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Unaudited Financial Results for the Quarter & Half Year ended 30th September, 2011

(Rs. In lakhs)

 

 PARTICULARS

Quarter Ended

Quarter Ended (Reviewed)

Half Year Ended

Half Year Ended (Reviewed)

 Year Ended (Audited)

30.09.2011

30.09.2010

30.09.2011

30.09.2010

 31.03.2011

1.

Interest Earned
(a) + (b) + (c) +(d)

389334

263691

744317

504005

1101469

(a) Interest/discount on advances/bills 296141 198404 566077 379471 827417
(b) Income on investments 90723 63082 174142 121244 267027
(c) Interest on Balances with Reserve Bank of India and other inter bank funds 2012 1430 3623 2225 5469
(d) Others 458 776 475 1065 1556

2.

 Other Income 30920 34474 59513 64330 137041

3

TOTAL INCOME
(1)+(2)

420254

298166

803830

568335

1238510

4

 Interest Expended 257510 166772 494939 322051 699222

5

 Operating Expenses  (i) + (ii) 67814 53241 125000 97673 233830
(i)  Employees  Cost 46747 35035 84966 63563 155762
(ii) Other operating expenses ( All items exeeeding 10% of the total expenditure excluding interest expenditure may be shown separately) 21067 18206 40034 34110 78068

6

Total Expenditure (4+5) excluding Provisions and Contigencies

325324

220013

619939

419724

933052

7

Operating Profit before Provisions and contingencies (3-6)

94930

78153

183891

148612

305458

8

 Provisions ( other than tax) and Contingencies 41166 27144 73133 42249 112387

9

 Exceptional Items 0 0 0 0 0

10

Profit (+)/ Loss (-) from Ordinary Activities before tax (7-8-9)

53764

51009

110758

106363

193071

11

 Tax Expenses 4962 10752 20144 31391 50760

12

Net Profit (+)/Loss(-)from Ordinary Activities after tax (10-11)

48802

40256

90614

74971

142311

13

 Extraordinary Items (net of tax expenses) 0 0 0 0 0

14

 Net Profit(+)/Loss(-)  for the period (12-13)

48802

40256

90614

74971

142311

15  Paid-up equity share capital  (Face Value @ Rs. 10 per Share) 47622 44670 47622 44670 47622
16 Reserves excluding Revaluation Reserves (as per balance sheet of previous accounting year) 716693 543756 716693 543756 716693

17

 Analytical Ratios
(i) Percentage of shares held by Government of India 58.00 55.23 58.00 55.23 58.00
(ii) Capital Adequacy Ratio (%)  12.99 13.49 12.99 13.49 12.96
(iii) Earning per share (EPS) (Rs.)     
a. Basic and diluted EPS before Extraordinary items( Net Of Tax expense) for the period, for the year to date and for the previous year(Not Annualised) 10.25 9.01 19.03 16.78 31.85
b. Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (Not Annualised) 10.25 9.01 19.03 16.78 31.85
(iv) NPA Ratios                    a)  (i) Gross NPA 171517 147027 171517 147027 164792
  (ii) Net NPA 66412 45650 66412 45650 73637
(b) (i) % of Gross NPA 1.77 1.77 1.77 1.77 1.74
   (ii) % Net NPA 0.69 0.56 0.69 0.56 0.79
(c) Return on Assets (Annualised) 1.24 1.28 1.19 1.22 1.11
18 Public Shareholding
  -- Number of shares 200000000 200000000 200000000 200000000 200000000.00
  --Percentage of share holding 42.00 44.77 42.00 44.77 42.00
19 Promoters and Promoter Group Shareholding  276215418 246700000 276215418 246700000 276215418
a) Pledged/Encumbered
    - Number of Shares NIL NIL NIL NIL NIL
    -Percentage of Share (as a % of the total shareholding of promoter and promoter group) NIL NIL NIL NIL NIL
    -Percentage of Share (as a % of the total share capital of the Bank) NIL NIL NIL NIL NIL
b)  Non-encumbered
    - No of Shares 276215418 246700000 276215418 246700000 276215418
    -Percentage of Share (as a % of the total shareholding of promoter and promoter group) 100 100 100 100 100
    -Percentage of Share (as a % of the total share capital of the Bank) 58.00 55.23 58.00 55.23 58.00

