Audited Financial Results for the year ended 31

Audited Financial Results for the year ended 31 st March 2009

KEY INDICATORS F. Y. [Rs. Crore] 2007 -08 2008 -09 Growth [%] Quarter Mar’ 08 Mar’ 09 Growth [%] Total income 3154. 02 3877. 62 22. 94 882. 98 1035. 83 17. 31 Total expenses 2467. 58 3151. 26 27. 71 664. 05 848. 07 27. 71 Operating Profit 686. 44 726. 36 5. 82 218. 93 187. 76 [14. 24] 29. 95 0. 00 70. 00 20. 00 Business Operating Profit 656. 49 796. 36 21. 30 188. 98 207. 77 9. 95 Provisions 326. 65 303. 70 [7. 03] 107. 94 76. 60 [29. 03] Exceptional items Profit on sale of properties Provision for wage revision 2

KEY INDICATORS F. Y. Quarter Growth [%] [Rs. Crore] 2007 -08 2008 -09 Growth [%] Mar’ 08 Mar’ 09 Net Profit 359. 79 422. 66 17. 47 110. 99 111. 17 0. 15% Business Net Profit [excl. exceptional items] 329. 84 492. 66 49. 36 81. 04 131. 17 61. 86 EPS [Rs. ] [non annualized] 12. 54 14. 74 3. 87 3. 88 Return on Assets [Annualized] - % 1. 06 1. 02 1. 21 1. 00 3

KEY INDICATORS [Rs. Crore] 31. 03. 08 31. 03. 09 % Growth over Mar 08 Aggregate Deposits 32232. 39 41405. 12 28. 46 Inter Bank Deposits 1710. 79 1645. 49 [3. 82] Total Deposits 33943. 18 43050. 61 26. 83 Gross Advances 23381. 16 29185. 36 24. 82 Investments 10334. 98 12538. 32 21. 32 Gross NPA Ratio [%] 2. 45 2. 13 Net NPA Ratio [%] 0. 94 1. 09 CRAR [%] Basel I 11. 09 10. 73 CRAR [%] Basel II N. A 12. 07 4

NET INTEREST INCOME [Rs. Crore] 2007 -08 2008 -09 Growth [%] Quarter Mar’ 08 Mar’ 09 Growth [%] Interest Income 2675. 90 3447. 50 28. 84 730. 24 895. 79 22. 67 Advances 1953. 37 2565. 98 31. 36 545. 22 668. 24 22. 56 Investment 691. 90 828. 13 19. 69 176. 67 220. 04 24. 55 Inter Bank 19. 92 17. 20 [13. 65] 2. 34 4. 55 94. 44 Others 10. 71 36. 19 237. 91 6. 01 2. 96 [50. 75] Interest Expense 1817. 14 2383. 07 31. 14 500. 99 656. 83 31. 11 Deposits 1718. 11 2255. 90 31. 30 471. 35 624. 14 32. 42 99. 03 127. 17 28. 42 29. 64 32. 69 10. 29 858. 76 1064. 43 23. 95 229. 25 238. 96 4. 24 Others Net Interest income [NII] 5

NON INTEREST INCOME [Rs. Crore] Commission 2007 -08 2008 -09 Growth [%] Quarter Mar 08 Mar 09 Growth [%] 120. 94 132. 31 9. 40 34. 69 37. 53 8. 19 Profit from Securities 90. 02 54. 32 [39. 66] 8. 48 22. 01 159. 55 Profit from sale of Properties / F&F 29. 95 0. 00 30. 24 [0. 62] Forex Exchange 42. 03 43. 86 4. 35 7. 48 9. 58 28. 07 Process fee 30. 10 39. 51 31. 26 11. 24 16. 43 46. 17 Incidental charges 11. 38 26. 09 129. 26 3. 69 21. 78 490. 24 114. 29 100. 24 [12. 29] 43. 23 27. 54 [36. 29] 39. 41 33. 80 [14. 23] 13. 69 5. 79 [57. 70] 478. 12 430. 13 [10. 04] 152. 74 140. 04 [8. 31] Recovery in written off advances Other Misc. Total non interest income 6

