2015-16 वित्‍तीय रिपोर्ट

Un-audited Financial Results (Standalone) for the Quarter/ Nine Months Ended 31st December, 2016

Notes forming part of the un-audited financial results for the Quarter / Nine Months Ended 31st December, 2016

• The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 10th February, 2017 and approved by the Board of Directors in their meeting held on 10th February, 2017. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
• The above results for the quarter / nine months ended 31st December 2016 have been prepared, following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
• The financial results for the quarter / nine months ended 31st Dec 2016 have been arrived at after considering provision for Non-performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advances as against the Regulatory requirement of 15%.
• On review of NPA advances portfolio, bank has made additional provision of Rs. 161.00 Crs during the quarter, over and above the IRAC norms.
• In compliance with the RBI Circular DBR.No.BP.BC.34/21.04.132/2016-17 dated 10th November, 2016, "Scheme for Stressed Assets- Revisions", in respect of Standard Facilities under Strategic Debt Restructuring (SDR) and Scheme for Sustainable Structuring of Stressed Assets (S4A), the Bank has, during the quarter ended 31st December, 2016, reversed an amount of Rs.256.13 Crores being unrealized interest in such accounts.
• In compliance of RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has made a provision of Rs.241.11 Crore being 20% of the existing outstanding envisaged to be converted to term loan of Rs.1205.56 Crore as on 31.12.2016 under food credit availed by State Government of Punjab.
• In terms of RBI Circular No. FMRD.DIRD.10/14.03.2002/2015-16 dated 19th May, 2016, repo and reverse repo transactions with RBI under LAF/MSF are classified as "Borrowings from RBI"/ "Balances with Banks and Money at Call & Short Notice" with effect from the current quarter, respectively as against the earlier practice of including/ Netting the same under "Investments". Previous period figures have been regrouped and reclassified to conform to current period's classification. The aforesaid change has no impact on the profit of the Bank for the quarter ended 31st December, 2016 or the previous periods.
• . In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
• Non Performing Loan Provisioning Coverage Ratio is 64.50 % as on 31st December 2016.
• Details of Investor's complaints for the quarter ended 31.12.2016: Pending at Beginning: 0; Received: 110; Disposed off:110; Closing:0
  Liquidity Coverage Ratio (LCR) for Quarter ended 31st December, 2016 (115 KB)
• Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Assets

The figures of previous period have been regrouped / rearranged, wherever necessary, so as to make them comparable with those of the current period.

Liquidity Coverage Ratio (LCR) for Quarter ended 31st December, 2016

Part A : Business Segments

Part B : Geographic Segments

Notes on Segment Reporting :

• As per guidelines of RBI on compliance with Accounting Standards, the 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.
• Segment revenue represents revenue from external customers.
• Capital employed for each segment has been allocated proportionate to the assets of the segment.
• The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Place : Mumbai
Date : 10.02.2017

Un-audited Financial Results (Standalone) for the Quarter/ Half Year Ended 30th September, 2016

Notes forming part of the un-audited financial results for the Quarter / Half Year Ended 30th September, 2016

• The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 11th November, 2016 and approved by the Board of Directors in their meeting held on 11th November, 2016. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
• The above results for the quarter / half year ended 30th September 2016 have been prepared, following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
• The financial results for the quarter ended 30th Sept 2016 have been arrived at after considering provision for Non-performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advances as against the Regulatory requirement of 15%.
• On review of NPA advances portfolio, bank has made additional provision of Rs. 829 Crs during the quarter, over and above the IRAC norms.
• In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
• The bank has approved SDR proposals of Rs. 2370 Crs during this quarter in terms of RBI guidelines issued in this regard and made provision of Rs. 118.50 Crs as on 30.09.2016.
• Further in respect of provision for mark to market requirements on equity portion and 15% on residual loan portion, the bank has decided to provide such provision in equal installments over the four quarters from the date of conversion of Debt into Equity in terms of RBI circular dated 25.02.2016.
• Non Performing Loan Provisioning Coverage Ratio is 62.95 % as on 30th September 2016.
• A penalty of Rs. 22.29 lacs was imposed by overseas regulators (Kenya and Oman) for deviation in prudential / other guidelines during the quarter which has been fully provided / paid.
• Details of Investor's complaints for the quarter ended 30.09.2016: Pending at Beginning: 0; Received: 169; Disposed off:169; Closing:0
• Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Assets

The figures of previous period have been regrouped / rearranged, wherever necessary, so as to make them comparable with those of the current period.

