Q3results_Allahabad_Bank ALLAHABAD BANK A tradition of trust
www.allahabadbank.in
Ref. No. HO/SD/560 Date: 11.02.2020
The Vice President National Stock Exchange of India Ltd. Exchange Plaza, Bandra- Kurla Complex Bandra East, Mumbai-400 051
The Vice President BSE Ltd. 25, P.J.Towers Dalal Street Mumbai-400001
Dear Sir/ Madam,
Subject: Un-audited (Reviewed) Standalone and Consolidated Financial Results of the Bank for the third quarter and nine months period of FY 2019-20 ended on December 31, 2019
In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a copy of Un-audited (Reviewed) Standalone and Consolidated Financial Results of the Bank including Segment Results for the third quarter and nine months period of FY 2019-20 ended on December 31, 2019 along with the Limited Review Report of the Statutory Central Auditors of the Bank. The Financial Results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in its meeting held on date i.e. 11.02.2020 at Kolkata.
The Board meeting commenced at f5;oohrs and concluded at ·1?-.'2~ hrs.
This is for your kind information, records and dissemination please.
Yours faithfully,
Company Secretary and Compliance Officer
2, ~ ~'lIBf ~. ct,'le:lcfildl - 700 001 1:fi°R : 033-2242 0851 /3373/0900/0912/0883, 2210-3777, item : 2248-1771 2, Netaji Subhas Road, Kolkata - 700 001, Ph. : 033-2242-0851/3373/0900/0912/0883, 2210-3777, Fax : 2248771
ALLAHABAD BANK REVIEWED STANDALONE FINANCIAL RESULTS
. for the Quarter and Half Year ended 31st December, 201 9
SI. Quarter Ended Nine Month Ended Year Ended No. Particulars 31.12.2019 30.09.2019 31.12.2018 31.12.2019 31.12.2018 31.03.2019
Reviewed Reviewed Reviewed Reviewed Reviewed Audited 1 Interest Earned 422568 411176 422825 1266055 1282730 1686429 l{a) +(bl+ !cl +Id) (a) lnteresUDiscount on Advances/bills 282592 275143 274263 845575 869435 1118573 (b) Income on Investments 122326 126316 135401 381884 362546 494283 (c) Interest on Balances with Reserve Bank of India 7612 8147 10047 24650 34419 41365 and other inter bank funds (d) Others 10038 1570 3114 13946 16330 32208
2 Other Income 63467 51114 52863 157019 113434 170021 A TOTAL INCOME (1)+(2) 486035 462290 475688 1423074 1396164 1856450 3 Interest Expended 288808 283605 282958 851715 857448 1135349 4 Operating Expenses (e) + (f) 107459 115398 115833 332350 325441 444400
(e) Employees Cost 57977 70987 68431 195116 188175 252987 (f) Other operating expenses ( All items exeeeding
10% of the total expenditure excluding interest expenditure have been shown separately) 49482 44411 47402 137234 137266 191413
B Total Expenditure (3) + (4) excluding 396267 399003 398791 1184065 1182889 1579749 Provisions and Continaencies C Operating Profit (A· B) 89768 63287 76897 239009 213275 276701 (oroflt before Provisions & Contingencies) D Provisions ( other than tax) and Contingencies 309232 274060 149534 684172 661420 1189790
of which provisions for Non-performing Assets 300298 272196 190000 682724 648225 1176113 E Exceptional Items 0 0 0 0 0 0 F Provision for Taxes (20838) 632 644 (47930) 1844 (79693) G Net Profit (+)/Loss(·) from Ordinary Activities (198626) (211406) (73281) (397233) (449989) (833396) l!C-D-E-Fl H Extraordinary Items (net of tax expenses) 0 0 0 0 0 0 I Net Proflt(+)/Loss(-) for the period (G-H) (1986261 (2114061 (73281 l (397233) (4499891 (8333961 5 Paid-up equity share capital 372172 372172 144399 372172 144399 209684 'Face Value@ Rs. 10 oer Share) 6 Reserves excluding Revaluation Reserves (As
per balance sheet of previous accounting year) 408980 408980 686742 408980 686742 408980
SI. Quarter Ended Nine Month Ended Year Ended N.-. Particulars 31.12.2019 30.09.2019 31.12.2018 31.12.2019 31.12.2018 31.03.2019
Reviewed Reviewed Reviewed Reviewed Reviewed Audited - 7 Analytical Ratios
(i) Percentage of shares held by Government of 92.01 92.01 79.41 92.01 79.41 85.82 India (ii) Capital Adequacy Ratio ( % ) 8.71 10.92 10.42 8.71 10.42 12.51
(a) GET 1 Ratio(% ) 6.71 8.05 7.06 6.71 7.06 9.65 (b) Additional Tier 1 Ratio (%) 0.00 0.03 0.09 0.00 0.09 0.03
(iii) Earning per share (EPS) Basic & Diluted rn (5.34) (5.68) (5.29) (11.08) (40.15) (65.34) (iv) a) Amount of Gross Non-Performing Assets 3214992 3146753 2821879 3214992 2821879 2870478
b) Amount of Net Non-Performing Assets 744927 850209 1086526 744927 1086526 741931 c) % of Gross NPAs 18.93 19.05 17.81 18.93 17.81 17.55 d) % NetNPAs 5.13 5.98 7.70 5.13 7.70 5.22
(v) Return on Assets (Annualised) (%) (3.26) (3.50) (1.24) (2.20) (2.51) (3.48) Items of other operating Expenses Exceeded 10% of total expenditure excluding interest Expenditure Rent, Taxes & Lighting 12802 10670* 11470* 33510 32335* 43507* * Not exceeding 10% of total expenditure excluding Interest Expenditure
Notes on Accounts as per Annexure
(K. Ramachandran) Executive Director ~ Executive Director
General Manager Finance & Accounts and CFO
(B.~ahoo) Dy. General Manager (Finance & Accounts)
Asst. General Manager (Finance & Accounts)
Statutory Central Auditors (In terms of our report of even date)
For Mis JBMT & Associates For M/s Prakash S. Jain & Co.
