State Bk.in.gdr Regulatory News (SBID)

19 May 2006 13:44

State Bank Of India19 May 2006 Letter to: The Bombay Stock Exchange Ltd., MumbaiDated: May 19, 2006 STATE BANK OF INDIAGLOBAL DEPOSIT RECEIPTS (GDRs)COMMON CODE 6996167, ISIN - US 8565522039, CINS - 856552203LISTING AGREEMENTAUDITED WORKING RESULTS OF STATE BANK OF INDIAFOR THE YEAR ENDED 31st MARCH, 2006 In terms of Clause 41 of the Listing Agreement we forward herewith a copy of theaudited working results of the Bank for year ended the 31st March, 2006, taken on record by the Central Board of the Bank at its meeting held on date. From: General Manager (Shares & Bonds) State Bank of India STATE BANK OF INDIA Central Office, Mumbai - 400 021 AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH 2006 Rs. in crores Nine months Quarter ended Year ended ConsolidatedParticulars ended Year Ended 31.12.2005 31.03.2006 31.03.2005 31.03.2006 31.03.2005 31.03.2006 31.03.2005 1 Interest Earned (a)+(b)+(c)+(d) 27285.85 8509.08 8647.51 35794.93 32428.00 49707.48 44499.06 (a) Interest/discount on advances/bills 12937.57 4758.73 3467.49 17696.30 13043.51 25899.27 19180.63 (b) Income on Investments 10661.16 3316.37 4228.42 13977.53 16027.67 19313.62 21533.65 (c) Interest on balances with Reserve Bank of India and other interbank funds 1479.72 281.25 407.40 1760.97 1787.04 2079.53 2021.30 (d) Others 2207.40 152.73 544.20 2360.13 1569.78 2415.06 1763.48 2 Other Income 4711.66 2677.02 1690.65 7388.69 7119.91 11127.44 10036.64 (A) TOTAL INCOME (1+2) 31997.51 11186.10 10338.16 43183.62 39547.91 60834.92 54535.70 3 Interest Expended 15204.78 4954.51 4696.86 20159.29 18483.38 27871.74 24891.84 4 Operating Expenses (e) + (f) 8770.68 2954.42 2717.22 11725.10 10074.17 17601.30 14443.55 (e) Payments to and provisions for employees 6198.87 1924.17 1849.43 8123.04 6907.35 10763.80 8987.46 (f) Other Operating Expenses 2571.81 1030.25 867.79 3602.06 3166.82 6837.50 5456.09 (B) TOTAL EXPENDITURE (3) + (4) 23975.46 7908.93 7414.08 31884.39 28557.55 45473.04 39335.39 (excluding Provisions and Contingencies) (C) OPERATING PROFIT (A - B) 8022.05 3277.17 2924.08 11299.23 10990.36 15361.88 15200.31 (Profit before Provisions and Contingencies) (D) Provisions and Contingenecies 3053.93 1339.14 1672.17 4393.08 4468.76 6470.82 6970.56 --- of which provisions for Non-performing assets 144.18 3.63 -96.00 147.81 1204.00 414.06 1403.38 (E) Provision for Taxes 1414.74 1084.74 187.03 2499.48 2217.08 3229.57 2631.78 -- of which provisions for Fringe Benefit Tax (FBT) 31.00 427.00 458.00 620.30 (F) NET PROFIT (C - D - E) 3553.38 853.29 1064.88 4406.67 4304.52 5661.49 5597.97 (G) NET PROFIT AFTER MINORITY INTEREST 5529.92 5463.93 5 Paid-up equity Share Capital 526.30 526.30 526.30 526.30 526.30 526.30 526.306 Reserves excluding revaluation reserves 23545.84 27117.79 23545.84 27117.79 23545.84 36680.41 32025.507 Analytical Ratios (i ) Percentage of shares held by Govt.of India nil nil nil nil nil nil nil (ii) Capital Adequacy Ratio 12.49% 11.88% 12.45% 11.88% 12.45% 12.55% 13.07% (iii) Earnings Per Share (in Rs.) 67.52 16.21 20.23 83.73 81.79 105.07 103.82 (not (not (not annualised) annualised) annualised) (iv) (a) Amount of gross non-performing assets 10960.90 10375.75 12456.25 10375.75 12456.25 (b) Amount of net non-performing assets 4045.52 4906.42 5348.89 4906.42 5348.89 (c) % of gross NPAs 4.41% 3.88% 5.96% 3.88% 5.96% (d) % of net NPAs 1.67% 1.87% 2.65% 1.87% 2.65% (v) Return on Assets (Annualised) 1.01% 0.69% 0.94% 0.89% 0.99%8 Shareholding pattern a) Reserve Bank of India .. No. of shares 314338700 314338700 314338700 314338700 314338700 .. % of shareholding 59.73% 59.73% 59.73% 59.73% 59.73% b) Others .. No. of shares 211960178 211960178 211960178 211960178 211960178 .. % of shareholding 40.27% 40.27% 40.27% 40.27% 40.27% 1. The Central Board have declared a dividend of Rs.14 per share for the yearended 31st March 2006. 2. Investments in Regional Rural Banks (RRBs) were hitherto accounted afternetting off provisions towards losses incurred by RRBs in proportion to and notexceeding the Bank's investment. From the current financial year, theseinvestments have been valued at cost, which is in line with the RBI guidelines.Consequently, the profit for the period is higher by Rs.86.86 crores . 