SOUTH INDIAN BANK = UPDATE DATED 30 09 2010 = SMALL BANK ON FAST EXPANSION MODE = GOOD PERFORMANCE

SOUTH INDIAN BANK

UPDATE DATED 30.09.2010

RESULTS FOR Q1 FY11

VS Q4 FY10 & Q1 FY 10

South Indian Bank is a comparatively small Bank, which is improving its performance every quarter.

Its Interest on Advances is 421 Cr – which is  3.73% more than previous quarter and 16.48% more than corresponding Qtr.

Total Income is Rs.581.78 Cr – which is 4.33% more than previous qtr and 11.61% more than corresponding Qtr.

Net Profit is Rs.58.44 Cr – which is       51.32% more than previous qtr but  2.78% less than corresponding Qtr.

Capital Adequacy Ratio is quite good at 14.65%

Basic EPS for the qtr is Rs.5.17 which is higher than last qtr’s EPS of Rs.3.42 but slightly less than corresponding qtr’s EPS of Rs.5.32.

The  % of Gross/Net NPA      at 0.39 is quite healthy.

But, Return on Assets is very low at 0.23 and needs improvement.

Current Market price is around Rs.24.

The Bank is targeting a credit growth of around 25% this year. It is expecting to maintain NIMs of around 2.8%.

From 580 branches at last year end – current year may see an addition of 60 more branches.

The Bank may see good upside from current levels, as it progresses along its expansion path and continues to improve its performance.

RESULTS IN FIGURES :-

SOUTH INDIAN BANK	30-Jun-10	31-Mar-10	Dif%1	30-Jun-09	Dif%2
Interest on Advances	42113	40599	3.73	36155	16.48
Income on Investments	10957	10077	8.73	9308	17.72
Income on Balances With RBI	942	704	33.81	1063	-11.38
Interest Earned	54012	51380	5.12	46526	16.09
Other Income	4166	4385	-4.99	5598	-25.58
Total Income	58178	55765	4.33	52124	11.61
Interest Expended	37276	43492	-14.29	31283	19.16
Employees Cost	6747	3311	103.78	6830	-1.22
Other Opertng Expenses	3715	3802	-2.29	3320	11.9
Operatng Expenses	10462	7113	47.08	10150	3.07
Operating Profit	10440	5160	102.33	10691	-2.35
Provisions & Contingencies	1670	-		1043	60.12
Exceptional Items	-	-308		-
Profit before tax	8770	5468	60.39	9648	-9.1
Tax Expense	2926	1606	82.19	3637	-19.55
Net Profit After Tax	5844	3862	51.32	6011	-2.78
Net Profit	5844	3862	51.32	6011	-2.78
Face Value.Rs.	10	10	0	10	0
Paid-up Equity Share Capital	11301	11301	0	11301	0
Dividend (%)	-	40		-
Capital Adequacy Ratio	14.65	14.73	-0.54	13.93	5.17
Basic EPS B EI	5.17	3.42	51.17	5.32	-2.82
Diluted EPS B EI	5.15	3.4	51.47	5.32	-3.2
Gross/Net NPA	6476	6157	5.18	8325	-22.21
% of Gross/Net NPA	0.39	0.39	0	0.68	-42.65
Return on Assets	0.23	0.16	43.75	0.31	-25.81
Publicholding (%)	100	100	0	100	0

ANNOUNCEMENTS

TO THE NSE

02-09-2010    The South Indian Bank Limited has informed the Exchange that the Board of Directors of the Bank at its Meeting held on August 31, 2010 has decided to fix September 24, 2010 as Record Date for taking the list of shareholders eligible for sub-divided equity shares of face value Re. 1 each.

02-09-2010    The South Indian Bank Limited has informed the Exchange that Dr. C.J.Jose, Director has resigned from the office as Director and he ceases to be a member of the Board w.e.f. August 31, 2010. Further the Board of Directors at its meeting held on August 31, 2010 has appointed: 1) Sri Amitabha Guha, 2) Sri K. Thomas Jacob, as additional Directors of the Bank. They will hold office up to the date of the next Annual General Meeting of the Bank.

