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

Unaudited Financial Results for the Half Year ended 30th September, 2005
(Amount in lakhs)
Particulars	Quarter ended 30.09.2005	Quarter ended 30.09.2004	Half Year ended 30.09.2005	Half Year ended 30.09.2004	Year Ended 31.03.2005
	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
I. Interest earned (a)+(b)+(c)+(d)	1045 99	885 12	2047 01	1727 33	3562 15
(a) Interest/discount on advances / bills	629 85	476 14	1211 88	922 77	1922 11
(b) Income on investments	371 32	370 78	754 19	726 30	1497 10
(c) Interest on balances with Reserve Bank	36 81	36 51	67 34	74 69	131 53
of India and other inter-bank funds
(d) Others	8 01	1 69	13 60	3 57	11 41
2. Other Income	118 11	120 24	201 44	258 37	515 56
A. TOTAL INCOME(1+2)	1164 10	1005 36	2248 45	1985 70	4077 71

3. Interest Expended	655 37	517 36	1277 49	1023 66	2140 49
4. Operating Expenses (e) + (f)	341 63	262 49	645 13	524 08	1118 56
(e) Payments to and provisions for employees	242 90	200 18	460 13	403 58	859 41
(f) Other operating expenses	98 73	62 31	185 00	120 50	259 15
B. TOTAL EXPENDITURE (3+4)	997 00	779 85	1922 62	1547 74	3259 05
(excluding Provisions and Contingencies)

C. OPERATING PROFIT (A-B)	167 10	225 51	325 83	437 96	818 66
(Profit before Provisions and Contingencies)
D. Provisions and Contingencies	61 20	53 68	166 82	102 56	440 03
( Of which provisions for Non-performing assets)	30 07	1 77	-3 35	46 75	183 51
E. Provision for Taxes	8 03	31 00	16 13	52 40	32 98
… of which provisions for Fringe Benefit Tax (FBT)	2 40		3 55
F. Net Profit(C-D-E)	97 87	140 83	142 88	283 00	345 65

5. Paid -up equity share capital	799 36	799 36	799 36	799 36	799 36
6. Reserves excluding revaluation reserves	996 49	722 29	996 49	722 29	996 49
(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	10.42%	12.52%	10.42%	12.52%	11.26%
(iii) Earning per share ( in Rs.)	1.22	1.76	1.79	3.54	4.32
(iv) (a) Amount of gross non- performing assets	1317 65	1298 81	1317 65	1298 81	1399 35
(b) Amount of net non-performing assets	802 75	686 14	802 75	686 14	810 74
(c) % of gross NPA to gross Advances	4.23	5.70	4.23	5.70	4.96
(d) % of net NPA to net Advances
(v) Return on Assets (Annualised)	0.71%	1.22%	0.53%	1.25%	0.73%
8. Aggregate of Non-Promoter Shareholding
Number of shares ( in lakhs)	2000	2000	2000	2000	2000
Percentage of shareholding	25.02	25.02	25.02	25.02	25.02

