Quarterly Results :
Results for Quarter
December 2005:
The Board of Directors of Allahabad Bank, at their meeting held on 24.01.06 took on
record the un-audited quarterly financial results for the third quarter ended December 31,
2005.
Core Banking operations (Advances + Deposits) of the Bank have shown a strong growth of
22.77% in Q3 on a YoY basis, while it is up by 5.06% on a sequential basis. The operating
profit for Q3, at Rs.263.54 crore, as against Rs. 236.45 crore of Q3 of last year shows a
growth of 11.46%.
Financial Data for Third Quarter ended December 31, 2005:
Profit & Loss Account
| (Rs in Crores) |
|
Q3 2005-06 |
Q3 2004-05 |
Growth (%) |
Q2 2005-06 |
Sequential Growth (%) |
|
Gross Interest Income |
945.59 |
821.76 |
15.07 |
901.84 |
4.85 |
|
Net Interest Income |
391.44 |
377.63 |
3.65 |
367.59 |
6.48 |
|
Investment Trading Profit |
28.72 |
20.21 |
42.11 |
47.62 |
-39.69 |
|
Others |
121.28 |
55.83 |
117.23 |
114.48 |
5.94 |
|
Total Income |
1095.59 |
897.80 |
22.03 |
1063.94 |
2.97 |
|
Operating Costs |
277.90 |
217.22 |
27.93 |
288.27 |
-3.60 |
|
of which: |
|
|
|
|
|
|
Staff Cost |
166.40 |
120.02 |
38.64 |
157.20 |
5.85 |
|
Rent, Taxes &
Lighting |
29.15 |
13.61 |
114.18 |
17.01 |
71.37 |
|
Depreciation |
11.21 |
8.38 |
33.77 |
11.02 |
1.72 |
|
Other Costs |
625.28 |
519.34 |
20.40 |
637.29 |
-1.88 |
|
Total Expenditure |
832.05 |
661.35 |
25.81 |
822.52 |
1.59 |
|
Operating Profit |
263.54 |
236.45 |
11.46 |
241.42 |
9.16 |
|
Other Provisions &
Contingencies |
30.85 |
106.94 |
=== |
55.85 |
=== |
|
Provision for Tax |
8.39 |
(29.74) |
=== |
17.22. |
=== |
|
Net Profit |
224.30 |
159.25 |
40.85 |
168.35 |
33.23 |
|
Paid up Equity Capital |
446.70 |
346.70 |
28.84 |
446.70 |
0 |
|
EPS (Rs.) Annualised |
20.09 |
18.37 |
9.36 |
15.07 |
33.31 |
- Other Provisions & Contingencies in Q3 FY06 at Rs. 30.85 crore (comprising Standard
Assets Provision of Rs. 20.00 crore, NPA Provisions of Rs. 3.00 crore, Investment
Depreciation of Rs. 9.37 crore and others viz., Provision for Revenue suspense, Intangible
Assets, Fraud & Forgery, (-) Rs.1.52 crore) was lower as against Rs. 106.94 crore in
Q3 FY05 and Rs. 55.85 crore in Q2 FY06. The decrease during the Q3 FY 06 over Q3 FY 05 is
mainly due to the fact that during Q3 FY05, provision for salary revision to the tune of
Rs.68.83 crore had to be made as against no requirement of provision for arrear salary
during Q3 FY 06 since arrear payment towards salary revision was made during July, 2005.
Balance Sheet
| (Rs in Crores) |
|
As on 31.12.2005 |
As on 31.12.2004 |
Growth (%) |
As on 30.9.2005 |
Sequential Growth (%) |
|
Capital &
Liabilities |
|
|
|
|
|
|
Capital |
446.70 |
346.70 |
28.84 |
446.70 |
0 |
|
Reserves &
Surplus |
3242.88 |
1666.99 |
94.54 |
3026.87 |
7.14 |
|
Deposits |
44631.30 |
38141.82 |
17.01 |
43700.51 |
2.13 |
|
Borrowings |
106.92 |
118.91 |
-10.08 |
138.24 |
-22.66 |
|
Other Liabilities
& Provisions |
2079.58 |
1956.30 |
6.30 |
2488.23 |
-16.42 |
|
Total |
50507.38 |
42230.71 |
19.60 |
49800.58 |
1.42 |
|
Assets |
|
|
|
|
|
|
Cash & Balance
with RBI |
2778.98 |
2708.63 |
2.60 |
2362.77 |
17.62 |
|
Balance with Bank and
Money at Call & Short Notice |
1299.85 |
470.14 |
176.48 |
779.72 |
66.71 |
|
Investments |
18145.93 |
17886.27 |
1.45 |
19092.90 |
-4.96 |
|
Advances |
26685.27 |
19786.40 |
34.87 |
24131.35 |
21.96 |
|
Fixed Assets |
726.82 |
359.59 |
2.12 |
732.92 |
-0.83 |
|
Other Assets |
870.53 |
1019.68 |
Negative |
2700.92 |
-67.77 |
|
Total |
50507.38 |
42230.71 |
19.60 |
49800.58 |
1.42 |
Capital at Rs. 446.70 crore as on 31.12.05 was higher by Rs. 100.00 crore compared
to Rs. 346.70 crore as on 31.12.04 due to issuances of follow on public offer in the month
of April, 2005.
- Fixed Assets at Rs. 726.82 crore on 31.12.05 was higher as against Rs.359.59 crore on
31.12.04 which is mainly due to revaluation of certain properties as on 31.3.2005
amounting to increase of Rs. 370.00 crore.
HIGHLIGHTS:
- The net profit for quarter ended December 31, 2005 stood at Rs.224.30 Cr against
Rs.159.25 Cr in the third quarter of 2004-05, registering a growth of 40.85%.
Income from Non Fund/Non Interest Business increased to Rs.65.03 crores during the
quarter ended December 2005 as against Rs.45.95 crores during the quarter ended December,
2004 registering a growth of 41.69%.
- The Bank could achieve higher profitability even after absorbing increased Staff Cost
due to wage revision and lower profit from Sale of Investment.
- Return on Asset has increased from 1.51% during Q3 of 2004-05 (December 2004) to 1.78%
during Q3 of 2005-06 (December 2005).
- The Bank could maintain steady growth in Yield on Advances at 8.86% during Q3 of 2005-06
(December 2005) against 8.70% quarter ended December 2004.
Ratio of Other Operating Expenses to Total Expenses has come down from 14.70% during
Q3 of 2004-05 (December 2004) to 13.40% during Q3 of 2005-06 (December 2005).
The Bank could reduce its Net NPA Ratio substantially to 0.83% as on 31.12.2005
against ratio of 1.48% as on 31.12.2004.
Current Deposits grew by 12.97% from Rs.3160 crores as on 30.9.2005 to Rs.3570
crores as on 31.12.2005 as against the decline of 4.26% in the corresponding quarter last
year.
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