3. Interest Earned - Others includes an amount of Rs.1638.46 crores, (previousyear Rs.745.28 cr) , being interest on refund of Income Tax. 4. Other Income includes an amount of Rs.531.54 crores being Exchange Gain onIndia Millennium Deposits (IMDs) Redemption.Consequently, proift (net of tax)for the year is higher by Rs.352.62 crores. 5. An amount of Rs.563.52 crores paid to Reserve Bank of India for Maintenanceof Value by debit to Interest Expended Account in the years 2001 and 2002 wasreceived back during the year on redemption of IMDs and credited to Interest Expended Account. Consequently, profit (net of tax) for the year is higher by Rs.373.84 crores. 6. Payments to and provisions for employees, under Operating Expenses, includes an amount of Rs.312.87 crores, being arrears of salary paid for the previous financial years. 7. An amount of Rs.128.00 crores, being write-back of provisions renderedsurplus (other than advances, investments and investments in subsidiaries andjoint ventures), is netted under the head Provisions and Contingencies. 8. As a one-time measure, in terms of RBI guidelines, unreconciled net creditbalances (net value of debit and credit entries outstanding) in the Inter BranchAccounts upto 31.03.1999, aggregating Rs.316.58 crores, has been credited toProfit & Loss Account under the head Miscellaneous Income. Consequently, profit(net of tax) for the year is higher by Rs.210.02 crores. Out of this, an amountof Rs.157.52 crores (net of tax and net of transferred to Statutory Reserves)has been appropriated to Other Reserves. 9. In terms of RBI guidelines, the Bank has transferred, as on 31.03.2006, thebalances outstanding in the Investment Fluctuation Reserve amounting toRs.5253.89 crores to the Revenue and Other Reserves. 10. Number of Investors Complaints received and disposed of during the quarterended 31st March, 2006 : (i) Pending at the beginning of the quarter 57. (ii)Received during the quarter 964. (iii) Disposed of during the quarter 983. (iv) Lying unresolved at the end of the quarter 38. 11. The figures of previous periods have been regrouped/rearranged, wherevernecessary, to correspond to current periods' classification. The above results have been taken on record by the Central Board of the Bankon the 19th May 2006. Kolkata O. P. BHATT T. S. BHATTACHARYA A. K. PURWARDate : 19th May, 2006 Managing Director & Managing Director & Chairman Group Executive Group Executive (National Banking) (Corporate Banking) "Visit SBI on the Internet at http://www.sbi.co.in" STATE BANK OF INDIA Central Office, Mumbai - 400 001. AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2006 Segment-wise Revenue, Results and Capital Employed Part A : Primary Rs. in croresSegmentsBusiness Banking Operations Treasury Operations Elimination TotalSegments Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Particulars 31.03.2006 31.03.2005 31.03.2006 31.03.2005 31.03.2006 31.03.2005 31.03.2006 31.03.2005 Revenue 35265.88 32403.55 17436.77 20111.78 11474.69 14132.91 41227.96 38382.42Result 6042.34 5404.63 -1991.32 1060.98 0.00 4051.02 6465.61Unallocated 1918.65 55.99Income(net ofunallocatedexpenses)Operating 5969.67 6521.60ProfitIncome Tax 2499.48 2217.08Extraordinary 936.48 936.48 0.00Profit/Loss Net Profit 4406.67 4304.52OTHERINFORMATIONSegment 382211.31 427057.00 219555.40 216956.54 110480.29 188115.00 491286.42 455898.54AssetsUnallocated 2583.13 3984.33AssetsTotal Assets 493869.55 459882.87Segment 357682.71 404730.11 216439.91 215211.31 108709.24 184130.69 465413.38 435810.73LiabilitiesUnallocated 812.08LiabilitiesTotal 466225.46 435810.73Liabilities Part B : Secondary Rs. in crores Segments Geographic Domestic Operations Foreign Operations TotalSegments Year ended Year ended Year ended Year ended Year ended Year ended Particulars 31.03.2006 31.03.2005 31.03.2006 31.03.2005 31.03.2006 31.03.2005Revenue 38539.59 36987.61 2688.37 1394.81 41227.96 38382.42Assets 450323.25 429282.13 43546.30 30600.74 493869.55 459882.87 This information is provided by RNS The company news service from the London Stock Exchange