PUNJAB & SIND BANK

Head Office: 21, Rajendra Place, New Delhi 110 008

Audited Financial Results
For the Half Year ended 30th September, 2010
(Rupees in Lacs)
YEAR
HALF YEAR ENDED ENDED
Sl.
No Particulars 30.09.2010 30.09.2009 31.03.2010
(Audited) (Reviewed) (Audited)

1 INTEREST EARNED (a+b+c+d) 230662 187023 393418

a) Interest/ discount on advances/bills 165180 131507 275370
b) Income on Investments 62668 52136 109508
c) Interest on Balances with RBI & Other Inter Bank Funds 987 3150 6613
d) Others 1827 230 1927
2 Other Income 22495 18735 41181
A. TOTAL INCOME (1+2) 253157 205758 434599
3 Interest Expended 152602 134213 275023
4 Operating Expenses (e+f) 51413 35700 71819
e) Employees Cost 40367 26851 52964
f) Other Operating Expenses 11046 8849 18855
B. TOTAL EXPENDITURE (3+4) (excluding Provisions & Contingencies) 204015 169913 346842
C. Operating Profit before Provisions & Contingencies (A-B) 49142 35845 87757
D. Provisions (Other than tax) & Contingencies 11291 8884 21111
- of which provisions for Non-Performing Assets 8176 4819 9192
E. Exceptional items 0 0 0
F. Profit(+) / Loss(-) from Ordinary Actvities before tax (C-D-E) 37851 26961 66646
G. Tax Expense 11791 3456 15766
H. Net Profit(+) / Loss(-) from Ordinary Actvities after tax (F-G) 26060 23505 50880
I. Extra Ordinary items (Net of Tax) 0 0 0
J. Net Profit(+) / Loss(-) for the period (H-J) 26060 23505 50880
5 Paid-up Equity Share Capital 18306 18306 18306
6 Reserves excluding Revaluation Reserve 2006.91 1487.44 1746.31
(as per Balance Sheet of previous accounting year)
7 Analytical Ratios
(I). Percentage of shares held by Government of India 100 100 100
(ii) Capital Adequacy Ratio: Basel-I 11.84 12.65 11.74
Basel-II 13.04 14.89 13.10
(iii) Earning per share (Rs.) (Not Annualised) 14.24 12.84 26.98
(iv) (a) Amount of Gross Non Performing Assets 33143 26295 20615
(b) Amount of Net Non Performing Assets 15590 12560 11663
(c) % of Gross NPAs 0.92 1.01 0.63
(b) % of Net NPAs 0.44 0.49 0.36
(v) Return on Assets (Annualised) 0.93 1.03 1.05
Notes:

1. Accounting Policies followed in preparation of these financial results are same as followed in the annual financial
statements for the year ended 31st March 2010.
2. The above financial results have been arrived at after considering provisions for Non-Performing Assets, Standard
Assets, applicable Taxes, Amortization of premium relating to Investment under ‘Held to Maturity’ category,
Depreciation on Investments and Fixed Assets, Diminution in respect of Restructured Accounts and other usual
and necessary provisions.
3. In terms of the Revised Accounting Standards AS-15 issued by The Institute of Chartered Accountants of India
(ICAI) provision has been made for Employees Benefits viz Pension, Gratuity, Leave Encashment, LFC/LTC,
Sick Leave etc on estimated and proportionate basis.

4. An amount of Rs.11.56 Crore, being the proportionate sum for the half year towards the total additional gratuity
funds requirement of Rs.115.61 crore as per actuarial valuation arising on account of amendment made to
Payment of Gratuity Act -1972 has been provided pending receipt of approval for bank’s request for amortization
over a period of five years. Changes, if any, as per instructions of Regulatory Authority will be carried out in the
current year.

5. Option has been offered to Provident Fund Optees to switch over to Pension Scheme under the Bipartite
Settlement dated 27.04.2010. As the offer is open till 30th October 2010 for existing employees and 29th
November 2010 for retired employees, the impact of the same can be crystallized only after the closure. Hence,
the required provision will be made on closure of the offer period and as per Regulatory / Accounting guidelines.

6. The Government of India has notified Agriculture Debt Waiver & Debt Relief Scheme-2008 for giving Debt
Waiver to Marginal and Small farmers and debt relief to other farmers who have availed Direct Agricultural
Loans. Final Claim in respect of Agriculture Debt Waiver Scheme amounting to Rs.47.72 Crores has been lodged
with the Reserve Bank of India, being the amount waived after due verification by the Statutory Central Auditors
of the Bank, out of which Rs.31.23 Crores has been received. The claims amounting to Rs.14.13 crore in respect
of accounts settled under Agriculture Debt Relief Scheme till 31.12.2009 has been lodged with Reserve Bank of
India. The Debt Relief claims amounting to Rs.2.25 crore settled during the period from 01.01.2010 to
30.06.2010 are subject to certification by Statutory Central Auditors.

7. The above results have been approved by the Board of Directors in the meeting held on 28th October, 2010.

Place: New Delhi (P.K. ANAND )

Dated: 28.10.2010 EXECUTIVE DIRECTOR