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UTI Bank Limited (UTI)

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Friday 15 July, 2005

UTI Bank Limited

UNAUDITED RESULTS FOR Q1 FY06

UTI Bank Limited
14 July 2005




                                        UTI Bank
  Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden,
                                  Ellisbridge,
                              Ahmedabad - 380 006.

                 UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2005

                                                                                                Rs. In crores

                                                   FOR THE QUARTER     FOR THE QUARTER   FOR THE YEAR ENDED
                  PARTICULARS                           ENDED               ENDED           31.03.2005
                                                     30.06.2005          30.06.2004
                                                    (Unaudited)         (Unaudited)         (Audited)

1.        Interest earned (a)+(b)+(c)+(d)              621.84              427.55             1,924.16
(a)    Interest/discount on advances/bills             321.15              220.25              978.77
(b)    Income on Investments                           275.08              159.66              786.87
(c)     Interest on balances with Reserve Bank
of India and other inter-bank funds                      8.61                8.62               32.04
(d)    Others                                           17.00               39.02              126.48
2.        Other Income                                 150.01              110.08              415.82
A.       TOTAL INCOME (1+2)                            771.85              537.63             2,339.98
3.        Interest Expended                            399.36              260.41             1,192.98
4.        Operating expenses (e)+(f)                   169.01              129.39              581.38
(e)     Payments to and provisions for employees        53.18               38.79              176.85
(f)       Other operating expenses                     115.83               90.60              404.53
B.        TOTAL EXPENDITURE (3)+(4) (Excluding
Provisions and Contingencies)
                                                       568.37              389.80             1,774.36
C.      OPERATING PROFIT (A-B) (Profit before
Provisions and Contingencies)
                                                       203.48              147.83              565.62
D.       Other Provisions and Contingencies             63.54               40.71              61.92
(Net)                                                   43.09               5.00                3.04
- of which provisions for Non-performing assets
E.        Provision for Taxes                           47.31               36.45              169.12
F.        Net Profit (C-D-E)                            92.63               70.67              334.58
5.        Paid-up equity share capital                 278.12              232.30              273.80
6.        Reserves excluding revaluation                                                      2,134.39
reserves     (as per balance sheet of previous
accounting year)
7.        Analytical Ratios
     (i)        Percentage of Shares held by
Government of India
                                                         NIL                 NIL                NIL
    (ii)        Capital Adequacy Ratio                 11.74%              11.11%              12.66%
   (iii)        Earnings per Share for the
period / year
                                                        3.35                3.05               14.32
-          Basic
                                                        3.30                3.00               14.06
-          Diluted
 (iv)    (a) Amount of Gross Non-performing            406.91              307.82              324.77
assets
   (b) Amount of Net Non-performing assets             265.14              142.38              226.08
         (c) % of Gross NPAs                            1.82                2.47                1.53
         (d) % of Net NPAs                              1.19                1.16                1.07
        (e) Return on Assets (annualized)               1.05                1.22                1.21
8.         Aggregate Non-promoter shareholding

-          Number of shares                          200,878,795         155,053,165        196,551,374

-          Percentage of shareholding                  72.23%              66.75%              71.79%




Notes :

1.        The results above have been taken on record by the Board of Directors
of the Bank at its meeting held at Mumbai today.



2.        During the quarter, pursuant to the exercise of the green shoe option
in the form of 3,000,700 Global Depository Receipts (GDRs) (each GDR
representing 1 underlying equity share of Rs. 10/- each), at a price of US$5.91
per GDR, the share capital of the Bank has increased by Rs. 3.00 crores and the
reserves have increased by Rs. 70.24 crores, after charging off issue related
expenses.



3.        'Other income' includes gains from securities' transactions,
commission earned from guarantees/letters of credit, fees earned from providing
services to customers, selling of third party products and ATM sharing fees.



4.        With effect from 1st April, 2005, the Bank has recognized all fee
income on accrual basis as against the earlier practice of accounting such
income on receipt basis where it is less than 1% of the total income of the
Bank. As a result of this change other income for the quarter ended 30th June,
2005 is higher by Rs. 6.28 crores.



5.        Disclosure about investor complaints:


  Complaints at the   Received  during the quarter   Disposed off during the      Unresolved as on
  beginning of the                                           quarter                 30.06.2005
       quarter
          4                        116                         113                       7*



* Resolved in the first week of July, 2005



6.        These results for the quarter ended 30th June 2005, have been
subjected to a 'Limited Review' by the Statutory Auditors of the Bank.





7.        Previous period figures have been regrouped and reclassified, where
necessary, to make them comparable with current quarter figures.




    Place : Mumbai                                     P.J. NAYAK
    Date : 14.07.2005                         CHAIRMAN & MANAGING DIRECTOR
                            www.utibank.com


                 SEGMENTAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2005


The business of the Bank has been divided into two segments as follows :-


     SEGMENT                                            PRINCIPAL ACTIVITIES

                  Treasury Operations include investments in sovereign and corporate debt, equity and mutual
                  funds, trading operations, derivative trading and foreign exchange operations on the proprietary
Treasury          account and for customers and central funding.


                  Other Banking Operations include corporate relationships, corporate advisory services,
                  placements and syndication, management of public issue, project appraisals, depositary and
Other Banking     capital market related services, cash management services, retail assets and liability products,
Operations        card services, internet banking, ATM services, financial advisory services and NRI services.


Segmental Results

                                                                                                        (Rs. in crores)

                                                      For the quarter      For the quarter    For the year ended
                                                     ended 30-06-2005     ended 30-06-2004        31-03-05

  1    Segment Revenue

  a    Treasury                                              1,216.90               713.79            3,319.95
  b    Other Banking Operations                                659.53               465.73            2,120.33
  c    Others                                                  (0.16)                 1.46              (1.18)
       Total                                                 1,876.27             1,180.98            5,439.10

       Less Inter Segment Revenue                            1,104.42               643.35            3,099.12

       Income from Operations                                  771.85               537.63            2,339.98

  2    Segment Results After Provisions & Before
       Tax

  a    Treasury                                                 89.57                41.94              191.70
  b    Other Banking Operations                                 50.56                65.72              313.29
  c    Others                                                  (0.19)               (0.54)              (1.29)
       Total Profit Before Tax                                 139.94               107.12              503.70

  3    Capital Employed

  a    Treasury                                              1,350.84               605.32            1,377.41
  b    Other Banking Operations                              1,113.27               528.08              929.63
  c    Others                                                  120.63                76.60              101.15
       Total                                                 2,584.74             1,210.00            2,408.19


Notes :

1. Previous period figures have been regrouped and reclassified, where
necessary, to make them comparable with current quarter figures.



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