SIB Schemes

State Bank of Indore has posted a net profit of Rs. 234.01 crore for the year ended March 2008 which is 23.19% higher than the net profit of Rs. 189.96 crore earned in the previous year. This increase is attributable to impressive growth in treasury income (171.72%), interest income (34.19%), commission income (14.40%) and containment of operating expenses (5.19%). As at the end of March 08, the Bank’s Capital Adequacy Ratio stood at 11.31%, which was well above the prescribed norm. This was stated in a press release by the Bank, after the working results for the year 2007-08 were approved by the Bank’s Board of Directors today at Mumbai.

As at the end of March 08, the Bank’s total business has crossed the level of Rs. 43000 crore. During the year, the Bank’s total deposits increased from Rs. 19976.48 crore to Rs. 24698.81 crore, registering a growth of 23.64 % over March 07 level. The continuous emphasis laid on mobilising low-cost deposits resulted in the improvement in the share of CASA in total deposits from 29.18% in March 07 to 31.73% in March 08.

The gross advances recorded a growth of 18.53 %, rising from Rs. 15486.52 crore in March 07 to Rs. 18356.22 crore in March 08. In conformity with the Govt. directive, the Bank continued to accord topmost priority to financing of SMEs (Small & Medium Enterprises). During 07-08, the Bank’s SME segment advances have grown by Rs. 771.93 crore, thereby registering a growth of 47.27%, which is well above the average annual growth envisaged by the Government. The Bank has been an active participant in the scheme of the Govt. of M.P. for ensuring cent-per-cent coverage to all eligible farmers under the Kisan Credit Card scheme. During the year under review, 30484 new KCCs were sanctioned, thereby taking the total no. of KCC sanctions to a new high of 231617.

Concerted efforts made for NPA reduction resulted in a healthy drop in the absolute level of Gross NPAs, which has come down from Rs. 294.21 crore in March 07 to Rs. 265.39 crore in March 08. The Gross & Net NPA ratios have also improved from 1.90% to 1.44% and1.04% to 0.73% respectively during the year 07-08.

As in the past, the Bank continued to surpass the relevant benchmarks under social lending. At the end of FY 07-08, its priority sector lending, agricultural advances, weaker section advances & advances to women beneficiaries constituted 50.07%, 19.12%, 12.13% & 6.20% of its Adjusted Net Bank Credit against the respective benchmarks of 40%, 18%, 10% & 5%.

The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. During 07-08, the Net Profit Per Employee surged by 28.18% from Rs.2.91 lac to Rs.3.73 lac & the Average Business Per Employee recorded a substantial increase of 26.79% from Rs.4.77 crore to Rs. 6.04 crore.

The Bank has the distinction of being the only public sector bank in M.P. to have all branches on CBS platform on par with other private sector and foreign banks and has been offering technology leveraged products and anywhere banking services to its customers. All branches of the bank are RTGS/NEFT enabled and the maximum charges levied on this paperless remittance is Rs. 25/- only. All-out efforts are being made for popularizing these products among our clientele.

During 2007-08, the Bank installed 65 new ATMs, thereby enlarging its ATM network to 300 at the end of March 08. The Bank’s customers now have easy access to more than 8000 ATMs of the State Bank Group all over the country. Furthermore, 6 ATMs were installed at different railway stations in M.P. & U.P. as part of the MOU signed by SBI with the Indian Railways. The Bank also achieved the unique distinction of launching the first mobile ATM in Madhya Pradesh in Indore during the year.

Besides enlarging its ATM card base, the Bank continued to lay adequate emphasis on popularisation of Internet Banking facility, both among retail & corporate users. For greater customer convenience, the Bank considerably enlarged its array of Internet Banking Services viz. E-trade for online share trading, hassle-free E-payment of direct taxes by both individuals & corporate customers. The Bank has inked a MOU with Indore Municipal Corporation for e-collection of municipal taxes at Indore.

During the year, the Bank has opened 14 new branches, thereby enlarging its branch network to 459 as at the end of March 08. With the opening of a branch at Anuppur, the Bank has extended its reach to all the 48 districts of Madhya Pradesh and has its presence in 14 states and 1 union territory. In conformity with the Sachhar Committee directive, the Bank opened two branches in Minority Concentrated Districts (MCDs). Six Central Processing Centres were also opened during the year under report.

For giving more focussed attention on speedier sanctions, marketing & recovery of farm loans, an Agricultural Central Processing Centre (ACPC) was set up at Khargone. A Trade Finance Central Processing Centre (TFCPC) has also become functional at Indore to give the necessary impetus to the highly remunerative trade finance business. These loan CPCs have been set up with the twin objectives of freeing the branch staff from routine back-office activities and for giving more focussed attention on business development.

A ‘Financial Centre’ housing various CPCs has been set up at Indore to provide a wide array of retail financial services under one roof. During the year under report, the Centralised Pension Processing Centre (CPPC) has extended its coverage to 34636 pensioners in 131 branches of Indore , Ujjain , Barwani, Dewas, Dhar, Khargone, Khandwa & Ratlam districts.

Committed to the cause of furthering inclusive growth in its home state, the Bank has taken upon itself the responsibility of implementing IT-enabled financial inclusion in two blocks of Vidisha district on a pilot basis. This envisages the adoption of technological innovation in the area of branchless banking through the mechanism of ‘ SB Indore Tiny’ bio-metric cards. The Bank has also been allotted two districts of Madhya Pradesh viz. Dhar & Khargone for opening ‘No Frill’ accounts of all the NREGS beneficiaries.

All the rural & semi-urban branches of the Bank have been allotted a target to adopt and ensure 100% financial inclusion in one village each under their area of operations. As a result of the sustained drive made during the year, the opening of ‘No Frill’ accounts received a significant boost, rising from 3331 in March 2007 to 154905 in March 2008.

