Financial Report 2006-07

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December 07
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Unaudited Financial Results for the Quarter / Nine Months ended 31st December 2007

Rs in Lacs
Sr. No.   Particulars Quarter Ended 31.12.07 (Unaudited) Quarter Ended 31.12.06 (Unaudited) Nine Months Ended 31.12.07 (Unaudited) Nine Months Ended 31.12.06 (Unaudited) Year Ended 31.03.07 (Audited)
1 Interest Earned (a+b+c+d) 300219 233444 848240 638315 900409
  a) Interest/discount on advances/bills 216314 156299 608624 414688 593736
  b) Income on Investments 71108 66952 196923 189092 256031
c) Interest on balances with RBI and other inter-bank funds 10038 10200 37939 33267 46646
  d) Others 2759 -7 4754 1268 3996
2 Other income 61799 33367 149641 93293 138179
3 TOTAL INCOME (1+2) 362018 266811 997881 731608 1038588
4 Interest expended 200471 142623 559910 385915 542656
5 Operating Expenses (a+b) 68307 63753 216561 178591 254431
a) Employees cost 39589 43245 138261 120229 164406
b) Other Operating expenses 28718 20508 78300 58362 90025
6 TOTAL EXPENDITURE (4+5) Excluding Provisions & Contingencies 268778 206376 776471 564506 797087
7  Operating Profit before Provisions and Contigencies (3-6) 93240 60435 221410 167102 241501
8 Provisions (other than tax) and Contingencies 15696 8913 39645 44900 76074
9 Exceptional Items          
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 77544 51522 181765 122202 165427
11 Tax expenses 27439 18609 65857 44121 62780
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 50105 32913 115908 78081 102647
13 Extraordinary items (net of tax expenses)          
14 Net Profit (+) / Loss (-) for the period (12-13) 50105 32913 115908 78081 102647
15 Paid-up Equity Share Capital (Face Value of Rs.10/- each) 36553 36553 36553 36553 36553
16 Reserves excluding revaluation reserves (as per Balance Sheet of previous year) 807055 725420 807055 725420 807055
17 Analytical Ratios    
i Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii Capital Adequacy Ratio {%) 13.51 12.24 13.51 12.24 11.80
iii Earning Per Share          
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 13.75 9.04 31.82 21.44 28.18
iv) NPA Ratios  
(a) Gross NPA 204030 238860 204030 238860 209214
Net NPA 51724 51468 51724 51468 50167
(b)% of Gross NPA 2.11 3.02 2.11 3.02 2.47
% of Net NPA 0.54 0.67 0.54 0.67 0.60
(c)Return on Assets 1.37 1.12 1.06 0.89 0.80
18 Public Shareholding  
Number of shares 168266400 168266000 168266400 168266000 168266000
Percentage of shareholding 46.19 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter Ended 31.12.2007.

  • The above results have been taken on record by the Board at its meeting held on 30-01-2008. The same has been subjected to limited review by Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the nine months ended 31st Dec 2007 as compared to those followed in the preceding financial year 2006-07 , excepting accounting for dividend on shares of subsidiaries, joint ventures and associate companies, which is now recognised on realisation. There is no impact on the financials for the quarter due to this change in the accounting policy.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjsutments, NOSTRO, Drafts / TTs payablle, Clearing Adjustments , Dividend / Interest / Refund Orders Paid / Payable etc. is in progress.
  • The financial results for the Quarter/ 9 months ended 31.12.07 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) and contingencies including for employee benefits have been considered on estimated and proportionate basis and is subject to adjustment at year end.
  • The Transitional liability as per the Limited Revision to Accounting Standard (AS-15)(revised) on Employee Benefits issued by the Institute of Chartered Accountants of India based on acturial valuation is Rs.901 Cr. The Bank has charged a sum of Rs.135.15 crores to its Profit & Loss account being proportionate transitional liability for 9 months out of Rs.180.20 Crores upto 31.03.2008, being one-fifth of the entire liability . The balance of Rs.720.80 Crore will be charged to Profit & Loss Account over the next four years.
  • During the 9 months ended Dec-07, Tier II bonds amounting to Rs.1682.43 crores were issued including Medium Term Notes of USD 300 mn (Rs.1182.43 crores).
  • In terms of RBI Guidelines, the bank has during the quarter ended June 2007 transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category and a depreciation of Rs.37.08 crores has been charged to the Profit and Loss A/c.
  • The Bank has commenced operations at Hongkong w.e.f. 1st April 2007 by taking over the business of subsidiary, Bank of Baroda (Hongkong) Ltd. The results shown above for the quarter / 9 months ended 31.12.07 are inclusive of the operations at Hongkong. The Bank has started operations of its subsidiary Bank of Baroda (Trinidad & Tobago) Ltd. during the quarter.
  • Auditors qualifications for the year ended 31st Mar 07 and for the quarter ended 30th June & 30th Sep 07 have been dealt with in Note No.3 & 5 above.
  • As per RBI clarification dated 11th July 2007, Banks should reflect the amortisation of premium on investments held under HTM category as a deduction from Interest Income on investments instead of deduction from Other Income. Accordingly, the bank has carried out the reclassification. This change does not have any impact on the net profit for the periods under review.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter    Nil
    • Received during the quarter        38
    • Disposed off during the quarter      38
    • Pending at the close of the quarter    Nil
  • The figures of previous period have been regrouped / rearranged, wherever necessary, to correspond to current period classification.

