Final Results

THE FEDERAL BANK LIMITED

REGD.OFFICE: P.B.NO. 103, FEDERAL TOWERS, ALUVA-683101.

AUDITED FINANCIAL RESULTS

FOR THE QUARTER AND YEAR ENDED 31st MARCH 2013

 (` in Lakhs)

Particulars

Quarter ended

Year ended

Consolidated figures for the year ended

31.03.2013

31.12.2012

31.03.2012

31.03.2013

31.03.2012

31.03.2013

31.03.2012

Audited(Refer note 9 below)

Unaudited

Audited

Audited

Audited

Audited

Audited

1

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

158346

152177

147902

616757

555839

624632

558172

(a) Interest/discount on advances/bills

116842

115091

107846

463566

418976

471442

421309

(b) Income on Investments

39703

35823

37827

146460

131574

146460

131574

(c) Interest on balances with Reserve Bank of India and other inter bank funds

1539

1148

1284

5636

3488

5635

3488

(d) Others

262

115

945

1095

1801

1095

1801

2

Other Income

19685

20385

16055

66444

53234

66464

53220

3

TOTAL INCOME (1+2)

178031

172562

163957

683201

609073

691096

611392

4

Interest expended

110370

102442

98781

419291

360499

420894

360667

5

Operating Expenses (i)+(ii)

30714

30726

27933

117954

97927

122359

100806

(i) Employees Cost

15115

16349

14620

62646

54385

64771

55945

(ii) Other operating expenses

15599

14377

13313

55308

43542

57588

44861

6

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

141084

133168

126714

537245

458426

543253

461473

7

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

36947

39394

37243

145956

150647

147843

149919

8

Provisions (other than Tax) and Contingencies

9818

7439

1551

26580

33697

26542

35266

9

Exceptional Items 

-

-

-

-

-

-

-

10

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

27129

31955

35692

119376

116950

121300

114653

11

Tax expense

4935

10877

11932

35559

39271

36035

39280

12

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

22194

21078

23760

83817

77679

85266

75373

13

Extraordinary items (net of tax expense) 

-

-

-

-

-

-

-

14

Net Profit for the period (12-13) 

22194

21078

23760

83817

77679

85266

75373

15

Paid-up Equity Share Capital(Face value ` 10/- each)

17106

17105

17105

17106

17105

17106

17105

16

Reserves excluding Revaluation Reserve

-

-

-

618839

552987

608885

541583

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

13.09

13.17

13.83

13.09

13.83

 (b) Under Basel II

14.73

14.92

16.64

14.73

16.64

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

 (a) Basic and diluted EPS before Extra ordinary Items

12.97*

12.32*

13.89*

49.00

45.41

49.85

44.06

 (b) Basic and diluted EPS after Extra ordinary items

12.97*

12.32*

13.89*

49.00

45.41

49.85

44.06

(iv) NPA Ratios

 a) Gross NPA

155401

156398

130083

155401

130083

b) Net NPA

43194

36204

19900

43194

19900

 c) % of Gross NPA

3.44

3.85

3.35

3.44

3.35

d) % of Net NPA

0.98

0.92

0.53

0.98

0.53

(v)Return on Asset (%)

 0.33*

 0.34*

 0.41*

1.35

1.41

18

Public Shareholding:

 Number of Shares (in Lakhs)

1676.88

1674.28

1669.07

1676.88

1669.07

Percentage of shareholding #

98.03

97.88

97.58

98.03

97.58

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 annualised

# excludes shares held by custodian against which Global Depository Receipts have been issued.

Segment Information @

(` in Lakhs)

Particulars

Quarter ended

 Year ended

31.03.2013

31.12.2012

31.03.2012

31.03.2013

31.03.2012

Audited

Unaudited

Audited

Audited

Audited

Segment Revenue:

Treasury

49628

47521

45301

181360

153030

Corporate/Wholesale Banking

50624

48825

53098

216973

199210

Retail Banking

76963

75146

63805

280788

252904

Other Banking operations

816

1070

1753

4080

3929

Unallocated

-

-

-

-

-

Total Revenue

178031

172562

163957

683201

609073

Less: Inter Segment Revenue

-

-

-

-

-

Income from Operations

178031

172562

163957

683201

609073

Segment Results (net of provisions):

Treasury

7130

11461

(2,200)

28761

4213

Corporate/Wholesale Banking

583

7238

12516

25470

25701

Retail Banking

18264

12706

24898

61830

85039

Other Banking operations

1152

550

478

3315

1997

Unallocated

-

-

-

-

-

Profit before tax

27129

31955

35692

119376

116950

Capital employed:

Treasury

246148

278609

203795

246148

203795

Corporate/Wholesale Banking

163289

129975

132935

163289

132935

Retail Banking

168548

142174

122107

168548

122107

Other Banking operations

6928

20469

55758

6928

55758

Unallocated

51553

61031

56038

51553

56038

Total

636466

632258

570633

636466

570633

@

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

Statement of Assets and Liabilities as on 31st March, 2013 is given below:

Particulars

As at 31.03.2013 Audited

As at 31.03.2012 Audited

CAPITAL AND LIABILITIES

Capital

17106

17105

Reserves and Surplus

619360

553528

Deposits

5761486

4893712

Borrowings

518699

424103

Other Liabilities and Provisions

188306

174230

Total

7104957

6062678

ASSETS

Cash and Balances with Reserve Bank of India

274250

242415

Balance with Banks and Money at Call and Short Notice

97749

110840

Investments

2115459

1740249

Advances

4409670

3775599

Fixed Assets

39748

32614

Other Assets

168081

160961

Total

7104957

6062678

2

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 27th April, 2013.

3

As a prudent policy, the Bank holds provisions for Non Performing Assets over and above the minimum required under the Reserve Bank of India (RBI) norms. Further, provision for restructured advances has been made as per RBI guidelines.

4

The Pension 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 `33.68 Crore, being the proportionate liability in respect thereof, for the year ended 31.03.2013 (` 8.42 Crore for the quarter ended 31.03.2013) have been charged to Profit and Loss Account and the balance amount of ` 67.36 Crore yet to be written off is carried forward to be amortised in future periods as permitted by the Reserve Bank of India vide letter no. DBOD.BP.BC.15896/21.04.018/2010-11 dated 08.04.2011.

5

Number of Investor complaints received and disposed off during the quarter ended 31st March 2013:a) Pending at the beginning of the quarter : NILb) Received during the quarter : 35c) Disposed off during the quater : 33d) Pending at the end of the quarter : 2

6

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 2012-13 (previous year 90% i.e 9 per share) subject to the approval of the members in the ensuing Annual General Meeting.

7

During the quarter and year ended 31 March 2013, the Bank allotted 11631 Shares pursuant to the exercise of stock options by certain employees.

8

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

9

The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.

10

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

Kochi

 SHYAM SRINIVASAN

27th April 2013

 MANAGING DIRECTOR & CEO