तृतीय तिमाही 2021-22 वित्‍तीय रिपोर्ट

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Dec 21
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Financial Results Dec 21


NSFR Disclosure at 31st December 2021

The RBI guidelines stipulated the implementation of NSFR effective from 1st October 2021 at a consolidated level with disclosure from quarter ended December 2021. Accordingly, the bank is computing the Consolidated NSFR. The NSFR is defined as the amount of Available Stable Funding relative to the amount of Required Stable Funding


NSFR= (Available Stable Funding (ASF)) / (Required Stable Funding (RSF))


Available stable funding (ASF) is measured based on the broad characteristics of relative stability of funding sources, including contractual maturity of its liabilities and the differences in the tendency of different types of funding providers to withdraw their funding. Required Stable Funding (RSF) is a function of the liquidity characteristics and residual maturities of the various assets held by the bank including Off-Balance Sheet (OBS) exposures.

The table attached herewith sets out the un-weighted and weighted value of the NSFR components as on 31st December 2021 based on audited financials.

At a consolidated level, the NSFR of the bank comes out to 124.54% as on 31st December 2021 against the requirement of 100% as per RBI guidelines.

( Rs.in Crore) Un-weighted value by residual maturity Weighted value
No maturity < 6 months 6 months to < 1yr ≥ 1yr
  ASF Item          
1 Capital: (2+3) 88,936.43 2,509.33 1,900.01 19,386.19 1,12,731.95
2 Regulatory capital 84,753.43 2,509.33 1,900.01 19,386.19 1,08,548.95
3 Other capital instruments 4,183.00 0.00 0.00 0.00 4,183.00
4 Retail deposits and deposits from small business customers: (5+6) 3,22,268.45 1,00,632.81 2,78,720.51 0.00 6,35,336.29
5 Stable deposits 35,612.79 10,759.70 31,161.35 0.00 73,657.15
6 Less stable deposits 2,86,655.66 89,873.12 2,47,559.15 0.00 5,61,679.14
7 Wholesale funding: (8+9) 97,167.49 61,071.96 53,307.24 41,120.35 1,46,893.69
8 Operational deposits 0.00 0.00 0.00 0.00 0.00
9 Other wholesale funding 97,167.49 61,071.96 53,307.24 41,120.35 1,46,893.69
10 Other liabilities: (11+12) 0.00 1,25,745.41 0.00 54,283.08 0.00
11 NSFR derivative liabilities   0.00 0.00 0.00  
12 All other liabilities and equity not included in the above categories 0.00 1,25,745.41 0.00 54,283.08 0.00
13 Total ASF (1+4+7+10)   8,94,961.93

Standalone- SEBI

Un-Audited (Reviewed) Standalone Financial Results for the Quarter / Nine Months Ended 31st December 2021
  ( ₹ in lakhs)
Sr. No.   Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
      Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1   Interest earned (a)+(b)+(c)+(d) 1796300 1669153 1749671 5170717 5381054 7049506
 (a)Interest /discount on advances / bills1263137 1164379 1248405 3644334 3830362 5005212
 (b)Income on investments456709 421245 417222 1285062 1294364 1707712
 (c)Interest on balances with Reserve Bank of India and other inter bank funds26118 29415 41794 76279 122349 145092
 (d)Others50336 54114 42250 165042 133979 191490
2 Other Income251926 357921 291074 896166 811655 1293397
3 Total Income (1 + 2)204822620270742040745606688361927098342903
4 Interest Expended941097 912556 1001999 2769750 3210814 4168604
5 Operating Expenses (a)+ (b)558796 547562 530360 1621762 1485425 2054366
 (a)Employees cost310271 311430 305023 927647 832062 1144553
 (b)Other operating expenses248525 236132 225337 694115 653363 909813
6 Total Expenditure (4+5) excluding provisions and contingencies149989314601181532359439151246962396222970
7 Operating Profit (3-6) before Provisions and Contingencies 548333566956508386167537114964702119933
8 Provisions (other than tax) and Contingencies250704 275359 344990 926603 1208827 1564333
9 Exceptional Items - - - - - -
10 Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9)297629 291597 163396 748768 287643 555600
11 Provision for Taxes77926 82812 57285 199417 100098 472705
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)219703 208785 106111 549351 187545 82895
13 Extraordinary items (net of tax expenses) - - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13)219703 208785 106111 549351 187545 82895
15 Paid-up equity share capital (Face Value of ₹ 2 each)103553 103553 92537 103553 92537 103553
16 Reserve excluding Revaluation Reserve     7083310
17 Analytical Ratios      
 i)Percentage of shares held by Government of India63.97 63.97 71.60 63.97 71.60 63.97
 ii)Capital Adequacy Ratio(%) -Basel-III15.47 15.55 12.93 15.47 12.93 14.99
  a) CET 1 Ratio (%)11.30 11.39 8.98 11.30 8.98 10.94
  b) Additional Tier 1 Ratio (%)1.94 1.82 1.59 1.94 1.59 1.73
 iii)Earnings Per Share       
 (a)Basic EPS before and after Extraordinary items net of tax expenses
(not annualized) [in ₹]
4.25 4.04 2.30 10.62 4.06 1.78
 (b)"Diluted EPS before and after Extraordinary items net of tax expenses
(not annualized) [in ₹]"
4.25 4.04 2.30 10.62 4.06 1.78
 iv)NPA Ratios      
  a) Gross NPA5599677 5950382 6318155 5599677 6318155 6667099
  b) Net NPA1646493 1960165 1666771 1646493 1666771 2179988
  c) Gross NPA to Gross Advances %7.25 8.11 8.48 7.25 8.48 8.87
  d) Net NPA to NPA Advances %2.25 2.83 2.39 2.25 2.39 3.09
 v)Return on Assets (annualized) %0.74 0.73 0.37 0.62 0.21 0.07
 vi)Debt Equity ratio*0.52 0.55 0.74 0.52 0.74 0.54
 vii)Total Debt to Total Assets Ratio**0.08 0.08 0.08 0.08 0.08 0.06
 viii)Capital Redemption Reserve/ Debenture Redemption ReserveNANANANANANA
 ix)Outstanding Redeemable Preference SharesNANANANANANA
 x)Net Worth6116051 5956458 4653584 6116051 4653584 5519081
 xi)Operating Profit Margin %49.5350.8748.9450.8150.1950.79
 xii)Net Profit Margin %19.8418.7310.2216.666.291.99

