• Operating Profit in Q4 increased to Rs.614.15 Crore from Rs.369.97 Crore in Q4 of 2007-08 recording a growth of 66%.
  
• Net Profit increased to Rs.264.09 Crore as against Rs.169.51 Crore corresponding previous quarter registering a growth of 55.80%.
  
• Net Interest Income showed a robust growth of 42.54% at Rs.592.51 Crore as against Rs.415.69 Crore of corresponding quarter of previous year.
  
• Non Fund Non Interest Income during Q4 was Rs.207.50 Crore as against Rs.142.50 Crore in corresponding quarter of the previous year.
  
• Yield on Advances stood at 10.59% as against 10.66% of corresponding previous quarter
  .
• Cost of Deposits decreased to 6.36% from 6.94% as at March’08
  
• Yield on Investments increased to 7.40 % as against 7.27% of corresponding quarter of previous year.
  
• Yield on funds stood at 9.10%
  
• Cost of funds contained to 6.38 % from 6.88%.
  
• Net Interest Margin improved to 2.97% from 2.32%

12 Months period ending 31.03.2009:

• Operating Profit recorded a growth of 28.50% at Rs.1901.15 Crore against Rs.1479.51 Crore of previous year.
  
• Net Interest Income improved by 29.08 % at Rs.2158.67 Crore against Rs.1672.34 Crore of previous year.
  
• Non Fund Non Interest Income increased to Rs.523.78 Crore from Rs.437.97 Crore.
  
• Net Interest Margin increased to 2.88% from 2.61%.
  
• Yield on Advances rose to 10.88% from 10.76%.
  
• Cost of Deposits declined to 6.62 % from 6.67%.
  
• Yield on Investments improved to 7.57 % from 7.43%.
  
• Yield on funds improved to 9.62 % from 9.26%.
  
• Cost of funds stagnant at 6.67 % from 6.66%
  
• Net Profit stood at Rs. 768.60 Crore as against Rs.974.74 Crore on account of higher provisioning for Investment Depreciation and Income Tax.

Business:

• The Business of the Bank stood at Rs.144415 Crore as on 31.03.2009 as against Rs.1,21,929 Crore corresponding previous year registering a growth of 18.44% Year-on-Year.
  
• Deposit of the Bank went up to Rs.84972 Crore as on 31.03.2009 from Rs.71616 Crore as on 31.3.2008. Year-on-Year basis, Total Deposits grew by 18.65%.
  
• Core Deposit of the Bank increased from Rs.51640 Crore as on 31.03.2008 to Rs.68337 Crore as on 31.03.2009 thereby showing a growth of 32.33%.
  
• Deposits under Differential Rate and Certificate of Deposits have been reduced to Rs.16635 Crore from Rs.19976 Crore as on 31.03.2008.
  
• Share of Deposits under Differential Rate to Total Deposits reduced to 8.16% as on 31.03.2009 from 27.61% for corresponding date last year.
  
• Gross Credit was Rs.59443 Crore as on 31.03.2009 as against Rs.50312 Crore as on 31.3.2008.
  
• Year-on-Year basis, the Gross Credit increased by 18.15 %.
  
• Gross Credit to Total Deposit ratio stood at 69.96 % as at March 2009 as against 70.25 % as on 31.03.2008.
  
• Advances under Priority Sector increased from Rs.18774 Crore as on 31.03.2008 to Rs.20435 Crore as on 31.03.2009 reaching 41.10% of Adjusted Net Bank Credit (ANBC) against the stipulated norms of 40%.
  
• Agricultural Credit increased from Rs.9146 Crore as on 31.03.2008 to Rs.9,568 Crore as on 31.03.2009 constituting 19.20% of ANBC against stipulated norms of 18%.
  
• Credit to Weaker Section was 10.77% of ANBC against stipulated norms of 10%
  
• Credit to Micro and Small Enterprise increased from Rs.3,530 Crore as on 31.03.2008 to Rs.4,593 Crore as on 31.03.2009 registering a growth of Rs.1063 Crore (30.11%).
  
