2007-08 वित्‍तीय रिपोर्ट

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Unaudited Solo Financial Results for the Quarter / Nine Months ended 31st Dec 2008

Rs. in Lacs.
Sr No. Particulars Quarter Ended 31.12.08 Quarter Ended 31.12.07 Nine Months Ended 31.12.08 Nine Months Ended 31.12.07 Year Ended 31.03.08
Reviewed Reviewed Reviewed Reviewed Audited
1 Interest Earned (a)+(b)+(c)+(d) 410800 300219 1095280 848240 1181347
(a) Interest /disc.on advances/bills 304224 216314 812115 608624 841297
(b) Income on Investments 90848 71108 242617 196923 273729
(c) Interest on balances with Reserve Bank of India and other inter bank funds 11137 10038 32063 37939 55366
(d) Others 4591 2759 8485 4754 10955
2 Other Income 84649 61799 180901 149641 205104
3 Total Income (1+2) 495449 362018 1276181 997881 1386451
4 Interest Expended 264616 200471 730018 559910 790167
5 Operating Expenses (a)+(b) 96269 68307 255612 216561 303429
a) Employees cost 66727 39589 171345 138261 190376
b) Other Operating expenses 29542 28718 84267 78300 113053
6 Total Expenditure (4+5) excluding provisions & contingencies) 360885 268778 985630 776471 1093596
7 Operating Profit before Provisions & Contingencies) (3-6) 134564 93240 290551 221410 292855
8 Provisions (other than tax) & Contingencies 35010 15696 75232 39645 72140
9 Exceptional Items 6907 - 9501 - -
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 106461 77544 224820 181765 220715
11 Tax expenses 35624 27439 77369 65857 77163
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 70837 50105 147451 115908 143552
13 Extraordinary items (net of tax expenses)
14 Net Profit (+) / Loss (-) for the period (12-13) 70837 50105 147451 115908 143552
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 916144 807055 916144 807055 916144
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio(%)
As per Basel - I 12.75 13.51 12.75 13.51 12.91
As per Basel - II 13.20 - 13.20 - 12.94
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 19.45 13.75 40.48 31.82 39.41
iv NPA Ratios
a) Gross NPA 192142 204030 192142 204030 198138
Net NPA 47258 51724 47258 51724 49355
b) % of Gross NPA 1.50 2.11 1.50 2.11 1.84
% of Net NPA 0.37 0.54 0.37 0.54 0.47
c) Return on Assets 1.45 1.37 1.04 1.06 0.89
18 Public Shareholding
- No. of shares 168266500 168266400 168266500 168266400 168266400
- Percentage of shareholding 46.19 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter / Nine Months Ended 31.12.2008.

  • The above financial results have been approved by the Board at its meeting held on 29/01/2009. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 31.12.2008 as compared to those followed in the preceeding financial year 2007-08.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
  • The financial results for the quarter / nine months ended 31.12.08 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issuedby RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) and Provision for contingencies including for employee benefits considered on estimated basis.
  • During the quarter, the bank has made additional provision of Rs.39.77 crores in certain identified Non Performing Advance accounts.
  • In the absence of market valuation and consistent fair value quotes from issuers, on the basis of which valuation was done earlier, the CLNs have been valued adopting FIMMDA valuation method during the current quarter.The quantum of difference in depreciation, if any, is not ascertainable.
  • A sum of Rs.135.15 crores has been charged to Profit and Loss A/c during the nine months on proportionate basis, of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation.An amount of Rs.585.65 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 350 crores has been made on estimated basis, as employee cost, of which Rs.250 crores is made during the nine months (Rs.130 crs during the quarter Dec.08).
  • In terms of Agricultural Debt Waiver and Debt Relief Scheme 2008, framed by the Government of India, the Bank has received Rs.208.91 crores from Reserve Bank of India on account of loans eligible for debt waiver scheme amounting to Rs.506.04 crores. The interest receivable from the Government has not been given effect to in the books. The amount is subject to certification by the Statutory Central Auditors.
  • Exceptional items Rs.69.07 crores (Net of Tax Rs.45.59 crores) represents profit on winding up of bank's Subsidiary Bank of Baroda (Hongkong) Ltd for the quarter ended 31 st December 2008. The amount shown in nine months is inclusive of Profit on sale of 51% holding in BOB AMC Ltd in June 2008.
  • Auditors qualifications for the year ended 31st March 2008 have been dealt with Note no.3 above. 12. Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 54
    • Disposed off during the quarter 54
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

