Annual Information Update

THE FEDERAL BANK LIMITED

REGD.OFFICE: ALUVA

AUDITED FINANCIAL RESULTS

FOR THE QUARTER& YEAR ENDED 31 MARCH 2012

 (` in Crores)

Quarter ended

Year ended

Consolidated figures for the year ended

31.03.2012

31.12.2011

31.03.2011

31.03.2012

31.03.2011

31.03.2012

31.03.2011

(Audited)

(Unaudited)

(Audited)

(Audited)

(Audited)

(Audited)

(Audited)

1

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

1,479.02

1,466.83

1,100.02

5,558.39

4,052.03

5,581.72

4,052.03

(a) Interest/discount on advances/bills

1,078.46

1,084.23

857.12

4,189.76

3,168.80

4,213.09

3,168.80

(b) Income on Investments

378.27

367.44

238.76

1,315.74

868.03

1,315.74

868.03

(c)Interest on balances with RBI and other inter bank funds

12.84

10.18

2.65

34.88

10.60

34.88

10.60

(d) Others

9.45

4.98

1.49

18.01

4.60

18.01

4.60

2

Other Income

160.55

137.93

141.19

532.34

516.81

532.20

518.33

3

TOTAL INCOME (1+2)

1,639.57

1,604.76

1,241.21

6,090.73

4,568.84

6,113.92

4,570.36

4

Interest expended

987.81

938.80

652.38

3,604.99

2,305.45

3,606.67

2,304.49

5

Operating Expenses (i)+(ii)

279.33

247.24

238.61

979.27

836.14

1,008.06

836.54

(i) Employee Cost

146.20

138.45

135.03

543.85

480.41

559.45

485.69

(ii) Other operating expenses

133.13

108.79

103.58

435.42

355.73

448.61

350.85

6

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

1,267.14

1,186.04

890.99

4,584.26

3,141.59

4,614.73

3,141.03

7

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

372.43

418.72

350.22

1,506.47

1,427.25

1,499.19

1,429.33

8

Provisions (other than Tax) and Contingencies

15.51

115.25

79.42

336.97

525.44

352.66

557.45

9

Exceptional Items 

-

-

-

-

-

-

-

10

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

356.92

303.47

270.80

1,169.50

901.81

1,146.53

871.88

11

Tax expense 

119.32

101.60

99.08

392.71

314.73

392.80

315.42

12

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

237.60

201.87

171.72

776.79

587.08

753.73

556.46

13

Extraordinary items (net of tax expense) 

-

-

-

-

-

-

-

14

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

237.60

201.87

171.72

776.79

587.08

753.73

556.46

15

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

171.05

171.05

171.05

171.05

171.05

171.05

171.05

16

Reserves excluding revaluation reserve

-

-

-

5,529.87

4,931.98

5,415.83

4,841.02

17

Analytical Ratios 

(i) Percentage of shares held by Government of India

 NIL

 NIL

 NIL

 NIL

 NIL

 NIL

 NIL

(ii) Capital Adequacy ratio (%)

(a) Under Basel I

13.83

13.71

15.39

13.83

15.39

(b) Under Basel II

16.64

15.91

16.79

16.64

16.79

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

(a) Basic and diluted EPS before Extra ordinary Items

 13.89*

 11.80*

 10.04*

45.41

34.32

44.06

32.53

(b) Basic and diluted EPS after Extra ordinary items

 13.89*

 11.80*

 10.04*

45.41

34.32

44.06

32.53

(iv) NPA Ratios

a) Gross NPA

1,300.83

1,363.44

1,148.33

1,300.83

1,148.33

b) Net NPA

199.00

243.64

190.69

199.00

190.69

c) % of Gross NPA

3.35

3.97

3.49

3.35

3.49

d) % of Net NPA

0.53

0.74

0.60

0.53

0.60

(v)Return on Asset (%)

 0.41*

 0.35*

 0.37*

1.41

1.34

18

Public Shareholding:

