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UTI Bank Limited (UTI)

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Friday 12 January, 2007

UTI Bank Limited

3rd Quarter Results

UTI Bank Limited
12 January 2007



BOARD MEETING OF UTI BANK TO CONSIDER UNAUDITED QUARTERLY FINANCIAL RESULTS FOR
                   THE QUARTER (Q3) ENDED 31st DECEMBER, 2006

We enclose herewith a copy of the UNAUDITED QUARTERLY FINANCIAL RESULTS FOR THE
QUARTER (Q3) ENDED 31st DECEMBER, 2006 of the Bank.

The said results are taken on record by the Board of Directors of the Bank at
its meeting held today at Mumbai.


                                     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, 2006

                                                                                                  (Rs. in crores)
                                           FOR THE        FOR THE         FOR THE         FOR THE   FOR THE YEAR
                                           QUARTER        QUARTER     NINE MONTHS     NINE MONTHS          ENDED
            PARTICULARS                      ENDED          ENDED           ENDED           ENDED
                                        31.12.2006     31.12.2005      31.12.2006      31.12.2005      31.03.2006
                                        (Unaudited)    (Unaudited)    (Unaudited)     (Unaudited)       (Audited)

1.     Interest earned (a)+(b)+           1,189.62         746.70        3,193.63        2,056.14       2,888.79
       (c)+(d)
(a)    Interest/discount on                 705.30         393.19        1,866.64        1,068.40       1,528.04
        advances/bills
(b)    Income on Investments                457.28         335.84        1,249.31          941.24       1,285.68
(c)    Interest on balances with
       Reserve Bank of India and other
       inter-bank funds                      13.51          11.10           42.59           28.19          41.64
(d)    Others                                13.53           6.57           35.09           18.31          33.43

2.     Other Income                         279.74         173.42          709.01          501.56         729.63
A.     TOTAL INCOME (1+2)                 1,469.36         920.12        3,902.64        2,557.70       3,618.42

3.     Interest Expended                    773.78         459.26        2,090.78        1,290.77       1,810.56

4.     Operating expenses (e)+(f)           336.95         204.66          871.56          571.17         814.05
(e)    Payments to and provisions           114.66          62.23          292.42          177.73         240.20
       for employees
(f)    Other operating expenses             222.29         142.43          579.14          393.44         573.85
B.     TOTAL EXPENDITURE (3)+(4)
       (Excluding Provisions and
       Contingencies)                     1,110.73         663.92        2,962.34        1,861.94       2,624.61
C.     OPERATING PROFIT (A-B)
       (Profit before Provisions and
       Contingencies)                       358.63         256.20          940.30          695.76         993.81
D.     Other Provisions and                  76.28          59.20          259.85          194.36         262.52
       Contingencies (Net)
       - of which provisions for
       Non-performing  assets                30.27           9.22           65.44          105.70         127.06
E.     Provision for Taxes                   97.74          65.29          233.31          168.05         246.21
F.     Net Profit (C-D-E)                   184.61         131.71          447.14          333.35         485.08

5.     Paid-up equity share                 281.19         278.57          281.19          278.57         278.69
       capital
                             
6.     Reserves excluding                                                                               2,593.50
       revaluation reserves (as per
       balance sheet of previous
       accounting year)

7.     Analytical Ratios
(i)    Percentage of Shares
       held by Government of India            NIL            NIL             NIL             NIL            NIL
(ii)   Capital Adequacy                     11.83%         11.58%          11.83%          11.58%         11.08%
       Ratio
(iii)  Earnings per Share
       for the period / year
       -  Basic                               6.59           4.74           15.96           12.00          17.45
       -  Diluted                             6.42           4.65           15.56           11.78          17.08
(iv)  (a) Amount of Gross                   472.25         431.84          472.25          431.84         377.95
          Non-performing assets
      (b) Amount of Net Non-performing      266.93         248.46          266.93          248.46         219.83
          assets
      (c) % of Gross NPAs                     1.20           1.63            1.20            1.63           1.28
      (d) % of Net NPAs                       0.68           0.95            0.68            0.95           0.75
      (e) Return on Assets                    1.17           1.24            1.04            1.13           1.18
          (annualized)

8.    Aggregate public
      shareholding                     
      - Number of shares               147,627,347    133,234,081     147,627,347     133,234,081    138,042,433      
      - Percentage of
        shareholding                         52.50%         47.83%          52.50%          47.83%         49.53%



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.       Pursuant to the change in provisioning requirements for certain classes
of standard assets from 0.40% to 1.00% in a phased manner as notified by RBI
through its circular dated 12th July 2006, the Bank has stepped up this
provision to 1.00% during the current quarter. As a result there has been an
impact of an additional provision of Rs.  38.58 crores during the nine months
ended 31st December, 2006.

4.       Disclosure about investor complaints:


  Complaints at the   Received  during the quarter   Disposed off during the      Unresolved as on
  beginning of the                                           quarter                 31.12.2006
       quarter
          2                        66                           67                       1*

* Resolved in the first week of January, 2007


5.       These results for the nine months ended 31st December 2006, 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.


                                      UTI BANK

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

       SEGMENT   PRINCIPAL ACTIVITIES
      Treasury   Treasury operations include investments in sovereign and corporate debt, equity and mutual
                 funds, trading operations, derivative trading and foreign exchange operations on the
                 proprietary account and for customers and central funding.
       Other     Other Banking Operations inlcude corporate relationships, corporate advisory services,
      Banking    placements and syndication, management of public issue, project appraisals, depository and
     Operations  capital market related services, cash management services, retail assets and liability
                 products, card services, internet banking, ATM services, financial advisory services and
                 NRI services.

                                Segmental Results
                                                                                           (Rs in crores)
                                          For the      For the      For the       For the  For the  year
                                          quarter      quarter  nine months   nine months          ended
                                            ended        ended        ended         ended       31-03-06
                                       31-12-2006   31-12-2005   31-12-2006    31-12-2005
                                         
         1       Segment Revenue
         A       Treasury                 2356.38      1437.65      6211.00       3989.93        5628.19
         B       Other Banking            1386.87       791.41      3626.37       2179.29        3122.17
                 Operations
         C       Others                      0.03         0.28        -0.99          0.76           1.19
                 Total                    3743.28      2229.34      9836.38       6169.98        8751.55

                 Less Inter segment       2273.92      1309.22      5933.74       3612.28        5133.13
                 revenue

                 Income from Operations   1469.36       920.12      3902.64       2557.70        3618.42

         2       Segment Results After Provisions & Before Tax

         a       Treasury                  121.07       118.73       224.94        312.96         415.54
         b       Other Banking             161.25        77.93       456.50        187.68         314.70
                 Operations
         c       Others                      0.03         0.34        -0.99          0.76           1.05
                 Total Profit Before       282.35       197.00       680.45        501.40         731.29
                 Tax

         3       Capital Employed

         a       Treasury                 1630.08      1492.08      1630.08       1492.08        1573.50
         b       Other Banking            1559.34      1240.41      1559.34       1240.41        1205.36
                 Operations
         c       Others                    132.25       97.68        132.25         97.68          93.33
                 Total                    3321.67      2830.17      3321.67       2830.17        2872.19

       Notes:

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









    Place : Mumbai                               P.J. NAYAK
    Date : 12.01.2007                            CHAIRMAN & MANAGING DIRECTOR

                               www.utibank.com


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