Notes on Accounts forming part of Reviewed Un-audited Financial Results For the Quarter and Half Year Ended 30th September, 2011

  1. The Bank is following the same Accounting Policies in preparation of these results as were followed in the annual financial statements for the year ended 31st March, 2011.
  2. The working results for the Quarter and Half Year ended September, 2011 have been arrived at after considering provisions for Non-performing assets, Standard Assets and Investment Depreciation on the basis of prudential norms issued by Reserve Bank of India. Income Tax, Deferred tax and other usual and necessary provisions including employee benefits have been made on estimated / proportionate basis and are subject to adjustment at the year-end.
  3. At some branches reconciliation of accounts relating to Balances with Banks and NOSTRO accounts are in progress. Since substantial progress has been made in the above areas the management is of the view that the impact of reconciliation, if any, on the accounts of the Bank will not be material.
  4. The above financial results have been approved and taken on record by the Board of Directors in its meeting held on 2nd of November,2011 and has been subjected to Limited Review by the Statutory Central Auditors, as per the Listing Agreement.
  5. In terms of the provisions of circular DBOD No. BP.BC. 80/21.4.018/2010-11 dated 9th February, 2011 issued on reopening Pension Option to employees of Public Sector Banks and enhancement in Gratuity Limits – Prudential Regulatory Treatment-,Rs. 149.54 Crores is required to be amortised during the year. The provision for Pension and Gratuity for the half year includes Rs. 74.80 Crores (corresponding previous half year – NIL) being one half of Rs. 149.54 Crores.
  6. The figures of previous period have been regrouped and reclassified wherever necessary in order to make them comparable.
  7. Provision coverage ratio as on 30th September,2011 is 79.58%.
  8. Status of Investor’s Complaints:
    As on 1st July, 2011, the Bank had no pending investor’s complaints. During the quarter, the Bank received 425 nos of complaints, which were suitably resolved and no complaint was pending as on 30th September, 2011.
  9. Statement of Assets and Liabilities:

    Rs. in lacs

    Particulars

    As on 30.09.2011

    As on 30.09.2010

     Capital and Liabilities:

     

     

     Capital

    47622

     44670

     Reserve and Surplus

    895247

    705339 

     Deposits

    14204319

    11363316 

     Borrowings

    871398

    731841 

     Other Liabilities

    371496

    311366 

     Total

    16390082

    13156532 

    Assets:

     Cash and Balances with Reserve Bank of India

    875075

    667807 

     Balances with Bank and Money at Call and Short Notice

    594162

    151440 

     Investments

    5038316

    3876492 

     Advances

    9571695

    8208811 

     Fixed Assets

    115724

    112803 

     Other Assets

    195110

    139179 

    Total

    16390082

    13156532 

 

SEGMENT- WISE REVENUE, RESULTS, AND CAPITAL EMPLOYED FOR THE QUARTER & HALF YEAR ENDED 30-09-2011

Rs. in lakhs

Particulars

Quarter ended

Half Year ended

Year ended

        September 2011

(Reviewed) September 2010 

        September 2011

(Reviewed) September 2010 

(Audited)    31-03-2011      

PART -A Business Segment

a) Segment Revenue

          
i) Treasury Operations 98274 70225 186247 139350 298370
ii) Corporate/Wholesale Banking 201573 134204 384295 253891 574627
iii) Retail Banking 115691 84480 223237 161430 331165
iv) Other Banking Business (Unallocated) 4715 9257 10051 13664 34348

Total

420253

298166

803830

568335

1238510
Less : Inter Segment Revenue 0 0 0 0 0

Net Sales/Income from Operation

420253

298167

803830

568335

1238510

b) Segment Results (Profit)

          
i) Treasury  775 5413 7331 10594 26107
ii) Corporate/Wholesale Banking 46187 27889 79273 57271 116449
iii) Retail Banking 43675 36470 88094 68344 132078
iv) Other Banking Business (Unallocated) 4293 8381 9194 12403 30824