 Number of Shares

1669.07Lakh

1671.94Lakh

1676.75Lakh

1669.07Lakh

1676.75Lakh

 Percentage of shareholding

97.58

97.75

98.08

97.58

98.08

19

Promoters and Promoter group share holding 

(a)Pledged/Encumbered

Number of Shares

 NIL

 NIL

 NIL

 NIL

 NIL

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

 NIL

 NIL

 NIL

 NIL

 NIL

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

 NIL

 NIL

 NIL

 NIL

 NIL

(b)Non-encumbered

Number of Shares

 NIL

 NIL

 NIL

 NIL

 NIL

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

 NIL

 NIL

 NIL

 NIL

 NIL

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

 NIL

 NIL

 NIL

 NIL

 NIL

* Not annualized

Statement of Assets and Liabilities

 (` in Crores)

Particulars

 As at 31.03.2012 (Audited)

 As at 31.03.2011 (Audited)

CAPITAL AND LIABILITIES

Capital

171.05

171.05

Reserve & Surplus

5,535.28

4,937.61

Deposits

48,937.12

43,014.78

Borrowings

4,241.03

1,888.36

Other Liabilities and Provisions

1,742.30

1,444.56

Total

60,626.78

51,456.36

ASSETS

Cash and balance with Reserve Bank of India

2,424.15

2,935.05

Balance with Banks and Money at Call and Short Notice

1,108.40

813.25

Investments

17,402.49

14,537.68

Advances

37,755.99

31,953.23

Fixed Assets

326.14

289.82

Other Assets

1,609.61

927.33

Total

60,626.78

51,456.36

Segment Information @

 (` in Crores)

 Quarter ended

 Year ended

31-Mar-12

31-Dec-11

31-Mar-11

31-Mar-12

31-Mar-11

(Audited)

(Unaudited)

(Audited)

(Audited)

(Audited)

Segment Revenue:

Treasury operations

453.01

426.14

251.63

1,530.30

932.00

Corporate/Wholesale Banking

530.98

507.08

357.94

1,992.10

1,461.07

Retail Banking

638.05

664.06

628.50

2,529.04

2,157.73

Other Banking operations

17.53

7.48

3.14

39.29

18.04

Unallocated

-

-

-

-

-

Total Revenue

1,639.57

1,604.76

1,241.21

6,090.73

4,568.84

Less: Inter Segment Revenue

-

-

-

-

-

Income from Operations

1,639.57

1,604.76

1,241.21

6,090.73

4,568.84

Segment Results (net of provisions):

Treasury operations

-22.00

69.38

8.96

42.13

83.86

Corporate/Wholesale Banking

125.16

30.88

28.47

257.01

222.82

Retail Banking

248.98

198.00

232.09

850.39

585.51

Other Banking operations

4.78

5.21

1.28

19.97

9.62

Unallocated

-

-

-

-

-

Total Profit before tax

356.92

303.47

270.80

1,169.50

901.81

Capital employed:

Treasury operations

2,037.95

2,705.11

1,887.85

2,037.95

1,887.85

Corporate/Wholesale Banking

1,329.35

1,068.61

1,277.83

1,329.35

1,277.83

Retail Banking

1,221.07

1,090.08

1,247.22

1,221.07

1,247.22

Other Banking operations

557.58

269.08

447.91

557.58

447.91

Unallocated

560.38

514.98

247.85

560.38

247.85

Total

5,706.33

5,647.86

5,108.66

5,706.33

5,108.66

@

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.15896/21.01.018/2010-11 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.33.68 crores, being the proportionate liability in respect thereof, for the year ended 31.03.2012 (Rs.8.42 crores for the quarter ended 31.03.2012) have been charged to Profit and Loss Account and the balance amount of Rs.101.04 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 31 March 2012:a) Pending at the beginning of the quarter: NILb) Received during the quarter : 122c) Disposed off during the quarter : 122d) Pending at the end of the quarter : NIL

4

The Board of Directors have recommended a dividend of 90% i.e. Rs.9 per share on face value of Rs.10/- each for the year 2011-12 (Previous year 85% i.e Rs.8.50 per share) subject to the approval of the members in the ensuing Annual General Meeting.

5

Consolidated financial statements include that of the fully owned subsidiary, Fedbank Financial Services Ltd and associate, IDBI Federal Life Insurance Company Ltd.

6

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

7

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 11.05.2012.

Kochi

 SHYAM SRINIVASAN

11 May 2012

 MANAGING DIRECTOR & CEO