Financial Analysts to the Presentation on Dena Bank’s

Financial Analyststo thePresentation onDena Bank’s

Quarterly / Half Yearly Results – September 2006

2

FinanciaFinancialsls

[Amt. in Crore]

2005-06

[H1]

2006-07[H1]

Growth [%]

2005-06[Q2]

2006-07[Q2]

Growth [%]

Total Income1031.

951154.4

411.87

514..37

607.57 18.12

Total Expenses

789.91

897.11 13.57 396.40 467.42 17.92

Operating Profit[excl. Profit on sale on Inv.]

184.72

233.73 26.53 97.47 129.5620.31

%

Operating Profit[incl. Profit on sale on Inv.]

242.04

257.33 6.32 117.97 140.15 18.80

Provisions & Contingencies

402.64

152.13[62.22

]79.22 54.75

[30.89]

Provision for Taxes

[19.94] 17.96 [9.89] 16.65

Net Profit [140.66] 87.24 48.64 68.75

3

Profit & Profit & LossLoss

[Amt. in Crore]2005-06

[H1]2006-07

[H1]

Growth

[%]

2005-06[Q2]

2006-07[Q2]

Growth [%]

Total Income 1031.951154.4

411.87 514.37 607.57 18.12

Interest Income

870.771003.8

915.29 430.91 526.49 22.18

- Advances 484.17 638.35 31.84 246.30 341.76 38.76

- Investment 365.88 326.85[10.6

7]170.76 163.23 [4.41]

- Others 20.72 38.69 86.73 13.85 21.50 55.23

Non Interest income

161.18 150.55 [6.60] 83.46 81.08 [2.86]

- Profit on sale of securities

57.32 23.60[58.3

3]20.50 10.59 [48.34]

-Others 103.86 126.95 22.23 62.96 70.49 11.95

4

Profit & Profit & LossLoss

[Amt. in Crore]2005-06

[H1]

2006-07

[H1]

Growth[%]

2005-06[Q2]

2006-07

[Q2]

Variation

[%]

Total Expenses 789.91 897.11 13.57 396.40 467.42 17.92

Interest Expenses

512.10 591.23 15.45 261.29 311.43 19.19

- Deposits 481.35 562.48 16.85 246.01 297.24 20.82

- Others 30.75 28.75 [6.50] 15.28 14.19 [7.13]

Operating Expenses

277.81 305.88 10.10 135.11 155.99 15.45

- Staff related 177.37 198.09 11.68 83.74 99.85 19.24

- Others 100.44 107.79 7.31 51.37 56.14 9.29

Net Interest Income

358.67 412.66 15.05 169.62 215.06 26.80

Operating Profit 242.04 257.33 6.32 117.97 140.15 18.80


402.64 152.13 [62.22] 79.22 54.75 [30.89]

Prov. for Taxes [19.94] 17.96 [9.89] 16.65

Net Profit [140.66] 87.24 48.64 68.75 41.34

5

Profit & Loss [Non Interest Profit & Loss [Non Interest Income]Income]

[Amt. in Crore]2005-

06[H1]

2006-07

[H1]

Variation

[%]

2005-06

[Q2]

2006-07

[Q2]

Variation

[%]

Profit on sale of Inv

57.32 23.60 [58.83] 20.50 10.59 [48.34]

Commission Income

40.73 49.78 22.22 19.84 25.32 27.62

Exchange earned on Forex

11.20 11.34 1.25 6.69 5.75 [14.05]

Process Fee 9.89 11.66 17.90 5.92 7.88 33.11

Other Income 13.85 17.94 29.53 9.13 12.69 38.84

Recovery in w/off Inv.

0.00 0.95 0.00 0.00 0.94

Recovery in w/off A/c

28.19 35.28 25.15 21.38 17.91 [16.23]

TOTAL 161.18 150.55 83.46 81.08

6

Profit & LossProfit & Loss

[Amt. in Crore]2005-

06[H1]

2006-07

[H1]

Variation

[%]

2005-06

[Q2]

2006-07

[Q2]

Variation

[%]

Interest Earned 870.771003.8

915.29 430.91 526.49 22.18

Interest Expended

512.10 591.23 15.45 261.29 311.43 19.19

Net Interest Income

358.67 412.66 15.05 169.62 215.06 26.80

Non Interest Income

161.18 150.55 [6.60] 83.46 81.08 [2.86]

Operating Expenses

277.81 305.88 10.10 135.11 155.99 15.45

Burden [116.63][155.33

]33.18 [51.65] [74.91] 45.06

Operating Profit 242.04 257.33 6.32 117.97 140.15 18.80


382.70 170.09 [62.22] 69.33 71.40 [30.89]

Net Profit [140.66] 87.24 48.64 68.75 41.34

7

[Amt. in Crore]F.Y.

