Financial Results 2009

Reviewed Financial Results for the Quarter Ended 30th June, 2009

(Rs.in Lakhs)

Particulars

Quarter Ended
30.06.2009
(Reviewed)

Quarter Ended
30.06.2008
(Reviewed)

Year Ended
31.03.2009
(Audited)

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

233146

183745

812138

(a) Interest/discount on advances / bills

178410

135182

619666

(b) Income on investments

49527

44203

175518

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

4960

3502

14358

(d) Others

249

858

2596

2. Other Income

25222

16171

101990

3. Total Income (1+2)

258368

199916

914128

4. Interest Expended

190435

142905

647668

5. Operating Expenses (i) + (ii)

36906

34215

146298

(i) Employees Cost

25341

23711

99754

(ii) Other operating expenses

11565

10504

46544

6. Total Expenditure (4+5) (excluding Provisions and Contingencies)

227341

177120

793966

7. Operating Profit (Before Provisions and Contingencies) (3-6)

31027

22796

120162

8. Provisions (other than tax) and Contingencies

12690

9207

63128

...of which provision for NPA

6011

(1812)

26842

9. Exceptional Items

-

-

-

10. Profit(+)/Loss(-) from Ordinary Activities before tax (7-8-9)

18337

13589

57034

11. Tax expenses

452

245

1262

… of which provision for FBT

-

69

268

12. Net Profit(+)/Loss(-) from Ordinary Activities after tax (10-11)

17885

13344

55772

13. Extraordinary items

-

-

-

14. Net Profit/(Loss) for the period (12-13)

17885

13344

55772

15. Paid-up equity share capital (Face Value Rs.10/- each)

54936

79936

54936

16. Reserves excluding revaluation reserves

224571

179106

224571

(As per balance sheet of previous accounting year)

 

 

 

17. Analytical Ratios

 

 

 

(i) Percentage of shares held by Govt. of India

63.59%

74.98%

63.59%

(ii) Capital Adequacy Ratio: Basel-I

10.11%

10.53%

9.75%

Basel-II

11.67%

11.39%

11.93%

(iii) Earning per share (EPS) (in Rs.) (Not Annualised)

 

 

 

Basic and diluted EPS before and after Extraordinary items for the period, for the year to date and for the previous year

3.26

1.67

7.63

# EPS restated for restructuring of capital on 22.12.2008

3.26

2.43#

7.63

(iv) NPA Ratios

 

 

 

a) Amount of Gross NPA

155549

157054

153951

b) Amount of Net NPA

77612

105314

81267

c) % of Gross NPA

2.27

2.82

2.21

d) % of Net NPA

1.15

1.91

1.18

e) Return on Assets (Annualised) (%)

0.64%

0.60%

0.59%

18. Public Shareholding

 

 

 

- No. of Shares

200000000

200000000

200000000

- Percentage of Shareholding

36.41%

25.02%

36.41%

19. Promoters and Promoter Group Shareholding

 

 

 

a) Pledged/Encumbered

 

 

 

Number of Shares

Nil

Nil

Nil

Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

Nil

Nil

Nil

Percentage of Shares (as a % of the total share capital of the Company)

Nil

Nil

Nil

b) Non-Encumbered

 

 

 

Number of Shares

349360000

599360000

349360000

Percentage of Shares (as a % of the total shareholding of promoter and promoter group)

100%

100%

100%

Percentage of Shares (as a % of the total share capital of the Company)

63.59%

74.98%

63.59%

Segmentwise Results for the Quarter Ended 30.06.2009
PART : A  BUSINESS SEGMENT 

(Rs.in Lakhs)

Sl.No.

Particulars

Quarter Ended
30.06.2009
(Reviewed)

Quarter Ended
30.06.2008
(Reviewed)

Year Ended
31.03.2009
(Audited)

1)

Segment Revenue

 

 

 

 

i) Treasury Operations

65816

53064

231435

 

ii) Corporate/Wholesale Banking

94827

76305

374462

 

iii) Retail Banking

96693

68929

299239

 

iv) Other Banking Operations

1032

1617

8986

 

v) Unallocated

0

1

5

 

Total Income from operation

258368

199916

914128

2)

Segment Results

 

 

 

 

i) Treasury Operations

7247

(8912)

