UCO Bank - First quarter, second quarter, Third Quarter and annual results

Audited Financial Result for the Year Ended 31st March,2007
				(Rs. in lakhs)
Particulars	Quarter Ended	Quarter Ended	Year Ended	Year Ended
	31.03.2007	31.03.2006	31.03.2007	31.03.2006
	(Audited)	(Audited)	(Audited)	(Audited)
1. Interest earned (a)+(b)+(c)+(d)	145204	117057	531784	435458
(a) Interest/discount on advances / bills	98810	73098	353970	263110
(b) Income on investments	39600	40287	157845	155717
(c) Interest on balances with Reserve Bank
of India and other inter-bank funds	5440	1950	16270	12483
(d) Others	1354	1722	3699	4148

2. Other Income	16440	13528	44265	37406
A. TOTAL INCOME (1+2)	161644	130585	576049	472864

3. Interest Expended	98868	77797	362317	278884

4. Operating Expenses (e) + (f)	31474	29270	119257	117737
(e) Payments to and provisions for employees	21751	20345	83313	87994
(f) Other operating expenses	9723	8925	35944	29743
B. TOTAL EXPENDITURE (3+4)	130342	107067	481574	396621
(excluding Provisions and Contingencies)
C. OPERATING PROFIT (A-B)	31302	23518	94475	76243
(Profit before Provisions and Contingencies)
D. Provisions and Contingencies	27690	30373	58706	55199
…of which provisions for Non-performing assets)	12308	17063	29024	18126
E. Provision for Taxes	518	-981	4159	1379
..of which provision for Fringe Benefit Tax(FBT)	0	-424	164	281
F. Net Profit (C-D-E)	3094	-5874	31610	19665
5. Paid-up equity share capital	79936	79936	79936	79936
6. Reserves excluding revaluation reserves	141189	118777	141189	118777

7. Analytical Ratios
(i) Percentage of shares held by Govt. of India	74.98%	74.98%	74.98%	74.98%
(ii) Capital Adequacy Ratio	11.56%	11.12%	11.56%	11.12%
(iii) Earning per share (in Rs.) (Not annualised)	0.39	-0.73	3.95	2.46
(iv) (a) Amount of gross non-perfoming assets	150623	123474	150623	123474
(b) Amount of net non-performing assets	100606	78598	100606	78598
(c) % of gross NPAs	3.17	3.27	3.17	3.27
(d) % of net NPAs	2.14	2.10	2.14	2.10
(v) Return on Assets (annualised)	0.17%	-0.38%	0.47%	0.34%

8.Aggregate of Non-promoter Shareholding
(i) No. of Share (in lakhs)	2000	2000	2000	2000
(ii) Percentage of Shareholding	25.02	25.02	25.02	25.02

SEGMENT REPORTING FOR THE YEAR ENDED 31.03.2007
	PART A BUSINESS SEGMENT
			(Rs. in crores)
	Quarter Ended	Quarter Ended	Year Ended	Year Ended
	31.03.2007	31.03.2006	31.03.2007	31.03.2006
	(Audited)	(Audited)	(Audited)	(Audited)
Segment Revenue
i) Treasury Operations	453.68	437.43	1722.22	1709.51
ii) Other Banking Operations	1134.95	865.11	3990.46	3014.74
Total	1588.63	1302.54	5712.68	4724.25
Segment Results
i) Treasury Operations	104.26	187.08	160.61	429.15
ii) Other Banking Operations	197.87	56.37	796.89	371.92
Total	302.13	243.45	957.50	801.07
Unallocated Revenue	27.81	3.31	47.81	4.39
Unallocated Expenses	16.92	11.58	60.56	43.03
Operating Profit	313.02	235.18	944.75	762.43
Provisions & Contingencies	276.90	303.73	587.06	551.99
Income Tax(including FBT)	5.18	-9.81	41.59	13.79
Net Profit	30.94	-58.74	316.10	196.65
Other Information
Segment Assets
i) Treasury Operations	25916.54	23191.90	25916.54	23191.90
ii) Other Banking Operations	48280.58	38036.09	48280.58	38036.09
iii) Unallocated Assets	666.78	611.41	666.78	611.41
Total Assets	74863.90	61839.40	74863.90	61839.40
Segment Liabilities
i) Treasury Operations	26590.23	23293.16	26590.23	23293.16
ii) Other Banking Operations	45611.58	36083.71	45611.58	36083.71
iii) Unallocated Liabilities	450.84	475.40	450.84	475.40
Total	72652.65	59852.27	72652.65	59852.27

Capital & Reserves	2211.25	1987.13	2211.25	1987.13
Total Liabilities	74863.90	61839.40	74863.90	61839.40
PART B GEOGRAPHIC SEGMENT
Particulars	Quarter Ended 31.03.2007	Quarter Ended 31.03.2006	Year ended 31.03.2007	Year ended 31.03.2006
	(Audited)	(Audited)	(Audited)	(Audited)
Domestic
i) Revenue	1441.26	1250.68	5483.99	4548.24
ii) Assets	69335.42	58394.61	69335.42	58394.61
International
i) Revenue	94.00	55.17	276.50	180.40
ii) Assets	5528.48	3444.79	5528.48	3444.79
Global
i) Revenue	1535.26	1305.85	5760.49	4728.64
ii) Assets	74863.90	61839.40	74863.90	61839.40

NOTES

1. The working results for the Year ended 31.03.07 have been arrived at after making provision for i) non performing assets, standard assets and investment depreciation on the basis of prudential norms issued by the Reserve Bank of India ii) provision for gratuity, pension and leave encashment on actuarial basis and iii) income tax and other necessary provisions.

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

3. In terms of AS 22 issued by the ICAI, while necessary provision for Deferred Tax Liability has been made, Deferred Tax Assets are recognised only if there is virtual certainty of their realization in future.

4. Depreciation of Rs. 50.93 crores (Rs. 166.73 crores) consequent upon transfer of certain Government Securities from Available for Sale category (AFS) to Held to Maturity category (HTM), and amortisation of premium on HTM securities Rs. 107.78 crores (Rs. 89.67 crores) have been charged to Profit and Loss Account during the year.

5. The Bank during the year raised Rs. 250 crores as Tier-II Capital subordinated debt, Rs. 500 crores as Upper Tier II capital and Rs. 230 crores Innovative Perpetual Debt Instrument as Tier I capital.

6. The above results have been taken on record by the Board as its meeting held on 30th April 2007.

7. The previous period figures have been regrouped/reclassified wherever necessary.

8. Number of Investor Complaints: Outstanding at the beginning of the Year 8; Received during the year 233; Disposed off during the year 241; Lying unresolved as at the end of the year - NIL.

	For UCO BANK
Place : Kolkata Date : 30.04.2007	S.A.Bhat Executive Director	(V.Sridar) Managing Director