Date:	24th Apr. 2009
Subject:	NET PROFIT SOARS BY 19.19 % ON Y-o-Y BASIS
State Bank of Indore has posted a net profit of Rs. 278.92 crore for the year ended March 2009 which is 19.19 % higher than the net profit of Rs. 234.01 crore earned in the previous year. This increase is attributed to impressive growth in income from forex transactions, net interest income, treasury income, commission income and the control of operating expenses . As at the end of March 2009, the Bank’s Capital Adequacy Ratio as per Basel-I & Basel-II stood at 11.81% & 13.46% respectively, which was well above the prescribed norm. This was stated in a press release by the Bank, after the working results for the year 2008-09 were approved by the Bank’s Board of Directors today at Mumbai. As at the end of March 2009, the Bank’s total deposits increased from Rs. 24698.81 crore to Rs. 28331.98 crore, registering a growth of 14.71 % over March 08 level. The continuous emphasis on mobilising low-cost deposits resulted in accretion of CASA (Current Accounts & Savings Accounts) deposits to the tune of Rs. 720.88 crore during the year under report. Savings Bank deposits which stood at Rs.6036.91 crore as at the end of March 2009, registered a Y-o-Y growth of 18.64 % over March 2008 level. The percentage share of low-cost deposits in total deposits stood at 30.21 % as on 31.03.2009. Despite the general slowdown in credit off-take in the economy, the gross advances recorded a growth of Rs.3390.36 crore (18.47 %), rising from Rs. 18356.22 crore in March 2008 to Rs. 21746.58 crore in March 2009. The change in focus towards high-yielding advances coupled with the Bank's constant efforts to improve the pricing of the credit portfolio had a salutary effect on the yield on advances, which improved from 10.40 in March 2008 to 10.82 in March 2009. Suitable modifications were incorporated in the 'Home Loan For Businessmen', 'Scholar Loan' and 'Finance to Small Road Transport Operators under SBF Segment' schemes to make them more customer-friendly. During the year, a new scheme "Car loan to SME Units" at highly competitive rates had been launched to provide additional value added services to the SME clients. A new product 'SME Care' has been introduced to ease the liquidity position of SME units by granting 20% additional working capital. Further, in order to meet the capital expenditure for purchase of machines/tools/generator sets and other fixed assets for immediate use, a new scheme 'MSME Special Term Loan' has been devised for MSME units at a cheaper pricing. The Bank had also rolled out a new product' Indore Bank Special Home Loan Scheme' to boost small ticket home loans and 'Indore Bank Hostel Finance' to rope in the ever-increasing hostel business in Indore and Bhopal. In order to give necessary thrust to retail loans, the Bank organized ' LOAN UTSAVS' at Indore and Bhopal. The importance accorded to SME financing can be gauged from the fact that advances to Small and Medium Enterprises increased to Rs.5922.43 crore as on 31.03.2009, thereby recording an impressive Y-o-Y growth of 65.03 %, which is well above the 20% mandate of Government of India. The Govt. directive relating to doubling the SME advances within five years ending March 2010 has already been accomplished by the Bank in 2008. During the year under report, the Bank successfully implemented the 'Agriculture Debt Waiver and Debt Relief Scheme-2008', extending the benefit of Rs.160.27 crore to 39278 Small and Marginal Farmers under Debt Waiver. Other farmers numbering 65051 became eligible for availing relief aggregating to Rs.166.94 crore under the Debt Relief Scheme. The Bank has also been an active participant in the scheme of the Govt. of M.P. for ensuring cent-per-cent coverage to all eligible farmers under the Kisan Credit Card scheme. During the year under review, 33261 new KCCs were sanctioned, thereby taking the total no. of KCC sanctions to a new high of 150862. The Bank has been implementing the PM's new 15-point programme for minority communities in right earnest. As at the end of March 2009, the Bank's advances to members of minority communities constituted 13.49% of the Bank's priority sector lending, which is well above the target of 13%. As in the past, the Bank continued to surpass the relevant benchmarks under social lending. At the end of FY 08-09, its priority sector lending, agricultural advances, weaker section advances and advances to women beneficiaries constituted 54.76%, 18.21%, 11.79% & 6.75% of its Adjusted Net Bank Credit against the respective benchmarks of 40%, 18%, 10% & 5%. The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. During 08-09, the Net Profit Per Employee surged by 19.03% from Rs.3.73 lac to Rs.4.44 lac and the Average Business Per Employee recorded a substantial increase of 17.55 % from Rs.6.04 crore to Rs. 7.10 crore. During 2008-09, the Bank installed 50 new ATMs, thereby enlarging its ATM network to 350 at the end of March 2009. With direct ATM sharing arrangements with 13 banks coupled with ATM sharing facility with another 20 banks under NFS(National Financial Switch) as member of the State Bank Group, the ATM cardholders of the Bank have access to more than 32000 ATMs across the country. Besides enlarging its ATM card base, the Bank continued to lay adequate emphasis on popularization of Internet Banking facility, both among retail & corporate users. For greater customer convenience, the Bank considerably enlarged its array of Internet Banking Services viz. E-trade for online share trading, hassle-free E-payment of direct taxes by both individuals & corporate customers, payment of insurance premium, telephone bills, electricity bills, railway ticket reservation etc. The Bank has inked a MOU with Indore Municipal Corporation for e-collection of municipal taxes at Indore. As a result of various initiatives taken to popularize Internet Banking, the no of internet banking users has increased by 58% to cross the 40000 mark. During the year 2008-09, 11 new branches were opened, thereby taking the number of branches from 459 in March 2008 to 470 in March 2009. As on 31.03.2009, the Bank’s branch network comprises of 120 branches in Rural, 139 branches in Semi-Urban, 85 branches in Urban and 126 branches in Metro centres spread over 14 states and 1 union territory. With the opening of a branch at Waidhan in Singrauli district, the Bank now has its presence in all the districts of Madhya Pradesh. During FY 2008-09, in conformity with the directives of the Sachar Committee, the Bank has opened 2 branches in Minority Concentrated Districts (MCDs). Furthermore, 8 new Central Processing Centres (CPCs) have also been operationalised during the year, thus increasing the number of such centers to 22 as at the year-end. Aimed at providing optimum services with instant accessibility, these CPCs have been rolled out in order to reduce the turnaround time and improve the quality of retail loans. For giving more focussed attention on speedier sanctions, marketing and recovery of farm loans, five Agricultural Central Processing Centres (ACPCs) have been set up at Guna, Gwalior, Ratlam, Ujjain and Bhopal. These loan CPCs have been set up with the twin objectives of freeing the branch staff from routine back-office activities and for giving more focussed attention on business development. Primarily aimed at customer convenience, a Liability Centralized Processing Centre (LCPC) has been successfully operationalised at Indore for facilitating reduction of time normally spent in opening of accounts, issuance of cheque books and other related activities. This has been a pioneering endeavour by the Bank, as it is the 1st such initiative by any commercial bank in M. P. Another successful BPR initiative, the Centralized Pension Processing Centre at Indore, which aims to take care of back office operations involved in calculating and crediting pensions at monthly intervals has enlarged its coverage to 265 branches and 65114 pension accounts in 24 districts of M.P. During the year, two Currency Administration Cells have also been operationalized at New Delhi and Indore for efficient cash management of the linked branches. A Centralized Clearing Processing Centre (CCPC) has also been rolled out at Indore for better customer services culminating in speedy and extended hours for acceptance of instruments, enhanced & accurate processing capabilities and reduction in the workload of branches. For the benefit of the customers, the Bank's first self-service 'Cheque Deposit Kiosk' has also been installed at Y.N.Road Branch, Indore. Customer Service and redressal of complaints/grievances continued to receive the highest priority during the year. A robust and prompt grievance redressal mechanism 'SMS SBN Service' has been launched at Head office for expeditious resolution of customer complaints. With the gearing up of the complaint redressal machinery, the number of pending complaints has declined from 155 in March 2008 to 80 in March 2009. As at the end of March 09, Gross NPAs stood at Rs.301.28 crore. The Gross NPA ratio has declined from 1.44 % in March 2008 to 1.39 % in March 2009. Committed to the cause of furthering inclusive growth in its home state, the Bank has taken upon itself the responsibility of implementing IT-enabled financial inclusion in one blocks of Vidisha district on a pilot basis. This envisages the adoption of technological innovation in the area of branchless banking through the mechanism of ‘ SB Indore Tiny’ bio-metric cards. As at the end of March 2009, 26901 such accounts have already been opened and 15126 bio-metric cards have since been activated. Apart from this , NREGS beneficiaries of two districts namely, Dhar and Khargone are also being covered under the pilot project of IT-enabled financial inclusion. As a result of the sustained drive made during the year, the opening of 'No Frills' accounts received a significant boost, rising from 154905 in March 2008 to 770964 in March 2009. During the FY 2008-09, the Bank has attained the target of opening of 250 new accounts at each rural and semi-urban branch, thus complying with the recommendations of the Rangarajan Committee.
