1. Financial Analysts to the Presentation on Dena Bank’s Quarterly / Half Yearly Results – September 2006

2. 2 Financial s [Amt. in Crore] 2005-06 [H1] 2006-07 [H1] Growth [%] 2005-06 [Q2] 2006-07 [Q2] Growth [%] Total Income1031.951154.4411.87514..37607.5718.12 Total Expenses789.91897.1113.57396.40467.4217.92 Operating Profit [excl. Profit on sale on Inv.] 184.72233.7326.5397.47129.5620.31% Operating Profit [incl. Profit on sale on Inv.] 242.04257.336.32117.97140.1518.80 Provisions & Contingencies 402.64152.13[62.22]79.2254.75[30.89] Provision for Taxes [19.94]17.96[9.89]16.65 Net Profit [140.66] 87.2448.6468.75

3. 3 Profit & Loss [Amt. in Crore] 2005-06 [H1] 2006-07 [H1] Growt h [%] 2005-06 [Q2] 2006-07 [Q2] Growth [%] Total Income1031.951154.4411.87514.37607.5718.12 Interest Income870.771003.8915.29430.91526.4922.18 - Advances484.17638.3531.84246.30341.7638.76 - Investment365.88326.85[10.67]170.76163.23[4.41] - Others20.7238.6986.7313.8521.5055.23 Non Interest income 161.18150.55[6.60]83.4681.08[2.86] - Profit on sale of securities 57.3223.60[58.33]20.5010.59[48.34] -Others103.86126.9522.2362.9670.4911.95

4. 4 Profit & Loss [Amt. in Crore] 2005-06 [H1] 2006-07 [H1] Growth [%] 2005-06 [Q2] 2006-07 [Q2] Variation [%] Total Expenses789.91897.1113.57396.40467.4217.92 Interest Expenses512.10591.2315.45261.29311.4319.19 - Deposits481.35562.4816.85246.01297.2420.82 - Others30.7528.75[6.50]15.2814.19[7.13] Operating Expenses277.81305.8810.10135.11155.9915.45 - Staff related177.37198.0911.6883.7499.8519.24 - Others100.44107.797.3151.3756.149.29 Net Interest Income358.67412.6615.05169.62215.0626.80 Operating Profit242.04257.336.32117.97140.1518.80 Provisions & Contingencies 402.64152.13[62.22]79.2254.75[30.89] Prov. for Taxes[19.94]17.96[9.89]16.65 Net Profit[140.66]87.2448.6468.7541.34

5. 5 Profit & Loss [Non Interest Income] [Amt. in Crore] 2005-06 [H1] 2006-07 [H1] Variation [%] 2005-06 [Q2] 2006-07 [Q2] Variation [%] Profit on sale of Inv57.3223.60[58.83]20.5010.59[48.34] Commission Income40.7349.7822.2219.8425.3227.62 Exchange earned on Forex 11.2011.341.256.695.75[14.05] Process Fee9.8911.6617.905.927.8833.11 Other Income13.8517.9429.539.1312.6938.84 Recovery in w/off Inv. 0.000.950.00 0.94 Recovery in w/off A/c 28.1935.2825.1521.3817.91[16.23] TOTAL161.18150.5583.4681.08

6. 6 Profit & Loss [Amt. in Crore] 2005-06 [H1] 2006-07 [H1] Variation [%] 2005-06 [Q2] 2006-07 [Q2] Variation [%] Interest Earned870.771003.8915.29430.91526.4922.18 Interest Expended512.10591.2315.45261.29311.4319.19 Net Interest Income358.67412.6615.05169.62215.0626.80 Non Interest Income161.18150.55[6.60]83.4681.08[2.86] Operating Expenses277.81305.8810.10135.11155.9915.45 Burden[116.63][155.33]33.18[51.65][74.91]45.06 Operating Profit242.04257.336.32117.97140.1518.80 Provisions & Contingencies 382.70170.09[62.22]69.3371.40[30.89] Net Profit[140.66]87.2448.6468.7541.34

7. 7 [Amt. in Crore] F.Y. 05-06 2005-06 [H1] 2006-07 [H1] 2005-06 [Q2] 2006-07 [Q2] Provision for NPAs236.92149.6678.0054.7234.34 Provision for Taxes[23.29][19.94]17.96[9.89]16.65 Prov for Depreciation on Investments 270.69227.8652.9314.665.12 Prov for Standard Assets/Restructed Assets 42.9218.158.206.029.75 Amortisation of premium paid on Investment 19.969.9614.514.987.26 Contingent Liabilities[1.45][1.94][1.00]0.00[1.14] Others[0.25][1.05][0.51][1.15][0.58] TOTAL PROVISIONS547.33382.70170.0969.3371.40 Provisions & Contingencies

