3rd Quarter Results

UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 31 DECEMBER 2010

(` in Crore)

Quarter ended 31 December

Nine months ended 31 December

Year ended 31 March

2010

2009

2010

2009

2010

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

1

Interest earned [(a)+(b)+(c)+(d)]

1,021.88

944.64

2,952.01

2,720.09

3,673.23

(a) Interest/discount on

advances/bills

794.76

742.10

2,311.68

2,106.24

2,849.73

(b) Income on Investments

221.40

198.37

629.27

588.72

783.41

(c) Interest on balances with RBI

and other interbank funds

4.38

3.81

7.95

24.00

29.85

(d) Others

1.34

0.36

3.11

1.13

10.24

2

Other Income

121.69

116.48

375.62

400.32

530.91

3

TOTAL INCOME (1+2)

1,143.57

1,061.12

3,327.63

3,120.41

4,204.14

4

Interest Expended

574.63

563.53

1,653.07

1,718.95

2,262.40

5

Operating Expenses (i)+(ii)

212.23

166.05

597.53

488.40

676.89

(i) Employee Costs

119.84

87.43

345.38

269.59

366.05

 (ii) Other operating expenses

92.39

78.62

252.15

218.81

310.84

6

TOTAL EXPENDITURE (4)+(5)(excluding Provisions and Contingencies)

786.86

729.58

2,250.60

2,207.35

2,939.29

7

OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies)

356.71

331.54

1,077.03

913.06

1,264.85

8

Provisions (other than Tax) and Contingencies

142.38

105.31

446.02

307.40

405.30

9

Exceptional Items 

-

-

-

-

-

10

Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9)

214.33

226.23

631.01

605.66

859.55

11

Tax expense 

71.23

115.98

215.65

257.96

395.00

12

Net Profit (+)/Loss(-) from Ordinary Activities after tax (10-11)

143.10

110.25

415.36

347.70

464.55

13

Extraordinary items (net of tax expense) 

-

-

-

-

-

14

Net Profit (+)/Loss(-) for the period (12-13) 

143.10

110.25

415.36

347.70

464.55

15

Paid-up equity share capital(Face value Rs.10/-)

171.03

171.03

171.03

171.03

171.03

16

Reserves excluding revaluation reserve

-

-

-

-

4,513.55

17

Analytical Ratios

(i) Percentage of shares held by Government of India

Nil

Nil

Nil

Nil

Nil

(ii) Capital Adequacy Ratio (%)

(a) Under Basel I

16.13

17.76

16.13

17.76

17.27

(b) Under Basel II

16.42

18.50

16.42

18.50

18.36

(iii) Earnings per share (EPS)

(a) Basic and diluted EPS before extraordinary items

8.37*

6.45*

24.29*

20.33*

27.16

(b) Basic and diluted EPS after extraordinary items

8.37*

6.45*

24.29*

20.33*

27.16

(iv) NPA Ratios

a) Gross NPA

1152.88

790.72

1152.88

790.72

820.97

b) Net NPA

227.08

146.85

227.08

146.85

128.79

c) % of Gross NPA

3.95

2.97

3.95

2.97

2.97

d) % of Net NPA

0.81

0.56

0.81

0.56

0.48

(v) Return on Assets (%)

0.32*

0.27*

 0.97*

0.88*

1.15

18

Public Shareholding:

Number of Shares

1675.98 Lakh

1660.52 Lakh

1675.98 Lakh

1660.52 Lakh

1672.11 Lakh

Percentage of shareholding

98.04

97.14

98.04

97.14

97.82

19

Promoters and Promoter group shareholding 

 Nil

 Nil

 Nil

 Nil

 Nil

·; Not annualized

Segment Information @

 (` in Crore)

 Quarter ended

 Nine months ended

 Year ended

31-Dec-10(Unaudited)

31-Dec-09(Unaudited)

31-Dec-10(Unaudited)

31-Dec-09(Unaudited)

31-Mar-10(Audited)

Segment Revenue:

Treasury Operations

231.38

219.76

675.80

710.82

908.70

Corporate/Wholesale Banking

367.65

251.67

1,047.34

814.55

1,285.02

Retail Banking

534.14

585.61

1,585.22

1,575.94

1,975.06

Other Banking Operations

10.40

4.08

19.27

19.10

35.36

Total Revenue

1,143.57

1,061.12

3,327.63

3,120.41

4,204.14

Segment Results (net of provisions):

Treasury Operations

10.77

20.24

47.51

143.63

151.47

Corporate/Wholesale Banking

62.85

59.38

163.37

137.15

229.86

Retail Banking

131.48

143.24

404.61

309.13

449.91

Other Banking Operations

9.23

3.37

15.52

15.75

28.31

Total Profit before tax

214.33

226.23

631.01

605.66

859.55

Capital employed:

Treasury operations

1,580.78

1,496.25

1,580.78

1,496.25

 1,503.85

Corporate/Wholesale Banking

1,544.21

1,385.41

1,544.21

1,385.41

1,381.06

Retail Banking

1,978.00

1,789.76

1,978.00

1,789.76

1,802.44

Other Banking Operations

2.80

2.14

2.80

2.14

3.09

Total

5,105.79

4,673.56

5,105.79

4,673.56

4,690.44

@

For the above segment reporting, the reportable segments are identified into Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations in compliance with the revised RBI guidelines. The Bank has only the Domestic geographic segment.

Notes

1

As a prudent policy, the Bank holds provisions for NPAs and standard assets over and above the minimum required under the RBI norms. Further, provision for restructured advances has been made as per RBI guidelines.

2

Provisions for gratuity, pension (other than second option for pension), leave encashment, bonus, income tax including deferred tax and other usual and necessary items have been made on estimated basis. The net liability arising out of second option for pension is estimated at ` 158.79 crore. This liability is proposed to be amortised over a period of 5 years subject to the approval of the regulator. Pending such approval, propotionate liability for the current quarter amounting to ` 8.50 crore (` 24.50 crore for the nine months ended 31.12.2010) has been provided, and the balance liability of ` 134.29 crore is carried over.

3

Number of Investor complaints/correspondence received and disposed off during the quarter ended 31 December 2010:a) Pending at the beginning of the quarter : NILb) Received during the quarter : 43c) Disposed off during the quarter : 43d) Pending at the end of the quarter : NIL

4

Figures for the previous periods have been recast/ regrouped wherever necessary.

5

The above financial results, subjected to limited review by statutory central auditors, have been taken on record by the Audit Committee and approved by the Board of Directors at its meeting held on 28.01.2011.

Kochi

 SHYAM SRINIVASAN

28 January 2011

 MANAGING DIRECTOR & CEO