Date:	17th Jan. 2009
Subject:	BUSINESS LEVEL CROSSES Rs.47000 CRORE
As at the end of December 08, the Bank’s Operating Profit has surged to a level of Rs. 438 crore, which marks an impressive growth of 44.24 % on Y-o-Y basis. This growth in Operating Profit is mainly attributable to the increase of 38.26% in net interest income on Y-o-Y basis. As at the end of December 08, the Bank has posted a Net Profit of Rs. 176 crore, despite higher depreciation on investments, provisions for present value loss of debt waiver under ' Agricultural Debt Waiver and Debt Relief (ADWDR) Scheme 2008' and wage revision. This was stated in a press release by the Bank, after the working results for the quarter ending December 08 were approved by the Bank’s Board of Directors today at Indore. During the quarter under review, the Bank's business has crossed the level of Rs.47000 crore to attain a level of Rs. 47891 crore. This admirable growth in business is reflected in the fact that within a period of twelve months, the Bank's business turnover has grown from Rs.40000 crore in December 07 to over Rs. 47000 crore in December 08. The improved performance of the Bank can be gauged by the rise in two indices viz., Net Interest Margin (NIM) and average business per employee. On Y-o-Y basis, both NIM (at 2.77%) and average business per employee (at Rs.6.94 crore) have recorded an increase of 18.37 % and 18.84% respectively. Buoyed by increased earnings from exchange profit on forex turnover and other commission, the Bank's non-interest income excluding treasury income has surged ahead by 15.74 % on Y-o-Y basis. The significant upturn in share of profit from core activities in operating profit from 81.21 % in December 07 to 95.20% in December 08 bears ample testimony to the Bank's growth on solid foundations. This is also borne out by the decline in transaction cost from 1.08% in December 07 to 0.93% in December 08 and the containment of increase in overheads to 0.86 % only. The Bank’s total deposits have increased from Rs. 22539 crore as on 31st December 07 to Rs. 26448 crore as on 31st December 08, thereby registering an increase of 17.35 % on Y-o-Y basis. On Y-o-Y basis, Savings Bank Deposits have registered a growth of Rs.572 crore (11.87%) whereas Retail deposits have registered a growth of Rs.2205 crore (23%). In order to boost the Current Deposits, a new product 'Indore Bank Power Jyoti Current Account' has been introduced for schools, colleges, universities and charitable organizations. This product provides convenient facility for collection of any type of fees, regular donations and similar receivables from different centres by leveraging the core banking platform. Vigorous efforts are also being made to enlarge the current account clientele base by popularising 'Indore Bank Power Gain' & 'Power Pack' Current Accounts with their in-built concessions in service charges by leveraging the benefits of technology-led delivery channels viz. RTGS, NEFT. New deposit schemes viz. 'Dhanvarsha' and 'Dhanlaxmi' launched in Sept 08 and Oct 08 respectively have evoked good response. Term deposits to the tune of Rs.674.19 crore spread over 63946 accounts have been mobilized under 'Dhanlaxmi' scheme, which concluded on 31.12.08. As at the end of December 08, the Bank’s advances had attained a level of Rs. 21443 crore, thereby recording a growth of 22.61 % on Y-o-Y basis. The growth up to the end of December 08 works out to Rs. 3086.80 crore, thereby achieving 79% of the annual budget. In order to provide the necessary stimulus for growth in the housing sector, the Bank has rolled out a new product 'Indore Bank Special Home Loan Scheme' to boost small ticket home loans. Several measures have been initiated to boost the advance portfolio in SBF segment viz. 'Indore Bank Hostel Finance' to rope in the ever-increasing hostel business in Indore and Bhopal, 'Car loan to SME units' at highly competitive rates and 'SME Care' to ease the liquidity position of SME units. The 'Financing to Small Road Transport Operators Under SBF Segment' scheme has also been suitably modified/relaxed in respect of interest rates and collateral security to make the scheme more competitive and attractive. At the end of December 08, the Bank's Gross NPA ratio and Net NPA ratio stood at 1.14% & 0.62% respectively, which marks a considerable improvement over 1.91 % & 1.02% relating to the similar period of the previous year. As at the end of Q-3, the Bank's Capital Adequacy Ratio had attained a level of 10.53% (as per BASEL I norms) and 11.95% (as per BASEL II norms) against the regulatory benchmark of 9%. In sync with the national priority of promoting the use of alternative cost-efficient and eco-friendly fuels, the Bank has entered into a bipartite agreement with M/S. Ruchi Bio-fuels Pvt. Ltd for Jatropha Plantation in its area of operations. Concerted efforts are being made to extend fresh finance to all the beneficiaries of the 'ADWDR Scheme 2008'and also to the farmers whose accounts have been written off, in the ongoing Rabi season. Suitable measures have also been initiated for financing the allied agricultural activities along with other investment credit. In order to have a broader canvas in rural financing, the existing ACPCs at Khargone, Guna, Gwalior, Ratlam, Ujjain and Bhopal are being converted into Rural Central Processing Centres for covering all potential products in various segments in their areas of operation. Committed to the cause of furthering inclusive growth in its main area of operation, the Bank has taken upon itself the responsibility of implementing IT-enabled financial inclusion in two blocks of Vidisha district on a pilot basis. This envisages the adoption of technological innovation in the area of branchless banking through the mechanism of ‘ SB Indore Tiny’ bio-metric cards. 20219 such accounts have already been opened and 7122 bio-metric cards have since been activated. The Bank has also been allotted two districts of Madhya Pradesh viz. Dhar & Khargone for opening ‘No Frill’ accounts of all the NREGS beneficiaries. As in the past, the Bank continued to surpass the various benchmarks under social lending. At the end of Q-3, its priority sector lending, direct agricultural advances, advances to weaker sections and women beneficiaries constitute 46.14%, 18.40%, 10.88% & 5.44% of ANBC against the respective benchmarks of 40%, 18%, 10% & 5%. The ATM network has increased to 313 as at the end of December 08. All branches of the Bank are networked to over 10000 ATMs of the State Bank Group spread throughout the country. Besides enlarging its ATM Card base, the Bank continued to lay adequate emphasis on popularization of Internet Banking facility, both among retail and corporate users. As at the end of Q-3, the Bank has opened 5 branches (2-rural, 1-urban, 2-metropolitan) and 7 Central Processing Centres. Two of these branches have been opened in Minority Concentration Districts. As on 31.12.2008, the number of branches and offices stood at 464 and 526 respectively. Primarily aimed at customer convenience, a Liability Centralized Processing Centre (LCPC) has been successfully operationalised at Indore for facilitating reduction of time normally spent in opening of accounts, issuance of cheque books and other related activities. This has been a pioneering endeavour by the Bank, as it is the 1st such initiative by any commercial bank in M. P. Another successful BPR initiative, The Centralized Pension Processing Centre at Indore, which aims to take care of back office operations involved in calculating and crediting pensions at monthly intervals has enlarged its coverage to 197 branches and 51418 pension accounts in 15 districts of M.P.
Date:	15th Oct. 2008
Subject:	BUSINESS LEVEL CROSSES Rs.45000 CRORE MILESTONE- OPERATING PROFIT SOARS BY 41.87 % ON Y-o-Y BASIS
