Unaudited Financial Results for The Half Year Ended 30th September, 2004 (Rs. in Lakhs)
PARTICULARS Quarter
ended		 Quarter
ended		 Half Year
ended		 Half Year
ended		 Previous Accounting Year ended 31.03.2004(Audited)
30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)    		30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)
1. Interest Earned [(a)+(b)+{c}+(d)] 88297 76972 172518 152136 309628
(a) Interest/Discount on Advances/Bills 47614 40411 92277 79149 161636
(b) Income on Investments 36863 33480 72415 65865 135326
(c) Interest on balances with Reserve Bank of India and other Inter-Bank Funds 2148 2098 5966 4243 9167
(d) Others 1672 983 1860 2879 3499
2. Other Income 12024 15054 25837 34611 62528
A. TOTAL INCOME (1+2) 100321 92026 198355 186747 372156
3. Interest Expended 51736 48605 102366 95826 190169
4. Operating Expenses [(e)+(f)] 22434 21126 44793 41880 87147
(e) Payments to and provisions for employees 16418 16495 32958 32972 66747
(f) Other Operating expenses 6016 4631 11835 8908 20400
B. TOTAL EXPENDITURE (3+4) (excluding Provisions and Contingencies) 74170 69731 147159 137706 277316
C. OPERATING PROFIT (A-B) (Profit before Provisions and Contingencies) 26151 22295 51196 49041 94840
D. Provisions and contingencies 9308 6161 17996 18096 47997
  - of which provisions for Non-Performing Assets 177 2474 4675 6189 33504
E. Provision for taxes 2760 502 4900 1702 3302
F. NET PROFIT (C-D-E) 14083 15632 28300 29243 43541
5. Paid-up equity share capital 79936 59936 79936 59936 79936
6. Reserves excluding revaluation reserves (As per Balance Sheet of previous accounting year) 69557 31034 69557 31034 69557
7. Analytical Ratios:          
(i) Percentage of shares held by Govt. of India 74.98% 100% 74.98% 100% 74.98%
(ii) Capital Adequacy Ratio (%) 12.52 11.36 12.52 11.36 11.88
(iii) Earning per share (Not annualized) 1.76 2.61 3.54 4.88 6.23
(iv) (a) Amount of Gross Non-Performing Assets 129881 130036 129881 130036 147912
(b) Amount of Net Non-Performing Assets 68614 69493 68614 69493 75293
(c) % of Gross NPAs 5.70 7.54 5.70 7.54 6.93
(d) % of Net NPAs 3.09 4.18 3.09 4.18 3.65
(v) Return on Assets (Annualized) (%) 1.25 1.61 1.25 1.61 1.13
8. Aggregate of Non-promoter shareholding:          
  - Number of shares (in lakhs) 2000 Nil 2000 Nil 2000
  - Percentage of shareholding 25.02 Nil 25.02 Nil 25.02
Notes forming integral part of the Financial Result, as per our report of even date.

 

SEGMENT REPORTING FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2004
BUSINESS SEGMENT                                                                                               (Rs. in crores)
PARTICULARS Three Months
Ended 		Three Months
Ended 		Six Months
Ended 		Six Months
Ended 		Year
Ended
30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)		 30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)		 31.03.04
(Audited)
a) Segment Revenue          
i) Treasury Operations 439.26 445.54 914.71 933.55 1816.69
ii) Other Banking Operations 563.85 474.65 1068.74 933.85 1904.73
  Total 1003.11 920.19 1983.45 1867.40 3721.42
b) Segment Results          
i) Treasury Operations 62.74 17.74 173.82 154.20 434.05
ii) Other Banking Operations 206.30 211.87 353.19 348.61 538.91
  Total 269.04 229.61 527.01 502.81 972.96
  Unallocated Revenue 0.10 0.07 0.10 0.07 0.14
  Unallocated Expenses 7.63 6.73 15.15 12.47 24.70
  Operating Profit 261.51 222.95 511.96 490.41 948.40
  Provisions & Contingencies 93.08 61.61 179.96 180.96 479.97
  Income Tax 27.60 5.02 49.00 17.02 33.02
  Net Profit 140.83 156.32 283.00 292.43 435.41
c) Other Information          
  Segment Assets          
i) Treasury Operations 23773.00 24044.93 23773.00 24044.93 21735.06
ii) Other Banking Operations 23017.75 17620.46 23017.75 17620.46 21677.42
iii) Unallocated Assets 394.88 375.01 394.88 375.01 385.34
  Total Assets 47185.63 42040.40 47185.63 42040.40 43797.82
  Segment Liabilities          
i) Treasury Operationsi 22327.66 19515.17 22327.66 19515.17 20416.94
ii) Other Banking Operations 22777.27 16917.79 22777.27 16917.79 21597.82
iii) Unallocated Liabilities 284.73 4396.65 284.73 4396.65 288.12
  Total 45389.66 40829.61 45389.66 40829.61 42302.88
  Capital & Reserves 1795.97 1210.79 1795.97 1210.79 1494.94
  Total Liabilities 47185.63 42040.40 47185.63 42040.40 43797.82

 

GEOGRAPHIC SEGMENT                                                                                           (Rs. in crores)
PARTICULARS Three Months
Ended 		Three Months
Ended 		Six Months
Ended 		Six Months
Ended 		Year
Ended
30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)		 30.09.2004
(Reviewed)		 30.09.2003
(Reviewed)		 31.03.04
(Audited)
  Domestic          
i) Revenue 975.42 899.84 1931.32 1821.72 3634.03
ii) Assets 44526.44 39835.86 44526.44 39835.86 41426.59
  International          
i) Revenue 27.79 20.42 52.23 45.75 87.53
ii) Assets 2659.19 2204.54 2659.19 2204.54 2371.23
  Global          
i) Revenue 1003.21 920.26 1983.55 1867.47 3721.56
ii) Assets 47185.63 42040.40 47185.63 42040.40 43797.82

Notes

  1. The working results for the half year ended 30.09.2004 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 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 not be material.
  3. Payments to and provision for employees include an amount of Rs.66 crores for the half year ended 30.09.2004 (Rs.66 crores for the half year ended 30.09.2003), on account of Voluntary Retirement Scheme, amortised on prorata basis. The balance amount to be amortised is Rs.147.54 crores.
  4. 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 asset has been recognized in view of uncertainty of adjustments of past accumulated losses in terms of tax laws.
  5. There has been no change in the Accounting Policies adopted during the half year ended 30.09.2004 to those followed in the previous year.
  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 half-year ended 30th September, 2004 have been subjected to review by the Auditors of the Bank.
  8. The above results have been taken on record by the Board at its meeting held on 19th October, 2004.
  9. The previous period figures have been regrouped / rearranged wherever necessary.
  10. Number of Investor Complaints.
Outstanding at the beginning of the quarter  NIL
Received during the quarter 448
Disposed Off during the quarter  448
Lying Unresolved as at the end of the quarter NIL

 

For UCO BANK
         
Place : Kolkata    (B.K. DATTA) (V.P. SHETTY)
Date : 19.10.2004 Executive Director Chairman & Managing Director

Go Top