ACKNOWLEDGEMENT

My expression of gratitude and heart felt thanks goes to:

The principal of Maharaja College for Women, Perundurai

Dr. Mrs. INDRALEKHA for having given me opportunity to undergo this project.

Mr.P.PARAMANANDAM, MBA., MA(Psy)., MA (Soc)., MA(Eng), M.Sc.,

M.ED., BLIS, PGDHRM, PGDMM, for having providing me the necessary facilities to

do the project.

Mr. S. M.UVANESWARAN, MBA, M.Phil., Guide for his cooperation and

unparallel encouragement shown towards compilation of this project work.

Mr.UMABATHY, Secretary of SHEVAPET Urban Cooperative Bank Ltd., for

having permitted me to undertake the project in the bank.

Mr. MANIKKAM, Asst. Secretary of Shevapet Urban Cooperative Bank Ltd., ,

guiding me and giving me the necessary information.

Mr. NATARAJAN and other staff members of bank who helped me in doing this

project.

My parents and friends who have been my greatest source of inspiration of every
stage of my project.

All the blessings of the Almighty added meaning and gave life to my project.

CONTENTS
Chapte Title Page No.

1 INTRODUCTION

About Cooperative Bank Overview

Research Problem

Objectives of the Study

Research Methodology

Limitations of the Study

2 PROFILE OF THE BANK

About Shevapet Cooperative Bank

Objectives of the Bank

Classifications of Deposits

Types of Loans

3 ANALYSIS AND INTERPRETATIONS

Ratio Analysis

Trend Forecasting

4 SUMMARY OF FINDINGS AND SUGGESTIONS

5 CONCLUSION

APPENDIX

BIBLIOGRAPHY
 LIST OF TABLES

Table
Title Page No.
No.

1 Current Ratio

2 Liquid Ratio

3 Absolute Liquid Ratio

4 Long Term Debt to Net working capital

5 Fixed Assets to Net Worth

6 Current Liability to Proprietors Funds

7 Debtors to Current Assets

8 Total investment to long term liability

9 Total loan to net worth

10 Cash to current asset

11 Cash on Hand

12 Balance with Other Banks

13 Investments

14 Loans and Advances

15 Fixed Assets

16 Bills for Collection

17 Share Capital

18 Reserves and Surplus

19 Deposits & Borrowings

20 Bills for Collection

21 Interest and Discounts

22 Commission, brokerage and Exchange

23 Interest on deposits and borrowings

24 Salaries, allowances and provident fund

25 Rent, tax, lighting etc

26 Audit fees

27 Profit
 LIST OF CHARTS

Charts
Title Page No.
No.

1 Current Ratio

2 Liquid Ratio

3 Absolute Liquid Ratio

4 Long Term Debt to Net working capital

5 Fixed Assets to Net Worth

6 Current Liability to Proprietors Funds

7 Debtors to Current Assets

8 Total investment to long term liability

9 Total loan to net worth

10 Cash to current asset

11 Cash on Hand

12 Balance with Other Banks

13 Investments

14 Share Capital

15 Reserves and Surplus

16 Deposits & Borrowings

17 Interest and Discounts

18 Interest on deposits and borrowings

19 Profit
 CO-OPERATIVE BANK OVERVIEW

Indian Financial System

The Indian financial system is broadly classified into organized sector and

unorganised sector. The organized sector consists of the commercial banks, cooperative

banks, regional rural banks and development banks, which come under the effective

purview of the RBI and Government. The unorganized sector is largely beyond

regulatory and governmental authorities. The organized section is fully regulated and

controlled by the RBI.

Banking Intermediaries

The organized section may be grouped as banking intermediaries and financial

intermediaries. Banking intermediaries are,

1. Commercial Banks

2. Cooperative banks

3. Cooperative savings banks

1. Commercial banks

Most of the commercial banks in India were started on the British pattern in the

beginning of the 19th century. The commercial banks were incorporated under the Indian

Companies Act, 1936. The peculiarity of the Indian commercial banking is that the banks

were started funded and managed by industrialists.

Chart showing Indian Financial System

Banking Institutions

Banking Institutions Regional Rural banks Cooperative banks

Public sector Private sector

banks banks

Indian Foreign

State Bank Nationalised

Group banks

Financial
Services
subsidiaries

State Bank Subsidiary

of India bank

SBI Capital
Market Ltd
 Primary objective of any commercial bank is to earn profit. A commercial bank

receives money from the depositors and lends it to trade, industry and commerce. The

difference between the lending rate and the borrowing rate is profit. The RBI directors

govern the interest rates. The banks also carry on the business of banking as per the

regulations prescribed by the RBI.

Chart showing Indian Commercial Banks

Commercial Bank in India

Scheduled banks Non-scheduled banks

Indian Banks Foreign Banks

Private Sector Banks Public sector banks

Associated Nationalised
SBI RRB
SCI Banks
Cooperative Banks

India is an agriculture country. About 70% of our country’s population depends

upon agriculture for their livelihood. The Indian farmer is poor, illiterate and heavily

indebted non availability of adequate and timely agricultural credit results in low

productivity and make agriculture more capital intensive. The objective of such

organisation is to facilitate rural credit and to promote thrift and self help among the

economically weaker sections in the country.

Like commercial banks, the cooperative banks also receive deposits and lends

money. But they lend money to their members and make incidental profits although their

objective is not profiting earning.

Cooperative banks in India can be divided into two sectors. Agricultural and non-

agricultural sectors. The agriculture cooperative banks are primary cooperative banks at

the village level, central co-operative banks at the district level and the state cooperative

banks are at the state level.

The non-agricultural cooperative banks include urban cooperative banks and

housing cooperative bank. A special feature of agricultural cooperative bank is its three

tier structure.
Village / primary Co-operative Banks

The primary cooperative banks credit societies are functioning at the village level.

The village cooperative society attracts deposits from among the well to do members and

non-members of the village and to promote thrift and self help. They are making

advances to weaker sections, particularly the small and marginal farmers.

The Central Co-operative Banks

These banks are managed by a Board of Directors consisting of 12 -15 members

elected by the member of societies. They have been functioning as an intermediary

between the primary cooperative societies and the state cooperative banks. Their main

objective is to raise finance through deposits from the public and lend it to the primary

credit societies at the village level.