Liquidity Coverage Ratio (LCR) for Quarter ended 30th September, 2016 (134 KB)

Segment reporting for the Quarter ended 30th September, 2016

Part A : Business Segments

Part B : Geographic Segments

Notes on Segment Reporting :

• As per guidelines of RBI on compliance with Accounting Standards, the 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.
• Segment revenue represents revenue from external customers.
• Capital employed for each segment has been allocated proportionate to the assets of the segment.
• The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Place : Mumbai
Date : 11.11.2016

Un-audited Financial Results (Standalone) for the Quarter Ended 30th June, 2016

Notes forming part of the un audited financial results for the Quarter ended 30th June, 2016

• The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 10th Aug, 2016 and approved by the Board of Directors in their meeting held on 11th Aug, 2016. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
• The above results for the quarter ended 30th June 2016 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
• The financial results for the quarter ended 30th June 2016 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%.
• In compliance to the RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has provided a sum of Rs. 289.45 crore during quarter ended 31.03.2016 being 15% of the outstanding of Rs. 1962.02 Crore as on 31.03.2016 under food credit availed by a State Government. As per the RBI's directives, said provision was required to be made in two quarters i.e 7.5% in March, 2016 and 7.5% in June, 2016. A sum of Rs. 80.70 Crore has been reversed during this quarter due to decrease in outstanding balance of such credit.
• In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
• Non Performing Loan Provisioning Coverage Ratio is 60.17 % as on 30th June 2016.
• A penalty of Rs. 5.00 Crore was imposed by RBI in July 2016 on account of weaknesses in internal control mechanism in respect of non adherence of certain regulations on KYC/AML. The same has been provided during this quarter.
• Details of Investor's complaints for the quarter ended 30.06.2016: Pending at Beginning - 0; Received -243; Disposed off -243; Closing -0
• Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Assets

The figures of previous period have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Liquidity Coverage Ratio (LCR) for Year ended 30th June, 2016 (241 KB)

Segment reporting for the Quarter ended 30th June, 2016

Part A : Business Segments

Part B : Geographic Segments

Notes on Segment Reporting :

• As per guidelines of RBI on compliance with Accounting Standards, the 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.
• Segment revenue represents revenue from external customers.
• Capital employed for each segment has been allocated proportionate to the assets of the segment.
• The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Place : Mumbai
Date : 11.08.2016

Audited Financial Results for the Quarter/ Year ended 31st March, 2016

Notes forming part of the audited financial results for the Quarter/Year ended 31st March, 2016