Total Operating Profit

94930

78153

183892

148611

305458
Less : 
i) Interest 0 0 0 0 0.00
ii)Other Un-allocable Expenditure  41166 27144 73134 42248 112387
iii)Other Un-allocable income  0 0 0 0 0.00

Total Profit  Before Tax 

53764

51009

110758

106363

193071

c) Capital Employed

          

Segment Assets-Segmant liabilities

          
i) Treasury  259196 191669 259196 191669 215542
ii) Corporate/Wholesale Banking 407682 313842 407682 313842 378179
iii) Retail Banking 160267 131695 160267 131695 142195
iv) Other Banking Business 0 0 0 0 0
v) Unallocated Assets  115724 112803 115724 112803 114823

Total Capital Employed

942869

750009

942869

750009

850739

PART -  B
Geographic Segment

  

a. Revenue
i. Domestic 416326 296758 796811 565710 1231408
ii. International 3927 1409 7019 2625 7102
iii. Total

420253

298167

803830

568335

1238510

b. Assets
i. Domestic 15811183 12904981 15811183 12904981 14765656
ii. International 578899 251551 578899 251551 362979
iii. Total

16390082

13156532

16390082

13156532

15128635

LIMITED REVIEW REPORT ON THE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2011

To
The Board of Directors,
Allahabad Bank,
Kolkata.
  1. We have reviewed the accompanying statement of unaudited financial results of Allahabad Bank for the Quarter and Half Year ended 30th September, 2011 except for the disclosures regarding ‘Public Shareholding’ and ‘Promoter and Promoter Group Shareholding’ which have been traced from disclosures made by the management and have not been audited by us. This statement is the responsibility of the Bank’s Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.
  2. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, Engagements to Review Financial Statements issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of Banks personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
  3. In the conduct of our Review we have reviewed 20 branches and relied on the review reports in respect of non-performing assets received from concurrent auditors of 20 branches. These review reports cover 58.57 percent of the advances portfolio of the Bank. Apart from these review reports, in the conduct of our review, we have also relied upon various returns received from the branches and consolidated return from Head Office of the Bank.
  4. Attention is drawn to Note No.3 of “Notes on Accounts” in respect of pending reconciliation of accounts relating to Balances with Banks and NOSTRO accounts are in progress.
  5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Clause 41 of the Listing Agreement including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition , asset classification, provisioning and other related matters.

 

DIRECTORS

(J.P.DUA)
Chairman & Managing Director

(Rajesh M. Chaturvedi)
Director

(D.Sarkar)
Executive Director

 

(M.R.Nayak)
Executive Director

(A.B.Bhattacharjee)
General Manager
(Finance, Accounts & CFO)

 

(B. K. Sahoo)
Chief Manager (F&A)

In terms of our review report of even date
For M/S Sudit K Parekh & Co.
Chartered Accountants		  For M/S. P. A. Associates
Chartered Accountants
(D. S. Khatri)
Partner
Membership No. - 016316
Firm ICAI Regn. No.110512W		 (P. S. Panda)
Partner
Membership No. - 51092
Firm ICAI Regn. No.313085E
For M/S. M. R. Narain & Co.
Chartered Accountants		 For M/S. S. Ghose & Co.
Chartered Accountants
(M. Prabakar)
Partner
Membership No. -201987
Firm ICAI Regn. No.002330S		 (B. K. Sarkar)
Partner
Membership No. - 015774
Firm ICAI Regn. No.302184E
For M/S. K. M. Agarwal & Co.
Chartered Accountants		 For M/S. M. C. Jain & Co.
Chartered Accountants
( Meenakshi Gupta)
Partner
Membership No. - 092834
Firm ICAI Regn. No.0853N		 (Mukesh Kr. Patawari)
Partner
Membership No. - 056623
Firm ICAI Regn. No.304012E

 

Place: Kolkata
Date: 02.11.2011

 
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