State Co-operative Banks

Every state has a state cooperative bank. In links the cooperative movement of the

state with the money market and RBI on one hand and the central cooperative banks and

the credit societies on the other. It also serves as a clearinghouse for the cheques of

cooperative banks.
Urban Co-operative Banks

It resembles the commercial banks. This kind of bank is set up in the urban

centres. The bank receives deposits from its members and the public and lends its

members. An urban co-operative bank is restricted to lend money to its customer residing

in the municipal or co-operative limits, depending on its bylaws.

These may be more than one commercial banks in a particular municipal area. But

some urban co-operative banks, depending on their byelaws admit firms and local

authorities as its members. These banks accepting time and demand deposits.
 RESEARCH PROBLEM

Co-operative banking is India can be divided into two important areas. They are,

i. Agricultural co-operative banks and

ii. Non Agricultural co-operative banks

Urban co-operative banks comes under the on non-agricultural banks, Shevapet

urban co-operative bank limited No. S.392 Salem is also one among the non-agricultural

co-operative banks. It provides loans and receive deposits both members and non-

members of the bank. The bank facing financial crunch in their transactions. Hence the

researcher has selected this bank to study the financial performance of the bank and give

suggestions to improve the bank.

 OBJECTIVES OF THE STUDY

1. To examine the liquidity position of the co-operative bank.

2. To study the ability of the bank to meet its current obligations

3. To study about the banking and its administration

4. To study about the banks future financial position through forecasting

technique

5. To provide suggestions and recommendations to improve the bank’s

performance.
 RESEARCH METHODOLOGY

A study of financial performance at bank has conducted to find out the financial

soundness of the bank. This project study of financial performance is covered for a period

of 5 years from 1995 – 96 to 1999-2000.

Primary data was collected through the interviews with the managers and staffs

and the secondary data from annual accounts, past records and various books, etc.

The main aim of the study is to know the financial soundness of the bank. The

tools used in this analysis are ratio analysis and trend analysis.
 LIMITATIONS OF THE STUDY

1. This study is based on the secondary sources and published

data for a period of 5 years.

2. Due to time constraints only past 5 years was considered

for this analysis

3. The drawn conclusion may not applicable to other co-

operative banks.

4. Time value of money not being used.

5. Forecasted values may not be suitable in future.

 PROFILE OF THE BANK

The Shevapet Urban co-operative bank Ltd., No.S.392 is registered as a

cooperative society under Act VI of 1932, Madras. Its operation shall be confined to

Salem Municipal limits and upto the area of all village lying within the radius of 15

kilometres. For any revision in this regard prior approval from the RBI is necessary.

Membership

Loan on the security of immovable property may be granted to `A’ class members

residing in the above area of operation of the bank. Loan on the security of jewels may be

advanced to `B’ class members residing in Salem District. The liability of the members of

the society shall be limited to the share capital subscribed by them. The state government

may be admitted as `A’ class member. The redeemable in accordance with the terms and

conditions stipulated by the government and the registrar.

Capital

The capital of the bank at present be 50,50,000/- made up of 5,00,000/- `A’ class

shares of Rs.10 each and 50000/- `B’ class shares of Rs.1 each. The value of each A&B

class shares shall be paid in one lump sum on allotment. However SC, ST and Weaker

sections may be pay the `A’ class share in 2 instalments.

Management
 The executive management of the affairs of the society shall vest in the Board of

Directors. The BOD shall consist of not more than nine members. The board of directors

shall meet once a month. Member of BOD absent himself from the four consecutive

ordinary meeting of the boards, he shall cease to be a member of BOD but may be

instated by the BOD’s.

The secretary shall be responsible for the executive administration of the society,

subject to the control of the president. The cashier, the accountant and the secretary all

the three will be jointly responsible for the cash and jewels and other valuables of the

bank. The appraiser shall be responsible for the jewels, which he handed over the

secretary or cashier or accountant in sealed pockets.

The secretary shall have power to admit `B’ class member and allow withdraw of

their share capital and subject to rectification by the BOD at their next meeting.
General Body

They deal with following matters.

1. The election and removal of BOD

2. The annual reports due to the registrar of co-operative societies.

3. The expulsion of a member.

4. The consideration of any complaint which any individual member may prefer
against the BOD

5. The returns that may be prescribed by the local government.

Objectives of the Bank

1. To borrow funds from members or others to be utilized for loans to

members for useful purposes.

2. To act as an agent for the joint purchase of the domestic and other
requirements of its members.

3. Generally to encourage thrift, self help and cooperative among members.

4. To carry on such other banking business as may be to the healthy growth

of the co-operative movement.

5. To act as an agent of life insurance corporation for the transmission of

money to policy makers.
Reserve Fund

The reserve funds shall belong to the society as a whole and its intended to meet

unforeseen losses. No members can claim a share in it. It shall be invested in such a

manner as the registrar of co-operative societies prescribed and shall not be drawn upon

except with his sanction.

The society shall prepare annually in such form as may be prescribed by the

registrar.

• A statement showing the receipts and payments for the year

• Profit and Loss account

• Balance Sheet

• Other statements as may be prescribed by the registrar

 SUBSIDIARY REGULATION FRAMED TO SERVICE CONDITION OF

THE EMPLOYEES OF THE BANK

1. This facility of advance will be for the confirmed employees of the bank

who desire to purchase scooter or motorcycle or any two-wheel power driven

vehicle or by-cycle.

2. The loans will be made for the purchase of new brand machines.

3. The maximum amount of advance should not exceed Rs.6000/- incase of

scooter, motorcycle, or Rs.600 in case of by-cycle.

4. The loan is repayable in 40 monthly installments in the case of by-cycle or

in 60 monthly installments in the case of scooter or motorcycle.

5. The interest shall be changed at 9% per annum on the loan outstanding the

shall be recovered along with monthly installments.

6. No employee can be sanctioned a loan for more than one vehicle at a time.

7. The vehicle shall not be transferred or sold or disposed off till the loan due

to bank is cleaned.

8. Bank sanction housing loan to the permanent employees of the bank is

accordance with the subsidiary regulation framed by board and approved by the

deputy registrar.
Benefits to Workers

The workers who are working in a bank, the bank provided various facilities with

low interest rate compared to consumers.

