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UTI Bank Limited (UTI)

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Monday 17 October, 2005

UTI Bank Limited

Quarterly Results - Q2 FY 06

UTI Bank Limited
17 October 2005

                                    UTI Bank

  Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden,
                                  Ellisbridge,

                              Ahmedabad - 380 006.

UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2005 

Rs. In crores 

                                                                                                                      
       PARTICULARS        FOR THE QUARTER     FOR THE QUARTER       FOR THE            FOR THE         FOR THE YEAR   
                               ENDED              ENDED          HALF YEAR ENDED    HALF YEAR ENDED        ENDED      
                             30.09.2005         30.09.2004         30.09.2005         30.09.2004        31.03.2005    
                            (Unaudited)        (Unaudited)        (Unaudited)        (Unaudited)         (Audited)    
                                    
1.     Interest earned                                                                                                
       (a)+(b)+(c)+(d)         687.60             449.31            1,309.44            876.86           1,924.16       
                                                                               
  (a) Interest/discount        354.06             227.06             675.21             447.31            978.77      
  on advances/bills                                                                                                   

  (b) Income on                319.40             195.28             605.40             380.83            867.60      
  Investments                                                                                                         

  (c) Interest on               8.48               9.32              17.09              17.94              32.04      
  balances with Reserve                                                                                               
  Bank of India and                                                                                                   
  other inter-bank                                                                                                    
  funds                                                                                                               

  (d) Others                    5.66              17.65              11.74              30.78              45.75      

  2. Other Income              178.13             (3.59)             328.14             106.49            415.82      

  A. TOTAL INCOME (1+2)        865.73             445.72            1,637.58            983.35           2,339.98     

  3. Interest Expended         432.15             268.59             831.51             529.00           1,192.98     

  4. Operating expenses        197.50             138.74             366.51             268.13            581.38      
  (e)+(f)                                                                                                             

  (e) Payments to and          62.32              41.38              115.50             80.17             176.85      
  provisions for                                                                                                      
  employees                                                                                                           

  (f) Other operating          135.18             97.36              251.01             187.96            404.53      
  expenses                                                                                                            

  B. TOTAL EXPENDITURE         629.65             407.33            1,198.02            797.13           1,774.36     
  (3)+(4) (Excluding                                                                                                  
  Provisions and                                                                                                      
  Contingencies)                                                                                                      

  C. OPERATING PROFIT          236.08             38.39              439.56             186.22            565.62      
  (A-B) (Profit before                                                                                                
  Provisions and                                                                                                      
  Contingencies)                                                                                                      

  D. Other Provisions          71.62             (34.78)             135.16              5.93              61.92      
  and Contingencies            
  (Net)                                                                                                               

  - of which provisions        53.39              (2.51)             96.48               2.49              3.04         
  for Non-performing                                                                                                  
  assets                                                                                                              

  E. Provision for             55.45              26.95              102.76             63.40             169.12      
  Taxes                                                                                                               

  F. Net Profit (C-D-E)        109.01             46.22              201.64             116.89            334.58      

  5. Paid-up equity            278.46             232.56             278.46             232.56            273.80      
  share capital                                                                                                       

  6. Reserves excluding                                                                                               
  revaluation reserves                                                                                   2,134.39     
  (as per balance sheet                                                                                               
  of previous                                                                                                         
  accounting year)                                                                                                    

  7. Analytical Ratios                                                                                                

  (i) Percentage of             NIL                NIL                NIL                NIL                NIL       
  Shares held by                                                                                                      
  Government of India                                                                                                 

  (ii) Capital Adequacy        11.77%             10.67%             11.77%             10.67%            12.66%      
  Ratio                                                                                                               

  (iii) Earnings per                                                                                                  
  Share for the period          
  / year                              
                                                                                                                      
  * Basic                       3.93               1.99               7.27               5.03              14.32        
                                                                                   
  * Diluted                     3.86               1.96               7.15               4.97              14.06        
                                                                             
  (iv) (a) Amount of           431.33             339.28             431.33             339.28            324.77      
  Gross Non-performing                                                                                                
  assets                                                                                                              

  (b) Amount of Net            257.05             176.38             257.05             176.38            226.08      
  Non-performing assets                                                                                               

  (c) % of Gross NPAs           1.72               2.53               1.72               2.53              1.53       

  (d) % of Net NPAs             1.03               1.33               1.03               1.33              1.07       

  (e) Return on Assets          1.09               0.73               1.07               0.97              1.21       
  (annualized)                                                                                                        

  8. Aggregate  Non-promoter                                 
  shareholding                               
                                                                                                                
  * Number of shares     201,210,913        155,311,367        201,210,913        155,311,367        196,551,374        
                                                                 
  * Percentage of             72.26%             66.78%             72.26%             66.78%             71.79%        
    shareholding                                                                                                        
      
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. '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. 

3. 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 half-year ended 30th September, 2005 is higher by Rs. 3.97 crores. 

4. Disclosure about investor complaints: 

                                                                                                                      
   Complaints at the beginning      Received during the       Disposed off during the    Unresolved as on 30.09.2005  
         of the quarter                   quarter                     quarter                                         
               7                            184                         183                           8*              

* Resolved in the first week of October, 2005 

5. These results for the half-year ended 30th September, 2005, have been subjected to a 'Limited Review' by the
Statutory Auditors of the Bank. 
 
6. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with
current quarter figures. 
 
 
Place :     Mumbai                         P.J. NAYAK 
Date :      14.10.2005                     CHAIRMAN & MANAGING DIRECTOR 

www.utibank.com 
 

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            The company news service from the London Stock Exchange           FIDIILDLIE