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AUDITED FINANCIAL RESULTS
FOR THE HALF YEAR ENDED SEPTEMBER 30, 1999
| Sr.
No |
Particulars
|
Half
year ended
|
Second
Quarter ended
|
Year
ended March 31, 1999
|
| Sept
30, 1999 |
Sept
30, 1998 |
Sept
30, 1999 |
Sept
30, 1998 |
| 1. |
Interest
Income |
387.58 |
234.16 |
188.66 |
131.74 |
544.05 |
| 2. |
Other
Income |
54.99 |
40.48 |
31.71 |
21.74 |
89.03 |
| 3. |
Total
Income |
442.57 |
274.64 |
220.37 |
153.48 |
633.08 |
| 4. |
Interest
Expenditure |
316.08 |
181.60 |
155.25 |
105.28 |
425.51 |
| 5. |
Other
Expenditure |
43.33 |
26.78 |
22.26 |
14.61 |
65.44 |
| 6. |
Total
Expenditure |
359.41 |
208.38 |
177.51 |
119.89 |
490.95 |
| 7. |
Gross
Profit before depreciation, provisions and contingencies |
83.16 |
66.26 |
42.86 |
33.59 |
142.13 |
| 8. |
Depreciation
on fixed assets |
9.05 |
8.18 |
4.96 |
4.18 |
17.53 |
| 9. |
Profit
before provisions and contingencies |
74.11 |
58.08 |
37.90 |
29.41 |
124.60 |
| 10. |
Provisions
and contingencies |
30.01 |
28.02 |
14.05 |
16.09 |
61.24 |
| 11. |
Net
Profit |
44.10 |
30.06 |
23.85 |
13.32 |
63.36 |
| 12. |
Paid
up Equity Share Capital |
165.00 |
165.00 |
165.00 |
165.00 |
165.00 |
| 13. |
Reserves
(excluding Revaluation Reserves) |
187.43 |
131.81 |
187.43 |
131.81 |
143.33 |
| 14. |
Total
deposits |
6,579.70 |
4,430.51 |
6,579.70 |
4,430.51 |
6,072.94 |
| 15. |
Total
advances |
2,241.04 |
1,461.49 |
2,241.04 |
1,461.49 |
2,110.12 |
| 16. |
Credit-like
corporate debt instruments |
1,174.03 |
482.96 |
1.174.03 |
482.96 |
1,277.48 |
|
Notes :
- Depreciation on Investments and Provision
on bad debts have been made as per guidelines of the Reserve Bank
of India.
- The Bank has identified and addressed
the risks to its operations arising out of the Year 2000 (Y2K) problem.
All critical internal technology systems in the Bank are Y2K ready.
A business continuity plan has been prepared to ensure that the mission-critical
operations of the Bank will be carried out and customer interests
will be fully protected in case of failure of utility services, etc.
The expenditure for addressing Y2K issues for the current financial
year is estimated at Rs. 50 lakhs.
- Pursuant to a fresh Certificate of Incorporation
dated September 10, 1999 issued by the Registar of Companies, Gujarat,
Dadra and Nagar Haveli, the name of the Bank has changed from
ICICI Banking Corporation Limited to ICICI Bank Limited. The
change of name to 'ICICI Bank Limited' does not suggest to any new
line of business being undertaken/to be undertaken by the Bank consequent
upon the change of name.
- The above results have been taken on
record by the Board of Directors of the Bank at its meeting held on
October 27, 1999.
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