1. During the quarter, the Bank has granted 20.42 lakh options including 1.10 lakh options granted to directors which are subject to regulatory approval. 1.95 lakh options were exercised by the employees during the quarter and the stock options outstanding with employees of the Bank and its subsidiaries as at March 31, 2009 are 118.57 lakh.

2. Provision for taxes (net of deferred tax) includes fringe benefit tax provision amounting to Rs.140 lakhs for the quarter ended March 31, 2009 (Rs.150 lakhs for the quarter ended March 31, 2008) and Rs.570 lakhs for the year ended March 31, 2009 (Rs.550 Lakhs for the year ended March 31, 2008).

3. The Bank has adopted Basel II framework as of March 31, 2009 and the Capital Adequacy Ratio (CAR) computed as per Basel II guidelines is 20.01% as against regulatory minimum of 10%. Tier I CAR is 16.13% as on March 31, 2009.

4. Loans restructured and considered as standard as at March 31, 2009 were Rs 5,587 lakhs.

5. Provisions and contingencies are net of recoveries made against accounts which have been written off as bad in the previous period/ year.

6. Figures for the previous period/year have been regrouped wherever necessary to conform to current period’s presentation.

7. The Bank has declared a dividend of Rs. 0.75 per share (previous year Rs. 0.75 per share) for the year ended March 31, 2009.The Bank is obliged to pay dividend to these shareholders whose names are appearing in the register of members as on the book closure date. The dividend will be paid after the approval of shareholders at the Annual General Meeting.

8. The above results were taken on record at the Audit Committee meeting and at the meeting of the Board of Directors held on May 12, 2009.

Dipak Gupta
Executive Director