Interim results for both the parties:

H D F C Bank Ltd.
Times Bank Ltd.
Q1(for 3 months) Q2
Q3
Q3
Jun-99
Sep-99
Dec-99
Dec-99
Net Sales
120.03
143.82
160.04
94.59
Other Income
18.43
27.04
34.8
13.63
Total Expenses
24.57
33.44
48.85
21.97
PBDIT
113.89
137.42
145.99
86.25
Interest
71.94
88.07
91
72.17
PBDT
41.95
49.35
54.99
14.08
Depreciation
5.25
5.25
7.94
2.02
PBT
36.7
44.1
47.05
12.06
Tax
11.38
16.1
18.88
3.72
Net Profit
25.32
28
28.17
8.34
Growth (in %)
Sales
60.53
66.5
61.27
30.34
Other Income
0.27
51.4
126.12
28.22
Total Expenses
23.34
84.55
147.97
57.94
PBDIT
55.52
59.57
53.79
24.48
Interest
74.78
73.85
43.78
19.35
PBDT
30.81
39.17
73.8
59.64
Net Profit
25.47
27.33
54.87
29.5
Profitability (in %)
PBDIT/Sales
94.88
95.55
91.22
91.18
PBDT/Sales
34.95
34.31
34.36
14.89
PBT/Sales
30.58
30.66
29.4
12.75
PAT/Sales
21.09
19.47
17.6
8.82

Times Bank Ltd.

Rs. crores
Non-Annualised
Interest income
Dividend income
Interest expended
Interest tax
Provision for contingencies / NPA etc.
PBDT
PBT
PAT

Mar-96
12
mths

Mar-97
12
mths

Mar-98
12
mths

Mar-99
12
Mths

32.14
4.92
21.54
0
0
10.88
10.11
7.61

115.6
28.56
104.91
0
10.02
19.53
18.03
10.12

133.54
80.42
177.21
0
5.43
37.83
32.59
24.11

169.52
116.88
232.05
0
10.54
38.06
30.07
27.08

Cash & bank balance

Money at call
Balance with RBI
Investments
Government securities
Assisted companies
Advances
Short term advances
Term advances

108.48
0
45.08
84.12
82.12
0
208.41
208.41
0

198.96
4
146.89
380.66
316.47
0
417.51
306.07
111.44

431.72
10
226.03
795.69
487.49
0
695.76
495.23
200.53

711.47
271
223.07
1043.41
658.37
0
886.96
501.32
385.64

Equity capital
Deposits
Demand deposits
Savings deposits
Term deposits
Borrowings
RBI borrowings
Other liabilities & prov.
Total assets / liabilities

100
355.72
35.6
8.81
311.31
89.38
73.82
155.52
706.11

100
1315.69
109.14
43.69
1162.86
3.24
0
313.61
1744.74

100
2214.4
278.43
106.3
1829.67
3.05
0
84.63
2441.93

100
3011.17
848.72
227.95
1934.5
1.72
0
90.78
3267.22

259.68
387.05
32.98
269.87
100.33

15.52
68.92
-45.81
138.24
68.31
66.65

26.94
30.95
94.11
12.32
35.98
27.48

12.13
18.36

14.6
16.69

11.68
14.91

Growth (%) :
Interest income
Interest expended
Provisions for contingencies / NPA etc.
PAT
Deposits
Advances
Margin ratios (%) :
PBDT / Operating income
PBDT (incl. NPA) etc. / Operating

26.08
26.08

income
PAT / Operating income (%)
PAT (incl. NPA) / Operating income

6.29
12.51

9.3
11.4

8.31
11.54

Returns ratios (%) :

PAT / Net worth
PAT / Total assets
PBDT / Total assets
PBDT / Capital employed

9.11
0.83
1.59
12.41

18.74
1.15
1.81
28.7

17.48
0.95
1.33
24.19

Average return on advances

Average cost on deposits
Interest spread
Solvency ratio

36.54
9.68
26.86
5.58

22.9
9.39
13.51
28.26

19.77
8.32
11.45
37.44

0.32
21.78
75.24
2.4
0.13

0.31
30.96
34.82
0.78
0.12

0.29
24
37.32
1.19
0.11

15.11
0.46
0
0

11.26
1.41
0
0

9.97
3.01
0
35

Credit deposit ratio (times)