Place : Kolkata Date :11.02.2020
for the Quarter & Nine Months ended 31st December, 2019
SI. Quarter Ended Nine Months Ended Year Ended No. Particulars 31.12.2019 30.09.2019 31.12.2018 31.12.2019 31.12.2018 31.03.2019
Reviewed Reviewed Reviewed Reviewed Reviewed Audited 1 Interest Earned 424095 412462 424073 1270111 1286384 1691577
l!al +!bl+ (c) +(dl (a) Interest/Discount on Advances/bills 282592 275142 274263 845576 869435 1118573 (b) Income on Investments 123853 127602 136648 385937 366198 499418 (c) Interest on Balances with Reserve Bank of India 7613 8148 10048 24652 34420 41378
and other inter bank funds (d) Others 111037 1570 3114 13946 16331 32208
2 Other Income 76862 60061 65602 186482 140874 189061 A TOTAL INCOME (1)+(2) 500957 472523 489675 1456593 1427258 1880638 3 Interest Expended 288834 283628 282975 851784 857506 1135428 4 Operating Expenses (e) + (f) 121590 124244 131647 362976 355215 478617 (e) Employees Cost 58553 71455 68917 196698 189666 255115 (f) Other operating expenses ( All items exeeeding 63037 52789 62730 166278 165549 223502
10% of the total expenditure excluding interest expenditure have been shown separately)
B Total Expenditure (3) + (4) excluding 410424 407872 414622 1214760 1212721 1614045 Provisions and Contlnaencles C Operating Profit (A· B) 90533 64651 75053 241833 214537 266593 !(profit before Provisions & Continaenclesl D Provisions ( other than tax) and Contingencies 309254 274059 149537 684194 661422 1189951
of which provisions for Non-performing Assets 300298 272197 190000 682725 648225 1176113
E Exceptional Items 0 0 0 0.00 0.00 0 F Provision for Taxes (20639) 911 199 (47251) 2333 (77620) G Net Profit (+)/Loss(-) from Ordinary Activities (198082) (210319) (74683) (395110) (449218) (845738) l!C·D-E-F) H Extraordinary Items (net of tax expenses) 0 0 0.00 0.00 0.00 I Net Proflt(+)/Loss(-) for the period (G-H) (1980821 (2103191 (746831 (3951101 (449218) (845738) 5 Paid-up equity share captal 372172 372172 144399 372172 144399 209684 l(Face Value@ Rs. 10 per Share) 6 Reserves excluding Revaluation Reserves (As per 435518 435518 725530 435518 725530 435518
balance sheet of previous accounting year)
~: Quarter Ended Nine Months Ended ·vearEnded o, Particulars 31.12.2019 30.09.2019 31.12.2018 31.12.2019 31.12.2018 31.03.2019
Reviewed Reviewed Reviewed Reviewed Reviewed Audited .... 7 Analytical Ratios
(I) Percentage of shares held by Government of 92.01 92.01 79.41 92.01 79.41 85.82 India
(Ii) Capital Adequacy Ratio ( % ) 8.65 10.88 10.59 8.65 10.59 12.59 (a) GET 1 Ratio (% ) 6.65 7.99 7.23 6.65 7.23 9.72 (b) Additional Tier 1 Ratio(%) 0.00 0.04 0.09 0.00 0.09 0.03
(iii) Earning per share (EPS) Basic & Diluted m (5.32 (5.65' (5.39) (11.02' (40.08) (66.30) (iv) a) Amount of Gross Non-Performing Assets 3214992 3146753 2821879 3214992 2821879 2870478
b) Amount of Net Non-Performing Assets 744927 850209 1086526 744927 1086526 741931 c) % of Gross NPAs 18.93 19.05 17.81 18.93 17.81 17.55 d)%NetNPAs 5.13 5.98 7.70 5.13 7.70 5.22
(v) Return on Assets (Annualised) (%) (3.18 (3.43) (1.25) (2.16) (2.54) (3.48) Items of other operating Expenses Exceeded 10% of total expenditure excluding interest Expenditure
Rent, Taxes & Lighting 13014 11011* 11757* 34226* 32975* 44583* • Not exceeding 10% of total expenditure excluding Interest Expenditure
Notes on Accounts as per Annexure
(K. Ramachandran) Executive Director
~ (Finance & Accounts and C1;'.'0)
I
. ''-~"..: (~ Asst. General Manager (Finance & Accounts)
Statutory Central Auditors (In tenns of our report of even date)
For Mis R. Gopal & Associates Chartered Accountants " A·
FRN : 000846C :<. y..V. ~
Notes on Accounts forming part of Reviewed Standalone & Consolidated Unaudited Financial Result of the Bank for the Quarter and Nine months ended 31.12.2019
1. The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on February 11,2020. The results have been subjected to limited review by the Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per the requirements of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, as amended
2. The above financial results for the quarter / Nine months ended December 31,2019 have been prepared in accordance with AS-25 'Interim Financial Reporting issued by ICAI following the same accounting policies and practices as those followed in the Annual Financial Statements for the year ended March 31,2019
3 The financial results for the quarter/ nine months ended December 31,2019 have been arrived at after considering provision for loan losses, restructured assets, standard assets, stressed sector accounts, employees' wage revision, Income Tax, depreciation on investments and fixed assets, provisions for employees' benefits and other necessary provisions on the basis of prudential norms and directions issued by RBI. Provision for employee benefits pertaining to Pension, Gratuity and Leave Encashment has been made on the basis of actuarial valuation based on AS- 15 (Revised) issued by The Institute of Chartered Accountants of India,
4. In accordance with RBI Circulars DBRNo.BP.BC.1/21 06.201/2015-16 dated July 01,2015 Banks are required to make Pillar 3 disclosures under Basel Ill Capital requirements. The disclosures are available on the Bank's website www.allahabadbank.in. These disclosures have not been subjected to limited review by the Statutory Central Auditors of the Bank.
