Annual Report

DIRECTORS REPORT (Rs. crores) For the year cease March 31, 2006 March 31, 2005 Deposits and other borrowings 58,655.3 41,144.3 Advances 35,061.3 25,566.3 count income 5,599.3 3,744.8 gain before depreciation and tax 1,432.1 1,123.0 Net profit 870.8 665.6 kale brought forward 602.3 405.3 Transfer from Investment Fluctuation Reserve 484.2 - Total profit available for appropriation 1,957.3 1,070.9 Appropriations: Transfer to statutory admit 217.7 166.4 Transfer to general withstand 87.1 66.6 Transfer to capital reserve 1.1 0.6 Transfer to investment fluctuation reserve - 75.0 Proposed dividend 172.2 140.1 Tax including primp and education cess on dividend 24.2 19.6 Education cess on dividend paid for anterior year - 0.3 Balance carried over to Balance Sheet 1,455.0 602.3 pecuniary PERFORMANCE To the Members, Your Directors have great pleasure in presenting the Twelfth Annual continue on the business and operations of your Bank together with the audited accounts for the year ended March 31, 2006. The Bank posted total income and net profit of Rs. 5,599.3 crores and Rs. 870.8 crores independently for the financial year 2005-06 as against Rs. 3,744.8 crores and Rs. 665.6 crores respectively in the foregoing year.

Appropriations from the net profit have been effected as per the table habituated above. DIVIDEND Your Banks dividend policy is based on the need to balance wheel the twin objectives of appropriately rewarding shareholders with cash dividends and of retaining capital to maintain a healthy capital adequacy ratio to support future growth. In line with this policy and in recognition of the healthy performance during 2005-06, your directors are pleased to commend a dividend of 55% for the year ended March 31, 2006 as against 45% for the year ended March 31, 2005, which included a limited one-time dividend of 5% in recognition of the Bank having completed 10 years. This dividend 1 DIRECTORS REPORT (Contd.) shall be subject... If you want to get a just essay, order it on our website: Ordercustompaper.com

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