Part A - Business Segments

Sr. No. Particulars Quarter Ended 31.12.07 (Reviewed) Quarter Ended 31.12.06 (Reviewed) Nine Months Ended 31.12.07 (Reviewed) Nine Months Ended 31.12.06 (Reviewed) Year ended 31.03.07 (Audited)
1 Segment Revenue  
(a) Treasury Operations 106399 90129 291803 263500 376795
(b)Other Banking Operations 255619 176682 706078 468108 661793
Total Revenue 362018 266811 997881 731608 1038588
2 Segment Results  
(a) Treasury Operations 34450 6117 69825 9649 50838
(b) Other Banking Operations 61620 58333 185330 126234 177285
Total 96070 64450 255155 135883 228123
Unallocated expenditure 18526 12928 73390 13681 62697
Profit before Tax 77544 51522 181765 122202 165426
Provision for Tax 27439 18609 65857 44121 62779
Net Profit 50105 32913 115908 78081 102647
3 Capital Employed  
(a) Treasury Operations 76485 33589 76485 33589 -29499
(b) Other Banking Operations 1172164 996868 1172164 996868 1054090
(c) Unallocated -268525 -168059 -268525 -168059 -159597
Total Capital Employed 980124 862398 980124 862398 864994

Part-B : Geographic Segments

Sr. No.   Quarter Ended 31.12.07 (Reviewed) Quarter Ended 31.12.06 (Reviewed) Nine Months Ended 31.12.07 (Reviewed) Nine Months Ended 31.12.06 (Reviewed) Year Ended 31.03.07 (Audited)
1 Revenue  
(a) Domestic 307166 228660 846884 623931 886892
(b) International 54852 38151 150997 107677 151696
Total 362018 266811 997881 731608 1038588
2 Assets  
[a) Domestic 13132876 10667227 13132876 10667227 11507856
(B) International 3022604 2431107 3022604 2431107 2806762
Total 16155480 13098334 16155480 13098334 14314618

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.
  • Segment revenue represents revenue from external customers.
Place: Mumbai Date: 30.01.2008 Satish C. Gupta (Executive Director) V. Santhanaraman (Executive Director) Dr. Anil K. Khandelwal (Chairman & Managing Director)
Sr. No. Workings Quarter Ended 31.12.07 Quarter Ended 31.12.06 Nine Months Ended 31.12.07 Nine Months Ended 31.12.06 Year Ended 31.03.07
1 Segment Assets  
(a) Treasury Operations 5445465 4259787 5445465 4259787 4469127
(b) Other Banking Operations 10539640 8606972 10539640 8606972 9662124
Total 15985105 12866759 15985105 12866759 14131251
2 Unallocated Assets 170375 231575 170375 231575 183367
Total 16155480 13098334 16155480 13098334 14314618
1 Segment Liabilities  
(a) Treasury Operations 5368980 4226198 5368980 4226198 4498626
(b) Other Banking Operations 9367476 7610104 9367476 7610104 8608034
Total 14736456 11836302 14736456 11836302 13106660
2 Unallocated Liabilities 1419024 1262032 1419024 1262032 1207958
Total 16155480 13098334 16155480 13098334 14314618

