Financial Report 2004-05

Notes forming part of the financial results for the Quarter / Nine Months Ended 31.12.2005.

• The above finacial results have been taken on record by the Board of Directors at its meeting held on 27/01/2006. The same has been subjected to a "Limited Review" by Statutory Central Auditors as per the listing agreements.
• There has been no change in the Accounting Policies adopted during the period up to 31st December 2005 compared to those followed in the immediately preceding financial year 2004-05, other than implemnetation of Accounting Standard (AS-11) relating to the "Effect of changes in foreign exchnage" in place of FEDAI guidelines. Net loss of Rs.7.98 Crore for the quarter ended December 2005 and net loss of Rs.11.14 Crore for nine months ended December 2005 has been accounted in the books as Loss on revaluation of foreign currency assets and liabilities. Pending Reconciliaiton of Foreign Currency Nostro/Mirror accounts a provision for revaluation of Rs.44.09 crores has been made during the quarter ended 31.12.05.
• Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter office adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments (including interse the Bank's Overseas Branches and those with Position Maintaining Offices in India), Dividend / Interest / Refund Orders Paid / Payable etc. is in progress.
• The financial results for the quarter / nine months ended 31.12.05 have been arrived at after considering provisions for Non Performing Assets, Standard Assets and depreciation on Investments on the basis of prudential norms issued by RBI. Provision for taxes (including deferred tax and fringe benefit tax) and contingencies including for retirement benefits viz., gratuity, pension, leave encashment benefit of employees etc., have been considered on estimated basis.
• In terms of RBI Guidelines, the bank has, during the quarter ended June 05, transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category. The resultant depreciation of Rs.259.98 crores has been charged to the Profit and Loss A/c.
• Provisions and contingenices for the quarter under review has been arrived at after writing back a sum of Rs.72.93 Crores from its existing provisions against non performing assets which were in excess of the regulatory requirement. The balance of floating provisions as at 31.12.2005 stands at Rs. 390.50 Crore.
• In terms of RBI's letter dated 20.12.2005, the bank has accounted for Rs.42.49 Crore pertaining to the net credit balances of entries originated in Inter Branch account upto 31st March 1999 as Miscellaneous Income. The same would be appropriated to General Reserve and Statutory Reserves.
• Status of Investor's complaints:

  Pending at the beginning of the quarter	Nil
  Received during the quarter	86
  Disposed off during the quarter	86
  Pending at the close of the quarter	Nil

Segment Reporting For The Quarter / Half Year Ended 31.12.2005

Part A - Business Segments

Part B - Geographic Segments

Notes on Segment Reporting

• As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
• In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
• Segment revenue represents revenue from external customers.

Place :Mumbai
Date :27.01.2006

Notes forming part of the financial results for the Quarter / Half Year Ended 30.09.2005.

• The above results have been taken on record by the Board at its meeting held on 28-10-2005. The same has been subjected to Limited Review by Statutory Central Auditors.
• The working results for the quarter / half year ended 30.09.05 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI.Provision for taxes (including deferred tax) and contingencies including for retirement benefits viz., gratuity, pension, leave encashment benefit of employees etc., have been considered on estimated basis.
• The bank has revised its Accounting Policy on Accounting for effect on changes in Foreign Currencies as per AS 11 issued by the Institute of Chartered Accountants of India. Net gain of Rs.1.25 crores for quarter ended Sept. 05 and net loss of Rs.3.18 crores for Half Year ended Sept. '05 has been accounted in the books as Gain / Loss on revaluation of foreign currency assets and Liabilities.
• In terms of RBI Guidelines, the bank has, during the quarter ended June 05, transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category. The resultant depreciation of Rs.259.98 crores has been charged to the Profit and Loss A/c .
• Status of Investor's complaints:

  Pending at the beginning of the quarter	Nil
  Received during the quarter	58
  Disposed off during the quarter	58
  Pending at the close of the quarter	Nil

Segment Reporting For The Quarter / Half Year Ended 30.09.2005

Part A - Business Segments

Part- B : Geographic Segments

Notes on Segment Reporting

• As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
• In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
• Segment revenue represents revenue from external customers.

Place: Mumbai
Date: 28.10.2005

Notes forming part of the financial results for the Quarter Ended 30.06.2005.

• The above results have been taken record by the Board at its meeting held on 28.07.2006.
• Working results for the quarter ended 30 06.05 Mare teen arrived at after considering provision (or NPA's Standard Assets and depreciation on Investments on the basis of prudential

norms issued by RBI.

Provision for taxes (including deferred tax) and contingencies including gratuity, pension, leaves encashment benefit of employees etc., have been considered on estimated basis.

• During the quarter, the bank has revised its Accounting Policies on Accounting for effect on changes in Foreign Currencies as pe r AS 11 issued by the Institute of Chartered Accountants of
India and the net loss of Rs. 4.42 crores has been accounted in the books as Loss on revaluation of foreign currency assets and Liabilites.
• In terms of RBI Guidelines, the bank has during the quarter transferred a portion of Govt. Securities (SLR) kept In 'Available e for Sale 1 category to 'Held to Maturity 1 category. The resultant depreciation of Rs. 259.98 crores has been charged to the Profit and Loss A/C.

Status of investor 1 * complaints.

• Pending at the beginning of the quarter Nil
• Received during the quarter 35
• Disposed off during the quarter 35
• Pending at the close of the charter Nil

Segment Reporting For The Quarter Ended 30th June 2005

Part A - Business Segments

Part B - Geographic Segments

Notes on Segment Reporting:

As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted “Treasury Operations” and “Other Banking Operations” as primary business segments and “Domestic” and “International” as Secondary/geographic segments for the purpose of compliance with AS-17 Segment Reporting issued by ICAI.

In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.

Segment revenue represents revenue from external customers.

Place: Mumbai
Date: 28/07/2005