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Financial Analyststo thePresentation onDena Bank’s
Quarterly / Half Yearly Results – September 2006
2
FinanciaFinancialsls
[Amt. in Crore]
2005-06
[H1]
2006-07[H1]
Growth [%]
2005-06[Q2]
2006-07[Q2]
Growth [%]
Total Income1031.
951154.4
411.87
514..37
607.57 18.12
Total Expenses
789.91
897.11 13.57 396.40 467.42 17.92
Operating Profit[excl. Profit on sale on Inv.]
184.72
233.73 26.53 97.47 129.5620.31
%
Operating Profit[incl. Profit on sale on Inv.]
242.04
257.33 6.32 117.97 140.15 18.80
Provisions & Contingencies
402.64
152.13[62.22
]79.22 54.75
[30.89]
Provision for Taxes
[19.94] 17.96 [9.89] 16.65
Net Profit [140.66] 87.24 48.64 68.75
3
Profit & Profit & LossLoss
[Amt. in Crore]2005-06
[H1]2006-07
[H1]
Growth
[%]
2005-06[Q2]
2006-07[Q2]
Growth [%]
Total Income 1031.951154.4
411.87 514.37 607.57 18.12
Interest Income
870.771003.8
915.29 430.91 526.49 22.18
- Advances 484.17 638.35 31.84 246.30 341.76 38.76
- Investment 365.88 326.85[10.6
7]170.76 163.23 [4.41]
- Others 20.72 38.69 86.73 13.85 21.50 55.23
Non Interest income
161.18 150.55 [6.60] 83.46 81.08 [2.86]
- Profit on sale of securities
57.32 23.60[58.3
3]20.50 10.59 [48.34]
-Others 103.86 126.95 22.23 62.96 70.49 11.95
4
Profit & Profit & LossLoss
[Amt. in Crore]2005-06
[H1]
2006-07
[H1]
Growth[%]
2005-06[Q2]
2006-07
[Q2]
Variation
[%]
Total Expenses 789.91 897.11 13.57 396.40 467.42 17.92
Interest Expenses
512.10 591.23 15.45 261.29 311.43 19.19
- Deposits 481.35 562.48 16.85 246.01 297.24 20.82
- Others 30.75 28.75 [6.50] 15.28 14.19 [7.13]
Operating Expenses
277.81 305.88 10.10 135.11 155.99 15.45
- Staff related 177.37 198.09 11.68 83.74 99.85 19.24
- Others 100.44 107.79 7.31 51.37 56.14 9.29
Net Interest Income
358.67 412.66 15.05 169.62 215.06 26.80
Operating Profit 242.04 257.33 6.32 117.97 140.15 18.80
Provisions & Contingencies
402.64 152.13 [62.22] 79.22 54.75 [30.89]
Prov. for Taxes [19.94] 17.96 [9.89] 16.65
Net Profit [140.66] 87.24 48.64 68.75 41.34
5
Profit & Loss [Non Interest Profit & Loss [Non Interest Income]Income]
[Amt. in Crore]2005-
06[H1]
2006-07
[H1]
Variation
[%]
2005-06
[Q2]
2006-07
[Q2]
Variation
[%]
Profit on sale of Inv
57.32 23.60 [58.83] 20.50 10.59 [48.34]
Commission Income
40.73 49.78 22.22 19.84 25.32 27.62
Exchange earned on Forex
11.20 11.34 1.25 6.69 5.75 [14.05]
Process Fee 9.89 11.66 17.90 5.92 7.88 33.11
Other Income 13.85 17.94 29.53 9.13 12.69 38.84
Recovery in w/off Inv.
0.00 0.95 0.00 0.00 0.94
Recovery in w/off A/c
28.19 35.28 25.15 21.38 17.91 [16.23]
TOTAL 161.18 150.55 83.46 81.08
6
Profit & LossProfit & Loss
[Amt. in Crore]2005-
06[H1]
2006-07
[H1]
Variation
[%]
2005-06
[Q2]
2006-07
[Q2]
Variation
[%]
Interest Earned 870.771003.8
915.29 430.91 526.49 22.18
Interest Expended
512.10 591.23 15.45 261.29 311.43 19.19
Net Interest Income
358.67 412.66 15.05 169.62 215.06 26.80
Non Interest Income
161.18 150.55 [6.60] 83.46 81.08 [2.86]
Operating Expenses
277.81 305.88 10.10 135.11 155.99 15.45
Burden [116.63][155.33
]33.18 [51.65] [74.91] 45.06
Operating Profit 242.04 257.33 6.32 117.97 140.15 18.80
Provisions & Contingencies
382.70 170.09 [62.22] 69.33 71.40 [30.89]
Net Profit [140.66] 87.24 48.64 68.75 41.34
7
[Amt. in Crore]F.Y.
