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Half-yearly results

2nd Nov 2009 08:29

RNS Number : 7480B

Federal Bank Ltd (The)

02 November 2009

-THE FEDERAL BANK LIMITED REGD. OFFICE: ALUVA

	UNAUDITED FINANCIAL RESULTS
	FOR THE QUARTER ENDED 30 SEPTEMBER 2009
						(Rs. Crore)
		Quarter ended 30 September		Half Year ended 30 September		Year ended 31 March 2009
		2009 (Unaudited)	2008 (Unaudited)	2009 (Unaudited)	2008 (Unaudited)	(Audited)
1. Interest earned (a)+(b)+(c)+(d)		901.07	828.10	1775.45	1573.22	3315.38
(a) Interest/discount on advances/bills		707.99	649.02	1364.14	1199.02	2564.25
(b) Income on Investments		185.53	170.20	390.35	350.97	700.27
(c) Interest on balances with RBI and other inter bank funds		7.08	6.82	20.19	13.48	36.66
(d) Others		0.47	2.06	0.77	9.75	14.20
2. Other Income		136.43	104.21	283.84	200.42	515.77
3. TOTAL INCOME (1+2)		1037.50	932.31	2059.29	1773.64	3831.15
4. Interest expended		571.12	496.32	1155.42	963.25	1999.92
5. Operating Expenses (i)+(ii)		163.14	133.06	322.35	253.94	571.45
(i) Employee Cost		89.75	71.52	182.16	137.64	317.45
(ii) Other operating expenses		73.39	61.54	140.19	116.30	254.00
6. TOTAL EXPENDITURE (4)+(5) (excluding Provisions and Contingencies)		734.26	629.38	1477.77	1217.19	2571.37
7. OPERATING PROFIT (3-6)		303.24	302.93	581.52	556.45	1259.78
(Profit before Provisions and Contingencies)
8. Provisions (other than tax) and Contingencies		150.14	156.87	202.09	329.27	466.77
9. Exceptional Items		Nil	Nil	Nil	Nil	Nil
10. Profit (+)/Loss(-) from Ordinary Activities before tax (7-8-9)		153.10	146.06	379.43	227.18	793.01
11. Tax expense		52.03	31.78	141.98	44.75	292.52
12. Net Profit(+)/Loss(-) from Ordinary Activities after tax (10-11)		101.07	114.28	237.45	182.43	500.49
13. Extra ordinary items (net of tax expense)		Nil	Nil	Nil	Nil	Nil
14. Net Profit(+)/Loss(-) for the period (12-13)		101.07	114.28	237.45	182.43	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		17.91 18.47	20.81 --	17.91 18.47	20.81 --	20.14 20.22
(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		5.91* 5.91*	6.68* 6.68*	13.88* 13.88*	10.67* 10.67*	29.26 29.26
(iv) NPA Ratios
a) Gross NPA		789.18	571.90	789.18	571.90	589.54
b) Net NPA		137.93	85.28	137.93	85.28	68.12
c) % of Gross NPA		2.99	2.62	2.99	2.62	2.57
d) % of Net NPA		0.54	0.40	0.54	0.40	0.30
(v) Return on Assets (%)		0.26*	0.35*	0.62*	0.56*	1.48
18. Public Shareholding:
- Number of Shares		1658.76 Lakh	1599.16 Lakh	1658.76 Lakh	1599.16 Lakh	1615.57 Lakh
- Percentage of shareholding		97.04	93.55	97.04	93.55	94.51
19. Promoters and Promoter Group Shareholding		Nil	Nil	Nil	Nil	Nil

* Not annualised

Segment Information @

(Rs. crore)

	Quarter ended		Six months period ended		Year ended
	30-Sep-09	30-Sep-08	30-Sep-09	30-Sep-08	31-Mar-09
Segment Revenue:
Treasury operations	222.22	165.99	491.06	342.06	803.87
Corporate/Wholesale Banking	263.76	269.55	562.88	385.59	943.39
Retail Banking	546.71	486.59	990.33	1020.72	2040.38
Other Banking operations	4.81	10.18	15.02	25.27	43.51
Total Revenue	1037.50	932.31	2059.29	1773.64	3831.15
Segment Results (net of provisions):
Treasury operations	21.94	17.58	123.39	-118.77	41.87
Corporate/Wholesale Banking	24.82	70.70	77.77	57.47	112.36
Retail Banking	102.37	78.04	165.89	303.11	655.68
Other Banking operations	3.97	-20.26	12.38	-14.63	-16.90
Total Profit before Tax	153.10	146.06	379.43	227.18	793.01
Capital employed:
Treasury operations	1417.90	1107.43	1417.90	1107.43	1469.44
Corporate/Wholesale Banking	1371.85	993.70	1371.85	993.70	1068.44
Retail Banking	1771.34	2000.42	1771.34	2000.42	1782.84
Other Banking operations	2.24	6.58	2.24	6.58	5.16
Total	4563.33	4108.13	4563.33	4108.13	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.

The Bank had no investor complaints pending as on 30 June 2009. All the 25 complaints received during the quarter were disposed off and there are no pending complaints as on 30 September 2009.

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 30 October 2009.

Kochi M. VENUGOPALAN

30 October 2009 MANAGING DIRECTOR & CEO

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR EAPFAEAKNFEE

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