Reviewed Financial Results for the Quarter ended 31st December, 2006

(Amount in lakhs)

Particulars

3 Months Ended
31.12.2006

3 Months Ended
31.12.2005

9 Months Ended
31.12.2006

 9 Months Ended
31.12.2005		 Year Ended
31.03.2006

(Reviewed)

(Reviewed)

(Reviewed)

 (Reviewed) (Audited)
I. Interest earned (a)+(b)+(c)+(d)

133917

113700

386580

318401

435458
(a) Interest/discount on advances/ bills

90766

68824

255160

190012

263110
(b) Income on investments

39683

40011

118245

115430

155717
(c) Interest on balances with Reserve Bank of India and other inter-bank funds

2828

3799

10830

10533

12483
(d) Others

640

1066

2345

2426

4148
2. Other Income

13997

10432

35943

30576

46373
A. TOTAL INCOME (1+2)

147914

124132

422523

348977

481831
3. Interest Expended

92332

73338

263449

 201087 278884
4. Operating Expenses (e) + (f)

29728

28419

87783

 88468 117737
(e) Payments to and provisions for employees

20828

21636

61562

 67649 87994
(f) Other operating expenses

8900

6783

26221

 20819 29743
B. TOTAL EXPENDITURE (3+4)

122060

101757

351232

 289555 396621
(excluding Provisions and Contingencies)          
C. OPERATING PROFIT (A-B)

25854

22375

71291

 59422 85210
(Profit before Provisions and Contingencies)          
D. Provisions and Contingencies

11956

10377

39134

 31523 64166
( Of which provisions for Non-performing assets)

2595

1639

16716

 1304 18367
E. Provision for taxes

1603

747

3641

 2360 1379
…of which provisions for Fringe Benefit Tax (FBT)

52

350

164

 705 281
F. Net Profit (C-D-E)

12295

11251

28516

 25539 19665
5. Paid-up equity share capital

79936

79936

79936

 79936 79936
6. Reserves excluding revaluation reserves

118777

98899

118777

 98899 118777
(As per balance sheet of previous accounting year)          
7. Analytical Ratios          
(i) Percentage of shares held by Govt. of India

74.98%

74.98%

74.98%

 74.98% 74.98%
(ii) Capital Adequacy Ratio

12.65%

10.23%

12.65%

 10.23% 11.12%
(iii) Earning per share (in Rs.) (not annualised)

1.54

1.41

3.57

 3.19 2.46
(iv) (a) Amount of gross non-performing assets

138637

130600

138637

 130600 123474
(b) Amount of net non-performing assets

92059

81180

92059

 81180 78598
(c) % of gross NPAs

3.23

3.69

3.23

 3.69 3.27
(d) % of net NPAs

2.17

2.33

2.17

 2.33 2.10
(v) Return on Assets (Annualised)

0.72%

0.76%

0.57%

 0.61% 0.34%
8. Aggregate of Non-Promoter Shareholding          
i) Number of shares ( in lakhs)

2000

2000

2000

 2000 2000
ii) Percentage of shareholding

25.02

25.02

25.02

 25.02 25.02

   

SEGMENT REPORTING AS ON 31ST DECEMBER, 2006

(Rs.in Crores)

PART-A BUSINESS SEGMENTS
   Particulars

3 Months Ended
31.12.2006

3 Months Ended
31.12.2005

9 Months Ended
31.12.2006

9 Months Ended
31.12.2005

Year Ended
31.03.2006
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
a) Segment Revenue          
i) Treasury Operations

460.97

455.45

1349.72

1339.06

1799.18
ii) Other Banking Operations

999.48

785.68

2855.51

2149.63

3014.74

Total

 1460.45 1241.13 4205.23 3488.69 4813.92
b) Segment Results          
i) Treasury Operations 45.57 109.50 137.53 309.04 518.82
ii) Other Banking Operations 209.21 125.50 599.02 315.55 371.92
Total 254.78 235.00 736.55 624.59 890.74
Unallocated Revenue 18.69 0.19 20.00 1.08 4.39
Unallocated Expenses 14.93 11.44 43.64 31.45 43.03
Operating Profit 258.54 223.75 712.91 594.22 852.10
Provisions & Contingencies 119.56 103.77 391.34 315.23 641.66
Income Tax (including FBT) 16.03 7.47 36.41 23.60 13.79
Net Profit 122.95 112.51 285.16 255.39 196.65
c) Other Information          
Segment Assets          
i) Treasury Operations 24996.56 23841.55 24996.56 23841.55 23191.90
ii) Other Banking Operations 43539.83 35736.62 43539.83 35736.62 38036.09
iii) Unallocated Assets 649.49 405.60 649.49 405.60 611.41
Total Assets 69185.88 59983.77 69185.88 59983.77 61839.40
Segment Liabilities          
i) Treasury Operations 25509.74 22976.57 25509.74 22976.57 23293.16
ii) Other Banking Operations 40922.17 34673.23 40922.17 34673.23 36083.71
iii) Unallocated Liabilities 468.02 275.42 468.02 275.42 475.40
Total 66899.93 57925.22 66899.93 57925.22 59852.27
           
Capital & Reserves 2285.95 2058.55 2285.95 2058.55 1987.13
Total Liabilities 69185.88 59983.77 69185.88 59983.77 61839.40

 

PART-B GEOGRAPHICAL SEGMENTS

(Rs.in crores)

PART-A BUSINESS SEGMENTS
   Particulars

3 Months Ended
31.12.2006

3 Months Ended
31.12.2005

9 Months Ended
31.12.2006

9 Months Ended
31.12.2005

Year Ended
31.03.2006
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
Domestic          
i) Revenue

1418.54

1194.39

4042.73

3364.54

4637.91
ii) Assets

64900.22

56269.22

64900.22

56269.22

58394.61
International          
i) Revenue 60.60 46.93 182.50 125.23 180.40
ii) Assets 4285.66 3714.55 4285.66 3714.55 3444.79
Global          
i) Revenue 1479.14 1241.32 4225.23 3489.77 4818.31
ii) Assets 69185.88 59983.77 69185.88 59983.77 61839.40

  

Notes:
  1. The working results for the quarter ended 31.12.06 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 (RBI). In respect of income tax, fringe benefit tax, pension, gratuity, leave encashment etc., necessary provisions have been made on an estimated and proportionate basis. The Institute of Chartered Accountants of India (ICAI) has issued the revised Accounting Standard 15 on employee benefits effective from 01.04.06. Pending guidelines from RBI, the Bank has adopted the same practice as was followed in the previous year.
     
  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. There has been no change in the Accounting Policies adopted during the nine months ended 31.12.06 to those followed in the previous year.
     
  4. The above results for the quarter ended 31.12.06 subjected to review by the Auditors of the Bank have been taken on record by the Board at its meeting held on 29th January 2007.
     
  5. The previous period figures have been regrouped /rearranged wherever necessary.
     
  6. Number of Investors' Complaints    : Outstanding at the beginning of the quarter - Nil ; Received during the quarter - 54 ; Disposed off during the quarter - 54 ; Lying unresolved as at the end of the quarter - Nil.    
   

For UCO BANK
Place : Kolkata
Date : 29.01.2007		 S.A.Bhat
Executive Director

(V.Sridhar)
Chairman & Managing Director

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