* Debt represents borrowings with residual maturity of more than one year. ** Total Debt represents total borrowings of the Bank.


Standalone Segment

Un-Audited (Reviewed) Standalone Segment reporting for the Quarter/ Nine Months Ended 31st December 2021
Part A-Business Segments   ( ₹ in Lakhs)
Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1 Segment Revenue            
 (a) Treasury Operations605081 642525 620312 1876307 1924697 2533328
 (b) Wholesale Banking682653 672152 642967 2006777 2141835 2875350
 (c) Retail Banking752785 688624 772809 2148930 2111058 2895874
 (d) Other Banking Operations7707 23773 4657 34869 15119 38351
 Total Revenue2048226 2027074 2040745 6066883 6192709 8342903
2Segment Results      
 (a) Treasury Operations49939 155397 138418 361934 382264 476289
 (b) Wholesale Banking107189 96131 (181647)180163 (374752)(400767)
 (c) Retail Banking273985 178098 362798 597904 686673 999585
 (d) Other Banking Operations7707 23773 4657 34869 15119 38351
 Total 438820 453399 324226 1174870 709304 1113458
 Unallocated Expenditure 141191 161802 160830 426102 421661 557858
 Profit before Tax297629 291597 163396 748768 287643 555600
 Provision for Tax77926 82812 57285 199417 100098 472705
 Net Profit219703 208785 106111 549351 187545 82895
3Segment Assets      
 (a) Treasury Operations41975135 43839223 41158677 41975135 41158677 39644149
 (b) Wholesale Banking51728315 48811780 51839261 51728315 51839261 51181306
 (c) Retail Banking24057634 22967656 22069990 24057634 22069990 22969158
 (d) Other Banking Operations - - - - - -
 (e) Unallocated1944286 2047738 2271703 1944286 2271703 1741864
 Total Assets119705370 117666397 117339631 119705370 117339631 115536477
4Segment Liabilities      
 (a) Treasury Operations39072708 40837660 38567658 39072708 38567658 37000471
 (b) Wholesale Banking48151491 45469758 48575878 48151491 48575878 47768271
 (c) Retail Banking22394137 21395117 20680641 22394137 20680641 21437455
 (d) Other Banking Operations - - - - - -
 (e) Unallocated1809846 1907535 2128695 1809846 2128695 1625708
 Total Liabilities111428182 109610070 109952872 111428182 109952872 107831905
5Capital Employed      
 (a) Treasury Operations2902427 3001563 2591019 2902427 2591019 2643678
 (b) Wholesale Banking3576824 3342022 3263383 3576824 3263383 3413035
 (c) Retail Banking1663497 1572539 1389349 1663497 1389349 1531703
 (d) Other Banking Operations - - - - - -
 (e) Unallocated134440 140203 143008 134440 143008 116156
 Total Capital Employed8277188 8056327 7386759 8277188 7386759 7704572

Un-Audited (Reviewed) Standalone Segment reporting for the Quarter/ Nine Months Ended 31st December 2021
Part- B : Geographic Segments  
Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1 Revenue           
 (a) Domestic 1957686 1942455 1949204 5816552 5835413 7879289
 (b) International90540 84619 91541 250331 357296 463614
 Total20482262027074 2040745 6066883 6192709 8342903
2Assets      
 (a) Domestic 104024313 99550545 97511284 104024313 97511284 97037709
 (b) International15681057 18115852 19828347 15681057 19828347 18498768
 Total119705370117666397 117339631 119705370 117339631 115536477

