1. A udited F inancial R esults for the year ended 31st March 2009

2. 2 KEY INDICATORS [Rs. Crore] F.Y. Growth[%] Quarter Growth[%] 2007-082008-09Mar’08Mar’09 Total income3154.023877.6222.94882.981035.8317.31 Total expenses2467.583151.2627.71664.05848.0727.71 Operating Profit686.44726.365.82218.93187.76[14.24] Exceptional items Profit on sale of properties 29.950.0029.950.00 Provision for wage revision 0.0070.000.0020.00 Business Operating Profit 656.49796.3621.30188.98207.779.95 Provisions326.65303.70[7.03]107.9476.60[29.03]

3. 3 KEY INDICATORS [Rs. Crore] F.Y. Growth[%] Quarter Growth[%] 2007-082008-09Mar’08Mar’09 Net Profit359.79422.6617.47110.99111.170.15% Business Net Profit [excl. exceptional items] 329.84492.6649.3681.04131.1761.86 EPS [Rs.] [non annualized] 12.5414.743.873.88 Return on Assets [Annualized] - % 1.061.021.211.00

4. 4 KEY INDICATORS [Rs. Crore]31.03.0831.03.09 % Growth over Mar 08 Aggregate Deposits32232.3941405.1228.46 Inter Bank Deposits1710.791645.49[3.82] Total Deposits33943.1843050.6126.83 Gross Advances23381.1629185.3624.82 Investments10334.9812538.3221.32 Gross NPA Ratio [%]2.452.13 Net NPA Ratio [%]0.941.09 CRAR [%] Basel I11.0910.73 CRAR [%] Basel IIN.A12.07

5. 5 NET INTEREST INCOME [Rs. Crore] Growth [%] Quarter Growth [%] 2007-082008-09Mar ’ 08Mar ’ 09 Interest Income2675.903447.5028.84730.24895.7922.67 Advances1953.372565.9831.36545.22668.2422.56 Investment691.90828.1319.69176.67220.0424.55 Inter Bank19.9217.20[13.65]2.344.5594.44 Others10.7136.19237.916.012.96[50.75] Interest Expense1817.142383.0731.14500.99656.8331.11 Deposits1718.112255.9031.30471.35624.1432.42 Others99.03127.1728.4229.6432.6910.29 Net Interest income [NII] 858.761064.4323.95229.25238.964.24

6. 6 NON INTEREST INCOME [Rs. Crore] Growth [%] Quarter Growth [%] 2007-082008-09Mar 08Mar 09 Commission120.94132.319.4034.6937.538.19 Profit from Securities90.0254.32[39.66]8.4822.01159.55 Profit from sale of Properties / F&F 29.950.0030.24[0.62] Forex Exchange42.0343.864.357.489.5828.07 Process fee30.1039.5131.2611.2416.4346.17 Incidental charges11.3826.09129.263.6921.78490.24 Recovery in written off advances 114.29100.24[12.29]43.2327.54[36.29] Other Misc.39.4133.80[14.23]13.695.79[57.70] Total non interest income478.12430.13[10.04]152.74140.04[8.31]

7. 7 OPERATING EXPENSES [Rs. Crore] Growth [%] Quarter Growth [%] 2007-082008-09Mar 08Mar 09 Staff Expenses370.85467.8926.1785.77116.6936.05 Insurance33.7538.4713.998.539.9817.00 Postage/Telephone9.3112.8838.352.233.7065.92 Printing/Stationery10.349.94[3.87]2.611.80[0.81] Depreciation29.4526.84[8.86]8.266.49[21.43] Lighting19.3921.038.464.084.6313.48 Rent & Taxes36.9547.8229.4210.4513.2526.79 Advertising9.4711.2118.374.393.40[22.55] Auditors Fees7.647.45[2.49]2.332.32[0.43] Repairs/Maintenance19.1319.310.944.712.76[41.40] Core Banking Solution35.6533.06[7.27]10.006.50[35.00] Other Expenses68.5172.295.519.7019.710.01 Total Expenses650.44768.1918.10163.06191.2317.28

8. 8 PROVISION & CONTINGENCIES [Rs. Crore] Quarter Mar 08Mar 09Mar 08Mar 09 Non Performing Loans264.00199.44127.1239.88 Tax expense[42.17]118.77[128.33]25.24 Investment Depreciation27.5821.0530.1512.83 Standard Assets78.18[54.78]78.16[1.65] Other provisions[0.94]19.230.840.30 Total Provisions326.65303.70107.9476.60

9. 9 RESOURCES [Rs. Crore]31.03.0831.03.09% growth Current Deposits3015.973496.9715.95 Savings Deposits10239.1911395.5811.29 Term Deposits18977.2326512.5739.71 Aggregate Deposits32232.3941405.1228.46 CASA [%]41.1335.97 Inter Bank Deposits1710.791645.49[3.82] TOTAL DEPOSITS33943.1843050.6126.83 Borrowing394.6152.13[86.79]

