BUSINESS:   

Ø       Total Business increased by 33.73% from Rs.51581 crore to Rs.68980 crore.    

Ø       Total Deposits increased by 31.98% from Rs.31952 crore to Rs.42169 crore.    

Ø       Gross Advances increased by 36.59% from Rs.19629 crore to 26811 crore.   

PROFITABILITY :  

Ø               Net Profit for the period ended 30.09.2007 is Rs.216.60 crore as against Rs.174.96 crore for the period ended 30.09.2006, recording growth of 23.80%.

Ø                Operating Profit for the period ended 30.09.2007 is Rs.315.82 crore as against Rs.339.98 crore.  

Ø                 Interest Income from advances increased from Rs.1287.64 crore to Rs.1862.64 crore, recording growth of 44.65%.    

Comparison of quarter ended 30.09.2007 with quarter ended 30.09.2006.  

Ø                  Net Profit for the quarter ended 30.09.2007 is Rs.105.25 crore as against Rs.102.33 crore for the quarter ended 30.09.2006.    

Ø                  Operating Profit for the quarter ended 30.09.2007 is Rs.144.55 crore as against Rs.159.84 crore. 

Ø                  Interest Income from advances increased from Rs.674.20 crore to Rs.964.41 crore, recording growth of 43.04%.     

Asset Quality :   

Ø                   Gross Non-Performing Assets is Rs. 543.28 crore as against Rs.564.31 crore as on 31.03.2007 . Gross NPA ratio is 2.03% as against 2.29% as on 31.03.2007 & 2.60% as on 30.09.2006.  

Ø                   Net Non-Performing Assets is Rs. 115.60 crore as against Rs.143.96 crore as on 31.03.2007 . Net NPA ratio is 0.44% as against 0.59% as on 31.03.2007 and 0.57% as on 30.09.2006.  

Ø                   NPA Provision Coverage Ratio is 78.72%. 

Ø                   Total Cash Recovery for the period ended 30.09.2007 is Rs.136.92 crore as against Rs.117.41 crore for the period ended 30.09.2006.   

KEY RATIOS :   

Ø                   Return on Average Assets (annualised) is 0.97% for the period ended 30.09.2007. 

Ø                   Return on Net Worth is 22.36% as against 20.82% for the period ended 30.09.2006. 

Ø                   Capital Adequacy Ratio stood at 11.28% and is above the RBI stipulated norm of 9%. 

Ø                   Average business per employee gone up from Rs.4.18 crore as on 30.09.2006 to Rs. 5.84 crore as on 30.09.2007. 

Ø                   Earning per Share (annualised) gone up from Rs.8.08 as on 30.09.2006 to Rs.10.00 as on 30.09.2007.   

Ø                   Book Value per share gone up from Rs.41.04 as on 30.09.2006 to Rs.47.10 as on 30.09.2007. 

Ø                   Establishment Cost to gross Income down from 12.74% as on 30.09.2006 to 9.24% as on 30.09.2007.   

Ø                   Net Interest Margin [NIM] stood at 2.61%.   

Ø                   Low Cost Deposit ratio stood at 31.12%.   

COMMITMENT TO SOCIETY :   

Ø                  Priority Sector Credit is Rs.10319 crore as against Rs.8427 crore as on 30.09.2006, recording a growth of 22%. Priority Sector Credit as percentage to Adjusted Net Bank Credit stood at 42%, above the standard norm of 40%. 

Ø                  Agricultural Credit increased from Rs.2598 crore to Rs.3017 crore, recording growth of 16%.  

Ø                  Advances to Micro, Small & Medium Enterprises (MSME) doubled from Rs.1466 crore to Rs.2960 crore.  MSME credit constitutes 12% of Adjusted Net Bank Credit.  

Ø                  Advances to Weaker Sections increased from Rs. 1084 crore to Rs.1367 crore, recording growth of 26%.  

new business initiatives & plans for financial year  2007-08:   

Ø                   Corporate goal for 2007-08 is “Improving Profitability through Core Business”.

Ø                   To reach total business of Rs.76,000 Crore comprising of total deposits of Rs.45,000 crore and advances of  Rs.31,000 Crore.  

Ø                   To reach 1050 branches network by March 2008.   

Ø                   Bank has become the member of National Financial Switch Group, thereby enabling the customers to access over 14000 ATMs of 26 participating Banks.  

Ø                   To increase networked ATMs from 171 to a minimum of 375 as on 31.03.2008.  

Ø                   To increase number of CBS business outlets from 571 to 675 and the business coverage from 85% to 90%.  

Ø                   REAL TIME GROSS SETTLEMENT (RTGS) facility and NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) facility has been provided through all CBS branches.   

Ø                   To achieve growth of 76% for the year under Education Loan portfolio from Rs.209 crore to Rs.367 crore.   

Ø                   To boost credit offtake to specific sectors like Agriculture/ SSI/ MSME/ Women/ Weaker Sections etc.    

Ø                   Human Resource Management System is under implementation.  

Ø                  To focus on core deposits and to improve deposits under Current and Savings Accounts (CASA).    

Ø                   To arrest the growth in NPAs and achieve accelerated performance under recovery of NPAs through aggressive recovery campaigns such as, Vijaya Adalats and Settlement Camps with greater HO participation.  

Ø                   To increase the client base.   

Ø                   To focus on improving fee based income and aggressively promote fee-based non-fund based business like LCs, Bank Guarantees etc.   

Ø                   To ensure compliance with BASEL II capital adequacy requirements by Sept 2008, ahead of the prescribed schedule of March 2009.   

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