Segment reporting as on 30th September, 2005

(Amount in Crores)
Particulars	Quarter ended 30.09.2005	Quarter ended 30.09.2004	Half Year ended 30.09.2005	Half Year ended 30.09.2004	Year Ended 31.03.2005
	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
a) Segment Revenue
I) Treasury Operation	448.02	456.44	883.61	931.89	1842.43
ii) Other Banking Operaton	715.51	548.82	1363.95	1053.71	2235.15
Total	1163.53	1005.26	2247.56	1985.60	4077.58
b)Segment Result
I) Treasury Operation	77.90	143.26	154.90	317.00	606.14
ii) Other Banking Operaton	99.61	89.78	190.05	136.01	247.95
Total	177.51	233.04	344.95	453.01	854.09
Unallocated Revenue	0.57	0.10	0.89	0.10	0.13
Unallocated Expenses	10.98	7.63	20.01	15.15	35.56
Operating Profit	167.10	225.51	325.83	437.96	818.66
Provision & Contingencies	61.20	53.68	166.82	102.56	440.03
Income Tax (including FBT,DT)	8.03	31.00	16.13	52.40	32.98
Net Profit	97.87	140.83	142.88	283.00	345.65
c) Other Information
Segment Assets
i) Treasury Operation	24683.68	23773.00	24683.68	23773.00	25764.39
ii) Other Banking Operaton	31311.47	23017.75	31311.47	23017.75	28415.74
iii) Unallocated Assets	409.19	394.88	409.19	394.88	409.33
Total Assets	56404.34	47185.63	56404.34	47185.63	54589.46
Segment Liabilities
i) Treasury Operation	23856.02	22327.66	23856.02	22327.66	25086.60
ii) Other Banking Operaton	30332.54	22750.55	30332.54	22750.55	27426.38
iii)Unallocated Liabilities	277.07	284.73	277.07	284.73	280.62
Total	54465.63	45362.94	54465.63	45362.94	52793.60
Capital & Reserves	1938.71	1822.69	1938.71	1822.69	1795.86
Total Liabilities	56404.34	47185.63	56404.34	47185.63	54589.46
Part B Geographical Segment (Amount in Crores)
Particulars	Quarter ended 30.09.2005	Quarter ended 30.09.2004	Half Year ended 30.09.2005	Half Year ended 30.09.2004	Year Ended 31.03.2005
	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
DOMESTIC
Revenue	1121.24	977.57	2170.15	1933.47	3965.28
Assets	53098.04	44526.44	53098.04	44526.44	51815.70
INTERNATIONAL
Revenue	42.86	27.79	78.30	52.23	112.43
Assets	3306.30	2659.19	3306.30	2659.19	2773.76
Global
Revenue	1164.10	1005.36	2248.45	1985.70	4077.71
Assets	56404.34	47185.63	56404.34	47185.63	54589.46

Notes forming integral part of the Financial Result, as per our report of even date.

Notes:

The working results for the half year ended 30.09.2005 have been arrived at after considering the provision for non-performing assets, standard assets and investment depreciation on the basis of prudential norms prescribed by the Reserve Bank of India. Net non-performing assets has been arrived at after deducting provision including floating provision of Rs. 22 crores (Rs. 76 crores). In respect of gratuity, pension, leave encashment, income tax, fringe benefit tax, deferred tax liability etc., necessary provisions have been made on an estimated and proportionate basis subject to adjustment at the year end.
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 on the accounts will not be material.
Payments to and provision for employees include an amount of Rs.66 crores for the half year ended 30.09.2005 (Rs.66 crores), on account of Voluntary Retirement Scheme, amortised on prorata basis. The balance amount to be amortised is Rs.15.56 crores.
Consequent upon transfer of certain Government Securities from Available for Sale Category to Held to Maturity Category as permitted by RBI, depreciation amounting to Rs. 166.29 crores (Nil) has been charged to P&L Account during this half year and to this extent the figures of the corresponding period is not comparable.
Necessary provision for deferred tax liability has been made in terms of AS-22 issued by the Institute of Chartered Accountants of India. No deferred tax assets has been recognized in view of uncertainty of adjustments of past accumulated losses in terms of tax laws.
There has been no change in the Accounting Policies adopted during the half year ended 30.09.2005 to those followed in the previous year.
The above results have been subjected to review by the Auditors of the Bank and taken on record by the Board at its meeting held on 31st October, 2005.
The previous period figures have been regrouped / rearranged wherever necessary.
Number of Investor Complaints-Outstanding at the beginning of the quarter-NIL, Received and Disposed off during the quarter -1683, Lying unresolved as at the end of the quarter-NIL.

	For UCO BANK
Place : Kolkata Date : 31.10.2005	(B.K. DATTA) Executive Director	(V.SRIDAR) Chairman & Managing Director