REG - Federal Bank Ltd The - 1st Quarter Results

Fri Aug 26, 2011 8:30am EDT

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RNS Number : 1284N
Federal Bank Ltd (The)
26 August 2011
 

THE FEDERAL BANK LIMITED

REGD.OFFICE: ALUVA







UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 30 JUNE 2011





(` in Crores)


Quarter ended
 30 June

Year ended 31 March




2011

2010

2011




(Unaudited)

(Unaudited)

(Audited)

1

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

      1,244.71

          951.79

         4,052.03


   (a) Interest/discount on advances/bills

         977.02

          744.69

         3,168.80


   (b) Income on Investments

         259.79

          204.07

            868.03


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

             6.17

              2.11

              10.60


  (d) Others

             1.73

              0.92

                4.60

2

Other Income

         116.90

          109.89

            516.81

3

TOTAL INCOME (1+2)

      1,361.61

     1,061.68

       4,568.84

4

Interest expended

         784.96

          538.47

         2,305.45

5

Operating Expenses (i)+(ii)

         222.60

          187.87

            836.14


  (i)  Employee Cost

         130.95

          104.75

            480.41


  (ii)  Other operating expenses

           91.65

            83.12

            355.73

6

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

     1,007.56

        726.34

       3,141.59

7

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

          354.05

        335.34

       1,427.25

8

Provisions (other than Tax) and Contingencies

         134.02

          133.38

            525.44

9

Exceptional Items 

                -  

                  -  

                    -  

10

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

         220.03

          201.96

            901.81

11

Tax expense 

           73.87

            70.10

            314.73

12

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

          146.16

        131.86

           587.08

13

Extraordinary items (net of tax expense) 

          -  

      -  

       -  

14

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

        146.16

        131.86

           587.08

15

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

            171.05

          171.03

            171.05

16

Reserves excluding revaluation reserve

         4,931.98

17

Analytical Ratios 





    (i)  Percentage of shares held by Government of India

 NIL

 NIL

 NIL


    (ii) Capital Adequacy ratio (%)





             (a)  Under Basel I

           14.54

            17.27

              15.39


             (b)  Under Basel II

           15.57

            17.89

              16.79


   (iii) Earning per Share (EPS)





(a)   Basic and diluted EPS before Extra ordinary Items

8.54*

7.71*

34.32


           (b) Basic and diluted EPS after Extra ordinary items

8.54*

7.71*

34.32


   (iv) NPA Ratios





          a)  Gross NPA

1299.89

1043.82

1148.33


          b)  Net NPA

235.77

200.67

190.69


          c)  % of Gross NPA

3.94

3.73

3.49


          d) % of Net NPA

             0.74

              0.74

0.60


(v)Return on Asset (%)

 0.29*

0.31*

1.34

18

Public Shareholding:





 Number of Shares

1678.05Lakhs

1674.04Lakhs

1676.75Lakhs


 Percentage of shareholding

           98.10

97.93

98.08

19

Promoters and Promoter group share holding 

 NIL

 NIL

 NIL

* Not annualised




Segment Information  @







 (` in Crores)


 Quarter ended

 Year ended

30-Jun-11

30-Jun-10

31-Mar-11



(Unaudited)

(Unaudited)

(Audited)

Segment Revenue:





Treasury operations

283.67

222.38

932.00


Corporate/Wholesale Banking

481.54

322.04

1,461.07


Retail Banking

589.54

513.61

2,157.73


Other Banking operations

6.86

3.65

18.04


Unallocated

-  

 -  

-  


Total Revenue

1,361.61

1,061.68

4,568.84

Segment Results (net of provisions):





Treasury operations

-17.82

23.34

83.86


Corporate/Wholesale Banking

         58.94

42.09

222.82


Retail Banking

       174.08

134.17

585.51


Other Banking operations

           4.83

2.36

9.62


Unallocated

-  

-  

-  


Total Profit before tax

       220.03

201.96

901.81

Capital employed:





Treasury operations

2,301.27

1,456.22

1,887.85


Corporate/Wholesale Banking

1,264.43

1,495.78

 1,277.83


Retail Banking

1,263.73

1,869.00

1,247.22


Other Banking operations

32.54

1.30

447.91


Unallocated

392.85

-  

247.85


Total

5,254.82

4,822.30

5,108.66

@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. Further, provision for restructured advances has been made as per RBI guidelines.






2

Provisions for gratuity, pension (other than second option for pension by employees), leave encashment,  bonus, income tax including deferred tax and other usual and necessary items have also been made. In accordance with the RBI letter no. DBOD.BP.BC.15896/21.01.018/2010-11 dated 08.04.2011, the net liability arising on exercise of second option by employees (other than separated/retired employees) is being amortized equally over a period of 5 years commencing from the year ended on 31.03.2011, and a sum of Rs. 8.43 crores, being the proportionate liability in respect thereof,  relatable to the quarter ended 30.06.2011 has been charged to  Profit and Loss Account and the balance amount of Rs.126.29 Crores yet to be written off is carried forward to be amortised in future periods as permitted by the said approval of RBI.






3

During the quarter, the bank has granted 34,68,420 options under Employees Stock Option Scheme with a vesting period of 4 years commencing from the year 2012.






4

Number of Investor complaints/correspondence received and disposed off during the quarter ended 30 June 2011:
a) Pending at the beginning of the quarter:      NIL
b) Received during the quarter                 :       15
c) Disposed off during the quarter            :       15
d) Pending at the end of the quarter         :     NIL






5

Figures for the previous periods have been recast/regrouped wherever necessary.






6

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 29.07.2011.






Kochi

 SHYAM SRINIVASAN

29 July 2011

 MANAGING DIRECTOR & CEO

 


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