UNAUDITED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED 31.12. 2006
(Rupees in lakh)
SL. NO. PARTICULARS QUARTER ENDED
(REVIEWED) 		Nine months ended
(Reviewed) 		YEAR ENDED
(AUDITED)
31.03.2006
30.06.2006 30.06.2005 31.12.2006 31.12.2005
01 Interest earned [(a)+(b)+(c)+(d)]

73187

59426

 201951
172179 231180
  (a) Interest/discount on advances/bills 45907
35784 125034 99736 134241
  (b) Income from investments 134241 22981 69634 69902 93174
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 1191
516 2311 1558 2132
  (d) Others 1412 145 4972 983 1633
02 Other Income 7296 7410 23137 26990 36899
  A) TOTAL INCOME (1+2) 80483 66836 225088 199169 268079
03 Interest Expended 46689 33615 123640 99260 133902
04 Operating Expenses (e) + (f) 16571 16123 47056 46232 62354
  (e) Payments to and provisions for employees 9987 10052 28415 27753 37884
  (f) Other operating expenses 6584 6071 18641 18479 24470
  B) TOTAL EXPENDITURE (3+4) (excluding provisions and contingencies) 63260 49738 170696 145492 196256
  C) OPERATING PROFIT (A - B) (profit before provisions and contingencies) 17223 17098 54392 53677 71823
  D) Provisions and Contingencies 5354 7314 21151 32112 53877
  - Of which provision for Non Performing Assets 1920 3150 6255 2675 12675
  E) Provision for taxes (including deferred taxes) 2596 3904 6472 5424 5258
  (i) Current Tax 2567 740 4048 1650 1700
  (ii) Deferred Tax
-69 3084 2113 3564 3223
  (iii) Fringe Benefit Tax
98 80 311 210 335
  F) Net Profit (C-D-E) 9273 5880 26769 16141 12688
05
Paid up equity share capital 		43352 43352 43352 43352 43352
06 Reserves excluding revaluation reserves
(as per Balance Sheet of previous accounting year) 		118662 110264 118662 110264 118662
07 Analytical Ratios
         
  (i) Percentage of shares held by Government of India 53.87 53.87 53.87 53.87 53.87
  (ii) Capital Adequacy Ratio % 11.31 12.85 11.31 12.85 11.94
  (iii) Earnings per share (not annualised) 2.14 1.36 6.17 3.72 2.93
  (iv) (a) Amount of gross Non Performing Assets 52031 48549 52031 48549 54015
  (b) Amount of net Non Performing Assets 10034 15576 10034 15576 14232
  (c) Percentage of gross Non Performing Assets 2.51 2.98 2.51 2.98 3.17
  (d) Percentage of net Non Performing Assets 0.49 0.97 0.49 0.97 0.85
  (v) Return on Assets (annualised) % 1.00 0.79 1.04 0.72 0.45
08 Aggregate of Non-promoter share holding          
  - Number of shares 200000000 200000000 200000000 200000000 200000000
  - Percentage of share holding 46.13 46.13 46.13 46.13 46.13
Segment-Wise Results, Assets And Liabilities For Half Year Ended 30.09.2006 (Rupees in lakh)
(Rupees in lakh)
Business Segments #

TREASURY

OTHER BANKING OPERATIONS

TOTAL

 Year ended 31.03.06
Quarter ended Nine months ended Quarter ended Nine months ended Quarter ended Nine months ended
31.12.06
31.12.05 31.12.06 31.12.05 31.12.06 31.12.05 31.12.06 31.12.05 31.12.06 31.12.05 31.12.066 31.12.05
Revenue 9612
11677
25691
 38471 70871
55159 199397
160698 80483
66836
225088 199169 268079
Result 3513 4577 8191 13971 14559 13493 49169 42844 18072
18070 57360 56815 75818
Unallocated expenses                 849
972
2968 3138 3995
Operating profit                 17223 17098 54392 53677 71823
Provisions & Contingencies                 5354 7314
21151

32112 53877
Provision for tax                 2596 3904 3876 1520 5258
Extraordinary Profit/(loss)                          
Net Profit                 9273
5880
26769 16141 12688
OTHER INFORMATION                          
Segment Assets     352274
458797  

 

 3388149 2550981  

 

 3740423 3009778 3104402
Unallocated Assets          

 

      

 

 52064 47503 49008
Total Assets          

 

      

 

 3792487 3057281 3153410
Segment Liabilities     339428 439293  

 

 3264593 2442533  

 

 3604021 2881826 2986495
Unallocated Liabilities                          
Total Liabilities                  

 

 3432474 2799542 2986495


# 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
# Since the Bank does not have any Overseas branch, reporting under geographic segment has not been done.
# 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.
  1. The above results have been taken on record by the Board of Directors of the Bank at its meeting held on 27.01.2007.
  2. Working results for the half year ended 31.12.2006 have been arrived at after making necessary provisions.
  3. The method of amortization of premium on investment under ?Held to Maturity? category has been changed from ?Straight Line Method? to ?Constant Yield Method?, resulting in lower amortization to the extent of Rs34.87. crore with consequential effect on profit.
  4. Bank has accounted for Rs.10.56 crore pertaining to entries originated in Inter Branch Account upto 31.03.1999 under Miscellaneous Income, as approved by Reserve Bank of India . Based on legal opinion, tax on such credit is not provided for.
  5. Pursuant to change in additional provisioning requirements for standard assets in specified sectors from 0.40% to 1.00% for the year ending March 2007, as notified by the Reserve Bank of India , the Bank has made full provision.
  6. The Institute of Chartered Accountants of India has issued a revised Accounting Standard (AS-15) on employee?s benefit effective from 01.04.2006. Pending RBI guidelines, the Bank has made provision on estimated basis.
  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 quarter are 764.
Place :  Bangalore   T.VALLIAPPAN   PRAKASH P. MALLYA
Date  :  27.01.2007   EXECUTIVE DIRECTOR   CHAIRMAN & MANAGING DIRECTOR