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Financial Reports
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2011
(`in lakhs)
Sl.
No.
Particulars
Quarter ended
(Audited)
Year ended
(Audited)
31.03.2011
31.03.2010
31.03.2011
31.03.2010
01
Interest earned [(a)+(b)+(c)+(d)]
160878
121786
584406
520065
 
 (a) Interest/discount on advances/bills
117693
96046
419190
383851
 
 (b) Income from investments
42609
22295
161101
128183
 
 (c)  Interest on balances with Reserve Bank of India and other inter bank funds
61
-
126
23
 
 (d) Others
515
3445
3989
8008
02
Other Income
14288
29381
53318
67945
03
TOTAL INCOME (1+2)
175166
151167
637724
588010
04
Interest Expended
113044
92886
389729
375157
05
Operating Expenses (i) + (ii)
51126
26844
143328
107157
 
(i) Employee costs
38708
16361
101044
70562
 
(ii) Other operating expenses
12418
10483
42284
36595
06
TOTAL EXPENDITURE (4+5) (Excluding provisions and contingencies)
164170
119730
533057
482314
07
OPERATING PROFIT (3 –6)  
(Profit before provisions and contingencies)
10996
31437
104667
105696
08
Provisions (other than tax) and Contingencies
8573
16007
36285
35582
09
Exceptional items
-
-
-
-
10
Profit/(Loss) from Ordinary Activities before tax (7-8-9)
2423
15430
68382
70114
11
Tax Expenses[(i)+(ii)]
(3000)
2338
16000
19385
 
(i) Current Tax
(3992)
3853
7505
25212
 
(ii) Deferred Tax
992
(1515)
8495
(5827)
12
Net Profit/(Loss) from Ordinary Activities after tax (10-11)
                    5423
13092
52382
50729
13
Extraordinary Items (Net of Tax Expense)
-
-
-
-
14
Net Profit/(Loss) for the period (12-13)
5423
13092
52382
50729
15
Paid up equity share capital
(Face value of each share- ` 10/-)
47267
43352
47267
43352
16
Reserves excluding Revaluation Reserves (As per Balance Sheet of previous accounting year)
285050
188455
285050
188455
17
Analytical Ratios
 
 
 
 
 
(i)   Percentage of shares held by Government of India
57.69
53.87
57.69
53.87
 
(ii) Capital Adequacy Ratio (%)
 
 
 
 
 
       Basel I
12.59
11.79
12.59
11.79
 
       Basel II
13.88
12.50
13.88
12.50
 
(iii) Earnings per share (EPS) (Not annualized)
 
 
 
 
 
      (a) Basic and Diluted EPS before Extraordinary Items (Net of Tax Expenses
           for the period, for the year to date and for the previous year)
0.65
3.01
9.89
11.70
 
      (b) Basic and Diluted EPS after Extraordinary Items for the period, for the
           year to date and for the previous year
0.65
3.01
9.89
11.70
 
(iv) NPA Ratios
 
 
 
 
 
      a) Amount of Gross Non Performing Assets
125919
99445
125919
99445
 
      b) Amount of Net Non Performing Assets
74116
58156
74116
58156
 
      c) Percentage of Gross Non Performing Assets
2.56
2.37
2.56
2.37
 
      d) Percentage of Net Non Performing Assets
1.52
1.40
1.52
1.40
 
(v) Return on Assets (Annualised) (%)
0.28
0.73
0.72
0.76
18
Public share holding
 
 
 
 
 
      - Number of shares
200000000
200000000
200000000
200000000
 
      - Percentage of share holding
42.30
46.13
42.30
46.13
19
Promoters and Promoter Group Shareholding
 
 
 
 
 
a) Pledged / Encumbered
 
 
 
 
 
    Number of Shares
Nil
Nil
Nil
Nil
 
    Percentage of shares (as a percentage of total shareholding of promoter and promoter group)
Nil
Nil
Nil
Nil
 
    Percentage of shares (as a percentage of total share capital of the company)
Nil
Nil
Nil
Nil
 
b) Non-encumbered
 
 
 
 
 
    Number of Shares (in million)
272.86
233.52
272.86
233.52
 
    Percentage of shares (as a percentage of total shareholding of promoter and promoter group)
100.00
100.00
100.00
100.00
 
    Percentage of shares (as a percentage of total share capital of the company)
57.70
53.87
57.70
53.87

                                                                                                                                                                                                                 
(`.in Crore)
 
(`.in Crore)
SEGMENT –WISE RESULTS, ASSETS AND LIABILITIES FOR THE YEAR ENDED ON 31.03.2011
 
SUMMARISED BALANCE SHEET
Sl. No.
Particulars
Quarter Ended 31.03.2011 (Audited)
Quarter Ended 31.03.2010 (Audited)
Year Ended 31.03.2011 (Audited)
Year Ended 31.03.2010 (Audited)
 
CAPITAL AND LIABILITIES
As at 31.03.2011
As at 31.03.2010
a)
Segment Revenue #
 
 
 
 
 