As at the end of September 08, the Bank’s Operating Profit has surged to a level of Rs. 275 crore, which marks an impressive growth of 41.87 % on Y-o-Y basis. This growth in Operating Profit is mainly attributable to the increase of 38.08% in net interest income on Y-o-Y basis. As at the end of September 08, the Bank had posted a Net Profit of Rs. 105.16 crore, despite higher depreciation on investments, consequent to the rise in interest rates and the slide in the equity markets and one time provision for present value loss of debt waiver under 'ADWDR Scheme 2008'. This was stated in a press release by the Bank, after the working results for the quarter ending September 08 were approved by the Bank’s Board of Directors today at Maheshwar. During the quarter under review, the Bank's business level has crossed the coveted milestone of Rs.45000 crore and attained a level of Rs. 46011 crore. This admirable growth in business is reflected in the fact that within a short span of nine months, the Bank's business turnover has grown from Rs.40000 crore in December 07 to over Rs. 46000 crore in September 08. The improved performance of the Bank can be gauged by the rise in two indices viz., Net Interest Margin (NIM) and average business per employee. On Y-o-Y basis, both NIM (at 2.77%) and average business per employee (at Rs.6.78 crore) have recorded an increase of 18.38% and 19.58% respectively. Buoyed by increased earnings from exchange profit on forex turnover and other commission, the Bank's non-interest income excluding treasury income has surged ahead by 11.38 % on Y-o-Y basis. The significant upturn in share of profit from core activities in operating profit from 82.57 % in September 07 to 98.21% in September 08 bears ample testimony to the Bank's growth on solid foundations. This is also borne out by the decline in transaction cost from 1.12% in September 07 to 0.94% in September 08 and the containment of increase in overheads to 1.77 % only. The Bank’s total deposits have increased from Rs. 21530 crore as on 30th September 07 to Rs. 25500 crore as on 30th September 08, thereby registering an increase of 18.44 % on Y-o-Y basis. On Y-o-Y basis, Savings Bank Deposits have registered a growth of Rs.675 crore (14.46%). Retail deposits have registered a growth of Rs.1013 crore (12%) over March 08 level. Vigorous efforts are being made to enlarge the current account clientele base by popularising 'Indore Bank Power Gain' & 'Power Pack' Current Accounts with their in-built concessions in service charges by leveraging the benefits of technology-led delivery channels viz. RTGS, NEFT. As at the end of September 08, the Bank’s advances had attained a level of Rs. 20512 crore, thereby recording a growth of 25.38 % on Y-o-Y basis. The cumulative growth up to the end of September 08 works out to Rs. 2156 crore against the budgetary growth of Rs.1469 crore for the half-year. Suitable modifications have already been incorporated in the ' Home Loan For Businessmen' and 'Scholar Loan' schemes to make them more customer-friendly. During this quarter, a new scheme "Car loan to SME Units" has been launched to provide additional value added services to the SME clients. In order to give the necessary thrust to retail loans, the Bank has recently organized 'LOAN UTSAVS' at Bhopal and Indore and concessions on interest rates and processing fees for Car and Housing loans are being offered during the 'Special Festival Campaign' being organized from 01.10.08 to 31.12.08. In sync with the national priority of promoting the use of alternative cost-efficient and eco-friendly fuels, the Bank has entered into a bipartite agreement with M/S. Ruchi Bio-fuels Pvt. Ltd for Jatropha Plantation in its area of operations. Earnest efforts are also being made for extending finance in the ensuing Rabi season to all those farmers who had benefited under 'Agricultural Debt Waiver and Debt Relief Scheme 2008'. In order to accelerate the pace of growth and for minimising the turnaround time (TAT), effective marketing and prompt sanctioning of agricultural loans, five new Agricultural Central Processing Centres have been set up recently at Guna, Gwalior, Ratlam, Ujjain and Bhopal. Committed to the cause of furthering inclusive growth in its home state, the Bank has taken upon itself the responsibility of implementing IT-enabled financial inclusion in two blocks of Vidisha district on a pilot basis. This envisages the adoption of technological innovation in the area of branchless banking through the mechanism of ‘ SB Indore Tiny’ bio-metric cards. 8242 such accounts have already been opened and 864 bio-metric cards have since been activated.The Bank has also been allotted two districts of Madhya Pradesh viz. Dhar & Khargone for opening ‘No Frill’ accounts of all the NREGS beneficiaries. As in the past, the Bank continued to surpass the various benchmarks under social lending. At the end of H-1, its priority sector lending, advances to weaker sections and women beneficiaries constitute 41.14%, 10.62% & 5.37% of ANBC against the respective benchmarks of 40%, 10% & 5%. At the end of September 08, the Bank's Gross NPA ratio and Net NPA ratio stood at 1.39% & 0.75% respectively, which marks an improvement over 2.01 % & 1.08% relating to the similar period of the previous year. As at the end of H-1, the Bank's Capital Adequacy Ratio had attained a level of 10.70% against the regulatory benchmark of 9%. The ATM network has increased to 301 as at the end of September 08. All branches of the Bank are networked to over 8788 ATMs of the State Bank Group spread throughout the country. Besides enlarging its ATM Card base, the Bank continued to lay adequate emphasis on popularization of Internet Banking facility, both among retail and corporate users. The 'Cash Back Campaign' organised during the quarter in order to popularize the debit cards had also evoked good response. As at the end of H-1, the Bank's branch network stood at 459 and its offices had increased to 521. Primarily aimed at customer convenience, a Liability Centralized Processing Centre (LCPC) has been successfully operationalised at Indore for facilitating reduction of time normally spent in opening of accounts, issuance of cheque books and other related activities. This has been a pioneering endeavour by the Bank, as it is the 1st such initiative by any commercial bank in M. P.
Date:	23rd April 2008
Subject:	INDORE BANK NET PROFIT UP BY 23%
State Bank of Indore has posted a net profit of Rs. 234.01 crore for the year ended March 2008 which is 23.19% higher than the net profit of Rs. 189.96 crore earned in the previous year. This increase is attributable to impressive growth in treasury income (171.72%), interest income (34.19%), commission income (14.40%) and containment of operating expenses (5.19%). As at the end of March 08, the Bank’s Capital Adequacy Ratio stood at 11.31%, which was well above the prescribed norm. This was stated in a press release by the Bank, after the working results for the year 2007-08 were approved by the Bank’s Board of Directors today at Mumbai. As at the end of March 08, the Bank’s total business has crossed the level of Rs. 43000 crore. During the year, the Bank’s total deposits increased from Rs. 19976.48 crore to Rs. 24698.81 crore, registering a growth of 23.64 % over March 07 level. The continuous emphasis laid on mobilising low-cost deposits resulted in the improvement in the share of CASA in total deposits from 29.18% in March 07 to 31.73% in March 08. The gross advances recorded a growth of 18.53 %, rising from Rs. 15486.52 crore in March 07 to Rs. 18356.22 crore in March 08. In conformity with the Govt. directive, the Bank continued to accord topmost priority to financing of SMEs (Small & Medium Enterprises). During 07-08, the Bank’s SME segment advances have grown by Rs. 771.93 crore, thereby registering a growth of 47.27%, which is well above the average annual growth envisaged by the Government. The Bank has been an active participant in the scheme of the Govt. of M.P. for ensuring cent-per-cent coverage to all eligible farmers under the Kisan Credit Card scheme. During the year under review, 30484 new KCCs were sanctioned, thereby taking the total no. of KCC sanctions to a new high of 231617. Concerted efforts made for NPA reduction resulted in a healthy drop in the absolute level of Gross NPAs, which has come down from Rs. 294.21 crore in March 07 to Rs. 265.39 crore in March 08. The Gross & Net NPA ratios have also improved from 1.90% to 1.44% and1.04% to 0.73% respectively during the year 07-08. As in the past, the Bank continued to surpass the relevant benchmarks under social lending. At the end of FY 07-08, its priority sector lending, agricultural advances, weaker section advances & advances to women beneficiaries constituted 50.07%, 19.12%, 12.13% & 6.20% of its Adjusted Net Bank Credit against the respective benchmarks of 40%, 18%, 10% & 5%. The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. During 07-08, the Net Profit Per Employee surged by 28.18% from Rs.2.91 lac to Rs.3.73 lac & the Average Business Per Employee recorded a substantial increase of 26.79% from Rs.4.77 crore to Rs. 6.04 crore. The Bank has the distinction of being the only public sector bank in M.P. to have all branches on CBS platform on par with other private sector and foreign banks and has been offering technology leveraged products and anywhere banking services to its customers. All branches of the bank are RTGS/NEFT enabled and the maximum charges levied on this paperless remittance is Rs. 25/- only. All-out efforts are being made for popularizing these products among our clientele. During 2007-08, the Bank installed 65 new ATMs, thereby enlarging its ATM network to 300 at the end of March 08. The Bank’s customers now have easy access to more than 8000 ATMs of the State Bank Group all over the country. Furthermore, 6 ATMs were installed at different railway stations in M.P. & U.P. as part of the MOU signed by SBI with the Indian Railways. The Bank also achieved the unique distinction of launching the first mobile ATM in Madhya Pradesh in Indore during the year. Besides enlarging its ATM card base, the Bank continued to lay adequate emphasis on popularisation of Internet Banking facility, both among retail & corporate users. For greater customer convenience, the Bank considerably enlarged its array of Internet Banking Services viz. E-trade for online share trading, hassle-free E-payment of direct taxes by both individuals & corporate customers. The Bank has inked a MOU with Indore Municipal Corporation for e-collection of municipal taxes at Indore. During the year, the Bank has opened 