1. Housing loan - 9%

2. Consumer loan - 12%

3. Vehicle loan - 13.5%

4. Personal loan - 15%

The consumer can to get these loans with 17% interest rate

Recent Position

On 25.5.2001 onwards the bank is running by special officer. In those days board

ran bank. The bank is aiming to open various branches. But now-a-days banks non-

performing assets are increasing. If NPA is increases above 15% the government do not

allow to open further branches.

Classification of Deposits

The bank is providing various deposits to consumers

1. Fixed deposit

2. Recurring deposit

3. Current deposit

4. Savings deposit

5. Home safe deposit

6. Day deposit

7. Cash certificate

Fixed deposit

• A fixed deposit is the deposit of a fixed amount of money or a fixed period of

time. No deposit shall be received for a sum less than Rs.10 for a period

less than 15 days.

• Interest on fixed deposits shall be payable at such scale and manner as the

BOD may fix from time to time that the maximum shall not exceed 12%

per annum subject to the directive issued from time to time by the RBI

under the banking regulation act 1949.

 • Interest on fixed deposit shall be paid quarterly or at such shorter intervals as

may have agreed upon at the time of deposits.

Recurring Deposits

A recurring deposit is a deposit made by a person who undertake to pay to the

bank every month a fixed amount of one rupee or multiple thereof for a period of 12 to

240 months.

Current Deposit

The BOD may permit any individual member or non-member or any institution

other than the co-operative society, local board, municipality, civil court to open a current

account with the bank. Interest shall be calculated on current account as per the rate fixed

by RBI and shall be payable at such scale and manner as the BOD may fix from time to

time on the daily balances.

Saving deposit

The secretary may permit any person to open a savings deposit account with the

bank. The interest shall be calculated on the savings deposit at not more than 6.5% per

annum to be fixed by the BOD from time to time on the minimum balance to credit of the

account during the period from the 10th to the last day of each month. Such interest shall

be adjusted to the respective accounts half yearly. Every savings depositor will be

supplied with a passbook at free of cost.

Home safe Deposit

 A home safe deposit is a deposit made by a person who undertakes the deposit at

his convenience in a home safe any amount that he can take and pay the contents, every

month for a period of 12 months. Interest @3.5% per annum the total amount together

with the interest occurred will be payable to the depositor in the 13th month.

Day Deposit

A day deposit is made by a person who undertakes to pay to the bank by daily a

fixed sum of Rs.1/- or multiple share for the period of 3 months to 61 months.

The deposit will carry interest at the rate fixed by RBI and such scale and manner

prescribed by the BOD from time to time on the balances as on the first day of every

month. The deposit amount will be repayable with interest.

Cash certificate Deposits

Investment in cash certificate scheme is a contract whereby a depositor agrees to

receive back the principal amount together with interest (compounded quarterly) occurred

after a certain period agreed to at the time of deposit. Interest earned there on under this

scheme is reinvested at quarterly rests to yield compound interest.

Cash certificate are available for a minimum amount of Rs.1000. Minimum

period of deposit is 12 months.

Types of Loan
 The bank is providing various loans to consumers in the form of medium term,

short term and long term loans.

Short-term Loans

1. Jewel Loan

The Shevapet Urban Co-operative bank issue jewel loans to members and

associate members only. Jewel loans rate of interest is 18% and repayment period is one

year a borrower is not repay for the loan within one year period, and above period

additional 2% interest to be calculated.

Each jewel the bank has taken to be the insurance. The bank has following jewel

verification. The bank has following jewel verification method.

1. Touch stone method

2. Acid test method

Micro credit Loans

The bank issue micro credit loans to ladies and associated members only. The rate

of interest on this loan is very low and so giving helping hand to lady merchants only. For

example, vegetables, fruit stall, petty traders, coconut shop, etc. This loan is helpful to

ladies to improve their life and develop the small business. Loans issue amount ranges

from a minimum of Rs.500 to a maximum of Rs.5000.

Consumer Loans

It is otherwise called consumption loans. Consumption loans include loans for

general consumption, medical expenses, marriage ceremonies, funerals, births, religious

ceremonies, etc. Maximum amount that can be borrowed is Rs.3000, which can be paid

by installments within 60 months. The rate of interest is 17%.

Medium term Loans

1. Mortgage Loan

Mortgage is a contract of conveyance of interest in a particular property to form

as a security. The borrower rendering any property on mortgage is called mortgager and

lenders (banks) to whom the interest in such property is transmitted is known as

mortgages. The terms of the transfer of interest in a property from the mortgage to the

mortgages are specified in a document called mortgages deed.

Mortgage loan issued to `A’ class members only. Minimum of Rs.5000 and

maximum of Rs.25000 is offered at the interest rate of 20%. House and vacant size is a

valuable asset offered as a security by way of mortgage.

2. Cottage Industries

Cottage industries are those units engaged in manufacturing, processing

preservation of servicing activities involving, utilization of locally available natural

resources and for human skill and normally under by the beneficiaries in their homes.

The maximum amount of cash credit limit for any individual borrower shall not exceed

Rs.25, 000.
 It shall however be competent to the BOD to sanction a higher limit wherever

justified with the prior approval of the registrar.

Long-term Loans

1. Small scale Industries Loan

Small scale industries units are those engaged in the manufacturer, processing or

preservation of goods and whose investment in plant and machinery original cost does

not exceed Rs.5/- each. Agents selling goods on commission basis, booking, clearing and

forwarding agents, estate agents, press cum publishing houses , hair dressing, saloons,

restaurants, hotels, canteens, etc.

The maximum amount of cash credit limit for any individual borrower shall not

exceed Rs.1,00,000 in respect of small scale industries. The BOD can sanction a higher

limit after getting the prior approval of the registrar.

2. Housing Loans

Loans granted for construction, additions, alterations, repairs etc would be

categorized as housing loans. Bank sanction housing loan to the permanent employees of

the bank in accordance with the subsidiary regulation framed by board and approval by

the deputy registrar. Minimum rate of interest 9% for employees and 17% for customers.
 B AN K S T R U C T U R E

G eneral body

P resident

Board of D irector

M anaging D irector

S ecretary A ssistant secretary

M anager S enior Assistant m anager

R ecord keeper A ppraiser (Jew els)

 RATIO ANALYSIS

Meaning of Ratio

According to accountant’s hand book by wixon, kell and bed fold a ”ratio is an

expansion of the quantitative relationship between two numbers”.