5. Based on the available financial statements and declaration from borrowers, the Bank has estimated the liability towards Unhedged Foreign Currency Exposure to their constituents in terms of RBI circular DBOD.NO.BP BC 85/21 06 200/2013-14 dated January 15 tl akds Tj 3.84 0 Td 110 Tz (6Tj 5.04 0 Td 101 .04 0 Td 96 Tz 630 Td 91 Tz (1 Td 105 Tz (n) Tj 5.52 0 Td 649Tj 5.52 0 Td 649Tj 5.52 0 T Tj 5.76 0 Td (e) T) Tj 9.12 0 Td 106 Tz (w) Tj 7.2 06d 57 Tz ( 0 Td 112 Tz (k) Tj 5.28 0 Td 107 Tz Td 110 T Tz (c) T 110 Tz (Tj 5.76O) Tj 2.64 0 Td 101 Tz (T6 3.84 0 Td 110 59Tz (P ) Tj 10. Tz Td Td 106 Tz (7.2 0 Td 10107 Tz (s) Tj 5.04 0 Td 119 Tz j 3.84 0 Td 110 Tz (6Tj e) Tj 5.28 0 Td 103 Tz (i) Tj 2.16 0 Td 1 110 T Tz (c) T Td 96 Tz (d) (u) Tj 5.28 0 Td1 110 T Tz (c) T Td 96 T 112 Tz (c) Tj 5.28 0 Td 92 Tz (i) Tj 0.56 0 Td 92 Tz (i) Tj 1.92 0 Td 98 Tz (m ) Tj 14.88 0 Td 91 Tz (e) Tj 5.52 0 Td 91 Tz 105 Tz (e) Tj 5.52 0 Td 4.56 0 Td 105 Tz Td 82 Tz (.) Tj 2.16 0 3.12 0 Td 91 Tz (s ) Tj 10.32 0 Td 105 Tz (e) Tj 5.526 0 Td (e) Tj 5.76 0 Td 91 Tz (d ) Tj 9.36 0 Td 95 Tz (M) Tj 712 0 Td (J) Tj 4.32 0 Td 110 Tz (u) Tj 76 0 Td 91 Tz (d ) Tj 9.36 0 Td4 0 Td 87 Tz (h ) Tj 9.17) Tj 5.04256j 2 Td 119 Tz (f ) Tj6Tz (.) Tj 2.16 B) Tj 5.52 0 Td 2j 6.48 0 (n) Tj 5.52 0 Td 110 Tz6 92 Tz (i) Tj 5.28 0 Td 92 Tz 9.12 0 Td 91 Tz (s) Tj 4.32 0 Td 105 Tz (e) Tj 5.52 0 Td 107 Tz (c) Tj 5.04 0 Td 101 Tz 92 Tz (i) Tj 1.92 0 Td 119 Tz (t) Tj 3.12 0 Td ) Tj 1.92 0 Td 110 Tz (a) Tj 5.76 0 Td (b) Tj 5.76 Tz (n ) Tj 11.76 0 Td Td 101 Tz (u) Tj 5.28 01 Tz (e) Tj 5.28 0 Td 107 Tz (s) Tj 5.04 0 Td 94 Tz (' ) Tj 8.16 0 Td 91 Tz hTz (u) Tj 5.28 110 Tz (t) Tj 2.88 0 Td 92 Tz (i) Tj 1.92 0 Td 107 Tz (m) Tj ) Tj 9.6 0 Td 112 Tz (s) Tj 5.28 0 Td (s) Tj 5.28 0 Td 1 115 Tz (r) Tj 39 (s ) Tj 10.326 Tz (7.2 0 Td 10d 105 Tz (e) Tj 5.52 0 Td07 Tz (s) Tj 5.04 0 Td 4 Tz (m) Tj 8.16 0 Td 91 Tz (R) Tj 6.24 0 Td 111 Tz (B) Tj 6.96 0 Td 55 Tz (I ) Tj 6.24 0 Td 0 Td 91 Tz (e j 7.44 0 T105 Tz N Td 119 Tz (td 110 Tz (a) Tj 5.76 0 Td 115 Tz (r) Tj 3.6 35 Tz (u) Tj 56.92 0 Td 115 Tz (r) Tj 3.6 0 Td 101 Tz (u) Tj 5.28 0 Td 103 Tz (l) Tj 2.16 0 Td9 110 Tz (a) T07 Tz Td107 Tz (s) Tj 5.04 0 Td 1 103 Tz (B) Tj 6.48 0 Td 111 Tz (O) Tj 8 0 Td 91 Tz (dz (D) Tj 7.2 0 Td 92 Tz (.) Tj 2.88 0 Td 101 Tz 9.36 0 Td 6.96 0 Td 107 Tz8 ) Tj 6.24 0 Td 105 Tz (2) Tj 5.52 0 Tdd 91 Tz (1) Tj 4.8 0 1 Td 119 Tz (t420 Td 110 Tz j 5.76 0 Td3 Td 914 (l) Tj 2.16 0 T280 Td 110 Tz .2 0 Td 1010Td 914 (l) T 5.52 0 Td 101 Tz 8 ) Tj 6 5.76 0 Td 91 Tz (2) Tj 5.52 0 Td 64 Tz (1 ) Tj 8.64 0 Td j 4.8 0 Td 110 Tz (6) Tj 5.76 0 Td 82 Tz (.) Tj 2.8 (a) T07 Tz Td2) Tj 6 0 Td (0) Tj 6 0 76 0 Td 91 Tz (d ) Tj 9 64 Tz 0 Td 92 Tz (r ) T 105 Tz (2) Tj 5.52 0 Td 114 Tz (0) Tj 6 0 Td Td 91 Tz (1) Tj 4.8 0 Td 114 Tz (3) Tj 6 0 Td 1 91 Tz (s) Tj 4.5.28 0 Td 129 Tz (/) Tj 3.36 0 T5 Tz (P ) Tj 10.32 0 Td 96129 Tz (/) Tj o) Tj 5.76 0 Td ) Tj 10.32 0 Td 92 Tz ( (8) Tj 5.04 0 Td 101 Tz (5) Tj 5.28 0 TTj 5.52 0 Td 110 Tz (e) Tj 5.76 0 Td 9 3.34Td 88 Tz (1.68 0 Td 114 Tz (o) Tj 6 0 Td 91 Tz (88 0 Td 101 6129 Tz" 95 Tz (M) Tj 7 87 Tz (n ) Tj 8.64 0 Td 103 Tz (A) Tj 6.48 0 T11 Tz (B) Tj 6.96 0 Td z (g) Tj 5.52 0 Td 114 Tz (5 ) Tj 9.6 0 Td 84 Tz f (i) Tj 0.56 0 Td) Tj 5.28 0 Td 107 Tz (v) Tj 5.04 0 Td 103 Tz (i) Tj 2.12 Tz (r ) T 114 Tz110 Tz (a) Tj 5.76Tz (v)Sn ) Tj 8.64 0 Td Tz (i)M (c) T Td 96 T 114 TzE52 0 Td 142 0 Td 92 Tz (h) Tj 4.32 0 Td 110 Tz 5.04 0 Td 101 Tz ) Tj 6 (s) Tj 58 Tz Td Td 10 (e ) Tj 9.36 0 7 Tz (v) Tj 5.04 0 Td 103 105 Tz (o) Tj 5.52 0 Td 98 Tz (m ) Tj 14.88 0 Td 91 Tz (b) Tj 4.8 0 Td 8 0 Td 105 Tz (a) 2.64 0 Td 102 T 95 Tz (C) Tj 6.48 0 Td 110 Tz (a) Tj 5.76 0 Td Tz (d) Tj 5.04 0 107 Tz (c) Tj 5.04 0 Td 110 Tz.52 0 Td 101 Tz (n) Tj 5.28 0 Td 102 Tz 96 Tz (o) Tj 5.04 0 Td 119 Tz (f ) Tj 6.48 0 Td 95 Tz (C) Tj 6.48 0 Td 101 Tz (h) Tj 5wlosu r ow25 Ils