Segment Reporting For The Quarter / Nine Months Ended 31.12.2008

Part A - Business Segments

Rs in lacs
Sr. No. Particulars Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.08 Audited
1 Segment Revenue
(a) Treasury Operations 127370 325449 357698
(b) Wholesale Banking 158553 390020 415659
(c) Retail Banking 127600 375332 396040
(d) Other Banking Operations 88833 194881 217054
Total Revenue 502356 1285682 1386451
2 Segment Results
(a) Treasury Operations 55688 63824 78879
(b) Wholesale Banking 16570 48572 17514
(c) Retail Banking 42205 131179 93737
(d) Other Banking Operations 37924 111032 150022
Total 152387 354607 340152
Unallocated expenditure 45926 129787 119437
Profit before Tax 106461 224820 220715
Provision for Tax 35624 77369 77163
Net Profit 70837 147451 143552
3 Capital Employed
(a) Treasury Operations 359168 359168 350171
(b) Wholesale Banking 352036 352036 320138
(c) Retail Banking 243449 243449 199489
(d) Other Banking Operations 280675 280675 218743
(e) Unallocated 17658 17658 15852
Total Capital Employed 1252986 1252986 1104393

Part B - Geographic Segments

Rs in lacs
Sr. No. Particulars Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.08 Audited
1 Revenue
(a) Domestic 433136 1112214 1189514
(b) International 69220 173468 196937
Total 502356 1285682 1386451
2 Assets
(a) Domestic 15981096 15981096 14252003
(b) International 4036204 4036204 3707949
Total 20017300 20017300 17959952

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, Retail and "Other Banking Operations" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place: Mumbai
Date: 29.01.2009
R K Bakshi
Executive Director
V. Santhanaraman
Executive Director
M D Mallya
Chairman & Managing Director

Unaudited Solo Financial Results for the Quarter / Half Year ended 30th Sep 2008

Rs. in Lacs.
Sr No. Particulars Quarter Ended 30.09.08 Quarter Ended 30.09.07 Half Year Ended 30.09.08 Half Year Ended 30.09.07 Full Year Ended 31.03.08
Reviewed Reviewed Reviewed Reviewed Audited
1 Interest Earned (a)+(b)+(c)+(d) 355098 287977 684480 548021 1181347
(a) Interest /disc.on advances/bills 268918 205248 507891 392310 841297
(b) Income on Investments 72648 67742 151769 125815 273729
(c) Interest on balances with Reserve Bank of India and other inter bank funds 11399 13734 20926 27901 55366
(d) Others 2133 1253 3894 1995 10955
2 Other Income 47592 45406 98846 87842 205104
3 TOTAL INCOME (1+2) 402690 333383 783326 635863 1386451
4 Interest Expended 241721 189833 465402 359439 790167
5 Operating Expenses (a(+(b) 76406 79826 147343 148254 293429
a) Employees cost 46346 53669 92618 98672 180376
b) Other Operating expenses 30060 26157 54725 49582 113053
6 TOTAL EXPENDITURE (4+5) excluding provisions & contingencies) 318127 269659 612745 507693 1083596
7 Operating Profit before Provisions & Contingencies) (3-6) 84563 63724 170581 128170 302855
8 Provisions (other than tax) & Contingencies 24191 9805 52222 23949 82140
9 Exceptional Items
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 60372 53919 118359 104221 220715
11 Tax expenses 20843 21200 41745 38418 77163
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 39529 32719 76614 65803 143552
13 Extraordinary items (net of tax expenses) )
14 Net Profit (+) / Loss (-) for the period (12-13) 39529 32719 76614 65803 143552
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 916144 807055 916144 807055 916144
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio
As per Basel - I 12.86 12.90 12.86 12.90 12.91
As per Basel - II 12.57 - 12.57 - 12.94
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 10.85 8.98 21.03 18.06 39.41
iv NPA Ratios
a) Gross NPA 195439 212914 195439 212914 198138
Net NPA 50924 49655 50924 49655 49355
b) % of Gross NPA 1.62 2.33 1.62 2.33 1.84
% of Net NPA 0.43 0.55 0.43 0.55 0.47
c) Return on Assets 0.84 0.94 0.83 0.95 0.89
18 Public Shareholding
No. of shares 168266500 168266400 168266500 168266400 168266400
Percentage of shareholding 46.19 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter / Half Year Ended 30.09.2008.

