ICICI Bank Ltd. Performance Review -- Year Ended March 31, 2004: 36% Year-on-Year Growth in Profit after Tax.Business Editors MUMBAI Mumbai (m  mbī`, m m`bī), formerly Bombay (bŏmbā`), city (1991 pop. , India--(BUSINESS WIRE)--April 30, 2004The Board of Directors of ICICI Bank ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank in market capitalization and second largest overall in terms of assets. Limited (NYSE NYSE See: New York Stock Exchange :IBN IBN Internet Business Network IBN Institute of Bioengineering and Nanotechnology IBN Institut Belge de Normalisation IBN Islamic Broadcasting Network IBN Integrated Business Network IBN Identification Beacon IBN Isolated Bonding Network ) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the financial year ended March 31, 2004 (FY2004). The Board also approved the audited consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: accounts for the period. Highlights -- Profit after tax for FY2004 increased 36% to Rs. 1,637 crore n. 1. Ten millions; as, a crore of rupees (which is nearly $5,000,000) s>. Noun 1. crore - the number that is represented as a one followed by 7 zeros; ten million (US$ 374 million) from Rs. 1,206 crore (US$ 276 million) for the financial year ended March 31, 2003 (FY2003). -- Profit after tax for the quarter ended March 31, 2004 (Q4-2004) increased 35% to Rs. 455 crore (US$ 104 million) from Rs. 338 crore (US$ 77 million) for the quarter ended March 31, 2003 (Q4-2003). -- Net interest income increased 32% to Rs. 1,879 crore (US$ 430 million) for FY2004 from Rs. 1,424 crore (US$ 326 million) for FY2003. -- Fee income increased 39% to Rs. 1,175 crore (US$ 269 million) for FY2004 from Rs. 847 crore (US$ 194 million) for FY2003. -- Retail assets increased 74% to Rs. 33,423 crore (US$ 7.6 billion) at March 31, 2004 from Rs. 19,160 crore (US$ 4.4 billion) at March 31, 2003. -- Deposits increased 41% to Rs. 68,109 crore (US$ 15.6 billion) at March 31, 2004 from Rs. 48,169 crore (US$ 11.0 billion) at March 31, 2003. -- At March 31, 2004, the Bank's net non-performing assets constituted 2.87% of customer assets. Dividend The Board has recommended a dividend on equity share capital of 75% for FY2004. The declaration and payment of dividend is subject to the approval of Reserve Bank of India The Reserve Bank of India (RBI) is the central bank of India, and was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Since its inception, it has been headquartered in Mumbai. (RBI RBI abbr. Baseball runs batted in Noun 1. rbi - a run that is the result of the batter's performance; "he had more than 100 rbi last season" run batted in ) and the shareholders of the Bank. Operating review Credit growth The Bank maintained its growth momentum in the retail segment. The Bank's home loan disbursements during FY2004 were Rs. 13,282 crore (US$ 3.0 billion). Retail assets constituted 54% of advances and 47% of customer assets. The Bank's net customer assets at March 31, 2004 were Rs. 71,002 crore (US$ 16.2 billion). While leveraging and enhancing its strong origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real capabilities, the Bank continued to focus on securitisation of its customer assets. This has enabled the Bank to optimise optimise - To perform optimisation. resource and capital utilisation and diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. the composition of its asset portfolio. During FY2004, sell-down/ securitisation of assets was Rs. 10,700 crore (US$ 2.4 billion). Robust growth in low cost deposits The Bank's deposits increased 41% to Rs. 68,109 crore (US$ 15.6 billion) at March 31, 2004 from Rs. 48,169 crore (US$ 11.0 billion) at March 31, 2003, compared to the banking system's deposit growth of about 17% during the same period. Savings and current account deposits constituted 41% of incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. deposits during the year. During this period, the Bank repaid Rs. 9,000 crore (US$ 2.1 billion) of erstwhile erst·while adv. In the past; at a former time; formerly. adj. Former: our erstwhile companions. erstwhile Adjective former Adverb ICICI's liabilities as they fell due in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with their terms of repayment Repayment The act of paying back a debt. Notes: Everyone has to repay their debts eventually. See also: Debt, Defeasance, Loan . At March 31, 2004, deposits constituted 63% of the Bank's funding compared to 52% at March 31, 2003. The Bank's average cost of deposits for the quarter ended March 31, 2004 was 5.0% compared to 6.2% for the quarter ended March 31, 2003. International initiative During FY2004, ICICI Bank launched its operations in various international locations, including the India India, officially Republic of India, republic (2005 est pop. 1,080,264,000), 1,261,810 sq mi (3,268,090 sq km), S Asia. The second most populous country in the world, it is also sometimes called Bharat, its ancient name. India's land frontier (c. Offshore Banking Unit (OBU OBU Oklahoma Baptist University OBU Ouachita Baptist University OBU Offshore Banking Unit OBU Onboard Unit OBU One Big Union OBU Old Boys Union OBU OSIS Baseline Upgrade OBU Outside Broadcast Unit OBU Overseas Business Unit OBU OSIS Baseline Group ) in August 2003, Singapore Singapore (sĭng`gəpôr, sĭng`ə–, sĭng'gəpôr`), officially Republic of Singapore, republic (2005 est. pop. 4,426,000), 240 sq mi (625 sq km). OBU and China representative office in September September: see month. 