2020-21 वित्‍तीय रिपोर्ट

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Financial Results March 21

SEBI Formate

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Unaudited Standalone Financial Results for the Quarter / Nine Months Ended 31st December 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2021 31.03.2020
      Unaudited Unaudited Unaudited Unaudited Unaudited Audited Audited
1   Interest earned (a)+(b)+(c)+(d) 1776872 1791759 1907111 5418047 5728521   7598365
  (a) Interest /discount on advances / bills 1275606 1283799 1358310 3867355 4082395 5411577
  (b) Income on investments 417222 425675 456905 1294364 1363359 1809736
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 41794 33420 37250 122349 134013 176873
  (d) Others 42250 48865 54646 133979 148754 200179
2   Other Income 289551 280226 273796 751605 748267 1031733
3   Total Income (1 + 2) 2066423 2071985 2180907 6169652 6476788 8630098
4   Interest Expended 1001999 1041006 1193886 3210814 3663211 4853237
5   Operating Expenses (a)+ (b) 505360 475797 491175 1412598 1356516 1807719
  (a) Employees cost 280023 255028 259416 759235 681507 876952
  (b) Other operating expenses 225337 220769 231759 653363 675009 930767
6   Total Expenditure (4+5) excluding provisions and contingencies 1507359 1516803 1685061 4623412 5019727 6660956
7   Operating Profit (3-6) before Provisions and Contingencies  559064 555182 495846 1546240 1457061 1969142
8   Provisions (other than tax) and Contingencies 395668 300159 715542 1258597 1464946 2149353
    of which provisions for NPA & Diminution value of all restructured a/cs 207985 227725 662061 781464 1321430 1640490
9   Exceptional Items                   -                        -                     -                     -                    -                        -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 163396 255023 (219696) 287643 (7885) (180211)
11   Provision for Taxes 57285 87163 (79000) 100098 (11844) (234829)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 106111 167860 (140696) 187545 3959 54618
13   Extraordinary items (net of tax expenses)                   -                        -                     -                     -                    -                        -  
14   Net Profit (+) / Loss (-) for the period  (12-13) 106111 167860 (140696) 187545 3959 54618
15   Paid-up equity share capital    (Face Value of Rs 2 each) 92537 92537 92537 92537 92537 92537
16   Reserve excluding Revaluation Reserve             6485133
17   Analytical Ratios            
  i) Percentage of shares held by Government of India 71.60 71.60 71.60 71.60 71.60 71.60
  ii) Capital Adequacy Ratio(%) -Basel-III 12.93 13.26 13.48 12.93 13.48 13.30
    a) CET 1 Ratio (%) 8.98 9.21 9.85 8.98 9.85 9.44
    b) Additional Tier 1 Ratio (%) 1.59 1.54 1.60 1.59 1.60 1.27
  iii) Earnings Per Share             
    Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 2.30 3.63 (3.70) 4.06 0.10 1.36
    Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 2.30 3.63 (3.70) 4.06 0.10 1.36
  iv) NPA Ratios            
    a) Gross NPA 6318155 6569801 7313970 6318155 7313970 6938143
    b) Net NPA 1666771 1679493 2650400 1666771 2650400 2157659
    c) % of Gross NPA 8.48 9.14 10.43 8.48 10.43 9.40
    d) % of Net NPA 2.39 2.51 4.05 2.39 4.05 3.13
  v) Return on Assets (annualized) % 0.37 0.59 (0.52) 0.21 0.01   0.06

Segment

Unaudited Standalone Segment reporting for the Quarter / Nine Months Ended 31st December 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2020
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Segment Revenue            
  (a) Treasury Operations 618789 626877 625890 1864647 1903480 2556563
  (b) Wholesale Banking 662331 813742 834554 2171967 2410751 3110787
  (c) Retail Banking 784350 629751 714126 2130470 2155901 2956092
  (d)Other Banking  Operations 953 1615 6337 2568 6656 6656
  Total Revenue 2066423 2071985 2180907 6169652 6476788 8630098
2 Segment Results            
  (a) Treasury Operations 138418 145775 106468 382264 354065 432778
  (b) Wholesale Banking (180076) 6325 (383625) (368792) (529730) (863401)
  (c) Retail Banking 364931 229888 177755 693264 540938 765577
  (d)Other Banking  Operations 953 1615 6422 2568 6657 6656
  Total 324226 383603 (92980) 709304 371930 341610
  Unallocated Expenditure  160830 128580 126716 421661 379815 521821
  Profit before Tax 163396 255023 (219696) 287643 (7885) (180211)
  Provision for Tax 57285 87163 (79000) 100098 (11844) (234829)
  Net Profit 106111 167860 (140696) 187545 3959 54618
3 Segment Assets            
  (a) Treasury Operations 41158677 40189002 31619913 41158677 31619913 38969206
  (b) Wholesale Banking 51839261 50074595 52353373 51839261 52353373 52378208
  (c) Retail Banking 22069990 22034069 24009751 22069990 24009751 23154150
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 2271703 1986762 1373296 2271703 1373296 1289987
  Total Assets 117339631 114284428 109356333 117339631 109356333 115791551
4 Segment Liabilities            
  (a) Treasury Operations 38567658 37633036 29567113 38567658 29567113 36550913
  (b) Wholesale Banking 48575878 46889919 48954535 48575878 48954535 49127798
  (c) Retail Banking 20680641 20632733 22451012 20680641 22451012 21717283
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 2128695 1860406 1284140 2128695 1284140 1209936
  Total Liabilities 109952872 107016094 102256800 109952872 102256800 108605930
5 Capital Employed            
  (a) Treasury Operations 2591019 2555966 2052800 2591019 2052800 2418293
  (b) Wholesale Banking 3263383 3184676 3398838 3263383 3398838 3250410
  (c) Retail Banking 1389349 1401336 1558739 1389349 1558739 1436867
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 143008 126356 89156 143008 89156 80051
  Total Capital Employed 7386759 7268334 7099533 7386759 7099533 7185621
Part- B : Geographic Segments
Sr. No.  Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2020
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Revenue            
  (a) Domestic  1980167 1959886 2018389 5833906 5984572 7982437
  (b) International 86256 112099 162518 335746 492216 647661
  Total 2066423 2071985 2180907 6169652 6476788 8630098
2 Assets            
  (a) Domestic  97511284 94060148 97119427 97511284 97119427 95806927
  (b) International 19828347 20224280 12236906 19828347 12236906 19984624
  Total 117339631 114284428 109356333 117339631 109356333 115791551

NOTES TO STANDALONE FINANCIAL RESULTS

    • The above standalone financial results have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on January 27, 2021. The same has been subjected to limited review by Statutory Central Auditors of the Bank.
    • The above standalone financial results for the quarter and nine months ended December 31, 2020 have been prepared in accordance with recognition and measurement principles laid down  in  Accounting Standard (AS-25) on 'Interim Financial Reporting' issued by the Institute of Chartered Accountants of India.
    • The Bank has continued to follow the same accounting policies and practices in preparation of financial results for the quarter/ nine months ended December 31, 2020 as followed in the previous financial year ended March 31, 2020. Provision for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis for the quarter and subject to adjustments, if any, at the year end.
    • In terms of Reserve Bank of India (RBI) guidelines Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
    • During the quarter, the Bank has issued AT-1 bonds aggregating to ₹ 83300 lakh.
    • As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/20 17-18 dated June 23, 2017 and August 28, 2017 respectively, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the Bank is holding total provision of ₹1012804 lakh being 100% of total outstanding as on December 31, 2020.
    • The Bank has estimated the liability for Unhedged Foreign Currency in terms of RBI circular DBOD.No.BP.BC.85/21.06.200/2013-14 dated January 15, 2014 and is holding a provision of ₹17148 lakh as on December 31, 2020.
    • The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 11, 2020 which resulted in declined economic activity and increased volatility in financial markets. There has been a gradual pick-up in economic activity since the easing of lockdown measures which led to resumption of economic activities. The challenges still continue to unfold and the Bank is gearing itself on all fronts to meet the same and is evaluating the situation on an ongoing basis. The extent to which the COVID-19 pandemic will impact the Bank's results will depend on future developments, which are highly uncertain including among other things the success of the newly developed vaccines, any new information concerning severity of the new strains of the COVID-19 pandemic and action to contain its spread or mitigate impact including further stimulus and regulatory packages, if any. The Bank's capital and liquidity position is strong and would continue to be the focus area for the Bank during this period.

      In accordance with the COVID-19 Regulatory Packages announced by the RBI on March 27, 2020, April 17, 2020 and May 23, 2020, the Bank, in accordance with its Board approved policy, offered a moratorium on the repayment of instalments and/or interest, as applicable, due between March 1, 2020 and August 31, 2020 to all eligible borrowers classified as standard, even if overdue, as on February 29, 2020. The asset classification in the moratorium granted accounts has been kept stand still during the moratorium period.

      The Bank holds provisions of ₹170935 lakh as on December 31, 2020 towards the potential impact of COVID-19. The provisions held by the Bank are in excess of the RBI prescribed norms.

    • In its Interim Order dated September 3, 2020, the Hon’ble Supreme Court of India (SC), In a public interest litigation (Gajendra Sharma vs Union Of India & Anr), has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders. Based on the said interim order, the Bank has not classified any account pertaining to Domestic operations as NPA, which was not NPA as of August 31, 2020.

      Pending disposal of the case in Hon’ble SC, the Bank as a matter of prudence has made a contingent provision of ₹ 152156 Lakh. Further, interest income aggregating to ₹ 36993 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been provided for. Total provision as on 31.12.2020 is ₹ 189149 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.63% and 3.36 % respectively.

    • RBI vide their circular no. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets issued guidelines for implementation of Resolution Plan, also containing requirements of additional provisions as per para 17 of this RBI circular. In compliance to the above RBI circular, the Bank holds adequate provision of ₹ 363545 lakh as on December 31, 2020.
    • As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019, RBI circular No DOR. No BP. BC. 34/21.04.048/2019-20 dated 11.02.2020, RBI circular No DOR. No BP. BC/4/21.04.048/2020-21 dated 06.08.2020, 72010 MSME borrower accounts were restructured amounting to ₹ 411762 Lakh as on December 31, 2020.
    • As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on December 31, 2020 is ₹ 33033 lakh (Includes provision of ₹ 1182 lakh on accounts which are reported as fraud in the fresh slippage of December 2020, however not degraded due to Hon’ble SC Stay order) which is to be amortised in the subsequent quarters by the Bank.
    •  Pursuant to the bipartite settlement on wage revision (due with effect from November 01, 2017), Bank holds a provision of sum of ₹ 265000 lakh as of December 31, 2020.
    • Government of India has inserted section 115BAA in the Income Tax Act 1961 (“Act”)  vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non-reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The Bank has assessed the applicability of the Act and opted to continue the existing tax rate (i.e. 34.944%) for the quarter/nine months period ended December 31, 2020.
    • Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 85.46% as on December 31, 2020.
    • The Bank has sold PSLC of ₹ 250000 Lakh during the quarter ended Dec 2020.
    • Number of Investors' complaints pending at the beginning of the quarter was NIL. The Bank has received 75 Investors' complaints during the quarter ended December 31, 2020. All complaints have been disposed of during the quarter. There are NIL pending Investors' complaints at the end of the quarter.
    • A penalty of ₹ 22.18 lakh has been imposed on the Bank by Reserve Bank of India for the quarter ended December 31, 2020.
    • Notes on Segment Reporting
      • As per the guidelines of the RBI on compliance with the Accounting Standards, the parent 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI).
      • Segment revenue represents revenue from external customers.
      • Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
    • The figures for the quarter ended December 31, 2020 are the balancing figures between reviewed figures in respect of the nine months ended December 31, 2020 and the published year to date figures up to September 30, 2020.

The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classifications.

