Audited Financial Results for the Year ended 31st March, 2004 (Rs. in Lakhs)
  Quarter ended Year ended
PARTICULARS

31.03. 2004
(Audited)

31.03.2003
(Audited)

31.03.2004
(Audited)

31.03.2003
(Audited)
1. Interest Earned [(a)+(b)+{c}+(d)] 80641 74146 309628 279270
(a) Interest/Discount on Advances/Bills 42980 37175 161636 139456
(b) Income on Investments 34838 36170 135326 131984
(c) Interest on balances with Reserve Bank of India and other Inter-Bank Funds 2723 650 9167 6743
(d) Others 100 151 3499 1087
2. Other Income 15111 13286 62528 60929
A. TOTAL INCOME (01+02) 95752 87432 372156 340199
3. Interest Expended 47648 48440 190169 191068
4. Operating Expenses [(e)+(f)] 23530 22981 87147 86727
(e) Payments to and provisions for employees 16935 17175 66747 68969
(f) Other Operating expenses 6595 5806 20400 17758
B. TOTAL EXPENDITURE (03+04)
(excluding Provisions and Contingencies)		 71178 71421 277316 277795
C. OPERATING PROFIT (A-B)
(Profit before Provisions and Contingencies)		 24574 16011 94840 62404
D. Provisions and Contingencies
 22568 24187 47997 39216
- Of which provisions for Non-Performing Assets 24018 12562 33504 22472
E. Provision for taxes 1100 0 3302 2439
F. NET PROFIT (C-D-E) 906 -8176 43541 20749
5. Paid-up equity share capital (Face Value Rs.10/-) 79936 59936 79936 59936
6. Reserves excluding revaluation reserves
(As per Balance Sheet of previous accounting year)		 69557 31034 69557 31034
7. Analytical Ratios:  
(i) Percentage of share held by Govt. of India 74.98% 100% 74.98% 100%
(ii) Capital Adequacy Ratio (%) 11.88 10.04 11.88 10.04
(iii) Earning per share (Rs.) 0.11 - 5.45 3.46
(iv)
(a) Amount of Gross Non-Performing Assets		 147912 136649 147912 136649
(b) Amount of Net Non-Performing Assets 75293 69714 75293 69714
(c) % of Gross NPAs 6.93 8.20 6.93 8.20
(d) % of Net NPAs 3.65 4.36 3.65 4.36
(v) Return on Assets (Annualized) (%) 1.13 0.66 1.13 0.66
8. Aggregate of Non-promoter share holding  
- Number of shares (in lakhs) 2000 Nil 2000 Nil
- Percentage of share holding 25.02 Nil 25.02 Nil

 

SEGMENT REPORTING (Rs. in crore)
 

PARTICULARS

 PART – A BUSINESS SEGMENTS
TREASURY Other Banking Operations TOTAL

Year ended 31.03.03

Quarter ended 31.03.04

Year ended 31.03.04

Quarter ended 31.03.04

Year ended 31.03.04

Quarter ended 31.03.04

Year ended 31.03.04
Revenue

449.23

1816.69

509.57

1904.87

958.80

3721.56

3401.99
Result

197.89

434.05

54.09

539.05

251.98

973.10

689.04
Unallocated Expenses (Net)          

24.69

65.00
Operating Profit          

948.41

624.04
Income Taxes          

33.02

24.39
Provisions & Contingencies          

479.97

392.16
Net Profit          

435.42

207.49
OTHER INFORMATION              
Segment Assets

2591.47

21735.06

3078.39

21677.42

5669.86

43412.48

34540.62
Unallocated Assets          

385.34

373.46
Total Assets          

43797.82

34914.08
Segment Liabilities

2707.41

21379.04

2966.72

22130.66

5674.13

43509.70

34602.66
Unallocated Liabilities          

288.12

311.42
Total Liabilities          

43797.82

34914.08

PART – B GEOGRAPHIC SEGMENTS
 
PARTICULARS DOMESTIC INTERNATIONAL TOTAL

Quarter ended 31.03.04

Year ended 31.03.04

Quarter ended 31.03.04

Year ended 31.03.04

Quarter ended 31.03.04

Year ended 31.03.04

Year ended 31.03.03
Revenue

938.33

3634.03

20.47

87.53

958.80

3721.56

3401.99
Assets

41426.59

41426.59

2371.23

2371.23

43797.82

43797.82

34914.08

 

Notes:

  1. The working results for the year ended 31.03.04 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 provision for gratuity, pension, leave encashment, income tax and other usual and necessary provisions on an estimated and proportionate basis and is subject to adjustment at the year end.
  2. In respect of outstanding entries in Suspense Accounts and Inter Branch/Office accounts, reconciliation of these accounts is in progress. In the opinion of the management the impact of such reconciliation on the accounts will be insignificant.
  3. Payments to and provision for employees include an amount of Rs.132 crores for the year-ended 31.03.2004 (Last year Rs.132 crores) on account of Voluntary Retirement Scheme, amortised on pro-rata basis. The balance amount to be amortised is Rs. 213.54 crores.
  4. In view of uncertainty of adjustments of past-accumulated losses in terms of tax laws, no deferred tax assets is being recognised in terms of AS-22 issued by the Institute of Chartered Accountants of India.
  5. In compliance with RBI directives, the bank has changed during the year the Accounting Policy in respect of classification of advances and recognition of income from more than 180 days to more than 90 days delinquency norms.
  6. In respect of accounting foreign exchange transactions and translation of financial statements of foreign branches the Bank follows FEDAI and RBI guidelines in preference to Accounting Standard -11 on the subject issued by the Institute of Chartered Accountants of India.
  7. The above results for the year ended 31st March, 2004 have been subjected to audit by the Auditors of the Bank.
  8. The above results have been taken on record by the Board at its meeting held on 5th May, 2004.
  9. During the year the Bank has issued 20 crores equity shares of Rs.10/- each at a premium of Rs.2/- per share. The entire share issue expenses amounting to Rs.11.75 crores have been absorbed in the Profit & Loss A/c. of the year
  10. Provision for a Dividend of Re.1 per Share (10%) has been made in the accounts. Necessary steps would be taken for declaration of dividend upon receipt on approval from Reserve Bank of India.
  11. During the year Bank also raised Rs.300 crores as Tire – II Capital through Private placement.
  12. Number of Investor Complaints:
     
    Outstanding at the beginning of the quarter 180
    Received during the quarter 2343
    Disposed off during the quarter 2523
    Lying unresolved as at the end of the quarter NIL

     

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

For UCO BANK
 

Place: Kolkata
Date: May 5, 2004		 B K Dutta
(Executive Director)		 V P Shetty
(Chairman & Managing Director)

 

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