2003, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. (UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. ) representative office in October October: see month. 2003 and subsidiaries in UK and Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of in November November: see month. and December December: see month. 2003 respectively. In FY2004, the Bank has also received RBI approval for operations in Bahrain Bahrain or Bahrein (both: bärān`, bə–), officially Kingdom of Bahrain, constitutional monarchy and archipelago (2005 est. pop. 688,300), 266 sq mi (689 sq km), in the Persian Gulf. , Bangladesh Bangladesh (bäng-lädĕsh`, băng–) [Bengali,=Bengal nation], officially People's Republic of Bangladesh, republic (2005 est. pop. 144,320,000), 55,126 sq mi (142,776 sq km), S Asia. , Russia Russia, officially the Russian Federation, Rus. Rossiya, republic (2005 est. pop. 143,420,000), 6,591,100 sq mi (17,070,949 sq km). and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Asset quality The Bank's net restructured assets at March 31, 2004 were Rs. 6,629 crore (US$ 1.52 billion), a decline of Rs. 3,862 crore (US$ 883 million) as compared to the peak restructured assets of Rs. 10,491 crore (US$ 2.40 billion) at June June: see month. 30, 2003. At March 31, 2004, the Bank's net non-performing assets constituted 2.87% of customer assets against 4.92% at March 31, 2003. Audited consolidated accounts The consolidated profit after tax was Rs. 1,580 crore (US$ 361 million) in FY2004 as compared to Rs. 1,152 crore (US$ 263 million) in FY2003. Key highlights on subsidiaries ICICI ICICI Industrial Credit and Investment Corporation of India Securities' profit after tax increased 53% to Rs. 165 crore (US$ 38 million) in FY2004 from Rs. 108 crore (US$ 25 million) in FY2003. ICICI Lombard ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI Bank Limited and the US-based $26 billion Fairfax Financial Holdings Limited. ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified financial corporate General Insurance Company (ICICI Lombard) earned an underwriting profit Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. of Rs. 17 crore (US$ 4 million), and achieved a profit after tax of Rs. 32 crore (US$ 7 million) in FY2004. ICICI Lombard emerged as the leading private sector general insurance company with a market share of about 22% of the gross written premium earned by private sector general insurance companies in FY2004. ICICI Prudential Prudential is the name of two different companies and buildings named after them: Companies:
1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations , in view of business set-up and customer acquisition costs in the initial years as well as reserving for actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin liability. While the growing operations of ICICI Prudential Life had a negative impact of Rs. 164 crore (US$ 38 million) on the Bank's reported consolidated profit after tax in FY2004 on account of the above reasons, the company's unaudited New Business Achieved Profit (NBAP NBAP Node B Application Part (UMTS network) NBAP National Beef Ambassador Program (National Beef Association) NBAP National Biodiesel Accreditation Program ) for FY2004 was Rs. 204 crore (US$ 47 million). NBAP represents the present discounted value of future profit streams from new policies written by the company during the year, calculated on the basis of certain assumptions as to mortality and other parameters. Internationally, life insurance companies are valued as a multiple of their NBAP. 1 crore = 10.0 million US$ amounts represent convenience translations at US$1= Rs. 43.72. Except for the historical information contained herein, statements in this Release which contain words or phrases such as 'will', 'would', 'indicating', 'expected to' etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, future levels of non-performing loans A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. , our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections A Cash Flow Projection is an attempt to forecast the cash flows that will be generated by an asset, often a company, over a specified time frame. Methodology Projections can be made with varying levels of detail, but any cash flow projection for a business entails , our exposure to market risks as well as other risks detailed in the reports filed by us with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date thereof. For further press queries please call Rajita Bansal at 91-22-2653 8208 or e-mail: rajita.bansal@icicibank.com. For investor queries please call Rakesh Jha at 91-22-2653 6157 or email at ir@icicibank.com.