Capital
1672.67
933.52
 
i) Treasury Operations
468.59
406.68
1799.60
1641.69
 
Reserves and surplus
3144.33
2541.63
 
ii) Whole Sale Banking
706.12
549.04
2435.02
2168.39
 
Deposits
73248.32
61931.75
 
iii) Retail Banking
470.80
411.42
1756.87
1670.12
 
Borrowings
2025.37
1938.56
 
iv) Other Banking Operations
106.15
144.53
385.75
399.90
 
Other Liabilities and Provisions
1596.23
2876.62
 
Total
1751.66
1511.67
6377.24
5880.10
 
Total
81686.92
70222.08
b)
Segment Result
 
 
 
 
 
ASSETS
 
 
 
i) Treasury Operations
29.47
88.55
308.39
308.76
 
Cash and Balances with Reserve Bank of India
       4881.84
4099.58
 
ii) Whole Sale Banking
54.98
119.06
417.28
407.81
 
Balances with Banks and Money at Call and Short Notice
541.73
1449.68
 
iii) Retail Banking
31.56
89.68
301.06
314.12
 
Investments
25138.58
21107.44
 
iv) Other Banking Operations.
7.49
29.69
66.10
75.20
 
Advances
48718.63
41521.72
 
Total
123.50
326.98
1092.83
1105.89
 
Fixed Assets
485.99
493.16
c)
Unallocated Expenses
13.54
12.61
46.16
48.93
 
Other Assets
1920.15
1550.50
d)
Operating Profit
109.96
314.37
1046.67
1056.96
 
Total
81686.92
70222.08
e)
Provisions & Contingencies
85.73
160.07
362.85
355.82
 
 
f)
Income Tax
(30)
23.38
160.00
193.85
 
             NOTES :
 
1.      The above financial results have been approved by the Board of Directors of the Bank at its meeting held on 28th April, 2011.
2.      There has been no change in the Accounting Policies and Practices in preparation of these financial statements as compared to those followed in the preceding financial year ended on 31st March 2010.
3.      The Board has recommended a dividend of `. 2.5 per equity share.
4.      The above financial results have been subjected to audit by the Statutory Central Auditors of the Bank in terms of RBI guidelines and SEBI Listing Agreement.
5.      Working results for period ended on 31.03.2011 have been arrived at after making necessary provisions on estimated basis for Income Tax, Wealth Tax, Bonus, Depreciation and provision for Employee Benefits. Provisions for NPAs, Standard Assets and Depreciation on Investments have been made on the basis of prudential norms issued by the Reserve Bank of India.
6.      The RBI has issued a circular no. DBOD.BP.BC.80/21.04.018/2010-11 on Re – opening of Pension Option to employees of Public Sector Banks and enhancement in Gratuity Limits – Prudential Regulatory Treatment, dated 9th February, 2011. In accordance with the provisions of the said Circular, the bank would amortise the amount of `. 595.53 Crore over aperiod of five years. Accordingly, `. 119.11 Crore has been charged to the P&L Account. In terms of the requirements of the aforesaid RBI circular, the balance amount carried forward i.e. `. 476.42 Crore does not include any amount relating to separated / retired employees.
7.      During the year 2010-11 Government of India has infused additional Tier – I Capital of ` 700 Crore by subscribing to Perpetual Non–Cumulative Preference Shares and equity capital of ` 39.15Crore at a premium of ` 328.85 Crore. premium
8.      The figures of the previous period have been regrouped / rearranged, wherever necessary.
9.      Provision coverage ratio is 63.69% as on 31st March, 2011. However the bank has achieved the PCR as envisaged in the RBI circular DBOD.No.BP.BC.87-21.048/2010-11 dt. 21.04.2011.
10.     The number of investors complaints pending in the beginning of the quarter is Nil. Number of complaints received and resolved during the quarter is 546.
 
g)
Extraordinary Profit
-
-
-
-
 
h)
Net Profit
54.23
130.92
523.82
507.29
 
i)
Other Information
-
-
-
-
 
j)
Segment Assets
 
 
 
 
 
 
i) Treasury Operations
27737.03
24462.48
27737.03
24462.48
 
 
ii) Whole Sale Banking
34088.43
26651.28
34088.43
26651.28
 
 
iii) Retail Banking
18151.22
17782.41
18151.22
17782.41
 
 
iv) Other Banking Operations
529.84
373.27
529.84
373.27
 
 
v) Unallocated Assets
1180.40
952.64
1180.40
952.64
 
 
Total Assets
81686.92
70222.08
81686.92
70222.08
 
k)
Segment Liabilities
 
 
 
 
 
 
i) Treasury Operations
26484.10
23514.29
26484.10
23514.29
 
 
ii) Whole Sale Banking
32548.60
25618.24
32548.60
25618.24
 
 
iii) Retail Banking
17331.30
17093.14
17331.30
17093.14
 
 
iv) Other Banking Operations.
505.91
358.80
505.91
358.80
 
 
v) Unallocated Liabilities
4817.01
3637.61
4817.01
3637.61
 
 
Total Liabilities
81686.92
70222.08
81686.92
70222.08
 
 
# The Bank operates only in domestic segment.
 
 
 
 

Place    : Bangalore
Date    : 28th April, 2011
SHUBHALAKSHMI PANSE
Executive Director
H. S. UPENDRA KAMATH
Chairman & Managing Director