Balance Sheet as at 31st December 2008
Cash and short-term funds
37,345,980
21,752,108
Due from banks and other financial institutions
172,998,597
33,147,202
Bills discounted
82,193,490
41,105,880
Long term investments
8,494,636
9,857,314
Loans and advances
60,333,254
28,472,439
Other assets
81,067,535
27,224,553
Fixed assets
11,676,715
6,989,936
Total Assets
454110207
181308208
Deposit and current accounts
320,012,196
130,806,670
Due to other banks
72,397,535
16,000,809
Tax payable
1,189,942
583,364
Deferred taxation
1,198,023
1,108,947
Dividend payable
1,801
1,801
Other liabilities
48,456,907
10,253,578
Total Liabilities
443419752
159171168
Share capital
4,844,315
4,844,315
Share premium
15,144,478
27,903,254
Statutory reserve
2,792,896
2,507,053
Reserve for small/medium scale industries
725,209
725,209
Contingency reserve
115,618
General reserve
-14,731,296
1,058,110,637
Core capital
>b>8891220
20,348,644
Assets revaluation reserve
1788396
1,788,396
Shareholders' funds
10679616
22137039
TOTAL LIABILITIES
454110207
181308208
Contingent liabilities and other obligations on behalf of customers and customers liability thereof
94444719
For the year ended 31 December 2008
Gross Earnings
37987465
27471801
Interest earnings
26,168,015
14,734,326
Interest expense
1,061,843,193
1,066,582,093
Net interest income
14,269,384
7,574,595
Commissions and other income
11,819,450
12,737,475
Overheads
1,057,099,692
1,059,068,116
Write back/(Provision) for bad and doubtful accounts
787,214
(provision)/write back on bad and doubtful accounts
1,065,902,994
Profit/(loss) on ordinary activities before goodwill amortization and taxation
6,425,576
profit on ordinary activities before taxation and goodwill amortisation
1,607,872
Goodwill amortisation
1,070,552,130
Profit/(loss) on ordinary activities before taxation
1,607,872
3,235,882
Profit on ordinary activities before taxation
1,607,872
Profit/(loss) after taxation attributable to ordinary shareholders
2141380
2649120
Statutory reserve
285,843
794,736
Reserve for small scale industries
132,456
General reserve
780,312
1,721,928
Earnings per share (basic)
11
27
For the period ended 31 December 2008
Interest earnings
26,168,015
14,734,326
Commission and other income
11,406,803
7,381,733
Recoveries on loans loss provision
412,647
5,342,652
Interest expenses
1,061,843,193
1,066,582,093
Cash payments to employees and suppliers
1,059,143,959
1,060,615,865
Operating profits before changes in operating assets and liabilities
11,487,969
Operating profit/(loss) before changes in operating assets and liabilities
7,173,021
Changes in operating assets and liabilities
Loans and advances
1,035,001,369
1,071,150,007
Other assets
1,018,710,680
1,070,331,260
Deposits and current accounts
189,205,526
69,426,736
Other liabilities
37,698,627
1,159,078
Net cash provided by operating activities
144620524
71756454
Cash flows from investing activities
Purchase of investments
1,070,539,551
1,067,798,696
Purchases of fixed assets
1,068,208,486
1,071,714,371
Proceeds on sale of fixed assets
47,505
35,448
Net cash used in investing activities
-8688106
-7935133
Net increase in cash and cash equivalents
135,932,418
63,821,321
Cash and cash equivalents,at beginning of the year
84,921,376
32,183,869
Cash and cash equivalents, end of the year
220853794
96005190
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
Return on Net Worth(%)
0.20%
Capital Adequacy Ratio
0.02%
Net Profit Margin (%)
0.06%
Equity capital to deposits
0.03%
Loan-to-deposits (LTD)
0.19%
Interest Income/Gross Earnings
0.69%
Non-Interest Income/Gross Earnings
8.42%
Cash Flow Indicator Ratios