a7-26.64 Td 91 Tz (5) Tj 4.8 0 Td 57 Tz ( 0 Td 1 5.28 0 Td 92 Tz 110 Tz (0 Td 70 9Tz (v)Sn ) Tj 8.64 0 Td Tz (i)M (c) T Td 96 T 114 TzE52 0 Td 142 0 Td d 102 T 95 Tz (C) Tj 6.4 Tz (o) Tj 5.04 0 Td 119 (1 Td 105 T.04 0 Td 101 Tz (s) Tj 5.28 0 Td 105 Tz (e) Tj 5.52 0 Td 197 Tz (c) Tj 4.56 0 Td (s) Tj 4.32 0 Td 105 Tz 84 Tz (r) Tj 2.64 0 Td 101 Tz (e) Tj 5.28 0 Td 107 Tz (s) Tj 5.04 0 Td Tz (C) Tj 6.48 0 Td 101 Tz (h) Tj 5(e ) Tj 10780 Tz (l) Tj 1.68 0 Td 110 Tz (o) Tj ) Tj 3.36 0 Td 110 Tz (t) Tj 2.88 0 Td 105 Tz (e) Tj 5.52 0 Td 107 Tz (r) Tj 3.36 0 Td 101 Tz (e) Tj 5.28 0 Td 91 Tz (d ) 103 Tz (A) Tj 6.48 0 Td 101 Tz 1.68 0 Td 110 Tz1 110 T Tz (c) T Td 96 07 Tz (v) Tj 5.04 0 Td 103 Tz (i) Tj 2 0.56 0 Td) (i) Tj 2Tj 2.88 0 Td 100 Td (d ) Tj 11.28 0 Td (o) Tj 5.04 0 Td 119 Tz (t) Tj 3.12 0 Td 96 Tz ( Tj 2.16 0 Td 110 Tz (o 92 Tz (l) Tj 1.92 0 Td ) Tj 5.04 0 Td 119 Tz (f (r) Tj 39 (s ) Tjj 5.526 0 Td (e) Tj 5.76 0 Td 91 Tz (d ) Tj 9.36 0 Td 95 Tz (M) Tj 7dd 91 Tz (1) Tj 4.8 0d 101 Tz (5) Tj 5.28 0 TTj 5.52 0 Td 110 Tz (e) Tj 5.76 0 Td 9 5.28 0 Td 112 Tz4.56 0 Td 105 Tz (5 ) Tj 9.84 0 Td 88 Tz (B) Tj 5.52 00.32 0 Td d 115 Tz (r) Tj 32110 T Tz (c) T 8j 7.44 080 Tz (l) Tj 1.68 0 Td 1 Tj 5.76 0 Td (b) Tj 5.70105 Tz (2) T ) Tj 10.08(o) Tj 5.76 0 Td 1 Tj 6 (s) Tj 58 Tz TdB) Tj 5: 0 Td 87 Tz (h ) Tj 9.18td 110 Tz (a) Tj 5.76Bl n rt tn c(n) Tj 5.28 0 Td 1 Td 100 Td (d ) Tj 11.28 0 Td (s) Tj 4.8 0 Td 112 Tz (s) Tj 5.28 0 Td 105 Tz (e) Tj 5.52 0 Td 197 Tz (c) Tj 4.56 0 Td (s) Tj 4.32 0 Td 105 Tz 84 Tz (r) Tj 2.64 0 Td 96 Tz (d) Tj 5.04 0 Td 103 Tz (i) Tj 2.16 0 Td 1114 Tz (3) Tj 6 0 Td 130 Tz (-) Tj 474 Td 96 T 99 Tz (r ) Tj 4 0 Td 96 Tz (d) Tj 5.04 0 Td 10d 110 Tz (u) Tj 5.76 0 Td 115 Tz (i) Tj 2.4 0 110 Tz (a) Tj 5.76 0 Td 101 Tz (n) Tj 5.28 0 Td105 Tz (g) Tj 5.52 0 Td 90105 Tz (2) T pe ci 2 0 Td 1 0.56 0 TdTj 5.52 0 101 Tz 9.36 0 Td 6.96 0 Td 9 91 Tz (1) Tj5.76 0 Td 92 Tz 15 Tz (r) Tj 3.6 91 Tz (1) Tj 4.8 0 Td 147 Tz (/)76 0 Td 91 Tz (d ) Tj 9 64 Tz 0 Td 9 8.64 0 Td 101 Tz (o) Tj 5.28 0 Td 87 Tz (A(r ) Tj 4 0 Td 96 Tz (n ) Tj 9.6 0 Td 69 Tz (i 92 Tz (t) Tj 2.4 0 Td7 Tz (r) Tj 3.36 0 Td 101 Tz (e) Tj110 Tz 0 Td 112 Tz (k) Tj 5.28 0 Td 107 Tz Td 110 T Tz (c) T 110 Tz (T101 Tz (n) Tj 5.28 0 Tdd 92 Tz (i) Tj 66 Tz Td 110 T 2 Tz (t) Tj 2.4 0 Tz (s ) Tj 11.28 0 Td 91 Tz (Tj 3.84 0 Td 110 Tz (6Tj ) Tj 11.28 0 Td 93 Td 91e0 Td 107 Tz Td5101 Tz )(n) Tj 5.28 0 Td23 Tz (iJTz (a) Tj 5.76 6.48 96 T 112 Tz6 (c) Tj 5.28 0 T01 Tz (T6 3.84 0 Td 110 T 112 Tz752 0 Td 801 Tz (a) Tj 5.2830 Td 110 Tz (e) Tj 5.764 (l) T 5.52 0 Tdz8 ) Tj 6.24 0 Td Td 114 Tz (o) Tj 6 0 Td6 0 Td 91 Tz j 5.28 0 T01 Tz (T3 0 Td 87 Tz (h ) Tj 9.19) Tj 5.0424 1.6-25 91 Tz T 112 Tz791 Tz j 5.28 0 T (I) Tj 1.68 0 Td 105 Tz103 Tz (i) Tj 2.16 0 Td 0 Td 105 Tz (a) Tj 5.52 0 Td 176 0 Td (b) Tj 5.70105 Tz (2) T ) Tj 10.0119 Tz (t) Tj 3.12 0 Td 97 Tz (s ) Tj 11.28 0 Td 115 Tz (r) Tj 5.28 0 Td 92 Tz (n) Tj 5.52 0 Td 110 Tz 05 Tz (a) Tj 5.5 (a) Tj 5.76 0 Td 129 Tz07 Tz (r) Tj 3.36 105 Tz (o) T 11.52 0 Td103 Tz (A) Tj 6.48 0 Td 99 Tr) Tj 2.64 0 Td 101 Tz (e) Tj 5.28 0 Td 105 Tz (q) Tj 5.52 0 T110 