STATEMENT OF ASSETS & LIABILITIES
  ( ₹. in Lakhs)
Particulars Standalone
As on
31st December 2021
As on
31st December 2020
As on
31st March. 2021
Un-Audited Un-Audited Audited
CAPITAL & LIABILITIES   
Capital10355392537103553
Reserves and Surplus817363572942217601019
Deposits978034289545608196699693
Borrowings908122791463236684793
Other Liabilities and Provisions 454352753504694447419
T O T A L119705370117339631115536477
ASSETS    
Cash and Balances with Reserve Bank of India458856631152783884104
Balances with Banks and Money at Call and Short Notice5210139100818418157178
Investments306897412671082126122027
Advances732163776986516170630051
Fixed Assets748706835552801624
Other Assets 525184167309785941493
T O T A L119705370117339631115536477

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 February 5, 2022. The same has been subjected to limited review by Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per SEBI (Listing Obligations & Disclosure Requirements) Regulation 2015, as amended thereafter.
  • The above standalone financial results for the quarter/Nine Months ended December 31, 2021 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, 2021 as followed in the previous financial year ended March 31, 2021.
  • The above financial results have been arrived at after considering necessary provision for NPAs, Standard Assets, Restructured Assets and Investment Depreciation/Provision, Provisions for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis 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, liquidity coverage ratio and Net stable funding ratio (NSFR) under the Basel- III framework are being made available on our website https://www.bankofbaroda.in/shareholders-corner/disclosures-under-basel-iii . These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
  • During the quarter ended 31.12.2021, the Bank has exercised the call option and redeemed Basel III AT1 bonds - SERIES VI amounting to ₹ 100000 lakhs. The Bank has also issued Basel III AT1 bonds Series XVII of ₹ 199700 lakhs.
  • As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/2017-18 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 ₹ 768180 lakhs being 100% of total outstanding as on December 31, 2021.
  • Based on the available financial statements and the declarations from borrowers, 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 ₹19057 lakhs as on December 31, 2021.
  • The spread of COVID-19 has led to a regional lockdown and in turn led to significant volatility in Global and Indian financial markets and the resultant decrease in global and local economic activities during the first and second wave of COVID-19 pandemic. Further, the extent to which the COVID pandemic and its future waves if any may impact the Bank’s operation and asset quality are uncertain.
    The bank is however keeping a close watch on developments on an ongoing basis and taking proactive measures continuously to maintain and improve asset quality. The bank, therefore, believes that there may not be any significant impact on Bank’s future financial results.
  • The Honourable Supreme Court of India vide an interim order dated 03.09.2020 had directed that accounts which were not declared NPA till 31.08.2020 shall not be declared as NPA till further orders, which was complied with by the Bank. The said interim order was vacated on 23.03.2021 and the Bank adhered to the asset classification of borrower accounts as per the extant regulatory lRAC norms. In view of this, the results for the nine months ended December 2021 may not be comparable with the corresponding nine months of FY 2020-21.
  • The Bank is holding additional provision of Rs.55893 lakhs over and above the provision as per IRAC norms in certain stressed standard advances on prudent basis.
  • Bank has estimated the additional liability on account of revision in family pension for employees as per IBA Joint Note dated November 11, 2020, amounting to ₹ 145441 lakhs. However, RBI vide their Circular RBI/2021-22/105 DOR.ACC.REC.57/21.04.018/2021-22 dated 4th October 2021, has permitted Banks to amortize the said additional liability over a period of not exceeding 5 (five) years, beginning with financial year ending 31st March 2022, subject to a minimum of 1/5th of the total amount being expensed every year. Bank has opted the said provision of RBI, charged an amount of ₹ 7272 lakhs & 21816 lakhs to the Profit & Loss account for the quarter and Nine months ended 31st December 2021 respectively and the balance unamortized expense of ₹123625 lakhs has been carried forward. Had the Bank charged the entire additional liability to the Profit and Loss Account, the net profit for the quarter and Nine months ended December 31, 2021 would have been lower by ₹ 92509 lakhs.
  • As per Directions of RBI vide letter no 10655/21.04.048/2018-19 dated 21.06.2019 disclosure with respect to accounts kept as standard due to the Court order, there is one account which is classified as standard as per court orders, with outstanding of ₹ 4658.47 lakhs as of December 31, 2021 against which the Bank is holding provision of ₹ 1122 lakhs as of December 31, 2021 as per IRAC norms, including provision for unrealized interest.
  • In accordance with RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated 01.01.2019, 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 on 'Restructuring of Advances - Micro, Small and Medium Enterprises (MSME) Sector' (One Time Restructuring), the details of MSME restructured borrowers as on 31.12.2021 is as under:
  • (In ₹ Lakhs)
    No of Accounts Amount as on 31.12.2021
    101120 755141
  • In accordance with RBI circular No DOR.STR.REC.12/21.04.048/2021-22 dated 05.05.2021 & RBI circular No DOR.STR.REC.21/21.04.048/2021-22 dated 04.06.2021 on Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs), the details of accounts restructured is as under.
  • (In ₹ Lakhs)
    No of Accounts Funded O/s as on 31.12.2021 Provision Held
    24198 176660 20329
  • In accordance with the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals1 and Small Business2”, the number of borrower accounts where modification were sanctioned and implemented and the aggregate exposure to such borrowers are as under:
  • (In ₹ Lakhs)
    No of Accounts Aggregate exposure as on 31.12.2021
    6426 62439

    (1. Individual covers only Personal Loan segment as per RBI circular No DOR. No. BP.BC/3/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(a) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.
    2. Small Business (including retail trade and wholesale trade) extended to individual which were covered under MSME as per RBI circular No DOR. No. BP.BC/4/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(b) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.)

