Financial Results 2009-2010

 AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2010  

 [Rs in Lakhs]                    

* Not annualised

Notes:

1. The above audited financial results for the year ended March 31, 2010 reviewed by the Audit Committee of the Board have been taken on record by the Board of Directors at their meeting held on April 30, 2010.

2. The Board of Directors has recommended a dividend of Rs. 4 per share (40%) for the year ended 31st March 2010 (previous year Rs. 3 per share (30%)), subject to the approval of the members at the ensuing Annual General Meeting.

3. The working results have been arrived at after considering provisions for Gratuity, Pension, Leave Encashment and other retirement benefits based on acturial valuation in terms of AS-15, provision for NPAs and amortisation on investments as per RBI guidelines, provision for wage revision on an estimated basis and provision for taxes.

4. The Bank had granted 30,72,500 options on November 21, 2009 equivalent to same number of Equity Shares to its employees under Employee Stock Option Scheme 2008 and appropriate adjustments have been made in the employee cost for the discount allowed.

5. The bank had issued 9.75% unsecured, redeemable, non-convertible subordinated Lower Tier II Bonds with a tenure of 128 months in the nature of promissory notes, for an aggregate amount of Rs. 200 Crore during the year by private placement.

6. Details of Investor complaints:

7. In terms of RBI Circular DBOD No. BP. BC. 64/ 21.04.048/ 2009-10 dated December 1, 2009, our NPA Provision Coverage Ratio is 70.82 % as against 70% prescribed by RBI to be achieved by September 30, 2010.

8. Previous period's/year's figures have been regrouped, wherever necessary to conform to the current period's classification.

Segmentwise Results

[Rs in Lakhs]

By order of the Board

 DR. V. A. JOSEPH
(MD & CEO)

Thrissur
April 30, 2010