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UTI Bank Limited (UTI)

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Monday 16 January, 2006

UTI Bank Limited

Results for the Q3 & 9M FY06

UTI Bank Limited
14 January 2006

                                    UTI Bank

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

                              Ahmedabad - 380 006.

     UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST DECEMBER, 2005


Rs. In crores


                                                                                                                   
       PARTICULARS        FOR THE QUARTER    FOR THE QUARTER        FOR THE            FOR THE         FOR THE YEAR   
                               ENDED              ENDED            NINE MONTHS        NINE MONTHS          ENDED      
                             31.12.2005         31.12.2004      ENDED 31.12.2005   ENDED 31.12.2004     31.03.2005    
                            (Unaudited)        (Unaudited)        (Unaudited)        (Unaudited)         (Audited) 

  1. Interest earned           746.70             491.25            2,056.14           1,368.11          1,924.16     
  (a)+(b)+(c)+(d)                                                                                                     
  (a) Interest/discount        393.19             244.80            1,068.40            692.11            978.77      
  on advances/bills                                                                                                   
  (b) Income on                335.84             233.44             941.24             614.27            867.60      
  Investments                                                                                                         
  (c) Interest on              11.10               6.53              28.19              24.47              32.04      
  balances with Reserve                                                                                               
  Bank of India and                                                                                                   
  other inter-bank                                                                                                    
  funds                                                                                                               
  (d) Others                    6.57               6.48              18.31              37.26              45.75      
  2. Other Income              173.42             142.96             501.56             249.45            415.82      
  A. TOTAL INCOME (1+2)        920.12             634.21            2,557.70           1,617.56          2,339.98     
  3. Interest Expended         459.26             304.22            1,290.77            833.22           1,192.98     
  4. Operating expenses        204.66             150.54             571.17             418.67            581.38      
  (e)+(f)                                                                                                             
  (e) Payments to and          62.23              49.93              177.73             130.10            176.85      
  provisions for                                                                                                      
  employees                                                                                                           
  (f) Other operating          142.43             100.61             393.44             288.57            404.53      
  expenses                                                                                                            
  B. TOTAL EXPENDITURE         663.92             454.76            1,861.94           1,251.89          1,774.36     
  (3)+(4) (Excluding                                                                                                  
  Provisions and                                                                                                      
  Contingencies)                                                                                                      
  C. OPERATING PROFIT          256.20             179.45             695.76             365.67            565.62      
  (A-B) (Profit before                                                                                                
  Provisions and                                                                                                      
  Contingencies)                                                                                                      
  D. Other Provisions          59.20              31.73              194.36             37.66              61.92      
  and Contingencies                    
  (Net)                                                                                                               
  - of which provisions         9.22               2.64              105.70              5.13              3.04         
  for Non-performing                                                                                                  
  assets                                                                                                              
  E. Provision for             65.29              46.57              168.05             109.97            169.12      
  Taxes                                                                                                               
  F. Net Profit (C-D-E)        131.71             101.15             333.35             218.04            334.58      
  5. Paid-up equity            278.57             232.82             278.57             232.82            273.80      
  share capital                                                                                                       
  6. Reserves excluding                                                                                  2,134.39     
  revaluation reserves                                                                                                
  (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        11.58%             9.38%              11.58%             9.38%             12.66%      
  Ratio                                                                                                               
  (iii) Earnings per                                                                                                  
  Share for the period                
  / year                              
                                                                                                                      
  * Basic                       4.74               4.35              12.00               9.38              14.32        
  * Diluted                     4.65               4.30              11.78               9.26              14.06        
                                                                             
  (iv) (a) Amount of           431.84             377.79             431.84             377.79            324.77      
  Gross Non -performing                                                                                               
  assets                                                                                                              
  (b) Amount of Net            248.46             216.28             248.46             216.28            226.08      
  Non-performing assets                                                                                               
  (c) % of Gross NPAs           1.63               2.26               1.63               2.26              1.53       
  (d) % of Net NPAs             0.95               1.30               0.95               1.30              1.07       
  (e) Return on Assets          1.24               1.40               1.13               1.13              1.21       
  (annualized)                                                                                                        
  8. Aggregate                                                                                                        
  Non-promoter                
  shareholding                       
  - Number of shares        201,325,930        155,574,430        201,325,930        155,574,430        196,551,374     
  - Percentage of                                                                                                     
  shareholding                 72.27%             66.82%             72.27%             66.82%            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. '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 nine
        months ended 31st December, 2005 is higher by Rs. 5.46 crores.

        4. Pursuant to the change in provisioning requirement for standard
        assets from 0.25% to 0.40% as notified by RBI through its circular dated
        4th November 2005, the Bank has made an additional provision of Rs.
        25.20 crores during the quarter ended 31st December, 2005.

        5. Disclosure about investor complaints:

        Complaints at the     Received during    Disposed off     Unresolved as           
        beginning             the quarter        during the       on  
        of the quarter                           quarter          31.12.2005
                                                                                                    
              8                  140               143                5*              


            * Resolved in the first week of January 2006

        6. These results for the nine months ended 31st December, 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 : 13.01.2006                     CHAIRMAN & MANAGING DIRECTOR 
www.utibank.com 

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