Reviewed Financial Results for the Quarter ended on 30th June, 2005
(Amount in lakhs)
  Quarter ended Year ended
31.03.2005
(Audited)
PARTICULARS

30.06.2005
(Reviewed)

30.06.2004
(Reviewed)
1. Interest Earned [(a)+(b)+{c}+(d)] 100102 84221 354686
(a) Interest/Discount on Advances/Bills 58203 44663 192211
(b) Income on Investments 38287 35552 148181
(c) Interest on balances with Reserve Bank of India and other Inter-Bank Funds 3053 3818 13153
(d) Others 559 188 1141
2. Other Income 8333 13813 51556
A. TOTAL INCOME (1+2) 108435 98034 406242
3. Interest Expended 62212 50630 214049
4. Operating Expenses [(e)+(f)] 30350 26159 110327
(e) Payments to and provisions for employees 21723 20340 85941
(f) Other Operating expenses 8627 5819 24386
B. TOTAL EXPENDITURE (3+4)
(excluding Provisions and Contingencies)		 92562 76789 324376
C. OPERATING PROFIT (A-B)
(Profit before Provisions and Contingencies)		 15873 21245 81866
D. Provisions and Contingencies 10562 4888 44003
-of which provisions for Non-Performing Assets (3342) 4498 18351
E. Provision for taxes 810 2140 3298
- of which provisions for Fringe Benefit Tax (FBT) 115    
F. NET PROFIT (C-D-E) 4501 14217 34565
5. Paid-up equity share capital 79936 79936 79936
6. Reserves excluding revaluation reserves(As per Balance Sheet of previous accounting year) 99649 69557 99649
7. Analytical Ratios:      
(i) Percentage of shares held by Govt. of India 74.98% 74.98% 74.98%
(ii) Capital Adequacy Ratio 10.53% 13.17% 11.26%
(iii) Earning per share (in Rs.) 0.56
(not annualised)		 1.78
(not annualised)		 4.32
(iv) (a) Amount of Gross Non-Performing Assets 136160 138794 139935
(b) Amount of Net Non-Performing Assets 83632 69365 81074
(c) % of Gross NPA to net Advances 4.75 6.49 4.96
(d) % of Net NPA to net Advances 2.97 3.35 2.93
(v) Return on Assets (Annualized) 0.34% 1.30% 0.73%
8. Aggregate of Non-Promoter shareholding      
- Number of shares (in lakhs) 2000 2000 2000
- Percentage of shareholding 25.02 25.02 25.02

   

SEGMENT REPORTING as on 30.06.2005
(Amount in Crores)

Particular

PART - A BUSINESS SEGMENTS

Particular

Quarter ended 30.06.05
(Reviewed)

Quarter ended 30.06.04
(Reviewed)

Year Ended
31.03.05
(Audited)
a) Segment Revenue      
I) Treasury Operation

435.59

475.45

1827.14
ii) Other Banking Operaton

648.44

504.89

2235.15
Total

1084.03

980.34

4062.29
b) Segment Result      

i) Treasury Operation

1.50

111.08

275.38

ii) Other Banking Operaton

165.94

108.89

578.71

Total

167.44

219.97

854.09

• Unallocated Revenue

0.32

0.00

0.13

Unallocated Expenses

9.03

7.52

35.56

• Operating Profit

158.73

212.45

818.66

Provision & Contingencies

105.62

48.88

440.03

• Income Tax (including FBT)

8.10

21.40

32.98

Net Profit

45.01

142.17

345.65

c) Other Information

      

Segment Assets

      

i) Treasury Operation

23412.40

21705.96

25764.39

ii) Other Banking Operation

28900.31

21549.04

28415.74

iii) Unallocated Assets

408.73

387.28

409.33

Total Assets

52721.44

43642.28

54589.46

Segment Liabilities

      

I) Treasury Operation

22765.87

20486.88

25086.60

ii) Other Banking Operaton

27838.65

21187.01

27453.99

iii)Unallocated Liabilities

278.79

286.53

280.62

Total

50883.31

41960.42

52821.21

Capital & Reserves

1838.13

1681.86

1768.25

Total Liabilities

52721.44

43642.28

54589.46
 
PART - B GEOGRAPHICAL SEGMENT

(Rs. in Crores)

PARTICULARS

Quarter ended 30.06.05
(Reviewed)

Quarter ended 30.06.04
(Reviewed)

Year Ended
31-03-05
(Audited)

DOMESTIC

      

Revenue

1048.91

955.90

3949.99

Assets

49836.14

41116.05

51815.70

INTERNATIONAL

      

Revenue

35.44

24.44

112.43

Assets

2885.30

2526.23

2773.76

Global

      

Revenue

1084.35

980.34

4062.42

Assets

52721.44

43642.28

54589.46
* Notes forming integral part of the Financial Results
   As per our report of even date

 

Notes:

  1. The working results for the Quarter ended 30.06.05 have been arrived at after considering the provision for non-performing assets, standard assets and investment depreciation on the basis of prudential norms issued by the Reserve Bank of India and writing back of Rs 30.12 crores out of the Floating Provisions created in earlier years for Non Performing Assets. Net Non Performing Assets has been arrived at after deducting provision including floating provision of Rs 25 crores (Rs. 116 crores). In respect of gratuity, pension, income tax, fringe benefit tax, deferred tax liability etc. necessary provisions have been made on an estimated and proportionate basis subject to adjustment at the year end.

  2. Reconciliation of outstanding entries in Suspense Accounts and Inter Branch/Office accounts is in progress. The impact of such reconciliation on the accounts will not be material.

  3. Payments to and provision for employees include an amount of Rs.33 crores for the quarter ended 30.06.05 (Rs. 33 crores) on account of Voluntary Retirement Scheme, amortised on prorata basis. The balance amount to be amortised is Rs. 48.56 crores.

  4. Pending disbursement of revised salary effective from 01.11.2002, an ad-hoc provision of Rs. 18 crores (Rs.15 crores) has been made in respect thereof in the accounts for the three months ended 30th June, 2005 over and above Rs. 148 crores provided in the last two financial years.

  5. Consequent upon transfer of certain Government Securities from Available for Sale Category to Held to Maturity Category as permitted by RBI, depreciation amounting to Rs. 166.29 crores (Nil) has been charged to Profit & Loss Account during this quarter and to this extent the figures of the corresponding period is not comparable.

  6. Necessary provision for deferred tax liability has been made in terms of AS- 22 issued by the Institute of Chartered Accountants of India. No deferred tax assets has been recognised in view of uncertainty of adjustments of past accumulated losses in terms of tax laws.

  7. There has been no change in the Accounting Policies adopted during the Quarter ended 30.06.05 to those followed in the previous year.

  8. The above results for the quarter ended 30.06.05 have been subjected to review by the Auditors of the Bank.

  9. The above results have been taken on record by the Board at its meeting held on 30th July, 2005.

  10. The previous period figures have been regrouped /rearranged wherever necessary.

  11. Number of Investor Complaints:

Outstanding at the beginning of the quarter NIL
Received during the quarter 375
Disposed off during the quarter 375
Lying unresolved as at the end of the quarter NIL

 

            

For UCO BANK
 

Place: Kolkata
Date: 30.07.2005		 B K Datta
(Executive Director)		 V.Sridar
(Chairman & Managing Director)

 

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