2006 2007

ASSETS RUPEES IN MILLIONS

CASH AND BALANCES WITH TREASURY BANKS 228.374 753.845
BALANCES WITH OTHER BANKS 645.65 52.55
LENDINGS TO FINANCIAL INSTITUTIONS 1,079.29 2,855.58
INVESTMENTS 1,730.87 5,408.43
ADVANCES 1,424.37 8,029.25
OPERATING FIXED ASSETS 385.074 597.515
DEFERRED TAX ASSETS
OTHER ASSETS 202.758 423.62

TOTAL ASSETS 5,696.38 18,120.79

LIABILITIES
BILLS PAYABLE 3.899 384.179
BORROWINGS 1,748.60
DEPOSITS AND OTHER ACCOUNTS 2,526.27 9,464.79
SUB-ORDINATED LOANS
LIABILITIES AGAINST ASSETS SUBJECTED TO FINANCIAL LEASE
DEFERRED TAX LIABILITIES 0.105 39.867
OTHER LIABILITIES 93.328 181.776

TOTAL LIABILITIES 2623.603 11819.21

EQUITY
SHARE CAPITAL 3,000.00 4,500.00
RESERVES 18.795 1631.395
ACCUMULATED LOSS/ UNAPPROPRIATED PROFIT 75.179 192.744

DEFICIT ON REVALUATION OF ASSETS -NET OF TAX -21.198 -22.563

3,093.97 6,324.14
TOTAL EQUITIES 5,696.38 18,120.79
 2008 2009 2006 2007 2008 2009 2006 2007
RUPEES IN MILLIONS VERTICAL ANALYSIS HORIZONTAL ANALYSIS
1,349.65 1923.526 4.01% 4.16% 5.44% 5.04% 100% 330.1%
65.58 724.802 11.33% 0.29% 0.26% 1.90% 100% 8.1%
200 1,433.817 18.95% 15.76% 0.81% 3.76% 100% 264.6%
5,094.61 12,446.033 30.39% 29.85% 20.54% 32.60% 100% 312.5%
15,758.68 18,503.815 25.00% 44.31% 63.54% 48.47% 100% 563.7%
927.882 1,570.754 6.76% 3.30% 3.74% 4.11% 100% 155.2%
360.893 381.016 1.46% 1.00%
1,045.52 1,189.612 3.56% 2.34% 4.22% 3.12% 100% 208.9%

24,802.82 38,173.375 100.00% 100.00% 100.00% 100.00% 100% 318.1%

75.963 213.209 0.07% 2.12% 0.31% 0.56% 100% 9853.3%

1,869.94 1,554.801 9.65% 7.54% 4.07%
16,616.47 31,307.488 44.35% 52.23% 66.99% 82.01% 100% 374.7%

0.002% 0.22% 100% 37968.6%

420.328 1,043.477 1.64% 1.00% 1.69% 2.73% 100% 194.8%

18982.697 34,118.975 46.06% 65.22% 76.53% 89.38% 100% 450.5%

5,000.00 5,000.000 52.67% 24.83% 20.16% 13.10% 100% 150.0%

1314.828 1,064.828 0.33% 9.00% 5.30% 2.79% 100% 8679.9%
-182.097 -1,998.887 1.32% 1.06% -0.73% -5.24% 100% 256.4%

-312.611 -11.541 -0.37% -0.12% -1.26% -0.03% 100% 106.4%

6,132.73 4,065.941 54.31% 34.90% 24.73% 10.65% 100% 204.4%
24,802.82 38,173.375 100.00% 100.00% 100.00% 100.00% 100% 318.1%
 2008 2009
HORIZONTAL ANALYSIS
591.0% 842.3%
10.2% 112.3%
18.5% 132.8%
294.3% 719.1%
1106.4% 1299.1%
241.0% 407.9%

515.7% 586.7%

435.4% 670.1%

1948.3% 5468.3%

657.7% 1239.3%

450.4% 1118.1%

723.5% 1300.5%

166.7% 166.7%
6995.6% 5665.5%
-242.2% -2658.8%

1474.7% 54.4%
198.2% 131.4%
435.4% 670.1%
 TOTAL REVENUE
TOTAL REVENUE

711,420

429,685

140,683

1 2 3 4

-1,208,532
 PROFIT/(LOSS) BEFORE TAXATION
500000

0
1 2 3 4

-500000

PROFIT/(LOSS) BEFORE TAXATION

-1000000

-1500000

-2000000

-2500000
 TOTAL COMPREHENSIVE INCOME
500,000

0
1 2 3 4

-500,000

TOTAL COMPREHENSIVE INCOME

-1,000,000

-1,500,000

-2,000,000

-2,500,000
PROFIT AND LOSS ACCOUNT

MARK-UP/RETURN/INTEREST EARNED
MARK-UP/RETURN/INTEREST EXPENSED
NET MARK-UP/ INTEREST INCOME
PROVISION AGAINST NON-PERFORMING LOANS AND ADVANCES
PROVISION FOR DIMINUTION IN THE VALUE OF INVESTMENTS
BAD DEBTS WRITTEN OFF DIRECTLY

NET MARK-UP/INTEREST (LOSS)/ INCOME AFTER PROVISIONS

NON MARK-UP/INTEREST INCOME

FEE, COMISSION AND BROKERAGE INCOME
DIVIDEND INCOME
GAIN/LOSS FROM DEALING IN FOREIGN CURRENCIES
GAIN ON SALE OF SECURITIES-NET
UNREALIZED LOSS ON REVALUATION OF INVESTMENTS CLASSIFIED AS HELD FOR TRADING
OTHER INCOME
TOTAL NON MARK-UP/INTEREST INCOME
TOTAL REVENUE
NON MARK-UP INTEREST EXPENSES
ADMINISTRATIVE EXPENSES
OTHER PROVISIONS/WRITE-OFFS
OTHER CHARGES
TOTAL NON MARK-UP INTEREST EXPENSES

EXTRA ORDINARY / UNUSUAL ITEMS

PROFIT/(LOSS) BEFORE TAXATION
TAXATION
CURRENT
PRIOR
DEFERRED

PROFIT/(LOSS) AFTER TAXATION

OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
BASIC EPS(IN RUPEES)
DILUTED EPS(IN RUPEES)
 2006 2007 2008 2009 2006 2007 2008 2009
RUPEES IN '000' VERTICAL ANALYSIS
142802 617,854 2,471,982 3,514,363 101.51% 86.85% 575.30% -290.80%
-23309 -252,338 -1,585,875 -2,877,797 -16.57% -35.47% -369.08% 238.12%
119,493 365,516 886,107 636,566 84.94% 51.38% 206.22% -52.67%
-24 -623,202 -1,816,580 -0.02% -145.04% 150.31%
-224,207 18.55%

-24 -623,202 -2,040,787 -0.02% -145.04% 168.86%

119,469 365,516 262,905 -1,404,221 84.92% 51.38% 61.19% 116.19%

6,975 79,135 141,594 0.98% 18.42% -11.72%

35,118 107,615 33,120 4.94% 25.05% -2.74%
1,706 -29,706 -52,752 0.24% -6.91% 4.36%
295,672 5,311 65,534 41.56% 1.24% -5.42%
-6,797 -4,423 -0.96% 0.37%
13,230 4,425 12,616 1.86% 1.03% -1.04%
21214 345,904 166,780 195,689 15.08% 48.62% 38.81% -16.19%
140,683 711,420 429,685 -1,208,532 100.00% 100.00% 100.00% 100.00%

383,529 774742 1,064,723 53.91% 180.30% -88.10%

973 2217 12,331 0.14% 0.52% -1.02%

90654 384,502 776959 1,077,054 64.44% 54.05% 180.82% -89.12%
326,918 -347,274 -2,285,586 45.95% -80.82% 189.12%

50029 326,918 -347274 -2,285,586 35.56% 45.95% -80.82% 189.12%

-11,982 -84254 -35,799 -1.68% -19.61% 2.96%

-42,013 4105 72,359 -5.91% 0.96% -5.99%
-42,758 236015 182,236 -6.01% 54.93% -15.08%
-43945 -96,753 155866 218,796 -31.24% -13.60% 36.27% -18.10%
6,084 230,165 -191408 -2,066,790 4.32% 32.35% -44.55% 171.02%

6,084 230,165 -191408 -2,066,790 4.32% 32.35% -44.55% 171.02%

0.57 -0.38 -4.13
0.57 -0.38 -4.13
2007 2008 2009
HORIZONTAL ANALYSIS
100% 400.09% 568.80%
100% 628.47% 1140.45%
100% 242.43% 174.16%

100% 71.93% -384.17%

100% 1134.55% 2030.02%

100% 306.44% 94.31%
100% -1741.27% -3092.15%
100% 1.80% 22.16%
100% 0.00% 65.07%
100% 33.45% 95.36%
100% 48.22% 56.57%
100% 60.40% -169.88%

100% 202.00% 277.61%

100% 227.85% 1267.32%

100% 202.07% 280.12%
100% -106.23% -699.13%

100% -106.23% -699.13%

100% 703.17% 298.77%

100% -9.77% -172.23%
100% -551.98% -426.20%
100% -161.10% -226.14%
100% -83.16% -897.96%

100% -83.16% -897.96%

ACTIVITY RATIO 2009
ITO

DAYS OF INVENTORY ON HAND (DOH)

RECEIVABLE TURNOVER (RTO)

DAYS OF SALES OUTSTANDING (DSO)

PAYABLE TURNOVER (PTO)

NO. OF DAYS OF PAYABLE (DPO)

WORKING CAPITAL TURNOVER (WCTO) 0.25

FIXED ASSET TURNOVER (FATO) -0.15

TOTAL ASSET TURNOVER (TATO) -0.07

LIQUIDITY RATIO

CURRENT RATIO
CA/CL 0.53
QUICK RATIO
CASH+ST MARKETABLE INVESTMENTS+RECEIVABLES/CL 0.83
CASH RATIO
CASH+ST MARKETABLE INVESTMENTS/CL 0.29
DEFENSIVE INTERVAL RATIO (DIR)
CASH+ST MARKETABLE INVESTMENTS+ RECEIVABLES/DAILY CASH EXPENDITURE
CASH CONVERSION CYCLE

SOLVENCY RATIO

DEBT TO ASSET RATIO 0.86

DEBT/TOTAL ASSETS
DEBT TO CAPITAL
TOTAL DEBT/TOTAL DEBT+TOTAL EQUITY 0.89
DEBT TO EQUITY
TOTAL DEBT/TOTAL EQUITY 8.08
FINANCIAL LEVERAGE
AVG TOTAL ASSETS/AVG TOTAL EQUITY 6.17
INTEREST COVERAGE
EBIT/INTEREST PAYMENT
FIXED CHARGE COVERAGE
EBIT+LEASE PAYMENT/INTEREST PAYMENT+LEASE PAYMENT
PROFITABILITY RATIOS

GROSS PROFIT MARGIN -52.67%

GROSS PROFIT/ REVENUE
OPERATING PROFIT MARGIN 189%
EBIT/REVENUE
PRETAX MARGIN
EBT/REVENUE
NET PROFIT MARGIN 171%
NET INCOME/ REVENUE
OPERATING ROA
OPERATING INCOME/AVG TOTAL ASSETS
ROA
NET INCOME/AVG TOTAL ASSETS -6.56%
ROE
NET INCOME/ AVG TOTAL EQUITY -40.5%
RETURN ON TOTAL CAPITAL
EBIT/ ST,LT +EQUITY
RETURN ON COMMON EQUITY
NET INCOME-PREFERRED DIVIDEND/AVG COMMON EQUITY -20.67%

ADVANCS TO DEPOSIT RATIO 59%

CASHFLOW PER SHARE 1795.154

P/E -5.811138

P/CF 0.013369

ADVANCE TO DEPOSIT RATIO 59%

 DATA FOR RATIOS 2009 DATA FOR RATIOS 2008
2008 CURRENT ASSETS CURRENT LIABILITIES CURRENT ASSETS
17877059 33902400 18298624
FIXED ASSETS LONG TERM LIABILITIES FIXED ASSETS
20296316 216575 6504193
TOTAL ASSETS TOTAL LIABILITIES TOTAL ASSETS
38173375 34118975 24802817
WORKING CAPITAL TOTAL DEBT WORKING CAPITAL
-16025341 32862289 -561695
SHORT TERM INVESTMENT SHORT TERM INVESTMENT
9703084 2822374
RECEIVABLES TOTAL EQUITY RECEIVABLES
18516570 4065941 15827839
COMMON EQUITY
5000000

-0.01

0.97

0.99

0.15

0.75

0.75

3.01
 206%

-81%

-45%

-0.77%

-3.07%

-4%

95%

231.2308

-63.157895

0.1037924

95%
DATA FOR RATIOS 2008 DATA 2007
CURRENT ASSETS CURRENT LIABILITIES CURRENT ASSETS CURRENT LIABILITIES
18860319
FIXED ASSETS LONG TERM LIABILITIES FIXED ASSETS LONG TERM LIABILITIES
122378
TOTAL ASSETS TOTAL LIABILITIES TOTAL ASSETS TOTAL LIABILITIES
18982697 18,120,786 11819210
WORKING CAPITAL TOTAL DEBT TOTAL EQUITY
18486406 6,324,139
SHORT TERM INVESTMENT COMMON EQUITY
4,500,000
RECEIVABLES TOTAL EQUITY
6132731
COMMON EQUITY
5000000
 TOTAL ASSETS 2006
OTHER ASSETS CASH AND BALANCES WITH TREASURY BANKS
4% 4%
OPERATING FIXED ASSETS
7%
BALANCES WITH OTHER BANKS
11%

ADVANCES
25%
LENDINGS TO FINANCIAL INSTITUTIONS
19%

INVESTMENTS
30%
 TOTAL SSETS 2007
OTHER ASSETS CASH AND BALANCES WITH TREASURY BANKS
OPERATING FIXED ASSETS 2% 4% BALANCES WITH OTHER BANKS
3% 0%

LENDINGS TO FINANCIAL INSTITUTIONS

16%

ADVANCES
44%

INVESTMENTS
30%
 TOTAL ASSETS 2008
OTHER ASSETSCASH AND BALANCES WITH TREASURY BANKS
DEFERRED TAX ASSETS 4% 5% BALANCES WITH OTHER BANKSLENDINGS TO FINANCIAL INSTITUTIONS
1%
OPERATING FIXED ASSETS 0% 1%
4%

INVESTMENTS
21%

ADVANCES
64%
 TOTAL ASSETS 2009
DEFERRED TAX ASSETS OTHER ASSETS CASH AND BALANCES WITH TREASURY BANKS
1% 3% 5% BALANCES WITH OTHER BANKS
OPERATING FIXED ASSETS
4% 2%
LENDINGS TO FINANCIAL INSTITUTIONS
4%

INVESTMENTS
33%

ADVANCES
48%
 TOTAL LIABILITIES 2006
BILLS PAYABLE BORROWINGS
DEPOSITS AND OTHER ACCOUNTS SUB-ORDINATED LOANS
LIABILITIES AGAINST ASSETS SUBJECTED TO FINANCIAL LEASE DEFERRED TAX LIABILITIES
OTHER LIABILITIES

0% 0%
4%

96%
 TOTAL LIABILITIES 2008
BILLS PAYABLE BORROWINGS
DEPOSITS AND OTHER ACCOUNTS SUB-ORDINATED LOANS
LIABILITIES AGAINST ASSETS SUBJECTED TO FINANCIAL LEASE DEFERRED TAX LIABILITIES
OTHER LIABILITIES

0%
2%
10%

88%
 Chart Title
BILLS PAYABLE BORROWINGS
DEPOSITS AND OTHER ACCOUNTS SUB-ORDINATED LOANS
LIABILITIES AGAINST ASSETS SUBJECTED TO FINANCIAL LEASE DEFERRED TAX LIABILITIES
OTHER LIABILITIES

1%
3% 5%

92%