ICICI Bank Ltd.
AUDITED FINANCIAL RESULTS
(Rs. in crore)
----------------------------------------------------------------------
Three months ended Year ended
----------------------------------------------------------------------
Sr. March 31, March 31, March 31, March 31,
No. Particulars 2004 2003 2004 2003
----------------------------------------------------------------------
1. Interest
earned
(a)+(b)+
(c)+(d) 2,257.80 2,434.01 8,894.04 9,368.05
------------------------------------------------------------------
a) Interest/
discount on
advances/bills 1,560.72 1,560.83 6,073.85 6,016.24
------------------------------------------------------------------
b) Income on
investments 548.78 711.08 2,431.74 2,910.44
------------------------------------------------------------------
c) Interest on
balances with
Reserve Bank
of India and
other interbank
funds 88.68 39.58 210.64 235.57
------------------------------------------------------------------
d) Others 59.62 122.52 177.81 205.80
----------------------------------------------------------------------
2. Other Income 745.87 409.43 3,064.92 (@)3,158.83
------------------------------------------------------------------
A) TOTAL INCOME
(1) + (2) 3,003.67 2,843.44 11,958.96 12,526.88
----------------------------------------------------------------------
3. Interest
expended 1,730.05 1,995.64 7,015.25 7,944.00
----------------------------------------------------------------------
4. Operating
expenses (e)
+ (f) + (g) 690.61 566.76 2,571.23 2,011.69
------------------------------------------------------------------
e) Payments to and
provisions
for employees 157.17 119.41 546.06 403.02
------------------------------------------------------------------
f) Direct Marketing
Agency Expenses 93.40 56.76 293.70 162.31
----------------------------------------------------------------------
g) Other operating
expenses 440.04 390.59 1,731.47 1,446.36
----------------------------------------------------------------------
B) TOTAL EXPENDITURE
(3)+(4) (excluding
provisions and
contingencies) 2,420.66 2,562.40 9,586.48 9,955.69
----------------------------------------------------------------------
5. OPERATING
PROFIT (A-B)
(Profit before
provisions
and contin-
gencies) 583.01 281.04 2,372.48 (@)2,571.19
----------------------------------------------------------------------
6. Other
provisions and
contingencies 30.04 (43.75) 470.27 1,790.80
----------------------------------------------------------------------
7. Provision for taxes
----------------------------------------------------------------------
a) Current
period tax 56.68 115.70 271.99 216.80
----------------------------------------------------------------------
b) Deferred
tax adjustment 40.89 (128.59) (6.88) (642.59)
----------------------------------------------------------------------
8. Net Profit
(5-6-7) 455.40 337.68 1,637.10 1,206.18
----------------------------------------------------------------------
9. Paid-up equity
share capital
(face value
Rs. 10/-) 616.40 612.66 616.40 612.66
----------------------------------------------------------------------
10. Reserves
excluding
revaluation
reserves 7,394.16 6,320.65 7,394.16 6,320.65
----------------------------------------------------------------------
11. Analytical Ratios
----------------------------------------------------------------------
(i) Percentage of
shares held
by Government
of India -- -- -- --
------------------------------------------------------------------
(ii) Capital
Adequacy Ratio 10.36% 11.10% 10.36% 11.10%
------------------------------------------------------------------
(iii) Earnings
per share for
the period
(not annualised
for quarter)
(in Rs.)(basic) 7.39 5.51 26.66 19.68
------------------------------------------------------------------
(iv) Earnings
per share for
the period
(not annualised
for quarter)
(in Rs.)(diluted) 7.31 5.50 26.44 19.65
----------------------------------------------------------------------
12. Aggregate of
non-promoter
Shareholding
------------------------------------------------------------------
-- No. of
shares 61,63,91,905 61,30,34,404 61,63,91,905 61,30,34,404
------------------------------------------------------------------
-- Percentage
of shareholding 100 100 100 100
----------------------------------------------------------------------
13. Deposits 68,108.58 48,169.31 68,108.58 48,169.31
