From correspondents in Maharashtra, India, 10:15 PM IST

The Bank of Rajasthan Ltd., one of the leading private sector banks in the country, has announced net profit of Rs. 30.92 crore showing an increase of 2.49 % against net profit of Rs. 30.17 crore in the previous corresponding quarter. The Earning per Share (EPS) has gone up to Rs.2.30 during the quarter ended June 2008 from Rs 2.24 during the quarter June 2007.

The interest income recorded impressive growth by 28.48% to Rs.319.61 crore compared to Rs.248.76 crore in the corresponding previous quarter. The CRAR stood at 12.26% as against 11.90% in the previous corresponding quarter.

The net NPAs (Non Performing Assets) have come down significantly to 0.42% from 0.67% during the previous quarter ended June 30, 2007. The bank’s net NPA stands at Rs 31.67 crore against Rs.34.94 crore in the previous corresponding quarter.

BoR has converted all its branches online on a pan India basis and has emerged as one of the most technology driven private sector banks.

THE BANK OF RAJASTHAN LIMITED

(Regd. Office : Clock Tower, Udaipur)

(Central Office : Jaipur)

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2008

(Rs. in lacs)

Sr. No.

Particulars

Quarter ended

Year Ended

30th June 2008

30th June 2007

31st March 2008

Result Type

Reviewed

Reviewed

Audited

1

Interest Earned (a)+(b)+(c)+(d)

31960.81

24876.46

104943.99

(a) Interest / Discount on advance/ bills

20138.14

14890.17

63127.69

(b) Income on Investments

8908.62

6521.60

28364.46

(c) Interest on balances with Reserve Bank of India and Other Inter Bank Funds

2904.57

3410.49

13081.12

(d) Others

9.48

54.20

370.72

2

Other Income

2178.86

2473.65

12696.17

3

Total Income (1+2)

34139.67

27350.11

117640.16

4

Interest Expended

23360.52

16656.78

73560.20

5

Operating Expenses (i+ii)

6631.71

6354.00

26951.70

(i) Employees Cost

4296.24

4181.93

17493.89

(ii) Other Operating Expenses

2335.47

2172.07

9457.81

6

Total Expenditure excluding provisions and contingencies (4+5)

29992.23

23010.78

100511.90

7

Operating Profit before provisions and contingencies (3-6)

4147.44

4339.33

17128.26

8

Provisions (other than tax) and Contingencies

371.10

92.13

56.02

9

Exceptional Items

-

-

-

10

Profit / (Loss) from Ordinary Activities before tax (7-8-9)

3776.34

4247.20

17072.24

11

Tax expense

683.94

1229.95

5552.51

12

Net Profit / (Loss) from Ordinary Activities after tax (10-11)

3092.40

3017.25

11519.73

13

Extraordinary Items (net of tax expenses)

-

-

-

14

Net Profit / (Loss for the period (12-13)

3092.40

3017.25

11519.73

15

Paid-up Equity Share Capital

(Face Value per share Rs.10/-)

13445.84

10756.67

13445.84

16

Reserves excluding Revaluation Reserves (as per balance sheet of previous accounting year)

39508.35

17

Analytical Ratios

(i) Percentage of shares held by Government of India

Nil

Nil

Nil

(ii) % Capital Adequacy Ratio

12.26

11.90

11.87

(iii) Earning per share Basic

a) Basic and diluted EPS before Extra-ordinary items (net of tax expense) for the period, for the year to date and for the previous year (not to be annualized)

2.30

2.24

8.57

b) Basic and diluted EPS after Extra-ordinary items for the period, for the year to date and for the previous year (not to be annualized)

2.30

2.24

8.57

(iv) NPA Ratios

a) Gross NPA

12682.30

14307.72

12619.51

Net NPA

3167.15

3494.24

3089.88

b) % of Gross NPA

1.65

2.70

1.68

% of Net NPA

0.42

0.67

0.42

c) Return on Assets (Not Annualised)

0.20

0.26

0.91

18

Public Shareholding

84077302

60060600

84077302

- No. of shares

- Percentage of Shareholding

62.53

55.84

62.53

Notes:

1) The financial results have been taken on record by the Board of Directors at its meeting held on 22nd July 2008.

2) The financial results for the quarter ended 30th June 2008 have been reviewed by the Statutory Central Auditors.

3) The financial results for the quarter ended 30.06.2008 have been arrived at after considering provision for non-performing assets and floating provision, depreciation/ amortisation on investments, gratuity, pension, leave encashment, income tax including fringe benefit tax, deferred tax, other usual and necessary provisions on an estimated basis and are subject to adjustments at the year end.

4) Upto quarter ended December 2007, the Bank disclosed operations in two segments – Banking Operations and Treasury Operations. In accordance with RBI guidelines, the Bank has thereafter identified 3 segments in its Banking Operations – Corporate / Wholesale Banking, Retail Banking, Other Banking Business. Figures in respect of these segments for the earlier period are not available and hence these figures are not fully comparable.

5) Operating expenses include depreciation on immovable properties revalued as on 31st March 2008. The aggregate depreciation of Rs.464.98 lacs is netted off against Rs.177.76 lacs being depreciation on revalued portion withdrawn from Capital Reserve (Revaluation).

6) Total number of shareholder complaints pending at the beginning of the quarter - Nil, complaints received and resolved during the quarter - 11 and complaints pending at the end of the quarter - Nil.

7) As the Bank operates only in the domestic segment, there are no other geographical segments.

8) Previous period figures have been regrouped / rearranged wherever necessary.

Segment- wise Results

(Rs. in lacs)

Business Segment Particulars

For the Quarter ended 30th June 2008

For the Quarter ended 30th June 2007

For the Year ended 31st March 2008

Segment Revenue

Treasury Operations

11646.17

9791.54

41863.14

Corporate / Wholesale Banking

12692.03

17561.44

37242.44

Retail Banking

9226.08

35943.58

Other Banking Operations

577.85

2570.02

Total

34142.13

27352.98

117619.18

Less: Inter Segment Revenue

-

-

-

Net sales/ Income from operations

34142.13

27352.98

117619.18

Segment Result

(Profit / (Loss) before tax and interest from Each segment)

Treasury Operations

(593.84)

212.36

1922.18

Corporate / Wholesale Banking

1930.66

4037.71

3831.61

Retail Banking

1876.14

8771.78

Other Banking Operations

565.84

2525.69

Total

3778.80

4250.07

17051.26

Add/(Less): Other unallocable Income/ (Expenditure) net off

(2.46)

(2.87)

20.98

Total Profit Before Tax

3776.34

4247.20

17072.24

3. Capital Employed

Treasury Operations

22837.39

21286.06

22564.38

Corporate / Wholesale Banking

21297.27

24358.29

19923.68

Retail Banking

11839.27

10397.49

Other Banking Operations

72.67

68.65

Total

56046.60

45644.35

52954.20

Source: Press Release Distribution via India PRwire