Incremental credit/deposit ratio (%)
Priority advances / advances (%)
Bad debt / Total advances (%)
Operating income / Total assets (times)
Capital Adequacy
NNPA Provision
Subordinate Debt Tier II
No. of Branches

18.24
18.24

2.89
0.59
30.86
0

29.4
0
0
9

H D F C Bank Ltd.
Rs.Crore
Non-Annualised
Interest income
Dividend income
Interest expended
Interest tax
Provision for contingencies / NPA etc.
PBDT
PBT
PAT

Mar-95
3
mths

Mar-96
12
mths

Mar-97
12
mths

Mar-98
12
Mths

12.62
0
4.77
0
0.4
1.03
0.81
0.8

114.56
0
70.84
0
1.32
29.8
28.22
20.28

99.79
61.95
87.18
0
5.92
64.33
58.05
40.5

136.89
103.91
137.55
0
8.18
105.06
94.37
63.15

Cash & bank balance

Money at call
Balance with RBI
Investments
Government securities
Assisted companies
Advances
Short term advances
Term advances

1536.63
296
205.18
221.34
162.39
0
98
40
58

170.08
30
104.75
314.28
141.24
0
353.37
111.96
241.41

263.24
25
173.67
729.72
365.13
0
531
225.82
305.18

541.09
30
200.84
1121.33
573.29
0
567.03
235.02
332.01

Equity capital
Deposits
Demand deposits
Savings deposits
Term deposits
Borrowings
RBI borrowings
Other liabilities & provisions
Total assets / liabilities

110
641.9
33.58
2.3
606.02
40.12
0
44.97
3393.77

200
685.7
226.89
17.31
441.5
45.22
38.88
40.29
992.29

200
1279.07
408.86
68.67
801.54
199.28
0
93.26
1815.26

200
2191.74
673.21
177.35
1341.18
154.7
0
198.41
2826

807.77
1385.12
230
2435
6.82
260.58

-12.89
23.07
348.48
99.7
86.53
50.27

37.18
57.78
38.18
55.93
71.35
6.79

23.33
24.37

33.28
36.34

34.68
37.38

Growth (%) :
Interest income
Interest expended
Provisions for contingencies / NPA etc.
PAT
Deposits
Advances
Margin ratios (%) :
PBDT / Operating income
PBDT (incl. NPA) etc. / Operating
Income

7.17
9.95

PAT / Operating income (%)

PAT (incl. NPA) / Operating income

15.88
16.91

20.95
24.01

20.85
23.55

Returns ratios (%) :

PAT / Net worth
PAT / Total assets
PBDT / Total assets
PBDT / Capital employed

12.22
0.92
1.36
14.29

17.42
2.89
4.58
18.13

23.87
2.72
4.53
23.79

Average return on advances

Average cost on deposits
Interest spread
Solvency ratio

17.72
8.92
8.8
11.6

20.83
7.24
13.59
6.21

21.43
5.99
15.44
8.09

0.52
583.04
22.59
0.37
0.06

0.42
29.94
24.47
1.11
0.14

0.26
3.95
22.2
1.44
0.13

23.53
0
0
7

13.02
0
0
20

13.92
1.24
100
37

Credit deposit ratio (times)

Incremental credit/deposit ratio (%)
Priority advances / advances (%)
Bad debt / Total advances (%)
Operating income / Total assets (times)
Capital Adequacy
NNPA Provision
Subordinate Debt Tier II
No. of Branches

5.57
8.35

1.28
0.15
0
0.41

0
0
0
0

Mar-99
12
mths
193.88
182.2
229.18
0
9.31
131.89
116.87
82.4
539.51
36.09
275.74
1903.8
867.6
0
1106.01
503.27
602.74
200
2915.11
981.52
346.51
1587.08
582.88
123.68
513.04
4336.35

41.63
66.62
13.81
30.48
33
95.05

29.7
31.8

18.56
20.65

26.41
2.3
3.68
19.37
17.11
6.89
10.22
4.01
0.38
74.51
18.04
0.84
0.12
11.86
1.75
135
61

Particulars
NPA in Rs. Crores
Total assets in Rs. crores
Profitability (%)
Contingent liabilities
Networth in Rs. crores
BPS
CPS
EPS
Equity capital in Rs. crores
PAT/Net worth (%)
PBDT/Capital employed (%)
PBDT/Capital employed (%)