Sanjiv Chadha Shanti Lal Jain; Vikramaditya Singh Khichi Ajay K Khurana Ian Desouza G Ramesh;
Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer; General Manager - Corporate Accounts and Taxation

Place: Mumbai
Date: January 27th, 2021

CFS SEBI Formate

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Unaudited Consolidated Financial Results for the Quarter / Nine Months Ended 31st December 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2020
      Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1   Interest earned (a)+(b)+(c)+(d) 1891471 1883725 1999053 5727561 5979052 7889470
  (a) Interest /discount on advances / bills 1310073 1318075 1392435 3971575 4184895 5549107
  (b) Income on investments 489890 476163 498063 1476545 1474431 1923360
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 49139 40000 48318 144318 162816 216015
  (d) Others 42369 49487 60237 135123 156910 200988
    Other Income 315581 301654 314414 833341 870567 1219133
3   Total Income (1 + 2) 2207052 2185379 2313467 6560902 6849619 9108603
4   Interest Expended 1040655 1079692 1231482 3325881 3772114 5003989
    Operating Expenses (a)+ (b) 525367 554708 556394 1549589 1550333 2057628
  (a) Employees cost 293606 267718 272048 798503 717717 927924
  (b) Other operating expenses 231761 286990 284346 751086 832616 1129704
6   Total Expenditure (4+5) excluding provisions and contingencies 1566022 1634400 1787876 4875470 5322447 7061617
7   Operating Profit (3-6) before Provisions and Contingencies  641030 550979 525591 1685432 1527172 2046986
8   Provisions (other than tax) and Contingencies 461888 277621 723362 1337418 1477201 2170377
    of which provisions for NPA & Diminution value of all restructured a/cs 208741 229453 668539 785429 1333457 1680354
9   Exceptional Items                        -                         -                         -                         -                         -                         -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 179142 273358 (197771) 348014 49971 (123391)
11   Provision for Taxes 63225 93928 (75884) 117694 3863 (217609)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 115917 179430 (121887) 230320 46108 94218
14   Net Profit (+) / Loss (-) for the period  (12-13) 115917 179430 (121887) 230320 46108 94218
    Less: Minority Interest 1896 1471 1957 5201 4810 5296
    Add: Share of earnings in Associates 5575 (838) 1940 3727 5535 3853
    Extraordinary items (net of tax expenses)                        -                         -                         -                         -                         -                         -  
    Net Profit (+) / Loss (-) for the period 119596 177121 (121904) 228846 46833 92775
15   Paid-up equity share capital
(Face Value of Rs 2 each)
92537 92537 92537 92537 92537 92537
16   Reserve excluding Revaluation Reserve           6905961
17   Analytical Ratios            
  i) Percentage of shares held by Government of India 71.60 71.60 71.60 71.60 71.60 71.60
  ii) Capital Adequacy Ratio(%) -Basel-III 13.60 14.00 13.98 13.60 13.98 13.87
    a) CET 1 Ratio (%) 9.76 10.05 10.45 9.76 10.45 10.10
    b) Additional Tier 1 Ratio (%) 1.53 1.48 1.55 1.53 1.55 1.22
  iii) Earnings Per Share             
    Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 2.59 3.83 (3.20) 4.95 1.23 2.32
    Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 2.59 3.83 (3.20) 4.95 1.23 2.32
  iv) NPA Ratios            
  (a) Gross NPA Not Applicable
    Net NPA
% of Gross NPA
    % of Net NPA
  v) Return on Assets (annualized) %

CFS Segment

Unaudited Consolidated Segment reporting for the Quarter/ Nine Months Ended 31st December 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2020
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Segment Revenue            
  (a) Treasury Operations 636302 662098 660714 1951611 2002689 2687198
  (b) Wholesale Banking 681964 830618 858301 2227094 2468141 3186801
  (c) Retail Banking 812999 652370 729698 2199828 2214287 3037487
  (d)Other Banking  Operations 75787 40293 64753 182369 164502 197117
  Total Revenue 2207052 2185379 2313466 6560902 6849619 9108603
2 Segment Results            
  (a) Treasury Operations 145167 166642 116592 423165 384251 470697
  (b) Wholesale Banking (174624) 9562 (371346) (352364) (504180) (844080)
  (c) Retail Banking 370058 235386 174337 707471 544770 764243
  (d)Other Banking  Operations 4637 (10282) 10719 (5743) 9678 11879
  Total 345238 401308 (69698) 772529 434519 402739
  Unallocated Expenditure  162417 130259 128091 425989 383823 527573
  Profit before Tax 182821 271049 (197789) 346540 50696 (124834)
  Provision for Tax 63225 93928 (75884) 117694 3863 (217609)
  Net Profit 119596 177121 (121905) 228846 46833 92775
3 Segment Assets            
  (a) Treasury Operations 43473186 42450370 33873629 43473186 33873629 41222922
  (b) Wholesale Banking 52652781 50918555 53188356 52652781 53188356 53213192
  (c) Retail Banking 22734737 22629997 24599449 22734737 24599449 23749084
  (d)Other Banking  Operations 1165443 718260 641185 1165443 641185 515784
  (e) Unallocated 2290552 2068682 1376541 2290552 1376541 1293231
  Total Assets 122316699 118785864 113679160 122316699 113679160 119994213
4 Segment Liabilities            
  (a) Treasury Operations 40665337 39677793 31614929 40665337 31614929 38608429
  (b) Wholesale Banking 49252040 47592892 49641746 49252040 49641746 49838235
  (c) Retail Banking 21266344 21151956 22959153 21266344 22959153 22242838
  (d)Other Banking  Operations 1090169 671348 598431 1090169 598431 483072
  (e) Unallocated 2142610 1933569 1284753 2142610 1284753 1211210
  Total Liabilities 114416500 111027558 106099012 114416500 106099012 112383784
5 Capital Employed            
  (a) Treasury Operations 2807849 2772577 2258700 2807849 2258700 2614493
  (b) Wholesale Banking 3400741 3325663 3546610 3400741 3546610 3374957
  (c) Retail Banking 1468393 1478041 1640296 1468393 1640296 1506246
  (d)Other Banking  Operations 75274 46912 42754 75274 42754 32712
  (e) Unallocated 147942 135113 91788 147942 91788 82021
  Total Capital Employed 7900199 7758306 7580148 7900199 7580148 7610429
   
Part- B : Geographic Segments    
Sr. No.  Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 31.03.2020
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Revenue            
  (a) Domestic  2071860 2024378 2103420 6078287 6219132 8273811
  (b) International 135192 161001 210046 482615 630487 834792
  Total 2207052 2185379 2313466 6560902 6849619 9108603
2 Assets            
  (a) Domestic  99496854 95643198 98670732 99496854 98670732 96981447
  (b) International 22819845 23142666 15008428 22819845 15008428 23012766
  Total 122316699 118785864 113679160 122316699 113679160 119994213

NOTES TO CONSOLIDATED FINANCIAL RESULTS:

    • The above consolidated financial results of Bank of Baroda (hereinafter referred as “Bank”) including Subsidiaries (hereinafter referred as “Group”), Joint Ventures and Associates have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on January 27, 2021. The same has been subjected to limited review by Statutory Central Auditors of the Bank. 
    • The above consolidated financial results are prepared in accordance with Accounting Standard 25 on “Interim Financial Reporting”, Accounting Standard 21 on “Accounting for Consolidated Financial Statements”, Accounting Standard 23 on Accounting for “Investment in Associates” and Accounting Standard 27 on “Financial Reporting of Interest in Joint Venture”.
    • The Group has continued to follow the same accounting policies and practices in preparation of financial statement for the quarter/nine months ended December 31, 2020 as followed in the previous financial year ended March 31, 2020. Provision for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis for the quarter and subject to adjustments, if any, at the year end.
    • In terms of Reserve Bank of India (RBI) guidelines Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
    • The Consolidated Financial Results comprises the financial results of 7 Domestic Subsidiaries, 8 Overseas Subsidiaries, 4 Associates and 3 Joint Ventures as under :-
A. Subsidiaries Country of Incorporation Type Percentage of Holding
i The Nainital Bank Limited India Banking 98.57%
ii BOB Financial Solutions Limited India Non-Banking 100%
iii BOB Capital Markets Limited India Non-Banking 100%
iv Baroda Global Shared Services Limited India Non-Banking 100%
v Baroda Sun Technologies Limited India Non-Banking 100%
vi Baroda Asset Management India Limited (Formerly known as Baroda Pioneer Asset Management Co. Limited) India Non-Banking 100%
vii Baroda Trustee India Private Limited (Formerly known as Baroda Pioneer Trustee Company Private Limited) India Non-Banking 100%
viii Bank of Baroda (Uganda) Limited (consolidated) Uganda Banking 80%
Baroda Capital Markets (Uganda) Limited (Subsidiary of Baroda (Uganda) Limited. Uganda Banking 100%
ix Bank of Baroda (Kenya) Limited Kenya Banking 86.70
x Bank of Baroda (Botswana) Limited Botswana Banking 100%
xi Bank of Baroda (New Zealand) Limited New Zealand Banking 100%
xii Bank of Baroda (Guyana) Inc. Guyana Banking 100%
xiii Bank of Baroda (UK) Limited United Kingdom Banking 100%
xiv Bank of Baroda (Tanzania) Limited Tanzania Banking 100%
xv Bank of Baroda (Trinidad and Tobago) Ltd Trinidad and Tobago Banking 100%
B. Joint Ventures
i India Infradebt Limited India 40.99%
ii  India First Life Insurance Company Limited India 44%
iii India International Bank (Malaysia) Bhd Malaysia 40%
C.  Associates
i Baroda U.P. Bank, Gorakhpur India 35%
ii Baroda Rajasthan Kshetriya Gramin Bank India 35%
iii Baroda Gujarat Gramin Bank India 35%
iv Indo Zambia Bank Limited    Zambia 20%
  • The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 11, 2020 which resulted in declined economic activity and increased volatility in financial markets. There has been a gradual pick-up in economic activity since the easing of lockdown measures which led to resumption of economic activities. The challenges still continue to unfold and the Bank is gearing itself on all fronts to meet the same and is evaluating the situation on an ongoing basis. The extent to which the COVID-19 pandemic will impact the Bank's results will depend on future developments, which are highly uncertain including among other things the success of the newly developed vaccines, any new information concerning severity of the new strains of the COVID-19 pandemic and action to contain its spread or mitigate impact including further stimulus and regulatory packages, if any. The Bank's capital and liquidity position is strong and would continue to be the focus area for the Bank during this period.

    In accordance with the COVID-19 Regulatory Packages announced by the RBI on March 27, 2020, April 17, 2020 and May 23, 2020, the Group, in accordance with its Board approved policy, offered a moratorium on the repayment of instalments and/or interest, as applicable, due between March 1, 2020 and August 31, 2020 to all eligible borrowers classified as standard, even if overdue, as on February 29, 2020. The asset classification in the moratorium granted accounts has been kept stand still during the moratorium period.

    The Group holds provisions of ₹ 171348 lakh as on December 31, 2020 towards the potential impact of COVID-19.

  • In its Interim Order dated September 3, 2020, the Hon’ble Supreme Court of India (SC), In a public interest litigation (Gajendra Sharma vs Union Of India & Anr), has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders. Based on the said interim order, the Bank has not classified any account pertaining to Domestic operations as NPA, which was not NPA as of August 31, 2020.

    Pending disposal of the case in Hon’ble SC, the Group as a matter of prudence has made a contingent provision of ₹ 152292 Lakh. Further, interest income aggregating ₹ 36993 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been provided for. Total provision as on 31.12.2020 is ₹ 189285 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.63% and 3.36% respectively.