Unaudited Financial Results for the Quarter / Half Year Ended 30th September, 2007

Rs in Lakhs
Sr No. Particulars Quarter Ended 30.09.07 (Unaudited) Quarter Ended 30.09.06 (Unaudited) Half Year Ended 30.09.07 (Unaudited) Half Year Ended 30.09.06 (Unaudited) Full Year Ended 31.03.07 (Audited)
1 Interest earned (a+b+c+d) 287977 213335 548021 404870 900409
a) Interest/discount on advances/bills 205248 139448 392310 258389 593736
b ) Income on Investments 67742 62768 125815 122140 256031
c) Interest on balances with RBI and other inter-bank funds 13734 10984 27901 23067 46646
d) Others 1253 135 1995 1274 3996
2 Other income 45406 32174 87842 59926 138179
3 A TOTAL INCOME (1+2) 333383 245509 635863 464796 1038588
4 Interest expended 189833 129515 359439 243292 542656
5 Operating Expenses (a+b) 79826 59680 148254 114837 254431
a) Employees Cost 53669 38729 98672 76984 164406
b) Other Operating expenses 26157 20951 49582 37853 90025
6 Total Expenditure (4+5) Excluding Provisions and Contingencies 269659 189195 507693 358129 797087
7 Operating Profit before Provisions & Contingencies (3-6) 63724 56314 128170 106667 241501
8 Provisions (other than tax) and Contingencies 9805 10677 23949 35987 76074
9 Exceptional Items 0 0 0 0 0
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 53919 45637 104221 70680 165427
11 Tax expenses 21200 16801 38418 25512 62780
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 32719 28836 65803 45168 102647
13 Extraordinary items (net of tax expenses) 0 0 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 32719 28836 65803 45168 102647
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 807055 725420 807055 725420 807055
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio 12.90 12.93 12.90 12.93 11.80
iii) Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 8.98 7.92 18.06 12.40 28.18
iv) NPA Ratios
a) Gross NPA 212914 248800 212914 248800 209214
Net NPA 49655 54022 49655 54022 50167
b) % of Gross NPA 2.33 3.44 2.33 3.44 2.47
% of Net NPA 0.55 0.77 0.55 0.77 0.60
c) Return on Assets 0.94 1.01 0.95 0.79 0.80
18 Public Shareholding
No. of shares 168266400 168265600 168266400 168265600 168266000
Percentage of shareholding 46.19 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter Ended 30.09.2007.

  • The above financial results have been approved and taken on record by the Board at its meeting held on 31-10-07. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements
  • There has been no change in the Accounting Policies adopted during the half year ended 30.09.2007 as compared to those followed in the preceeding financial year 2006-07, excepting accounting for dividend on shares of subsidiaries, joint ventures and associate companies, which is now recognised on realisation. There is no impact on the financials for the quarter due to this change in the accounting policy.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
  • The financial results for the Quarter/ Half year ended 30.09.07 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) and contingencies including for employee benefits have been considered on estimated and proportionate basis and is subject to adjustment at year end.
  • A sum of Rs.90.10 crores has been charged to Profit and Loss A/c on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007 as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India.
  • During the Half year ended Sep-07, Tier II bonds amounting to Rs.1195.35 crores (USD 300 mn) have been issued by way of Medium Term Notes.
  • In terms of RBI Guidelines, the bank has during the quarter ended June 2007 transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category and a depreciation of Rs.37.08 crores has been charged to the Profit and Loss A/c
  • The Bank has commenced operations at Hongkong w.e.f. 1st April 2007 by taking over the business of subsidiary, Bank of Baroda (Hongkong) Ltd. The results shown above for the quarter / half year ended 30.09.07 are inclusive of the operations at Hongkong.
  •  Auditors qualifications for the year ended 31st March 2007 and for the quarter ended 30th June 2007 have been dealt with in Note No.3 & 5 above.
  •  As per RBI clarification dated 11th July 2007, Banks should reflect the amortisation of premium on investments held under HTM category as a deduction from Interest Income on investments instead of deduction from Other Income. Accordingly, the bank has carried out the reclassification. This change does not have any impact on the net profit for the periods under review.
  • During the quarter ended 30th Sept 2007, the bank has annulled the forfeiture of 400 equity shares.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter    Nil
    • Received during the quarter        62
    • Disposed off during the quarter      62
    • Pending at the close of the quarter    Nil
  • The figures of previous period have been regrouped / rearranged, wherever necessary, to correspond to current period classification.

