26th May 2009 07:00
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THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA
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AUDITED FINANCIAL RESULTS |
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FOR THE QUARTER & YEAR ENDED 31 MARCH 2009 |
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(Rs. Crore) |
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Quarter ended 31 March |
Year ended 31 March |
Consolidated figures for the year ended 31 March |
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2009 |
2008 |
2009 |
2008 |
2009 |
2008 |
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1. Interest earned (a)+(b)+(c)+(d) |
865.75 |
717.19 |
3315.38 |
2515.44 |
3315.38 |
2515.44 |
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(a) Interest/discount on advances/bills |
664.91 |
519.36 |
2564.25 |
1827.32 |
2564.25 |
1827.32 |
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(b) Income on Investments |
182.80 |
180.06 |
700.27 |
621.80 |
700.27 |
621.80 |
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(c) Interest on balances with RBI and other inter bank funds |
16.34 |
3.33 |
36.66 |
37.47 |
36.66 |
37.47 |
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(d) Others |
1.69 |
14.44 |
14.20 |
28.85 |
14.20 |
28.85 |
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2. Other Income |
150.54 |
124.30 |
515.77 |
394.72 |
516.01 |
394.72 |
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3. TOTAL INCOME (1+2) |
1016.28 |
841.79 |
3831.15 |
2910.16 |
3831.39 |
2910.16 |
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4. Interest expended |
544.84 |
444.17 |
1999.92 |
1647.43 |
1999.24 |
1646.83 |
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5. Operating Expenses (i)+(ii) |
152.52 |
136.18 |
571.45 |
468.61 |
572.29 |
470.24 |
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(i) Employee Cost |
76.86 |
73.65 |
317.45 |
271.23 |
320.73 |
272.93 |
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(ii) Other operating expenses |
75.66 |
62.53 |
254.00 |
197.38 |
251.56 |
197.31 |
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6. TOTAL EXPENDITURE (4)+(5) (excluding Provisions and Contingencies) |
697.36 |
580.35 |
2571.37 |
2116.04 |
2571.53 |
2117.07 |
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7. OPERATING PROFIT (3-6) |
318.92 |
261.44 |
1259.78 |
794.12 |
1259.86 |
793.09 |
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(Profit before Provisions and Contingencies) |
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8. Provisions (other than tax) and Contingencies |
87.53 |
137.66 |
466.77 |
293.97 |
495.29 |
300.90 |
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9. Exceptional Items |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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10. Profit (+)/Loss(-) from Ordinary Activities before tax (7-8-9) |
231.39 |
123.78 |
793.01 |
500.15 |
764.57 |
492.19 |
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11. Tax expense |
117.22 |
20.92 |
292.52 |
132.10 |
292.56 |
132.12 |
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12. Net Profit(+)/Loss(-) from Ordinary Activities after tax (10-11) |
114.17 |
102.86 |
500.49 |
368.05 |
472.01 |
360.07 |
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13. Extra ordinary items (net of tax expense) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
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14. Net Profit(+)/Loss(-) for the period (12-13) |
114.17 |
102.86 |
500.49 |
368.05 |
472.01 |
360.07 |
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15. Paid-up equity share capital (Face value Rs.10/-) |
171.03 |
171.03 |
171.03 |
171.03 |
171.03 |
171.03 |
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16. Reserves excluding revaluation reserve (as per Balance Sheet of the previous accounting year) |
4148.74 |
3748.30 |
4113.27 |
3741.32 |
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17. Analytical Ratios |
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(i) Percentage of shares held by Government of India |
Nil |
Nil |
Nil |
Nil |
Nil |
Nil |
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(ii) Capital Adequacy ratio (%) (a) Under Basel I (b) Under Basel II |
20.14 20.22 |
22.46 - |
20.14 20.22 |
22.46 - |
20.06 20.14 |
22.47 - |
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(iii) Earnings per Share (EPS) a) Basic and diluted EPS before Extra ordinary items (net of tax expense) b) Basic and diluted EPS after Extra ordinary items |
6.68* 6.68* |
6.95* 6.95* |
29.26 29.26 |
32.42 32.42 |
27.60 27.60 |
31.71 31.71 |
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(iv) NPA Ratios |
