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Press Release
October 25, 2001
Audited Financial Results
For The Half-year Ended September 30, 2001
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Sr.
No.
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Particulars
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Three
months Ended
|
Half-year
Ended
|
Year
Ended March 31, 2001
|
|
Sept
30, 2001
|
Sept
30, 2001
|
Sept
30, 2001
|
Sept
30, 2001
|
|
1.
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Interest earned
(a)+(b)+(c)+(d)
|
464.96
|
287.34
|
933
|
570.90
|
1,242.13
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|
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a) Interest/discount
on advances/bills
|
195.20
|
131.35
|
384.86
|
249.85
|
570.91
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|
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b) Income on
investments
|
243.55
|
124.78
|
482.59
|
251.71
|
555.73
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|
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c) Interest on
balances with Reserve Bank of India and other interbank funds
|
23.21
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30.68
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56.12
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67.87
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108.67
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d) Others
|
2.73
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0.53
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9.43
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1.47
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6.82
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2.
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Other Income
|
95.11
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34.12
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222.29
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65.35
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220.01
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A) TOTAL INCOME
(1) + (2)
|
559.80
|
321.46
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1155.29
|
636.25
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1,462.14
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3.
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Interest Expended
|
323.58
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191.36
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642.19
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389.55
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837.67
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4.
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Operating Expenses
(e) + (f)
|
139.26
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71.56
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277.47
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126.29
|
334.30
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e) Payments to
and provisions for employees
|
34.36
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11.29
|
67.08
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23.32
|
51.71
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|
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f) Other operating
expenses
|
104.9
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60.27
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210.39
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102.97
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282.59
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B) TOTAL EXPENDITURE
(3)+ (4)
(excluding provisions
and contingencies)
|
462.84
|
262.92
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919.66
|
515.84
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1,171.97
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5.
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OPERATING PROFIT
(A-B)
(Profit before provisions
and contingencies)
|
96.96
|
58.54
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235.63
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120.41
|
290.17
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6.
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Other provision
and contingencies (net)
|
1.25
|
22.43
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46.91
|
36.50
|
63.65
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7.
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Provision
for taxes |
29.56
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6.05
|
57.32
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13.71
|
65.42
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8.
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F) Net Profit
(5-6-7)
|
66.15
|
30.06
|
131.40
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70.20
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161.10
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9.
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Paid-up equity
share capital
|
220.36
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196.82
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220.36
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196.82
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220.36
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10.
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Reserves excluding
revaluation reserves
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12223.66
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1022.89
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1,223.66
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1,022.89
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1,092.26
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11.
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Analytical Ratios
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(i) Percentage
of shares held by Government of India
|
..
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..
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..
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..
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..
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(ii) Capital
Adequacy Ratio
|
13.00%
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17.59%
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13.00%
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17.59%
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11.57%
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(iii) Earnings
per share for the period/year (in Rs.) (basic and diluted)
|
3
|
1.53
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5.96
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3.57
|
8.13
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12.
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Aggregate of
Non-Promoter Shareholding
|
|
|
|
|
|
|
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No. of shares
|
118962731
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74313080
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11,89,62,731
|
7,43,13,080
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11,68,16,231
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Percentage of
shareholding
|
53.99%
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37.76%
|
53.99
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37.76
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53.01
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Note:
- The results for the current year include the results of erstwhile
Bank of Madura on their merger with us effective March 10, 2001. The
results are not therefore comparable with earlier periods
- Provision for taxes has been arrived at as per Accounting Standard
22
- Net non-performing assets to net advances (including credit substitutes)
is 1.41 % (Year ended March 31, 2001 1.44 % )
- Bank has raised subordinated debt towards Tier II capital for Rs.
227 crores in July 2001
Financial results under US GAAP accounting (Rupees
in crores)
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Particulars
|
Three
months ended (unaudited)
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Half-year
ended (unaudited)
|
Year
ended (audited)
|
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Sept
30, 2001
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Sept
30, 2001
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Sept
30, 2001
|
Sept
30, 2001
|
Mar
31, 2001
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| Net
income under US GAAP |
57.26
|
16.08
|
113.46
|
60.68
|
130.84
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| Reconciliation
between US GAAP and Accounting Standards followed in India |
| Profit
under Indian GAAP |
66.15
|
30.06
|
131.40
|
70.20
|
161.10
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| Deferred
taxation |
13.56
|
17.30
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9.32
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18.40
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44.21
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| Loan
impairment |
(16.60)
|
(2.67)
|
(18.80)
|
(6.63)
|
(39.53)
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| Mark
to Market impact on investments |
(6.78)
|
(32.17)
|
(8.99)
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(28.28)
|
(40.59)
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| ADR
Issue expenditure charged to P & L A/c |
3.06
|
2.93
|
5.61
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5.38
|
10.47
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| Others |
(2.13)
|
0.63
|
(5.08)
|
1.61
|
(4.82)
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| Profit
under US GAAP |
57.26
|
16.08
|
113.46
|
60.68
|
130.84
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The above financial results have been taken on
record by the Board of Directors of the Bank at its meeting held on October
25 2001
Place: Mumbai
Date: October 25 2001 |
H.N.Sinor
Managing Director &
Chief Executive Officer
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