Audited Financial Results For The Year Ended 31st March, 2005
(Rs. in lakhs)
  Quarter ended Year ended
PARTICULARS

31.03.2005
(Audited)

 31.03.2004
(Audited)		 31.03.2005
(Audited)		 31.03.2004
(Audited)
1. Interest Earned [(a)+(b)+{c}+(d)] 92093 80641 354686 309628
(a) Interest/Discount on Advances/Bills 50174 42979 192211 161635
(b) Income on Investments 37682 34838 148181 135326
(c) Interest on balances with Reserve Bank of India and other Inter-Bank Funds 3777 2724 13153 9168
(d) Others 460 100 1141 3499
2. Other Income 12194 15111 51556 62528
A. TOTAL INCOME (1+2) 104287 95752 406242 372156
3. Interest Expended 58301 47648 214049 190169
4. Operating Expenses [(e)+(f)] 29308 27192 110327 102109
(e) Payments to and provisions for employees 22173 20598 85941 81710
(f) Other Operating expenses 7135 6594 24386 20399
B. TOTAL EXPENDITURE (3+4)
(excluding Provisions and Contingencies)		 87609 74840 324376 292278
C. OPERATING PROFIT (A-B)
(Profit before Provisions and Contingencies)		 16678 20912 81866 79878
D. Provisions and Contingencies 18081 18905 44529 33034
-of which provisions for Non-Performing Assets 13417 23815 18351 33504
E. Provision for taxes -2128 1100 2772 3302
F. NET PROFIT (C-D-E) 725 907 34565 43542
5. Paid-up equity share capital 79936 79936 79936 79936
6. Reserves excluding revaluation reserves(As per Balance Sheet of previous accounting year) 96889 71362 96889 71362
7. Analytical Ratios:        
(i) Percentage of shares held by Govt. of India 74.98% 74.98% 74.98% 74.98%
(ii) Capital Adequacy Ratio 11.26% 11.88% 11.26% 11.88%
(iii) Earning per share (Not Annualized) 0.09 0.11 4.32 6.23*
(iv) (a) Amount of Gross Non-Performing Assets 139935 147912 139935 147912
(b) Amount of Net Non-Performing Assets 81074 75293 81074 75293
(c) % of Gross NPA to Gross Advances 4.96 6.93 4.96 6.93
(d) % of Net NPA to Net Advances 2.93 3.65 2.93 3.65
(v) Return on Assets (Annualized) 0.06% 1.13% 0.73% 1.13%
8. Aggregate of Non-Promoter shareholding        
- Number of shares (in lakhs) 2000 2000 2000 2000
- Percentage of shareholding 25.02 25.02 25.02 25.02
9. Number of Investor Complaints:        
Outstanding at the beginning Nil 180 Nil Nil
Received 497 2343 6382 12902
Disposed off 497 2523 6382 12902
Lying unresolved Nil Nil Nil Nil

*Calculated on Capital increased w.e.f. 01.10.2003

SEGMENT REPORTING FOR THE YEAR ENDED 31.03.2005
PART A BUSINESS SEGMENT
(Rs. in Crores)

Particular

Three Month ended 31.03.05
(Audited)

Three Month ended 31.03.04
(Audited)

Year Ended 31.03.05
(Audited)

Year Ended 31.03.04
(Audited)
a) Segment Revenue        
I) Treasury Operation

444.07

450.56

1827.14

1816.69
ii) Other Banking Operaton

598.79

506.95

2235.15

1904.73
Total

1042.86

957.51

4062.29

3721.42
b) Segment Result        

I) Treasury Operation

74.91

179.55

275.00

353.22

ii) Other Banking Operaton

103.74

35.79

579.09

470.11

Total

178.65

215.34

854.09

823.33

• Unallocated Revenue

0.01

0.01

0.13

0.14

Unallocated Expenses

11.88

6.23

35.56

24.69

• Operating Profit

166.78

209.12

818.66

798.78

Provision & Contingencies

203.04

189.05

467.52

330.34

• Income Tax

-23.02

11.00

25.98

33.02

Net Profit

-13.24

9.07

325.16

435.42

c) Other Information

        