05-062005-06
[H1]2006-07
[H1]2005-06
[Q2]2006-07
[Q2]
Provision for NPAs 236.92 149.66 78.00 54.72 34.34
Provision for Taxes [23.29] [19.94] 17.96 [9.89] 16.65
Prov for Depreciation on Investments
270.69 227.86 52.93 14.66 5.12
Prov for Standard Assets/Restructed Assets
42.92 18.15 8.20 6.02 9.75
Amortisation of premium paid on Investment
19.96 9.96 14.51 4.98 7.26
Contingent Liabilities
[1.45] [1.94] [1.00] 0.00 [1.14]
Others [0.25] [1.05] [0.51] [1.15] [0.58]
TOTAL PROVISIONS 547.33 382.70 170.09 69.33 71.40
Provisions & Provisions & ContingenciesContingencies
8
Resource Resource MobilisationMobilisation
[Amt. in Crore]
Sept ’05 Mar ’06 Sept ’06Growth [%][Sept - 05-
06]
Growth[%]
[Sept 04-05]
Current Deposits
2298 2380 2587 12.58 16.59
Savings Deposits
7258 7931 8320 14.63 15.91
Term Deposits 12573 13312 14258 13.40 4.66
TOTAL 22129 23623 25165 13.71 9.47
Share of DemandDeposits in total
43.18% 43.65% 43.34%
Borrowings 303.64 0.99 73.90
9
Credit DeploymentCredit Deployment
[Amt. in Crore] Sept ’05
Mar ’06 Sept ’06Growth [%]
05-06Y-on-Y
Growth [%]04-05Y-on-Y
GROSS ADVANCES12777.3
314747.79 16393.58 28.30 23.67
Priority Sector Adv
5484 6073 7074 29.00 32.88
— Agriculture 2187 2362 276926.61
23.21
— S.S.I. 1380 1322 1407 1.96 21.27
— Others 1917 2389 2871 46.95 57.91
PS Advances to Net Bank Credit %
44.00 42.19 44.09
Retail Credit 1816 2249 2783 53.25
S.M.E. 2146 2388 2801 30.52
C.D. Ratio [%] 59.79 62.43 65.14
10
Resource MobilisationResource Mobilisation
22129
23623
25165
20000
21000
22000
23000
24000
25000
26000
Sept '05 Mar '06 Sept '06
Deposits
7258 7931 8320
2298 2380 2587
12573 13312 14258
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Sep '05 Mar '06 Sep '06
Term
Current
Savings
11
Funds Funds DeploymentDeployment
[Amt. in Crore]
Sept ’05 Mar ’06 Sept ’06Growth [%]
Y-on-Y
Net Advances 12151.56 14231.24 15909.47 30.93
Net Investments
9367.28 8570.67 9336.60 [0.33]
12152
14231
15909
0
4000
8000
12000
16000
Sept '05 Mar '06 Sept '06
Net Advances
9367.28
8570.67
9336.6
8000
8200
8400
8600
8800
9000
9200
9400
Sept '05 Mar '06 Sept '06
Net Investments
12
Capital Capital AdequacyAdequacy
[Amt. in Crore] Sept ’05 Mar ’06 Sept ’06
Eligible Tier I 566.51 848.20 938.05
Eligible Tier II 514.04 662.95 938.05
Eligible Total 1080.55 1511.15 1876.10
Total RWAs 11636.48 14225.29 15620.25
Core CRAR – Tier I 5.96 5.96 6.01
CRAR on Tier II 3.33 4.66 6.00
CRAR [Total] 9.29 10.62 12.01
Net Worth 566.51 848.20 938.05
13
Asset Asset Quality Quality
[Amt. in Crore]Sept ’05[Q2]
Sept ’06[Q2]
Mar ’06
[F.Y]
Sept ’05[H1]
Sept ’06[H1]
GROSS NPA
Opening Balance 1149.30 974.911147.5
41147.54 949.40
Less :
Cash Recovery & credit operations
52.00 57.94 227.95 95.45 89.43
Upgradations 4.39 5.27 31.41 12.09 12.54
Write-off 37.07 31.38 273.62 75.07 98.16
Total Reductions 93.46 94.59 532.11 182.61 200.13
Add :
Slippage & Debit Op.