Tz 0 Td 1 5.52 0 Td 91 Tz (5) Tj 4.8 0 Td 57 Tz ( 0 Td 17 5.52 0 Td 119 Tz (D) Tj 7.2 0 T) Tj 5.28 0 Td 105 Tz (a) Tj 5.r) Tj 3.36 0 Td 1(l) Tj 2.16 0 Td 92 Tz (i) Tj 1.92 0 Td 10 Tz (e) Tj 5.76 0 Td 103 Tz (i) Tj 2.16 0 Td 184 Tz (r) Tj 2.64 0 Td 101 Tz c) Tj 5.04 0 Td 1107 Td 1) Tj 5.774 0 Td 96 Tz (g6 0 Td (b) Tj 5.73 Tz (i) Tj 2.16 0 Td 1114 Tz (3) Tj 6 0 Td 1 (t) Tj 3.12 0 Td 96 Tz ( Tj 2.16 0 Td 110 Tz (o05 Tz (a) Tj 5.52 0 Td 176 0 Td (b) Tj 5.70105 Tzt(r) Tj 39 (s ) Tjj 5.52 (c) Tj 5.28 0 Td 92 Tz (i) Tj 1.92 0 T 32110 T wr) Tj 39 (s ) T 0 Td 107 Tz (r) Tj 3.36 0 Td (sg6 0 Td (b) Tj 5 (m) Tj ) Tj 9.6 0 107 Tz (r) Tj 3.36 0 TB) Tj 5.52 0 Td 105 Tz ( 115 Tz (r) Tj 3.6 0 Td 1107 Tz (B) Tj 6.72 0 Td 92 Tz (I) Tj 2.4 0 Td 55 Tz (. ) Tj 9.36 0 Td 92 Tz (P) Tj 5.76 0 Td 107 Tz (r) Tj 3 5.28 0 Td76101 Tz (o) Tj 52 0 Td 90105 Tz (2) T ) Tj 10.0 115 Tz (r) Tj 3.6 0 Td (o) Tj 5.52 0 Td Td 114 Tz (a) Tj 6 0 Td Td 10 (e ) Tj 9.36 0 7 Td 101 Tz (o ) Tj 11.52 0 Td (m 1.68 0 Td 105 Tz103 Tz N Td 119 Tz (td Tz (P) Tj 5.76 0 Td 1 Tz (d ) Tj 11.76 0 Td 96 Tz (o) 105 Tz (e) Tj 5.52 0 Td 4.56 0 Td 105 Tz Td 91 Tz (d ) Tj 11.52 Tz (o) 105 Tz (e) Tj 5.73 Tz (i) Tj 2.16 0 Td 101 Tz , (o) T 11.52 0 Td0 91 Tz (1) T (J) Tj 4.32 0 Td 110 Tz (u) Tj 5.76 0 Td 103 Tz (l) Tj 84 Tz (7(2) Tj 5.28 0 Td 52 0 Td )(n) Tj1.28 0 Td 5.76 0 Td (n) Tj 5.76 0107 Tz a) Tj 2 0.56 0 Td 87 Tz (n) Tj 4.56 0 Td 91 Tz (R) Tj 6.24 0 Td 119 Tz (t) T Tj48 0 Td 91 Tz T Tz (v) Tj 5.04 0 Td 101 Tz (e ) Tj 7d 105 Tz103 Tz R Td 119 Tz (t32110 T Tz (c) 01 Tz (a) Tj 5.285d 103 Tz (l) Tj 80112 Tz791 Tz j 7.44 0 Td 101 Tz (.) Tj 2.64 0 Td0 91 Tz (1) T (J) Tj 4.z (C) Tj 7.44 0 T (s) Tj 4.32 0 Td 105 Tz (e) Tj ) Tj 11.28 0 Td 91 Tz (Tj 3.84 0 Td 110 T03 Tz (i) Tj 2.16 0 Td 107 Tz (s) Tj 5.04 0 Td 112 Tz (c) Tj w) Tj 7.44 0 80 Tz (l) Tj 1.68 0 Td 114 Tz (o) Tj 6 0 Td 28 0 Td (c) Tj 5) Tj 5.76 0 Td 84 Tz () ) Tj d 114 Tz (5 ) Tj 9.6 0 Td 84 Tz 0 Td 119 Tz (5) Tj 6.228 0 Td (t ) Tj 6.6Tj 5.r) Tj 3.d 110 Tz (o) Tj 5.76 0 Td 107 Tz7 Tz (v) Tj 5.04 0 Td 103(t) Tj 3.12 0 Td 91 Tz () Tj 5.76 0 Td 103 Tz (i) Tj 2107 Tz (s) Tj 5.(i) Tj 2.16 0 Td 105 Tz -) Tj 4.08 0 Td 82z (2) Tj 5.52 0 Td 110 T7 Tz (c) Tj 5.52 i10 Tz (e) Tj 5.76 0 Td 10 Tz gro d 107 Tz7 4 Tz (m) Tj 8.16 0 Td 91 Tz (R) Tj 6.24 0 Td 15 Tz (r) Tj 3.6 0 Td 101 Tz (e) Tj 5.28 0 Td 103 Tz (i) Tj 2.16 0 Td 105 Tz (g) Tj 5.52 0 Td 94 Tz (r0 Td 105 Tz (e) Tj 5.52q (2) Tj 5.52 0 Td 110 T7 Tz (c) Tj 5.52 Tj 11.28 0 Td 96 Tz (a) Tj 5.04 0 Td (n) Tj 5.04 0 Td(f) Tj 3.36 0 Td 3.12 0 Td 91 Tz (s ) Tj 10.32 0 Td 105 Tz (e) 103 Tz (i) Tj 2.16 0 Td 105 Tz (g) Tj 5.52 0 Td 90105 Tz (2) T ) Tj 10.06 0 Td 119 Tz (5) Tj 6.24 0 Td 12 7.2 0 Td 92 Tz (i) Tj 1.92 0 Td .8 0 Td 105 Tz (e) Tj 5.52 0 Td (e) Tj 5.52 0 Td 91 Tz 105 Tz (e) Tj 5.52 0 Td 4.56 0 Td 105 Tz Td 91 Tz (d ) Tj 11.5
9. The Bank is carrying additional provision of Rs 1801.26 crore over and above the provisions required to be made in terms of Prudential norms issued by RBI, to ensure compliance with the PCA norms of Net Non-Performing Advances (NNPA)
10 Non-Performing Loan Coverage ratio of the Banks is 82.42% as on December 31, 2019.
11 In terms of RBI circular FIDO CO Plan BC 23/04 09 01/2015-16 dated April 7, 2016, the Bank has sold total PSLC to the tune of Rs 4 700 crore out of which PSLC General to the tune of Rs 3300 crore, PSLC Micro to the tune of Rs 1400 crore, for a consideration of net income of Rs 24.27 crore, up to December 31, 2019.