  • As per RBI 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, guidelines for implementation of Resolution Plan has been issued, also containing requirements of additional provisions as per para 17 of this RBI circular. The Bank is holding additional provision of ₹ 401592 lakhs as on 31.12.2021 in 27 nos. of accounts as detailed below.
  • (In ₹ Lakhs)
    Amount of Loans impacted by RBI Circular
    (A)
    Amount of Loans to be classified as NPA
    (B)
    Amount of Loans as on 31.12.2021 out of (B) classified as NPA
    (C)
    Provision held as on 30.09.2021
    (D)
    Additional provision/ (reversal) made during quarter ended 31.12.2021
    (E)
    Provision held as on 31.12.2021
    (F)
    1391819 965122 965122 511868 (110276) 401592
  • As per the 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, 2021 is ₹ 17478 lakhs which is to be amortised in the subsequent quarters by the Bank.
  • Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 85.95 % as on December 31, 2021.
  • Number of Investors' complaints pending at the beginning of the quarter was NIL. The Bank has received 103 Investors' complaints during the quarter ended December 31, 2021. All complaints have been disposed of during the quarter. There are NIL pending Investors' complaints at the end of the quarter.
  • Penalties of ₹ 112.05 lakhs and ₹ 406.37 lakhs have been imposed on the Bank by Reserve Bank of India for the quarter and Nine months ended December 31, 2021 respectively.
  • Details of Priority Sector Lending Certificate (PSLC) purchased and sold are as under:
  • Particulars Amount In (₹ Lakhs)
    PSLC Purchased
    During Q3 (From 01.10.2021 to 31.12.2021) Nil
    Cumulative till Q3 (From 01.04.2021 to 31.12.2021) 350000
    PSLC Sold
    During Q3 (From 01.10.2021 to 31.12.2021) Nil
    Cumulative till Q3 (From 01.04.2021 to 31.12.2021) 100000
  • Disclosure as per the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals and Small Business”, as on 31.12.2021 is as under:-
  • Sl. No Description Individual Borrowers Small Business
    Personal Loans Business Loans
    (A)Number of requests received for invoking resolution process under Part A33280 -10944
    (B)Number of accounts where resolution plan has been implemented under this window33280 -10944
    (C)Exposure to accounts mentioned at (B) before implementation of the plan417102 -53735
    (D)Of (C), aggregate amount of debt that was converted into other securities - - -
    (E)Additional funding sanctioned, if any, including between invocation of the plan and implementation - - -
    (F)Total provisions on account of the implementation of the resolution plan55332 -6589
  • Disclosure as per the RBI Master directions ref no RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 “Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021” dated 24.09.2021 is as under:
    1. Details of stressed loans transferred is as under:
    2. (Rs. In lakhs)
      Details of stressed loans (NPA Accounts) transferred during the period of 01.04.2021 to 31.12.2021
      To ARCsTo permitted transfereesTo other transferees
      No: of accounts174-
      Aggregate principal outstanding of loans transferred921253940-
      Weighted average residual tenor of the loans transferred---
      Net book value of loans transferred (at the time of transfer)23133158-
      Aggregate consideration37374904-
      Additional consideration realized in respect of accounts transferred in earlier years---
      Quantum of excess provision reversed to the profit & loss account on account of sale of stressed loans14241746
    3. Details of stressed Loan Acquired during FY 2021-22 – Nil
    4. Details of Loans (Not in Default) transferred or acquired during FY 2021-22 – Nil
    5. The Distribution of the SRs held across the various categories of Recovery Ratings assigned to such SRs by the credit Rating Agencies as on 31.12.2021
    6. Recovery Rating BandBook Value (Rs. In Lakhs)
      RR1+118
      RR16116
      RR217635
      RR3649
      RR44220
      RR518709
      NR34710
      NR51640
      NR632557
      Rating withdrawn37726
      Grand Total124080
  • Other income of the Bank includes recoveries made in written off accounts, fee income on non-fund based banking activities, earnings from foreign exchange transactions, profit and loss on revaluation of investments, profit and loss on sale of investments and dividends from subsidiaries etc.
  • Notes on Segment Reporting
    1. 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).
    2. Segment revenue represents revenue from external customers.
    3. Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The comparative figures for quarter ended December 31, 2021 are the balancing figures between reviewed figures in respect of the Nine months ended December 31, 2021 and the published year to date figures up to September 30, 2021.
  • The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classifications.