OPERATING EXPENSES [Rs. Crore] Staff Expenses 2007 -08 2008 -09 Growth [%] Quarter Mar 08 Mar 09 Growth [%] 370. 85 467. 89 26. 17 85. 77 116. 69 36. 05 33. 75 38. 47 13. 99 8. 53 9. 98 17. 00 Postage/Telephone 9. 31 12. 88 38. 35 2. 23 3. 70 65. 92 Printing/Stationery 10. 34 9. 94 [3. 87] 2. 61 1. 80 [0. 81] Depreciation 29. 45 26. 84 [8. 86] 8. 26 6. 49 [21. 43] Lighting 19. 39 21. 03 8. 46 4. 08 4. 63 13. 48 Rent & Taxes 36. 95 47. 82 29. 42 10. 45 13. 25 26. 79 Advertising 9. 47 11. 21 18. 37 4. 39 3. 40 [22. 55] Auditors Fees 7. 64 7. 45 [2. 49] 2. 33 2. 32 [0. 43] Repairs/Maintenance 19. 13 19. 31 0. 94 4. 71 2. 76 [41. 40] Core Banking Solution 35. 65 33. 06 [7. 27] 10. 00 6. 50 [35. 00] Other Expenses 68. 51 72. 29 5. 5 19. 70 19. 71 0. 01 Total Expenses 650. 44 768. 19 18. 10 163. 06 191. 23 17. 28 Insurance 7

PROVISION & CONTINGENCIES Quarter [Rs. Crore] Mar 08 Non Performing Loans Mar 09 Mar 08 Mar 09 264. 00 199. 44 127. 12 39. 88 [42. 17] 118. 77 [128. 33] 25. 24 Investment Depreciation 27. 58 21. 05 30. 15 12. 83 Standard Assets 78. 18 [54. 78] 78. 16 [1. 65] Other provisions [0. 94] 19. 23 0. 84 0. 30 Total Provisions 326. 65 303. 70 107. 94 76. 60 Tax expense 8

RESOURCES [Rs. Crore] 31. 03. 08 31. 03. 09 % growth Current Deposits 3015. 97 3496. 97 15. 95 Savings Deposits 10239. 19 11395. 58 11. 29 Term Deposits 18977. 23 26512. 57 39. 71 Aggregate Deposits 32232. 39 41405. 12 28. 46 41. 13 35. 97 Inter Bank Deposits 1710. 79 1645. 49 [3. 82] TOTAL DEPOSITS 33943. 18 43050. 61 26. 83 394. 61 52. 13 [86. 79] CASA [%] Borrowing 9

RESOURCES 10

DEPLOYMENT [Rs. Crore] Gross Advances 31. 03. 08 31. 03. 09 Growth over Mar 08 23381 29185 24. 82 8096 9715 20. 00 Agriculture 2794 3851 37. 83 Others 5302 5864 10. 60 PS credit to NBC [%] 43. 32 41. 55 Retail Credit 4294 4424 3. 03 S. M. E 3885 4775 22. 91 CD Ratio [%] 68. 88 67. 82 Gross investment 10335 12538 Priority Sec. Advance 21. 32 11

TREASURY [Rs. Crore] 31. 03. 08 Growth over Mar 08 31. 03. 09 SLR Investments 8595. 31 10075. 80 17. 22 Non-SLR Investments 1739. 67 2462. 52 41. 55 10334. 98 12538. 32 21. 32 Of which HFT 100. 72 [0. 97%] 104. 43 [0. 84%] 3. 68 AFS 1612. 26 [15. 60%] 2489. 27 [19. 85%] 54. 40 HTM 8622. 00 [83. 43%] 9944. 62 [79. 31%] 15. 34 AFS / HFT Duration [modified] 3. 39 2. 86 Portfolio Duration [modified] 4. 76 4. 74 Total Investments 12

DEPLOYMENT [Rs. Crore] Mar 08 Mar 09 Growth [%] [y on y] Net Advances 23024 28878 25. 43 Net Investments 10283 12473 21. 30 13