12. Divergence in asset classification and provisioning as per Risk Assessment Report (RAR) of RBI for FY 2018-19 were as under:
SI Amount( Rs No Particulars in crore)
---
10 Reported Net Profit /(Loss) as Tax for the year ended March 31,2019 (8,334)
(8,787) Adjusted (notional) Net ProfiU(Loss) after Tax for the year ended March
11 31,2019 after taking into account the divergence in provisioning
* Divergence in NPAs as on March '19 will not impact the Gross NPAs and Net NPAs during Q3FY20 as the accounts underlying had already been marked as NPA and provided suitably in 01 FY20 itself
** includes Rs 193/- crore towards provision for Standard Assets and additional provision of Rs 260/- crore for NPAs, which had been duly accounted for in current FY and would require incremental provision of only Rs 75.34 crore in Q3FY20.
In terms of SEBI guidelines, the said RBI divergence has already been disclosed by the Bank to the Stock Exchanges namely, NSE and BSE on December 12, 2019 within stipulated timeline.
13. The unaudited Consolidated Financial results are prepared in accordance with Accounting Standard 27 on Financial Reporting of Interests in Joint Ventures.
14 The unaudited consolidated financial statement of the group comprises the result of Allahabad Bank and its Joint Ventures namely Universal Sompo General Insurance Company Limited and ASREC (India) Limited. The Consolidated financial result has been prepared in accordance with Section 133 of the Companies Act, 2013 and Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements, 2015), as applicable
15. The Bank on January 03,2020 received a capital infusion fund of Rs 2153 crore from the Government of India towards contribution of the Central Government in the preferential allotment of Equity Shares (Special Securities / Bonds) of the Bank during the FY 2019-2020 as Government Investment. The Bank is maintaining the same as "Share Application Money" pending allotment In terms of RBI approval vide their letter No DORCO.BP No.6155/21 01 002/2019-20 dated January 31, 2020, the Bank shall consider the entire amount said capital infusion fund of Rs 2153 crore as CET 1 Capital from the date of actual receipt of fund i.e January 03,2020. The total CRAR of the Bank as on December 31, 2019 stood at 8.71%. Out of which CET 1 CRAR is 6.71 % and Tier 2 CRAR is 2.00 %. Taking into account the said GOI Capital infusion amount of Rs 2153 crore, the total CRAR would improve to 12 34% comprising CET 1 CRAR of 8.58% and Tier 2 CRAR of 3.76 %.
16 The Government of India, Ministry of Finance ,Dept of Financial Services vide their letter No. F.No.7/93/2019-BOA-I dated November 13,2019 have advised that the Alternate Mechanism (AM) has accorded in-principle approval to the proposed amalgamation of Allahabad Bank into Indian Bank with Indian Bank as Transferee Bank and Allahabad Bank as Transferor Bank.
17. During the current quarter, the Bank has raised Basel Ill compliant Tier 2 Bonds aggregating Rs 1500 crore and has exercised Call Option on Upper Tier 2 Bonds of Rs 500 crore and IPDI Bonds of Rs 150 crore and has paid principal along with due interest on 18.12.2019.
18 Up to nine month ended December 31, 2019, Three Hundred and Ninety (390) number of operational fraud cases were reported involving a total amount of Rs. 86.26 crore Out of these accounts, the Bank has recovered a total amount of Rs. 19.22 crore. No provision is written back during the current quarter
19 On September 20, 2019 vide the Taxation Laws (Amendment) Ordinance, 2019, the Government of India inserted section 115BAA in the Income Tax Act 1961, which provides domestic companies a non-reversible option to pay corporate tax at reduced rates effective from April 01,2019 subject to certain conditions. The Bank is currently in the process of evaluating this option
20. The Bank has reversed Rs 200.10 crores towards excess provision for taxation for the Assessment Years 2010-11 to 2014-15 held in the books as on 31 12 2019 partly based on the favourable orders / appeal effect received from the appellate authorities/ assessing officer and partly based on opinion from the tax consultant. Further, the Bank has reversed excess Provision for Taxation for Assessment Year 2017-18 amounting to Rs. 160.11 Crores based on the assessment order dated 28.12.2019. . (\ /
~ ---=- ~ ~A\!
21. Considering the Principle of Virtual Certainty of sufficient future taxable income, the Bank has recognised OTA of Rs. 1129.04 Crores on carry forward losses upto FY 2017-18. Based on the assessment order received for Assessment Year 2017-18 and as per Accounting Standard -22 issued by the Institute of Chartered Accountants of India, the Bank has reversed OTA of Rs. 139 08 Crores on provision for Bad and Doubtful Debts in the quarter ended 31.12.2019.
22. The figure for nine months ended December31,2019 have been arrived by adding the reviewed figures in respect of the half year ended September 30, 2019 and reviewed figures of quarter ended December 31,2019.
23. Figures for the corresponding previous period have been regrouped / reclassified wherever considered necessary
24 Details of Investor's complaints for the quarter ended December 31, 2019 •
Pending at the beginning of quarter 0 Received during the quarter 16 Disposed of during the quarter 16 Unresolved at the end of quarter 0
~~ (K. Ramachandran) Executive Director
Asst. General Manager (Finance & Accounts)
(D~~
Statutory Central Auditors
For M/s Nandy Halder & Ganguli Chartered Accountants
FRN: 302017E
(CA. Rana Pratap Nanci Partner
Membership No.- 051027 Partner
FRN : 320232E
FRN : 000846C
Membership No.- 051979
FRN :002423C
ALLAHABAD BANK
STANDALONE SEGMENT-WISE REVENUE, RESULTS, AND CAPITAL EMPLOYED FOR THE QUARTER & NINE MONTHS PERIOD ENDED 31-12-2019
ft In 1akhs) Ouarter ended Nine Months Period ended Ye ar ended
Putlcutars 31.12.2019 30.09.2019 31.12.20111 31.12.2019 31.12.20111 31.03.2019 (Reviewed I fRevlewedl /Reviewed\ fRevlew@dl fRevieWIHfl fAudltedl
PART-A Business Segment al Seamont Revenue
i) Treasurv Ooerations 145732 157402 150890 451746 375801 516919 ii} CoroorateNJholesale Bankina 131761 132562 130072 397256 414059 543494 iii) Retail Bankinq 169565 162768 163554 511945 519704 663797 M Other Bankina Business 38977 9559 31172 62127 86600 132240 Total 486035 462291 475688 1423074 1396164 1856450 Less: lnler Seamen! Revenue NIL NIL NIL NIL NIL NIL Net Sales/Income from Operation 486035 462291 475688 1423074 1396164 1856450 Segment Results - Prom(+)/ Loss(-) before Tax & after Interest from each