CFS - SEBI FORMAT

Un-Audited (Reviewed) Consolidated Financial Results for the Quarter / Nine Months Ended 31st December 2021
  ( ₹ in lakhs)
Sr. No.   Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
      Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1 Interest earned (a)+(b)+(c)+(d)1872162 1754089 1864270 5428829 5690568 7431398
 (a)Interest /discount on advances / bills1300571 1196243 1282872 3752579 3934582 5142722
 (b)Income on investments492330 471637 489890 1426082 1476545 1927538
 (c)Interest on balances with Reserve Bank of India and other inter bank funds29282 32271 49139 85867 144318 169330
 (d)Others49979 53938 42369 164301 135123 191808
2 Other Income335137 445787 317306 1102144 893391 1525365
3   Total Income (1 + 2) 2207299 2199876 2181576 6530973 6583959 8956763
4 Interest Expended980012 950539 1040655 2885976 3325881 4320118
5 Operating Expenses (a)+ (b)629238 666089 550367 1864908 1622416 2311747
 (a)Employees cost325262 327871 318606 973648 871330 1199338
 (b)Other operating expenses303976 338218 231761 891260 751086 1112409
6   Total Expenditure (4+5) excluding provisions and contingencies 1609250 1616628 1591022 4750884 4948297 6631865
7   Operating Profit (3-6) before Provisions and Contingencies 598049 583248 590554 1780089 1635662 2324898
8 Provisions (other than tax) and Contingencies268820 273734 411412 980264 1287648 1687581
9 Exceptional Items - - - - - -
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 329229 309514 179142 799825 348014 637317
11 Provision for Taxes84445 90009 63225 218616 117694 491927
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 244784 219505 115917 581209 230320 145390
13 Less: Minority Interest2441 1743 1896 6225 5201 7263
14 Add: Share of earnings in Associates4032 (977)5575 6830 3727 16640
15 Extraordinary items (net of tax expenses) - - - - - -
16   Net Profit (+) / Loss (-) for the period (12-13+14+15) 246375 216785 119596 581814 228846 154767
17   "Paid-up equity share capital
(Face Value of ₹ 2 each)"
103553 103553 92537 103553 92537 103553
18 Reserve excluding Revaluation Reserve     7614757
19  Analytical Ratios      
 i)Percentage of shares held by Government of India63.97 63.97 71.60 63.97 71.60 63.97
 ii)Capital Adequacy Ratio(%) -Basel-III15.97 16.06 13.60 15.97 13.60 15.74
 (a) CET 1 Ratio (%)11.91 12.02 9.76 11.91 9.76 11.80
 (b)Additional Tier 1 Ratio (%)1.88 1.75 1.53 1.88 1.53 1.67
 iii)Earnings Per Share       
 (a)Basic EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹]4.76 4.19 2.59 11.25 4.95 3.32
 (b)Diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹]4.76 4.19 2.59 11.25 4.95 3.32
 iv)NPA Ratios     
Gross NPA Not Applicable
Net NPA
Gross NPA to Gross Advances %
Net NPA to NPA Advances %
v)Return on Assets (annualized) %0.800.720.400.630.250.13
 vi)Debt Equity ratio*0.550.580.760.550.760.56
 vii)Total Debt to Total Assets Ratio**0.080.080.080.080.080.06
 viii)Capital Redemption Reserve/ Debenture Redemption ReserveNANANANANANA
 ix)Outstanding Redeemable Preference SharesNANANANANANA
 x)Net Worth661255364149535100097661255351000975989288
 xi)Operating Profit Margin %48.7346.6851.7648.8450.2050.14
 xii)Net Profit Margin %20.0717.3510.4815.967.023.34

* Debt represents borrowings with residual maturity of more than one year. ** Total Debt represents consolidated borrowings of the Group.


CFS- SEGMENT

Un-Audited (Reviewed) Consolidated Segment reporting for the Quarter / Nine Months Ended 31st December 2021
Part A-Business Segments   ( ₹ in Lakhs)
Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1Segment Revenue      
 (a) Treasury Operations642341 678215 638027 1981707 2011661 2674360
 (b) Wholesale Banking698133 691945 662601 2058899 2196963 2943155
 (c) Retail Banking780876 710304 801458 2220861 2180416 2982302
 (d)Other Banking Operations85949 119412 79490 269506 194919 356946
 Total Revenue2207299 2199876 2181576 6530973 6583959 8956763
2Segment Results      
 (a) Treasury Operations64811 165613 145167 397885 423165 524502
 (b) Wholesale Banking115747 104228 (176196)206063 (358324)(372484)
 (c) Retail Banking280973 183553 367927 612010 700881 1009253
 (d)Other Banking Operations12374 17041 8340 15924 6807 49468
 Total473905 470435 345238 1231882 772529 1210739
 Unallocated Expenditure 143085 163641 162417 431452 425989 564045
 Profit before Tax330820 306794 182821 800430 346540 646694
 Provision for Tax84445 90009 63225 218616 117694 491927
 Net Profit246375 216785 119596 581814 228846 154767
3Segment Assets      
 (a) Treasury Operations44171692 46044231 43473186 44171692 43473186 41908241
 (b) Wholesale Banking52622488 49716430 52652781 52622488 52652781 52007481
 (c) Retail Banking24797746 23653709 22734737 24797746 22734737 23655779
 (d)Other Banking Operations1151893 1074698 1165443 1151893 1165443 908482
 (e) Unallocated1961106 2140653 2290552 1961106 2290552 1787596
 Total Assets124704925 122629721 122316699 124704925 122316699 120267579
4Segment Liabilities      
 (a) Treasury Operations41038779 42814384 40665337 41038779 40665337 39037307
 (b) Wholesale Banking48890196 46228990 49252040 48890196 49252040 48444697
 (c) Retail Banking23038946 21994481 21266344 23038946 21266344 22035234
 (d)Other Banking Operations1070194 999312 1090169 1070194 1090169 846246
 (e) Unallocated1822013 1990493 2142610 1822013 2142610 1665137
 Total Liabilities115860128 114027660 114416500 115860128 114416500 112028621
5Capital Employed      
 (a) Treasury Operations3132913 3229847 2807849 3132913 2807849 2870934
 (b) Wholesale Banking3732292 3487440 3400741 3732292 3400741 3562784
 (c) Retail Banking1758800 1659228 1468393 1758800 1468393 1620545
 (d)Other Banking Operations81699 75386 75274 81699 75274 62236
 (e) Unallocated139093 150160 147942 139093 147942 122459
 Total Capital Employed8844797 8602061 7900199 8844797 7900199 8238958