  • As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019, RBI circular No DOR. No BP. BC. 34/21.04.048/2019-20 dated 11.02.2020, RBI circular No DOR. No BP. BC/4/21.04.048/2020-21 dated 06.08.2020, 72010 MSME borrower accounts were restructured amounting to ₹ 411762 Lakh as on December 31, 2020.
  • As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Group has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on December 31, 2020 is ₹ 33033 lakh (Includes provision of ₹ 1182 lakh on accounts which are reported as fraud in the fresh slippage of December 2020, however not degraded due to Hon’ble SC Stay order) which is to be amortised in the subsequent quarters by the Bank.
  • Government of India has inserted section 115BAA in the Income Tax Act 1961  vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non-reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The Bank has assessed the applicability of the act and opted to continue the existing tax rate i.e.34.944% for the quarter/nine months ended December 31, 2020.   
  • Pursuant to the bipartite settlement on wage revision (due with effect from November 01, 2017), Group holds a provision of sum of ₹ 267225 lakh as of December 31, 2020.
  • Notes on Segment Reporting
    • As per the guidelines of the RBI on compliance with the 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI).
    • Segment revenue represents revenue from external customers.
    • Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The figures for the quarter ended December 31, 2020 are the balancing figures between reviewed figures in respect of the nine months ended December 31, 2020 and the published year to date figures up to September 30, 2020.
  • The figures of the previous period have been regrouped/rearranged, wherever necessary, to confirm to the current period classification
    Sanjiv Chadha Shanti Lal Jain; Vikramaditya Singh Khichi Ajay K Khurana Ian Desouza G Ramesh;
    Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer; General Manager - Corporate Accounts and Taxation

LCR disclosure file for Q3 FY2020-21 (December 2020)

Liquidity Coverage Ratio (LCR) Disclosure - December 2020 (Rs in crs)
Name of the Bank : Bank of Baroda Daily Averages of Q3 Ending December 2020
(Solo basis)
Daily Averages of Q3 Ending December  2020
(Consolidated basis)
Total Unweighted Value  Total Weighted Value  Total Unweighted Value  Total Weighted Value 
High Quality Liquid Assets 
1 Total High Quality Liquid Assets (HQLA)   231,956.42   236,297.60
Cash Outflows 
2 Retail deposit and deposits from small business customers, of which:  591,286.57 55,405.22 613,701.57 57,305.21
(i) Stable Deposits   74,468.82 3,723.44 81,298.93 4,064.95
(ii) Less Stable Deposits 516,817.75 51,681.78 532,402.64 53,240.26
3 Unsecured wholesale funding, of which: 149,375.47 81,061.35  155,867.87 85,209.31
(i) Operational deposits (all counterparties)                      -                     -                      -                         -  
(ii) Non-operational deposits (all counterparties) 149,375.47 81,061.35 155,867.87 85,209.31
(iii) Unsecured debt                      -                     -                      -                         -  
4 Secured wholesale Funding 32,482.56                   -   32,482.56                       -  
5 Additional requirements, of which 128,249.89 13,967.09 130,386.01 14,164.76
(i) Outflows related to derivative exposures and other collateral requirements  10.45 10.45 10.45 10.45
(ii) Outflows related to loss of funding on debt products                      -                     -                      -                         -  
(iii) Credit and liquidity facilities  128,239.44 13,956.63 130,375.55 14,154.31
6 Other contractual funding obligations 967.62 967.62 1,128.72 1,128.72
7 Other contingent funding obligations 83,827.46 2,566.69 84,818.68 2,596.43
8 TOTAL CASH OUTFLOWS 986,189.57 153,967.97 1,018,385.41 160,404.44
Cash Inflows
9 Secured lending (e.g. reverse repos) 26,756.94                   -   26,756.94                       -  
10 Inflows from fully performing exposures 29,692.86 24,832.99 32,220.18 26,840.16
11 Other cash inflows 1,753.06 813.74 1,923.98 900.71
12 TOTAL CASH INFLOWS 58,202.87 25,646.73 60,901.10 27,740.87
    Total Adjusted Value Total Adjusted Value
13 TOTAL HQLA   231,956.42   236,297.60
14 TOTAL NET CASH OUTFLOWS  128,321.23 132,663.57
15 LIQUIDITY COVERAGE RATIO (%) 180.76% 178.12%

Note: The Liquidity Coverage Ratio mentioned above is the daily average of 69 working days for the quarter October - December 2020

Chief Manager Brahm P Janghu Balasubramanyam Lanka
(ALM Cell- Global Mid Office) Asst. General Manager Dy. General Manager
Risk Management Department (Global Mid Office) (Global Mid Office)
Risk Management Department Risk Management Department
ALM CELL- Global Mid Office
Risk Management Department, Mumbai
Date:02.02.2021
STATEMENT OF ASSETS & LIABILITIES. (Rs. in Lakhs)
Particulars Standalone Consolidated
As on
31st Dec. 2020
As on
31st Dec. 2019
As on
31st Dec. 2020
As on
31st Dec. 2019
  Unaudited Unaudited Unaudited Unaudited
CAPITAL & LIABILITIES        
Capital 92537 92537 92537 92537
Reserves and Surplus 7294221 7006996 7807661 7451507
Deposits 95456081 89616161 98530452 92342620
Borrowings 9146323 8978606 9679816 9331409
Other Liabilities and Provisions  5350469 3662033 6163178 4424982
T O T A L 117339631 109356333 122316699 113679160
ASSETS        
Cash and Balances with Reserve Bank of India 3115278 3650989 3285727 3817299
Balances with Banks and Money at Call and Short Notice 10081841 7583561 11078054 8559776
Investments 26710821 26580084 28680957 28097907
Advances 69865161 65446509 71532347 66964336
Fixed Assets 835552 921934 850804 936866
Other Assets  6730978 5173256 6866419 5280585
Goodwill on Consolidation NA NA 22391 22391
T O T A L 117339631 109356333 122316699 113679160

Solo SEBI Format

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Reviewed Standalone Financial Results for the Quarter / Half Year Ended 30th September 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended Half Year Ended  
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
      Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1   Interest earned (a)+(b)+(c)+(d) 1791759 1849416 1927077 3641175 3821410 7598365
  (a) Interest /discount on advances / bills 1283799 1307950 1389071 2591749 2724085 5411577
  (b) Income on investments 425675 451467 441860 877142 906454 1809736
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 33420 47135 46588 80555 96763 176873
  (d) Others 48865 42864 49558 91729 94108 200179
2   Other Income 280226 181828 282714 462054 474471 1031733
3   Total Income (1 + 2) 2071985 2031244 2209791 4103229 4295881 8630098
4   Interest Expended 1041006 1167809 1224604 2208815 2469325 4853237
5   Operating Expenses (a)+ (b) 475797 431441 451595 907238 865341 1807719
  (a) Employees cost 255028 224184 228149 479212 422091 876952
  (b) Other operating expenses 220769 207257 223446 428026 443250 930767
6   Total Expenditure (4+5) excluding provisions and contingencies 1516803 1599250 1676199 3116053 3334666 6660956
7   Operating Profit (3-6) before Provisions and Contingencies  555182 431994 533592 987176 961215 1969142
8   Provisions (other than tax) and Contingencies 300159 562770 420916 862929 749404 2149353
    of which provisions for NPA & Diminution value of all restructured a/cs 227725 345754 342533 573479 659369 1640490
9   Exceptional Items                -                  -                  -                  -                  -                   -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 255023 (130776) 112676 124247 211811 (180211)
11   Provision for Taxes 87163 (44350) 39008 42813 67156 (234829)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 167860 (86426) 73668 81434 144655 54618
13   Extraordinary items (net of tax expenses)                -                  -                  -                  -                  -                   -  
14   Net Profit (+) / Loss (-) for the period  (12-13) 167860 (86426) 73668 81434 144655 54618
15   Paid-up equity share capital    (Face Value of Rs 2 each) 92537 92537 77061 92537 77061 92537
16   Reserve excluding Revaluation Reserve           6485133
17   Analytical Ratios            
  i) Percentage of shares held by Government of India 71.60 71.60 69.23 71.60 69.23 71.60
  ii) Capital Adequacy Ratio(%) -Basel-III 13.26 12.84 12.98 13.26 12.98 13.30
    a) CET 1 Ratio (%) 9.21 9.08 9.84 9.21 9.84 9.44
    b) Additional Tier 1 Ratio (%) 1.54 1.25 1.07 1.54 1.07 1.27
  iii) Earnings Per Share             
    Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 3.63 (1.87) 2.01 1.76 3.95 1.36
    Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 3.63 (1.87) 2.01 1.76 3.95 1.36
  iv) NPA Ratios            
    a) Gross NPA 6569801 6913201 6996895 6569801 6996895 6938143
    b) Net NPA 1679493 1944968 2489438 1679493 2489438 2157659
    c) % of Gross NPA 9.14 9.39 10.25 9.14 10.25 9.40
    d) % of Net NPA 2.51 2.83 3.91 2.51 3.91 3.13
  v) Return on Assets (annualized) % 0.59 (0.30) 0.28 0.14 0.31 0.06

Solo Segment

Reviewed Standalone Segment reporting for the Quarter / Half Year Ended 30th September 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended Half Year Ended Year Ended
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Segment Revenue            
  (a) Treasury Operations 626877 618981 659165 1245858 1277590 2556563
  (b) Wholesale Banking 813742 695894 730648 1509636 1576197 3110787
  (c) Retail Banking 629751 716369 819859 1346120 1441775 2956092
  (d)Other Banking  Operations 1615                          -   119 1615 319 6656
  Total Revenue 2071985 2031244 2209791 4103229 4295881 8630098
2 Segment Results            
  (a) Treasury Operations 145775 98071 117775 243846 247597 432778
  (b) Wholesale Banking 6325 (195041) (148471) (188716) (146105) (863401)
  (c) Retail Banking 229888 98445 256518 328333 363183 765577
  (d)Other Banking  Operations 1615                          -   35 1615 235 6656
  Total 383603 1475 225857 385078 464910 341610
  Unallocated Expenditure  128580 132251 113181 260831 253099 521821
  Profit before Tax 255023 (130776) 112676 124247 211811 (180211)
  Provision for Tax 87163 (44350) 39008 42813 67156 (234829)
  Net Profit 167860 (86426) 73668 81434 144655 54618
3 Segment Assets            
  (a) Treasury Operations 40189002 37715413 31373438 40189002 31373438 38969206
  (b) Wholesale Banking 50074595 52254420 45444440 50074595 45444440 52378208
  (c) Retail Banking 22034069 21451140 29216716 22034069 29216716 23154150
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 1986762 1804566 1240737 1986762 1240737 1289987
  Total Assets 114284428 113225539 107275331 114284428 107275331 115791551
4 Segment Liabilities            
  (a) Treasury Operations 37633036 35347055 29296645 37633036 29296645 36550913
  (b) Wholesale Banking 46889919 48973078 42436205 46889919 42436205 49127798
  (c) Retail Banking 20632733 20104105 27282689 20632733 27282689 21717283
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 1860406 1691247 1158604 1860406 1158604 1209936
  Total Liabilities 107016094 106115485 100174143 107016094 100174143 108605930
5 Capital Employed            
  (a) Treasury Operations 2555966 2368358 2076793 2555966 2076793 2418293
  (b) Wholesale Banking 3184676 3281342 3008235 3184676 3008235 3250410
  (c) Retail Banking 1401336 1347035 1934027 1401336 1934027 1436867
  (d)Other Banking  Operations                        -                            -                            -                            -                            -                            -  
  (e) Unallocated 126356 113319 82133 126356 82133 80051
  Total Capital Employed 7268334 7110054 7101188 7268334 7101188 7185621
Part- B : Geographic Segments
Sr. No.  Particulars Quarter Ended Half Year Ended Year Ended
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Revenue            
  (a) Domestic  1959886 1893853 2049512 3853739 3966183 7982437
  (b) International 112099 137391 160279 249490 329698 647661
  Total 2071985 2031244 2209791 4103229 4295881 8630098
2 Assets            
  (a) Domestic  94060148 94288769 95599967 94060148 95599967 95806927
  (b) International 20224280 18936770 11675364 20224280 11675364 19984624
  Total 114284428 113225539 107275331 114284428 107275331 115791551

