Bank of Rajasthan posts PAT of Rs 115.20 crore announces 1:5 bonus

Mumbai, June 02, 2008: Bank of Rajasthan (BoR) has posted an interest income of Rs 1049.44 crore for the 12 months ended March 31, 2008 as compared to Rs 757.93 crore during March 31, 2007. The bank earned a net profit of Rs 115.20 crore as against Rs 110.57 crore last year. The net profit of March 2007 year included Rs.36 crores profit on sale of equity shares of Bharat Overseas Bank. Excluding this, there is increase in net profit by 41%.

During the fourth quarter ended March 31, 2008, the Bank earned an interest income of Rs 286.93 crores, as compared to Rs 232.31 crore during previous corresponding quarter (up by 23.51%). Following improved performance, the board has announced the dividend of 5% and also announced bonus in the ratio of 1 share for every 5 shares held.

Total deposits during the year have gone up to Rs 13849.35 crore against Rs 10815.92 crore a year ago. Gross Advances rose to Rs 7529.17 crore, compared to Rs 5811.39 crore last year.

During the year the Bank has entered into new tie-ups for On-line broking with Religare Securities Ltd. and Karvy Securities Ltd., for Cash Management Services with SBI Mutual Fund, ICICI Prudential Mutual Fund and Citi Bank and for distribution of mutual funds with DSP Merill Lynch AMC, Franklin Templeton Mutual Fund, UTI Mutual Fund, Sundaram BNP Paribas and Tata Mutual Fund

About Bank of Rajasthan

Established way back in 1943, Bank of Rajasthan is one of the fastest growing private banks in the country, which has made strides by making consistent profits for past several years. With a wide network of 464 branches in the entire length and breadth of the country. Bank of Rajasthan has emerged as one of the largest private sector banks in the country. The bank has made tremendous and historical progress during the last few years, thanks to the prudent corporate governance and vision shown by the new manage ment. The Bank has over two-million customer base and offers ATM facilities at over 10,500 ATMs across the country with strategic tie-up with other banks. All the branches of bank spread over 286 cities across India in 22 states and 2 union territories and all branches offering online services. The bank has covered 125 cities in Rajasthan alone.

Financial Highlights of The Bank of Rajasthan Ltd.

The bank has maintained its growth in net profit for the financial year 2007-08. The net profit of the bank increased to Rs 115.20 crore for the year ended March 31.2008 against Rs 110.57 crore for the previous full year. The bank has declared 1 for 5 bonus shares (i.e 1 equity share for every 5 equity share). In last year also bank gave bonus shares in the ratio of 1share for every 4 shares held. This is the second bonus in a row in last two years.

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