Profit and Loss Account: Sample Bank

FY-2014 FY-2015 FY-2016

I. Income
Interest earned 30,651,440 32,556,249 41,897,520
Other Income 2,736,301 6,282,400 7,805,349
Total 33,387,741 38,838,649 49,702,869
II. Expenditure
Interest expended 15,465,975 13,974,755 20,921,768
Operating expenses 11,964,229 11,893,934 15,533,202
Provisions and Contingencies 3,196,565 7,358,903 5,066,078
Total 30,626,769 33,227,592 41,521,048
III. Profit
Net Profit for the year 2,760,972 5,611,057 8,181,821
IV. Appropriations
Proposed Dividend 259,553 296,613 368,831
Corporate Dividend Tax 18,611 (20074) 43,654
Balance carried over to Balance Sheet 6,489,435 9,659,053 14,945,189

Balance Sheet: Sample Bank

FY-2014 FY-2015 FY-2016

Capital and Liabilities
Capital 3,456,689 3,481,415 3,684,358
Reserves and Surplus 34,679,490 41,369,735 64,280,362
Employees' Stock Options (Grants) Outstanding 919,086 548,017 369,172
Deposits 156,439,963 238,864,671 292,609,686
Borrowings 67,340,106 61,405,132 117,239,484
Other Liabilities and Provisions 24,283,405 28,694,195 30,323,596
Total 287,118,739 374,363,165 508,506,658

Assets
Cash and Balances with Reserve Bank of India 9,953,533 20,856,726 21,077,242
Balances with Banks and Money at Call and Short Notice 1,453,164 2,145,915 3,632,607
Investments 91,101,805 125,126,625 171,214,395
Advances 166,253,371 207,750,541 293,293,067
Fixed Assets 2,133,560 4,276,492 4,256,073
Other Assets 16,223,306 14,206,866 15,033,274
Total 287,118,739 374,363,165 508,506,658
Contingent Liabilities 579,542,087 369,660,202 343,692,398
Bills for Collection 3,175,756 6,493,241 10,534,742
Check: for TA

RATIOS
Dividend payout ratio 10.1% 4.9% 5.0%
Corporate dividend tax
Interest yield 11.0% 10.4%
Cost of funds 5.3% 5.9%
Spread 5.6% 4.5%
Average earning assets 296915710.5 401581575
NIM 6.3% 5.2%
Operating expenses to total income
Provisions and contingencies to total income
Other income to interest income 19.3% 18.6%
Growth rate in deposits 52.7% 22.5%
Growth rate in advances 25.0% 41.2%
Growth in TA 30.4% 35.8%
Credit to deposit ratio 87.0% 100.2%
Advances to TA
Investment toTA 52.4% 58.5%
Borrowings to Deposits 25.7% 40.1%
Other liabilities and provisions to Deposits 7.7% 6.0%
Fixed assets to TA 1.1% 0.8%
Other assets to TA 3.8% 3.0%
Cash to TA
Balances with banks and money at call
Depreciaiton to Fixed assets

Check: Equity multiplier (TA/TE)

Equity Capital to TA ratio
ROA
ROE

Balance Sheet: Sample Bank

FY-2014 FY-2015 FY-2016

Capital and Liabilities
Capital 3,456,689 3,481,415 3,684,358
Reserves and Surplus 34,679,490 41,369,735 64,280,362
Employees' Stock Options (Grants) Outstanding 919,086 548,017 369,172
Deposits 156,439,963 238,864,671 292,609,686
Borrowings 67,340,106 61,405,132 117,239,484
Other Liabilities and Provisions 24,283,405 28,694,195 30,323,596
Total 287,118,739 374,363,165 508,506,658

Assets
Cash and Balances with Reserve Bank of India 9,953,533 20,856,726 21,077,242
Balances with Banks and Money at Call and Short Notice 1,453,164 2,145,915 3,632,607
Investments 91,101,805 125,126,625 171,214,395
Advances 166,253,371 207,750,541 293,293,067
Fixed Assets 2,133,560 4,276,492 4,256,073
Other Assets 16,223,306 14,206,866 15,033,274
Total 287,118,739 374,363,165 508,506,658
Contingent Liabilities 579,542,087 369,660,202 343,692,398
Bills for Collection 3,175,756 6,493,241 10,534,742
Check: for TA

Cash flow projections:

Net profit
Depreciation
Change in liabilities
Change in assets
Cash flow to equity
Growth in cash flows
Cost of equity
Growth beyond 2025
Horizon value in 2025
PV in 2020

Sum of PV
Equity value
No. of shares outstanding
Value per share

Price to Earnings
Price to Book
ample Bank Pro Forma In
(Rupees in thousands)
FY-2017 FY-2018 FY-2019 FY-2020 FY-2021

61,802,362 80,424,896 87,671,154 97,198,670 114443053

9,773,458 11,606,649 13,997,106 20,284,539 19556898
71,575,820 92,031,545 101,668,260 117,483,209 133999951