Solo Notes SEBI

Notes to Accounts.
1. STATEMENT OF ASSETS & LIABILITIES. (Rs. in Lakhs)
Particulars Standalone
As on
30th Sept. 2020
As on
30th Sept. 2019
As on
31st March. 2020
  Reviewed Reviewed Audited
CAPITAL & LIABILITIES      
Capital 92537 77061 92537
Share Application Money Pending Allotment                                          -   700000                                            -  
Reserves and Surplus 7175797 6324127 7093084
Deposits 95434019 89412977 94598443
Borrowings 6651829 7698833 9306931
Other Liabilities and Provisions  4930246 3062333 4700556
T O T A L 114284428 107275331 115791551
ASSETS      
Cash and Balances with Reserve Bank of India 3902169 4016258 3264585
Balances with Banks and Money at Call and Short Notice 9718948 7166072 8925527
Investments 26595398 26415104 27461461
Advances 66985105 63734024 69012073
Fixed Assets 856571 960155 888929
Other Assets  6226237 4983718 6238976
T O T A L 114284428 107275331 115791551
Contingent Liabilities 38275744 43836309 37961041*
Bills for collection 4675018 5885245 5200974
*inadvertently reported in financials as Rs.32074763 lakhs in March, 2020.
2. STATEMENT OF STANDALONE CASH FLOW  FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2020 (Rs. in Lakhs)
Particulars Half Year ended
30th Sept 2020
Half Year ended
30th Sept 2019
Year ended
31st March 2020
Reviewed Reviewed Audited
A. Cash flow from operating activities:      
Net Profit before taxes 124247 211810 (180211)
Adjustments for:       
Depreciation on fixed assets 63752 85329 165965
Depreciation on investments (including on Matured debentures) (4525) 24491 98674
Bad debts written-off/Provision in respect of non-performing assets 573479 659369 1640490
Provision for Standard Assets 250136 18447 308548
Provision for Other items (Net) 43839 47097 101641
Profit/(loss) on sale of fixed assets (Net) 121 (16) (370)
Payment/provision for interest on bonds 93513 53287 167443
Dividend received from subsidiaries/others  (2462) (7493) (9991)
Sub total 1142100 1092321 2292189
Adjustments for:      
(Increase)/Decrease in investments 875017 (215266) (1330898)
(Increase)/Decrease in advances 1453489 745009 (5514160)
(increase)/Decrease in other assets (150798) 50591 (870506)
Increase/(Decrease)in borrowings (2593292) (19472) 1158606
Increase/(Decrease) in deposits 835576 (2102924) 3082542
Increase/(Decrease) in other liabilities and provisions (63006) (74280) 1279647
Direct taxes paid (Net of Refund) 120723 27708 (4470)
Net cash from operating  activities (A) 1619809 (496313) 92950
       
B. Cash flow from investing activities:      
Purchase/ Transfer in of fixed assets (135938) (223888) (324725)
Sales/ Transfer out of fixed assets 104423 223097 314879
Changes in Trade related investments (Subsidiaries & others) (4428) 19040 14132
Dividend received from subsidiaries/others 2462 7493 9991
Cash paid to shareholders of erstwhile Vijaya Bank and Dena Bank towards fractional entitlements consequent to amalgamation                                          -   (174) (174)
Net cash used in investing activities (B) (33481) 25568 14103
       
C. Cash flow from financing activities:      
Share Capital/ Share Application Money/ Share Premium                                          -   701327 815447
Unsecured Subordinated Bonds (61810) 380950 810970
Dividend paid including dividend tax                                          -                                            -                                              -  
Payment/provision for interest on bonds (93513) (53287) (167443)
Net cash from  financing activities (C) (155323) 1028990 1458974
Cash & cash equivalents received on account of amalgamation (D)                                          -   1701123 1701123
Net increase in cash & cash equivalents (A)+(B)+(C)+(D)                             143,10,05                             225,93,68                               326,71,50
       
Cash and cash equivalents as at the beginning of the year 12190112 8922962 8922962
Cash and cash equivalents as at the end of the year 13621117 11182330 12190112
Cash & Cash equivalents includes Cash on hand, Balance with RBI & Other banks and Money at call and Short Notice.
  As on As on As on
Components of Cash & Cash Equivalents 30th Sept 2020 30th Sept 2019 31st March 2020
Cash & Balance with RBI 3902169 4016258 3264585
Balances with Banks and Money at Call and Short Notice 9718948 7166072 8925527
Total 13621117 11182330 12190112

Standalone SEBI Notes Sept 2020

  • The above standalone financial results have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on October 29, 2020. The same has been subjected to limited review by Statutory Central Auditors of the Bank.
  • The Bank has continued to follow the same accounting policies in preparation of financial results for the quarter/Half Year ended September 30, 2020 as followed in the previous financial year ended March 31, 2020.
  • As a consistent practice, the Bank has continued to make a provision of 20% on the Secured Sub-standard Advances as against the regulatory minimum requirement of 15%. The Bank also continues to make 100% provision on certain classes of non-performing retail advances. In addition to the above, the Bank has also continued to maintain provision on non-fund based facilities of NPA borrowers, by applying 50% credit conversion factor (CCF), based on the asset class of the fund-based facility of the borrower.
  • The figures for the quarter ended September 30, 2020 are the balancing figures between reviewed figures in respect of the half year end September 30, 2020 and the published year to date figures up to June 30, 2020.
  • In terms of Reserve Bank of India (RBI) guidelines Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
  • During the quarter, the Bank has exercised the call option and redeemed bonds amounting to Rs.121150 Lakh. The Bank has issued AT-1 bonds aggregating to Rs.174500 lakh.
  • Other income of the Bank includes brokerage, commission, fees, income from foreign exchange fluctuation, profit / loss on sale of investments, recovery from written off accounts etc.
  • As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/20 17-18 dated June 23, 2017 and August 28, 2017 respectively, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the Bank is holding total provision of Rs.1090798 lakh being 100% of total outstanding as on September 30, 2020.
  • The Bank has estimated the liability for Unhedged Foreign Currency in terms of RBI circular DBOD.No.BP.BC.85/21.06.200/2013-14 dated January 15, 2014 and is holding a provision of Rs.18535 lakh as on September 30, 2020.
  • The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 11, 2020 and affected world economy as well as Indian economy. On account of continuous volatility in financial market, the Bank has considered internal and external sources of information including economic forecasts and industry reports up to the date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of advances & provision thereon, investment valuation, other assets and liabilities of the Bank. Given the uncertainty because of COVID-19 pandemic, the Bank is continuously monitoring any material change in future economic condition which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as at the date of approval of these financial results.
  • RBI has announced measures under Regulatory Package for COVID-19 vide its circulars dated March 27, 2020, April 17, 2020, May 23, 2020 and August 6, 2020. In accordance with RBI Guidelines, the Bank is required to make provision not less than 10% of the outstanding advances in respect of borrower account where asset classification benefit has been granted. However, the Bank had made provision @20% in March 31, 2020 while w.e.f. April 1, 2020 provision @10% is made wherever said benefit is extended to the borrowers. Details of relief extended in terms of said circular are as follows:
    S.No Particulars Amount (In Rs lakh)
    1. Respective amounts in SMA/overdue categories, where the moratorium/deferment was extended as on  September 30, 2020 8589855
    2. Respective amount, where asset classification benefit is extended as on  September 30, 2020 1402249
    3. a) Provision made during the Q4 FY 2020 81065
    3. b) Provision made during the Q1 FY 2021
    (Reversal of Rs.6907 lakh done in Q1 FY2021 out of provision made during Q4 FY2020 on account of slippage
    106519
    4. Provision adjusted during the Half year ended September 30, 2020 against slippage /account closure/change in balance 12769
    5. Residual Provision held as on September 30, 2020 174815
  • 13. In its Interim Order dated September 3, 2020, the Hon’ble Supreme Court of India (SC), In a public interest litigation (Gajendra Sharma vs Union Of India & Anr), has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders. Based on the said interim order, the Bank has not classified any account as NPA, which was not NPA as of August 31, 2020.

    Pending disposal of the case in Hon’ble SC, the Bank as a matter of prudence has made a contingent provision of Rs.19520 Lakh in respect of such accounts that were not classified as NPA. Further, In respect of above accounts, interest income aggregating Rs.9792 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been made as additional provision against those Assets. Total additional provision as on 30.09.2020 is Rs.29312 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.33% and 2.67% respectively.
  • As per the Govt. of India Scheme, the difference between compound interest and simple interest to eligible borrowers from 01.03.2020 to 31.08.2020 is to be credited to their respective account by 05.11.2020. For accounts closed during the said period, the period for crediting would be from 01.03.2020 and restricted to date of closure of account. The claim for reimbursement is to be made to the Govt. of India latest by 05.12.2020. No effect of the circular has been given in the enclosed financial statements.
  • RBI vide their circular no. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets issued guidelines for implementation of Resolution Plan, also containing requirements of additional provisions as per para 17 of this RBI circular. The outstanding in such cases as on September 30, 2020 is Rs.1046733 lakh and in compliance the above RBI circular, the Bank has made additional provision of Rs.633 lakh during the quarter ended September 30, 2020 and holds total provision of Rs.361550 lakh as on September 30, 2020.
  • As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019, RBI circular No DOR. No BP. BC. 34/21.04.048/2019-20 dated 11.02.2020, RBI circular No DOR. No BP. BC/4/21.04.048/2020-21 dated 06.08.2020, 64698 MSME borrower accounts were restructured amounting to Rs.320523 Lakh as on September 30, 2020.
  • As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on September 30, 2020 is Rs.101378 lakh which is to be amortised in the subsequent quarters by the Bank.
  • Pursuant to the proposed bipartite agreement on wage revision (due with effect from November 01, 2017), Bank holds provision of sum of Rs.240000 lakh as of September 30, 2020. During the quarter, the Bank has made provision of Rs.20000 lakh on wage revision.
  • Government of India has inserted section 115BAA in the Income Tax Act 1961 (“Act”) vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non-reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The Bank has assessed the applicability of the Act and opted to continue the existing tax rate (i.e. 34.944%) for the quarter/Half Year ended September 30, 2020.
  • Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 85.35% as on September 30, 2020.
  • The Bank has sold PSLC (Priority Sector lending Certificates) of Rs.270000 Lakh during the current quarter under the category Small and Marginal Farmer. The Bank had purchased PSLC of Rs.400000. Lakh during the quarter ended June 2020.
  • . Number of Investors' complaints pending at the beginning of the quarter was NIL. The Bank has received 89 Investors' complaints during the quarter ended September 30, 2020. All complaints have been disposed of during the quarter. There are NIL pending Investors' complaints at the end of the quarter.
  • . A penalty of Rs.12.62 lakh has been imposed on the Bank by Reserve Bank of India for the quarter ended September 30, 2020 involving 27 instances of non-compliance with guidelines related to Currency Chest and remittances.
  • Notes on Segment Reporting
    • As per the guidelines of the RBI on compliance with the Accounting Standards, the parent 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI).
    • Segment revenue represents revenue from external customers.
    • Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classifications.
Sanjiv Chadha Murali Ramaswami Shanti Lal Jain Vikramaditya Singh Khichi Subrat Kumar G Ramesh
Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer General Manager - Corporate Accounts

CFS SEBI Formate

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Reviewed Consolidated Financial Results for the Quarter / Half Year Ended 30th September 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended Half Year Ended  
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
      Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1   Interest earned (a)+(b)+(c)+(d) 1883725 1952365 2007668 3836090 3979999 7889470
  (a) Interest /discount on advances / bills 1318075 1343427 1423349 2661502 2792460 5549107
  (b) Income on investments 476163 510492 476903 986655 976368 1923360
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 40000 55179 56147 95179 114498 216015
  (d) Others 49487 43267 51269 92754 96673 200988
2   Other Income 301654 216106 322789 517760 556153 1219133
3   Total Income (1 + 2) 2185379 2168471 2330457 4353850 4536152 9108603
4   Interest Expended 1079692 1205534 1261054 2285226 2540632 5003989
5   Operating Expenses (a)+ (b) 554708 469514 507151 1024222 993939 2057628
  (a) Employees cost 267718 237179 240099 504897 445669 927924
  (b) Other operating expenses 286990 232335 267052 519325 548270 1129704
6   Total Expenditure (4+5) excluding provisions and contingencies 1634400 1675048 1768205 3309448 3534571 7061617
7   Operating Profit (3-6) before Provisions and Contingencies  550979 493423 562252 1044402 1001581 2046986
8   Provisions (other than tax) and Contingencies 277621 597909 432222 875530 753839 2170377
    of which provisions for NPA & Diminution value of all restructured a/cs 229453 347235 347086 576688 664918 1680354
9   Exceptional Items                        -                         -                         -                         -                         -                         -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 273358 (104486) 130030 168872 247742 (123391)
11   Provision for Taxes 93928 (39459) 44648 54469 79747 (217609)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 179430 (65027) 85382 114403 167995 94218
14   Net Profit (+) / Loss (-) for the period  (12-13) 179430 (65027) 85382 114403 167995 94218
  Less: Minority Interest 1471 1834 1630 3305 2853 5296
  Add: Share of earnings in Associates (838) (1010) 1589 (1848) 3595 3853
  Extraordinary items (net of tax expenses)                        -                         -                         -                         -                         -                         -  
  Net Profit (+) / Loss (-) for the period 177121 (67871) 85341 109250 168737 92775
15   Paid-up equity share capital
(Face Value of Rs 2 each)
92537 92537 77061 92537 77061 92537
16   Reserve excluding Revaluation Reserve           6905961
17   Analytical Ratios            
i) Percentage of shares held by Government of India 71.60 71.60 69.23 71.60 69.23 71.60
ii) Capital Adequacy Ratio(%) -Basel-III 14.00 13.66 13.45 14.00 13.45 13.87
  a) CET 1 Ratio (%) 10.05 9.98 10.38 10.05 10.38 10.10
  b) Additional Tier 1 Ratio (%) 1.48 1.22 1.03 1.48 1.03 1.22
iii) Earnings Per Share             
  Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 3.83 (1.47) 2.33 2.36 4.60 2.32
  Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] 3.83 (1.47) 2.33 2.36 4.60 2.32
iv) NPA Ratios            
(a) Gross NPA Not Applicable
  Net NPA
% of Gross NPA
  % of Net NPA
v) Return on Assets (annualized) %