46.35 63.93 333.97 137.26 194.98
Closing Balance 1102.19 944.25 949.40 1102.19 944.25
14
Asset Asset QualityQuality
[Amt. in Crore]Sep ’05
Mar ’06
Sep ’06
NPA PROVISION
Opening Balance
593.11
536.17
476.34
— Additions 54.72236.9
134.34
— Reductions 37.07273.6
231.38
Closing Balance
610.76
499.46
479.30
GNPA to GA [%] 8.63 6.44 5.76
NNPA to NA [%]
3.92 3.04 2.89
Provision cover[%]
55.41 52.61 50.76
5.76
2.89
8.63
6.44
3.04
3.92
0
1
2
3
4
5
6
7
8
9
10
Sept '05 Mar '06 Sept '06
GNPA to GA NNPA to NA
15
Financial Ratios Financial Ratios [cost/yield][cost/yield]
Mar ’06[FY]
Sept ’05[HY]
Sept ’06[HY]
Sept ’05[Q2]
Sept ’06[Q2]
Cost of Deposits [%]
4.58 4.61 4.80 4.65 4.93
Cost of Funds [%] 4.66 4.67 4.89 4.71 4.99
Yield on Advances [%]
7.80 8.16 8.38 8.22 8.71
Yield on Investments with POSOI [%]
9.19 9.06 8.11 8.30 8.11
Yield on Investments without POSOI [%]
7.82 7.84 7.57 7.41 7.63
Yield on Funds [%] 7.46 7.57 7.76 7.51 7.95
16
Financial RatiosFinancial RatiosMar ’06
[FY]Sept ’05
[HY]Sept ’06
[HY]Sept ’05
[Q2]Sept ’06
[Q2]
Intt Income as % age to avg working funds
6.62 7.11 7.42 6.97 7.61
Non Intt Income as %age to avg working funds
2.39 1.32 1.11 1.35 1.17
Interest spread as %age to avg working funds
2.88 2.93 3.05 2.74 3.11
Operating Profit as %age to avg working funds
2.70 1.98 1.90 1.91 2.03
Net Interest Margin [%][NII / interest bearing assets on last day]
2.95 2.97 3.19 2.81 3.33
17
Financial RatiosFinancial Ratios
Mar ’06[FY]
Sept ’05[HY]
Sept ’06[HY]
Sept ’05[Q2]
Sept ’06[Q2]
Earning Per Share [non-annualised] [Rs.]
2.54 [4.90] 3.04 1.70 2.40
Cost Income Ratio [%] 47.50 53.44 54.31 53.39 52.67
Coverage Ratio [%] 1.56 0.35 1.66
Book Value [incl. Reval Reserve] [in Rs.]
39.11 23.45 41.83 23.45 41.83
Book Value [excl.Reval Res.] [in Rs.]
29.57 19.77 32.71 19.77 32.71
Return on Assets [%] [annualised]
0.29 -ve 0.64 0.76 0.99
Return on Networth [%] [annualised]
9.02 -ve 19.75 31.94 30.52
18
Productivity Productivity RatiosRatios
Sept ’05{Q]
Mar ’06[F.Y]
Sept ’06[Q]
Business Per Branch [in Rs. Crs] 34.12 37.51 40.62
Business Per Employee [in Rs. Crs] 3.41 3.78 4.15
Profit Per Branch [in Rs. Lacs] [not annualised]
4.73 7.13 6.72
Profit Per Employee [in Rs. Lacs] [not annualised]
0.47 0.72 0.69
34.12 37.5140.62
-8
2
12
22
32
42
Sept '05 Mar '06 Sept '06
Business Per Branch
3.41 3.784.15
0
1.25
2.5
3.75
Sept '05 Mar '06 Sept '06
Business Per Employee
19
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