16-06-2010    The South Indian Bank Limited has informed the Exchange that the Annual General Meeting of the shareholders of the Bank is scheduled to be held on July 14, 2010. The Board of Directors of the Bank has recommended a Dividend of Rs.4/- per equity share of face value Rs.10/-. The dividend, if declared at the General Meeting will be paid to the shareholders on and from July 23, 2010. Accordingly, the date for issue of dividend warrants will be July 23, 2010.

30-04-2010    The South Indian Bank Limited has informed the Exchange that the Board of Directors at their meeting held on April 30, 2010 has recommended a dividend of Rs.4 per share (40%) for the year ended March 31, 2010 (previous year Rs.3 per share (30%)), subject to the approval of the members at the ensuing Annual General Meeting.

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MAHINDRA SATYAM = FINALLY DECLARES RESULTS UPTO FY 10 = Q1 AND Q2 WILL REFLECT CURRENT PERFORMANCE = ROAD AHEAD CAN BE MUCH BETTER =

MAHINDRA

 SATYAM

Audited Financial results

for FY 2009 and FY 2010 

UPDATE DT 30.SEP. 2010

Hyderabad, September 29, 2010: Mahindra Satyam today announced the audited financial results for FY 2009 (y/e March 31, 2009) and FY 2010.

With this a Big Suspense regarding its current Financials is mostly cleared. However, since the declared results are only upto Y/E 31.03.2010, they are yet to represent the current states as at the end of Q1 amd Q2 of FY11.

The future is of course bound to be an upward Journey, from now, with the Mahindras firmly in the saddle and with M'Satyam having largely come out of its troubled Past.

Key Highlights

The key financial numbers are as below:

Revenue was Rs 8812.6 Cr and Rs  5481.0 Cr in FY 09 and FY 10 respectively.

Loss after tax was Rs 8176.8 Cr and Rs 124.6 Cr in FY 09 and FY 10 respectively.

Due to the restatement efforts and the extent of the fraud, there are certain exceptional items in the financial statements.

Exceptional items were Rs 7992.0 Cr and Rs  416.9 Cr in FY 09 and FY 10 respectively.

Loss after tax adjusted for exceptional items was Rs 184.8 Cr for FY  09 and Profit after Tax was Rs 292.3 Cr in FY 10.

Cash and bank balances were Rs 2176.8 Cr as on 31st March 2010.

The loan balance as of 31st March 2010 was Rs 42 crores.

For FY10, Mahindra Satyam has reported an Ebitda margin of 8.3% before exceptional items and 1% after exceptional items. The margins are expected to go up with further accretion of clients.

The results for Q1 and Q2 may show some more improvement in all parameters. The profit margins for Q1 and Q2 will be watched with interest by the market as the present margins are unlikely to satisfy the market.

The merger process with Tech Mahindra may begin after Satyam announced its first and second quarter results for the current fiscal on 15 November and it may take some 9-12 months for the merger process to be completed.

However, it is not yet decided whether Satyam should merge into Tech Mahindra or vice versa.

Further excerpts from their Press conference on 29thSep,2010 are as follows :

….From May 7, 2009, when we were legally allowed to access the company records, to the period we are talking (up to March 31, 2010), we added 44 new clients. In terms of geographies, we have had success in all the three predominant markets – the US, Europe and APAC or emerging markets. One of our largest losses was in financial services and one of our major additions was also there. We added large accounts in North America, we have also added one of the largest banks in Germany. As of March 31, 2010, there have been additions of new clients in manufacturing and health care. In the public sector, there has been a fair amount of traction

….. One of the most prestigious projects in the world right now is the UID project and we are part of that.

….. We are one of the first few in the world to deliver a cloud-based application from one central location to all stadia and all locations for FIFA. …..We’re 27,000 employees from the earlier 45,000. We’re actively going to all the business schools and actively hiring through our ‘Buddy Referral Programme’.

……The company is generating cash. We are coming close to the average growth of the industry. I think it will take another one-and-a-half years.

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KARUR VYSYA BANK= UPDATE DT 27 SEPT 2010 = GOOD Q1 RESULTS = ATTRACTIVE BONUS & RIGHTS = GOOD FUTURE

Karur Vysya Bank Limited

NSE Symbol   KARURVYSYA

UPDATE AS ON 27 SEPT 2010

RESULTS REVIEW FOR Q/E JUNE 2010

Net profit is Rs.84.48 Crore as against Rs.70.35 crore for the corresponding quarter of FY10, registering a growth of 20.09%.

