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#
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For the purpose of segment reporting in terms of AS-17 of the ICAI,
the business of the Bank has been classified into two segments a) Treasury Operations and b) Other
Banking Operations
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#
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Since the Bank does not have any Overseas branch, reporting under
geographic segment has not been done.
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#
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Expenses, 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 average operating assets.
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NOTES:
1)
The above results have been subjected to limited review by the Statutory Central
Auditors and were taken on record by the Board of Directors of the Bank at its meeting held on
24.10.2007.
2)
Working results for the half year ended 30.09.2007 have been arrived at after making
necessary provisions.
3)
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.
4)
In accordance with the bank’s policy, the bank’s premises have been revalued as on 1st April 2007 resulting in increase in value by Rs.333.87 crore, which has been given
effect and credited to Revaluation Reserve during the quarter.
5)
In view of IFCI’s offer and the Bank’s acceptance of the embedded option of Zero
coupon optionally convertible debentures (ZCOCD) into equity and interest bearing securities,
provision in respect of valuation of these securities for the current quarter amounting to Rs.12.14
Crore has not been considered. In the opinion of the management, the existing provision of Rs.12.40
crore already held is adequate.
6)
The figures of the previous period/year have been re-grouped and re-classified
wherever necessary.
7)
The number of shareholders' complaints pending is Nil. Number of complaints
received and resolved during the quarter are 784.
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Place : Bangalore
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T. VALLIAPPAN
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PRAKASH P. MALLYA
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Date : 24.10.2007
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Executive Director
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Chairman & Managing Director
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