10. 10 RESOURCES

11. 11 DEPLOYMENT [Rs. Crore]31.03.0831.03.09 Growth over Mar 08 Gross Advances233812918524.82 Priority Sec. Advance8096971520.00 Agriculture2794385137.83 Others5302586410.60 PS credit to NBC [%]43.3241.55 Retail Credit429444243.03 S.M.E3885477522.91 CD Ratio [%]68.8867.82 Gross investment103351253821.32

12. 12 TREASURY [Rs. Crore]31.03.0831.03.09 Growth over Mar 08 SLR Investments8595.3110075.8017.22 Non-SLR Investments1739.672462.5241.55 Total Investments10334.9812538.3221.32 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] 3.392.86 Portfolio Duration [modified]4.764.74

13. 13 DEPLOYMENT [Rs. Crore]Mar 08Mar 09 Growth [%] [y on y] Net Advances230242887825.43 Net Investments102831247321.30

14. 14 CAPITAL ADEQUACY [Rs. Crore]31.03.0831.03.09 Tier I capital1535.551780.97 Tier II capital986.381398.53 Total capital funds2521.933179.50 Total RWAs22742.2529645.48 CRAR – Basel IIN.A12.07 CRAR Core – Basel IIN.A.6.76 CRAR – Basel I11.0910.73 CRAR Core – Basel I6.756.01 Net Worth1410.551637.00

15. 15 ASSET QUALITY [Rs. Crore]31.03.0831.03.09 Gross NPA572.60620.77 Net NPA215.43313.38 Gross NPA Ratio [%]2.452.13 Net NPA Ratio [%]0.941.09 NPA Provision347.62299.65 Provision coverage60.7148.27

16. 16 ASSET QUALITY

17. 17 ASSET QUALITY [Rs. Crore] Mar 08 [FY] Mar 09 [FY] Variation [%] Gross NPA Opening Balance744.48572.60 Less: Cash recoveries184.86188.722.09 Upgradations114.07191.3867.77 Write off288.96247.44[14.37] Total Reductions587.89627.546.74 Add: Slippage & Debit Operations416.01675.7162.43 Closing Balance572.60620.77

18. 18 FINANCIAL RATIOS [cost/yield] [Quarter] Mar’08Mar’09Mar’08Mar’09 Cost of Deposits [%]5.906.366.086.56 Cost of Funds [%]5.956.476.136.64 Yield on Advances [%]10.1110.7110.0810.51 Yield on Investments with POSOI [%] 7.747.507.587.59 Yield on Investments without POSOI [%] 6.887.047.266.91 Yield on Funds [%]8.228.768.358.36

19. 19 FINANCIAL RATIOS [Quarter] Mar’08Mar’09Mar’08Mar’09 Int. Income as %age to avg. working funds 7.978.338.04 Non Int. Income as %age to avg working funds 1.311.041.561.26 Int. spread as %age to avg working funds (NII/Avg. Gross Assets) 2.632.572.592.14 Operating Profit as %age to avg working funds 2.021.762.381.68 Net Interest Margin [%] [NII / Income generating assets on average basis] 2.842.912.812.38 Net Interest Margin [%] [NII / Income generating assets on bal. sheet date] 2.752.482.852.23

20. 20 FINANCIAL RATIOS [Quarter] Mar’08Mar’09Mar08Mar09 Earning Per Share Rs. [non-annualized] 12.5414.743.873.14 Cost Income Ratio [%]48.6551.4042.6950.46 Cost Income Ratio [%] without wage provision 0.0046.720.0045.18 Return on Assets [%] [annualized] 1.061.021.211.00 Return on Equity [%] [annualized] 21.8222.3030.9920.50 Profit Per Branch [in Rs. Lacs] [annualized] 33.9138.8841.8440.91 Profit Per Employee [in Rs. Lacs] [annualized] 3.614.284.464.50

21. 21 FINANCIAL RATIOS 31.03.0831.03.09 Coverage Ratio [%]3.413.01 Book Value Rs. [including Revaluation Reserve] 57.3569.79 Book Value Rs. [excluding Revaluation Reserve] 49.1862.06 Gross Business Per Branch [in Rs. Crore] 54.0366.45 Gross Business per Employee [in Rs. Crore] 5.767.31

22. 22 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. NEW INITIATIVES AND THRUST

23. 23 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. NEW INITIATIVES AND THRUST

24. 24 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 31st 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.

25. 25 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 NEW INITIATIVES AND THRUST — Priority Lending

26. 26 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 8th 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. NEW INITIATIVES AND THRUST — Human Resources Development

27. 27 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. NEW INITIATIVES AND THRUST — Corporate Social Responsibility

28. 28