Federal Bank Ltd (The)
22 July 2006
THE FEDERAL BANK LTD
REG. OFFICE :ALUVA
PB NO 103. KERALA, INDIA
PIN 683 101 PHONE DIRECT STD 0484/ 622263, FAX 622672,2622283
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SD/F24/ /2006 SECRETARIAL DEPARTMENT
21 July 2006.
The London Stock Exchange,
10 Paternoster Square,
London, EC4M 7LS.
Dear Sir,
As required under the Listing Agreement entered into by us with your Stock
Exchange, we enclose the unaudited financial results of the Bank for the period
ended 30 June 2006, which was taken on record at the Bank's Board of Directors
Meeting held today.
Kindly acknowledge
Thanking you,
Yours faithfully,
COMPANY SECRETARY
THE FEDERAL BANK LIMITED
REGD. OFFICE: ALUVA
UNAUDITED (PROVISIONAL) FINANCIAL RESULTS
FOR THE FIRST QUARTER ENDED 30 JUNE 2006
(Rs. Crore)
PARTICULARS Quarter ended Year ended
30 June 2006 30 June 2005 31 March 2006
(Audited)
1. Interest Earned (a)+(b)+(c)+(d) 408.27 347.29 1436.53
(a) Interest/discount on advances/bills 278.64 204.98 916.00
(b) Income on investments 115.11 103.60 458.17
(c) Interest on balances with RBI and other 13.69 17.56 35.94
inter bank funds
(d) Others 0.83 21.15 26.42
2. Other Income 54.25 42.21 216.95
A. TOTAL INCOME (1+2) 462.52 389.50 1653.48
3. Interest Expended 249.66 203.12 836.73
4. Operating Expenses (e)+(f) 99.13 91.26 364.57
(e) Payments to and provisions for 64.91 59.35 228.36
employees
(f) Other operating expenses 34.22 31.91 136.21
B. TOTAL EXPENDITURE (3)+(4) (excluding 348.79 294.38 1201.30
Provisions and Contingencies)
C. OPERATING PROFIT (A-B) (Profit before 113.73 95.12 452.18
Provisions and Contingencies)
D. Other Provisions and Contingencies 55.92 33.19 171.41
(of which provision for NPAs) (24.51) (24.10) (95.58)
E. Provision for Taxes 17.63 13.25 55.56
F. Net Profit/(Loss) (C-D-E) 40.18 48.68 225.21
5. Paid-up Equity Share Capital 85.60 65.60 85.60
6. Reserves excluding revaluation reserve (as
per Balance Sheet of the previous accounting
year) 1157.30
7. Analytical Ratios
(i) Percentage of shares held by Government Nil Nil NIL
of India
(ii) Capital Adequacy Ratio (%) 13.04 11.98 13.75
(iii) Earnings per Share -Basic (Rs.) *4.69 *7.42 32.71
(iv) (a) Amount of Gross Non-performing
Assets 549.20 652.88 563.05
(b) Amount of Net Non-performing
Assets 91.15 170.77 111.60
(c) % of Gross NPAs 4.44 7.10 4.62
(d) % of Net NPAs 0.76 1.96 0.95
8. Aggregate of Non-Promoter Shareholding:
- Number of Shares 856.03 lakh 656.02 lakh 856.03 lakh
- Percentage of Shareholding 100 100 100
* Not annualised
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. The said
provisions have not been utilised for provision required for the above period.
2. Provisions for standard assets and also for gratuity, pension, bonus,
income-tax including deferred tax & fringe benefit tax and other usual and
necessary items have been made on estimated basis.
3. A sum of Rs.17.02 crore (previous period Rs.Nil) has been provided for
on equity investments due to fall in equity price.
4. 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.
5. The Bank had 2 investor complaints pending as on 31 March 2006 and has
received 66 complaints during the quarter. Out of this, 66 complaints were
disposed of and 2 are pending as on 30 June 2006.
6. The above financial results, subjected to limited review by statutory
central auditors, have been taken on record by the Board of Directors at its
meeting held on 21 July 2006.
Segment Information
Information is provided below on the Bank's operations, classified into two
business segments, viz, Treasury Operations (investment and trading in
securities, shares, debentures, etc) and Banking Operations (other than
Treasury).
(Rs. crore)
Quarter ended Year ended
30 June 2006 30 June 2005 31 March 2006
(Audited)
Segment Revenue:
Treasury operations 123.46 117.00 483.50
Banking operations (other than Treasury) 339.06 272.50 1169.98
Total 462.52 389.50 1653.48
Segment Results:
Treasury operations -22.24 6.68 37.06
Banking operations (other than Treasury) 80.05 55.25 243.71
Total Profit before Tax 57.81 61.93 280.77
Capital employed:
Treasury operations 171.00 57.22 139.96
Banking operations (other than Treasury) 1119.16 714.80 1110.04
Total 1290.16 772.02 1250.00
The Bank has only the Domestic geographic segment. Residual operations, being
of insignificant volume, have not been considered as a separate reportable
segment, but included in Banking Operations.
Kochi M. VENUGOPALAN
21 July 2006 CHAIRMAN
This information is provided by RNS
The company news service from the London Stock Exchange