  • The above financial results have been approved by the Board at its meeting held on 25/10/2008. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter / half year ended 30.09.2008 as compared to those followed in the preceeding financial year 2007-08.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
  • The financial results for the quarter / half year ended 30.09.08 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) and contingencies including for employee benefits have been considered on estimated basis.
  • A sum of Rs.90.10 crores has been charged to Profit and Loss A/c during the half year, on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation An amount of Rs.630.70 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 220 crores has been estimated, out of which Rs.100 crores was provided upto 31.03.08 and Rs.120 crores is provided during current half year.
  • Government of India has notified "Agriculture Debt Waiver and Debt Relief Scheme, 2008" for giving debt waiver to marginal and small farmers and relief to other farmers who have availed direct agricultural loans. the claim for agricultural debt waiver to the eligible farmers as per the scheme has been given effect to in the accounts for the half year. The claim for agricultural debt amounts are subject to certification by Auditors. Based on prudence, no effect has been given in the accounts for the half year ended 30.09.08 in respect of the Debt Relief Scheme.
  • Auditors qualifications for the year ended 31st March 2008 have been dealt with in Note 3 above
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 59
    • Disposed off during the quarter 59
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

SEGMENT REPORTING FOR THE QUARTER / HALF YEAR ENDED 30.09.2008

Rs. in Lacs.
Sr. No. Particulars Quarter Ended 30.09.08 Half year Ended 30.09.08 Year Ended 31.03.08
Reviewed Reviewed Audited
1 Segment Revenue
(a) Treasury Operations 92225 198079 357698
(b) Wholesale Banking 129575 231467 415659
(c) Retail Banking 126908 247732 396040
(d) Other Banking Operations 53982 106048 217054
Total Revenue 402690 783326 1386451
2 Segment Results
(a) Treasury Operations 6675 8136 78879
(b) Wholesale Banking 19509 32002 17514
(c) Retail Banking 39653 88974 93737
(d) Other Banking Operations 35231 61108 140022
Total 101068 190220 330152
Unallocated expenditure 40696 71861 109437
Profit before Tax 60372 118359 220715
Provision for Tax 20843 41745 77163
Net Profit 39529 76614 143552
3 Capital Employed
(a) Treasury Operations 357792 357792 350171
(b) Wholesale Banking 306630 306630 320138
(c) Retail Banking 241567 241567 199489
(d) Other Banking Operations 258383 258383 218743
(e) Unallocated 17854 17854 15852
Total Capital Employed 1182226 1182226 1104393

Part B - Geographic Segments

Rs. in Lacs.
Sr. No. Particulars Quarter Ended 30.09.08 Half year Ended 30.09.08 Year Ended 31.03.08
Reviewed Reviewed Audited
1 Revenue
(a) Domestic 347028 679078 1189514
(b) International 55662 104248 196937
Total 402690 783326 1386451
2 Assets
(a) Domestic 15217320 15217320 14252003
(b) International 3788400 3788400 3707949
Total 19005720 19005720 17959952

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations", Wholesale, Retail and "Other Banking Operations" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI / RBI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
  • In view of adoption of revised segments, comparative figures of primary segments of corresponding quarter are not available.
Place: Mumbai
Date: 25/10/2008
S C Gupta
Executive Director
V. Santhanaraman
Executive Director
M D Mallya
Chairman & Managing Director

Unaudited Financial Results for the Quarter Ended 30th June 2008.

Rs. in Lacs.
Sr. No. Particulars Quarter Ended 30.06.08 Reviewed Quarter Ended 30.06.07 Reviewed Year Ended 31.03.08 (Audited)
1 Interest Earned (a)+(b)+(c)+(d) 329382 260044 1181347
(a) Interest /disc.on advances/bills 238973 187062 841297
(b) Income on Investments 79121 58073 273729
(c) Interest on balances with Reserve Bank of India and other inter bank funds 9527 14167 55366
(d) Others 1761 742 10955
2 Other Income 51255 42436 205104
3 TOTAL INCOME (1+2) 380637 302480 1386451
4 Interest Expended 223681 169606 790167
5 Operating Expenses (a(+(b) 70937 68428 293429
a) Employees cost 46272 45003 180376
b) Other Operating expenses 24665 23425 113053
6 TOTAL EXPENDITURE (4+5) excluding provisions & contingencies) 294618 238034 1083596
7 Operating Profit before Provisions & Contingencies) (3-6) 86019 64446 302855
8 Provisions (other than tax) & Contingencies 28031 14144 82140
9 Exceptional Items 0 0 0
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 57987 50302 220715
11 Tax expenses 20902 17218 77163
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 37086 33084 143552
13 Extraordinary items (net of tax expenses) ) 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 37086 33084 143552
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 916144 807055 916144
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81
ii) Capital Adequacy Ratio
As per Basel - I 13.19% 14.33% 12.91%
As per Basel - II 13.04% - 12.94%
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 10.18 9.08 39.41
iv NPA Ratios
a) Gross NPA 209106 220697 198138
Net NPA 57549 51956 49355
b) % of Gross NPA 1.86 2.78 1.84
% of Net NPA 0.52 0.67 0.47
c) Return on Assets 0.81 1.01 0.89
18 Public Shareholding
No. of shares 168266400 168266000 168266400
Percentage of shareholding 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter ended 30.06.2008.