Guidelines for use of Ratios

Following guidelines or factors may be kept in mind while interpreting various

ratios.

1. Accuracy of Financial Statements

The reliability of ratios is linked to the accuracy of information in these

statements, before calculating then ratios one should see whether proper concepts and

conceptions have been used for preparing financial statements or not.

2. Objective purpose of Analysis

If the purpose is to study current financial position and important for the analysis

of ratio. Different objects may require the study of different ratios.

3. Selection of Ratios

Another precaution in the ratio analysis is the proper selection of appropriate

ratios. The ratios should match the purpose for which these are required.

4. Use of Standards

Ratios are compared with certain standards one will not be able to reach at

conclusions. These standards may be rule of thumb as in case of current ratio (2:1) and

acid test ratio (1:1) may be industry standards.

5. Ratio provide only a Base

The ratios are only guidelines for the analyst, he should not base his decisions

entirely on them.

Uses and Significance of ratio Analysis

The ratio analysis is one of the most powerful tools of financial analysis. It is used

as a device to analyse and interpret the financial health of enterprise. A financial analyst

analyses the financial statement with various tools of analysis before commenting upon

the financial health or weakness of an enterprise. The supplier of goods on credit, banks,

financial institutions investors, share holders and management all make use of ratio

analysis as a tool in evaluating the financial position and performance of a firm for

granting credit, providing loans for making investments in the firm.

Limitations of Ratio Analysis

Ratio analysis suffers from certain limitations. They are discussed below

1. Inadequacy of Standards

Ratios are useful only if they are compared with some standards. But adequate

standards like industry averages are not easily available.

2. Limitations of financial Statements

Ratios are based only on the information recorded in the financial statements.

Financial statements suffer from a number of limitations. Hence, the ratios derived from

them are also subject to those limitations.

3. Difficulty in Comparison

In actual practice, it is difficult to have similar companies for comparison. Even

similar companies are available, their accounting periods may differ. This makes inter

firm companies extremely difficult.

4. No fixed Standards

No fixed standards can be laid down for ideal current ratio is said to be 2:1. How

ever in case of firms, which have adequate credit arrangement with their bankers, it may

be perfectly ideal to have a ratio of 1:1.

 ANALYSIS AND INTERPRETATION

Liquidity Ratios

Liquidity ratios measure the firms ability to meet current obligations. Liquidity

refers to the ability of a concern to meet its current obligation as and when these become

due. The short-term obligations are meet by releasing amounts from current, floating or

circulating assets. Interpretation of liquidity ratios provides considerable insight into the

present cash solvency of the firm and its ability to remain solvent in time of advertisities.

The various liquidity ratios used in the study are

1. Current Ratio

2. Liquid Ratio

3. Absolute Liquid Ratio

1. Current Ratio

Current ratio may be defined as the relationship between current assets and

current liabilities. It is a measure of general liquidity and is most widely used to make the

analysis of short-term financial position or liquidity of a firm.

It is calculated as
Current Assets
Current Ratio = ----------------------------
Current Liabilities
2. Liquid Ratio

Liquid ratio is also known as acid test or quick ratio is a mere vigorous test of

liquidity than the current ratio. The term liquidity refers to the ability of a firm to pay its

short-term obligations as and when they become due-liquid ratio may be defined as the

relationship between liquid assets and current liabilities. Particularly quick or liquid

assets include all current asset except stock and prepaid expenses.

Quick asset
Liquid ratio = ----------------------------
Current Liabilities

3. Absolute Liquid Ratio

Absolute liquid assets include cash in hand and at bank and marketable securities.

Although debtors and bills receivable are generally more liquid than inventories, there

may be doubts regarding their realization into cash immediately or in time. The standard

norm is 0.5:1

Absolute Liquid Asset

Absolute Liquid Ratio = --------------------------------------
Current Liabilities
4. Long Term Debt to networking capital ratio

It is the relationship between the long-term liabilities to net working capital long

term debt includes debentures and loans. Net working capital in the excess of current

assets over current liabilities.

Long term debt

Long term debt to Networking capital Ratio = --------------------------------
Net Working Capital

5. Fixed Assets to net worth Ratio

The ratio establishes the relationship between fixed assets and shareholders funds.

This ratio indicates the extend to which share holders funds are sunk into the fixed assets.

If the ratio is less than 100%, it implies that owner funds are more than total fixed assets

and a part of the working capital is provided by the share holders. When the ratio is more

than 100% it implies that owners funds are not sufficient to finance the fixed assets and

the bank has to depend upon outsiders to finance the fixed assets.

Fixed Asset
Fixed Asset Ratio = ----------------------------------
Share holders Funds
6. Current Liabilities to proprietors fund

The ratio of current liability to proprietors funds establishes the relationship

between current liabilities to the proprietors funds and indicates the amount of long term

funds raise by the shareholders as against the short-term borrowings.

Current liabilities
Current Liability to proprietors = -------------------------------
Share holders Fund

7. Debtors to current asset ratio

The main objective of management is to maximize the value of the firm. For

successful management of receivables, it is necessary that the management should ensure

a satisfactory collection period. Bad debt losses should be kept minimum.

Debtors
Debtors to current asset ratio = ---------------------------------- X 100
Current Asset
8. Total Investment to long-term Liability Ratio

This ratio is calculated by dividing the total of long-term funds by the long-term

liabilities. As a general rule the proportion of long-term liabilities should not be very

high.

Share holders fund + long term

liabilities
Total Investment to long term liability ratio = ------------------------------------------
Long Term Liabilities

9. Total loans to net worth Ratio

It is inverse of more familiar debt equity ratio. It is found by dividing loans by net

worth. Non-bankrupt companies maintain more than twice as much equity as debt.

Total loans
Total loans to net worth = ----------------------------------------
Net worth

10.Cash to current asset ratio

In this ratio, cash and current assets are compared. It helps to know how

much amount of cash are available in total current assets.