Segment Assets

        

I) Treasury Operation

25764.39

21735.06

25764.39

21735.06

ii) Other Banking Operaton

28401.74

21677.42

28401.74

21677.42

iii) Unallocated Assets

409.33

385.34

409.33

385.34

Total Assets

54575.46

43797.82

54575.46

43797.82

Segment Liabilities

        

I) Treasury Operation

25095.91

20416.94

25095.91

20416.94

ii) Other Banking Operaton

27451.17

21579.78

27451.17

21579.78

iii)Unallocated Liabilities

280.62

288.12

280.62

288.12

Total

52827.70

42284.84

52827.70

42284.84

Capital & Reserves

1747.76

1512.98

1747.76

1512.98

Total Liabilities

54575.46

43797.82

54575.46

43797.82
 
PART B GEOGRAPHICAL SEGMENT

(Rs. in Crores)

PARTICULARS

Three Month ended 31.03.05
(Audited)

Three Month ended 31.03.04
(Audited)

Year Ended 31.03.05
(Audited)

Year Ended 31.03.04
(Audited)

DOMESTIC

        

Revenue

1012.66

938.32

3949.99

3634.03

Assets

51801.70

41426.59

51801.70

41426.59

INTERNATIONAL

        

Revenue

30.21

20.48

112.43

87.53

Assets

2773.76

2371.23

2773.76

2371.23

Global

        

Revenue

1042.87

958.80

4062.42

3721.56

Assets

54575.46

43797.82

54575.46

43797.82

 

Notes:

  1. The working results for the year ended 31.03.05 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 (RBI), provision for gratuity, pension and leave encashment on actuarial basis and income tax and other necessary provisions.
  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 not be material.
  3. Payments to and provision for employees include an amount of Rs.132 crores for the year ended 31.03.05 (Rs.132 crores), on account of Voluntary Retirement Scheme, amortized on pro-rata basis. The balance amount to be amortized is Rs.81.57crores (Rs.213.54 crores).
  4. Compared to earlier years, provision for Gratuity, Leave Encashment, Pension and Arrear Salary amounting to Rs.187.53 crores (Rs.149.63 crores) has been grouped under Operating Expenses instead of Provision & Contingencies.
  5. Rs.96 crores has been provided for towards the impending wage revision for employees during the year, thereby taking the total provision for the said purpose to Rs.152 crores.
  6. Deferred Tax Liability of Rs.5.26 crores is made in terms of Accounting Standard 22 issued by ICAI on account of timing difference on depreciation on computers. Deferred Tax Assets are not recognized in view of the uncertainty of adjustment/computation of carry forward losses and their realization.
  7. Consequent upon transfer of certain Government Securities from Available for Sale category (AFS) to Held to Maturity category (HTM) as permitted by RBI, depreciation amounting to Rs.180.95 crores has been charged to Profit & Loss Account during the year and to this extent the figure of last year is not comparable.
  8. 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 RBI.
  9. During the year Bank raised Rs.250 crores (Rs.300 crores) as Tier-II Capital through Private placement.
  10. In respect of accounting foreign exchange transactions and translation of financial statements of foreign branches the Bank has followed Accounting Standard -11 issued by the ICAI read with RBI guidelines thereon.
  11. The above results for the year ended 31.03.05 have been subjected to audit by the Auditors of the Bank.
  12. The above results have been taken on record by the Board at its meeting held on 5th of May, 2005.
  13. The previous period figures have been regrouped /rearranged/recast wherever necessary.
  14. Number of Investor Complaints
Outstanding at the beginning of the year NIL
Received during the year 6382
Disposed off during the year 6382
Lying unresolved as at the end of the year NIL

 

            

For UCO BANK
 

Place: Kolkata
Date: 05.05.2005		 B K Dutta
(Executive Director)		 V.Sridar
(Chairman & Managing Director    )

 

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