Operating Profit is Rs.130 crore up from Rs.94.17 crore, posting a growth of 38.05%.

Total income is Rs.544.27 crore up from Rs.487.37 crore, registering a rise of 11.67%.

Total interest income is Rs.492.08 crore up from Rs.406.90 crore, a growth of 20.93%. Interest on advances recorded a growth of 16.57% to Rs.371.60 crore from Rs.318.78 crore.

Net Interest Margin stood at 3.37% as against 2.78% of the previous fiscal.

Net NPA is a healthy 0.17% .NPA Provision coverage ratio is 87.53%.

Total deposits as on 30.06.2010 stood at Rs.20274 Crore as against Rs.15253 Crore, a year ago recording a growth of 32.92%. Total advances stood at Rs.14191 Crore, registering a growth of 28.16% over Rs.11073 Crore a year ago. The CD Ratio of the Bank stood at 70%.

The capital adequacy ratio is good, at 14.52% as per Basel II norms (Basel I – 12.70%).

KVB aims to reach a business level of Rs.42052 Crore by end-March 2011. The network of the Bank will be expanded to 385 branches by March 2011. The Bank has recently launched its new products viz KVB’s Prestige Savings account and Gift Card schemes.

BONUS SHARES & RIGHT SHARES

Karur Vysya Bank has decided : (1) To issue Bonus shares in the ratio of 2:5 (i.e. Two bonus shares of Rs. 10/ - each will be issued for every 5 equity shares of Rs. 10/ - each held by the shareholders/ beneficial owners as on the record date. (2) To issue Rights equity shares in the ratio of 2:5 (Two rights shares for every 5 shares held by the shareholders and beneficial owners) as on the record date to be fixed at a later date. The rights issue ratio is on the post bonus capital. The price per right share will be Rs.150/- (i.e. Face value Rs.10/- with a premium of Rs. 140/- per share).

PS : The Bonus issue will raise the current Equity of Rs. 54.44 Cr by 2/5ths to 76.22 cr and on this, a further right issue in the ratio of 2/5 will raise the equity to 106.71 cr approximately – assuming that the rights issue will be fully subscribed. The rights issue is attractively priced at Rs.150 per share. (CMP :Rs.563). The cash accrual by the right shares will enhance the loanable funds of the bank and result in greater profitability in due course.

For medium to long term Investors, KVB is a good addition to their Portfolio.

KVB RANKED AS MOST EFFICIENT MID-SIZED BANK

Business Today in association with KPMG has ranked Karur Vysya Bank as the Most Efficient Mid-sized bank for the year 2009. Judged on the parameters of cost / income ratio, cost / aerage asset ratio, operating profit / employee, absolute increase in return on assets and increase in operating profit / total income, KVB has been ranked at first position. Incidentally, Karur Vysya bank has also been ranked at No. 2 position among the mid-sized bank category (i.e. banks with balance sheet size less than or equal to Rs. 24000 cr.). Also this is the third time that Karur Vysya Bank has been ranked as the Most Efficient Bank. The bank had been ranked so during the years, 2006 and 2007 in the small banks category

RECOGNITION TO

TECHNOLOGY INITIATIVES OF KVB

KVB has been conferred with the Gold CIO Award in the more than Rs. 1000 cr. category of the Enterprise Connect Awards ’09 instituted by CIOL (Cybermedia India Online Limited)-Dataquest. The award recognizes the “leadership combined with vision and mission in deploying information technology for business benefits through pioneering and innovative use with and outside the organization.”

Having migrated to the Core Banking Solution platform in 2005, KVB now provides convenience banking services like Any Branch Banking, Internet Banking, Utility Bills Payment, booking of air and train tickets on-line using VISA Debit Card, VISA Bill payment through Net Banking and Debit card are some of the other initiatives undertaken by the bank.

Recently, the bank had been awarded the "Banking Technology Excellence Awards - 2008" for Best use of IT for Customer Service in Semi-Urban and Rural Areas by Institute for Development and Research in Banking Technology, Hyderabad.