Cash
Cash to current asset ratio = ----------------------------
Current asset
 RATIO ANALYSIS

TABLE - 1

CURRENT RATIO

Year Current Asset (Rs) Current Liability (Rs) Ratio

95 – 96 16,05,26,964 5,14,70,199 3.12 : 1

96 – 97 19,81,76,711 5,95,39,725 3.33 : 1

97 – 98 25,04,11,735 7,55,24,548 3.32 : 1

98 – 99 26,68,13,868 9,41,50,547 2.83 : 1

99 – 00 32,48,81,974 11,30,95,945 2.87 : 1

Source : Secondary data

Current Asset
Current Ratio = -----------------------------
Current Liabilities

Inference

The current ratio should be 2 : 1. So this is above the standard norm. If the

current ratio is higher, longer the amount of rupees available to meet current obligations

& safety of funds of short term creditors. The above table shows that in the year 98–99 &

99-00 the ratio was decreased. Because, main reason for this reduction is bad debts &

creditors values were increased. So the bank should take necessary step to recover the

bad debts and outstanding amounts.

TABLE - 2
 LIQUID RATIO

Year Liquid Asset (Rs) Current Liability (Rs) Ratio

95 – 96 16,04,18,275.90 5,14,70,199 3.11 : 1

96 – 97 19,80,88,940.00 5,95,39,725 3.32 : 1

97 – 98 25,02,93,997.00 7,55,24,548 3.31 : 1

98 – 99 26,65,20,977.00 9,41,50,527 2.82 : 1

99 – 00 32,46,20,375.00 11,30,95,945 2.86 : 1

Source : Secondary data

Liquid Asset
Liquid Ratio = ------------------------------------------------
Current Liability / Liquid Liability

Inference

The Standard norm of the liquid ratio is 1:1. it indicates the financial condition of

the bank. The above table shows that the liquid ratio is above the standard norm. So it is

satisfactory. During the year 98-99 the ratio is lower when compared to other years.
 TABLE - 3

ABSOLUTE LIQUID RATIO

Year Absolute Liquid Asset (Rs) Current Liability (Rs) Ratio

95 – 96 6,55,08,138 5,14,70,199 1.2

96 – 97 8,64,95,957 5,95,39,725 1.4

97 – 98 14,27,04,714 7,55,24,548 1.9

98 – 99 15,84,70,519 9,41,50,527 1.7

99 – 00 21,77,75,018 11,30,95,945 1.9

Source : Secondary data

Absolute Liquid Asset

Absolute liquid Ratio = ---------------------------------------
Current Liabilities

Inference

The standard Norm is .5 : 1. The average liquid ratio is 1.62 which is above the

standard norm of .5 : 1. So it is satisfactory. The ratio increased constantly year by year

and suddenly it met a fall in 98-99. Because current liability increases amount is higher

than absolute liquid asset amount increases.

 TABLE - 4

LONG-TERM DEBT TO NET WORKING CAPITAL

Year Long term debt (Rs) Net Working Capital (Rs) Ratio

95 – 96 19,07,79,487 10,90,56,765 1.74

96 – 97 24,19,23,726 13,86,36,986 1.74

97 – 98 32,17,32,984 17,48,87,187 1.84

98 – 99 40,76,47,212 17,26,63,341 2.36

99 – 00 45,29,54,508 21,17,86,029 2.14

Source : Secondary data

Long Term Debt

Liquid Ratio = ----------------------------------
Net Working Capital

Inference

From this we can infer that the long term debt value has increased continuously

from year by year. But in net working capital there is some fluctuations. So that the ratio

value is affected by such fluctuations. During the year 99 –00 the ratio has decreased to

2.14 from 2.36. From this we can conclude that the long term debt is more than the net

working capital.
 TABLE - 5

FIXED ASSET TO NET WORTH

Year Fixed Asset (Rs) Net Worth (Rs) Ratio

95 - 96 10,36,74,068 2,21,39,795 4.68

96 - 97 12,63,51,549 2,26,89,306 5.56

97 - 98 17,38,02,950 2,60,83,651 6.66

98 - 99 26,69,95,155 3,12,16,850 8.55

99 – 00 27,82,39,833 3,58,18,622 7.77

Source : Secondary data

Fixed Assets
Fixed Assets Ratio = -------------------------------
Share holders Funds
Inference

This ratio indicates the extend to which share holders funds are sunk into fixed

assets. If the ratio is less than 100%, it implies that owners funds are more than total

assets. When the ratio is more than 100%, it implies that the owners funds are not

sufficient to finance fixed asset and the bank has to depend upon the outsiders funds to

finance the fixed assets.

From the above table it shows that the bank has not sufficient share holders

compare to the fixed assets. Here there is a necessity for more outsiders funds to finance

the fixed assets because the bank is not having sufficient share holders funds.
 TABLE – 6

CURRENT LIABILITIES TO PROPRIETORS FUNDS

Year Current Liability (Rs) Proprietors Funds (Rs) Ratio

95 – 96 5,14,70,199 2,21,39,795 2.32

96 – 97 5,95,39,725 2,26,89,306 2.62

97 – 98 7,55,24,548 2,60,83,651 2.89

98 – 99 9,41,50,527 3,12,16,850 3.01

99 – 00 11,30,95,945 3,58,18,622 3.15

Source : Secondary data

Current liability
Current Liability to proprietors = -------------------------------
Proprietors Funds

Inference

From the above ratios, the total current liabilities to proprietors funds is varying

from 2.32 to 3.15. So in the year 1999-2000 current liabilities to proprietors’ funds is

increased to 3.15. This must be controlled to repay the proprietors funds to them
 TABLE - 7

DEBTORS TO CURRENT ASSETS

Year Debtors (Rs) Current Asset (Rs) Ratio %

95 - 96 2,41,765 16,05,26,964 .15%

96 - 97 3,63,513 19,81,76,711 .18%

97 - 98 10,77,694 25,04,11,735 .43%

98 - 99 11,49,750 26,68,13,868 .43%

99 – 00 6,48,293 32,48,81,974 .20%

Source : Secondary data

Debtors
Debtors to current Asset = ----------------------------- X 100
Current Asset

Inference

In the year 97 and 98 the ratio is increased from 0.18% to 0.43% because of

debtors values has increased. But during the year 99-00 the debtor’s value is decreased so

that ratio has decreased to 0.20%

 TABLE - 8

TOTAL INVESTMENT TO LONG-TERM LIABILITY

Year Total Investment(Rs) Long-Term Liability(Rs) Ratio

95 – 96 21,29,19,282 19,07,79,487 1.12

96 – 97 26,46,13,032 24,19,23,726 1.09

97 – 98 34,78,16,635 32,17,32,984 1.08

98 – 99 43,88,64,062 40,76,44,212 1.07

99 – 00 48,87,73,130 45,29,54,508 1.05

Source : Secondary data

Share Holders Funds + Long

Term Liability
Total investment to Long-Term liability = -----------------------------------------------
Long-Term Liability

Inference

The total investment to Long-term liability ratio of the bank for the year

95,96,97,98 and 99 is 1.12,1.09,1.08,1.07 and 1.08 respectively. There is no big change

in the ratios. But the ratio is decreasing constantly compared to previous years. It has

been considered not satisfactory by the bank.