CFS segment

Reviewed Consolidated Segment reporting for the Half Year / Quarter Ended 30th September 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended Half Year Ended Year Ended
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Segment Revenue            
  (a) Treasury Operations 662098 653211 693210 1315309 1341975 2687198
  (b) Wholesale Banking 830618 714512 744327 1545130 1609840 3186801
  (c) Retail Banking 652371 734459 843284 1386829 1484589 3037487
  (d)Other Banking  Operations 40292 66289 49636 106582 99748 197117
  Total Revenue 2185379 2168471 2330457 4353850 4536152 9108603
2 Segment Results            
  (a) Treasury Operations 166642 111356 128792 277998 267659 470697
  (b) Wholesale Banking 9562 (187302) (143833) (177740) (132834) (844080)
  (c) Retail Banking 235386 102027 259833 337413 370433 764243
  (d)Other Banking  Operations (10283) (98) (176) (10381) (1041) 11879
  Total 401307 25983 244616 427290 504217 402739
  Unallocated Expenditure  130258 133313 114627 263571 255733 527573
  Profit before Tax 271049 (107330) 129989 163719 248484 (124834)
  Provision for Tax 93928 (39459) 44648 54469 79747 (217609)
  Net Profit 177121 (67871) 85341 109250 168737 92775
3 Segment Assets            
  (a) Treasury Operations 42450370 39917335 33465226 42450370 33465226 41222922
  (b) Wholesale Banking 50918555 53118016 46275833 50918555 46275833 53213192
  (c) Retail Banking 22629997 22011432 29860349 22629997 29860349 23749084
  (d)Other Banking  Operations 718260 822345 437749 718260 437749 515784
  (e) Unallocated 2068682 1816181 1243960 2068682 1243960 1293231
  Total Assets 118785864 117685309 111283117 118785864 111283117 119994213
4 Segment Liabilities            
  (a) Treasury Operations 39677793 37346332 31204495 39677793 31204495 38608429
  (b) Wholesale Banking 47592892 49696781 43149687 47592892 43149687 49838235
  (c) Retail Banking 21151956 20593716 27843144 21151956 27843144 22242838
  (d)Other Banking  Operations 671348 769379 408177 671348 408177 483072
  (e) Unallocated 1933569 1699205 1159925 1933569 1159925 1211210
  Total Liabilities 111027558 110105413 103765428 111027558 103765428 112383784
5 Capital Employed            
  (a) Treasury Operations 2772577 2571003 2260731 2772577 2260731 2614493
  (b) Wholesale Banking 3325663 3421235 3126146 3325663 3126146 3374957
  (c) Retail Banking 1478041 1417716 2017205 1478041 2017205 1506246
  (d)Other Banking  Operations 46912 52966 29572 46912 29572 32712
  (e) Unallocated 135113 116976 84035 135113 84035 82021
  Total Capital Employed 7758306 7579896 7517689 7758306 7517689 7610429
Part- B : Geographic Segments
Sr. No.  Particulars Quarter Ended Half Year Ended Year Ended
30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Revenue            
  (a) Domestic  2024378 1982049 2123358 4006427 4115711 8273811
  (b) International 161001 186422 207099 347423 420441 834792
  Total 2185379 2168471 2330457 4353850 4536152 9108603
2 Assets            
  (a) Domestic  95643198 95907232 96953445 95643198 96953445 96981447
  (b) International 23142666 21778077 14329672 23142666 14329672 23012766
  Total 118785864 117685309 111283117 118785864 111283117 119994213

Liquidity Coverage Ratio (LCR) Disclosure - September 2020

Liquidity Coverage Ratio (LCR) Disclosure - September 2020 (Rs in crs)
Name of the Bank : Bank of Baroda Daily Averages of Q2 Ending September 2020
(Solo basis)
Daily Averages of Q2 Ending September  2020
(Consolidated basis)
Total Unweighted Value  Total Weighted Value  Total Unweighted Value  Total Weighted Value 
High Quality Liquid Assets 
1 Total High Quality Liquid Assets (HQLA)       227,626.17           232,559.21
Cash Outflows 
2 Retail deposit and deposits from small
business customers, of which:
591,848.36         54,750.04        612,895.62    56,514.69
(i) Stable Deposits   88,695.98 4,434.80         95,497.43     4,774.87
(ii) Less Stable Deposits 503,152.39         50,315.24        517,398.19    51,739.82
3 Unsecured wholesale funding, of which: 152,553.22         85,404.02        159,151.72    89,862.57
(i) Operational deposits (all counterparties)             -            -             -                -  
(ii) Non-operational deposits (all counterparties) 152,553.22         85,404.02        159,151.72    89,862.57
(iii) Unsecured debt             -            -             -                -  
4 Secured wholesale Funding  19,076.07       0.00         19,076.07           0.00
5 Additional requirements, of which 143,874.13         16,862.88        146,711.83    17,173.11
(i) Outflows related to derivative
exposures and other collateral requirements 
       16.48      16.48      16.48          16.48
(ii) Outflows related to loss of funding on debt products             -            -             -                -  
(iii) Credit and liquidity facilities  143,857.65         16,846.40        146,695.35    17,156.63
6 Other contractual funding obligations       819.84    819.84     956.67        956.67
7 Other contingent funding obligations  88,779.95 2,773.07         89,743.33     2,801.97
8 TOTAL CASH OUTFLOWS 996,951.59       160,609.86     1,028,535.25  167,309.02
Cash Inflows
9 Secured lending (e.g. reverse repos)  13,906.26       0.00         13,938.50          15.91
10 Inflows from fully performing exposures  11,665.61         10,339.58         13,632.18    11,978.47
11 Other cash inflows    1,883.82 1,083.01  2,072.79     1,194.33
12 TOTAL CASH INFLOWS  27,455.69         11,422.59         29,643.48    13,188.71
    Total Adjusted Value Total Adjusted Value
13 TOTAL HQLA -     227,626.17 -         232,559.21
14 TOTAL NET CASH OUTFLOWS      149,187.27         154,120.31
15 LIQUIDITY COVERAGE RATIO (%) 152.58% 150.89%
Note: The Liquidity Coverage Ratio mentioned above is the daily average of 70 working days for the quarter July - September  2020
Chief Manager Balasubramanyam Lanka
(ALM Cell- Global Mid Office)
Risk Management Department
Dy. General Manager
(Global Mid Office)
Risk Management Department

ALM CELL- Global Mid Office
RISK MGMT DEPT, MUMBAI
Date:11.11.2020

CFS NOTES SEBI

Notes to Accounts.
1. STATEMENT OF ASSETS & LIABILITIES. (Rs. in Lakhs)
Particulars Consolidated
Half Year ended  Half Year ended  Year ended 
30th Sept 2020 30th Sept 2019 31st March 2020
CAPITAL & LIABILITIES      
Capital 92537 77061 92537
Share Application Money Pending Allotment                                           -   700000                                        -  
Reserves and Surplus 7665769 6740628 7517892
Minority Interest 43,255 35395 38617
Deposits 98220608 92199919 97322815
Borrowings 7104718 7869876 9575270
Other Liabilities and Provisions  5658977 3660238 5447082
T O T A L 118785864 111283117 119994213
ASSETS      
Cash and Balances with Reserve Bank of India 4111961 4195846 3424478
Balances with Banks and Money at Call and Short Notice 10458070 7917020 9676029
Investments 28366007 27842782 28972672
Advances 68622133 65263755 70653973
Fixed Assets 872603 976435 904378
Other Assets  6332699 5064888 6340292
Goodwill on Consolidation 22391 22391 22391
T O T A L 118785864 111283117 119994213
Contingent Liabilities 38922051 43836309 38403643*
Bills for colletion 4688696 5885245 5200974
*inadvertently reported in financials as Rs.32517365 lacs in March, 2020.
2. STATEMENT OF CONSOLIDATED CASH FLOW  FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2020 (Rs. in Lakhs)
Particulars Half Year ended  Half Year ended  Year ended 
30th Sept 2020 30th Sept 2019 31st March 2020
A. Cash flow from operating activities:      
Net Profit before taxes 163719 248484 -124834
Adjustments for:       
Depreciation on fixed assets 65828 87199 169723
Depreciation on investments (including on Matured debentures) (3833) 24702 101742
Bad debts written-off/Provision in respect of non-performing assets 576687 664918 1669137
Provision for Standard Assets 252830 18836 312259
Provision for Other items (Net) 49845 45385 87238
Profit/(loss) on sale of fixed assets (Net) (86) (6) (357)
Payment/provision for interest on bonds 93513 53287 167443
Sub total 1198503 1142805 2382351
Adjustments for:      
(Increase)/Decrease in investments 614457 (270071) (1479593)
(Increase)/Decrease in advances 1455151 749337 (5736389)
(increase)/Decrease in other assets (151233) 55176 (756624)
Increase/(Decrease)in borrowings (2408741) (15053) 1260322
Increase/(Decrease) in deposits 897793 (2005878) 3117113
Increase/(Decrease) in other liabilities and provisions (47516) (65146) 1401088
Direct taxes paid (Net of Refund) 104358 13137 (26699)
Net cash from operating  activities (A) 1662772 (395693) 161569
       
B. Cash flow from investing activities:      
Purchase/ Transfer in of fixed assets (140083) (226559) (330335)
Sales/ Transfer out of fixed assets 106116 222949 316609
Cash paid to shareholders of erstwhile Vijaya Bank and Dena Bank towards fractional entitlements consequent to amalgamation                                           -   (174) (174)
Changes in trade related investments (3958) (12227) (9636)
Net cash used in investing activities (B) (37925) (16011) (23536)
C. Cash flow from financing activities:      
Share Capital / Share Application Money / Share Premium 0 707300 829340
Unsecured Subordinated Bonds (61810) 380950 810970
Payment/provision for interest on bonds (93513) (53287) (167443)
Net cash from  financing activities (C) (155323) 1034963 1472867
Cash & cash equivalents received on account of amalgamation (D)                                           -   1701123 1701123
Net increase in cash & cash equivalents (A)+(B)+(C)+(D)                               146,95,24                                232,43,82                           331,20,23
Cash and cash equivalents as at the beginning of the year 13100507 9788484 9788484
Cash and cash equivalents as at the end of the year 14570031 12112866 13100507
Cash & Cash equivalents includes Cash on hand, Balance with RBI & Other banks and Money at call and Short Notice.
  As on As on As on
Components of Cash & Cash Equivalents 30th Sept 2020 30th Sept 2019 31st March 2020
Cash & Balance with RBI 4111961 4195846 3424478
Balances with Banks and Money at Call and Short Notice 10458070 7917020 9676029
Total 14570031 12112866 13100507