Part- B : Geographic Segments   ( ₹ in Lakhs)
Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended
31.12.2021 30.09.2021 31.12.2020 31.12.2021 31.12.2020 31.03.2021
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1Revenue      
 (a) Domestic 2063180 2064866 2041098 6127987 6079794 8294924
 (b) International144119 135010 140478 402986 504165 661839
 Total2207299 2199876 2181576 6530973 6583959 8956763
2Assets      
 (a) Domestic 106026252 101499058 99496854 106026252 99496854 98816417
 (b) International18678673 21130663 22819845 18678673 22819845 21451162
 Total124704925 122629721 122316699 124704925 122316699 120267579

Liquidity Coverage Ratio (LCR) Disclosure - December 2021

  (Rs in crs)
  Name of the Bank : Bank of Baroda Daily Averages of Q3 Ending Dec 2021 (Solo basis) Daily Averages of Q3 Ending Dec 2021 (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)   2,33,784.77   2,38,192.89
Cash Outflows
2 Retail deposit and deposits from small business customers, of which: 6,24,284.98 59,276.81 6,44,965.13 61,081.14
(i) Stable Deposits 63,033.74 3,151.69 68,307.44 3,415.37
(ii) Less Stable Deposits 5,61,251.24 56,125.12 5,76,657.69 57,665.77
3 Unsecured wholesale funding, of which: 1,55,875.99 84,898.45 1,65,361.63 90,416.85
(i) Operational deposits (all counterparties) - - - -
(ii) Non-operational deposits (all counterparties) 1,55,875.99 84,898.45 1,65,361.63 90,416.85
(iii) Unsecured debt - - - -
4 Secured wholesale Funding 45,707.12 58.77 45,707.12 58.77
5 Additional requirements, of which 1,35,632.92 13,085.94 1,37,823.31 13,276.50
(i) Outflows related to derivative exposures and other collateral requirements 1.39 1.39 1.39 1.39
(ii) Outflows related to loss of funding on debt products - - - -
(iii) Credit and liquidity facilities 1,35,631.53 13,084.55 1,37,821.92 13,275.11
6 Other contractual funding obligations 1,223.95 1,223.95 1,388.28 1,388.28
7 Other contingent funding obligations 83,767.39 2,513.02 84,957.51 2,548.73
8 TOTAL CASH OUTFLOWS 10,46,492.35 1,61,056.95 10,80,202.97 1,68,770.27
Cash Inflows
9 Secured lending (e.g. reverse repos) 13,496.08 - 13,496.08 -
10 Inflows from fully performing exposures 29,537.63 25,280.98 33,490.50 28,467.07
11 Other cash inflows 1,996.05 1,249.68 2,228.37 1,368.79
12 TOTAL CASH INFLOWS 45,029.75 26,530.66 49,214.94 29,835.86
    Total Adjusted Value Total Adjusted Value
13 TOTAL HQLA   2,33,784.77   2,38,192.89
14 TOTAL NET CASH OUTFLOWS   1,34,526.29   1,38,934.41
15 LIQUIDITY COVERAGE RATIO (%)   173.78%   171.44%

Note: The Liquidity Coverage Ratio mentioned above is the daily average of 66 working days for the quarter Oct-Dec 2021


CFS A&L

Particulars Consolidated
As on 31st Dec 2021 As on 31st Dec 2020 As on 31st March. 2021
Un-Audited Un-Audited Audited
CAPITAL & LIABILITIES   
Capital10355392537103553
Reserves and Surplus874124378076618135405
Minority Interest488464305543620
Deposits1007753029853045299590981
Borrowings960767296798167126334
Other Liabilities and Provisions 542830961631785267686
T O T A L124704925122316699120267579
ASSETS   
Cash and Balances with Reserve Bank of India474084032857274015372
Balances with Banks and Money at Call and Short Notice5790310110780548850741
Investments328507862868095728185900
Advances751572177153234772324225
Fixed Assets770677850804821694
Other Assets 537270468664196047256
Goodwill on Consolidation223912239122391
T O T A L124704925122316699120267579

