Vijaya Bank

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2008

(Rupees in lakh)

Sl. No.	Particulars	YEAR ENDED (Audited)
Sl. No.	Particulars	31.03.2008	31.03.2007
01	Interest earned [(a)+(b)+(c)+(d)]	398342	282311
	(a) Interest/discount on advances/bills	270440	176371
	(b) Income from investments	118971	94236
	(c) Interest on balances with Reserve Bank of India and other inter bank funds	1658	5063
	(d) Others	7273	6641
02	Other Income	43715	26429
03	TOTAL INCOME (1+2)	442057	308740
04	Interest Expended	305842	175116
05	Operating Expenses (i) + (ii)	70127	65072
	(i) Employee costs	40492	39214
	(ii) Other operating expenses	29635	25858
06	TOTAL EXPENDITURE (4+5) (Excluding provisions and contingencies)	375969	240188
07	OPERATING PROFIT (3 –6) (Profit before provisions and contingencies)	66088	68552
08	Provisions (other than tax) and Contingencies	38329	34827
09	Exceptional items	-	(1050)
10	Profit/(Loss) from Ordinary Activities before tax (7-8-9)	27759	34775
11	Tax Expenses[(i)+(ii)+(iii)+(iv)]	(8369)	1641
	(i) Current Tax	3200	3299
	(ii) Deferred Tax	(8709)	2010
	(iii) Fringe Benefit Tax	340	411
	(iv) MAT credit	(3200)	(4079)
12	Net Profit/(Loss) from Ordinary Activities after tax (10-11)	36128	33134
13	Extraordinary Items (Net of Tax Expense)	-	-
14	Net Profit/(Loss) for the period (12-13)	36128	33134
15	Paid up equity share capital (Face value of each share-Rs.10/-)	43352	43352
16	Reserves excluding Revaluation Reserves (As per Balance Sheet of previous accounting year)	167289	141781
17	Analytical Ratios
	(i) Percentage of shares held by Government of India	53.87	53.87
	(ii) Capital Adequacy Ratio (%)	11.22	11.21
	(iii) Earnings per share (EPS) (Not annualized)
	(a) Basic and Diluted EPS before Extraordinary Items (Net of Tax Expenses for the period, for the year to date and for the previous year)	8.33	7.64
	(b) Basic and Diluted EPS after Extraordinary Items for the period, for the year to date and for the previous year	8.33	7.64
	(iv) NPA Ratios
	a) Amount of Gross Non Performing Assets	51150	56431
	b) Amount of Net Non Performing Assets	18161	14396
	c) Percentage of Gross Non Performing Assets	1.60	2.29
	d) Percentage of Net Non Performing Assets	0.57	0.59
	(v) Return on Assets (Annualised) (%)	0.75	0.92
18	Public share holding
	- Number of shares	200000000	200000000
	- Percentage of share holding	46.13	46.13

SEGMENT-WISE RESULTS, ASSETS AND LIABILITIES FOR YEAR ENDED 31.03.2008

(Rupees in lakh)

Business Segments #	Treasury	Corporate / Wholesale Banking	Retail Banking	Other Banking Operations	Total
Business Segments #	Treasury	Corporate / Wholesale Banking	Retail Banking	Other Banking Operations	31.03.2008	31.03.2007
Revenue	1417.03	1321.35	1383.05	299.14	4420.57	3097.90
Result	221.72	206.75	216.40	46.81	691.68	736.16
Unallocated expenses					30.80	40.14
Operating profit					660.88	696.02
Provisions & Contingencies					383.29	348.27
Provision for taxes					-83.69	16.41
Extraordinary profit / loss						-
Net profit					361.28	331.34
Other Information
Segment assets	19362.90	19417.40	15866.68	397.63	55044.61	41816.39
Unallocated assets					1139.70	541.10
Total assets					56184.31	42357.49
Segment liabilities	19763.80	19819.44	16195.20	405.87	56184.31	40460.81
Unallocated liabilities					-	1896.68
Total liabilities					56184.31	42357.49

#	For the purpose of segment reporting in terms of AS-17 of ICAI and as prescribed in RBI guidelines, the business of the Bank has been classified into four segments i.e. a) Treasury Operations b) Corporate/Wholesale Banking c) Retail Banking and d) Other Banking Operations.
#	Since the Bank does not have any Overseas branch, reporting under geographic segment is not applicable.
#	Apportionment of expenses has been made based on segment revenue. #
#	Assets and liabilities wherever directly related to segments have been accordingly allocated to segments and wherever not directly related have been allocated on the basis of segment revenue

NOTES:

1) The above results have been audited by the Statutory Central Auditors and were taken on record by the Board of Directors of the Bank at its meeting held on 26.04.2008.

2) The Board of Directors has recommended a final dividend of 20%.

3) Working results for the year ended 31.03.2008 have been arrived at after making necessary provisions.

4) The Bank has adopted revised Accounting Standard 15 – ‘Employee Benefits’ issued by The Institute of Chartered Accountants of India, with effect from 01-04-2007. Transitional liability of Rs.4.76 crore on account of short term employee benefits up to 31-03-2007 has been adjusted against the opening Revenue Reserves of the Bank.

5) In accordance with the bank’s policy, the bank’s premises have been revalued as on 1 ^st April 2007 resulting in increase in value by Rs.333.87 crore, which has been given effect and credited to Revaluation Reserve during the period.

6) The Bank has created Deferred Tax Asset on available loss (including carry forward loss of earlier year of Rs.53.04 crore), which was not recognised for the purposes of deferred tax. This has effect on the profit for the year to the extent of Rs.18.03 crore.

7) The figures of the previous period/year have been re-grouped and re-classified wherever necessary.

8) The number of shareholders' complaints pending is Nil. Number of complaints received and resolved during the year are 2582.

Place : Bangalore	T. VALLIAPPAN	PRAKASH P. MALLYA
Date : 26.04.2008	Executive Director	Chairman & Managing Director