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3rd Quarter Results

29th Jan 2010 07:00

RNS Number : 3285G

Federal Bank Ltd (The)

29 January 2010

THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA

	UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER/NINE MONTHS ENDED 31 DECEMBER 2009
					(Rs.Crore)
	Quarter ended 31 December		Nine months period ended 31 December		Year ended 31 March
	2009 (Unaudited)	2008 (Unaudited)	2009 (Unaudited)	2008 (Unaudited)	2009 (Audited)
1. Interest earned (a)+(b)+(c)+(d)	944.64	876.42	2720.09	2449.64	3315.38
(a) Interest/discount on advances/bills	742.10	700.32	2106.24	1899.34	2564.25
(b) Income on Investments	198.37	166.50	588.72	517.47	700.27
(c) Interest on balances with RBI and other inter bank funds	3.81	6.84	24.00	20.32	36.66
(d) Others	0.36	2.76	1.13	12.51	14.20
2. Other Income	116.48	164.81	400.32	365.23	515.77
3. TOTAL INCOME (1)+(2)	1061.12	1041.23	3120.41	2814.87	3831.15
4. Interest expended	563.53	491.83	1718.95	1455.08	1999.92
5. Operating Expenses (i)+(ii)	166.05	164.99	488.40	418.93	571.45
(i) Employee Cost	87.43	102.95	269.59	240.59	317.45
(ii) Other operating expenses	78.62	62.04	218.81	178.34	254.00
6. TOTAL EXPENDITURE (4)+(5) (excluding Provisions and Contingencies)	729.58	656.82	2207.35	1874.01	2571.37
7. OPERATING PROFIT (3)-(6)	331.54	384.41	913.06	940.86	1259.78
(Profit before Provisions and Contingencies)
8. Provisions (other than tax) and Contingencies	105.31	49.97	307.40	379.24	466.77
9. Exceptional Items	Nil	Nil	Nil	Nil	Nil
10. Profit from Ordinary Activities before tax (7)-(8)-(9)	226.23	334.44	605.66	561.62	793.01
11. Tax expense	115.98	130.55	257.96	175.30	292.52
12. Net Profit from Ordinary Activities after tax (10)-(11)	110.25	203.89	347.70	386.32	500.49
13. Extra ordinary items (net of tax expense)	Nil	Nil	Nil	Nil	Nil
14. Net Profit for the period (12)-(13)	110.25	203.89	347.70	386.32	500.49
15. Paid-up equity share capital (Face value Rs.10/-)	171.03	171.03	171.03	171.03	171.03
16. Reserves excluding revaluation reserve (as per Balance Sheet of the previous accounting year)					4148.74


17. Analytical Ratios
(i) Percentage of shares held by Government of India	Nil	Nil	Nil	Nil	Nil
(ii) Capital Adequacy ratio (%) a) As per Basel I b) As per Basel II	17.76 18.50	19.85	17.76 18.50	19.85	20.14 20.22
(iii) Earnings per Share (EPS) a) Basic and diluted EPS before Extra ordinary items (net of tax expense) (Rs) b) Basic and diluted EPS after Extra ordinary items (Rs)	6.45* 6.45*	11.92* 11.92*	20.33* 20.33*	22.59* 22.59*	29.26 29.26
(iv) NPA Ratios
a) Gross NPA	790.72	625.72	790.72	625.72	589.54
Net NPA	146.85	70.61	146.85	70.61	68.12
b) % of Gross NPA	2.97	2.83	2.97	2.83	2.57
c) % of Net NPA	0.56	0.33	0.56	0.33	0.30
d) Return on Assets (%)	0.27*	0.62*	0.88*	1.17*	1.48
18. Public Shareholding:
- Number of Shares	1660.52lakh	1614.31lakh	1660.52lakh	1614.31lakh	1615.57 Lakh
- Percentage of shareholding	97.14	94.44	97.14	94.44	94.51
19. Promoters and Promoter Group Shareholding	Nil	Nil	Nil	Nil	Nil

* Not annualised

Segment Information @

(Rs. crore)

	Quarter ended		Nine months period ended		Year ended
	31-Dec-09	31-Dec-08	31-Dec-09	31-Dec-08	31-Mar-09
Segment Revenue:
Treasury operations	219.76	232.29	710.82	574.35	803.87
Corporate/Wholesale Banking	251.67	132.70	814.55	518.29	943.39
Retail Banking	585.61	665.95	1575.94	1686.67	2040.38
Other Banking operations	4.08	10.29	19.10	35.56	43.51
Total Revenue	1061.12	1041.23	3120.41	2814.87	3831.15
Segment Results (net of provisions):
Treasury operations	20.24	151.69	143.63	32.92	41.87
Corporate/Wholesale Banking	59.38	-50.03	137.15	7.44	112.36
Retail Banking	143.24	238.59	309.13	541.70	655.68
Other Banking operations	3.37	-5.81	15.75	-20.44	-16.90
Total Profit before Tax	226.23	334.44	605.66	561.62	793.01
Capital employed:
Treasury operations	1496.25	1307.21	1496.25	1307.21	1469.44
Corporate/Wholesale Banking	1385.41	1100.88	1385.41	1100.88	1068.44
Retail Banking	1789.76	1899.07	1789.76	1899.07	1782.84
Other Banking operations	2.14	4.86	2.14	4.86	5.16
Total	4673.56	4312.02	4673.56	4312.02	4325.88

@ 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

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.

Provisions for gratuity, pension, bonus, wage arrears, income-tax including deferred tax and other usual and necessary items have been made on estimated basis.

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.

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

The above financial results, subjected to limited review by Statutory Central Auditors, have been taken on record by the Audit Committee and approved by the Board of Directors at its meeting held on 28 January 2010.

Details of investor complaints received and disposed off

	Number
Pending at the beginning of the Quarter	--
Received during the Quarter	62
Redressed during the Quarter	62
Pending at the end of the Quarter	--

Kochi M. VENUGOPALAN

28 January 2010 MANAGING DIRECTOR & CEO

This information is provided by RNS

The company news service from the London Stock Exchange

END

QRTEAKFNAALEEEF

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