• Outstanding in Retail Credit was Rs.8406.48 Crore as on 31.03.2009 as against Rs.7394.25 Crore on 31.03.2008 at a growth of 13.68%. Fresh disbursement of loan to the tune of Rs.1795.60 Crore made during the year upto March’09 as against Rs.1292.69 Crore during the last financial year registering a growth of 38.90%.
  
• Export Credit increased to Rs.2051.22 crore as on 31.03.2009 from Rs.1616.57 crore corresponding period last year.
  
• Business per employee rose from Rs. 6.04 Crore as on 31.03.2008 to Rs.7.06 Crore as on 31.03.2009.
  
• Business per branch improved from Rs.56.61 Crore as on 31.03.2008 to Rs.63.90 Crore during the period.

Asset Quality:

• Gross NPA declined to 1.81 % from 2.00% at March’08.
  
• Gross NPA stood at Rs. 1078.25 Crore.
  
• Net NPA at 0.72 % as against 0.80% in March’08.
  
• Net NPA stood at Rs. 422.11 Crore.
  
• 39056 accounts restructured in Standard Advances amounting to Rs.2531.98 Crore

Shareholders’ Value:

• Earning Per Share (EPS) stood at Rs.17.21 as at March’09 against Rs.21.82 for corresponding previous year.
  
• Return on Assets at 0.90 % as at March’09 against 1.32% corresponding period previous year.
  
• Book Value per share rose to Rs. 131.00 from Rs.116.88 as on 31.03.2008.
  
• Capital Adequacy Ratio stood at 13.11% as at March’09 against the stipulated norm of 9% and 11.99% previous yea

Technology:

• CBS implementation in 906 Branches and 10 Offices covering 436 centres and 81.30 % of Bank’s business as on 31.03.2009. The Bank plans to add another 900 branches under CBS by March, 2010 and cover the entire Bank by December 2010.
  
• E-Payment for Direct and Indirect Taxes made available to customers of all CBS branches.
  
• Cheque Truncation System successfully implemented in National Capital Region (New Delhi).
  
• Our Bank’s Customer can access more than 38000 ATMs across the country for all types of transactions without any charge.
  
• Customers of CBS branches can avail Online Payment Gateway Services at websites of around 120 merchants, like LICI, MTNL etc across the country.

New Initiatives:

• The Bank has entered into the world of Net Banking and SMS Banking.
  
• Retail Selling of Gold Coins and Bars launched in April, 2009 through select branches.
  
• Cash Management Services have been revamped by switching to new “Hub and Spoke Model”.
  
• Bank has been selected as a Point of Presence for New Pension System of Pension Fund Regulatory and Development Authority (PFRDA) launched through select branches from 1st May 2009.
  
• For providing inward Money Transfer Services, Bank entered into an agreement with M/s UAE Exchange and Financial Services Ltd.
  
• Tie-ups with M/s Maruti Suzuki (I) Ltd and M/s Suzuki Motorcycles (I) Pvt Ltd signed for becoming preferred financers of Maruti Cars as well as Suzuki Motorcycles.
  
• Bank has entered into a Corporate Agency Agreement with Universal Sompo General Insurance Company Limited for sale of General Insurance Products.
  
• System and Procedures have been streamlined to reap the benefits of CBS implementation and greater Customer Satisfaction.
  
• Bank opened 105 branches during the year taking total number of branches to 2260 (including one at Hong Kong).
  
• 17 branches opened in April’09 taking total no. of branches to 2277.

Human Resources:

• Total manpower strength of the Bank stood at 20,457 as on 31.03.2009 as against 20079 corresponding date last year.
  
• To meet the expansion requirement and need for specialized services, the Bank is in the process of completing recruitment of 1,000 Officers and 1,000 Clerical staff.
  
• The Bank has changed the Organizational Structure with placement of 9 General Managers in the field to facilitate the Business growth at a faster pace.
  
• 11828 personnel were imparted training during the year.

Risk Management:

• Basel -II norms have been implemented as per RBI directives and Standardised Approach adopted for Credit Risk, Standardised Approach (Duration based) for Market Risk and Basic Indicator Approach for Operational Risk.

Kolkata
4th May, 2009