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 February 5, 2022. The same has been subjected to limited review by Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015, as amended thereafter.
  • 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 month ended December 31, 2021 as followed in the previous financial year ended March 31, 2021.
  • The above financial results have been arrived at after considering necessary provision for NPAs, Standard Assets, Restructured Assets and Investment Depreciation/Provision, Provisions for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis 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, liquidity coverage ratio and Net stable funding ratio (NSFR) under the Basel- III framework are being made available on our website “https://www.bankofbaroda.in/shareholders-corner/disclosures-under-basel-iii". 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, 7 Overseas Subsidiaries, 3 Joint Ventures and 4 Associates as under :-
  • A. Subsidiaries Country of Incorporation Type Percentage of Holding
    iThe Nainital Bank LimitedIndiaBanking98.57%
    iiBOB Financial Solutions LimitedIndiaNon-Banking100%
    iiiBOB Capital Markets LimitedIndiaNon-Banking100%
    ivBaroda Global Shared Services LimitedIndiaNon-Banking100%
    vBaroda Sun Technologies LimitedIndiaNon-Banking100%
    viBaroda Asset Management India Limited IndiaNon-Banking100%
    viiBaroda Trustee India Private LimitedIndiaNon-Banking100%
    viiiBank of Baroda (Uganda) Limited (consolidated)UgandaBanking80%
     Baroda Capital Markets (Uganda) Limited (Subsidiary of Baroda (Uganda) Limited.UgandaNon-Banking100%
    ixBank of Baroda (Kenya) LimitedKenyaBanking86.7
    xBank of Baroda (Botswana) LimitedBotswanaBanking100%
    xiBank of Baroda (New Zealand) LimitedNew ZealandBanking100%
    xiiBank of Baroda (Guyana) Inc.GuyanaBanking100%
    xiiiBank of Baroda (UK) LimitedUnited KingdomBanking100%
    xivBank of Baroda (Tanzania) LimitedTanzaniaBanking100%
    B. Joint Ventures   
    iIndia Infradebt LimitedIndiaNon-Banking40.99%
    ii IndiaFirst Life Insurance Company LimitedIndiaNon-Banking44%
    iiiIndia International Bank (Malaysia) BhdMalaysiaBanking40%
    C.  Associates   
    iBaroda U.P. BankIndiaRRB35%
    iiBaroda Rajasthan Kshetriya Gramin BankIndiaRRB35%
    iiiBaroda Gujarat Gramin BankIndiaRRB35%
    ivIndo Zambia Bank Limited   ZambiaBanking20%
  • Based on the available financial statements and the declarations from borrowers, 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 ₹19057 lakhs as on December 31, 2021.
  • The spread of COVID-19 has led to a regional lockdown and in turn led to significant volatility in Global and Indian financial markets and the resultant decrease in global and local economic activities during the first and second wave of COVID-19 pandemic. Further, the extent to which the COVID pandemic and its future waves if any may impact the Bank's operation and asset quality are uncertain.
  • The bank is however keeping a close watch on developments on an ongoing basis and taking proactive measures continuously to maintain and improve asset quality. The bank, therefore, believes that there may not be any significant impact on Bank's future financial results.
  • The Honourable Supreme Court of India vide an interim order dated 03.09.2020 had directed that accounts which were not declared NPA till 31.08.2020 shall not be declared as NPA till further orders, which was complied with by the Group. The said interim order was vacated on 23.03.2021 and the Bank adhered to the asset classification of borrower accounts as per the extant regulatory lRAC norms. In view of this, the results for the nine months ended December 2021 may not be comparable with the corresponding nine months of FY 2020-21.
  • The Bank is holding additional provision of Rs.55893 lakhs over and above the provision as per IRAC norms in certain stressed standard advances on prudent basis.
  • As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/2017-18 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 ₹ 768180 lakhs being 100% of total outstanding as on December 31, 2021.
  • The Bank has estimated the additional liability on account of revision in family pension for employees as per IBA Joint Note dated November 11, 2020, amounting to ₹ 145441 lakhs. However, RBI vide their Circular RBI/2021-22/105 DOR.ACC.REC.57/21.04.018/2021-22 dated 4th October 2021, has permitted Banks to amortize the said additional liability over a period of not exceeding 5 (five) years, beginning with financial year ending 31st March 2022, subject to a minimum of 1/5th of the total amount being expensed every year. Bank has opted the said provision of RBI, charged an amount of ₹ 7272 lakhs & 21816 lakhs to the Profit & Loss account for the quarter and Nine months ended 31st December 2021 respectively and the balance unamortized expense of ₹123625 lakhs has been carried forward. Had the Bank charged the entire additional liability to the Profit and Loss Account, the net profit for the quarter and Nine months ended December 31, 2021 would have been lower by ₹ 92509 lakhs.
  • In accordance with RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated 01.01.2019, 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 on 'Restructuring of Advances - Micro, Small and Medium Enterprises (MSME) Sector (One Time Restructuring), the details of MSME restructured borrowers is as under:
  • No of Accounts Amount as on 31.12.2021
    101123 757115
  • In accordance with RBI circular No DOR.STR.REC.12/21.04.048/2021-22 dated 05.05.2021 & RBI circular No DOR.STR.REC.21/21.04.048/2021-22 dated 04.06.2021 on Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs), the details of accounts restructured is as under.
  • No of Accounts Amount as on 31.12.2021 Provision Held
    24465 180250 20700
  • In accordance with the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals1 and Small Business2”, the number of borrower accounts where modification were sanctioned and implemented and the aggregate exposure to such borrowers are as under:-
  • No of Accounts Aggregate exposure as on 31.12.2021
    6633 65337

    (1. Individual covers only Personal Loan segment as per RBI circular No DOR. No. BP.BC/3/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(a) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.
    2. Small Business (including retail trade and wholesale trade) extended to individual which were covered under MSME as per RBI circular No DOR. No. BP.BC/4/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(b) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.)

