, theBank has charged the amortisation amount as well as marked to market losses ontransfer of securities from "Available for Sale" (AFS) to HTM category by anadjustment to the account head Other Income : "Profit on Revaluation ofInvestments" as a deduction. As a result of this change in accounting policy,the book value of the securities is reduced by Rs. 6357.06 crores being theamortisation and marked to market losses on intercategory transfer of Rs.1677.51 crores for the current year and Rs. 4679.55 crores for the previousyear.However, there is no impact on the Net Profit for the year. 4. The Bank accounts for the interest on Income Tax refund on determination ofinterest by taxation authorities. Such interest is credited to Profit and Lossaccount on such determination. Any subsequent withdrawal of interest is beingcharged to Profit and Loss account. However, during earlier years, interest ofRs. 264.76 crores withdrawn by taxation authorities, was debited to the "Taxpaid in advance". This has been rectified during the year to fall in line withthe rational of opinion expressed by Expert Advisory Committee of the Instituteof Chartered Accountants of India in similar instance. 5. Number of Investors Complaints received and disposed of during the quarterended 31st March, 2007 : (i) Pending at the beginning of the quarter 102. (ii)Received during the quarter 1007. (iii) Disposed of during the quarter 1016.(iv) Lying unresolved at the end of the quarter 93. 6. The figures of previous periods have been regrouped, wherever necessary, tocorrespond to current periods' classification. The above results have been taken on record by the Central Board of the Bank onthe 12th May 2007. Kolkata YOGESH AGARWAL T. S. BHATTACHARYA O. P. BHATTDate : 12th May, 2007 Managing Director & Group Executive Managing Director & Group Executive Chairman (National Banking) (Corporate Banking) This information is provided by RNS The company news service from the London Stock Exchange