bl segment ii Treasury 18140 39175 62976 93483 -19607 -8030 ii) ComorateNJtlolesale Bankinq -30122 -213649 -183784 -351208 -571058 -960317 iii) Retail Bankino -239304 -36895 23047 -230601 73120 -52811 iv) Other Bankino Business 32246 6354 24869 48532 69978 107301 Total -219040 -205015 -72892 -439794 -447567 -913857 Less: i) Interest NIL NIL NIL NIL NIL NIL ii)Other Un-allocable Expenditure 425 5757 -255 5369 578 -768 iii)Other Un-allocable income NIL NIL NIL NIL NIL NIL Total Profit Bero re Tax -219465 -210772 -72637 -445163 -448145 -913089
Segment Assets i) Treasury 7388655 7460328 7241471 7388655 7241471 8224673 iii Corporale/Wholesale Bankino 10159698 10155204 9527545 10159698 9527545 9598331 iii) Retail Bankinq 6977691 6450098 6639873 6977691 6639873 6563194 iv) Other Bankinq Business 96857 100206 116468 96857 116468 117553 v) Unallocated Assets 347687 348679 310659 347687 310659 353826 Total Assets 24970588 24514515 23836016 24970588 23836016 24857577 Segment Uabllitles i) Treasurv 7130832 7134209 7045072 7130832 7045072 8036975 ii) Corporate/Wholesale Bankinq 9805181 9711281 9269142 9805181 9269142 9379285 iii\ Retail Bankfnq 6734209 6168139 6459790 6734209 6459790 6413414 iv) Other Bankino Business 93477 95825 113309 93477 113309 114871 v) Unallocated Liabilities NIL NIL NIL NIL NIL NIL Total Llabllltles 23763699 23109454 22887313 23763699 22887313 23944Stt5 v) Capital & Reserves 1206889 1405061 948703 1206889 948703 913032 Total Llabllities 24970588 24514515 23836016 24970588 23836016 24857577
c) Capital Employed Scqment Asscts-Seoment liabilities i) Treasurv 257823 326120 196399 257823 196399 187698 ii) CoroorateNv'holesale Bankino 354517 443923 258403 354517 258403 219046 iii) Retail Bankino 243482 281959 180083 243482 180083 149780 iv) Other Bankinq Business 3380 4380 3159 3380 3159 2682 v) Unallocated Assets 347687 348679 310659 347687 310659 353826 Total Capital Employed 1206889 1405061 948703 1206889 948703 913032
PART· B Geograohlc Segment a. Revenue
i. Domestic 486129 461123 469634 1419376 1374295 1828939 ii. lnternalional -94 1168 6054 3698 21869 27511 iii. Total 486035 462291 475688 1423074 1396164 1856450
b. Assets i. Domestic 24937355 24481372 23178818 24937355 23178818 24487553 ii. International 33233 33143 657198 33233 657198 370024 iii. Total 24970588 24514515 23836016 24970588 23836016 24857577
Notes on Segment Reporting: As per guldellnes of RBI on compllance with Accounting Standards, the Bank has adopted" Treasury Operations", "Corporate/Wholesale Banking" , "Retall Banking" and " Other Banking Operations" as Primary business segments and "Domestic" and "International" as gcogr.aphic scgmen.ts for the purpose of compliance wlth'AS-17 on Segment reporting Issued by ICAI.
The figures of tho previous period/year have been regrouped/rearranged wherever necessary so as to make them comparable with those of tho current Period.
~~ (K.Ramachandran) Executive Director
1\~~ ~~rdwaj) Asstl.Generar Manager (Finance & Accounts)
Statutory Central Auditors (In terms of our report of even date}
•... Place: Kolkata Dale : 11.02.2020
ALLAHABAD BANK CONSOLIDATED SEGMENT- WISE REVENUE, RESULTS, AND CAPITAL EMPLOYED
FOR THE QUARTER & NINE MONTHS PERIOD ENDED 31-12-2019 rr In lakhsl
Quuter ended Nine Months Period ended Ye.1r ended Pertlculars 31.12.2019 30.09.2011 31.12.2011 31.12.2019 31.12.2018 31.03.2019
1Revlewed1 1Revlewedl 'Reviewed' 'Reviewed) fRev\ewedl !Audited} PART-A Business Segment a) Segment Revenue
il Treasurv Ooerations 145732 157401 150890 451746 375801 516919 iil CorporateN\/holesale Banklnq 131761 132563 130072 397256 414059 543494 iii) Retail BankinQ 169565 162768 163554 511945 519704 663797 ivl Other Bankina Business 53899 19791 45159 95646 117694 172739 Total 500957 472523 489675 1456593 1427258 1896949 Less : Inter Segment Revenue NIL NIL NIL NIL NIL NIL Net Sales/Income from Operation 500957 472523 489675 1456593 1427258 1896949 Segment Results - Profit(+)/ Loss(·) before Tax & after Interest from each
bl segment i) Treasurv 18119 39175 62973 93462 -19610 -8191 iil ComorateN\/holesale Banking -30122 -213649 -183784 -351208 -571058 -960317 iii\ Retail Banking -239304 -36895 23047 -230601 73120 -52811 M Other Banking Business 33011 7720 23025 51355 71241 97194 Total -218296 -203649 -74739 -136992 -146307 -924125 Less: n Interest NIL NIL NIL NIL NIL NIL iilOther Un-allocable Expenditure 425 5757 -255 5369 578 -768 iii)Other Un-allocable income NIL NIL NIL NIL NIL NIL Total Profit Before Tax -218721 -209406 -74484 -142361 -146885 -923357
Seamen! Assets n Treasurv 7388655 7460328 7241471 7388655 7241471 8224673 iil ComorateN\/holesale Banking 10159698 10155204 9527545 10159698 9527545 9598331 iiil Retail Bankina 6977691 6450098 6639873 6977691 6639873 6563194 ivl Other Bankino Business 195716 191240 261080 195716 261080 216235 vl Unallocated Assets 349051 350004 312049 349051 312049 355233 Total Assets 25070811 24606874 23982018 25070811 23982018 24957666 Seamen! Liabilities n Treasurv 7130832 7134209 7045072 7130832 7045072 8036975 iil ComorateN\/holesale Banking 9805181 9711281 9269142 9805181 9269142 9379285 iiil Retail Banking 6734209 6168139 6459790 6734209 6459790 6413414 iv) Other Banking Business 175831 170860 219662 175831 219662 188422 vl Unallocated Liabilities NIL NIL NIL NIL NIL NIL Total 23846053 23184489 22993666 23846053 22993666 24018096 vl Caoital & Reserves 1224758 1422385 988352 1224758 988352 939570 Total Liabilities 25070811 24606874 23982018 25070811 23982018 24957666
c) Capital Employed Seamen! Assets-Segment llabllltles il Treasury 257823 326120 196399 257823 196399 187698 ii) CorporateN\/holesale Bankina 354517 443923 258403 354517 258103 219046 iii) Retail Bankina 243482 281959 180083 243482 180083 149780 iv) Other Bankina Business 19885 20379 41418 19885 41418 27813 vl Unallocated Assets 349051 350004 312049 349051 312049 355233 Total Caoltal Employed 1224758 1422385 988352 1224758 988352 939570
PART- B Geoaraohlc Segment a. Revenue
L Domestic 501051 471355 483621 1452895 1405389 1869438 ii. International -94 1168 6054 3698 21869 27511 iii. Total 500957 472523 489675 1456593 1427258 1896949
b. Assets i. Domestic 25037578 24573731 23324820 25037578 23324820 24587642 ii. International 33233 33143 657198 33233 657198 370024 iii. Total 25070811 24606874 23982018 25070811 23982018 24957666
Notes on Segment Reporting · 1 As· per guidelines of RBI on ccmpttance with Accounting Standards, the Bank has adopted " Treasury Operations",
"Corporatetwholesale Banking" , "Retail Banking" and " Other Banking Operations" as Primary business segments and "Domestic" and "International'' as geographic segments for the purpose of compliance with AS-17 on Segment reporting issued by ICAI.