----------------------------------------------------------------------
14. Advances 62,095.52 53,279.41 62,095.52 53,279.41
----------------------------------------------------------------------
15. Total Assets 1,25,228.87 1,06,811.97 1,25,228.87 1,06,811.97
----------------------------------------------------------------------
(@)Operating profit/Other income for last year includes Rs. 1,191 crore being gain on sale of Bank shares (refer item No.6 in Notes below). Notes 1. The Bank had made a Public Issue of 108,928,571 equity shares of Rs. 10/- each at a price of Rs. 280/- per share for cash aggregating Rs. 3,050 crores (referred to as the "Issue"). The Issue, combined with the Green Shoe Option of 16,071,429 equity shares of Rs. 10/- each at a price of Rs. 280/- per share for cash aggregating Rs. 450 crores, aggregated Rs. 3,500 crores. The Issue was made through the 100% book-building scheme. The Bank has issued on April 21, 2004, 108,928,571 equity shares under the Issue. Of these 100,157,271 equity shares are fully paid up and 8,771,300 equity shares are partly paid up (Rs. 5 of face value and Rs. 145 of premium paid up). Additionally, the Bank has the option of issuing up to 16,071,429 new equity shares under the Green Shoe Option. 2. During the year ended March 31, 2004, the Bank allotted al·lot tr.v. al·lot·ted, al·lot·ting, al·lots 1. To parcel out; distribute or apportion: allotting land to homesteaders; allot blame. 2. 3,370,604 shares pursuant to exercise of employee stock options. 3. The Bank had on March 2, 2004 forfeited for·feit n. 1. Something surrendered or subject to surrender as punishment for a crime, an offense, an error, or a breach of contract. 2. Games a. 13,103 equity shares of Rs.10/- each for non-payment non-payment Noun failure to pay money owed non-payment n → Nichtzahlung f, Zahlungsverweigerung f non-payment n of allotment/call money. 4. Pursuant to the delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. application made by the Bank, the equity shares of the Bank have been delisted from the Delhi Stock Exchange Association The Delhi stock Exchange Association Limited (DSE) is located in New Delhi, India. It was incorporated on June 25, 1947. The exchange is an amalgamation of Delhi Stock and Share Brokers' Association Limited and the Delhi Stocks and Shares Exchange Limited. Limited with effect from February February: see month. 11, 2004. Applications have been made for delisting from the Vadodara Stock Exchange Vadodara Stock Exchange or VSE is located in the city of Vadodara in Western India. It was established in 1990 at Baroda. It is the third stock exchange in the state of Gujarat after Ahmedabad and Rajkot. in the western part of the country. Limited, Calcutta Calcutta, India: see Kolkata. Stock Exchange Association Limited and the Madras Stock Exchange The Madras Stock Exchange is a stock exchange in Chennai, India (formerly Madras). The Madras Stock Exchange (MSE) is the fourth Stock Exchange to be established in the country, and the first in South India. Limited and their approvals are awaited a·wait v. a·wait·ed, a·wait·ing, a·waits v.tr. 1. a. To wait for. See Synonyms at expect. b. . 5. Net NPAs to net customer assets are at 2.87%. 6. Other income for previous year ended March 31, 2003 includes a gain of Rs. 1,191 crore realised in the three-month period ended September 30, 2003 on sale of equity shares of the Bank held by a trust, which were transferred to it by erstwhile ICICI Limited in accordance with the scheme of amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( . 7. "Other provisions and contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. " for previous year ended March 31, 2003 include accelerated / additional provision. 8. The segment information is based on the segments identified post merger of ICICI Limited with the Bank. 9. Status of equity investors' complaints for the quarter
----------------------------------------------------------------------
Opening Balance Additions Disposals Closing Balance
----------------------------------------------------------------------
13 116 127 2
----------------------------------------------------------------------