14 new branches, thereby enlarging its branch network to 459 as at the end of March 08. With the opening of a branch at Anuppur, the Bank has extended its reach to all the 48 districts of Madhya Pradesh and has its presence in 14 states and 1 union territory. In conformity with the Sachhar Committee directive, the Bank opened two branches in Minority Concentrated Districts (MCDs). Six Central Processing Centres were also opened during the year under report. For giving more focussed attention on speedier sanctions, marketing & recovery of farm loans, an Agricultural Central Processing Centre (ACPC) was set up at Khargone. A Trade Finance Central Processing Centre (TFCPC) has also become functional at Indore to give the necessary impetus to the highly remunerative trade finance business. These loan CPCs have been set up with the twin objectives of freeing the branch staff from routine back-office activities and for giving more focussed attention on business development. A ‘Financial Centre’ housing various CPCs has been set up at Indore to provide a wide array of retail financial services under one roof. During the year under report, the Centralised Pension Processing Centre (CPPC) has extended its coverage to 34636 pensioners in 131 branches of Indore , Ujjain , Barwani, Dewas, Dhar, Khargone, Khandwa & Ratlam districts. Committed to the cause of furthering inclusive growth in its home state, the Bank has taken upon itself the responsibility of implementing IT-enabled financial inclusion in two blocks of Vidisha district on a pilot basis. This envisages the adoption of technological innovation in the area of branchless banking through the mechanism of ‘ SB Indore Tiny’ bio-metric cards. The Bank has also been allotted two districts of Madhya Pradesh viz. Dhar & Khargone for opening ‘No Frill’ accounts of all the NREGS beneficiaries. All the rural & semi-urban branches of the Bank have been allotted a target to adopt and ensure 100% financial inclusion in one village each under their area of operations. As a result of the sustained drive made during the year, the opening of ‘No Frill’ accounts received a significant boost, rising from 3331 in March 2007 to 154905 in March 2008.
Date:	17th January 2008
Subject:	INDORE BANK BUSINESS LEVEL CROSSES Rs. 40000 CRORE MILESTONE- NET PROFIT SOARS BY 52.01% ON Y-o-Y BASIS
During the quarter under review, the Bank’s business level has crossed the coveted milestone of Rs.40000 cr. and attained a level of Rs. 40027 cr. This growth from Rs.30000 cr. has come in a period of just 1½ years. As at the end of Dec 07, the Bank’s Net Profit has surged to a level of Rs. 175.11 crore, which marks an impressive growth of 52.01 % on Y-o-Y basis. This growth in Net Profit is attributable to the increase in other income (39.61%) & net interest income (12.18%) on Y-o-Y basis. Total interest income has also registered a buoyant upturn, increasing by 40.01% on Y-o-Y basis. This was stated in a press release by the Bank, after the working results for the 9- month period ending Dec. 07 were approved by the Bank’s Board of Directors today at Indore. The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. Net Profit Per Employee at Rs.3.69 lac in Dec 07 has registered a growth of 58.37% on Y-o-Y basis. The Average Business Per Employee at Rs.5.84 crore has also recorded an increase of 28.61% on Y-o-Y basis. The Bank’s total deposits have increased from Rs.19976 crore as on 31st March, 07 to Rs. 22539 crore as on 31st Dec. 07, thereby registering an increase of Rs. 2563 crore upto the end of Q3. The period under report also witnessed an increase in the share of CASA in total deposits from 29.18% in March 07 to 30.37% in Dec. 07. This has been the outcome of concerted efforts made during the 'Josh' deposit mobilisation campaign organised in Q3 which resulted in fresh infusion of CASA deposits to the tune of Rs.192.52 cr. spread over 2.13 lac accounts. Concerted efforts are being made to enlarge the current account clientele base by popularising 'Indore Bank Power Gain' & 'Power Pack' Current Accounts with their in-built concessions in service charges. All branches of the bank are RTGS/NEFT enabled and the charges levied on these paperless remittance products are nominal with a maximum charge of Rs.25 per transaction. All-out efforts are being made for popularizing these products among our clientele. At the end of Q3, the Bank’s advances had attained a level of Rs. 17489 crore, thereby recording a growth of Rs.2002 crore upto Dec. 07. The Bank continued to aggressively market Kisan Credit Cards (KCCs) and up to the end of Dec 07, 24507 new KCCs have been sanctioned. As in the past, the Bank continued to surpass the different benchmarks under social lending. At the end of Q3, its priority sector, agricultural advances, advances to weaker section & women beneficiaries constitute 47.71%, 18.96%, 11.46% & 5.72% of ANBC against the respective benchmarks of 40%, 18%, 10% & 5%. At the end of Dec 07, the Bank's Gross NPA ratio and Net NPA ratio stand at 1.91% & 1.02% respectively which is an improvement over 2.80% & 1.62% relating to the similar period of the previous year. As at the end of Q3, the Bank's Capital Adequacy Ratio had attained a level of 12.66% against the regulatory benchmark of 9%. With the operationalisation of 59 new ATMs upto Dec 07, the ATM network has increased to 294 as at the end of Dec, 07. All branches of the Bank are networked to over 8000 ATMs of the State Bank Group spread throughout the country. Besides enlarging its ATM Card base, the Bank continued to lay adequate emphasis on popularization of Internet Banking facility, both among retail & corporate users. The Bank has achieved the unique distinction of launching the 1st Mobile ATM in Madhya Pradesh in Indore during Dec. 07. The Bank also has the distinction of being the 1st public sector bank in M.P. to have all branches on CBS platform on par with other private sector and foreign banks and has been offering technology leveraged products and anywhere banking services to its customers. E-payment of direct taxes (CBDT) has been operationalized in Dec. 07 and an MOU has been inked with Indore Municipal Corporation for e-collection of taxes. During the current year, the Bank has opened 13 new branches viz. 5 in M.P., 3 in Chhattisgarh, 1 in Andhra Pradesh, 1 in Delhi, 1 in Karnataka, 1 in West Bengal & 1 in Uttar Pradesh. Thus at the end of Dec. 07, the Bank has a network of 458 branches spread across 14 States and 1 Union Territory. In order to ensure faster sanction of retail loans, a ‘Financial Center’-- the first of its kind in M.P. was launched by the Bank in Indore during Dec.07. This financial super market with several loan processing centers has been set up to facilitate the easy availability of multiple financial products & services under one roof.
Date:	22nd October 2007
Subject:	INDORE BANK NET PROFIT UP BY 93.10 % DURING H-1
As at the end of the half-year under review, the Bank’s Net Profit has surged to a level of Rs. 115.88 crore, which marks an impressive growth of 93.10 % over the net profit of H-1 last year. This impressive growth in Net Profit is attributable to the increase in other income (89.49%) & net interest income (18.07%) on Y-o-Y basis. Total interest income has also registered a buoyant upturn, rising by 39.89% on Y-o-Y basis. This was stated in a press release by the Bank, after the working results for H-1 of FY 07-08 were approved by the Bank’s Board of Directors today at Mumbai. The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. Net Profit Per Employee at Rs.3.64 lac in Sept 07 has more than doubled as compared to Rs.1.81 lac in Sept 06. The Average Business Per Employee at Rs.5.67 crore has also recorded an increase of 26.56% on Y-o-Y basis. The Bank’s total deposits have increased from Rs.19976 crore as on 31st March, 07 to Rs. 21530 crore as on 30th Sept, 07, thereby registering an increase of Rs. 1554 crore during the half-year. The period under report also witnessed an increase in the share of CASA in aggregate deposits from 28.38% in March 07 to 28.78% in Sept, 07. Concerted efforts are being made for sustaining this momentum in the ongoing 'Josh' deposit mobilisation campaign. 'Indore Bank Power Gain' & 'Power Pack' Current Accounts with the in-built concessions in service charges are also being promoted in right earnest At the end of H-1, the Bank’s advances had attained a level of Rs. 16360 crore, thereby recording a growth of Rs. 873 crore during the half-year. The Bank continued to aggressively market Kisan Credit Cards (KCCs) and up to the end of Sept 07, 18980 new KCCs have been sanctioned. As in the past, the Bank continued to surpass the different benchmarks under social lending. At the end of H-1, its priority sector and agricultural advances constitute 44.45% & 18.68% against the respective benchmarks of 40% & 18%. At the end of Sept 07, the Bank's Gross NPA level stood at Rs.330.02 crore, with the Gross NPA ratio and Net NPA ratio being reported at 2.01% & 1.08% respectively. As at the end of H-1, the Bank's Capital Adequacy Ratio had attained a level of 12.76 %, which is well above the RBI guideline. With the operationalisation of 36 new ATMs during the half-year, the number of ATMs has increased to 271 as at the end of Sept, 07. Besides enlarging its ATM Card base, the bank continued to lay adequate emphasis on popularization of Internet Banking facility, both among retail & corporate users. The 'ATM Cash Back Offer' launched in August, 07 for popularizing ATM Debit Cards has elicited good response.