  • The above financial results have been approved by the Board at its meeting held on 29/07/2008. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 30.06.2008 as compared to those followed in the preceeding financial year 2007-08.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
  • The financial results for the quarter ended 30.06.08 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) and contingencies including for employee benefits have been considered on estimated basis.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c, on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. An amount of Rs.675.75 crores is to be charged proportionately by the end of March 2012.
  • In terms of RBI guidelines, the bank has implemented the Agriculture Debt Waiver and Debt Relief Scheme 2008. The eligible amount of waiver for small and marginal farmers is Rs. 502.08 crores and the amount eligible under OTS for other farmers is Rs.548 crores, out of which Rs.164.39 crores is eligible for relief. The Bank has reversed Interest/charges etc amounting to Rs.6.96 crores. The same is subject to verification by the Statutory Central Auditors as per RBI Guidelines.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 160 crores has been made on estimated basis, of which Rs.60 crores is made during the quarter.
  • Auditors qualifications for the year ended 31st March 2008 have been dealt with in Note No.3 & 5 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 52
    • Disposed off during the quarter 52
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

Accounting Standard 17 - Disclosure under Segment Reporting

Part A - Primary Segments

Business Segments Treasury Corporate / Wholesale Banking Retail Banking Other Banking Operations Total
Jun-08 Jun-08 Jun-08 Jun-08 Jun-08
Revenue 105854 101893 120824 52067 380637
Result 16116 9540 5146 54306 85107
Unallocated Expense 27120
Profit before tax 57987
Income taxes 20902
Extra-ordinary Profit/loss --
Net Profit 37086
Other Information
Capital Employed 385217 302962 382581 53727 1124487
Unallocated 17584
Total Capital Employed 1142071

Part B - Secondary Segments

Particulars Domestic Operations International Operations Total Total
Jun-08 Jun-07 Jun-08 Jun-07 Jun-08 Jun-07
Revenue 332050 257555 48587 44925 380637 302480
Assets 14812567 11434843 3714932 2973632 18527499 14408475

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted Treasury Operations, Wholesale, Retail and Other Banking Operations as Primary business segments and Domestic and International as secondary / Geographic segments for the purpose of compliance with AS-17 on Segment reporting issued by ICAI / RBI.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
  • In view of adoption of revised segments, comparative figures of Primary Segments of corresponding quarter are not available.
Place: Mumbai
Date: 29/07/2008
S C Gupta
(Executive Director)
V. Santhanaraman
(Executive Director)
M D Mallya
(Chairman & Managing Director)

Audited Financial Results for the Quarter / Year Ended 31st March, 2008

Sr. No. Particulars Quarter Ended 31.03.08 (Audited) Quarter Ended 31.03.07 (Audited) Year Ended 31.03.08 (Audited) Year Ended 31.03.07 (Audited)
1 Interest Earned (a+b+c+d) 333107 262094 1181347 900409
a) Interest/discount on advances/bills 232673 179048 841297 593736
b) Income on Investments 76806 66939 273729 256031
c) Interest on balances with RBI and other inter-bank funds 17427 13379 55366 46646
d) Others 6201 2728 10955 3996
2 Other income 55463 44886 205104 138179
3 TOTAL INCOME (1+2) 388570 306980 1386451 1038588
4 Interest expended 230257 156741 790167 542656
5 Operating Expenses (a+b) 76868 75840 293429 254431
a) Employees cost 42115 44177 180376 164406
b) Other Operating expenses 34753 31663 113053 90025
6 TOTAL EXPENDITURE (4+5) {Excluding Provisions & Contingencies) 307125 232581 1083596 797087
7 OPERATING PROFIT (Profit before Provisions & Contingencies) (3-6) 81445 74399 302855 241501
8 Provisions (other than tax) & Contingencies 42495 31175 82140 76075
9 Exceptional Items 0 0 0 0
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 38950 43224 220715 165426
11 Tax expenses 11306 18658 77163 62779
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 27644 24566 143552 102647
13 Extraordinary items (net of tax expenses) ) 0 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 27644 24566 143552 102647
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 916144 807055 916144 807055
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio {%)
a) As per Basel - I 12.91 11.80 12.91 11.80
b) As per Basel - II 12.94 - 12.94 -
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 7.59 6.74 39.41 28.18
iv NPA Ratios
a. Gross NPA 198138 209214 198138 209214
Net NPA 49355 50167 49355 50167
b) % of Gross NPA 1.84 2.47 1.84 2.47
% of Net NPA 0.47 0.60 0.47 0.60
c) Return on Assets 0.65 0.77 0.89 0.80
18 Public Shareholding
Number of shares 168266400 168266000 168266400 168266000
Percentage of shareholding 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter Ended 31.03.2008.