Times Bank
1999(quarter 3)
39
3274
8.3
80
171
17.1
3.09
2.71
100
17.8
24
24

Times Bank
1997
10
19
1.5

PAT in Rs crores
PBDT in Rs crores
Depreciation in Rs crores

March 99 (Rs in Cr)

Particulars
Deposits
Advances
Income
Net Profit
Net Profit as% Working funds
Non Interest Income as % Total income
Staff Exp as % to Total Expenses
Net NPAs as % of Total Advances

HDFC Bank
2915
1401
444
82
1.89
15.33
6.1
0.73

HDFC Bank
1999 (quarter 3)
10
4349
18.56
193
339
16.95
5.6
4.12
200
26.4
19
19
Times Bank
1998
24
37
5

March 99 (Rs in Cr)

1999
27
38
8

1997
40
64
8

1996-99 (Linear Growth

Rate)
Times Bank
HDFC Bank Times bank
3011
43
51
1312
42
35
327
106
95
27
40
41
0.83
2.1
0.92
12.42
15.7
12.9
4.95
5.8
5.1
3.01

HDFC Bank
1998
63
105
13

1999
82
131
17

Appendix I
Weekly share prices
No
Date
B S E Sensex
H D F C Bank Times Bank
4
22-Jan-99
3287
59
29-Jan-99
3323
58
5-Feb-99
3283
58
12-Feb-99
3259
52
19-Feb-99
3343
53
26-Feb-99
3313
53
5-Mar-99
3453
58
12-Mar-99
3731
60
19-Mar-99
3734
56
26-Mar-99
3670
59
2-Apr-99
3711
68
9-Apr-99
3525
65
16-Apr-99
3464
67
23-Apr-99
3503
68
30-Apr-99
3268
61
7-May-99
3568
68
14-May-99
3921
78
21-May-99
4043
76
28-May-99
3882
74
4-Jun-99
3950
79
11-Jun-99
4046
76
18-Jun-99
3998
76
25-Jun-99
4185
76
2-Jul-99
4168
74
9-Jul-99
4320
75
16-Jul-99
4637
84
23-Jul-99
4657
86
30-Jul-99
4607
87
6-Aug-99
4580
83
13-Aug-99
4570
82
20-Aug-99
4645
82
27-Aug-99
4753
88
3-Sep-99
4831
89
10-Sep-99
4788
101
17-Sep-99
4661
98
24-Sep-99
4719
94
15
1-Oct-99
4764
98
14
8-Oct-99
4859
98
14
15-Oct-99
5009
102
16
22-Oct-99
4873
102
16
29-Oct-99
4641
95
15
5-Nov-99
4409
93
14
12-Nov-99
4638
94
15

19-Nov-99
26-Nov-99
3-Dec-99
10-Dec-99
17-Dec-99
24-Dec-99
31-Dec-99

4596
4681
4682
4840
4731
4904
4898

91
95
123
155
170
174
155

15
18
19
23
24
26
23

114

17.8

Particulars
EPS
P/E
CPS
BV
P/B
Profitability (%)
Networth (Rs. In crores)
Total assets (Rs. In crores)
Liquid (%)
Investments (%)
Fixed assets (%)
Other assets (%)
Advances (%)
Net NPA (Rs. In crores)
Contingent liabilities (%)
C/D
Employee efficiency
RONW
Spread
Capital Adequacy ratio

Centurian Bank Times Bank HDFC Bank

2.23
2.55
4.68
9.68
9.48
34.53
7.51
3.09
5.6
14.66
16.69
19.61
1.47
1.45
8.23
6.33
8.31
18.56
167.1
169
339
3104
3274
4349
16
21
12
32
31
44
1.4
2.65
3.02
3.4
3.7
8.61
46
40
32
50.37
39
10.22
17
80
193
63
43
48.04
5.54
7.3
5.22
14.4
17.77
26.14
6.42
4.46
4.57
8.45
9.97
11.86

Quality of
Assets
Management
Earnings

46
11
48

42
19
45

24
5
23

Asset growth

97.19

34.71

53.71

Global Trust Bank

8.14
8.23
8.14
32.27
2.08
12.09
290
5200
11.6
37
6.24
4.14
40
45.5
89
51
6.9
26.64
2.47
11.97

44
3
24
37.52