Date:	20th July 2007
Subject:	NET PROFIT ZOOMS TO RS.65 CRORE IN Q1
As at the end of Q1, the Bank had posted a Net Profit of Rs. 64.77 crore, which marked a six-fold jump over the corresponding figure of Rs.10.34 crore for June 06. This impressive growth in Net Profit is attributable to the increase in Net Interest & other income during the quarter. This was stated in a press release by the Bank, after the working results for Q-1 of FY 07-08 were approved by the Bank’s Board of Directors today at Indore. The Bank’s total deposits have increased from Rs.19976.48 crore as on 31st March, 07 to Rs.20845.99 crore as on 30th June 07, thereby registering an increase of Rs. 869.51 crore during the quarter. The quarter under report also witnessed an increase in the share of CASA in aggregate deposits from 28.38% in Mar.07 to 29.35% in June 07. At the end of Q1, the Bank’s advances had attained a level of Rs.15668.90 crore, thereby recording a growth of Rs.182.38 crore during the quarter. The Bank continued to aggressively market Kisan Credit Cards (KCCs) and 10429 KCCs were issued during the quarter. The Bank continued to surpass the different benchmarks under social lending. As at the end of June 07, its priority sector advances, agriculture advances, advances to weaker sections and women beneficiaries constituted 44.32%, 18.12%, 10.40% & 5.14% of its Adjusted Net Bank credit, as against the respective benchmarks of 40%, 18%, 10% & 5%. During the quarter under review, the Bank has opened 5 new branches viz. 3 in M.P., 1 in Chhatisgarh and 1 in Andhra Pradesh. Thus the number of branches of the Bank has gone up from 445 as on 31.03.2007 to 450 as on 30.06.2007. For expeditious resolution of NPAs, a Stressed Assets Resolution Centre (SARC) was opened at Bhopal during the quarter. With the operationalisation of 27 new ATMs during the quarter, the number of ATMs has increased to 262 as at the end of June 07. Besides enlarging its ATM Card base, the bank continued to lay adequate emphasis on popularization of Internet Banking facility. The e-facility for online rail & air-ticket reservation was introduced during the quarter under report. With the launch of online trading services in June 07, the bank also has the unique distinction of being the first among associates in SBI Group to offer this service. The focussed attention accorded to NPA Management resulted in decline of Gross NPAs to Rs. 293.09 crore as at the end of June 07. The Bank’s Gross & Net NPA ratios declined to 1.87% & 1.01% respectively in June 07.
Date	28th April 2007
Subject	INDORE BANK NET PROFIT UP BY 36.55%
State Bank of Indore has posted a net profit of Rs. 189.96 crore for the year ended March 2007 which is 36.55 % higher than the net profit of Rs. 139.11 crore earned in the previous year. This was stated in a press release by the Bank, after the working results for the year 2006-07 were approved by the Bank's Board of Directors today at Mumbai. As at the end of March 07, the Bank's total business level has crossed the milestone of Rs. 35000 crore. During the year, Bank's total deposits increased from Rs. 16660.71 crore to Rs. 19976.48 crore, registering a growth of 19.90 % over March 06 level. The gross advances recorded robust growth of 28.82 %, rising from Rs. 12022.10 crore in March 06 to Rs. 15486.52 crore in March 07. Bank's Agricultural advances recorded a growth of Rs.509 crore during the FY 06-07. Bank has also achieved 102 % of its annual disbursement target under Special Agricultural Credit Plan (SACP). Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 32365 KCCs. In conformity with Govt. directive, the Bank continued to accord topmost priority to financing of SMEs (Small & Medium Enterprises). During 06-07, the Bank's SME segment advances have grown by Rs. 282.56 crore, thereby registering a growth of 20.93%, which is higher than the average annual growth envisaged by Government. Concerted efforts made for NPA reduction resulted in a healthy drop in Gross NPAs. Gross NPAs have come down from Rs. 362.93 crore to Rs. 294.21 crore. Consequently the Gross NPA ratio has come down from 3.02% in March 06 to 1.90%. Similarly, the Net NPA ratio has also come down from 1.83% to 1.04%. As in the past, the Bank continued to surpass the different benchmarks under social lending. At the end of FY 07, its weaker section advances and advances to women beneficiaries constituted 10.01% & 5.03% of its Net Bank Credit against the respective benchmarks of 10% & 5%. The improved performance of the Bank can be gauged by the marked rise in two indices viz. Net Profit Per Employee and Average Business Per Employee. During 06-07 Net Profit Per Employee surged by 39.23% from Rs.2.09 lac to Rs.2.91 lac & the Average Business Per Employee recorded a substantial increase from Rs.3.68 crore to Rs. 4.77 crore. While all the branches of the Bank are RTGS enabled, the Bank had the unique distinction of being the first public sector bank to have all its branches NEFT (National Electronic Fund Transfer) enabled. Stressed Assets Resolution Center has been set up at Indore for expeditious resolution of NPAs and unlocking the funds blocked in Non- Performing Assets. During 2006-07, Bank installed 21 new ATMs, thereby taking its ATM network to 235 at the end of March 07. The Bank's customers have access to more than 6700 ATMs of the State Bank Group all over the country. During the year, Bank has opened 3 branches and it also upgraded 2 extension counters into full-fledged branches, taking the total number of branches from 440 to 445. One of these branches was opened in the state of Kerala, where Bank did not have any presence hitherto. The Bank now has presence in 14 states and 1 union territory.
Date	15th Jan 2007
Subject	INDORE BANK NET UP IN Q-3
As at the end of Dec.06, the Bank’s Net Profit has surged to a level of Rs.115.20 crore, which is 90.32% more than the profit registered during the same period last year and 91.97% higher than the profit earned upto Sep,06. This was stated in a press release by the Bank, after the working results for Q-3 2006-07 were approved by the Bank’s Board of Directors today at Indore. Net Profit per employee has also increased from Rs.1.25 lac to Rs.2.33 lac, thereby recording a 86.40% jump on Y-O-Y basis. The robust credit growth recorded during Q2 was sustained during the quarter under review. With the advances attaining a level of Rs. 14284.42 cr. at the end of Dec,06 the Bank registered a credit growth of 18.82% over Mar.06 level. With deposit accretion of Rs.1499 cr. in the current year, the Bank’s total deposits had attained a level of Rs.18159.78 cr. as at the end of Dec,06. The improved productivity level can be gauged from the fact that average business per employee has recorded a noticeable jump of 23.37%, rising from Rs.3.68cr. in Mar, 06 to Rs.4.54cr. as at the end of Dec,06. The importance accorded to agricultural financing is reflected in the growth of agricultural advances to the tune of Rs.379.83cr. in the current year as against a growth of Rs.183.31 cr. during the previous year. Under Special Agricultural Credit Plan (SACP), the Bank has already achieved 76% of its annual disbursement target. The Bank is aggressively marketing Kisan Credit Cards (KCCs) and has already issued 28762 KCCs upto Dec,06. The concerted efforts made for NPA reduction resulted in the Net NPA ratio declining from 1.83% in Mar,06 to 1.62% in Dec,06. At the end of Q3, the Bank continues to achieve the respective benchmarks under Priority Sector Advances, Agricultural advances and advances to women beneficiaries. During the quarter under review, the Bank opened 2 new branches at Ernakulam in Kerala and Seoni-Malwa in M.P. The Bank has thus made its entry in Kerala and now has a network of 445 branches spread across 14 states and 1 union territory.
News Date	23.10.2006
Subject	INDORE BANK NET PROFIT UP BY 70.24% DURING H-1
As at the end of the half-year under review, the Bank’s Net Profit has surged to a level of Rs.60.01 cr., which marks an impressive growth of 480.37% over the Q1 level of Rs10.34 cr. This was stated in a press release by the Bank, after the working results for Q2 2006-07 were approved by the Bank’s Board of Directors today at Indore. On a Y-o-Y basis, the Bank’s Net Profit is higher by 70.24% over the corresponding level of Sept.05. The Net Profit per employee has also increased from Rs.1.10 cr. in September 05 to Rs.1.81 cr. in Sept.06. The period under review also witnessed robust growth in advances, which had attained a level of Rs.13093.35 cr. at the end of Sept.06. As against the growth of 85 basis points only during the 1st quarter, the Bank’s advances have grown by 806 basis points (Rs.972 cr.) during the quarter, thereby notching up a credit growth of Rs.1063 cr. during H-1. As at the end of Sept.06, the Bank’s total deposits stood at Rs.17141.56 crore. The Bank’s C:D ratio has grown from 67.85% at the end of Q-1 to 77.75% as at the end of Sept.06. The Bank’s Agricultural advances recorded a growth of Rs.278.49 crore up to Q-2. Although the main agriculture credit off-take season is yet to commence, the Bank has already attained 43% of its annual budget under Agricultural advances in H-1. Upto Sept.06, the Bank has also achieved 48% of its annual disbursement target under Special Agricultural Credit Plan (SACP). The Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 10195 KCCs during the quarter under review. At the end of Q-2, the Bank had issued 24394 KCCs, which works out to 40.66% of the annual target. The concerted efforts made for NPA reduction resulted in a healthy drop in Gross NPAs during the period under review. As against Gross NPAs of Rs.439.05 cr. as at the end of Q1,the Gross NPAs have declined by Rs.33.29 cr during Q-2 to Rs.405.76 cr. Due to reduction in Gross NPAs during the quarter, the Gross NPA ratio stands at 3.10% as at the end of Q2. Similarly, the Net NPA ratio has come down by 37 basis points from 2.19% as at the end of Q1 to 1.82% as at the end of Sept,06. As in the past, the Bank continued to surpass the different benchmarks under social lending. At the end of Q-2, its agricultural advances and advances to women beneficiaries constituted 18.80% & 5.33% of its advances against the respective benchmarks of 18% & 5%.