8. 8 Resource Mobilisation [Amt. in Crore] Sept ’05Mar ’06Sept ’06 Growth [%] [Sept - 05-06] Growth[%] [Sept 04-05] Current Deposits22982380258712.5816.59 Savings Deposits72587931832014.6315.91 Term Deposits12573133121425813.404.66 TOTAL22129236232516513.719.47 Share of Demand Deposits in total 43.18%43.65%43.34% Borrowings303.640.9973.90

9. 9 Credit Deployment [Amt. in Crore] Sept ’05Mar ’06Sept ’06 Growth [%] 05-06 Y-on-Y Growth [%] 04-05 Y-on-Y GROSS ADVANCES 12777. 33 14747.7916393.5828.3023.67 Priority Sector Adv54846073707429.0032.88 — Agriculture218723622769 26.61 23.21 — S.S.I.1380132214071.9621.27 — Others19172389287146.9557.91 PS Advances to Net Bank Credit % 44.0042.1944.09 Retail Credit18162249278353.25 S.M.E.21462388280130.52 C.D. Ratio [%]59.7962.4365.14

10. 10 Resource Mobilisation

11. 11 Funds Deployment [Amt. in Crore] Sept ’05Mar ’06Sept ’06 Growth [%] Y-on-Y Net Advances12151.5614231.2415909.4730.93 Net Investments9367.288570.679336.60[0.33]

12. 12 Capital Adequacy [Amt. in Crore] Sept ’05Mar ’06Sept ’06 Eligible Tier I566.51848.20938.05 Eligible Tier II514.04662.95938.05 Eligible Total1080.551511.151876.10 Total RWAs11636.4814225.2915620.25 Core CRAR – Tier I5.96 6.01 CRAR on Tier II3.334.666.00 CRAR [Total]9.2910.6212.01 Net Worth566.51848.20938.05

13. 13 Asset Quality [Amt. in Crore] Sept ’05 [Q2] Sept ’06 [Q2] Mar ’06 [F.Y] Sept ’05 [H1] Sept ’06 [H1] GROSS NPA Opening Balance1149.30974.911147.54 949.40 Less : Cash Recovery & credit operations 52.0057.94227.9595.4589.43 Upgradations4.395.2731.4112.0912.54 Write-off37.0731.38273.6275.0798.16 Total Reductions93.4694.59532.11182.61200.13 Add : Slippage & Debit Op.46.3563.93333.97137.26194.98 Closing Balance1102.19944.25949.401102.19944.25

14. 14 Asset Quality [Amt. in Crore] Sep ’05 Mar ’06 Sep ’06 NPA PROVISION Opening Balance593.11536.17476.34 — Additions54.72236.9134.34 — Reductions37.07273.6231.38 Closing Balance610.76499.46479.30 GNPA to GA [%]8.636.445.76 NNPA to NA [%]3.923.042.89 Provision cover[%] 55.4152.6150.76

15. 15 Financial Ratios [cost/yield] Mar ’06 [FY] Sept ’05 [HY] Sept ’06 [HY] Sept ’05 [Q2] Sept ’06 [Q2] Cost of Deposits [%]4.584.614.804.654.93 Cost of Funds [%]4.664.674.894.714.99 Yield on Advances [%] 7.808.168.388.228.71 Yield on Investments with POSOI [%] 9.199.068.118.308.11 Yield on Investments without POSOI [%] 7.827.847.577.417.63 Yield on Funds [%]7.467.577.767.517.95

16. 16 Financial Ratios Mar ’06 [FY] Sept ’05 [HY] Sept ’06 [HY] Sept ’05 [Q2] Sept ’06 [Q2] Intt Income as % age to avg working funds 6.627.117.426.977.61 Non Intt Income as %age to avg working funds 2.391.321.111.351.17 Interest spread as %age to avg working funds 2.882.933.052.743.11 Operating Profit as %age to avg working funds 2.701.981.901.912.03 Net Interest Margin [%] [NII / interest bearing assets on last day] 2.952.973.192.813.33

17. 17 Financial 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]3.041.702.40 Cost Income Ratio [%]47.5053.4454.3153.3952.67 Coverage Ratio [%]1.560.351.66 Book Value [incl. Reval Reserve] [in Rs.] 39.1123.4541.8323.4541.83 Book Value [excl.Reval Res.] [in Rs.] 29.5719.7732.7119.7732.71 Return on Assets [%] [annualised] 0.29-ve0.640.760.99 Return on Networth [%] [annualised] 9.02-ve19.7531.9430.52

18. 18 Productivity Ratios Sept ’05 {Q] Mar ’06 [F.Y] Sept ’06 [Q] Business Per Branch [in Rs. Crs]34.1237.5140.62 Business Per Employee [in Rs. Crs]3.413.784.15 Profit Per Branch [in Rs. Lacs] [not annualised] 4.737.136.72 Profit Per Employee [in Rs. Lacs] [not annualised] 0.470.720.69

19. 19 Thank you