CAPITAL ADEQUACY [Rs. Crore] 31. 03. 08 31. 03. 09 Tier I capital 1535. 55 1780. 97 Tier II capital 986. 38 1398. 53 2521. 93 3179. 50 22742. 25 29645. 48 CRAR – Basel II N. A 12. 07 CRAR Core – Basel II N. A. 6. 76 11. 09 10. 73 6. 75 6. 01 1410. 55 1637. 00 Total capital funds Total RWAs CRAR – Basel I CRAR Core – Basel I Net Worth 14

ASSET QUALITY [Rs. Crore] 31. 03. 08 31. 03. 09 Gross NPA 572. 60 620. 77 Net NPA 215. 43 313. 38 Gross NPA Ratio [%] 2. 45 2. 13 Net NPA Ratio [%] 0. 94 1. 09 347. 62 299. 65 60. 71 48. 27 NPA Provision coverage 15

ASSET QUALITY 16

ASSET QUALITY [Rs. Crore] Mar 08 [FY] Mar 09 [FY] Variation [%] Gross NPA Opening Balance 744. 48 572. 60 Cash recoveries 184. 86 188. 72 2. 09 Upgradations 114. 07 191. 38 67. 77 Write off 288. 96 247. 44 [14. 37] Total Reductions 587. 89 627. 54 6. 74 Slippage & Debit Operations 416. 01 675. 71 62. 43 Closing Balance 572. 60 620. 77 Less: Add: 17

FINANCIAL RATIOS [cost/yield] [Quarter] Mar’ 08 Mar’ 09 Cost of Deposits [%] 5. 90 6. 36 6. 08 6. 56 Cost of Funds [%] 5. 95 6. 47 6. 13 6. 64 10. 11 10. 71 10. 08 10. 51 Yield on Investments with POSOI [%] 7. 74 7. 50 7. 58 7. 59 Yield on Investments without POSOI [%] 6. 88 7. 04 7. 26 6. 91 Yield on Funds [%] 8. 22 8. 76 8. 35 8. 36 Yield on Advances [%] 18

FINANCIAL RATIOS [Quarter] Mar’ 08 Mar’ 09 Int. Income as %age to avg. working funds 7. 97 8. 33 8. 04 Non Int. Income as %age to avg working funds 1. 31 1. 04 1. 56 1. 26 Int. spread as %age to avg working funds (NII/Avg. Gross Assets) 2. 63 2. 57 2. 59 2. 14 Operating Profit as %age to avg working funds 2. 02 1. 76 2. 38 1. 68 Net Interest Margin [%] [NII / Income generating assets on average basis] 2. 84 2. 91 2. 81 2. 38 Net Interest Margin [%] [NII / Income generating assets on bal. sheet date] 2. 75 2. 48 2. 85 2. 23 19

FINANCIAL RATIOS [Quarter] Mar’ 08 Mar’ 09 Mar 08 Mar 09 Earning Per Share Rs. [non-annualized] 12. 54 14. 74 3. 87 3. 14 Cost Income Ratio [%] 48. 65 51. 40 42. 69 50. 46 Cost Income Ratio [%] without wage provision 0. 00 46. 72 0. 00 45. 18 Return on Assets [%] [annualized] 1. 06 1. 02 1. 21 1. 00 Return on Equity [%] [annualized] 21. 82 22. 30 30. 99 20. 50 Profit Per Branch [in Rs. Lacs] [annualized] 33. 91 38. 88 41. 84 40. 91 Profit Per Employee [in Rs. Lacs] [annualized] 3. 61 4. 28 4. 46 4. 50 20

FINANCIAL RATIOS 31. 03. 08 Coverage Ratio [%] 31. 03. 09 3. 41 3. 01 Book Value Rs. [including Revaluation Reserve] 57. 35 69. 79 Book Value Rs. [excluding Revaluation Reserve] 49. 18 62. 06 Gross Business Per Branch [in Rs. Crore] 54. 03 66. 45 5. 76 7. 31 Gross Business per Employee [in Rs. Crore] 21

