|
AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 1999
(Rupees in crores)
|
Sr. No.
|
Particulars
|
First Quarter ended
|
Year ended March 31,
1999
|
|
June 30, 1999
|
June 30, 1998
|
|
1.
|
Interest
Income |
198.92
|
102.42
|
544.05
|
|
2.
|
Other
Income |
23.28 |
18.74
|
89.03
|
|
3.
|
Total
Income |
222.20 |
121.16
|
633.08
|
|
4.
|
Interest
Expenditure |
160.83 |
76.32
|
425.51
|
|
5.
|
Other
Expenditure |
21.07 |
12.17
|
65.44
|
|
6.
|
Total
Expenditure |
181.90 |
88.49
|
490.95
|
|
7.
|
Gross
Profit before depreciation, provisions and contingencies |
40.30 |
32.67
|
142.13
|
|
8.
|
Depreciation on fixed assets |
4.09 |
4.00
|
17.53
|
|
9.
|
Profit before provisions and contingencies
|
36.21 |
28.67
|
124.60
|
|
10.
|
Provisions and contingencies |
15.96 |
11.93
|
61.24
|
|
11.
|
Net
Profit |
20.25 |
16.74
|
63.36
|
|
12.
|
Paid
up Equity Share Capital |
165.00 |
165.00
|
165.00
|
|
13.
|
Reserves
(excluding Revaluation Reserves) |
163.58 |
118.49
|
143.33
|
|
14.
|
Total
deposits |
5,954.39 |
3,677.84
|
6,072.94
|
|
15.
|
Total
advances |
1,943.90 |
1,213.42
|
2,110.12
|
|
16.
|
Credit-like corporate debt instruments |
1,504.66 |
431.09
|
1,277.48
|
|
Notes :
- Depreciation on Investments and
Provision on bad debts have been made as per guidelines of the
Reserve Bank of India.
- The Bank has identified and addressed
the risks to its operations arising out of the Year 2000 (Y2K)
problem. All critical internal technology systems in the Bank
are now Y2K ready. A business continuity plan has been prepared
to ensure that the mission-critical operations of the Bank will
be carried out and customer interests will be fully protected
in case of failure of utility services, etc. The expenditure for
addressing remaining Y2K issues for the current financial year
is estimated at Rs. 50 lakhs.
- The Members of the Company at their
Fifth Annual General Meeting held on June 14, 1999 have approved
the change of name of the Company from ‘ICICI Banking Corporation
Limited’ to ‘ICICI Bank Limited’ subject to compliance of other
legal formalities. The approval of the Registrar of Companies,
Ahmedabad, which has been applied for, is awaited. The change
of name to ‘ICICI Bank Limited’ does not suggest to any new line
of business being undertaken/to be undertaken by the Bank consequent
upon the change of name.
- The above results have been taken
on record by the Board of Directors of the Bank at its meeting
held on July 23, 1999.
Back
|