10. The Board of Directors have recommended a dividend of 0.001 percent, i.e. Rs.100 per preference share on 350 preference shares of the face value of Rs. 1 crore each for the year ended March 31, 2004. The Board of Directors have also recommended a dividend of Rs. 7.50 per equity share (75%) for the year ended March 31, 2004 (Previous year dividend Rs. 7.50 per share). The declaration and payment of dividend is subject to the approval of Reserve Bank of India (RBI) and the shareholders of the Bank. The equity shares issued by the Bank as mentioned in serial nos. 1 and 2 of the Notes, are entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to full dividend. 11. Previous period figures have been regrouped / reclassified where necessary to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" current period classification. The above financial results have been taken on record by the Board of Directors at its meeting held on April 30, 2004.
CONSOLIDATED AUDITED FINANCIAL RESULTS OF
ICICI BANK LIMITED AND ITS SUBSIDIARIES
(Rs. in crore)
----------------------------------------------------------------------
Three months ended Year ended
----------------------------------------------------------------------
Sr. March 31, March 31, March 31, March 31,
No. Particulars 2004 2003 2004 2003
----------------------------------------------------------------------
1. Interest earned
(a)+(b)+(c)+(d) 2,346.82 2,555.44 9,244.32 9,690.82
----------------------------------------------------------------------
a) Interest/discount on
advances/bills 1,595.02 1,611.04 6,198.91 6,162.82
----------------------------------------------------------------------
b) Income on investments 594.61 785.62 2,645.39 3,088.99
----------------------------------------------------------------------
c) Interest on balances
with Reserve Bank of
India and other
interbank funds 93.89 40.05 219.39 236.89
----------------------------------------------------------------------
d) Others 63.30 118.73 180.63 202.12
----------------------------------------------------------------------
2. Other Income 1,363.38 602.23 4,553.02 3,714.95
----------------------------------------------------------------------
A) TOTAL INCOME (1) + (2) 3,710.20 3,157.67 13,797.34 13,405.77
----------------------------------------------------------------------
3. Interest expended 1,771.14 2,040.23 7,167.66 8,126.79
----------------------------------------------------------------------
4. Operating expenses (e)+(f) 1,345.69 830.43 4,193.42 2,748.25
----------------------------------------------------------------------
e) Payments to and
provisions for employees 228.23 139.26 710.66 489.46
----------------------------------------------------------------------
f) Other operating
expenses 1,117.46 691.17 3,482.76 2,258.79
----------------------------------------------------------------------
B) TOTAL EXPENDITURE (3)+(4)
(excluding provisions
and contingencies) 3,116.83 2,870.66 11,361.08 10,875.04
----------------------------------------------------------------------
5. OPERATING PROFIT (A-B)
(Profit before
provisions and
contingencies) 593.37 287.01 2,436.26 2,530.73
----------------------------------------------------------------------
6. Other provisions and
contingencies 45.50 (40.83) 516.79 1,733.07
----------------------------------------------------------------------
7. Provision for taxes
----------------------------------------------------------------------
a) Current period tax 68.28 124.01 349.00 297.95
----------------------------------------------------------------------
b) Deferred tax adjustment 38.01 (134.05) (9.16) (651.85)
----------------------------------------------------------------------
8. Share of (profits)/losses of
minority shareholders 0.02 0.83 (0.75) (0.44)
----------------------------------------------------------------------
9. Net Profit (5-6-7-8) 441.56 337.05 1,580.38 1,152.00
----------------------------------------------------------------------
10. Paid-up equity share capital
(face value Rs. 10/-) 616.40 612.66 616.40 612.66
----------------------------------------------------------------------
11. Analytical Ratios
----------------------------------------------------------------------
Earnings per share for the
period (not annualised for
quarter) (in Rs.) (basic) 7.17 5.50 25.73 18.79
----------------------------------------------------------------------
Earnings per share for the
period (not annualised for
quarter) (in Rs.) (diluted) 7.08 5.49 25.52 18.77
----------------------------------------------------------------------