SEGMENT REPORTING FOR THE QUARTER ENDED 30.09.2007

Part A - Business Segments

Rs in Lakhs
Sr No. Particulars Quarter Ended 30.09.07 (Reviewed) Quarter Ended 30.09.06 (Reviewed) Half Year Ended 30.09.07 (Reviewed) Half Year Ended 30.09.06 (Reviewed) Full Year Ended 31.03.07 (Audited)
1 Segment Revenue
(a) Treasury Operations 96388 90358 185404 173371 376795
(b)Other Banking Operations 236995 155151 450459 291425 661793
Total Revenue 333383 245509 635863 464796 1038588
2 Segment Results
(a) Treasury Operations 21563 13161 35375 3532 50838
(b) Other Banking Operations 67385 49487 123710 78389 177285
Total 88948 62648 159085 81921 228123
Unallocated expenditure 35029 17011 54864 11241 62697
Profit before Tax 53919 45637 104221 70680 165426
Provision for Tax 21200 16801 38418 25512 62779
Net Profit 32719 28836 65803 45168 102647
3 Capital Employed
a) Treasury Operations -20554 -27917 -20554 -27917 -29499
(b) Other Banking Operations 1203377 1022888 1203377 1022888 1054090
c) Unallocated -253165 -165100 -253165 -165100 -159597
Total Capital Employed 929658 829871 929658 829871 864994

Part-B : Geographic Segments

Sr No. Particulars Quarter Ended 30.09.07 (Reviewed) Quarter Ended 30.09.06 (Audited) Half Year Ended 30.09.07 (Audited) Half Year Ended 30.09.06 (Reviewed) Full Year Ended 31.03.07 (Audited)
1 Revenue
(a) Domestic 282164 207651 539718 395270 886892
(b) international 51220 37858 96145 69526 151696
Total 333383 245509 635863 464796 1038588
2 Assets
(a) Domestic 12054479 10465877 12054479 10465877 11507856
(b) International 3067194 2189704 3067194 2189704 2806762
Total 15121673 12655581 15121673 12655581 14314618

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.
  • Segment revenue represents revenue from external customers.
Place: Mumbai Date: 31/10/2007 Shri.Satish C Gupta (Executive Director) V. Santhanaraman (Executive Director) Dr. Anil K. Khandelwal (Chairman & Managing Director)
Sr. No. Workings Quarter Ended Quarter Ended Half Year Ended Half Year Ended Full Year ended
30.09.07 30.09.06 30.09.07 30.09.06 31.03.07
1 Segment Assets
(a) Treasury Operations 4940367 4461034 4940367 4461034 4469127
(b)Other Banking Operations 10010040 7986470 10010040 7986470 9662124
Total 14950407 12447504 14950407 12447504 14131251
Unallocated Assets 171266 208077 171266 208077 183367
Total 15121673 12655581 15121673 12655581 14314618
2 Segment Liabilities
(a) Treasury Operations 4960921 4488951 4960921 4488951 4498626
(b)Other Banking Operations 8806663 6963582 8806663 6963582 8608034
Total 13767584 11452533 13767584 11452533 13106660
Unallocated Liabilities 1354089 1203048 1354089 1203048 1207958
Total 15121673 12655581 12655581 14314618 14314618

