OREANDA-NEWS. July 28, 2011. INTEREST INCOME AT Rs.3401 CRORE UP BY 27.28% IN Q1 FY12 YIELD ON ADVANCES IMPROVES TO 10.87% IN Q1 FY12 (9.85% in Q1 FY11) NET PROFIT FOR Q1 FY12 IMPROVES 12.42% TO Rs 292 CRORE

Deposits Rs. 127,534 crore in Q1 FY11 (7.28% Y-o-Y Growth) Advances Rs. 96,092 crore in Q1 FY11 (17.55% Y-o-Y Growth)

Performance Highlights for the Quarter ended June 2011

Profit

Net Profit of the Bank recorded a YoY growth of 12.42% to reach Rs.292 crore for the first quarter of 2011-12 aided by 17.14% decline in provisioning during the quarter.

Business

Total business as at the end of Jun'11 amounted to Rs.223,626 crore as compared to Rs.200,623 crore in Jun'10, exhibiting a growth of 11.47% on Y-o-Y basis.

CASA deposits stood at Rs.30,841 crore as on Jun'11 against Rs.27,318 crore a year ago registering a Y-o-Y growth of 12.90% aided by 30.48% rise in Current Deposits and 9.14% rise in Saving Deposits.

Advances of the Bank at Rs. 96,092 crore at the end of Jun'11 grew by 17.55% (YoY) from Rs. 81,747 crore at the end of Jun'10.

Credit Deposit Ratio improved to 75.35% as at Jun'11 from 68.77 % in Jun'10.

Income

Total income during Q1 FY'12 rose by 28.44% to Rs. 3676 crore due to healthy growth of 27.26% in Interest Income.

Other Income in Q1 FY'12 at Rs.275 crore registered 44.74% growth over corresponding period last year on the back of 142.86% rise in recovery from written off a/cs and 165.63% rise in Trading profit Y-o-Y.

Important Ratios

Gross NPA ratio stood at 3.50% as at Jun'11 whereas Net NPA ratio is 2.15 %.

Yield on Advances stood at 10.87% in Q1 FY'12 against 9.85% in the corresponding period last year registering 10.36% Y-o-Y growth.

Cost of Deposit stood at 7.24% for Q1 FY'12 as against 5.44% for Q1 FY'11.

CAR of the bank was comfortable at 13.51% under BASEL-II (Tier-I Capital: 8.52 %; Tier-II Capital: 4.99%).

Qtr-on-qtr Sequential Performance

Total income during the current Qtr. rose 9.34% over the previous Mar'11-Qtr. Figure (Rs.3362 crore).

Net Profit(Rs.292 cr.) recorded a 28.63% growth over previous qtr.(Rs.227 cr.) aided by 15.08% decline in operating expenses and 9.89% fall in provisioning.

YOA, ROA & NIM recorded 10.24%, 20.97% and 6.03% growth respectively on a Qtr-on-Qtr basis.

Delivery Channels

Bank's branch network stands at 2209 domestic and 4 overseas branches as on 30.06.11.

677 ATMs facilitating around 14.41 lacs ATM/VISA Debit card holders.

Bank has launched Biometric ATMs for the benefit of Biometric Card Holders.

New Initiatives

Verified by VISA (VbV) facility has been incorporated with VISA Debit Card from 1st Apr'2011enabling online payments through Bank's Debit cards where VbV is acceptable.

UCO e-Trade (online share trading) has been launched in Apr'2011.

Bank has entered into distribution agreements with two leading Mutual Fund companies namely Baroda Pioneer Asset Management Company and SBI Funds Management Comapny for selling their MF products through our branches.

New Initiatives in the pipeline

Interbank Mobile Payment Services (IMPS)

UCO Prepaid Cards

Introduction of UCO POS terminals

Self-service banking lobby

Online booking of Railway tickets.