  • 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, 2021 is ₹ 17478 lakhs which is to be amortised in the subsequent quarters by the Bank.
  • As per RBI 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, guidelines for implementation of Resolution Plan has been issued, also containing requirements of additional provisions as per para 17 of this RBI circular. The Bank is holding additional provision of ₹ 401592 lakhs as on 31.12.2021 in 27 nos. of accounts as detailed below.
  • Amount of Loans impacted by RBI Circular (A) Amount of Loans to be classified as NPA (B) Amount of Loans as on 31.12.2021 out of (B) classified as NPA (C) Provision held as on 30.09.2021 (D) Additional provision/ (reversal) made during quarter ended 31.12.2021 (E) Provision held as on 31.12.2021 (F)
    1391819 965122 965122 511868 (110276) 401592
  • Penalties of ₹ 168 lakhs and ₹ 465 lakhs have been imposed on the Group by Reserve Bank of India for the quarter and Nine months ended December 31, 2021 respectively.
  • Details of Priority Sector Lending Certificate (PSLC) purchased and sold are as under:
  • Particulars Amount In ₹ Lakhs
    PSLC Purchased
    During Q3 (From 01.10.2021 to 31.12.2021) Nil
    Cumulative till Q3 (From 01.04.2021 to 31.12.2021) 350000
    PSLC Sold
    During Q3 (From 01.10.2021 to 31.12.2021) Nil
    Cumulative till Q3 (From 01.04.2021 to 31.12.2021) 100000
  • In the case of one of the subsidiary Nainital Bank Limited, the management of the subsidiary and the Parent has initiated various steps to improve the controls required as per various regulatory directions in the area of core Banking solution, classification and identification of loan losses and other supervisory functions. The management of Parent Bank does not foresee any material impact over the Group Financial position arising out of the same.
  • Disclosure as per the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals and Small Business”, is as under:-
  • Sl. No Description Individual Borrowers Small Business
    Personal Loans Business Loans
    (A) Number of requests received for invoking resolution process under Part A 33477 8 10968
    (B) Number of accounts where resolution plan has been implemented under this window 33477 8 10967
    (C) Exposure to accounts mentioned at (B) before implementation of the plan 419002 22.65 54895
    (D) Of (C), aggregate amount of debt that was converted into other securities 0 0 0
    (E) Additional funding sanctioned, if any, including between invocation of the plan and implementation 0 0 0
    (F) Total provisions on account of the implementation of the resolution plan 55513 4.45 6717
  • Disclosure as per the RBI Master directions ref no RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 “Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021” dated 24.09.2021 is as under:
    1. Details of stressed loans transferred is as under:
    2. Details of stressed loans (NPA Accounts) transferred during the period of 01.04.2021 to 31.12.2021
      To ARCs To permitted transferees To other transferees
      No: of accounts 17 4 -
      Aggregate principal outstanding of loans transferred 92125 3940 -
      Weighted average residual tenor of the loans transferred - - -
      Net book value of loans transferred (at the time of transfer) 23133 158 -
      Aggregate consideration 37374 904 -
      Additional consideration realized in respect of accounts transferred in earlier years - - -
      Quantum of excess provision reversed to the profit & loss account on account of sale of stressed loans 14241 746 -
    3. Details of stressed Loan Acquired during FY 2021-22 - Nil
    4. Details of Loans (Not in Default) transferred or acquired during FY 2021-22 – Nil
    5. The Distribution of the SRs held across the various categories of Recovery Ratings assigned to such SRs by the credit Rating Agencies as on 31.12.2021
  • Recovery Rating Band Book Value (Rs. In Lakhs)
    RR1+ 118
    RR1 6116
    RR2 17635
    RR3 649
    RR4 4220
    RR5 18709
    NR3 4710
    NR5 1640
    NR6 32557
    Rating withdrawn 37726
    Grand Total 124080
  • Other income of the Bank includes recoveries made in written off accounts, fee income on non-fund based banking activities, earnings from foreign exchange transactions, profit and loss on revaluation of investments, profit and loss on sale of investments and dividends from subsidiaries etc.
  • Notes on Segment Reporting
    1. 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).
    2. Segment revenue represents revenue from external customers.
    3. Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The comparative figures for quarter ended December 31, 2021 are the balancing figures between reviewed figures in respect of the Nine months ended December 31, 2021 and the published year to date figures up to September 30, 2021.
  • The figures of the previous period have been regrouped/rearranged, wherever necessary, to conform to the current period classification.

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