Federal Bank Ltd (The)
27 July 2007
THE FEDERAL BANK LIMITED
REGD. OFFICE: ALUVA
UNAUDITED (PROVISIONAL) FINANCIAL RESULTS
FOR THE FIRST QUARTER ENDED 30 JUNE 2007
(Rs. Crore)
PARTICULARS Quarter ended Year ended
30 June 2007 30 June 2006 31 March 2007
(Audited)
1. Interest Earned (a)+(b)+(c)+(d) 559.22 408.27 1817.35
(a) Interest/discount on advances/bills 404.58 278.64 1281.45
(b) Income on investments 137.42 115.11 482.49
(c) Interest on balances with RBI and other 11.81 13.69 43.81
inter bank funds
(d) Others 5.41 0.83 9.60
2. Other Income 100.48 54.25 286.69
A. TOTAL INCOME (1+2) 659.70 462.52 2104.04
3. Interest Expended 366.46 249.66 1084.96
4. Operating Expenses (e)+(f) 104.81 99.13 406.10
(e) Payments to and provisions for 63.12 64.91 260.45
employees
(f) Other operating expenses 41.69 34.22 145.65
B. TOTAL EXPENDITURE (3)+(4) (excluding 471.27 348.79 1491.06
Provisions and Contingencies)
C. OPERATING PROFIT (A-B) (Profit before 188.43 113.73 612.98
Provisions and Contingencies)
D. Other Provisions and Contingencies 66.99 55.92 214.75
(of which provision for NPAs) (39.97) (24.51) (89.29)
E. Provision for Taxes 54.50 17.63 105.50
(including Fringe Benefit Tax)
F. Net Profit/(Loss) (C-D-E) 66.94 40.18 292.73
5. Paid-up Equity Share Capital 85.60 85.60 85.60
6. Reserves excluding revaluation reserve (as
per Balance Sheet of the previous accounting
year) 1409.97
7. Analytical Ratios
(i) Percentage of shares held by Government Nil Nil NIL
of India
(ii) Capital Adequacy Ratio (%) 13.32 13.04 13.43
(iii) Earnings per Share -Basic (Rs.) *7.82 *4.69 34.20
(iv) (a) Amount of Gross Non-performing
Assets 440.84 549.20 450.80
(b) Amount of Net Non-performing
Assets 54.17 91.15 65.05
(c) % of Gross NPAs 2.92% 4.44 2.95
(d) % of Net NPAs 0.37% 0.76 0.44
8. Aggregate of Non-Promoter Shareholding:
- Number of Shares 856.03 lakh 856.03 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, non-performing 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. 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.
4. Out of the provision of Rs.19.32 crore made as on 31 March 2007 towards
fall in market value of the security based on the price of 3 April 2007, the
Bank still holds a provision of Rs.10.55 crore.
5. The results for the quarter ended 30 June 2007 include the figures of
the erstwhile The Ganesh Bank of Kurundwad Ltd which was amalgamated with the
Bank with effect from 2 September 2006.
6. The Bank had no investor complaints pending as on 31 March 2007. All
the 24 complaints received during the quarter were disposed of and there are no
pending complaints as on 30 June 2007.
7. Details of Customer complaints are given below.
No. of complaints pending at the beginning of the quarter 10
a.
b. No. of complaints received during the quarter 41
c. No. of complaints redressed during the quarter 33
d. No. of complaints pending at the end of the quarter 18
8. Details of awards passed by the Banking Ombudsman are given below.
a. No. of unimplemented Awards at the beginning of the quarter 1 (under appeal)
b. No. of Awards passed during the quarter 1
c. No. of Awards implemented during the quarter 1
d. No. of unimplemented Awards at the end of the quarter 1 (under appeal)
9. 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 26 July 2007.
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 2007 30 June 2006 31 March 2007
(Audited)
Segment Revenue:
Treasury operations 146.98 123.46 523.98
Banking operations (other than Treasury) 512.72 339.06 1580.06
Total 659.70 462.52 2104.04
Segment Results:
Treasury operations 0.67 -22.24 -0.97
Banking operations (other than Treasury) 120.77 80.05 399.20
Total Profit before Tax 121.44 57.81 398.23
Capital employed:
Treasury operations 185.13 171.00 158.71
Banking operations (other than Treasury) 1384.02 1119.16 1343.50
Total 1569.15 1290.16 1502.21
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
26 July 2007 CHAIRMAN
This information is provided by RNS
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