1st Quarter Results

THE FEDERAL BANK LIMITED

REGD.OFFICE: ALUVA

UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 30 JUNE 2012

 (Rs. in Crores)

Quarter ended

Year ended

30.06.2012

31.03.2012

30.06.2011

31.03.2012

(Unaudited)

(Audited)

(Unaudited)

(Audited)

1

Interest earned(a)+(b)+(c)+(d)

1,536.71

1,479.02

1,244.71

5,558.39

(a) Interest/discount on advances/bills

1,163.33

1,078.46

977.02

4,189.76

(b) Income on Investments

355.16

378.27

259.79

1,315.74

(c) Interest on balances with RBI and other

interbank funds

16.71

12.84

6.17

34.88

(d) Others

1.51

9.45

1.73

18.01

2

Other Income

124.33

160.55

116.90

532.34

3

TOTAL INCOME (1+2)

1,661.04

1,639.57

1,361.61

6,090.73

4

Interest expended

1,045.07

987.81

784.96

3,604.99

5

Operating Expenses (i)+(ii)

269.46

279.33

222.60

979.27

(i) Employee Cost

152.38

146.20

130.95

543.85

(ii) Other operating expenses

117.08

133.13

91.65

435.42

6

TOTAL EXPENDITURE (4)+(5)(excluding Provisions and Contingencies)

1,314.53

1,267.14

1,007.56

4,584.26

7

OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies)

346.51

372.43

354.05

1,506.47

8

Provisions (other than Tax) and Contingencies

62.78

15.51

134.02

336.97

9

Exceptional Items 

-

-

-

-

10

Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9)

283.73

356.92

220.03

1,169.50

11

Tax expense 

93.38

119.32

73.87

392.71

12

Net Profit (+)/Loss(-) from Ordinary Activities after tax (10-11)

190.35

237.60

146.16

776.79

13

Extraordinary items (net of tax expense) 

-

-

-

-

14

Net Profit (+)/Loss(-) for the period (12-13) 

190.35

237.60

146.16

776.79

15

Paid-up equity share capital(Face value Rs.10/- each)

171.05

171.05

171.05

171.05

16

Reserves excluding revaluation reserve

-

-

-

5,529.87

17

Analytical Ratios 

(i) Percentage of shares held by Government of India

 NIL

 NIL

 NIL

 NIL

(ii) Capital Adequacy ratio (%)

(a) Under Basel I

13.55

13.83

14.54

13.83

(b) Under Basel II

15.45

16.64

15.57

16.64

(iii) Earnings per Share (EPS) (in `)

(a) Basic and diluted EPS before Extra ordinary

Items

 11.13*

 13.89*

 8.54*

45.41

(b) Basic and diluted EPS after Extra ordinary

items

 11.13*

 13.89*

 8.54*

45.41

(iv) NPA Ratios

a) Gross NPA

1,408.86

1,300.83

1,299.89

1,300.83

b) Net NPA

236.16

199.00

235.77

199.00

c) % of Gross NPA

3.60

3.35

3.94

3.35

d) % of Net NPA

0.62

0.53

0.74

0.53

(v) Return on Asset (%)

 0.32*

 0.41*

 0.29*

1.41

18

Public Shareholding:

Number of Shares

1669.86 Lakh

1669.07 Lakh

1678.05 Lakh

1669.07 Lakh

Percentage of shareholding

97.63

97.58

98.10

97.58

19

Promoters and Promoter group share holding 

(a) Pledged/Encumbered

 Number of Shares

 NIL

 NIL

 NIL

 NIL

 Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

 NIL

 NIL

 NIL

 NIL

 Percentage of Shares (as a % of the total share capital of the company)

 NIL

 NIL

 NIL

 NIL

(b) Non-encumbered

 Number of Shares

 NIL

 NIL

 NIL

 NIL

 Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

 NIL

 NIL

 NIL

 NIL

Percentage of Shares (as a % of the total share capital of the company)

 NIL

 NIL

 NIL

 NIL

* Not annualised

 (Rs. in Crores)

 Quarter ended

 Year ended

30-Jun-12

31-Mar-12

30-Jun-11

31-Mar-12

(Unaudited)

(Audited)

(Unaudited)

(Audited)

Segment Revenue:

Treasury operations

423.32

453.01

283.67

1,530.30

Corporate/Wholesale Banking

634.99

530.98

481.54

1,992.10

Retail Banking

593.48

638.05

589.54

2,529.04

Other Banking operations

9.25

17.53

6.86

39.29

Unallocated

-

-

-

-

Total Revenue

1,661.04

1,639.57

1,361.61

6,090.73

Less: Inter Segment Revenue

-

-

-

-

Income from Operations

1,661.04

1,639.57

1,361.61

6,090.73

Segment Results (net of provisions):

Treasury operations

62.72

-22.00

-17.82

42.13

Corporate/Wholesale Banking

65.45

125.16

58.94

257.01

Retail Banking

149.61

248.98

174.08

850.39

Other Banking operations

5.95

4.78

4.83

19.97

Unallocated

-

-

-

-

Total Profit before tax

283.73

356.92

220.03

1,169.50

Capital employed:

Treasury operations

2,469.89

2,037.95

2,301.27

2,037.95

Corporate/Wholesale Banking

1,385.08

1,329.35

1,264.43

1,329.35

Retail Banking

1,296.35

1,221.07

1,263.73

1,221.07

Other Banking operations

65.51

557.58

32.54

557.58

Unallocated

679.85

560.38

392.85

560.38

Total

5,896.68

5,706.33

5,254.82

5,706.33

@

For the above segment reporting, the reportable segments are identified into Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations in compliance with the revised RBI guidelines. The Bank has only the Domestic geographic segment.

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. Further, provision for restructured advances has been made as per RBI guidelines.

2

Provisions for gratuity, pension (other than second option for pension by employees), leave encashment, bonus, income tax including deferred tax and other usual and necessary items have also been made. In accordance with the RBI letter no. DBOD.BP.BC.15896/21.04.018/2010-11 dated 08.04.2011, the net liability arising on exercise of second option by employees (other than separated/retired employees) is being amortized equally over a period of 5 years commencing from the year ended on 31.03.2011, and accordingly an amount of Rs.8.42 crores, being the proportionate liability in respect thereof, for the quarter ended 30.06.2012 have been charged to Profit and Loss Account and the balance amount of Rs.92.62 Crores yet to be written off is carried forward to be amortised in future periods as permitted by the said approval of RBI.

3

Number of Investor complaints/correspondence received and disposed off during the quarter ended 30 June 2012:a) Pending at the beginning of the quarter: NILb) Received during the quarter : 40c) Disposed off during the quarter : 40d) Pending at the end of the quarter : NIL

4

Figures for the previous periods have been recast/ regrouped wherever necessary.

5

The above financial results have been taken on record by the Audit Committee and approved by the Board of Directors at its meeting held on 01.08.2012 and 02.08.2012.

Kochi

 SHYAM SRINIVASAN

02 August 2012

 MANAGING DIRECTOR & CEO