Consolidate SEBI Notes Sept 2020

  • The above consolidated financial results of Bank of Baroda (hereinafter referred as “Bank”) including Subsidiaries (hereinafter referred as “Group”), Joint Ventures and Associates have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on October 29, 2020. The same has been subjected to limited review by Statutory Central Auditors of the Bank.
  • The Group has continued to follow the same accounting policies in preparation of financial statement for the quarter/half year ended September 30, 2020 as followed in the previous financial year ended March 31, 2020.
  • The figures for the quarter ended September 30, 2020 are the balancing figures between reviewed figures in respect of the half year end September 30, 2020 and the published year to date figures up to June 30, 2020.
  • In terms of Reserve Bank of India (RBI) guidelines Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
  • The above consolidated financial results are prepared in accordance with Accounting Standard 25 on “Interim Financial Reporting”, Accounting Standard 21 on “Accounting for Consolidated Financial Statements”, Accounting Standard 23 on Accounting for “Investment in Associates” and Accounting Standard 27 on “Financial Reporting of Interest in Joint Venture”.
  • The Consolidated Financial Results comprises the financial results of 7 Domestic Subsidiaries, 8 Overseas Subsidiaries, 4 Associates and 3 Joint Ventures as under :-
    A. Subsidiaries
    i The Nainital Bank Limited Domestic Banking
    ii BOB Financial Solutions Limited Domestic Non-Banking
    iii BOB Capital Markets Limited Domestic Non-Banking
    iv Baroda Global Shared Services Limited Domestic Non-Banking
    v Baroda Sun Technologies Limited Domestic Non-Banking
    vi Baroda Asset Management India Limited (Formerly known as Baroda Pioneer Asset Management Co. Limited) Domestic Non-Banking
    vii Baroda Trustee India Private Limited (Formerly known as Baroda Pioneer Trustee Company Private Limited) Domestic Non-Banking
    viii Bank of Baroda (Uganda) Limited (consolidated) Overseas Banking
    Baroda Capital Markets (Uganda) Limited (Subsidiary of Baroda (Uganda) Limited. Overseas Banking
    ix Bank of Baroda (Kenya) Limited Overseas Banking
    x Bank of Baroda (Botswana) Limited Overseas Banking
    xi Bank of Baroda (New Zealand) Limited Overseas Banking
    xii Bank of Baroda (Guyana) Inc. Overseas Banking
    xiii Bank of Baroda (UK) Limited Overseas Banking
    xiv Bank of Baroda (Tanzania) Limited Overseas Banking
    xv Bank of Baroda (Trinidad and Tobago) Ltd Overseas Banking
    B. Joint Ventures    
    i India Infradebt Limited Domestic  
    ii  India First Life Insurance Company Limited Domestic  
    iii India International Bank (Malaysia) Bhd Overseas  
    C.  Associates    
    i Baroda U.P. Bank, Gorakhpur Domestic  
    ii Baroda Rajasthan Kshetriya Gramin Bank Domestic  
    iii Baroda Gujarat Gramin Bank Domestic  
    iv Indo Zambia Bank Limited    Overseas  
  • The COVID-19 outbreak was declared a global pandemic by the World Health Organization on      March 11, 2020 and affected world economy as well as Indian economy. On account of continuous volatility in financial market, the Bank has considered internal and external sources of information including economic forecasts and industry reports up to the date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of advances & provision thereon, investment valuation, other assets and liabilities of the Bank. Given the uncertainty because of COVID-19 pandemic, the Bank is continuously monitoring any material change in future economic condition which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as at the date of approval of these financial results.

    RBI has announced measures under Regulatory Package for COVID-19 vide its circulars dated March 27, 2020, April 17, 2020, May 23, 2020 and August 6, 2020.  In accordance with RBI Guidelines, the Bank is required to make provision not less than 10% of the outstanding advances in respect of borrower account where asset classification benefit has been granted. However, the Bank had made provision @20% in March 31, 2020 while w.e.f. April 1, 2020 provision @10% is made wherever said benefit is extended to the borrowers.  Details of relief extended in terms of said circular are as follows:
    S.No Particulars Amount (In Rs lakh)
    1. Respective amounts in SMA/overdue categories, where the moratorium/deferment was extended as on  September 30, 2020 8593994
    2. Respective amount, where asset classification benefit is extended as on  September 30, 2020 1406388
    3. a) Provision made during the Q4 FY 2020 81275
    3. b) Provision made during the Q1 FY 2021
    (Reversal of Rs.6907 lakh done in Q1 FY2021 out of provision made during Q4 FY2020 on account of slippage
    106739
    4. Provision adjusted during the Half year ended September 30, 2020 against slippage/account closure/change in balance 12785
    5. Residual Provision held as on September 30, 2020 175229
  • 10. In its Interim Order dated September 3, 2020, the Hon’ble Supreme Court of India (SC), In a public interest litigation (Gajendra Sharma vs Union Of India & Anr), has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders. Based on the said interim order, the Bank has not classified any account as NPA, which was not NPA as of August 31, 2020.

    Pending disposal of the case in Hon’ble SC, the Bank as a matter of prudence has made a contingent provision of Rs.19520 Lakh in respect of such accounts that were not classified as NPA. Further, In respect of above accounts, interest income aggregating Rs. 9792 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been made as additional provision against those Assets. Total additional provision as on 30.09.2020 is Rs. 29312 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.33% and 2.67% respectively.
  • As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019, RBI circular No DOR. No BP. BC. 34/21.04.048/2019-20 dated 11.02.2020, RBI circular No DOR. No BP. BC/4/21.04.048/2020-21 dated 06.08.2020, 64698 MSME borrower accounts were restructured amounting to Rs.320523 Lakh as on September 30, 2020.
  • As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on September 30, 2020 is Rs.101378 lakh which is to be amortised in the subsequent quarters by the Bank.
  • Government of India has inserted section 115BAA in the Income Tax Act 1961 vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non-reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The parent Bank has assessed the applicability of the act and opted to continue the existing tax rate i.e.34.944% for the quarter/Half year ended September 30, 2020.
  • Pursuant to the proposed bipartite agreement on wage revision (due with effect from November 01, 2017), Group holds provision of sum of Rs.242100 lakh as of September 30, 2020. During the quarter, Group has made provision of Rs.20297 lakh on wage revision.
  • Bank of Baroda’s (BOB) wholly owned non –functional Subsidiary at UK Viz. BOB (UK) Ltd. has been dissolve at Company House, UK with effect from September 22, 2020.
  • Notes on Segment Reporting
    • As per the guidelines of the RBI on compliance with the Accounting Standards, the parent 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI).
    • Segment revenue represents revenue from external customers.
    • Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The figures of the previous period have been regrouped/rearranged, wherever necessary, to confirm to the current period classification.
Sanjiv Chadha Murali Ramaswami Shanti Lal Jain Vikramaditya Singh Khichi Subrat Kumar G Ramesh
Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer General Manager - Corporate Accounts
Financial Result Q1 2020-21

Standalone- SEBI

Head Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Reviewed Standalone Financial Results for the Quarter Ended 30th June 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended
30.06.2020 31.03.2020 30.06.2019 31.03.2020
      Reviewed Refer to Note No.3 Reviewed Audited
1   Interest earned (a)+(b)+(c)+(d) 1849416 1869844 1894333 7598365
(a) Interest /discount on advances / bills 1307950 1329182 1335014 5411577
(b) Income on investments 451467 446377 464594 1809736
(c) Interest on balances with Reserve Bank of India and other inter bank funds 47135 42860 50175 176873
(d) Others 42864 51425 44550 200179
2   Other Income 181828 283466 191757 1031733
3   Total Income (1 + 2) 2031244 2153310 2086090 8630098
4   Interest Expended 1167809 1190026 1244721 4853237
5   Operating Expenses (a)+ (b)+ (C) 431441 451203 413746 1807719
(a) Employees cost 224184 195445 193942 876952
(b) Rent Taxes & Lighting 31426 41015 33455 151752
(c) Other operating expenses 175831 214743 186349 779015
6   Total Expenditure (4+5) excluding provisions and contingencies 1599250 1641229 1658467 6660956
7   Operating Profit (3-6) before Provisions and Contingencies  431994 512081 427623 1969142
8   Provisions (other than tax) and Contingencies 562770 684407 328488 2149353
  of which provisions for NPA & Diminution value of all restructured a/cs 345754 319060 316836 1640490
9   Exceptional Items                       -                         -                         -                         -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) (130776) (172326) 99135 (180211)
11   Provision for Taxes (44350) (222985) 28148 (234829)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) (86426) 50659 70987 54618
13   Extraordinary items (net of tax expenses)                       -                         -                         -                         -  
14   Net Profit (+) / Loss (-) for the period  (12-13) (86426) 50659 70987 54618
15   Paid-up equity share capital                                                         
(Face Value of Rs 2 each)
92537 92537 77061 92537
16   Reserve excluding Revaluation Reserve  NA   NA   NA  6485133
17   Analytical Ratios        
i) Percentage of shares held by Government of India 71.60 71.60 69.23 71.60
ii) Capital Adequacy Ratio(%) -Basel-III 12.84 13.30 11.50 13.30
a CET 1 Ratio (%) 9.08 9.44 8.50 9.44
b Additional Tier 1 Ratio (%) 1.25 1.27 1.06 1.27
iii) Earnings Per Share         
  Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] (1.87) 1.26 2.04 1.36
  Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] (1.87) 1.26 2.04 1.36
iv) NPA Ratios        
(a) Gross NPA 6913201 6938143 6971395 6938143
  Net NPA 1944968 2157659 2503029 2157659
(b) % of Gross NPA 9.39 9.40 10.28 9.40
  % of Net NPA 2.83 3.13 3.95 3.13
v) Return on Assets (annualized) % (0.30) 0.18 0.49 0.06

Standalone Segment

Reviewed Standalone Segment reporting for the Quarter Ended 30th June 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended  
30.06.2020 31.03.2020 30.06.2019 31.03.2020
Reviewed Refer to Note No.3 Reviewed Audited
1 Segment Revenue        
(a) Treasury Operations 618981 653083 618425 2556563
(b) Wholesale Banking 695894 700036 845549 3110787
(c) Retail Banking 716369 800191 621916 2956092
(d)Other Banking  Operations                         -                                 -   200 6656
Total Revenue 2031244 2153310 2086090 8630098
2 Segment Results        
(a) Treasury Operations 98071 78713 129822 432778
(b) Wholesale Banking (195041) (333671) 2366 (863401)
(c) Retail Banking 98445 224639 106665 765577
(d)Other Banking  Operations                         -   (1) 200 6656
Total 1475 (30320) 239053 341610
Unallocated Expenditure  132251 142006 139918 521821
Profit before Tax (130776) (172326) 99135 (180211)
Provision for Tax (44350) (222985) 28148 (234829)
Net Profit (86426) 50659 70987 54618
3 Segment Assets        
(a) Treasury Operations 37715413 38969206 30954323 38969206
(b) Wholesale Banking 52254420 52378208 45452425 52378208
(c) Retail Banking 21451140 23154150 27741787 23154150
(d)Other Banking  Operations                         -                                 -                                 -                                 -  
(e) Unallocated 1804566 1289987 2042255 1289987
Total Assets 113225539 115791551 106190790 115791551
4 Segment Liabilities        
(a) Treasury Operations 35347055 36550913 29114910 36550913
(b) Wholesale Banking 48973078 49127798 42751485 49127798
(c) Retail Banking 20104105 21717283 26093274 21717283
(d)Other Banking  Operations                         -                                 -                                 -                                 -  
(e) Unallocated 1691247 1209936 1920897 1209936
Total Liabilities 106115485 108605930 99880566 108605930
5 Capital Employed        
(a) Treasury Operations 2368358 2418293 1839413 2418293
(b) Wholesale Banking 3281342 3250410 2700940 3250410
(c) Retail Banking 1347035 1436867 1648513 1436867
(d)Other Banking  Operations                         -                                 -                                 -                                 -  
(e) Unallocated 113319 80051 121358 80051
Total Capital Employed 7110054 7185621 6310224 7185621
Part- B : Geographic Segments
Sr. No.  Particulars Quarter Ended  
30.06.2020 31.03.2020 30.06.2019 31.03.2020
Reviewed Refer to Note No.3 Reviewed Audited
1 Revenue        
(a) Domestic  1893853 1997865 1916671 7982437
(b) International 137391 155445 169419 647661
Total 2031244 2153310 2086090 8630098
2 Assets        
(a) Domestic  94288769 95806927 94915365 95806927
(b) International 18936770 19984624 11275425 19984624
Total 113225539 115791551 106190790 115791551

Standalone SEBI Notes June 20

1. The above financial results have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on August 10, 2020. The same has been subjected to limited review by Statutory Central Auditors of the Bank.