 TABLE - 9

TOTAL LOAN TO NET WORTH

Year Total Loan(Rs) Net worth(Rs) Ratio

95 – 96 17,35,70,409 2,21,39,795 7.84

96 – 97 20,56,10,845 2,26,89,306 9.06

97 – 98 23,94,29,324 2,60,83,651 9.18

98 - 99 32,18,73,192 3,12,16,850 10.31

99 – 00 32,48,43,847 3,58,18,622 9.07

Source : Secondary data

Total Loans
Total Loan to Net worth = -----------------------------
Share holders Funds

Inference

From the above table it indicates that total loan to net worth ratio as constantly

increasing from 95-96 to 98-99 the ratios from 7.84 to 10.31. During the year 98-99 the

ratios is higher when compared to other years. Main reason for this is both total loan and

net worth value is higher compared to other years.

 TABLE -10

CASH TO CURRENT ASSET

Current Asset
Year Cash (Rs.) Ratio
(Rs)

95 - 96 1,22,20,943 16,05,26,964 .076

96 - 97 1,65,42,851 19,81,76,711 .083

97 - 98 1,55,41,717 25,04,11,735 .062

98 - 99 1,73,10,863 26,68,13,868 .065

99 – 00 2,01,30,062 32,48,81,974 .062

Source : Secondary data

Cash
Cash to current assets = -----------------------------
Current assets

Inference

Current assets constantly increased from 95-96 to 99-2000. but in cash there in lot

of fluctuations from 95-96 to 99 - 00 . During 96 –97 cash shows increasing trend. But

during 97-98 cash values has decreased. Again last 2 years cash values has increased.

From this we can conclude that, average cash position is 3.8%only in total current asset.

So bank should increase the cash value.

TREND FORECASTING
 An arrangement of statistical data in accordance with time of occurrence or in a

chronological order is called a time series or trend forecasting. From the comparison of

past data with current data we may seek to establish what development may be expected

in future. The analysis of time series is done mainly for the purpose of forecasts and for

evaluating the post performance.

It can be calculated as,

Y = a + bx,

Where as,

∑y ∑xy
a = ---------- b = ----------
N ∑x2

Where Y0 is used to designate the trend values to distinguish them from the actual

Y values,

a is the Y intercept or the computed trend figure of the Y variable when x=0.

b represents the slope of the trend line or the amount of change in the Y variable

that is as associated with a change of one unit in X variable.

 TREND ANALYSIS

TABLE -11

CASH ON HAND

Year Actual (Rs. In crores) Projected (Rs. in Crores)

1996 1.22 1.26
1997 1.65 1.43
1998 1.55 1.64
1999 1.73 1.88
2000 2.01 1.92
2001 2.11
2002 2.32
2003 2.51
2004 2.62
2005 2.80

Source : Secondary data

Inference

The above table shows that the actual figures of cash on hand and forecasted

figures are closed to each other during the year 96. During 1997 and 2000 the actual

values of cash on hand is high when compared with forecasted figures. This will help the

bank to know the cash position in future.

 TABLE - 12

BALANCE WITH OTHER BANKS

Year Actual (Rs. in crores ) Projected (Rs. in crores)

1996 5.19 4.53
1997 6.93 8.10
1998 12.63 11.67
1999 14.10 15.24
2000 19.46 18.81
2001 22.38
2002 25.95
2003 29.52
2004 33.09
2005 36.66

Source : Secondary data

Inference

The above table shows that the actual values of balance with other banks are

steadily increased during this 5 years. So that the forecasted figures also increased

constantly. During 1997 and 1999 the actual value of balance with other banks is

minimum when compared to forecasted figures. The predicted values shows that the bank

has an opportunity to have more balance with other banks in future.

TABLE –13

INVESTMENTS

Year Actual( Rs. in crores) Projected (Rs. in crores)

 1996 .78 0.6
1997 .85 1.0
1998 1.23 1.4
1999 1.51 1.8
2000 2.40 2.2
2001 2.6
2002 3
2003 3.4
2004 3.8
2005 4.2

Source : Secondary data

Inference

During the year 1996 and 2000 the actual value of investment is high compared to

projected figures. During the year 97,98and 99 the actual value is less than projected

figures. The Banks investment value has been increased in future. So bank can find

various sources to invest their surplus funds to earn profit.

 TABLE – 14

LOANS AND ADVANCES

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 17.35 16.9
1997 20.56 21.1
1998 23.94 25.3
1999 32.18 29.5
2000 32.48 33.7
2001 37.9
2002 42.1
2003 46.3
2004 50.5
2005 54.7

Source : Secondary data

Inference

During the year 1996 and 1999 the actual values of loans & advances is high

when compared to projected figures. During 97,98 & 2000 the actual value is lower than

projected values. The bank has an opportunity to give more loans and advances in future.
 TABLE -15

FIXED ASSETS

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 .215 .176
1997 .129 .158
1998 .128 .14
1999 .128 .122
2000 .128 .104
2001 .086
2002 .068
2003 .050
2004 .032
2005 .014

Source : Secondary data

Inference

The actual value of fixed assets has decreased from 96 to 97 amount of Rs. 0.215

crore to 0.129 crore. From 98 onwards actual value of fixed asset is maintained at

constant level. So these changes will affect the projected figures. In future, fixed assets

values has constantly decreased. So that bank should have to take necessary step to invest

high amount in the fixed assets.

 TABLE -16

BILLS FOR COLLECTION

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 .024 .023
1997 .020 .029
1998 .022 .035
1999 .074 .041
2000 .037 .047
2001 .053
2002 .059
2003 .065
2004 .071
2005 .077

Source : Secondary data

Inference

The above table shows that the actual value of bills for collection is in fluctuating

manner. So it will be difficult to forecast the future values. That is during the year 1999

the actual value is higher than the forecasted values but in the year 97,98 and 2000 the

actual values is lesser than the projected figures. In future the bank can expect more

amount in bills for collection.