05-062005-06

[H1]2006-07

[H1]2005-06

[Q2]2006-07

[Q2]

Provision for NPAs 236.92 149.66 78.00 54.72 34.34

Provision for Taxes [23.29] [19.94] 17.96 [9.89] 16.65

Prov for Depreciation on Investments

270.69 227.86 52.93 14.66 5.12

Prov for Standard Assets/Restructed Assets

42.92 18.15 8.20 6.02 9.75

Amortisation of premium paid on Investment

19.96 9.96 14.51 4.98 7.26

Contingent Liabilities

[1.45] [1.94] [1.00] 0.00 [1.14]

Others [0.25] [1.05] [0.51] [1.15] [0.58]

TOTAL PROVISIONS 547.33 382.70 170.09 69.33 71.40

Provisions & Provisions & ContingenciesContingencies

8

Resource Resource MobilisationMobilisation

[Amt. in Crore]

Sept ’05 Mar ’06 Sept ’06Growth [%][Sept - 05-

06]

Growth[%]

[Sept 04-05]

Current Deposits

2298 2380 2587 12.58 16.59

Savings Deposits

7258 7931 8320 14.63 15.91

Term Deposits 12573 13312 14258 13.40 4.66

TOTAL 22129 23623 25165 13.71 9.47

Share of DemandDeposits in total

43.18% 43.65% 43.34%

Borrowings 303.64 0.99 73.90

9

Credit DeploymentCredit Deployment

[Amt. in Crore] Sept ’05

Mar ’06 Sept ’06Growth [%]

05-06Y-on-Y

Growth [%]04-05Y-on-Y

GROSS ADVANCES12777.3

314747.79 16393.58 28.30 23.67

Priority Sector Adv

5484 6073 7074 29.00 32.88

— Agriculture 2187 2362 276926.61

23.21

— S.S.I. 1380 1322 1407 1.96 21.27

— Others 1917 2389 2871 46.95 57.91

PS Advances to Net Bank Credit %

44.00 42.19 44.09

Retail Credit 1816 2249 2783 53.25

S.M.E. 2146 2388 2801 30.52

C.D. Ratio [%] 59.79 62.43 65.14

10

Resource MobilisationResource Mobilisation

22129

23623

25165

20000

21000

22000

23000

24000

25000

26000

Sept '05 Mar '06 Sept '06

Deposits

7258 7931 8320

2298 2380 2587

12573 13312 14258

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Sep '05 Mar '06 Sep '06

Term

Current

Savings

11

Funds Funds DeploymentDeployment

[Amt. in Crore]

Sept ’05 Mar ’06 Sept ’06Growth [%]

Y-on-Y

Net Advances 12151.56 14231.24 15909.47 30.93

Net Investments

9367.28 8570.67 9336.60 [0.33]

12152

14231

15909

0

4000

8000

12000

16000


Net Advances

9367.28

8570.67

9336.6

8000

8200

8400

8600

8800

9000

9200

9400


Net Investments

12

Capital Capital AdequacyAdequacy

[Amt. in Crore] Sept ’05 Mar ’06 Sept ’06

Eligible Tier I 566.51 848.20 938.05

Eligible Tier II 514.04 662.95 938.05

Eligible Total 1080.55 1511.15 1876.10

Total RWAs 11636.48 14225.29 15620.25

Core CRAR – Tier I 5.96 5.96 6.01

CRAR on Tier II 3.33 4.66 6.00

CRAR [Total] 9.29 10.62 12.01

Net Worth 566.51 848.20 938.05

13

Asset Asset Quality Quality

[Amt. in Crore]Sept ’05[Q2]

Sept ’06[Q2]

Mar ’06

[F.Y]

Sept ’05[H1]

Sept ’06[H1]

GROSS NPA

Opening Balance 1149.30 974.911147.5

41147.54 949.40

Less :

Cash Recovery & credit operations

52.00 57.94 227.95 95.45 89.43

Upgradations 4.39 5.27 31.41 12.09 12.54

Write-off 37.07 31.38 273.62 75.07 98.16

Total Reductions 93.46 94.59 532.11 182.61 200.13

Add :

Slippage & Debit Op.