KARUR VYSYA	30-Jun-10	31-Mar-10	Dif%1	31-Dec-09	30-Sep-09	30-Jun-09
Interest on Advances	37160	34234	8.55	34391	33308	31878
Income on Investments	12044	11473	4.98	10617	9253	8285
Income on Balances With RBI	4	7	-42.86	6	1	527
Others	-	871		108	835	-
Interest Earned	49208	46585	5.63	45122	43397	40690
Other Income	5219	4268	22.28	6571	5812	8047
Total Income	54427	50853	7.03	51693	49209	48737
Interest Expended	32146	30167	6.56	30005	29485	29648
Employees Cost	5032	4864	3.45	3837	3235	3341
Other Operating Expenses	4249	3486	21.89	4445	4776	5831
Operating Expenses	9281	8350	11.15	8282	8011	9172
Operating Profit	13000	12336	5.38	13406	11713	9917
Provisions	340	961	-64.62	3143	2299	-1618
Profit before tax	12660	11375	11.3	10263	9414	11535
Tax Expense	4212	1484	183.83	2676	324	4500
Net Profit After Tax	8448	9891	-14.59	7587	9090	7035
Net Profit	8448	9891	-14.59	7587	9090	7035
Face Value .Rs.	10	10	0	10	10	10
Paid-up Equity	5444	5444	0	5396	5395	5395
Reserves	-	156554		-	-	-
Dividend %	-	120		-	-	-
Capital Adequacy Ratio	12.7	12.48	1.76	13.15	13.32	13.11
Basic EPS before Extraordinary items	15.52	18.27	-15.05	14.06	16.85	13.04
Gross/Net NPA	2431	3095	-21.45	2423	2602	2651
% of Gross/Net NPA	0.17	0.23	-26.09	0.19	0.22	0.24
Return on Assets	1.5	1.86	-19.35	1.54	1.99	1.64
Public holding (%)	96.43	96.43	0	96.36	96.32	96.27

ANNOUNCEMENTS

TO THE NSE

24-09-2010        Karur Vysya Bank Limited has informed the Exchange that on September 22, 2010, the Bank has opened the following 351st branch: The Karur Vysya Bank Limited, 12-B, Zone II, M.P.Nagar, Bhopal.

07-09-2010        Karur Vysya Bank Limited has informed the Exchange that the Board of Directors of the Bank in its meeting held on September 07, 2010, fixed September 18, 2010 as Record Date for the purpose of ascertaining the shareholders and beneficial owners who are entitled for the Bonus Shares.

07-09-2010        Karur Vysya Bank Limited has informed the Exchange that the Board of Directors at its meeting held on September 07, 2010 decided to increase the aggregate of Foreign investment cap from all sources (FDI/FII/NRI) from the existing limit of 24% to 35% (subject to the regulatory policy guidelines of February 2003 on acknowledgement for acquisition/transfer). The Board has decided to seek the approval of the shareholders and the Reserve Bank of India and other authorities, if any, for the same in due course.

07-09-2010        Karur Vysya Bank Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on September 07, 2010 has decided as under: (1) To issue Bonus shares in the ratio of 2:5 (i.e. Two bonus shares of Rs. 10/ - each will be issued for every 5 equity shares of Rs. 10/ - each held by the shareholders/ beneficial owners as on the record date. (2) To issue Rights equity shares in the ratio of 2:5 (Two rights shares for every 5 shares held by the shareholders and beneficial owners) as on the record date to be fixed at a later date. The rights issue ratio is on the post bonus capital. The price per right share will be Rs.150/- (i.e. Face value Rs.10/- with a premium of Rs. 140/- per share).       

18-08-2010        Karur Vysya Bank Limited has informed the Exchange that " the Bank is today, launching the Travel Card at Our Kalbadevi branch, Mumbai."

30-06-2010        Karur Vysya Bank Limited has informed the Exchange that the bank in its ALCO Meeting held on June 30, 2010 decided to fix the Base Rate at 8.50% p.a. effective from July 01, 2010.

08-06-2010        Karur Vysya Bank Limited has informed the Exchange that the Bank has entered into an MOU with "M/s UTI Mutual Fund AMC" for distribution of Mutual Fund products through the Bank's Branches.

21-05-2010        Karur Vysya Bank Limited has informed the Exchange that the Board of Directors at their meeting held on May 20, 2010 has recommended dividend of 120% i.e Rs.12/- per share on the face value of Rs.10/- each for the year 2009-10.

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