 TABLE - 17

LIABILITIES

SHARE CAPITAL

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 1.04 .96
1997 1.05 1.13
1998 1.15 1.32
1999 1.49 1.47
2000 1.69 1.64
2001 1.81
2002 1.98
2003 2.15
2004 2.32
2005 2.49

Source : Secondary data

Inference

The above table shows that the projected share capital amount has increased to

2.49 crore because the actual value of share capital has constantly increased. So projected

figures are also steadily increased. We can conclude that the bank has a better chance to

invest more amount in share capital in the following years.

TABLE - 18

RESERVES AND SURPLUS

Year Actual (Rs. in crores) Projected (Rs in crores)

 1996 1.34 1.25
1997 1.74 1.63
1998 1.98 2.01
1999 2.46 2.39
2000 2.87 2.77
2001 3.15
2002 3.53
2003 3.91
2004 4.29
2005 4.67

Source : Secondary data

Inference

The above table shows that the actual value of reserves and surplus has steadily

increased. The bank can expect projected figures of the reserves and surplus are also

increase in the future. This indicates that the bank is in a necessary position to take

appropriate step to reduce reserves and surplus.

 TABLE -19

DEPOSITS AND BORROWINGS

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 22.16 21.2
1997 27.30 28.9
1998 36.18 36.6
1999 45.75 44.3
2000 51.60 52.0
2001 59.7
2002 67.4
2003 75.1
2004 82.8
2005 90.5

Source : Secondary data

Inference

Even though the actual value of deposits and borrowings were increasing year

after year, the percentage increases has a great difference between them. But there is no

much difference between actual and projected values of deposits and borrowings. From

the forecasting technique the bank can expect more amount in deposits and borrowings

in the following years.

 TABLE - 20

BILLS FOR COLLECTION

Year Actual (Rs. in crores) Projected (Rs in crores)

1996 2.42 2.0
1997 2.04 2.8
1998 2.27 3.6
1999 7.44 4.4
2000 3.76 5.2
2001 6.0
2002 6.8
2003 7.6
2004 8.4
2005 9.2

Source : Secondary data

Inference

The actual figures of bills of collection has very much fluctuation i.e during 1996

the value of bills of collection has decreased in the year 1997 and then during 1999 this

value has increased. During 2000 the value of bills of collection has decreased. Such

fluctuation will affect the projected figures..The bank must concentrate to reduce the

amount in bills for collection in future.

 TREND FORECASTING FOR INCOME AND EXPENDITURE

INCOME

TABLE - 21

INTEREST AND DISCOUNTS

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 384.37 363.4
1997 519.26 536
1998 684.12 708.6
1999 896.47 881.2
2000 1058.82 1053.8
2001 1226.4
2002 1399
2003 1577.6
2004 1744.2
2005 1916.8

Source : Secondary data

Inference

During the year 1997 and 1998 the actual figures of interest and discount has

decreased, when compared to projected figures. In case of 2000 the actual value of

interest and discount and projected values seems to be related to each other. The

forecasted figures had increased constantly. We can conclude that the bank has an

opportunity to increase their income by interest and discount.

 TABLE - 22

COMMISSION, BROKERAGE AND EXCHANGE

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 .57 .45
1997 .46 .57
1998 .62 .69
1999 .82 .81
2000 .96 .93
2001 1.05
2002 1.17
2003 1.29
2004 1.41
2005 1.53

Source : Secondary data

Inference

The above table shows that during 1997 the actual value of commission,

brokerage and exchange is low when compared to other years. But in the case of 1999

and 2000 the values of actual and projected are seems to be related to each other. This

forecasting technique shows that the bank has a chance to get more amount in

commission, brokerage and exchange in future.

EXPENDITURE

TABLE – 23

INTEREST ON DEPOSITS AND BORROWINGS

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 236.04 227.49
1997 327.06 344.22
1998 456.52 460.95
1999 603.82 577.68
2000 681.32 694.41
2001 811.14
2002 927.87
2003 1044.60
2004 1161.30
2005 1278.06

Source : Secondary data

Inference

The above table shows that the actual value of interest on deposits and borrowings
and projected values seems to be related each other in the year 1998 when compared to
other years. During the year 1997, 1998 and 2000 the interest and deposit and borrowings
is minimum when compared to forecasted figures. But in the year 1996and 1999 the
actual value of deposit and borrowings is maximum when compared to forecasted
figures. With the help of above table the bank authorities can plan the future year
requirements.

TABLE - 24

SALARIES, ALLOWANCES AND PROVIDENT FUND

 Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)
1996 33.45 22.9
1997 38.65 39.5
1998 42.97 56.1
1999 59.91 72.7
2000 105.82 89.3
2001 105.9
2002 122.5
2003 139.1
2004 155.7
2005 172.3

Source : Secondary data

Inference

The above table shows that the actual values of salaries, allowances and provident

fund and the model generated figures seems to be related to each other in the year 1997.

During the year 1998 and 1999 the actual expenses of salaries, allowances and provident

fund is minimum but in the year 1996 and 2000 the expenses is high when compared to

projected figures.
 TABLE – 25

RENT, TAX, LIGHTING ETC

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 5.91 4.09
1997 4.22 5.87
1998 6.52 7.65
1999 9.41 9.43
2000 12.19 11.21
2001 12.99
2002 14.77
2003 16.55
2004 18.33
2005 20.11

Source : Secondary data

Inference

The actual figure of rent, taxes, insurances and lighting has got more fluctuations

during the first 3 years. ie. During 1996 the actual rent, taxes lighting is 5.91lakhs

reduced to 4.22 lakhs in 1997. But suddenly it raised to 6.52 lakhs. During 1999 actual

and projected values are closed to each other. So if there is any fluctuation in actual

values, it becomes difficult to project the future values.

 TABLE – 26

AUDIT FEES

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 .85 .89
1997 .90 .96
1998 1.17 1.03
1999 1.11 1.10
2000 1.13 1.19
2001 1.26
2002 1.34
2003 1.42
2004 1.49
2005 1.57

Source : Secondary data

Inference

The actual figures of auditors fees is varying from one year to another. Because

first 3 years there is an increased trend in actual value but during 1999 auditors fees

values has reduced, during 2000 the actual value increased from 1.11 lakh to 1.13 lakhs.