• The above financial results have been reviewed by the Audit Committee of Board in their meeting held on13th May 2016 and approved by the Board of Directors in their meeting held on 13th May 2016. The same have been subjected to Audit by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
• Accounting policies have been consistently applied during the year and there is no material change in accounting policies adopted during the year ended March 2016 as compared to those followed for the year ended March 2015.
• The financial results for the quarter/ year ended 31st March 2016 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%.
• During the year, as a part of Asset Quality Review (AQR) conducted by RBI, the bank has been advised to reclassify / make additional provisions in respect of certain advance accounts over two quarters ending December 2015 and March 2016. The Bank has accordingly implemented the RBI direction.
• Further, the Bank has done an extensive review of the advance portfolio and has made additional provision for NPAs.
• During the year the Bank has created DTA of Rs. 848 crores on account of difference in provision requirement at UAE which in the opinion of the Bank is fully reversible. Out of this Rs. 540.73 crores pertains to earlier years, which was credited to past reserves.
• Other income for the current year includes Rs. 302.97 crores on account of exchange gain on repatriation of funds from foreign offices.
• In accordance with UDAY (Ujwal Discom Assurance Yojna) Scheme of GOI, Ministry of Power for operational and financial turnaround of Power Distribution Companies (DISCOMs) during the FY 2015-16, the bank has subscribed to Non SLR SDL Bond of Government of Rajasthan (GoR) and Government of UP (GoUP) amounting to Rs. 1976.66 crs & Rs. 297.16 crores respectively.
• In compliance to the RBI letter No. DBR.BP.NO.11657/21.04:132/2015-16 dated 17th March 2016, bank has made the provision as under:
  • Rs. 121.63 crores in respect of segment not envisaged to be converted into SDL in FY 2016-17 @15% on Rs. 810.86 crores and classified as standard assets
  • Rs. 25.31 crores for diminution in the fair value of loan / DISCOM bonds.
• Bank is providing for employee benefits in accordance with the accounting standard (AS) -15 issued by ICAI. The same is calculated by actuarial valuation. The bank has during the year as a matter of prudence, decided to change one of the assumptions for actuarial calculation by shifting mortality rate table from LICI 1994-96 to IALM 2006-08. Due to this change, additional provision of Rs.1563.70. crore has been made during the quarter ended March 2016.
• During the year, the bank has revalued the premises forming part of its fixed assets schedule. These premises are revalued based on the reports of bank's approved valuers and the surplus arising from revaluation amount of Rs. 3241.31 crore has been added to "Revaluation Reserve" during current year.
• In compliance to the RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has provided a sum of Rs.289.45 crore being 15% of the existing outstanding of Rs. 1962.02 Crore as on 31.03.2016 under food credit availed by a State Government. As per RBI's directives, said provision was required to be made in two quarters i.e 7.5% in March, 2016 and 7.5% in June, 2016. However bank has decided to make the full required provision in March 2016 quarter.
• As advised by RBI vide circular no.DBR.BP.BC.No.31/21.04.018/2015-16 dated 16.07.2015, Bank has included its deposits placed with NABARD/SIDBI and NHB on account of shortfall in lending to Priority Sector, under "Other Assets" which were earlier included under "Investments". Interest income on these deposits has been included under "Interest Earned- Others"
• In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
• Non Performing Loan Provisioning Coverage Ratio is 60.09 % as on 31st March 2016.
• During the year, on 29th September 2015, Bank has allotted 9,26,63,692 shares of Rs. 2/- each fully paid up at a premium of Rs. 190.74 per share to the Government of India, as approved by shareholders in the Extra-ordinary General Meeting dated 28th Sept. 2015 in accordance with SEBI (ICDR) Regulations 2009 on preferential basis. Total amount received by Bank on this account is Rs. 1786 Crores
• During the year in compliance of ICDs, the unrealized gain for the year on translation of foreign currency items of non integral operations of bank amounting to Rs.562.89 Crores, credited to FCTR account, has been offered for tax. As this being a timing difference with reasonable certainty of repatriation of foreign currency funds / foreign currency movement and being capable of full reversal in future, the bank has created the Deferred tax Assets amounting to Rs.194.80 Crores on the same and the same has been credited to profit and loss account as per Accounting Standard-22.
• During the year a penalty of Rs. 49.43 lac was imposed by (RBI / Financial Intelligence Unit (FIU)/ Overseas Regulators).
• Details of Investor's complaints for the quarter ended 31.03.2016: Pending at Beginning - Nil; Received -201; Disposed off - 201; Closing - Nil
  • Liquidity Coverage Ratio (LCR) for Year ended 31st March, 2016 (154 KB)
  • Liquidity Coverage Ratio Quantitative Disclosure (94.4 KB)
• Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Assets

The figures for the quarter ended 31st March 2016 and the corresponding quarter ended in the previous year are the balancing figures of the audited figures and the reviewed year to date figures up to the end of third quarter of the relevant financial year. The figures of previous period have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Segment reporting for the Quarter /Year ended 31st March, 2016

Part A : Business Segments

Part B : Geographic Segments

Notes on Segment Reporting :

• As per guidelines of RBI on compliance with Accounting Standards, the 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.
• Segment revenue represents revenue from external customers.
• Capital employed for each segment has been allocated proportionate to the assets of the segment.
• The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.

Place : Mumbai
Date : 13.5.2016