6739

 

ii) Corporate/Wholesale Banking

4708

12266

23689

 

iii) Retail Banking

7071

10380

25976

 

iv) Other Banking Operations

1032

1617

8986

 

v) Unallocated

(1721)

(1762)

(8356)

 

Total Profit Before Tax

18337

13589

57034

3)

Capital Employed

 

 

 

 

(Segment Assets - Segment Liabilities)

 

 

 

 

i) Treasury Operations

62140

36718

61866

 

ii) Corporate/Wholesale Banking

152223

119235

159957

 

iii) Retail Banking

151200

109014

127684

 

iv) Other Banking Operations

0

0

0

 

v) Unallocated

45902

44016

46198

 

Total Capital Employed

411465

308983

395705

PART : B GEOGRAPHIC SEGMENT

(Rs.in Lakhs)

Particulars

Quarter Ended
30.06.2009
(Reviewed)

Quarter Ended
30.06.2008
(Reviewed)

Year Ended
31.03.2009
(Audited)

Domestic

 

 

 

i) Revenue

251875

191013

879481

ii) Assets

10719671

8305299

10429113

International

 

 

 

i) Revenue

6493

8903

34647

ii) Assets

598189

700651

737304

Global

 

 

 

i) Revenue

258368

199916

914128

ii) Assets

11317860

9005950

11166417

NOTES

  1. The financial results for the quarter ended 30.06.2009 have been subjected to limited review by the Statutory Central Auditors and have been approved by the Board of Directors at its meeting held on 30th July, 2009.

  2. The working results for the quarter ended 30.06.2009 have been arrived at after considering the provision for non-performing assets, standard assets, diminution in fair value and investment depreciation on the basis of prudential norms issued by the Reserve Bank of India (RBI). In respect of Income Tax, Depreciation on Fixed Assets, etc., provision has been made on estimated basis.

  3. In terms of the Revised Accounting Standard (AS)-15 provision is being made for Employee Benefits viz. pension, gratuity, leave encashment, LFC/LTC, sick leave etc. on estimated and proportionate basis. The provision charged to Profit & Loss Account includes Rs.22.17 crore (Rs.22.17 crore) towards amortization of the increase in transitional liability over the pre-revised AS-15 liability and Rs. 24.11 crore (Rs17.65 crore) towards current liability for the current quarter. The unamortized portion of the increase in liability on account of Revised AS-15 is Rs. 243.90 crore (Rs.332.59 crore) as on 30.06.2009.

  4. Pending outcome of negotiations on wage revision between Indian Banks’ Association on behalf of member banks and Unions of workmen / officers, an ad-hoc provision of Rs.30 crore (Nil) has been made during the quarter ended 30.06.2009 over and above Rs.150 crore made in the year ended 31.03.2009 and Rs.30.58 crore (Nil) towards consequential increase in other Employees’ Benefits such as Pension, Gratuity, etc.

  5. The Bank has recognized, in the quarter ended 30.06.2009, MAT Credit to the extent of Rs.33.99 crore (Rs. 13.21 crore) as MAT Credit Entitlement under Section 115JAA of the Income Tax Act, 1961 and treated the same as an Asset.

  6. Towards Credit Linked Notes (CLNs) of USD 20 Mio (Rs.95.81 crore as per FEDAI revaluation rates as on 30.06.2009) issued by an overseas entity who has filed bankruptcy petition bank has lodged claim with the Bankruptcy Trustee for the underlying FCCBs issued by the reference entities, which are of good rating and financial status. The bankruptcy of the issuer of CLNs is one of Events of Default and the issuer has to thereupon deliver the FCCBs to the CLN holder. Bank as an abundant precaution has made full provision of Rs.95.81 crore against these CLNs and continues to recognize these as Standard Advance.

  7. Reconciliation of outstanding entries in Suspense Accounts and Inter Branch/Office Accounts has been completed upto 31.05.2009 and reconciliation for the remaining period is also in progress. The impact of such reconciliation on the accounts will not be material.

  8. Number of Investor Complaints:- (i) Outstanding at the beginning of the quarter-03, (ii) Received during the quarter-195, (iii) Disposed of during the quarter-196 and (iv) Outstanding at the end of the quarter-2.

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

For UCO Bank
Subodh Kumar Goel
(Chairman & Managing Director)

     
Brij Mohan Mittal
Executive Director 		  Virendra Kumar Dhingra
Executive Director
     
Place: Kolkata
 Date: 30.07.2009		    

 

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