2. The Bank has continued to follow the same accounting policies in preparation of financial results for the quarter ended June 30, 2020 as followed in the previous financial year ended March 31, 2020.

3. The comparative figures for quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the financial year 2019 -20 and the published year to date figures up to December 31, 2019.

4. Reserve Bank of India (RBI) Circular DBOD.NO.BP.BC.1/21.06.201/2015-16 dated July 01, 2015 on Basel III Capital Regulations read together with RBI circular no.DBR.NO.BP.BC.80/21.06.201/2014- 15 dated March 31, 2015 on Prudential Guidelines on Capital Adequacy and Liquidity Standards Amendments requires Banks to make applicable Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework. These details are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.

5. During the current quarter, the Bank has redeemed Basel II Upper Tier II Bond Series XIII and Basel II Upper Tier II Bond Series XIV of Rs.500,00 Lakh each by exercising call option.

6. As a consistent practice, the Bank has continued to make a provision of 20% on the Secured Sub- standard Advances as against the regulatory minimum requirement of 15%. In addition to the above, the Bank has also continued to maintain provision on non-fund based facilities of NPA borrowers, by applying 50% credit conversion factor (CCF), based on the asset class of the fund-based facility of the borrower. The Bank also continues to make 100% provision on certain classes of non- performing retail advances.

7. Other income of the Bank includes brokerage, commission, fees, income from foreign exchange fluctuation, profit / loss on sale of investments, recovery from written off accounts etc.

8. As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/20 17-18 dated June 23, 2017 and August 28, 2017 respectively, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the Bank is holding total provision of Rs.11016,57 lakh (100% of total outstanding) as on June 30, 2020 (Rs.10853,71 lakh i.e. 98.73% of total outstanding as on March 31, 2020).

9. The Bank has estimated the liability for Unhedged Foreign Currency in terms of RBI circular DBOD.No.BP.BC.85/21.06.200/2013-14 dated January 15, 2014 and is holding a provision of Rs.149,37 lakh as on June 30, 2020 (Rs.155,33 lakh as on March 31, 2020).

10. The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 21, 2020 and affected world economy as well as Indian economy. On account of continuous volatility in financial market, the Bank has considered internal and external sources of information including economic forecasts and industry reports up to the date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of

advances & provision thereon, investment valuation, other assets and liabilities of the Bank. Given the uncertainty because of COVID-19 pandemic, the Bank is continuously monitoring any material change in future economic condition which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as at the date of approval of these financial results.

As per the regulatory package dated March 27, 2020 the Bank has been permitted moratorium of three months on all term loan instalments falling due between March 1, 2020 and May 31, 2020. The Bank has deferred the recovery of interest on working capital facilities sanctioned in the form of cash credit / overdraft CC/OD accounts from March 1, 2020 to June 30, 2020. The moratorium period was further extended by till August 31, 2020 vide notification dated May 23, 2020.

RBI has announced measures under Regulatory Package for Covid 19 vide its circulars dated March 27, 2020, April 17, 2020 and May 23, 2020, to mitigate the burden of debt servicing brought about by disruptions on account of Covid 19 pandemic and to ensure the continuity of viable business. The measures, inter alia, including rescheduling of payments of term loan and working capital facilities, easing of working capital financing, classification as Special Mention Account (SMA) and Non- Performing assets (NPA) etc. In accordance with RBI Guidelines, the Bank is required to make provision not less than 10% of the outstanding advances in respect of borrower account where asset classification benefit has been granted. However, the Bank had made provision @20% in March 31, 2020 while w.e.f. April 1, 2020 provision @10% is made wherever said benefit is extended to the borrowers. Details of relief extended in terms of said circular are as follows:

 

S.No Particulars Amount (In Rs lakh)
a. Respective amount, where asset classification benefit is extended
as on June 30,2020
14359,76
b. Additional Provision made during the quarter 996,11
c. Total Provision held as on June 30, 2020 1806,76
d. Provision adjusted during the quarter against slippage and residual
provisions>
69,07

11. RBI vide their circular no. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets issued guidelines for implementation of Resolution Plan, also containing requirements of additional provisions as per para 17 of this RBI circular. The outstanding in such cases as on June 30, 2020 is Rs.10376,06 lakh and in compliance the above RBI circular, the Bank has made additional provision of Rs.1415,42 lakh during the quarter ended June 30, 2020 and holds total provision of Rs.3609,17 lakh as on June 30, 2020.

12. As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019 on ‘Restructuring of Advances - Micro, Small and Medium Enterprises (MSME) Sector’ (One Time Restructuring), 53518 MSME borrower accounts were restructured amounting to Rs.2368,99 Lakh as on June 30, 2020 ( 37261 MSME borrower accounts amounting to Rs.1734,00 lakh as on March 31, 2020).

13. As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for

frauds over a period of four quarters. Accordingly, the carry forward provision as on June 30, 2020 is Rs.1261,45 lakh (Rs.349,51 lakh as on March 31, 2020) which is to be amortised in the subsequent quarters by the Bank.

14. Pursuant to the proposed bipartite agreement on wage revision (due with effect from November 01, 2017), Bank held provision of Rs.1921,73 lakh as on March 31, 2020. An MOU has been entered between Indian Bank of Association and Bank’s Officers & workman Association on July 22, 2020 regarding revision of wage arrears. Pending conclusion of the said agreement, as a matter of prudence, Bank has made additional provision of Rs.278,27 lakh during quarter ended June 30, 2020 (Rs.198,80 lakh in quarter ended March 31, 2020). The Bank is holding aggregate provision of Rs.2200,00 lakh as on June 30, 2020 for wage revision.

15. Government of India has inserted section 115BAA in the Income Tax Act 1961 (“Act”) vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non- reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The Bank has assessed the applicability of the Act and opted to continue the existing tax rate (i.e. 34.944%) for the quarter ended June 30, 2020.

16. Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 83.30% as on June 30, 2020 (81.33% as on March 31, 2020).

17. The Bank has purchased PSLC (Priority Sector lending Certificates) of Rs.4000,00 lakh during the current quarter under the category Small and Marginal Farmer.

18. Number of Investors' complaints pending at the beginning of the quarter was NIL. The Bank has received 32 Investors' complaints during the quarter ended June 30, 2020. All complaints have been disposed of during the quarter. There are NIL pending Investors' complaints at the end of the quarter.

19. A penalty of Rs.22.46 lakhs has been imposed on the Bank by Reserve Bank of India for the quarter ended June 30, 2020.

20. Bank’s wholly owned subsidiary Bank of Baroda (Ghana) Ltd. has surrendered its Banking License to the Host Country Regulator at Ghana viz. Bank of Ghana and the Registrar of the Company, Ghana vide letter dated 11th June 2020, has informed that pursuant to Section 260 (1) of the Companies Act (Act 179), the name of Bank of Baroda (Ghana) Ltd. has been struck off from the register of companies and the said company is dissolved.

21. Bank of Baroda (BOB) has a locally incorporated Overseas Joint Venture (JV) with Indian Overseas Bank (IOB) and erstwhile Andhra Bank (AB) now Union Bank of India (UBI) in Malaysia viz. India International Bank (Malaysia) Berhad (IIBMB), in which BOB has 40% shareholding, while IOB and erstwhile AB now UBI have 35% and 25% shareholding respectively. In light of discussion on business performance and projections of IIBMB, the Board of the Bank has accorded approval either for sale of its entire stake (BOB 40%) or closure of operations of IIBMB in consultation with other JV partners.

22. Notes on Segment Reporting
a. As per the guidelines of the RBI on compliance with the 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI).
b. Segment revenue represents revenue from external customers.
c. Capital employed for each segment has been allocated proportionate to the assets of the respective segment.

23. The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classifications.

Sanjiv Chadha Murali Ramaswami Shanti Lal Jain Vikramaditya Singh Khichi Subrat Kumar G Ramesh
Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer General Manager Corporate Accounts & Taxation

Place: Mumbai
Date: August 10th, 2020

Consolidate SEBI

Head Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Reviewed Consolidated Financial Results for the Quarter Ended 30th June 2020
(Rs in lakhs)
Sr. No.   Particulars Quarter Ended
30.06.2020 31.03.2020 30.06.2019 31.03.2020
    Reviewed Refer to Note No.3 Reviewed Audited
1   Interest earned (a)+(b)+(c)+(d) 1952365 1910418 1972331 7889470
(a) Interest /discount on advances / bills 1343427 1364212 1369111 5549107
(b) Income on investments 510492 448929 499465 1923360
(c) Interest on balances with Reserve Bank of India and other inter bank funds 55179 53199 58351 216015
(d) Others 43267 44078 45404 200988
2   Other Income 216106 348566 233364 1219133
3   Total Income (1 + 2) 2168471 2258984 2205695 9108603
4   Interest Expended 1205534 1231875 1279578 5003989
5   Operating Expenses (a)+ (b)+ (C) 469514 507295 486788 2057628
(a) Employees cost 237179 210207 205570 927924
(b) Rent Taxes & Lighting 33227 42214 35402 158397
(c) Other operating expenses 199108 254874 245816 971307
6   Total Expenditure (4+5) excluding provisions and contingencies 1675048 1739170 1766366 7061617
7   Operating Profit (3-6) before Provisions and Contingencies  493423 519814 439329 2046986
8   Provisions (other than tax) and Contingencies 597909 693176 321617 2170377
  of which provisions for NPA & Diminution value of all restructured a/cs 347235 346897 317832 1680354
9   Exceptional Items                       -                         -                         -                         -  
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) (104486) (173362) 117712 (123391)
11   Provision for Taxes (39459) (221472) 35099 (217609)
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) (65027) 48110 82613 94218
13   Extraordinary items (net of tax expenses)                       -                         -                         -                         -  
14   Net Profit (+) / Loss (-) for the period  (12-13) (65027) 48110 82613 94218
  Less: Minority Interest 1834 486 1223 5296
  Add: Share of earnings in Associates (1010) (1682) 2006 3853
  Extraordinary items (net of tax expenses)                       -                         -                         -                         -  
  Net Profit (+) / Loss (-) for the period (67871) 45942 83396 92775
15   Paid-up equity share capital                                                          (Face Value of Rs 2 each) 92537 92537 77061 92537
16   Reserve excluding Revaluation Reserve  NA   NA   NA  6905961
17   Analytical Ratios        
i) Percentage of shares held by Government of India 71.60 71.60 69.23 71.60
ii) Capital Adequacy Ratio(%) -Basel-III 13.66 13.87 12.12 13.87
a CET 1 Ratio (%) 9.98 10.10 9.19 10.10
b Additional Tier 1 Ratio (%) 1.22 1.22 1.03 1.22
iii) Earnings Per Share         
  Basic EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] (1.47) 1.15 2.39 2.32
  Diluted EPS before and after Extraordinary items net of tax expenses  (not annualized) [ in Rs.] (1.47) 1.15 2.39 2.32
iv) NPA Ratios Not Applicable
(a) Gross NPA
  Net NPA
(b) % of Gross NPA
  % of Net NPA
v) Return on Assets (annualized) %

