Financial Analysts
to the
Presentation on
Dena Bank’s
Quarterly / Half Yearly Results – September
2006
Financial
s
[Amt. in Crore]
2005-06
[H1]
2006-07
[H1]
Growth
[%]
2005-06
[Q2]
2006-07
[Q2]
Growth
[%]
Total Income
1031.95
1154.44
11.87
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
129.56
20.31%
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
2
Profit &
Loss
[Amt. in Crore]
2005-06
[H1]
2006-07
[H1]
Growt
h
[%]
Total Income
1031.95
1154.44
11.87
514.37
607.57
18.12
Interest Income
870.77
1003.89
15.29
430.91
526.49
22.18
- Advances
484.17
638.35
31.84
246.30
341.76
38.76
- Investment
365.88
326.85
[10.67]
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]
57.32
23.60
[58.33]
20.50
10.59
[48.34]
103.86
126.95
22.23
62.96
70.49
11.95
- Profit on sale
of securities
-Others
2005-06
[Q2]
2006-07
[Q2]
Growth
[%]
3
Profit & Loss
[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
481.35
562.48
16.85
246.01
297.24
20.82
30.75
28.75
[6.50]
15.28
14.19
[7.13]
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
[140.66]
87.24
48.64
68.75
- Deposits
- Others
Operating Expenses
Net Profit
41.34
4
Profit & Loss [Non Interest
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
161.18
150.55
83.46
81.08
TOTAL
[16.23]
5
Profit & Loss
[Amt. in Crore]
2005-06
[H1]
2006-07
[H1]
Variation
[%]
2005-06
[Q2]
2006-07
[Q2]
Variation
[%]
Interest Earned
870.77
1003.89
15.29
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
[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]
[140.66]
87.24
48.64
68.75
41.34
Burden
Net Profit
6
Provisions &
Contingencies
[Amt. in Crore]
F.Y.
05-06
2005-06
[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]
547.33
382.70
170.09
69.33
71.40
TOTAL PROVISIONS
7
Resource Mobilisation
[Amt. in Crore]
Sept ’05
Mar ’06
Sept ’06
Growth [%]
[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
43.18%
43.65%
43.34%
303.64
0.99
73.90
Share of Demand
Deposits in total
Borrowings
8
Credit Deployment
Mar ’06
Sept ’06
Growth [%]
05-06
Y-on-Y
Growth [%]
04-05
Y-on-Y
[Amt. in Crore]
Sept ’05
GROSS ADVANCES
12777.
33
14747.79
16393.58
28.30
23.67
Priority Sector Adv
5484
6073
7074
29.00
32.88
— Agriculture
2187
2362
2769
— 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
26.61
23.21
9
Resource Mobilisation
26000
25165
25000
23623
24000
23000
22129
Deposits
22000
21000
20000
Sept '05
Mar '06
Sept '06
100%
90%
80%
70%
Term
Current
Savings
12573
13312
14258
2298
2380
2587
7258
7931
8320
Sep '05
Mar '06
Sep '06
60%
50%
40%
30%
20%
10%
0%
10
Funds Deployment
Sept ’05
[Amt. in Crore]
Net Advances
Net Investments
Sept ’06
Growth [%]
Y-on-Y
12151.56
14231.24
15909.47
30.93
9367.28
8570.67
9336.60
[0.33]
16000
15909
12000
Mar ’06
9400
9200
14231
9367.28
9336.6
9000
12152
8800
8000
8600
8570.67
8400
4000
8200
8000
0
Sept '05
Mar '06
Net Advances
Sept '06
Sept '05
Mar '06
Sept '06
Net Investments
11
Capital Adequacy
[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
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
566.51
848.20
938.05
Total RWAs
Net Worth
12
Asset Quality
[Amt. in Crore]
Sept ’05
[Q2]
Sept ’06
[Q2]
Mar ’06
[F.Y]
Sept ’05
[H1]
1149.30
Sept ’06
[H1]
974.91
1147.54
1147.54
949.40
52.00
57.94
227.95
95.45
89.43
4.39
5.27
31.41
12.09
12.54
37.07
31.38
273.62
75.07
98.16
93.46
94.59
532.11
182.61
200.13
46.35
63.93
333.97
137.26
194.98
1102.19
944.25
949.40
1102.19
944.25
GROSS NPA
Opening Balance
Less :
Cash Recovery &
credit operations
Upgradations
Write-off
Total Reductions
Add :
Slippage & Debit Op.
Closing Balance
13
Asset Quality
[Amt. in Crore]
Sep
’05
Mar
’06
Sep
’06
NPA PROVISION
10
Opening Balance
593.11
536.17 476.34
8.63
9
8
— Additions
54.72
236.91
34.34
6.44
7
6
— Reductions
37.07
273.62
31.38
5
5.76
3.92
4
Closing Balance
610.76
GNPA to GA [%]
8.63
6.44
5.76
NNPA to NA [%]
3.92
3.04
2.89
55.41
52.61
50.76
Provision
cover[%]
499.46 479.30
3.04
3
2.89
2
1
0
Sept '05
Mar '06
GNPA to GA
Sept '06
NNPA to NA
14
Financial Ratios [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
15
Financial Ratios
Mar ’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
16
Financial 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
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
Coverage Ratio [%]
17
Productivity
Ratios
Sept ’05
{Q]
Business Per Branch [in Rs. Crs]
Mar ’06
[F.Y]
Sept ’06
[Q]
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
42
32
34.12
37.51
40.62
3.75
4.15
3.41
22
3.78
2.5
12
1.25
2
0
-8
Sept '05
Mar '06
Business Per Branch
Sept '06
Sept '05
Mar '06
Sept '06
Business Per Employee
18
Thank you
19