CONSOLIDATED SEGMENTAL INFORMATION OF ICICI BANK LIMITED
AND ITS SUBSIDIARIES
----------------------------------------------------------------------
Three months ended Year ended
----------------------------------------------------------------------
Sr. March 31, March 31, March 31, March 31,
No. Particulars 2004 2003 2004 2003
----------------------------------------------------------------------
1. Segment Revenue
----------------------------------------------------------------------
a Consumer and Commercial
Banking 2,464.05 2,377.12 9,705.23 9,413.25
----------------------------------------------------------------------
b Investment Banking 882.79 740.39 3,805.68 4,283.30
----------------------------------------------------------------------
c Others 594.24 234.23 1,391.33 560.79
----------------------------------------------------------------------
Total 3,941.08 3,351.74 14,902.24 14,257.34
----------------------------------------------------------------------
Less: Inter Segment
Revenue (230.88) (194.07) (1,104.90) (851.57)
----------------------------------------------------------------------
Income from Operations 3,710.20 3,157.67 13,797.34 13,405.77
----------------------------------------------------------------------
2. Segmental Results (i.e.
Profit before tax &
Provision)
----------------------------------------------------------------------
a Consumer and Commercial
Banking 344.18 227.90 1,314.89 998.68
----------------------------------------------------------------------
b Investment Banking 278.14 72.13 1,254.15 1,629.42
----------------------------------------------------------------------
c Others (19.35) (13.02) (107.18) (97.37)
----------------------------------------------------------------------
Total 602.97 287.01 2,461.86 2,530.73
----------------------------------------------------------------------
3. Provisions (including
accelerated/additional
Provision)
----------------------------------------------------------------------
a Consumer and Commercial
Banking(1) 38.09 (15.06) 580.32 1,737.02
----------------------------------------------------------------------
b Investment Banking 7.43 (24.90) (64.28) (4.39)
----------------------------------------------------------------------
c Others -- (0.04) -- --
----------------------------------------------------------------------
Total 45.52 (40.00) 516.04 1,732.63
----------------------------------------------------------------------
4. Segment Results (i.e.
Profit before tax)
----------------------------------------------------------------------
a Consumer and Commercial
Banking 306.09 242.96 734.57 (738.34)
----------------------------------------------------------------------
b Investment Banking(1) 270.71 97.03 1,318.43 1,633.81
----------------------------------------------------------------------
c Others (19.35) (12.98) (107.18) (97.37)
----------------------------------------------------------------------
Total profit before tax 557.45 327.01 1,945.82 798.10
----------------------------------------------------------------------
Unallocated 9.60 -- 25.60 --
----------------------------------------------------------------------
Tax 106.29 (10.04) 339.84 (353.90)
----------------------------------------------------------------------
Profit after tax 441.56 337.05 1,580.38 1,152.00
----------------------------------------------------------------------
5. Capital Employed (i.e.
Segment Assets -
Segment Liabilities
excluding inter-
segmental funds lent
and borrowed)
----------------------------------------------------------------------
a Consumer and Commercial
Banking (20,234.47)(11,323.90)(20,234.47)(11,323.90)
----------------------------------------------------------------------
b Investment Banking 25,300.39 16,190.97 25,300.39 16,190.97
----------------------------------------------------------------------
c Others 376.15 230.45 376.15 230.45
----------------------------------------------------------------------
Total 5,422.07 5,097.52 5,422.07 5,097.52
----------------------------------------------------------------------
(1) For the year ended March 31, 2003 while the gains on sale of Bank shares held by a trust were reported under Investment Banking segment, the accelerated/additional provisions were reported under Commercial Banking segment. |
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