Consolidate Segment

Reviewed Consolidated Segment reporting for the Quarter Ended 30th June 2020
Part A-Business Segments (Rs in Lakhs)
Sr. No.  Particulars Quarter Ended  
30.06.2020 31.03.2020 30.06.2019 31.03.2020
Reviewed Refer to Note No.3 Reviewed Audited
1 Segment Revenue        
(a) Treasury Operations 653211 684509 648765 2687198
(b) Wholesale Banking 714512 718660 865513 3186801
(c) Retail Banking 734459 823200 641305 3037487
(d)Other Banking  Operations 66289 32615 50112 197117
Total Revenue 2168471 2258984 2205695 9108603
2 Segment Results        
(a) Treasury Operations 111356 86446 138867 470697
(b) Wholesale Banking (187302) (339900) 10999 (844080)
(c) Retail Banking 102027 219473 110600 764243
(d)Other Banking  Operations (98) 2201 (865) 11879
Total 25983 (31780) 259601 402739
Unallocated Expenditure  133313 143750 141106 527573
Profit before Tax (107330) (175530) 118495 (124834)
Provision for Tax (39459) (221472) 35099 (217609)
Net Profit (67871) 45942 83396 92775
3 Segment Assets        
(a) Treasury Operations 39917335 41222922 32996128 41222922
(b) Wholesale Banking 53118016 53213192 46317052 53213192
(c) Retail Banking 22011432 23749084 28334659 23749084
(d)Other Banking  Operations 822345 515784 435827 515784
(e) Unallocated 1816181 1293231 2045583 1293231
Total Assets 117685309 119994213 110129249 119994213
4 Segment Liabilities        
(a) Treasury Operations 37346332 38608429 30984349 38608429
(b) Wholesale Banking 49696781 49838235 43493094 49838235
(c) Retail Banking 20593716 22242838 26607091 22242838
(d)Other Banking  Operations 769379 483072 409254 483072
(e) Unallocated 1699205 1211210 1920864 1211210
Total Liabilities 110105413 112383784 103414652 112383784
5 Capital Employed        
(a) Treasury Operations 2571003 2614493 2011779 2614493
(b) Wholesale Banking 3421235 3374957 2823958 3374957
(c) Retail Banking 1417716 1506246 1727568 1506246
(d)Other Banking  Operations 52966 32712 26573 32712
(e) Unallocated 116976 82021 124719 82021
Total Capital Employed 7579896 7610429 6714597 7610429
Part- B : Geographic Segments
Sr. No.  Particulars Quarter Ended  
30.06.2020 31.03.2020 30.06.2019 31.03.2020
Reviewed Refer to Note No.3 Reviewed Audited
1 Revenue        
(a) Domestic  1982049 2054679 1992353 8273811
(b) International 186422 204305 213342 834792
Total 2168471 2258984 2205695 9108603
2 Assets        
(a) Domestic  95907232 96981447 96522720 96981447
(b) International 21778077 23012766 13606529 23012766
Total 117685309 119994213 110129249 119994213

Consolidate SEBI Notes

Notes forming part of the Reviewed Consolidated Financial Results for the Quarter Ended June 30, 2020

1. The above consolidated financial results of Bank of Baroda including Subsidiaries (hereinafter referred as “group”), joint Ventures and Associates have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on August 10, 2020. The same has been subjected to limited review by Statutory Central Auditors of the Bank.

2. The Bank has continued to follow the same accounting policies in preparation of financial statement for the quarter ended June 30, 2020 as followed in the previous financial year ended March 31, 2020.

3. The comparative figures for quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the financial year 2019 -20 and the published year to date figures up to December 31, 2019.

4. RBI Circular DBOD.NO.BP.BC.1/21.06.201/2015-16 dated July 01, 2015 on Basel III Capital Regulations read together with RBI circular no DBR.NO.BP.BC. 80/21.06.201/2014-15 dated March 31, 2015 on Prudential Guidelines on Capital Adequacy and Liquidity Standards Amendments requires Banks to make applicable Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework. These details are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to audit or review by the Statutory Central Auditors of the Bank.

5. The above consolidated financial results are prepared in accordance with Accounting Standard 25 on “Interim Financial Reporting”, Accounting Standard 21 on “Accounting for Consolidated Financial Statements”, Accounting Standard 23 on Accounting for “Investment in Associates” and Accounting Standard 27 on “Financial Reporting of Interest in Joint Venture” in Consolidated Financial Statements.

6. The Consolidated Financial Results comprises the financial results of 7 Domestic Subsidiaries, 10 Overseas Subsidiaries, 4 Associates and 3 Joint Ventures as under :-

A. Subsidiaries

 

 

i

The Nainital Bank Limited

Domestic

Banking

ii

BOB Financial Solutions Limited

Domestic

Non-Banking

iii

BOB Capital Markets Limited

Domestic

Non-Banking

iv

Baroda Global Shared Services Limited

Domestic

Non-Banking

v

BarodaSun Technologies Limited

Domestic

Non-Banking

vi

Baroda    Asset    Management     India     Limited (Formerly known as Baroda Pioneer Asset
Management Co. Limited)

Domestic

Non-Banking

vii

Baroda Trustee India Private Limited (Formerly
known as Baroda Pioneer Trustee Company Private Limited)

Domestic

Non-Banking

viii

 

Bank of Baroda (Uganda) Limited (consolidated)

Overseas

Banking

Baroda    Capital    Markets    (Uganda)     Limited
(Subsidiary of Baroda (Uganda) Limited.

Overseas

Banking

ix

Bank of Baroda (Kenya) Limited

Overseas

Banking

x

Bank of Baroda (Botswana) Limited

Overseas

Banking

xi

Bank of Baroda (New Zealand) Limited

Overseas

Banking

xii

Bank of Baroda (Guyana) Inc.

Overseas

Banking

xiii

Bank of Baroda (UK) Limited

Overseas

Banking

xiv

BOB (UK) Ltd (Non-Functional)

Overseas

Non-Banking

xv

Bank of Baroda (Tanzania) Limited

Overseas

Banking

xvi

BOB (Trinidad and Tobago) Ltd

Overseas

Banking

B. Joint Ventures

 

 

i

India Infradebt Limited

Domestic

 

ii

India First Life Insurance Company Limited

Domestic

 

iii

India International Bank (Malaysia) Bhd

Overseas

 

C. Associates

 

 

i

Baroda U.P. Bank, Gorakhpur

Domestic

 

ii

Baroda Rajasthan Kshetriya Gramin Bank

Domestic

 

iii

Baroda Gujarat Gramin Bank

Domestic

 

iv

Indo Zambia Bank Limited

Overseas

 

7. The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 21, 2020 and affected world economy as well as Indian economy. On account of continuous volatility in financial market, the Bank has considered internal and external sources of information including economic forecasts and industry reports up to the date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of advances & provision thereon, investment valuation, other assets and liabilities of the Bank. Given the uncertainty because of COVID-19 pandemic, the Bank is continuously monitoring any material change in future economic condition which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as at the date of approval of these financial results.

As per the regulatory package dated March 27, 2020 the Bank has been permitted moratorium of three months on all term loan instalments falling due between March 1, 2020 and May 31, 2020. The Bank has deferred the recovery of interest on working capital facilities sanctioned in the form of cash credit / overdraft CC/OD accounts from March 1, 2020 to June 30, 2020. The moratorium period was further extended by till August 31, 2020 vide notification dated May 23, 2020.

RBI has announced measures under Regulatory Package for Covid 19 vide its circulars dated March 27, 2020, April 17, 2020 and May 23, 2020, to mitigate the burden of debt servicing brought about by disruptions on account of Covid 19 pandemic and to ensure the continuity of viable business. The measures, inter alia, including rescheduling of payments of term loan and working capital facilities, easing of working capital financing, classification as Special Mention Account (SMA) and Non- Performing assets (NPA) etc. In accordance with RBI Guidelines, the Bank is required to make provision not less than 10% of the outstanding advances in respect of borrower account where asset classification benefit has been granted. However, the Bank had made provision @20% in March 31, 2020 while w.e.f. April 1, 2020 provision @10% is made wherever said benefit is extended to the borrowers.

Details of relief extended in terms of said circular are as follows:

S.No

Particulars

Amount (In Rs lakh)

a

Respective amount, where asset classification benefit is extended as on June 30,2020

14402,74

b.

Additional Provision made during the quarter

998,31

c.

Total Provision held as on June 30, 2020

1811,06

d.

Provision adjusted during the quarter against slippage and residual provisions

69,07

8. As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019 on ‘Restructuring of Advances - Micro, Small and Medium Enterprises (MSME) Sector’ (One Time Restructuring), 53518 MSME borrower accounts were restructured amounting to Rs.2368,99 Lakh as on June 30, 2020 ( 37261 MSME borrower accounts amounting to Rs.1734,00 lakh as on March 31, 2020).

9. As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on June 30, 2020 is Rs.1261,45 lakh (Rs.349,51 Lakh as on March 31, 2020) which is to be amortised in the subsequent quarters by the Bank

.

10. Government of India has inserted section 115BAA in the Income Tax Act 1961 vide the Taxation Laws (Amendment) Ordinance 2019 dated September 20, 2019, which provides a non-reversible option to domestic companies to pay corporate tax at reduced rate effective from April 01, 2019 subject to certain conditions. The parent Bank has assessed the applicability of the act and opted to continue the existing tax rate i.e.34.944% for the quarter ended June 30, 2020.

11. The Bank’s wholly owned subsidiary Bank of Baroda (Ghana) Ltd. has surrendered its Banking License to the Host Country Regulator at Ghana viz. Bank of Ghana and the Registrar of the Company, Ghana vide letter dated 11th June 2020, has informed that pursuant to Section 260 (1) of the Companies Act (Act 179), the name of Bank of Baroda (Ghana) Ltd. has been struck off from the register of companies and the said company is dissolved.

12. Bank of Baroda (BOB) has a locally incorporated Overseas Joint Venture (JV) with Indian Overseas Bank (IOB) and erstwhile Andhra Bank (AB) now Union Bank of India (UBI) in Malaysia viz. India International Bank (Malaysia) Berhad (IIBMB), in which BOB has 40% shareholding, while IOB and erstwhile AB now UBI have 35% and 25% shareholding respectively. In light of discussion on business performance and projections of IIBMB, the Board of the Bank has accorded approval either for sale of its entire stake (BOB 40%) or closure of operations of IIBMB in consultation with other JV partners.

13. Ministry of Finance vide Gazette notification no. 3837 dated 26th Nov. 2019 amalgamated Baroda Uttar Pradesh Gramin Bank, Kashi Gomti Samyut Gramin Bank and Purvanchal Bank (Transferor RRB) into a single Regional Rural Bank i.e. Baroda U.P. Bank (Transferee RRB) which shall come into effect on and from the first day of April, 2020. Accordingly the Bank has made additional investment of Rs.2916 Lakh for acquisition of stake of merged Bank i.e. Baroda UP Bank. As on June 30, 2020 the additional shares are yet to be allotted.

14. Notes on Segment Reporting
a. As per the guidelines of the RBI on compliance with the Accounting Standards, the parent 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 Accounting Standard 17 on Segment Reporting issued by Institute of Chartered Accountants of India (ICAI). b. Segment revenue represents revenue from external customers.
c. Capital employed for each segment has been allocated proportionate to the assets of the respective segment.

15. The figures of the previous period have been regrouped/rearranged, wherever necessary, to confirm to the current period classification.

Sanjiv Chadha Murali Ramaswami Shanti Lal Jain Vikramaditya Singh Khichi Subrat Kumar G Ramesh
Managing Director & CEO Executive Director Executive Director Executive Director Chief Financial Officer General Manager Corporate Accounts & Taxation

Place: Mumbai
Date: August 10th, 2020

LCR-Disclosure-Q1 FY 2020-21 click here

Statement of Assets & Liabilities is as under

( Rs in lakhs)
  Standalone Consolidated
As on 30th June 2020 As on 30th June 2019 As on 30th June 2020 As on 30th June 2019
Reviewed Reviewed Reviewed Reviewed
CAPITAL & LIABILITIES        
Capital 92537 77061 92537 77061
Reserves and Surplus 7017517 6233163 7487359 6637536
Minority Interest  NA  NA 41053 33736
Deposits 93446125 89554197 96246735 92291952
Borrowings 7682744 7057066 8092388 7251063
Other Liabilities and Provisions  4986616 3269303 5725237 3837901
TOTAL 113225539 106190790 117685309 110129249
ASSETS        
Cash and Balances with Reserve Bank of India 4017649 3761743 4174710 3906482
Balances with Banks and Money at Call and Short Notice 6632814 7528206 7439085 8316015
Investments 27086515 25505423 28819831 26873667
Advances 68667176 63318086 70298491 64840376
Fixed Assets 869393 988575 886648 1003448
Other Assets  5951992 5088757 6044153 5166870
Goodwill on Consolidation NA NA 22391 22391
TOTAL 113225539 106190790 117685309 110129249

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