  • The above results have been taken on record by the Board at its meeting held on 20-05-2008. The same has been subjected to audit by Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the year ended 31.03.2008 as compared to those followed in the immediately preceding financial year 2006-07, excepting accounting for dividend on shares of subsidiaries, joint ventures and associate companies, which is now recognised on realisation. There is no impact in the results for the current year due to change in policy.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjsutments, NOSTRO, Drafts / TTs payablle, Clearing Adjustments (including interse the Bank's Overseas Branches and those Position Maintaining Offices in India), Dividend / Interest / Refund Orders Paid / Payable etc. is in progress.
  • The financial results for the Quarter/Year ended 31.03.08 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth Tax and Fringe Benefit tax) and contingencies including for have been considered on actuarial basis.
  • A sum of Rs.180.20 crores has been charged to Profit and Loss A/c on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007 as per the Revised Accounting Standard (AS) 15 on Employee. Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation.
  • During the year ended Mar-2008, Tier II bonds amounting to Rs.2703.62 crores were raised including Rs.1203.62 crores (USD 300 mn) have been issued by way of Medium Term Notes.
  • In terms of RBI Guidelines, the bank has during the quarter ended June 2007 transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category and a depreciation of Rs.37.08 crores has been charged to the Profit and Loss A/c.
  • The Bank has commenced operations at Hongkong w.e.f. 1st April 2007 by taking over the business of subsidiary, Bank of Baroda (Hongkong) Ltd. The results shown above for the quarter / year ended 31.03.08 are inclusive of the operations at Hongkong.
  • During the year 2 new overseas subsidiaries viz. Bank of Baroda (Trinidad & Tobago) Ltd and Bank of Baroda, (Ghana) Ltd were operationalised.
  • Auditors qualifications for the year ended 31st March 2007 and for the three quarter ended 30th June,30th Sep 2007 & 31st Dec.07 have been dealt with in Note No.3 & 5 above.
  • As per RBI clarification dated 11th July 2007, Banks should reflect the amortisation of premium on investments held under HTM category as a deduction from Interest Income on investments instead of deduction from Other Income. Accordingly, the bank has carried out the reclassification. This change does not have any impact on the net profit for the periods under audit.
  • During the year the bank has revalued its fixed assets and an amount of Rs.1377.74 crores has been credited to Capital Reserves as revaluation reserves.
  • The Board has recommended a dividend @ 80% on Equity Share Capital for the year 2007-08 subject to approval by members.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 59
    • Disposed off during the quarter 59
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged, wherever necessary, to correspond to current period classification.

Accounting Standard 17 - Disclosure under Segment Reporting

Part A -Primary Segments

Sr. No. Business Segments Treasury Corporate / Wholesale Banking Retail Banking Other Banking Operations Total
2007-08 2007-08 2007-08 2007-08 2007-08
1 Revenue 357698 415659 396040 217054 1386451
Result 78879 17514 93737 140022 330152
Unallocated Expense 109437
Operating Profit 220715
Income taxes 77163
Extra-ordinary Profit/loss --
Net Profit 143552
Other Information
2 Segment Assets 5694578 5206182 3244149 3557260 17702169
Unallocated Assets 257783
Total Assets 17959952
3 Segment Liabilities 5344407 4886044 3044660 3338518 16613629
Unallocated Liabilities 1346323
Total Liabilities 17959952

Part B - Secondary Segments

Particulars Domestic Operations International Operations Total Total
2007-08 2006-07 2007-08 2006-07 2007-08 2006-07
Revenue 1189514 886892 196937 151696 1386451 1038588
Assets 14252003 11507856 3707949 2806762 17959952 14314618

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
  • In view of adoption of revised segments, previous years figures have not been disclosed for primary segments as per RBI Guidelines.
Place: Mumbai Date: 20.05.2008 S C Gupta (Executive Director) V. Santhanaraman (Executive Director) M D Mallya (Chairman & Managing Director)

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