|
News Release
January 22, 2002
Audited Financial Results for the nine months ended December
31, 2001
(Rupees in crores)
|
Sr.
No.
|
Particulars
|
Nine
months ended
|
Three
months ended
|
Year
ended Mar 31, 2001
|
|
Dec
31, 2001
|
Dec
31, 2000
|
Dec
31, 2001
|
Dec
31, 2000
|
|
1.
|
Interest earned
(a)+(b)+(c)+(d)
|
1474.59
|
873.00
|
541.59
|
302.10
|
1,242.13
|
|
|
a)
Interest/discount on advances/bills
|
580.19
|
404.50
|
195.33
|
154.65
|
570.91
|
|
|
b)
Income on investments
|
796.29
|
379.58
|
313.70
|
127.87
|
555.73
|
|
|
c)
Interest on balances with Reserve Bank of India and other
interbank funds
|
81.70
|
86.30
|
25.58
|
18.43
|
108.67
|
|
|
d)
Others
|
16.41
|
2.62
|
6.98
|
1.15
|
6.82
|
|
2.
|
Other Income
|
398.17
|
120.40
|
175.88
|
55.05
|
220.01
|
|
|
A) TOTAL INCOME
(1) + (2)
|
1872.76
|
993.40
|
717.47
|
357.15
|
1,462.14
|
|
3.
|
Interest Expended
|
1025.74
|
594.12
|
383.55
|
204.57
|
837.67
|
|
4.
|
Operating Expenses
(e) + (f)
|
439.00
|
212.61
|
161.53
|
86.32
|
334.30
|
|
|
e)
Payments to and provisions for employees
|
110.96
|
34.04
|
43.88
|
10.72
|
51.71
|
|
|
f)
Other operating expenses
|
328.04
|
178.57
|
117.65
|
75.60
|
282.59
|
|
|
B) TOTAL EXPENDITURE
(3)+ (4) (excluding provisions and contingencies)
|
1464.74
|
806.73
|
545.08
|
290.89
|
1,171.97
|
|
5.
|
OPERATING
PROFIT (A-B) (Profit before provisions and Contingencies)
|
408.02
|
186.67
|
172.39
|
66.26
|
290.17
|
|
6.
|
Other
provision and contingencies
|
117.15
|
40.16
|
70.24
|
3.66
|
63.65
|
|
7.
|
Provision for
taxes
|
89.45
|
35.81
|
32.13
|
22.10
|
65.42
|
|
8.
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Net Profit
(5-6-7)
|
201.42
|
110.70
|
70.02
|
40.50
|
161.10
|
|
9.
|
Paid-up equity
share capital
|
220.36
|
196.82
|
220.36
|
196.82
|
220.36
|
|
10.
|
Reserves excluding
revaluation reserves
|
1245.11
|
1063.39
|
1245.11
|
1063.39
|
1,092.26
|
|
11.
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Analytical Ratios
|
|
|
|
|
|
|
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(i)
Percentage of shares held by Government of India
|
..
|
..
|
..
|
..
|
..
|
|
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(ii) Capital
Adequacy Ratio
|
14.06%
|
14.61%
|
14.06%
|
14.61%
|
11.57%
|
|
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(iii) Earnings
per share for the relevant period (in Rs.) (basic and diluted)
|
9.14
|
5.62
|
3.18
|
2.06
|
8.13
|
|
12.
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Aggregate of
Non-Promoter Shareholding
|
|
|
|
|
|
|
|
·
No. of shares
|
11,89,62,731
|
7,43,13,080
|
11,89,62,731
|
7,43,13,080
|
11,68,16,231
|
|
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·
Percentage of shareholding
|
53.99
|
37.76
|
53.99
|
37.76
|
53.01
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Notes
- The results for nine months ended December
31, 2001 include the results of erstwhile Bank of Madura Limited on
their merger with us effective March 10, 2001. The results are not therefore
comparable with earlier periods.
- Provision for taxes has been arrived at
as per Accounting Standard 22.
- Net non-performing assets to customer
assets is 1.36% (Previous year 1.44 %)
- The Board of Directors has recommended
an interim dividend of Rs.2.00 per share (20%) for the year subject
to the approval of Reserve Bank of India
Reporting of Segment-Wise
Revenue, Results & Capital Employed
(Rupees in crores)
|
|
Particulars
|
Nine
months ended Dec
31, 2001
|
Quarter
ended Dec
31, 2001
|
|
1.
|
Segmental
Revenue
|
|
|
|
|
a.
Retail
|
1000.77
|
362.00
|
|
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b.
Corporate
|
1110.38
|
375.35
|
|
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c.
Treasury and Corporate Office
|
426.01
|
227.71
|
|
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TOTAL
|
2537.16
|
965.06
|
|
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Less : Inter
Segment Revenue
|
664.40
|
247.59
|
|
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Income from
Operations
|
1872.76
|
717.47
|
|
2.
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Segment Results
(Profit/Loss) before tax)
|
|
|
|
|
a. Retail
|
48.27
|
34.56
|
|
|
b. Corporate
|
142.50
|
35.30
|
|
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c. Treasury and Corporate Office
|
100.10
|
32.29
|
|
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TOTAL PROFIT
BEFORE TAX
|
290.87
|
102.15
|
|
3.
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Capital Employed
(i.e. Segment Assets ESegment Liabilities) (excluding inter-segmental
funds lent and borrowed)
|
|
|
|
|
a. Retail
|
(8652.64)
|
(8652.64)
|
|
|
b. Corporate
|
5197.35
|
5197.35
|
|
|
c. Treasury and Corporate Office
|
4820.65
|
4820.65
|
|
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TOTAL
|
1365.36
|
|
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Financial results under
US GAAP accounting
(Rupees in crores)
|
Particulars
|
Nine
months ended
|
Quarter
ended
|
Year
ended (audited)
|
|
Dec
31, 2001
|
Dec
31, 2000
|
Dec
31, 2001
|
Dec
31, 2000
|
Mar
31, 2001
|
|
Net income
under US GAAP
|
175.02
|
99.00
|
61.55
|
38.32
|
130.84
|
|
Reconciliation
between US GAAP and Accounting Standards followed in India
|
|
Profit under
Indian GAAP
|
201.42
|
110.70
|
70.02
|
40.50
|
161.10
|
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Deferred taxation
|
11.00
|
19.75
|
1.68
|
1.35
|
44.21
|
|
Loan impairment
|
(4.78)
|
(10.57)
|
14.02
|
(3.94)
|
(39.53)
|
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Mark to Market
impact on investments
|
(4.22)
|
(26.28)
|
4.77
|
2.00
|
(40.59)
|
|
ADR Issue expenditure
charged to P & L A/c
|
7.90
|
7.93
|
2.29
|
2.55
|
10.47
|
|
Premium Amortisation
on investments
|
(16.75)
|
(6.04)
|
(12.09)
|
(4.64)
|
(9.28)
|
|
Amortisation
of fair valuation on acquisition
|
(9.15)
|
..
|
(12.02)
|
..
|
..
|
|
Others
|
(10.40)
|
3.51
|
(7.12)
|
0.50
|
4.46
|
|
Profit under
US GAAP
|
175.02
|
99.00
|
61.55
|
38.32
|
130.84
|
|
The above financial results
have been taken on record by the Board of Directors of the Bank at its
meeting held on January, 22 2002.
Place: Mumbai
Date: January 22, 2002 |
H.N.Sinor
Managing Director &
Chief Executive Officer |
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