36,677,460 48,368,183 50,470,665 54,961,348 65936366

18,348,299 22,097,310 25,426,072 32,547,314 34269702
5,699,531 7,958,880 10,746,333 11,314,761 12885859
60,725,290 78,424,373 86,643,070 98,823,423 113,091,928

10,850,530 13,607,172 15,025,190 18,659,786 20,908,023.59

444,929 523,754 630,789 820,654 995741.64230591

72,178 72,943 86,885 135,813 164788.887480586
21,627,912 13,010,475 14,307,516 17,703,319 19747493

(Rupees in thousands)
FY-2017 FY-2018 FY-2019 FY-2020 FY-2021

3,703,448 3,733,045 3,851,555 3,861,763 3,861,763

75,755,942 90,736,517 118,899,262 137,549,099 0
348,207 175,336 85,315 29,969 35165.93
385,365,206 510,287,663 590,723,294 748,603,088 941192630
165,955,205 204,106,221 128,955,756 121,497,132 152754118.98363
25,536,724 27,898,086 33,338,243 48,579,696 61077562.4149923
656,664,732 836,936,868 875,853,425 1,060,120,747 ₹ 1,316,217,832

20,164,945 22,079,033 29,482,304 39,282,964 ₹ 48,772,687

6,180,601 14,812,575 30,316,596 23,340,613 ₹ 28,979,087
215,668,123 288,734,270 254,845,482 304,210,872 ₹ 377,700,159
390,792,322 484,689,828 530,276,325 661,607,126 ₹ 821,433,879
4,499,658 4,644,222 11,069,436 12,067,051 ₹ 14,982,131
19,359,083 21,976,940 19,863,282 19,612,121 ₹ 24,349,890
656,664,732 836,936,868 875,853,425 1,060,120,747 ₹ 1,316,217,832
384,758,617 402,039,903 438,879,439 636,721,604
15,766,592 19,134,811 30,155,988 44,199,924
₹ 1,316,217,832

RATIOS
4.8% 4.4% 4.8% 5.1% 4.8%
13.9% 13.8% 16.5% 16.5%
 11.4% 11.5% 10.9% 10.8% 10.57%
7.6% 7.6% 7.0% 6.9% 6.7%
3.8% 3.8% 3.9% 3.9% 3.9%
540390557.5 700438859.5 801837538 902298507 ₹ 1,108,635,867.60
4.6% 4.6% 4.6% 4.7% 4.4%
24.0% 25.0% 27.7% 25.6%
8.6% 10.6% 9.6% 9.6%
15.8% 14.4% 16.0% 20.9% 17.1%
31.7% 32.4% 15.8% 26.7% 26%
33.2% 24.0% 9.4% 24.8%
29.1% 27.5% 4.6% 21.0% 24.2%
101.4% 95.0% 89.8% 88.4% 87.3%
57.9% 60.5% 62.4% 62.4%
56.0% 34.5% 29.1% 28.7% 28.7%
43.1% 40.0% 21.8% 16.2% 16.2%
3.9% 5.5% 5.6% 6.5% 6.5%
0.7% 0.6% 1.3% 1.1% 1.1%
2.9% 2.6% 2.3% 1.8% 1.8%
2.6% 3.4% 3.7% 3.7%
1.8% 3.5% 2.2% 2.2%
16.0% 16.0%

8.86 7.14 7.50 8.17

11% 14% 13% 12%
1.63% 1.72% 1.76% 1.59%
14.40% 12.24% 13.20% 12.97%

(Rupees in thousands)
FY-2017 FY-2018 FY-2019 FY-2020 FY-2021

3,703,448 3,733,045 3,851,555 3,861,763 3,861,763

75,755,942 90,736,517 118,899,262 137,549,099 157,296,592
348,207 175,336 85,315 29,969 35165.93
385,365,206 510,287,663 590,723,294 748,603,088 941192630
165,955,205 204,106,221 128,955,756 121,497,132 152754118.98363
25,536,724 27,898,086 33,338,243 48,579,696 61077562.4149923
656,664,732 836,936,868 875,853,425 1,060,120,747 ₹ 1,316,217,832

20,164,945 22,079,033 29,482,304 39,282,964 ₹ 48,772,687

6,180,601 14,812,575 30,316,596 23,340,613 ₹ 28,979,087
215,668,123 288,734,270 254,845,482 304,210,872 ₹ 377,700,159
390,792,322 484,689,828 530,276,325 661,607,126 ₹ 821,433,879
4,499,658 4,644,222 11,069,436 12,067,051 ₹ 14,982,131
19,359,083 21,976,940 19,863,282 19,612,121 ₹ 24,349,890
656,664,732 836,936,868 875,853,425 1,060,120,747 ₹ 1,316,217,832
384,758,617 402,039,903 438,879,439 636,721,604
15,766,592 19,134,811 30,155,988 44,199,924
₹ 1,316,217,832