2 The figures of the previous periodfyear have been regroupedfrearranged wherever necessary so as to make them comparable with those of the current Period.
~~ (K.Ramachandran) Executive Director ~ Executive Director
~ General Manager
~ Assll. General Manager (Finance & Accounts)
Statutory Central Auditors (In terms of our report of even date)
For M/s PL Tandon & Co.
Place: Kolkala Date . 11.02.2020
. •...
·-·--- ~
Limited Review Report on the Unaudited Standalone Financial results of Allahabad bank for the quarter and nine months ended 31st December 2019
To, The Board of Directors, Allahabad Bank, Kolkata
1. We have reviewed the accompanying statement of unaudited standalone financial results of Allahabad Bank for the quarter and nine months ended 3151 December 2019 .The disclosures relating to "Pillar 3 under Basel Ill Capital Regulations", as have been disclosed on the bank's website and in respect of which a link has been provided in the aforesaid statement, have not been reviewed by us. These statements are the responsibility of the Bank's Management and have been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.
2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of bank personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
3. These unaudited financial results incorporate relevant returns of 20 branches including integrated treasury branch reviewed by us and one foreign branch reviewed by other auditors specially appointed for this purpose. In the conduct of our Review we have relied on the review reports in respect of non-performing assets received from concurrent auditors of 15 branches. These review reports cover 54.55% percent of the advances portfolio of the bank. Apart from these review reports, in the conduct of our review, we have also relied upon various returns received from 3326 un reviewed branches and Offices of the bank.
4. Based on our review conducted as above, and limitations in scope as mentioned in Para 3 above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters.
5. Emphasis of Matter We draw your attention to note no. 09, and 21 of the notes to unaudited financial statements.
i. Regarding carrying additional provision of Rs.1801.26 Crores for NPA's at the rate higher than prudential norms prescribed by Reserve Bank of India as at December 31,2019, (Note no.09).
ii. Regarding deferred tax on bad and doubtful debts and carry forward losses up to 31st march 2018 and, (Note no. 21 )
Our conclusion is not modified in respect of these matters.
For M/s Nandy Halder & Ganguli Chartered Accountants
Statutory Central Auditors
Partner Membership No.- 051027
Partner Membership No.- 051979
Partner Membership No. - 055399
Place: Kolkata Date : 11.02.2020
Independent Auditor's Review Report On consolidated unaudited quarterly and year to date financial results of Allahabad Bank pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To, The Board of Directors, Allahabad Bank, Kolkata
1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Allahabad Bank ("the Parent") and its· jointly controlled entities for the quarter ended 31st December 2019 and for the period from 1st April 2019 to 31st December 2019 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, except for the disclosures relating to consolidated Pillar 3 disclosure as at 31 December 2019, as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been reviewed by us. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31st December 2018 and the corresponding period from 1st April 2018 to 31st December 2018, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.
2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" ("AS 25"), prescribed under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
4. The Statement includes the results of the following Joint Venture entities: A. Universal Sompo General Insurance Company Limited
(USGICL) B. ASREC (India) Limited
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the concurrent auditors referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, except for the disclosures relating to consolidated Pillar 3 disclosure as at 31st December 2019, as have been disclosed on the Bank's website and in
respect of which a link has been provided in the Statement and have not been reviewed by us, or that it contains any material misstatement.
6. We did not review the interim financial results of 15 branches included in the standalone unaudited interim t financial results of the entities included in the Group, whose results reflect total assets of Rs.34922.86 Crores as at 31st December 2019 and total revenues of Rs. 124.21 Crores and Rs.358.12 Crores and total net profit/ (loss) after tax of Rs.37.94 Crores and Rs.88.69 Crores for the quarter ended 31st December 2019 and for the period from 1st April 2019 to 31st December 2019_respectively, as considered in the respective standalone unaudited interim financial results of the entities included in the Group. The interim financial results of these branches have been reviewed by the concurrent auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches, is based solely on the report of concurrent auditors and the procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement is not modified in respect of the above matters.
7. The consolidated unaudited financial results includes the interim financial results which have not been reviewed of 3326 branches and offices included in the standalone unaudited interim financial results of the entities included in the Group, whose results reflect total assets of Rs.250708.11 Crores as at 31st December 2019 and total revenues of Rs.5009.56 Crores and Rs.14565.93 Crores and total net profit/ (loss) after tax of (Rs.1980.82 Crores) and Rs.(3951.10 Crores) for the quarter ended 31st December 2019 and for the period from 1st April 2019 to 31st December 2019 respectively, as considered in the respective standalone unaudited financial results of the entities included in the Group. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.
8. The consolidated unaudited financial results includes the interim financial results of two jointly controlled entities which have not been reviewed by their auditors, whose financial results reflect total assets of Rs.1130.84 Crores as at 31st December 2019 and total revenue of Rs.134.84 Crores and Rs.323.73Crores and total net profit/(loss) after tax of Rs. 5.49Crores and Rs.21.26 Crores for the quarter ended 31st December 2019_and for the period from 1st April 2019 to 31st December 2019 respectively, and cash flows (net) of Rs. 17.80 Crores for the period from 1st April 2019 to 31st December 2019, as considered in the consolidated unaudited financial results. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.
9. Emphasis of Matter
We draw your attention to note no. 09, and 21 of the notes to unaudited financial statements.
1. Regarding carrying additional provision of Rs.1801.26 Crores for NPA's at the rate higher than prudential norms prescribed by Reserve Bank of India as at December 31,2019, (Note no.09).
11. Regarding deferred tax on bad and doubtful debts and carry forward losses up to 31st march 2018 and, (Note no. 21 )
Our conclusion on the Statement is not modified in respect of the above matter.
Statutory Central Auditors
FRN : 30201 ?E
(CA. Arn Partner
Place: Kolkata Date : 11.02.2020