During the year 1999 the actual and projected values are seems to be each other.
 TABLE – 27

PROFIT

Year Actual (Rs. in Lakhs) Projected (Rs in Lakhs)

1996 36.19 31.2
1997 27.05 35.3
1998 42.09 39.4
1999 43.23 43.5
2000 48.60 47.6
2001 51.7
2002 55.8
2003 59.9
2004 64
2005 68.1

Source : Secondary data

Inference

During the year 1997 the actual value of profit is low when compared to all the

years. During the year 1999 the actual and projected years are closed to each other. From

the year 1998 to 2000 the actual profit has increased from one year to another year. So

projected figures has increased steadily. From this the bank will expect more profit in

future.
 FINDINGS

1. Average current ratio was 3.09 which is above the standard norm of 2:1 and so it

was found to be satisfactory.

2. Average absolute liquid ratio was 1.62, which is above the standard norm of

0.5:1, and it was found to be satisfactory.

3. If net worth is lesser than fixed asset, the share holders can not make more

investment in fixed asset. So because of this reason the bank will be depending

on outsider’s funds to finance fixed assets.

4. In total current asset, the average cash value is 6.96%

5. In total current asset, the average debtors is .28%

6. Based on the trend forecasting of the cash on hand, the cash is expected to be

increasing in the future.

7. Total loans are very high than the shareholders funds.

8. According to the forecasting technique most of the actual income and

expenditures are equal to the forecasted values.

9. Only through interest and discounts, the bank has earning their large amount of

income
10. If the borrowings of the bank is reduced which in turn will reduce the interest

borrowings that will increase the profits.

11. At present banks non-performing assets are increased. If non-performing asset is

more than 15%, the government will not allow to open further branches.

12. The banks liquidity position is low in the year 1998-99. Because the banks bad

debts amounts has increased.

13. The bank is prefer short-term borrowings as more when compared to share

holders funds.

14. Compared to share holders funds, the loans offered to customers are very high.
 SUGGESTIONS

1. The bank should maintain complete records without failure.

2. Fixed assets of the bank should be revalued annually.

3. Proper technique should be adopted for planning and control of cash in order to

regularize and optimize the use of cash balances.

4. Payment of interest should be reduced by minimizing the borrowings of long-term

debt.

5. The bank should take proper action to reduce the non-performing assets.

6. The bank should keep a constant eye on its expenses and especially the interest

and borrowings since they constitute and major portion of loans and advances.

7. The bank should maintain proper internal audit system.

8. The bank should be computerized to decrease the work load and increase the

work efficiency and also for time consumption.

9. The bank should appoint qualified persons to do the job efficient manner.

10. The bank should follow strict policy regarding the collection of loan amounts.

CONCLUSION
 A Study was conducted in the Shevapet Urban Cooperative Bank Ltd., No.

S.392. Salem. This Study helped the analyst to gain exposure in the following fields.

 Ratio Analysis

 Trend Forecasting

This study is on the overall financial position of The Shevapet urban Co-

operative bank Ltd., No.S. 392. Salem helped me to identify the liquidity position,

finance required to meet day to day operations, forecasting for the future plans.

Based on the analysis findings from this study, recommendations were made to

the bank to enable them to plan their future financial position for their strength addition.
 BIBLIOGRAPHY

1 DAVAR S.R Law and practice of banking

2 GUPTA S.P Statistical methods

3 KOTHARI C.R Research methodology

4 Dr. MAHESWARI S.N Financial accounting

5 DR.NIRMALAPRASAD.K & Banking and Financial System

CHANDRA DASS.J

6 DR.NATHUR.B.S Co-operation in India

7 PANDEY.I.M Financial Management

8 PILLAI AND BAGAVATHI Statistics

9 PRASANNA CHANDRA Fundamental of Financial Management

10 SHARMA,R.K Management Accounting

SHASHI, K. GUPTA

11 SRINIVAS, M Organisation and Management of

Co-Operation Banks

12 SUNDARAM K.P.M Banking and Law Practice

AND VARSHNEY,P.N

13 S.U.C.B. ANNUAL REPORT

 FORECASTING

CASH ON HAND

Cash on hand Deviation from

Years XY X2
(y) 1998 (x)

1996 1.22 -2 -2.44 4

1997 1.65 -1 -1.65 1

1998 1.55 0 0 0

1999 1.73 1 1.73 1

2000 2.01 2 4.02 4

Σ Y= 8.16 Σ Y= 0 Σ XY=1.66 Σ X2=10

Since Σ X= 0;

Σ Y Σ XY
a = -------------------- b = -----------------
N Σ X2

8.16
a = -------------------- = 1.63
5

1.66
b = -------------------- = .167
10
Hence

Y = a + bx

For 1996th year, X will be (-2)

Y 1996 = a + b (-2)

=1.63+ .167(-2)

= 1.26

For 1997th year, X will be (-1)

Y 1997 = a + b (-1)

=1.63+ .167(-1)

= 1.43

For 1998th year, X will be (0)

Y 1998 = a + b (0)

=1.63+ .167(0)

= 1.63

For 1999th year, X will be (1)

Y 1999 = a + b (1)

=1.63+ .167(1)

= 1.83
For 2000th year, X will be (2)

Y 2000 = a + b (2)

=1.63+ .167 (2)

= 1.92

For 2001st year, X will be (3)

Y 2001 = a + b (3)

=1.63+ .167(3)

= 2.11

For 2002nd year, X will be (4)

Y 2002 = a + b (4)

=1.63+ .167(4)

= 2.32

For 2003rd year, X will be (5)

Y 2003 = a + b (5)

=1.63+ .167(5)

= 2.51

For 2004th year, X will be (6)

Y 2004 = a + b (6)

=1.63+ .167(6)

= 2.62
For 2005th year, X will be (7)

Y 2005 = a + b (7)

=1.63+ .167(7)

= 2.80

Years Forecasted Values

1996 1.26

1997 1.43

1998 1.64

1999 1.83

2000 1.92

2001 2.11

2002 2.32

2003 2.51

2004 2.62

2005 2.80