20,908,024
1,930,003 2,396,241
236,344,395
256,097,085
3,551,574

18%
15%

191,865,830
191,865,829,567.53
1,834,382,158
105

9.18
0.00
 Pro Forma Income Statement

FY-2022 FY-2023 FY-2024 FY-2025

137619797 164363324 194877395 229284810

23517516 28087653 33302129 39181929
161137313 192450976 228179524 268466739

80073855 96376295 114950037 135846967

41209924 49218210 58355576 68658796
15495474 18506695 21942465 25816611
136,779,253 164,101,200 195,248,078 230,322,374

24,358,060 28,349,777 32,931,446 38,144,365

1160049.152782 1350154.066768 1568355.422985 1816619.964903

191980.7319367 223441.8820477 259552.8140505 300639.0114389
23006030 26776181 31103538 36027106

FY-2022 FY-2023 FY-2024 FY-2025

3,861,763 3,861,763 3,861,763 3,861,763

180,302,623 207,078,803 238,182,341 274,209,447
40186.01 46028.77 52815.78 60677.16
1173916837 1452446479 1782537055 2169820369
190524900.5622 235729833.9352 289303027.6503 352158515.0049
76179919.61934 94254765.37751 115675595.825 140807880.1626
₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

₹ 60,208,227 ₹ 73,866,449 ₹ 90,029,730 ₹ 108,976,267

₹ 35,773,699 ₹ 43,888,954 ₹ 53,492,630 ₹ 64,750,024
₹ 466,258,023 ₹ 572,028,545 ₹ 697,198,474 ₹ 843,922,195
₹ 1,014,032,236 ₹ 1,244,065,208 ₹ 1,516,288,605 ₹ 1,835,387,849
₹ 18,494,932 ₹ 22,690,503 ₹ 27,655,585 ₹ 33,475,635
₹ 30,059,112 ₹ 36,878,015 ₹ 44,947,575 ₹ 54,406,682
₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

RATIOS : PRO FORMA

4.8% 4.8% 4.8% 4.8%
16.5% 16.5% 16.5% 16.5%
 10.27% 9.97% 9.67% 9.37%
6.5% 6.3% 6.1% 5.9%
3.8% 3.7% 3.6% 3.5%
961371601.6828 1591724153.998 1948464722.194 2369408190.234
6.0% 4.3% 4.1% 3.9%
26% 26% 26% 26%
9.6% 9.6% 9.6% 9.6%
17.1% 17.1% 17.1% 17.1%
25% 24% 23% 22%

23.4% 22.7% 21.9% 21.0%

86.4% 85.7% 85.1% 84.6%
62.4% 62.4% 62.4% 62.4%
28.7% 28.7% 28.7% 28.7%
16.2% 16.2% 16.2% 16.2%
6.5% 6.5% 6.5% 6.5%
1.1% 1.1% 1.1% 1.1%
1.8% 1.8% 1.8% 1.8%
3.7% 3.7% 3.7% 3.7%
2.2% 2.2% 2.2% 2.2%
16.0% 16.0% 16.0% 16.0%

8.82 9.45 10.04 10.58

11% 11% 10% 9%
1.50% 1.42% 1.36%
13.23% 13.44% 13.61%

FY-2022 FY-2023 FY-2024 FY-2025

3,861,763 3,861,763 3,861,763 3,861,763

180,302,623 207,078,803 238,182,341 274,209,447
40186.01 46028.77 52815.78 60677.16
1173916837 1452446479 1782537055 2169820369
190524900.5622 235729833.9352 289303027.6503 352158515.0049
76179919.61934 94254765.37751 115675595.825 140807880.1626
₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

₹ 60,208,227 ₹ 73,866,449 ₹ 90,029,730 ₹ 108,976,267

₹ 35,773,699 ₹ 43,888,954 ₹ 53,492,630 ₹ 64,750,024
₹ 466,258,023 ₹ 572,028,545 ₹ 697,198,474 ₹ 843,922,195
₹ 1,014,032,236 ₹ 1,244,065,208 ₹ 1,516,288,605 ₹ 1,835,387,849
₹ 18,494,932 ₹ 22,690,503 ₹ 27,655,585 ₹ 33,475,635
₹ 30,059,112 ₹ 36,878,015 ₹ 44,947,575 ₹ 54,406,682
 ₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

₹ 1,624,826,229 ₹ 1,993,417,674 ₹ 2,429,612,598 ₹ 2,940,918,652

24,358,060 28,349,777 32,931,446 38,144,365

2,958,078 3,629,117 4,423,232 5,354,090
285,597,346 341,809,421 405,084,600 475,271,086
308,608,397 368,591,445 436,194,925 511,306,054
4,305,087 5,196,870 6,244,353 7,463,488
21% 21% 20% 20%

286,100,355.47
4,305,087 4,404,127 4,484,597 4,542,508.93
174,129,509
('000)