AUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED DECEMBER 31, 1999
(Rupees in crores)
| Sr. No. | Particulars | Third Quarter ended | Nine-month period ended | Year ended March 31, 1999 | ||
|---|---|---|---|---|---|---|
| Dec. 31, 1999 | Dec. 31, 1998 | Dec. 31, 1999 | Dec. 31, 1998 | |||
| 1. | Interest Income | 205.50 | 143.57 | 593.08 | 377.73 | 544.05 |
| 2. | Other Income | 49.15 | 26.19 | 104.14 | 66.67 | 89.03 |
| 3. | Total Income | 254.65 | 169.76 | 697.22 | 444.40 | 633.08 |
| 4. | Interest Expenditure | 164.70 | 115.33 | 480.78 | 296.93 | 425.51 |
| 5. | Other Expenditure | 28.15 | 16.82 | 71.48 | 43.60 | 65.44 |
| 6. | Total Expenditure | 192.85 | 132.15 | 552.26 | 340.53 | 490.95 |
| 7. | Gross Profit before depreciation, provisions and contingencies | 61.80 | 37.61 | 144.96 | 103.87 | 142.13 |
| 8. | Depreciation on fixed assets | 5.29 | 4.45 | 14.34 | 12.63 | 17.53 |
| 9. | Profit before provisions and contingencies | 56.51 | 33.16 | 130.62 | 91.24 | 124.60 |
| 10. | Provisions and contingencies | 28.25 | 19.12 | 58.26 | 47.14 | 61.24 |
| 11. | Net Profit | 28.26 | 14.04 | 72.36 | 44.10 | 63.36 |
| 12. | Paid up Equity Share Capital | 165.00 | 165.00 | 165.00 | 165.00 | 165.00 |
| 13. | Reserves (excluding Revaluation Reserves) | 215.69 | 145.85 | 215.69 | 145.85 | 143.33 |
| 14. | Total deposits | 8,500.17 | 4,642.32 | 8,500.17 | 4,642.32 | 6,072.94 |
| 15. | Total advances | 2,944.48 | 1,668.15 | 2,944.48 | 1,668.15 | 2,110.12 |
| 16. | Credit-like corporate debt instruments | 1,113.44 | 1,012.07 | 1,113.44 | 1,012.07 | 1,277.48 |
Notes :
- Depreciation on Investments and Provision on bad debts have been made as per Reserve Bank of India guidelines.
- The Bank had ensured that all critical technological items in use including servers, desktops, office automation applications, network equipments, etc., were Y2K ready. The Bank did not face any Y2K related problems during the transition to January 1, 2000.
- The above results have been taken on record by the Board of Directors of the Bank at its meeting held on January 19, 2000.