46.35 63.93 333.97 137.26 194.98

Closing Balance 1102.19 944.25 949.40 1102.19 944.25

14

Asset Asset QualityQuality

[Amt. in Crore]Sep ’05

Mar ’06

Sep ’06

NPA PROVISION

Opening Balance

593.11

536.17

476.34

— Additions 54.72236.9

134.34

— Reductions 37.07273.6

231.38

Closing Balance

610.76

499.46

479.30

GNPA to GA [%] 8.63 6.44 5.76

NNPA to NA [%]

3.92 3.04 2.89

Provision cover[%]

55.41 52.61 50.76

5.76

2.89

8.63

6.44

3.04

3.92

0

1

2

3

4

5

6

7

8

9

10


GNPA to GA NNPA to NA

15

Financial Ratios Financial Ratios [cost/yield][cost/yield]

Mar ’06[FY]

Sept ’05[HY]

Sept ’06[HY]

Sept ’05[Q2]

Sept ’06[Q2]

Cost of Deposits [%]

4.58 4.61 4.80 4.65 4.93

Cost of Funds [%] 4.66 4.67 4.89 4.71 4.99

Yield on Advances [%]

7.80 8.16 8.38 8.22 8.71

Yield on Investments with POSOI [%]

9.19 9.06 8.11 8.30 8.11

Yield on Investments without POSOI [%]

7.82 7.84 7.57 7.41 7.63

Yield on Funds [%] 7.46 7.57 7.76 7.51 7.95

16

Financial RatiosFinancial RatiosMar ’06

[FY]Sept ’05

[HY]Sept ’06

[HY]Sept ’05

[Q2]Sept ’06

[Q2]

Intt Income as % age to avg working funds

6.62 7.11 7.42 6.97 7.61

Non Intt Income as %age to avg working funds

2.39 1.32 1.11 1.35 1.17

Interest spread as %age to avg working funds

2.88 2.93 3.05 2.74 3.11

Operating Profit as %age to avg working funds

2.70 1.98 1.90 1.91 2.03

Net Interest Margin [%][NII / interest bearing assets on last day]

2.95 2.97 3.19 2.81 3.33

17

Financial RatiosFinancial Ratios

Mar ’06[FY]

Sept ’05[HY]

Sept ’06[HY]

Sept ’05[Q2]

Sept ’06[Q2]

Earning Per Share [non-annualised] [Rs.]

2.54 [4.90] 3.04 1.70 2.40

Cost Income Ratio [%] 47.50 53.44 54.31 53.39 52.67

Coverage Ratio [%] 1.56 0.35 1.66

Book Value [incl. Reval Reserve] [in Rs.]

39.11 23.45 41.83 23.45 41.83

Book Value [excl.Reval Res.] [in Rs.]

29.57 19.77 32.71 19.77 32.71

Return on Assets [%] [annualised]

0.29 -ve 0.64 0.76 0.99

Return on Networth [%] [annualised]

9.02 -ve 19.75 31.94 30.52

18

Productivity Productivity RatiosRatios

Sept ’05{Q]

Mar ’06[F.Y]

Sept ’06[Q]

Business Per Branch [in Rs. Crs] 34.12 37.51 40.62

Business Per Employee [in Rs. Crs] 3.41 3.78 4.15

Profit Per Branch [in Rs. Lacs] [not annualised]

4.73 7.13 6.72

Profit Per Employee [in Rs. Lacs] [not annualised]

0.47 0.72 0.69

34.12 37.5140.62

-8

2

12

22

32

42


Business Per Branch

3.41 3.784.15

0

1.25

2.5

3.75


Business Per Employee

19

Thank youThank you

Documents

Financial Analysts to the Presentation on Dena Bank’s