News Date	23.07.2006
Subject	BUSINESS LEVEL CROSSES 30,000 CRORE MILESTONE
During the quarter under review, the Bank’s overall business level crossed the milestone of Rs. 30000 crore and attained a level of Rs. 30378.13 crore. This was stated in a press release by the Bank, after the working results for Q 1 2006-07 were approved by the Bank’s Board of Directors today at Indore. The Bank’s total deposits increased from Rs.16660.71 crore as on 31st March, 06 to Rs.18255.78 crore as on 30th June 06, thereby clocking an increase of Rs.1595.07 crore during the quarter. This impressive growth in deposits is due to substantial growth under ‘C & I’ & ‘P’ segments. At the end of Q1, the Bank has already achieved 36.28% of the annual growth budget of Rs. 3900 crore. At the end of the first quarter , the Bank’s advances attained a level of Rs.12122.35 crore and the Bank’s agricultural advances recorded impressive growth during the quarter. June 06 was observed as the Farmers’ Month and the agricultural advances of the Bank increased by Rs.191.69 crore during the quarter. The Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 14199 KCCs during the quarter. The Bank also implemented the credit-linked subsidy scheme for development/strengthening of agricultural marketing infrastructure at Krishi Upaj Mandi, Harda and many such proposals are on the anvil. The Bank continued to surpass the different benchmarks under social lending. As at the end of June 06, its priority sector advances, agriculture advances and advances to women beneficiaries constituted 42.39%, 19.77% & 5.51% of its Net Bank credit, as against the respective benchmarks of 40%, 18% & 5%. During the quarter under review, the Bank has opened a new branch at Nagpur and 2 Extension Counters have been upgraded into full-fledged branches. Thus the number of branches of the Bank has gone up from 440 as on 31.03.2006 to 443 as on 30.06.2006. The Bank has set up 5 more ATMs during the quarter, thereby taking the total number of ATMs to 219 as at the end of June 06. The ‘Micro Market Study’ a BPR initiative was launched in Indore & Pithampur in May 2006 with the twin objectives of gaining deeper market access and evolving appropriate marketing strategies. After making all the necessary provisions as per statutory requirements, the Net Profit of the Bank stood at Rs.10.34 crore. The Bank continued to lay focused attention on reduction of NPAs. During the quarter, the Bank has held 49 "Bank Adalats", wherein 314 compromise cases for Rs.1.26 crore were settled. Bank is also making vigorous efforts for recoveries in Agriculture advances and efforts are being made for making full use of the RBI OTS Scheme for SMEs, which has been extended up to Dec. 2006.
News Date	29.04.2006
Subject	STATE BANK OF INDORE DECLARES NET PROFIT OF RS. 139.11 CRORE FOR THE YEAR 2005-2006
State Bank of Indore has reported a net profit of Rs. 139.11 crore for 2005-06 which is higher than the net profit of Rs. 133.18 crore earned in the previous year. This was stated in a press release by the Bank after the audited working results of the Bank for the year 2005-06 were approved by the Bank’s Board of Directors today at Mumbai. Bank has been concentrating on growth in income from core operations. During the year, total interest income of the Bank has increased by 19% from Rs. 1109.83 crore to Rs. 1322.69 crore and interest on advances has registered an impressive growth of 36% with an increase of Rs. 224.52 crore. During the period, the Bank also made a significant profit of Rs. 78.32 crore from domestic treasury operations. 2. The Bank’s overall business level grew by 24% during the year and the total business level has crossed the milestone of Rs. 28000 crore. The Bank’s total deposits increased from Rs. 13807.07 crore to Rs. 16660.71 crore during the year, thereby registering more than 20% growth and gross advances increased from Rs. 9253.45 crore to Rs. 12022.10 crore during the year registering a growth of 30%. The advances to Priority Sector increased by Rs. 1106.78 crore during the year, reaching a level of Rs. 5189.82 crore forming 43.60% of Net Bank Credit which is well above the benchmark of 40%. The Bank's advances to agriculture increased from Rs. 1666.43 crore to Rs. 2156.58 crore forming 18.12% of Net Bank credit against benchmark of 18%. 3. The Bank has Introduced “No Frills” Savings Bank Account and has also established a Liability Centre in Indore for opening bulk Savings Bank Accounts. Greater thrust is being laid on enlarging the deposit and clientele base. The bank has also introduced Centralised Processing Centres for housing/ personal loans and for loans to SME’s. Focused attention is also being given for increasing Bank’s SME and Agriculture segment advances. The Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 27406 KCCs during the year. The disbursement under Special Agriculture Credit Plan amounting to Rs. 814.73 crore forms 119% of the plan outlay. Uptil now, the Bank has organized 13276 Self Help Groups of which 7315 groups are exclusively of women. During the year, the Bank has initiated several steps for recovery of NPAs. 4. The Bank has also completed the ambitious Core Banking Solutions project in the first week of Nov. 2005- well before the scheduled date and the Bank has embarked on offering technology-leveraged products and services to its customers. Bank has introduced Internet banking facility for the retail as well as corporate clients at identified centres and Bank has also introduced RTGS facility in 315 branches in Metro, Urban and Semi-urban centres. The Bank is participating in the Cyber Treasury of the Madhya Pradesh Government. The Bank has so far installed 214 ATMs and all the branches of the Bank are networked to more than 5500 State Bank Group ATMs spread throughout the country. 6 new branches were opened during 2005-06 including 4 in Madhya Pradesh taking the total number of branches to 440. PROSPECTS FOR THE YEAR 2006-2007 For the financial year 2006-07, the Bank has targeted a deposit growth of Rs. 3900 crore and credit expansion of Rs. 3250 crore. The Bank plans to install 86 more networked ATMs taking the total number of ATMs to 300 by the end of March 2007.
News Date	20.01.2006
Subject	STATE BANK OF INDORE DECLARES NET PROFIT OF RS. 60.53 CRORE UPTO THE 3RD QUARTER OF 2005-06
State Bank of Indore has reported net profit of Rs. 60.53 crore up to the 3rd Quarter of the current year 2005-06. The Managing Director of the Bank Shri C. Narasimhan stated this in a press release, after the audited working results of the Bank for the Quarter ended 31st December 2005 were approved by the Board of Directors of the Bank today at Head Office, Indore. On Y-o-Y basis, the Operating Profit of the Bank has grown by 9.24% up to Dec. 2005. In the current financial year, Bank has been concentrating on growth in income from core operations. Total other income excluding profit on sale of investments has increased by 12.03% from Rs. 102.55 crore in Dec. 2004 to Rs. 114.89 crore in Dec. 2005. During the period, the profit on sale of investments has also increased by more than 10 times to Rs. 50.35 crore against Rs. 4.42 crore achieved up to Dec. 2004. Bank has focused on improving its competitiveness in core operations, as a result of which Bank’s interest spread on advances, has improved by 26 basis points during the year. 2. The Bank’s overall business level grew by 29.93% over the corresponding period of the previous year. Bank’s total business level has crossed the milestone of Rs. 26000 crore. Up to Dec. 05, Bank’s advances have grown by 23.32% over March 2005. Focused attention is being given for increasing Bank’s SME and Agriculture segment advances. Increasing the deposits’ customers base is also a priority area for the Bank. In this connection, the Bank has introduced “No Frills Account” in Savings Bank and has also set a Liability Centre for opening bulk Savings Bank Accounts. 3. The Bank has also completed the ambitious Core Banking Solutions project in the first week of Nov. 2005- well before the scheduled date and the Bank has embarked on offering technology leveraged product and services to its customers. Bank has introduced Internet banking facility for the retail as well as corporate clients in all its branches and Bank has also introduced RTGS facility in all Metro branches. The Bank has so far installed 208 ATMs and all the branches of the Bank are networked to more than 5500 State Bank ATMs spread throughout the country.
News Date	20.10.2005
Subject	STATE BANK OF INDORE DECLARES NET RS. 35.25 CRORE UPTO THE END OF FIRST HALF OF 2005-06