Unaudited Financial Results for the Quarter Ended 30th June, 2007

Rs. in Crores
Sr. No.   Particulars Quarter Ended 30.06.07 (Reviewed) Quarter Ended 30.06.06 (Reviewed) Year Ended 31.03.07 (Audited)
1   Interest Earned (a+b+c+d) 2654.62 1967.67 9212.64
  a) Interest/discount on advances/bills 1870.62 1189.41 5937.36
  b) Income on Investments 634.90 646.03 2768.86
c) Interest on balances with RBI and other inter-bank funds 141.67 120.83 466.46
d) Others 7.42 11.40 39.96
2 Other income 370.19 225.20 1173.24
A TOTAL INCOME (1+2) 3024.80 2192.87 10385.88
3 Interest expended 1696.06 1137.77 5426.56
4 Operating Expenses (e+f) 684.28 551.27 2544.31
e) Payments to and Provisions for employees 450.03 382.55 1644.06
f) Other Operating expenses 234.25 169.02 900.25
B TOTAL EXPENDITURE (3+4) {Excluding Provisions & Contingencies) 2380.34 1689.34 7970.87
C OPERATING PROFIT (A-B) (Profit before Provisions & Contingencies) 644.46 503.53 2415.01
D Provisions & Contingencies 141.44 253.10 760.75
(of which provisions for Non Performing Assets) 111.87 123.00 219.09
E Provision for taxes 172.18 87.11 627.79
F NET PROFIT (C-D-E) 330.84 163.32 1026.47
5 Paid-up Equity Share Capital (Face Value of Rs.10/- each) 365.53 365.53 365.53
6 Reserves excluding revaluation reserves (as per Balance Sheet of previous year) 8070.55 7254.20 8070.55
7 Analytical Ratios
i Percentage of Shares held by Government of India 53.81 53.81 53.81
ii Capital Adequacy Ratio {%) 14.33 12.43 11.80
iii Earning Per Share Rs.(not annuallsed) [Basic & Diluted] 9.08 4.48 28.18
iv {a) Amount of gross non-performing assets 2206.97 2554.73 2092.14
(b) Amount of net non-performing assets 519.56 561.03 501.67
(c) % of gross NPAs to gross Advances 2.78 4.06 2.47
(d) % of net NPAs to net Advances 0.67 0.92 0.60
v Return on Assets (annualised)% 1.01 0.61 0.80
8 Aggregate of Public Shareholding
Number of shares 168266000 168265600 168266000
Percentage of shareholding 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter Ended 30.06.2007.

  • The above results have been taken on record by the Board at its meeting held on 28-07-2007. The same has been subjected to review by Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 30.06.2007 as compared to those followed in the preceeding financial year 2006-07, excepting accounting for dividend which is now recognised on receipt basis. There is no impact on the financials for the quarter due to this change in the accounting policy.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjsutments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend / Interest / Refund Orders Paid / Payable etc. is in progress.
  • The financial results for the Quarter ended 30.06.07 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth Tax and Fringe Benefit tax) and contingencies including for employee benefits viz., gratuity, pension, leave encashment, additional retirement benefit of employees etc., have been considered on estimated basis.
  • During the quarter ended June-07, Tier II bonds amounting to Rs.1221.17 crores have been issued by way of Medium Term Notes denominated in USD.
  • The bank has not provided for transitional liability in respect of Employee benefits (Revised AS-15), pending receipt of guidelines from Reserve Bank of India in this regard.
  • In terms of RBI Guidelines, the bank has transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category and a depreciation of Rs.37.08 crores has been charged to the Profit and Loss A/c in this regard.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter    Nil
    • Received during the quarter        27
    • Disposed off during the quarter      27
    • Pending at the close of the quarter    Nil
  • The figures of previous period have been regrouped / rearranged, wherever necessary, to correspond to current period classification.

Segment Reporting For The Quarter Ended 30.06.2007

Part - A Business Segments

Sr. No. Particulars Quarter Ended 30.06.07 (Reviewed) Quarter Ended 30.06.06 (Reviewed) Year Ended 31.03.07 (Audited)
1 Segment Revenue
(a) Treasury Operations 890.16 830.15 3767.95
(b)Other Banking Operations 2134.64 1362.72 6617.93
Total 3024.80 2192.87 10385.88
2 Segment Results
(a) Treasury Operations 138.12 (50.18) 508.38
(b) Other Banking Operations 563.26 431.56 1772.85
Total 701.37 381.38 2281.23
Unallocated expenditure 198.35 130.96 626.97
Profit before Tax 503.02 250.42 1654.26
Provision for Tax 172.18 87.11 627.79
Net Profit 330.84 163.31 1026.47
3 Other Information
Segment Assets
(a) Treasury Operations 49296.10 47036.94 44691.27
(b) Other Banking Operations 92163.27 70403.78 96621.24
Total 141459.37 117440.72 141312.51
Unallocated Assets 2625.38 2068.23 1833.67
Total 144084.75 119508.95 143146.18
Segment Liabilities
a) Treasury Operations 49056.02 46821.01 44986.26
(b) Other Banking Operations 82251.67 61766.21 86080.34
Total 131307.69 108578.22 131066.60
Unallocated Liabilities 12777.06 10930.73 12079.58
Total 144084.75 119508.95 143146.18

