Vijayabank

VIJAYA BANK

Head Office :: Bangalore

FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2007

(Rupees in lakhs)

Sl.No.	particulars	Quarter ended		Year ended
Sl.No.	particulars	31.3.2007 (Audited)	31.3.2006 (Audited)	31.3.2007 (Audited)	31.3.2006 (Audited)
1.	Interest earned [(a)+(b)+(c)+(d)]	80360	59001	282311	231180
	(a) Interest/discount on advances/bills	51337	34505	176371	134241
	(b) Income from investments	24602	23272	94236	93174
	(c) Interest on balances with Reserve Bank of India and other inter bank funds	2752	574	5063	2132
	(d) Others	1669	650	6641	1633
2.	Other Income	8457	7854	27479	28378
2.	A) TOTAL INCOME (1+2)	88817	66855	309790	259558
3.	Interest Expended	51476	34642	175116	133902
	Operating Expenses (e) + (f)	18016	16122	65072	62355
	(e) Payments to and provisions for employees	10799	10131	39214	37884
	(f) Other operating expenses	7217	5991	25858	24471
	B) TOTAL EXPENDITURE (3+4) (Excluding provisions and contingencies)	69492	50764	240188	196257
	C) OPERATING PROFIT (A –B) (Profit before provisions and contingencies)	19325	16091	69602	63301
	D) Provisions and Contingencies	17791	19710	34827	45355
	- Of which provision for Non Performing Assets	5813	10000	12068	12675
	E) Provision for taxes (Including deferred taxes)	(4831)	(166)	1641	5258
	(i) Current Tax	(749)	50	3299	1700
	(ii) Deferred Tax	(103)	(341)	2010	3223
	(iii) Fringe Benefit Tax	100	125	411	335
	(iv) MAT Credit	(4079)	-	(4079)	-
	F) Net Profit (C-D-E)	6365	(3453)	33134	12688
55.	Paid up equity share capital	43352	43352	43352	43352
06.	Reserves excluding revaluation reserves (As per Balance Sheet of previous accounting year)	118662	110264	118662	110264
07.	Analytical Ratios
	(i) Percentage of shares held by Government of India	53.87	53.87	53.87	53.87
	(ii) Capital Adequacy Ratio (%)	11.21	11.94	11.21	11.94
	(iii) Earnings per share (Not annualized)	1.47	(0.80)	7.64	2.93
	(iv) a) Amount of Gross Non Performing Assets	56431	54015	56431	54015
	b) Amount of Net Non Performing Assets	14396	14232	14396	14232
	c) Percentage of Gross Non Performing Assets	2.29	3.17	2.29	3.17
	d) Percentage of Net Non Performing Assets	0.59	0.85	0.59	0.85
	(v) Return on Assets (Annualised) (%)	0.64	(0.49)	0.92	0.45
08.	Aggregate of Non-promoter share holding
	- Number of shares	200000000	200000000	200000000	200000000
	- Percentage of share holding	46.13	46.13	46.13	46.13

SEGMENT-WISE RESULTS, ASSETS AND LIABILITIES FOR THE YEAR ENDED 31.03.2007

(Rupees in lakhs)

BUSINESS SEGMENTS #	TREASURY				OTHER BANKING OPERATIONS				TOTAL
	Quarter ended		Year ended		Quarter ended		Year ended		Quarter ended		Year ended
	31.3.07	31.3.06	31.3.07	31.3.06	31.3.07	31.3.06	31.3.07	31.3.06	31.03.07	31.03.06	31.3.07	31.3.06
Revenue	2898	12140	28223	49017	85919	54715	281567	210541	88817	66855	309790	259558
Result	1399	3241	9224	15616	18972	13707	64392	51680	20371	16948	73616	67296
Unallocated expenses									1046	857	4014	3995
Operating Profit									19325	16091	69602	63301
Provisions & Contingencies									17791	19710	34827	45355
Provision for tax									(4831)	(166)	1641	5258
Extraordinary Profit/(loss)
Net Profit									6365	(3453)	33134	12688
OTHER INFORMATION
Segment Assets	304565	444073	304565	444073	3877074	2660329	3877074	2660329	4181639	3104402	4181639	3104402
Unallocated Assets									54110	49008	54110	49008
Total Assets									4235749	3153410	4235749	3153410
Segment Liabilities	294692	427207	294692	427207	3751389	2559287	3751389	2559287	4046081	2986494	4046081	2986494
Unallocated Liabilities									189668	166916	189668	3153410
Total Liabilities									4235749	3153410	4235749	3153410

#	For the purpose of segment reporting in terms of AS-17 of the ICAI, the business of the Bank has been classified into two segments a) Treasury Operations and b) Other Banking Operations
#	Since the Bank does not have any Overseas branch, reporting under geographic segment has not been done.
#	Expenses, assets and liabilities wherever directly related to segments have been accordingly allocated to segments and wherever not directly related have been allocated on the basis of average operating assets.

NOTES:

	1) The above results have been taken on record by the Board of Directors of the Bank at its meeting held on 30.04.2007. 2) The Board of Directors has recommended a final dividend @ 10% in addition to interim dividend of 10% paid during the year. 3) Working results for the year ended 31.3.2007 have been arrived at after making necessary provisions. 4) The method of amortization of premium on investment under ‘Held to Maturity’ category has been changed from ‘Straight Line Method’ to ‘Constant Yield Method’, resulting in lower amortization to the extent of Rs.38.32 crore with consequential increase in profit. 5) Bank has accounted for Rs.10.50 crore pertaining to entries originated in Inter Branch Account upto 31.03.1999 under Miscellaneous Income, as approved by Reserve Bank of India. Based on legal opinion, tax on such credit is not provided for. 6) The Bank has not created Deferred Tax Asset in terms of AS-22 ‘Accounting for Taxes on Income’, on the available carried forward loss of Rs.53.04 Crore, resulting in lower profit for the year to the extent of Rs.18.03 Crore. 7) The figures of the previous period/year have been re-grouped and re-classified wherever necessary. 8) The number of shareholders' complaints pending is Nil. Number of complaints received and resolved during the year are 2224.

Place : Bangalore		T. VALLIAPPAN	PRAKASH P. MALLYA
Date : 30th April 2007		Executive Director	Chairman & Managing Director