We are pleased to announce the working results of the Bank for the year ended 31st March 2007. The Board of Directors met on 28th April 2007 in New Delhi and at the conclusion of the meeting the results were declared.

1. WORKING RESULTS
Highlights of the working results for the year ended 31st March 2007 are as follows:

1. Business Growth
The Bank’s business continues to grow at an impressive rate, with total business mix having gone up by Rs.23645 Crore to Rs.109391 crore as on 31st March 2007 from Rs. 85746 crore as on 31st March’ 2006, which translates into growth rate of 27.57%.

2. Investment
Investments have increased from Rs. 16890 crore in March 2006 to Rs.20013 Crore in March’2007 due to increase in SLR/Non SLR investments and special bonds.

4. NPA During
The year, Bank has made a recovery of Rs.750.60 crore (Including Rs78.14 Crore as recorded interest recovered) resulting in reduction of Gross NPA from Rs.2116.31 crore as on March 2006 to Rs.1454.05 crore as on March 2007 (5.95 % to 3.20 %) and Net NPA from Rs. 162.98 crore as on March 2006 to Rs.215.66 crore as on March 2007 (remained at 0.49%).

5. Capital Adequacy
CAR as of March 2007 is 12.51% as against 11.04 % as of March 2006.

6. Productivity Employee
Productivity has gone up by Rs.170 lac as on March 2007, from Rs 573 lacs as on March 2006 to Rs. 743 lacs as on March 2007.

7. EPS and Book Value
Consequent upon increase in capital base of the Bank, Earnings Per Share as on 31.03.2007 works out to Rs.23.18 as against Rs.22.83 as on 31.03.2006. The Book Value is Rs.193.90 per share as on 31.03.07 as against Rs. 164.65 per share as on 31.03.06.

8. Achievements during the financial Year
* Branch Expansion: During the year ended 31st March 2007, 63 new Branches have been opened beside upgradation of 65 extention counters as branch ,taking the total to 1273 Branches besides 94 Extension Counters.

* IT Initiatives: During the year period ended 31st March 2007, 328 more branches have been brought under Centralised Banking Solution taking CBS branches to 1128 as on March 2007 covering 96% of the Bank’s business..

* ATMs: - 142 more ATMs were installed/operationalised during the year ended 31st March 2007 taking number of ATMs to total 666 .

Vision & Mission Statement

Our Vision
To be a sound all India, customer centric, efficient retail bank with contemporary size, technology and human capital; endeavouring to enrich lives across all sections of society; and committed to upholding the highest standards of corporate governance.

Our Mission
To provide the finest banking services by upgrading human capital and infusing advanced technology, thereby achieving total customer satisfaction; and being reckoned as the “Best Bank” in the Industry on all efficiency parameters.

To enhance shareholders’ wealth by ensuring sound growth of business and make valuable contributions to national economic growth.