Part - B Geographic Segments

Sr. No. Particulars Quarter Ended 30.06.07 (Reviewed) Quarter Ended 30.06.06 (Reviewed) Year Ended 31.03.07 (Audited)
1 Revenue
(a) Domestic 2575.55 1876.19 8868.92
(b) international 449.25 316.68 1516.96
Total 3024.80 2192.87 10385.88
2 Assets
(a) Domestic 114348.43 99943.64 115078.56
(b) International 29736.32 19565.31 28067.62
Total 144084.75 119508.95 143146.18

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.
  • Segment revenue represents revenue from external customers.
Place: Mumbai
Date: 28.07.2007		 Satish C.Gupta
(Executive Director)		 V.Santhanaraman
(Executive Director)		 Dr. Anil K. Khandelwal
(Chairman & Managing Director)

Audited Financial Results for the Quarter / Year Ended 31st March, 2007

Rs. in Crores
Sr. No.   Particulars Quarter Ended 31.03.07 (Audited) Quarter Ended 31.03.06 (Audited) Year Ended 31.03.07 (Audited) Year Ended 31.03.06 (Audited)
1   Interest Earned (a+b+c+d) 2672.05 1955.05 9212.64 7049.93
  a) Interest/discount on advances/bills 1790.48 1081.25 5937.36 3777.82
  b) Income on Investments 720.50 747.01 2768.86 2906.35
c) Interest on balances with RBI and other inter-bank funds 133.79 120.33 466.46 330.93
d) Others 27.28 6.46 39.96 34.83
2 Other income 397.75 372.02 1173.24 1127.39
A TOTAL INCOME (1+2) 3069.80 2327.07 10385.88 8177.32
3 Interest expended 1567.41 1088.33 5426.56 3875.09
4 Operating Expenses (e+f) 758.40 666.66 2544.31 2384.75
e) Payments to and Provisions for employees 441.77 381.92 1644.06 1523.79
f) Other Operating expenses 316.63 284.74 900.25 860.96
B TOTAL EXPENDITURE (3+4) {Excluding Provisions & Contingencies) 2325.81 1754.99 7970.87 6259.84
C OPERATING PROFIT (A-B) (Profit before Provisions & Contingencies) 743.99 572.08 2415.01 1917.48
D Provisions & Contingencies 311.75 309.72 760.75 802.88
(of which provisions for Non Performing Assets) 32.80 173.46 219.09 360.23
E Provision for taxes 186.58 53.56 627.79 287.64
F NET PROFIT (C-D-E) 245.66 208.80 1026.47 826.96
5 Paid-up Equity Share Capital (Face Value of Rs.10/- each) 365.54 365.54 365.54 365.54
6 Reserves excluding revaluation reserves (as per Balance Sheet of previous year) 8070.55 7254.20 8070.55 7254.20
7 Analytical Ratios
i Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81
ii Capital Adequacy Ratio {%) 11.80 13.65 11.80 13.65
iii Earning Per Share Rs.(not annuallsed) 6.74 6.84 28.18 27.10
iv {a) Amount of gross non-performing assets 2092.14 2390.14 2092.14 2390.14
(b) Amount of net non-performing assets 501.67 518.04 501.67 518.04
(c) % of gross NPAs to gross Advances 2.47 3.90 2.47 3.90
(d) % of net NPAs to net Advances 0.60 0.87 0.60 0.87
v Return on Assets (annualised)% 0.77 0.80 0.80 0.79
8 Aggregate of Public Shareholding
Number of shares 168266000 168265500 168266000 168265500
Percentage of shareholding 46.19 46.19 46.19 46.19

Notes forming part of the financial results for the Quarter Ended 31.03.2007.