NEW INITIATIVES AND THRUST • The Bank has opened 26 new branches taking the total number of branches to 1184. The Bank is further planning to open 100 new branches during the year. • During the year 50 branches had obtained ISO 9001: 2000 certification increasing the tally of ISO certified branches to 337. • The Bank has entered into a co-branding tie up arrangement for issuance of Credit Card with State Bank of India. 22

NEW INITIATIVES AND THRUST • The Bank in its pursuit of lending to Corporate / SME is planning to open four Corporate Business Branches [CBBs] in Metro cities. • The Bank in its continuous endeavour of providing better customer service has constituted a Standing Committee on Customer Service headed by the Chairman & Managing Director. • The Bank is in the process of centralising all its back-office operations to enable branches to be more customer centric and growth oriented. 23

NEW INITIATIVES AND THRUST — Technology • Dena Garima – Bank’s Core Banking initiative gained momentum with rolling out of 498 branches during the year 2008 -2009, taking the tally to 606 branches covering 293 centers and 26 states / union territories. As on date 654 branches are under Core Banking. • All the branches of the Bank are computerized and 99. 80% of Bank’s business is conducted through technology based solutions. • A total of 387 ATMs have been installed as on 31 st March 2009 all over the country. Out of these ATMs, 284 are Onsite and 103 are Offsite covering more than 260 centers. • The Bank has launched Dena International Gold Debit Card to NHI customers with Visa affiliation. • The Bank is offering host of other techno enabled products viz. Mobile banking, Tele banking, Dena Billpay, e-payment of indirect Taxes and RTGS/ NEFT etc. 24

NEW INITIATIVES AND THRUST — Priority Lending • The Bank has tied up with Life Insurance Corporation for providing life insurance cover to tractor loan accountholders under Mortgage Redemption Insurance Scheme. • Bank has tied up with National Bulk Handling Corporation (NHBC) for providing financial assistance to farmers and others against pledge of warehouse receipts issued by NHBC. • Bank has opened Credit Counseling Center at Himatnagar, Palanpur, Mehsana, Bhuj in the state of Gujarat and Silvassa in the UT of Dadra & Nagar Haveli. • The Bank had facilitated formation of 289 new farmers club during the year taking the total no. of farmers club at 1276. Dena Singhali Farmers Club promoted by our Mahuda Branch of Kheda Dist in Gujarat has received the National Award from the Hon’ble Union Finance Minister as the best performing Farmers Club in Gujarat 25

NEW INITIATIVES AND THRUST — Human Resources Development • Recruitment process for 553 officers (including specialist officers) for the year 2008 -09 was completed in the last week of Dec’ 08. • Written Test for 1289 clerical cadre post was held on 8 th March, 2009 at 11 centers across the country. Result of the same is likely to be declared in the month of Apr/May 2009. • 1522 employees have undergone training during Jan-Mar’ 09 in various thrust areas like Credit, CBS, Retail, NPA, SME, HR etc. at both in-house through STCs/DIIT/Sir SPBTC and through outside training agencies (both in India & Abroad). • Bank ensures to provide training to all employees to update and sharpen their skills. • Bank recognises the efforts of outstanding achievers and encourages by suitable awards. 26

NEW INITIATIVES AND THRUST — Corporate Social Responsibility • The Bank has set up Rural Development & Self Employment Training Institute [RUDSETIs] at Himmat Nagar, Bhuj & Mehsana for imparting training to unemployed rural youth & women. Over 3530 rural youth/women have already been imparted training by these RUDSETIs. • The Bank is continuing to sponsor education og girl students in the villages served by the Bank under Laxmi Shiksha Protsahan Yojana and so far provided scholarships to 1603 girl students under the scheme. • Under the Agriculture Debt Waiver & Debt Relief Scheme 2008, the bank has granted debt waiver of Rs. 76. 94 crore covering 27547 farmers. Further, Bank has provided debt relief of Rs. 52. 28 crore benefitting 20212 farmers. 27

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