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a) Gross NPA |
589.54 |
468.59 |
589.54 |
468.59 |
589.54 |
468.59 |
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b) Net NPA |
68.12 |
43.20 |
68.12 |
43.20 |
68.12 |
43.20 |
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c) % of Gross NPA |
2.57 |
2.42 |
2.57 |
2.42 |
2.57 |
2.42 |
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d) % of Net NPA |
0.30 |
0.23 |
0.30 |
0.23 |
0.30 |
0.23 |
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(v) Return on Assets (%) |
0.31* |
0.33* |
1.48 |
1.34 |
1.39 |
1.31 |
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18. Public Shareholding: |
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- Number of Shares |
1615.57lakh |
1530.70 Lakh |
1615.57lakh |
1530.70 Lakh |
1615.57lakh |
1530.70 Lakh |
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- Percentage of shareholding |
94.51 |
89.55% |
94.51 |
89.55% |
94.51 |
89.55% |
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* Not annualised
Segment Information @
(Rs. crore)
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Quarter ended |
Year ended |
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31-Mar-09 |
31-Mar-08 |
31-Mar-09 |
31-Mar-08 |
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Segment Revenue: |
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Treasury operations |
229.52 |
207.17 |
803.87 |
703.24 |
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Corporate/Wholesale Banking |
425.10 |
136.85 |
943.39 |
533.60 |
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Retail Banking |
353.71 |
478.59 |
2040.38 |
1605.82 |
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Other Banking operations |
7.95 |
19.45 |
43.51 |
67.77 |
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Total Revenue |
1016.28 |
842.06 |
3831.15 |
2910.43 |
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Segment Results (net of provisions): |
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Treasury operations |
8.95 |
-48.27 |
41.87 |
-6.46 |
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Corporate/Wholesale Banking |
104.92 |
2.50 |
112.36 |
31.86 |
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Retail Banking |
113.98 |
165.86 |
655.68 |
466.10 |
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Other Banking operations |
3.54 |
3.69 |
-16.90 |
8.65 |
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Total Profit before Tax |
231.39 |
123.78 |
793.01 |
500.15 |
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Capital employed: |
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Treasury operations |
1469.44 |
1334.21 |
1469.44 |
1334.21 |
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Corporate/Wholesale Banking |
1068.44 |
845.89 |
1068.44 |
845.89 |
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Retail Banking |
1782.84 |
1736.23 |
1782.84 |
1736.23 |
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Other Banking operations |
5.16 |
9.37 |
5.16 |
9.37 |
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Total |
4325.88 |
3925.70 |
4325.88 |
3925.70 |
@ 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.
Provisions for gratuity, pension, leave encashment, wage arrears, bonus, income-tax including deferred tax, fringe benefit tax, restructured advances and other usual and necessary items have also been made.
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.
The Bank had no investor complaints pending as on 31 December 2008. All the 13 complaints received during the quarter were disposed off and there are no pending complaints as on 31 March 2009.
In terms of Agricultural Debt Waiver and Debt Relief Scheme 2008, framed by the Government of India, the Bank has received Rs.43.33 crore from Reserve Bank of India on account of loans to small and marginal farmers out of the amount eligible for debt waiver of Rs.106.26 crore.
The Bank has invested a sum of Rs.65 crore consisting of 6.5 crore equity shares of Rs.10/- each in IDBI Fortis Life Insurance Company Ltd making the total investment in that company to Rs.117 crore constituting 26% of total share capital of the company along with other shareholders, Industrial Development Bank of India Ltd and Fortis Insurance International N.V.
The Board of Directors have recommended a dividend of 50% on equity shares.
Consolidated financial statements include that of the fully owned subsidiary viz. Fedbank Financial Services Ltd.
Figures for the previous periods have been recast/regrouped wherever necessary.
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 22 May 2009.
Kochi M. VENUGOPALAN
22 May 2009 MANAGING DIRECTOR & CEO
Related Shares:
Federal Bk S