State Bank of Indore has reported net profit of Rs. 35.25 crore for the end of first half of the current fiscal 2005-06. This has been stated in a press release by the Managing Director of the Bank Shri C. Narasimhan after approval of the audited working results of the Bank for the first half ended 30th September 2005 by the Board of Directors of the Bank today at Mumbai. The Bank mainly concentrated on income from core operations. The boost in its advances has increased the income from interest on advances. During the first half of the current fiscal 2005-2006 the interest income from advances has registered 35%growth over corresponding period last year. Total other income excluding profit on sale of investments has increased by 16.86% and reached Rs. 74.59 crore against Rs. 63.83 crore. During the period the profit on sale of investments also increased by 90% and reached to Rs. 29.91 crore against Rs. 15.75 crore achieved at corresponding period last year. The Bank’s overall business level grew by 31% over the corresponding period of the previous fiscal. The level as at September 2005 was Rs. 24700 crore as against Rs. 18860 crore in September 2004. This was aided by robust growth in deposits and advances. Focused attention is being given for marketing of various retail products to enable the Bank to get a strong base in this fast expanding business. The Bank had organized a deposit mobilization campaign during the first half of current fiscal to increase saving bank clientele base and also to increase the low cost deposits. The customer base has increased by 1.75 lac. The Bank has also recently introduced a new initiative to open salary accounts of the employees of various institutions at one branch in Indore. The Bank has so far networked 308 branches under Core Banking Project and installed 201 ATMs networked with more than 5500 ATMs of SBI Group.
News Date	21.07.2005
Subject	STATE BANK OF INDORE DECLARES NET RS. 19.24 CRORE- FOR Q-1 OF 2005-2006
State Bank of Indore has declared net profit of Rs. 19.24 crore for the first quarter of the current fiscal 2005-06. This has been stated in a press release by the Managing Director of the Bank Shri C. Narasimhan after approval of the audited working results of the Bank for the first quarter ended 30th June 2005 by the Board of Directors of the Bank today. Owing to declining treasury profits, the Bank mainly concentrated on income from core operations and accordingly took appropriate steps timely to boost the advances portfolio so as to increase the income from interest on advances. Accordingly, during the first Quarter of the current fiscal 2005-2006 the interest income from advances has registered 30%growth over corresponding quarter last year. Total other income excluding profit on sale of investments has increased by 28.75% and reached at Rs. 41.87 crore against Rs. 32.52 crore of the corresponding quarter last year. He further stated that the net interest income of the Bank has grown up from Rs. 111.35 crore of similar period last year to Rs. 134.90 crore this quarter registering a growth of 21%. Shri Narasimhan further stated that the Bank’s overall business has gone up at the end of June 2005 to the level of Rs. 23080 crore, registering a robust growth of 26% against corresponding period last year level of Rs. 18346 crore. The Bank’s total advances increased from Rs. 9253 crore of March 2005 to Rs. 9568 crore at the end of June 2005, registering a growth of Rs. 315 crore. The Bank has been constantly exceeding the benchmark of 40% for lending to priority sector. Financing to Small Scale Industries, Small Business Units, financing for construction of houses particularly rural housing and Agriculture Finance are the thrust areas of the priority sector lending of the Bank. The Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 9456 KCCs during the first quarter of the current fiscal. The Bank has so far networked 128 branches under Core Banking Project and installed 186 ATMs networked with more than 5300 ATMs of SBI Group.
News Date	02.05.2005
Subject	STATE BANK OF INDORE DECLARES NET RS. 133.18 CRORE FOR 2004-2005
State Bank of Indore has declared net profit of Rs. 133.18 crore for the year 2004-05. This has been stated in a press release by the Managing Director of the Bank Shri C. Narasimhan after approval of the audited working results of the Bank for the year 2004-05 by the Board of Directors of the Bank at Delhi today. Owing to declining treasury profits, the Bank mainly concentrated on income from core operations and accordingly took appropriate steps timely to boost the advances portfolio so as to increase the income from interest on advances. Accordingly, during the year the interest income from advances has increased by Rs. 125.17 crore to Rs. 621.52 crore against previous year's Rs. 496.35 crore recording 25.22% growth. Total other income excluding profit on sale of investments has increased by 19.65% and reached at Rs. 160.90 crore against Rs. 134.47 crore of the previous year. 2. Shri Narasimhan further stated that during the year, the Bank registered a robust growth of 35% in the overall business taking the level to Rs. 22800 crore as at the end of March 2005 against previous year's Rs. 16900 crore. Shri Narasimhan stated that the Bank’s total deposits increased from Rs. 10511.49 crore to Rs. 13807.07 crore during the year clocking 31.35% growth. The Bank's net advances increased from Rs. 6406.06 crore to Rs. 9040.65 crore during the year registering a growth of 41.13%. The advances to Priority Sector increased by Rs. 1010.03 crore during the year, reaching a level of Rs. 4156.28 crore forming 45.51% of Net Bank Credit which is well above the benchmark of 40%. The Bank's advances to agriculture increased from Rs. 1196.38 crore to Rs. 1670.55 crore forming 18.29% of Net Bank credit against benchmark of 18%. The Bank continued to aggressively market the Kisan Credit Cards (KCCs) and issued 36114 KCCs during the year. The disbursement under special Agricultutre credit plan amounting to Rs. 793.86 crore forms 145% of the plan outlay. Up till now, the Bank has organized 9102 Self help Groups of which 6182 groups are exclusively of women. Financial assistance amounting to Rs. 9.95 crore has so far been provided to 1771 eligible groups.
News Date	05.02.2005
Subject	The Bond Issue of Rs. 200 crore fully subscribed within an hour of opening on 1st Feb 2005 – Shows the level of public confidence in Indore bank Indore Bank has surpassed the annual budget of advances in Q-3 by recording a growth of Rs. 2000 crore in advances. At the Technology front - Indore bank aims at networking of all its branches through core banking by September 2005
Shri T.S. Bhattacharya, MD State Bank of Indore today stated in a press conference at Indore that the Bank’s Bond issue of Rs. 200 crore has been fully subscribed within one hour of its opening on 1st February 2005, which shows the level of public confidence in the Bank and an excellent rating AAA stable by CRISIL – a prime rating Agency in the country. The Bank has brought out this issue with a view to comply with the capital adequacy requirements for the increased level of advances. The Bank has implemented various schemes for increasing its core operations and advances growth is being emphasized upon. The growth in capital by way of bonds issue will substantially improve the capital adequacy ratio well above the benchmark. Detailing other plans of the Bank Shri Bhattacharya stated that the Bank has at its topmost priority the task of networking of all its branches by September 2005 whereby a customer of a branch will become customer of the Bank and will be able to transact from any of the branches. Shri Bhattacharya stated that the Bank has achieved annual budget of advances within 8 moths period during the current fiscal. The present level of advances is Rs. 8677 crore with a robust growth of Rs. 2000 crore over March 2004. At deposits front also bank has been able to move upwards as per its plans on month to month basis and as of now the total deposits of the Bank have cross the level of Rs. 12,000 crore. Thus the total turnover of the Bank has crossed the mark of Rs. 21,000 crore against the March 2004 level of Rs. 17,000 crore. The credit expansion is the highest in percentage terms (i.e. 29%) amongst all the Associate Banks of State Bank Group. The Bank expects that at the end of the current fiscal the business level of the bank will be well above the mark of Rs. 22,000 crore. Further, Shri Bhattacharya added that the Bank has earned a net profit of Rs. 64.12 crore for the nine months period ended on 31st December 2004. He advised that the profits of all banks are hit by shrinking treasury profits and State Bank of Indore is not an exception. However, profits from core operations have increased substantially. With effect from 5th February 2005, the Bank has implemented Cash Management product, first of its kind among Associate Banks. The introduction of the product will enable the Bank to increase the profitability by ensuring with Cash for Cash holding at branches and efficient funds management. The Bank, during the period, has further launched several innovative products like – "School Mitra" for financing the needs of medium and small sized schools, Bank on Schools/Offices, Hospitals for purchase of vehicles Scheme ("BOSS"), "Easy Drive" pre sanctioned car loans to customers and Gold Card scheme for the Exporters, Vishist Jan Plus scheme to give financial assistance to the handicapped persons to give employment and confidence to this group of society. The Bank’s growth in retail lending is 25% uptillnow over the March 2004 level. The retail lending of the Bank was at Rs. 3629 crore in March 2004, which touched the level of Rs. 4525 crore.