  • The above results have been taken on record by the Board at its meeting held on 28-04-2007. The same has been subjected to audit by Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the year ended 31.03.2007 as compared to those followed in the immediately preceding financial year 2005-06, except that dividend on shares of subsidiaries, Joint Ventures and Associates are recognised as Income as and when declared and dividend on other shares are accounted on actual realisation.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjsutments, NOSTRO, Drafts / TTs payablle, Clearing Adjustments (including interse the Bank's Overseas Branches and those Position Maintaining Offices in India), Dividend / Interest / Refund Orders Paid / Payable etc. is in progress.
  • The financial results for the Quarter/Year ended 31.03.07 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth Tax and Fringe Benefit tax) and contingencies including for retirement benefits viz., gratuity, pension, leave encashment, additional retirement benefit of employees etc., have been considered on actuarial basis.
  • During the year ended Mar-2007, Tier II bonds amounting to Rs.490.90 crores have been redeemed and Tier II Bonds amounting to Rs.920.00 crores has been issued.
  • During the year ended 31st Mar 2007, the bank has annulled the forfeiture of 500 equity shares.
  • BOB Housing Finance Ltd, a subsidiary of the bank, which has been merged with the bank w.e.f. 01.04.06 The figures of the year / quarter ended 31.03.07 are as such not comparable with the corresponding previous periods figures.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter    Nil
    • Received during the quarter        28
    • Disposed off during the quarter      28
    • Pending at the close of the quarter    Nil
  • The figures of previous period have been regrouped / rearranged, wherever necessary, to correspond to current period classification.

SEGMENT REPORTING FOR THE QUARTER / YEAR ENDED 31.03.2007

Part A - Business Segments

Sr. No. Particulars Quarter Ended 31.03.07 (Audited) Quarter Ended 31.03.06 (Audited) Year Ended 31.03.07 (Audited) Year Ended 31.03.06 (Audited)
1 Segment Revenue
(a) Treasury Operations 975.51 1061.94 3767.95 3919.70
(b)Other Banking Operations 1936.85 1296.51 6617.93 4371.99
Total 2912.36 2358.45 10385.88 8291.69
2 Segment Results
(a) Treasury Operations 254.45 (15.04) 508.38 152.31
(b) Other Banking Operations 510.51 165.89 1772.85 1,111.35
Total 764.96 150.85 2281.23 1,263.66
Unallocated expenditure 332.72 (111.51) 626.97 149.06
Profit before Tax 432.24 262.36 1654.26 1114.60
Provision for Tax 186.58 53.56 627.79 287.64
Net Profit 245.66 208.80 1026.47 826.96
3 Other Information
Segment Assets
(a) Treasury Operations 44691.27 44592.62 44691.27 44592.62
(b) Other Banking Operations 96621.24 66917.79 96621.24 66917.79
Total 141312.51 111510.41 141312.51 111510.41
Unallocated Assets 1833.67 1882.12 1833.67 1882.12
Total 143146.18 113392.53 143146.18 113392.53
Segment Liabilities
a) Treasury Operations 44986.26 44446.51 44986.26 44446.51
(b) Other Banking Operations 86080.34 55835.74 86080.34 55835.74
Total 131066.60 100282.25 131066.60 100282.25
Unallocated Liabilities 12079.58 13110.28 12079.58 13110.28
Total 143146.18 113392.53 143146.18 113392.53

Part-B Geographic Segments

Sr. No. Particulars Quarter Ended 31.03.07 (Audited) Quarter Ended 31.03.06 (Audited) Year Ended 31.03.07 (Audited) Year Ended 31.03.06 (Audited)
1 Revenue
(a) Domestic 2472.17 2112.00 8868.92 7455.67
(b) international 440.19 246.45 1516.96 836.02
Total 2912.36 2358.45 10385.88 8291.69
2 Assets
[a) Domestic 115078.56 95156.46 115078.56 95156.46
(B) International 28067.62 18236.07 28067.62 18236.07
Total 143146.18 113392.53 143146.18 113392.53

Notes on Segment Reporting:

  • As per guidelines of RBI on compliance with Accounting Standards, Bank has adopted "Treasury Operations" and "Other Banking Opertions" as Primary business segments and "Domestic" and "International" as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
  • In determining the segment results, the funds transfer price mechanism followed by the the bank has been used.
  • Segment revenue represents revenue from external customers.
Place: Mumbai
Date: 28.04.2007		 V. Santhanaraman
(Executive Director)		 Dr. Anil K. Khandelwal
(Chairman & Managing Director)

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