Information  X 
Enter a valid email address

UTI Bank Limited (UTI)

  Print      Mail a friend

Tuesday 18 April, 2006

UTI Bank Limited

Annual Report and Accounts

UTI Bank Limited
17 April 2006

                                                                      Annexure I

UTI Bank

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

                              Ahmedabad - 380 006.



      AUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2006



   Rs. In crores
                                                       (1)             (2)             (3)             (4)
                                                 For the quarter For the quarter  For the year    For the year
                  PARTICULARS                         ended           ended           ended           ended
                                                   31.03.2006      31.03.2005      31.03.2006      31.03.2005
                                                 (Unaudited)     (Unaudited)       (Audited)       (Audited)

1.        Interest earned (a)+(b)+(c)+(d)            832.65          556.05         2,888.79        1,924.16
(a)    Interest/discount on advances/bills           459.64          286.66         1,528.04         978.77
(b)    Income on Investments                         344.44          253.33         1,285.68         867.60
(c)     Interest on balances with Reserve Bank
of India and other inter-bank funds
                                                      13.45           7.57            41.64           32.04
(d)    Others                                         15.12           8.49            33.43           45.75
2.        Other Income                               228.07          166.37          729.63          415.82
A.       TOTAL INCOME (1+2)                         1,060.72         722.42         3,618.42        2,339.98
3.        Interest Expended                          519.79          359.76         1,810.56        1,192.98
4.        Operating expenses (e)+(f)                 242.88          162.71          814.05          581.38
(e)     Payments to and provisions for employees      62.47           46.75          240.20          176.85
(f)       Other operating expenses                   180.41          115.96          573.85          404.53
B.        TOTAL EXPENDITURE (3)+(4) (Excluding
Provisions and Contingencies)
                                                     762.67          522.47         2,624.61        1,774.36
C.      OPERATING PROFIT (A-B) (Profit before
Provisions and Contingencies)
                                                     298.05          199.95          993.81          565.62
D.       Other Provisions and Contingencies           68.16           24.26          262.52           61.92
(Net)
                                                      21.36          (2.09)          127.06           3.04
- of which provisions for Non-performing assets
E.        Provision for Taxes                         78.16           59.15          246.21          169.12
F.        Net Profit (C-D-E)                         151.73          116.54          485.08          334.58
5.        Paid-up equity share capital               278.69          273.80          278.69          273.80
6.        Reserves excluding revaluation                                            2,593.50        2,134.39
reserves
7.        Analytical Ratios
     (i)        Percentage of Shares held by
Government of India
                                                       NIL             NIL             NIL             NIL
    (ii)        Capital Adequacy Ratio               11.08%          12.66%          11.08%          12.66%
   (iii)        Earnings per Share for the
period / year
                                                      5.46            4.99            17.45           14.32
-          Basic
                                                      5.34            4.90            17.08           14.06
-          Diluted
 (iv)    (a) Amount of Gross Non-performing          377.95          324.77          377.95          324.77
assets
   (b) Amount of Net Non-performing assets           219.83          226.08          219.83          226.08
         (c) % of Gross NPAs                          1.28            1.53            1.28            1.53
         (d) % of Net NPAs                            0.75            1.07            0.75            1.07
        (e) Return on Assets (annualized)             1.32            1.39            1.18            1.21
8.         Aggregate Non-promoter shareholding

-          Number of shares                        201,445,657     196,551,374     201,445,657     196,551,374

-          Percentage of shareholding                72.28%          71.79%          72.28%          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.        The Board of Directors has recommended a dividend of Rs. 3.50 per
share (35%) for the year ended 31st March, 2006 (previous year Rs.2.80 per share
(28%)), subject to the approval of the members at the ensuing Annual General
Meeting.


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 year ended ended  31st
March , 2006 is higher by Rs. 6.74 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. 27.88 crores during the
year ended 31st March, 2006.


5.        Disclosure about investor complaints:


  Complaints at the             Received             Disposed off during the      Unresolved as on
  beginning of the                                           quarter                 31.03.2006
       quarter              during the quarter
          5                        98                          102                       1*

* Resolved in the first week of April, 2006


6.        Previous year's figures have been regrouped and reclassified, where
necessary, to make them comparable with current year's figures.



    Place : Mumbai                     P.J. NAYAK

    Date :  17.04.2006          CHAIRMAN & MANAGING DIRECTOR

www.utibank.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange