Your Directors have immense pleasure in presenting the
Bank's Annual Report along with the Audited Statement of
Accounts and the Cash Flow statement for the year ended
31^st March 2025.

FINANCIAL HIGHLIGHTS

The major highlights of your Bank's performance
during FY25 are as follows:

A. RESOURCE MOBILIZATION & ADVANCES:

1. Global Deposits grew by 7.14% YoY and stood at
?7.37 lakh Cr in March 2025.

2. Domestic Deposits grew by 6.22% to ?7.03 lakh Cr.
Domestic CASA increased to ?2.82 Lakh Cr and CASA
share was at 40.17%. In order to augment the CASA
portfolio, Bank has mobilized 36.08 lakh new CASA
accounts (excluding BSBD Savings account) during
FY25.

3. Gross Advances of the Bank (Global) grew by 10.19%
YoY and stood at ?5.88 lakh Cr as on March 31, 2025
from ?5.33 lakh Cr as on March 31,2024.

4. Priority Sector Advances were at ?2.04 lakh Cr as on

March 31, 2025. Priority sector as a percentage to
Adjusted Net Bank Credit (ANBC) for FY25 stood at
44.12% as against the mandatory target of 40.00%.

5. Agriculture Credit (Priority Sector) was at ?90,476
Cr and as a percentage to ANBC the same stood at
19.55% as against the mandatory target of 18.00%.

6. All mandatory targets under priority sector stipulated
by RBI have been surpassed during FY25.

7. Gross NPA and Net NPA reduced to ?18,179 Cr
(3.09%) and ?1,110 Cr (0.19%) respectively as on
March 31, 2025 as against ?21,106 Cr (3.95%) and
?2,223 Cr (0.43%) respectively as on March 31,2024.

8. Total recovery of NPAs (cash recovery including
recovery in AUC accounts, upgradation and Mol)
during FY25 amounted to ?7,651 Cr as against ?8,799
Cr in the previous year.

9. Provision Coverage Ratio (PCR) of the Bank improved
by 176 bps to 98.10% in FY25 as against 96.34% in
FY24.

10. Domestic Branch network of the Bank expanded to
5901, comprising of 1992 Rural, 1555 Semi Urban,
1182 Urban and 1172 Metropolitan branches.
Besides, Bank has 3 overseas branches and 1 IFSC
Banking unit (GIFT City). Total number of Bank's ATMs
and BNAs stood at 5268 which include 608 offsite
ATMs/BNAs and 3 mobile ATMs. Bank is also having
14667 Business Correspondents taking the Pan India
touch points to 25837.

B. INCOME AND EXPENDITURE

1. Interest income of the Bank grew by 11.49% to
f62,002 Cr in FY25 from f55,615 Cr in FY24.

2. Net Interest Income grew by 8.18% to f25176 Cr in
FY25 from f23274 Cr in FY24.

3. Fee based Income grew by 6.96% to f3528 Cr in FY25
from f3298 Cr in FY24.

4. Operating Profit increased by 12.82% at f18998 Cr in
FY25 from f16840 Cr in FY24.

5. Profit before Tax grown by 35.02% to f14787 Cr in
FY25 from f10951 Cr in FY24.

6. Net Profit up by 35.41% YoY to f10918 Cr in FY25
from f8063 Cr in FY24.

C. KEY RATIOS FOR FY25: (in %)

1. Yield on Advances (YoA) up by 3 bps to 8.75% in FY25
from 8.72% in FY24.

2. Return on Assets (RoA) increased by 25 bps to 1.32%
in FY25 from 1.07% in FY24.

3. Return on Equity (RoE) up by 152 bps to 20.76% in
FY25 from 19.24% in FY24.

4. Average Business per employee increased by
f265 lakh to f2922 lakh in FY25 from f2657 lakh in FY24.

5. Profit per employee increased by f7.22 lakh to f27.25
lakh in FY25 from f20.03 lakh in FY24.

D. NETWORTH AND CRAR

1. Networth of the Bank stood at ?57,029 Cr as on
March 31, 2025 as against ?47,491 Cr in March 31,
2024.

2. During FY25, Bank had raised Long Term
Infrastructure Bond aggregating to f10,000 Cr and
shareholding of Govt. of India (GoI) is 73.84%.

1. As per Basel III norms, the CET- I ratio was at 15.36%
on 31.03.2025 compared to 13.52% on 31.03.2024 as
against minimum requirement of 8.00%.

2. The Tier-I Capital was at 15.85% as on March 31,2025
as against 14.03% as on March 31,2024.

3. The Capital to Risk Weighted Assets Ratio (CRAR)
was at 17.94% as on March 31, 2025, compared to
16.44% in March 31, 2024 as against the regulatory
requirement of 11.50%.

E. RECRUITMENT / TRAINING

As per Government guidelines, Bank implemented
the rule of reservation in direct recruitment for SC/
ST/EWS/OBC/PwBD category and pre-promotion
trainings were offered to employees belonging to
SC/ST/OBC and PwBD category during the process of
internal promotions.

F. CHANGES IN THE BOARD DURING THE FINANCIAL
YEAR:

All the Directors have been appointed/nominated by
the Govt. of India (GOI) except Shareholder Directors.
DFS has appointed/nominated,

• Dr. Alok Pande as GoI Nominee Director of the
Bank with effect from 13.05.2024.

• Shri Binod Kumar as Managing Director and
CEO of the Bank with effect from 16.01.2025.

• Shri Sanjeev K Maheshwari was elected as shareholder
Director of the Bank for a period of three years with
effect from 21.12.2024 to 20.12.2027.

The details regarding the completion or cessation of the
term of appointment are as follows,

• The term of appointment of Shri Shanti Lal Jain, as
Managing Director of the Bank ceased on 01.01.2025
on his completion of term of appointment.

• The term of appointment of Shri Vishvesh Kumar
Goel as Part Time Non-Official Director of the Bank
ceased on 21.12.2024 on his completion of term of
appointment.

• The term of appointment of Shri Balmukund Sahay
as Part Time Non-Official Director of the Bank
ceased on 21.12.2024 on his completion of term of
appointment.

• The term of appointment of Ms. Papia Sengupta
as Shareholder Director of the Bank ceased on
29.10.2024 on her completion of term of appointment.

• The term of appointment of Dr. M P Tangirala as GoI
Nominee Director of the Bank ceased on 13.05.2024
vide Government of India, Ministry of Finance,
Department of Financial Services, Notification No.
6/2(ii)/2022-BO.I dated 13.05.2024.

G. DIRECTORS' RESPONSIBILITY STATEMENT

The Directors confirm that in the preparation of the annual
accounts for the year ended March 31,2025: -

1. The applicable accounting standards have been
followed along with proper explanation relating to
material departures, if any.

2. The accounting policies framed in accordance with
the guidelines of the Reserve Bank of India, were
consistently applied.

3. Reasonable and prudent judgment and estimates
were made so as to give a true and fair view on the
state of affairs of the Bank at the end of the financial
year and profit of the Bank for the year ended
March 31,2025.

4. Proper and sufficient care were taken for the
maintenance of adequate accounting records in
accordance with the provisions of applicable laws
governing banks in India; and

5. The accounts have been prepared on a going concern
basis.

H. ACKNOWLEDGEMENT

The Board expresses its deep sense of gratitude to the
Government of India, State Governments, Reserve Bank
of India and Securities & Exchange Board of India for the
valuable guidance and support received from them. The
Board is also grateful to the financial institutions and
correspondent Banks for their co-operation and support.
The Board acknowledges the unwavering support of its
customers and shareholders.

The Board places on record its appreciation for the
valuable contribution made by

Shri Shanti Lal Jain, Dr. M P Tangirala, Ms. Papia Sengupta,
Shri Vishvesh Kumar Goel and Shri Balmukund Sahay who
ceased to be members during the financial year.

The Board also places on record its appreciation for the
dedicated services and contribution made by members of
staff for the overall performance of the Bank.

For and on behalf of Board of Directors
(Binod Kumar)

MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER