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SEBI Format

Audited Financial Results for the Quarter/ Year Ended 31st March 2019

(Rs. in lakhs)

Sr. No. Particulars Quarter Ended Year Ended (Standalone) Year Ended (Consolidated)
31.03.2019 31.12.2018 31.03.2018 31.03.2019 31.03.2018 31.03.2019 31.03.2018
Audited Reviewed Audited Audited Audited Audited Audited
1 Interest earned (a)+(b)+(c)+(d) 1331418 1294171 1103926 4997411 4364854 5290625 4605642
(a) Interest /discount on advances / bills 918441 900044 745689 3438897 2906982 3562320 3010643
(b) Income on investments 325324 331578 278071 1278672 1042016 1417523 1156664
(c) Interest on balances with Reserve Bank of India and other inter bank funds 43463 39894 38269 173520 241479 201322 262022
(d) Others 44190 22655 41897 106322 174377 109460 176313
2 Other Income 197041 162114 169590 609099 665715 788705 799221
3 Total Income (1 + 2) 1528459 1456285 1273516 5606510 5030569 6079330 5404863
4 Interest Expended 824722 819848 703700 3129030 2812677 3250572 2916048
5 Operating Expenses (a)+ (b)+ (C) 317658 282584 303267 1128798 1017337 1276897 1132658
(a) Employees cost 141300 130353 126849 503913 460687 543412 490158
(b) Rent Taxes & Lighting 28273 24791 26843 103867 101108 109864 106495
(c) Other operating expenses 148085 127440 149575 521018 455542 623621 536005
6 Total Expenditure (4+5) excluding provisions and contingencies 1142380 1102432 1006967 4257828 3830014 4527469 4048706
7 Operating Profit (3-6) before Provisions and Contingencies 386079 353853 266549 1348682 1200555 1551861 1356157
8 Provisions (other than tax) and Contingencies 539929 279420 667238 1278867 1479629 1399403 1566724
of which provisions for NPA & Diminution value of all restructured a/cs 555010 341602 705253 1219240 1421172 1232298 1433539
9 Exceptional Items - - - - - - -
10 Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) (153850) 74433 (400689) 69815 (279074) 152458 (210567)
11 Provision for Taxes (54713) 27308 (90455) 26463 (35893) 43751 (19362)
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) (99137) 47125 (310234) 43352 (243181) 108707 (191205)
Less: Minority Interest NA NA NA NA NA 6616 5129
Add: Share of earnings in Associates NA NA NA NA NA 7919 7624
13 Extraordinary items (net of tax expenses) - - - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) (99137) 47125 (310234) 43352 (243181) 110010 (188710)
15 Paid-up equity share capital (Face Value of ₹2 each) 53036 53036 53036 53036 53036 53036 53036
16 Reserve excluding Revaluation Reserve - - - 4089663 3970807 4648199 4284959
17 Analytical Ratios
i) Percentage of shares held by Government of India 63.74 63.74 64.03 63.74 64.03 63.74 64.03
ii) Capital Adequacy Ratio(%) -Basel-III 13.42 11.67 12.13 13.42 12.13 14.52 12.87
a CET 1 Ratio (%) 10.38 8.65 9.23 10.38 9.23 11.60 10.08
b Additional Tier 1 Ratio (%) 1.17 1.21 1.23 1.17 1.23 1.12 1.19
iii) Earnings Per Share
Basic EPS before and after Extraordinary items net of tax expenses (not annualized) [ in ₹.] (3.75) 1.78 (13.44) 1.64 (10.53) 4.16 (8.17)
Diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [ in ₹.] (3.22) 1.78 (13.44) 1.41 (10.53) 3.58 (8.17)
iv) NPA Ratios
(a) Gross NPA 4823277 5318428 5648039 4823277 5648039 Not Applicable Not Applicable
Net NPA 1560950 1913050 2348265 1560950 2348265
(b) % of Gross NPA 9.61 11.01 12.26 9.61 12.26
% of Net NPA 3.33 4.26 5.49 3.33 5.49
v) Return on Assets (annualized) % (0.52) 0.25 (1.77) 0.06 (0.34)

Notes-SEBI

  • The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on May 22, 2019. The same have been subjected to audit by the Statutory Central Auditors of the Bank. The auditors have issued an unmodified opinion on above financial results.
  • The financial results of the bank for the quarter and year ended March 31, 2019 have been prepared based on the same accounting policies and practices as those followed in preceding financial year ended March 31, 2018
  • The figures for the quarter ended March 31, 2019 and March 31, 2018 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial years.
  • The Government of India on March 28, 2019 infused an amount of Rs 5042 crores towards preferential allotment of equity shares. Pending allotment of the shares, the amount has been disclosed under share application money pending allotment as on March 31, 2019. The Bank has considered such amount received from Government of India as a part of Common Equity Tier-1 (CET 1) capital as on March 31, 2019 as per RBI letter DBR.CO.BP.No.9771/21.01.002/2018-19 dated May 17, 2019.
  • 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 by the Statutory Central Auditors of the Bank.
  • The financial results for the year ended March 31, 2019, have been arrived at after considering provision for NPAs, Standard Assets, Standard Derivative Exposures, Restructured Assets, exposures to entities with Unhedged Foreign Currency Exposure, GST registered borrowers and depreciation / Provision for Investments and Non-Performing Investments on the basis of prudential norms and specific guidelines issued by the RBI. As a consistent practice, the Bank has made a provision of 20% on the Secured Sub-standard Advances as against the regulatory requirement of 15%. In addition to the above, provision is made on non-fundbased facilities of NPA borrowers by applying 50% credit conversion factor (CCF). The provision is based on the asset class of the fund-based facility of the borrower. Also 100% provision is made on certain class of non-performing retail advances.
    Provisions for contingencies, Employee Benefits, Direct Taxes (including Deferred Tax) have been made as per applicable Accounting Standards issued by Institute of Chartered Accountants of India.
  • As per RBI Circular No. DBR.No.BO.15199/21.04.048/2016-17 dated June 23, 2017, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the bank is holding total provision of Rs 20565 lakhs (Rs 30937 Lakhs as at March 31, 2018).

Statement of Assets & Liabilities is as under:-


Standalone Consolidated

(Rs in lakhs)

As on
31st March 2019
As on
31st March 2018
As on
31st March 2019
As on
31st March 2018
Audited Audited Audited Audited
CAPITAL & LIABILITIES
Capital 53036 53036 53036 53036
Share Application Money Pending Allotment 504200 - 504200 -
Reserves and Surplus 4541073 4286441 4941915 4603587
Minority Interest - - 34130 27252
Deposits 63868972 59131482 66558869 60745137
Borrowings 6720130 6257197 6886753 6485982
Other Liabilities and Provisions 2411329 2271821 2988291 2865498
T O T A L 78098740 71999977 81967194 74780492
ASSETS
Cash and Balances with Reserve Bank of India 2666173 2269964 2822535 2403499
Balances with Banks and Money at Call and Short Notice 6256789 7019774 6965949 7338776
Investments 18229808 16318453 19571624 17513723
Advances 46881874 42743183 48421481 43794126
Fixed Assets 699029 536739 714371 553228
Other Assets 3365067 3111864 3448844 3177140
Goodwill on Consolidation - - 22390 -
T O T A L 78098740 71999977 81967194 74780492

  • The Bank has considered exposure to 6 borrowers in Infrastructure Financial Services group as “Non performing” and made provision of Rs 40070 lakhs for the year ended March 31, 2019, which is 23.70% of the outstanding amounts.
  • RBI vide its letter DBR. No.BP.BC.9730/21.04.018/2017-18 dated April 27, 2018 had permitted banks to spread the additional liability on account of enhancement in gratuity limits from Rs 10 lakhs to Rs 20 lakhs over four quarters beginning with the quarter ended March 31, 2018 under the Payment of Gratuity Act, 1972. The bank had exercised the option in March 31, 2018 and provided an amount of Rs 9700 lakhs being one fourth of the liability and balance unamortised gratuity expenses of Rs 29100 lakhs was deferred to subsequent quarters. There is no unamortized balance in respect of such gratuity provision as at March 31, 2019.
  • Pursuant to the Accounting Standard 10 (revised) on “Property, Plant & Equipment” an amount of Rs 38804 lakhs (Previous year Rs 35898 lakhs) related to depreciation on revalued portion of fixed assets has been transferred from revaluation reserve to revenue reserve.
  • RBI vide circular no.DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018, permitted banks to continue the exposure to MSME borrowers to be classified as Standard Assets. Accordingly, Bank has retained MSME loans amounting Rs 146834 lakhs as Standard Assets as on March 31, 2019 and not recognised interest income of Rs 442 lakhs for the current year and maintained standard assets provision of Rs 7342 lakhs for these accounts for the year ended March 31, 2019.
  • As per 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), 5640 MSME borrower accounts were restructured during the year ended March 31, 2019 amounting to Rs 19075 lakhs.
  • The Bank during the year ended March 31, 2019 has issued the following tranches of BASEL-III compliant Tier-II bonds

Issue Date Bond Amount (in Rs. Lakhs)
December 07, 2018 Series XVIII 97150
December 17, 2018 Series XIX 24000
January 10, 2019 Series XX 28500
February 14, 2019 Series XXI 46000

Further, the bank has redeemed two series of bonds IPDI 1 (Tier I) & Series IX (Tier II) of Rs 30020 lakhs & Rs 100000 lakhs respectively.

  • 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 maintained a provision of Rs 7258 lakhs as on March 31, 2019 (Previous year Rs 3802 lakhs)
  • Other income of the Bank includes income from non fund based activities such as brokerage, commission, fees, income from foreign exchange fluctuation, profit / loss on sale of investments, recovery from written off accounts and income from sale of priority sector lending certificates etc.,
  • The Government of India through a gazette notification F.No.1/1/2017-BOA dated January 2, 2019 approved the scheme of amalgamation between Bank of Baroda, Dena Bank and Vijaya Bank. This notification was issued in consultation with Reserve Bank of India. On January 2, 2019 the Board of Directors of the Bank and the Board of Directors of Vijaya Bank and Dena Bank at their respective meetings, approved amalgamation of Vijaya Bank and Dena Bank with the Bank. The Boards of respective banks have also approved the swap ratio of 402 equity shares of Face Value Rs 2/- each of Bank of Baroda for every 1000 equity shares of Face Value Rs 10/- each of Vijaya Bank and the swap ratio of 110 equity shares of Face Value Rs 2/- each of Bank of Baroda for every 1000 shares of Face Value Rs 10/- each of Dena Bank. The amalgamation has come into effect from April 1, 2019, the appointed date, accordingly, this amalgamation does not have any impact on the financial results of the Bank as at March 31, 2019.
  • The Board of Directors and the Shareholders of the Bank had approved the issue of 1000 lakh shares of the Bank under Equity Share Purchase Scheme (ESPS) offer to the permanent employees of the Bank in their meetings held on November 29, 2018 and January 21, 2019 respectively subject to approval from regulatory authorities / Government of India. In view of the Amalgamation of Dena Bank and Vijaya Bank with Bank of Baroda, the scheme has been withdrawn.
    A fresh proposal for issue of 1500 lakh equity shares to the employees under ESPS scheme 2019 is approved by board of directors subject to necessary approvals from shareholders/ regulatory authorities/ Government of India.
  • As per RBI circular No. DBR.BP.BC.No.32/21.04.018/2018-19 dated April 1, 2019, in case the additional provisioning for NPAs assessed by RBI exceeds 10% of the reported profit before provisions and contingencies and/or additional Gross NPAs identified by RBI exceeds 15% of published incremental Gross NPAs for the reference period then banks are required to disclose divergences from prudential norms on income recognition, asset classification and provisioning. Accordingly, no disclosure is made in respect of divergence reported for the financial year 2017-18, as the same is not beyond the above mentioned thresholds.
  • Pursuant to the proposed bipartite agreement on wage revision (due with effect from November 01, 2017), a sum of Rs 52486 lakhs (Previous year Rs 10000 lakhs) for the year ended March 31, 2019.
  • Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 78.68% as on March 31, 2019 (Previous year 67.21%).
  • In reporting of Segment Assets, Liabilities, Revenue, Results, certain estimates and assumptions have been considered by the management, which have been relied upon by the Statutory Central Auditors.
  • Details of Investor's complaints for the quarter ended March 31, 2019: Pending at Beginning: 0; Received: 224; Disposed off: 224; Closing: 0.
  • A penalty of Rs 574 Lakhs has been imposed on the Bank by Reserve Bank of India during the year ended March 31, 2019 on various matters out of which Rs 400 lakhs on account of delay in implementation of SWIFT related operational controls.
  • 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.
  • Notes on Consolidated Financial Statement (CFS)
    a. The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on May 22, 2019. The same have been subjected to an audit by the Statutory Central Auditors of the Bank.
    b. The CFS are prepared in accordance with 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 CFS.
    c. During the year ie on September 28, 2018, the bank has acquired additional 51% share in Baroda Asset Management Co. Ltd (Formerly Baroda Pioneer Asset Management Co. Ltd) and Baroda Trustee Co. Pvt. Ltd (Formerly Baroda Pioneer Trustee Co. Pvt. Ltd) Accordingly these companies are wholly owned subsidiaries of the Bank as at March 31, 2019 (Previously Associates with
  • The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classification.

Segment

Segment reporting for the Quarter/ Year Ended 31st March 2019
Part A-Business Segments ( ₹ in lakhs)
Sr. No. Particulars Quarter Ended Year Ended (Standalone) Year Ended (Consolidated)
31.03.2019 31.12.2018 31.03.2018 31.03.2019 31.03.2018 31.03.2019 31.03.2018
Audited Reviewed Audited Audited Audited Audited Audited
1 Segment Revenue
(a) Treasury Operations 457118 446580 387770 1700192 1677799 1806804 1767457
(b) Wholesale Banking 563757 571604 483976 2069777 1870692 2134735 1926890
(c) Retail Banking 487233 438101 388359 1816190 1436020 1890197 1507243
(d)Other Banking Operations 20350 - 13411 20350 46058 247594 203273
Total Revenue 1528458 1456285 1273516 5606509 5030569 6079330 5404863
2 Segment Results
(a) Treasury Operations 117293 138890 25646 249135 264156 284188 297381
(b) Wholesale Banking (403496) (162802) (388100) (557669) (449085) (531360) (431281)
(c) Retail Banking 187670 184645 32311 683628 144045 698090 159176
(d)Other Banking Operations 14636 - 9483 14636 33594 28459 43817
Total (83897) 160733 (320660) 389730 (7290) 479377 69093
Unallocated Expenditure 69953 86300 80029 319915 271784 325615 277165
Profit before Tax (153850) 74433 (400689) 69815 (279074) 153762 (208072)
Provision for Tax (54713) 27308 (90455) 26463 (35893) 43751 (19362)
Net Profit (99137) 47125 (310234) 43352 (243181) 110011 (188710)
3 Segment Assets
(a) Treasury Operations 22389446 27400925 26809912 22389446 26809912 24321670 27877959
(b) Wholesale Banking 35496645 32115574 31134207 35496645 31134207 36366275 31715604
(c) Retail Banking 18998409 14572219 13011177 18998409 13011177 19636587 13470923
(d)Other Banking Operations - - - - - 425151 667944
(e) Unallocated 1214240 716257 1044681 1214240 1044681 1217511 1048062
Total Assets 78098740 74804975 71999977 78098740 71999977 81967194 74780492
4 Segment Liabilities
(a) Treasury Operations 20927856 25743612 25194064 20927856 25194064 22689801 26141983
(b) Wholesale Banking 33179413 30173102 29257732 33179413 29257732 33926270 29740656
(c) Retail Banking 17758187 13690836 12226986 17758187 12226986 18319064 12632081
(d)Other Banking Operations 0 0 - - - 396625 626350
(e) Unallocated 1134974 672935 981718 1134974 981718 1135822 982799
Total Liabilities 73000430 70280485 67660500 73000430 67660500 76467582 70123869
5 Capital Employed
(a) Treasury Operations 1461590 1657313 1615848 1461590 1615848 1631869 1735976
(b) Wholesale Banking 2317232 1942472 1876475 2317232 1876475 2440005 1974948
(c) Retail Banking 1240222 881383 784191 1240222 784191 1317523 838842
(d)Other Banking Operations - - - - - 28526 41594
(e) Unallocated 79266 43322 62963 79266 62963 81689 65263
Total Capital Employed 5098310 4524490 4339477 5098310 4339477 5499612 4656623
Part- B : Geographic Segments
Sr. No. Particulars Quarter Ended Year Ended (Standalone) Year Ended (Consolidated)
31.03.2019 31.12.2018 31.03.2018 31.03.2019 31.03.2018 31.03.2019 31.03.2018
Audited Reviewed Audited Audited Audited Audited Audited
1 Revenue
(a) Domestic 1364800 1289001 1147047 4980379 4534256 5300341 4779777
(b) International 163658 167284 126469 626130 496313 778989 625086
Total 1528458 1456285 1273516 5606509 5030569 6079330 5404863
2 Assets
(a) Domestic 66968171 59438470 55328716 66968171 55328716 68530203 56908076
(b) International 11130569 15366505 16671261 11130569 16671261 13436991 17872416
Total 78098740 74804975 71999977 78098740 71999977 81967194 74780492

SEBI Format

(in lakhs)

Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
Interest earned (a)+(b)+(c)+(d) 1294171 1207834 1130324 3665993 3260928 4364854
Interest /discount on advances / bills 900044 821801 753268 2520456 2161293 2906982
Income on investments 331578 321984 272071 953348 763945 1042016
Interest on balances with Reserve Bank of India and other inter bank funds 39894 45990 42854 130057 203210 241479
Others 22655 18059 62131 62132 132480 174377
Other Income 162114 135161 167304 412058 496125 665715
Total Income (1 + 2) 1456285 1342995 1297628 4078051 3757053 5030569
Interest Expended 819848 758580 690921 2304308 2108977 2812677
Operating Expenses (a)+ (b)+ (C) 282584 276224 241696 811140 714070 1017337
Employees cost 130353 122170 111042 362613 333838 460687
Rent Taxes & Lighting 24791 28034 25737 75594 74265 101108
Other operating expenses 127440 126020 104917 372933 305967 455542
Total Expenditure (4+5) excluding provisions and contingencies 1102432 1034804 932617 3115448 2823047 3830014
Operating Profit (3-6) before Provisions and Contingencies 353853 308191 365011 962603 934006 1200555
Provisions (other than tax) and Contingencies 279420 242954 342651 738938 812391 1479629
of which provisions for Non-performing Asset 341602 146656 315528 664230 715919 1421172
Exceptional Items - - - - - -
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 74433 65237 22360 223665 121615 (279074)
Provision for Taxes 27308 22699 11182 81176 54562 (35893)
Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 47125 42538 11178 142489 67053 (243181)
Extraordinary items (net of tax expenses) - - - - - -
Net Profit (+) / Loss (-) for the period (12-13) 47125 42538 11178 142489 67053 (243181)
Paid-up equity share capital (Face Value of ₹2 each) 53036 53036 46209 53036 46209 53036
Reserve excluding Revaluation Reserve - - - - - 3970807
Analytical Ratios
Percentage of shares held by Government of India 63.74 63.74 58.70 63.74 58.70 64.03
Capital Adequacy Ratio(%) -Basel-III 11.67 11.88 11.55 11.67 11.55 12.13
CET 1 Ratio (%) 8.65 9.05 8.28 8.65 8.28 9.23
Additional Tier 1 Ratio (%) 1.21 1.20 1.24 1.21 1.24 1.23
Earnings Per Share
Basic and diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [ in ₹.] 1.78 1.61 0.49 5.39 2.91 (10.53)
NPA Ratios
Gross NPA 5318428 5512137 4848044 5318428 4848044 5648039
Net NPA 1913050 2105922 1985215 1913050 1985215 2348265
% of Gross NPA 11.01 11.78 11.31 11.01 11.31 12.26
% of Net NPA 4.26 4.86 4.97 4.26 4.97 5.49
Return on Assets (annualized) % 0.25 0.23 0.07 0.26 0.13 (0.34)

Notes forming part of the un-audited financial results for the Quarter/ Nine Months Ended 31st December 2018

The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on January 29, 2019. The same have been subjected to a limited review by the Statutory Central Auditors of the Bank.

The above results for the quarter ended December 31, 2018, have been prepared, following the same accounting policies as those followed in the annual financial statements for the year ended March 31, 2018.

The financial results for the quarter and nine months ended December 31, 2018, have been arrived at after considering provision for Non-Performing Assets, Standard Assets, Standard Derivative Exposures, Restructured Assets and depreciation / Provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. As a consistent practice, the Bank has made a provision of 20% on the Secured Sub-standard Advances as against the regulatory requirement of 15%. In addition to the above, provision is made on non-fund based facilities of NPA borrowers by applying 50% credit conversion factor (CCF). The provision is based on the asset class of the fund based facility of the borrower. Also 100% provision is made on certain class of non-performing retail advances.

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. 80/21.06.201/2015-16 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 limited review by the auditors.

As per RBI directions vide Letter No. DBR.No.BO.15199/21.04.048/2016-17 dated June 23, 2017 and Letter No. DR.No.BP.1906/21.04.049/2017-18 dated August 28, 2017, the Bank during the quarter ended December 31, 2018 has reversed ₹ 4777 lakhs (previous corresponding quarter provided for ₹ 657 lakhs) due to release of provisions. The Bank holds a total provision of ₹ 45616 lakhs (previous corresponding period ₹ 13567 lakhs) in respect of 23 borrower accounts under the provisions of Insolvency and Bankruptcy Code (IBC) and said RBI Directions.

RBI circular DBR.No.BP.BC.113/21.04.048/2017-18 dated June 15, 2018 had granted banks an option to spread provisioning for mark to market (MTM) losses on investments held in AFS and HFT categories equally up to four quarters, commencing with the quarter ended June 30, 2018, the Bank has availed the relaxation permitted. An amount of ₹ 24848.50 lakhs, was carried forward as at the half year ended September 30, 2018. During the quarter the overall portfolio of the bank has a positive MTM as at December 31, 2018 hence no further provision was required. Accordingly, the above circular will not apply to the bank for the quarter.

LCR Disclosure - Q3 2018 - 19 PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (37.5 KB)

Statement of Assets & Liabilities is as under:-

(in lakhs)

Standalone
As on
31st December 2018
As on
31st December 2017
As on
31st March 2018
Reviewed Reviewed Audited
CAPITAL & LIABILITIES
Capital 53036 46209 53036
Reserves and Surplus 4471454 4017502 4286441
Deposits 61056917 57326523 59131482
Borrowings 6733051 4529174 6257197
Other Liabilities and Provisions 2490517 2363019 2271821
T O T A L 74804975 68282427 71999977
ASSETS
Cash and Balances with Reserve Bank of India 2496327 2236257 2269964
Balances with Banks and Money at Call and Short Notice 5575516 6500799 7019774
Investments 18432960 16356695 16318453
Advances 44867941 39938076 42743183
Fixed Assets 528912 548076 536739
Other Assets 2903319 2702524 3111864
T O T A L 74804975 68282427 71999977

The Bank has made an additional provision over and above the IRAC norms/ Policy of the Bank amounting to ₹919.45 crores in certain specific accounts as a conservative approach to provide for the inherent weakness in these accounts

RBI vide Circular no. DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018 permitted banks to continue the exposure to MSME borrowers to be classified as standard assets where the dues between September 1, 2017 and December 31, 2018 are paid not later than 180 days for their respective original due dates. Accordingly, the Bank has retained MSME exposure of ₹ 193896 lakhs as standard asset as on December 31, 2018. In accordance with the provisions of the circular, the Bank has not recognised interest income of ₹ 555 lakhs and is maintaining a standard asset provision of ₹ 9695 lakhs as on December 31, 2018 in respect of such borrowers.

On January 2, 2019 the Board of Directors of the Bank and the Board of Directors of Vijaya Bank and Dena Bank at their respective meetings, approved amalgamation of Vijaya Bank and Dena Bank with the Bank. The Boards of respective banks have also approved the fair share swap ratio of 402 equity shares of FV ₹2/- each of Bank of Baroda to every 1000 shares of FV ₹10/- each of Vijaya Bank and 110 equity shares of FV ₹2/- each of Bank of Baroda for every 1000 shares of FV ₹10/- each of Dena Bank. The Government of India through a gazette notification F.No.1/1/2017-BOA dated January 2, 2019 approved the scheme of amalgamation after consulting reserve Bank of India. The bank has already intimated the stock exchanges the above information. The amalgamation will be effective from April 1, 2019 subject to statutory/ regulatory compliances/ clearances. The proposed transaction does not have any impact on the current financial results for the financial position of the Bank as at December 31, 2018.

The Board of Directors and the Shareholders of the bank have approved the Equity Share Purchase Scheme (ESPS) offer to the permanent employees of the bank subject to approval from regulatory authorities/ Government of India. The Board and the shareholders have approved offer of 10 crores equity shares to the employees at 25% discount of the 2 weeks volume weighted average price of the shares at NSE as at the record date. The record date is yet to be fixed by the bank.

The Bank during the quarter ended December 31, 2018 has issued two tranches of BASEL-III compliant Tier-II bonds viz., Series XVIII & XIX and have raised ₹ 971.50 crores & ₹ 240 crores respectively.

Provisioning Coverage Ratio is 73.47% as on December 31, 2018. (December 31, 2017: 68.03%)

Details of Investor's complaints for the quarter ended December 31, 2018: Pending at Beginning: 0; Received: 210; Disposed off: 210; Closing: 0.

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

Segment reporting for the Quarter/ Nine Months Ended 31st December 2018

Part A-Business Segments

(in lakhs)

Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Segment Revenue
(a) Treasury Operations 446580 405721 412537 1243074 1290029 1677799
(b) Wholesale Banking 571604 466680 452734 1506020 1386716 1870692
(c) Retail Banking 438101 470594 399710 1328957 1047661 1436020
(d)Other Banking Operations - - 32647 - 32647 46058
Total Revenue 1456285 1342995 1297628 4078051 3757053 5030569
2 Segment Results
(a) Treasury Operations 138890 (8364) 68972 131842 238510 264156
(b) Wholesale Banking (162802) (64894) (29596) (154173) (60985) (449085)
(c) Retail Banking 184645 213492 23188 495958 111734 144045
(d)Other Banking Operations - - 24111 - 24111 33594
Total 160733 140234 86675 473627 313370 (7290)
Unallocated Expenditure 86300 74997 64316 249962 191755 271784
Profit before Tax 74433 65237 22359 223665 121615 (279074)
Provision for Tax 27308 22699 11181 81176 54562 (35893)
Net Profit 47125 42538 11178 142489 67053 (243181)
3 Segment Assets
(a) Treasury Operations 27400925 28285360 26103465 27400925 26103465 26809912
(b) Wholesale Banking 32115574 31120274 28437821 32115574 28437821 31134207
(c) Retail Banking 14572219 14084181 12618437 14572219 12618437 13011177
(d)Other Banking Operations - - - - - -
(e) Unallocated 716257 653575 1122704 716257 1122704 1044681
Total Assets 74804975 74143390 68282427 74804975 68282427 71999977
4 Segment Liabilities
(a) Treasury Operations 25743612 26559723 24549962 25743612 24549962 25194064
(b) Wholesale Banking 30173102 29221685 26745393 30173102 26745393 29257732
(c) Retail Banking 13690836 13224931 11867473 13690836 11867473 12226986
(d)Other Banking Operations 0 0 - - - -
(e) Unallocated 672935 613702 1055888 672935 1055888 981718
Total Liabilities 70280485 69620041 64218716 70280485 64218716 67660500
5 Capital Employed
(a) Treasury Operations 1657313 1725637 1553503 1657313 1553503 1615848
(b) Wholesale Banking 1942472 1898589 1692428 1942472 1692428 1876475
(c) Retail Banking 881383 859250 750964 881383 750964 784191
(d)Other Banking Operations - - - - - -
(e) Unallocated 43322 39873 66816 43322 66816 62963
Total Capital Employed 4524490 4523349 4063711 4524490 4063711 4339477

Part- B : Geographic Segments

Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Revenue
(a) Domestic 1289001 1191159 1171113 3615579 3387209 4534256
(b) International 167284 151836 126515 462472 369844 496313
Total 1456285 1342995 1297628 4078051 3757053 5030569
2 Assets
(a) Domestic 59438470 57884096 51944946 59438470 51944946 55328716
(b) International 15366505 16259294 16337481 15366505 16337481 16671261
Total 74804975 74143390 68282427 74804975 68282427 71999977
Vikramaditya Singh Khichi Shanti Lal Jain Papia Sengupta P S Jayakumar
Executive Director Executive Director Executive Director Managing Director & CEO
Place : Mumbai
Date : 29th January 2019

SEBI Format

(in lakhs)

Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
Interest earned (a)+(b)+(c)+(d) 1294171 1207834 1130324 3665993 3260928 4364854
Interest /discount on advances / bills 900044 821801 753268 2520456 2161293 2906982
Income on investments 331578 321984 272071 953348 763945 1042016
Interest on balances with Reserve Bank of India and other inter bank funds 39894 45990 42854 130057 203210 241479
Others 22655 18059 62131 62132 132480 174377
Other Income 162114 135161 167304 412058 496125 665715
Total Income (1 + 2) 1456285 1342995 1297628 4078051 3757053 5030569
Interest Expended 819848 758580 690921 2304308 2108977 2812677
Operating Expenses (a)+ (b)+ (C) 282584 276224 241696 811140 714070 1017337
Employees cost 130353 122170 111042 362613 333838 460687
Rent Taxes & Lighting 24791 28034 25737 75594 74265 101108
Other operating expenses 127440 126020 104917 372933 305967 455542
Total Expenditure (4+5) excluding provisions and contingencies 1102432 1034804 932617 3115448 2823047 3830014
Operating Profit (3-6) before Provisions and Contingencies 353853 308191 365011 962603 934006 1200555
Provisions (other than tax) and Contingencies 279420 242954 342651 738938 812391 1479629
of which provisions for Non-performing Asset 341602 146656 315528 664230 715919 1421172
Exceptional Items - - - - - -
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 74433 65237 22360 223665 121615 (279074)
Provision for Taxes 27308 22699 11182 81176 54562 (35893)
Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 47125 42538 11178 142489 67053 (243181)
Extraordinary items (net of tax expenses) - - - - - -
Net Profit (+) / Loss (-) for the period (12-13) 47125 42538 11178 142489 67053 (243181)
Paid-up equity share capital (Face Value of ₹2 each) 53036 53036 46209 53036 46209 53036
Reserve excluding Revaluation Reserve - - - - - 3970807
Analytical Ratios
Percentage of shares held by Government of India 63.74 63.74 58.70 63.74 58.70 64.03
Capital Adequacy Ratio(%) -Basel-III 11.67 11.88 11.55 11.67 11.55 12.13
CET 1 Ratio (%) 8.65 9.05 8.28 8.65 8.28 9.23
Additional Tier 1 Ratio (%) 1.21 1.20 1.24 1.21 1.24 1.23
Earnings Per Share
Basic and diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [ in ₹.] 1.78 1.61 0.49 5.39 2.91 (10.53)
NPA Ratios
Gross NPA 5318428 5512137 4848044 5318428 4848044 5648039
Net NPA 1913050 2105922 1985215 1913050 1985215 2348265
% of Gross NPA 11.01 11.78 11.31 11.01 11.31 12.26
% of Net NPA 4.26 4.86 4.97 4.26 4.97 5.49
Return on Assets (annualized) % 0.25 0.23 0.07 0.26 0.13 (0.34)

Notes forming part of the un-audited financial results for the Quarter/ Nine Months Ended 31st December 2018

The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on January 29, 2019. The same have been subjected to a limited review by the Statutory Central Auditors of the Bank.

The above results for the quarter ended December 31, 2018, have been prepared, following the same accounting policies as those followed in the annual financial statements for the year ended March 31, 2018.

The financial results for the quarter and nine months ended December 31, 2018, have been arrived at after considering provision for Non-Performing Assets, Standard Assets, Standard Derivative Exposures, Restructured Assets and depreciation / Provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. As a consistent practice, the Bank has made a provision of 20% on the Secured Sub-standard Advances as against the regulatory requirement of 15%. In addition to the above, provision is made on non-fund based facilities of NPA borrowers by applying 50% credit conversion factor (CCF). The provision is based on the asset class of the fund based facility of the borrower. Also 100% provision is made on certain class of non-performing retail advances.

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. 80/21.06.201/2015-16 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 limited review by the auditors.

As per RBI directions vide Letter No. DBR.No.BO.15199/21.04.048/2016-17 dated June 23, 2017 and Letter No. DR.No.BP.1906/21.04.049/2017-18 dated August 28, 2017, the Bank during the quarter ended December 31, 2018 has reversed ₹ 4777 lakhs (previous corresponding quarter provided for ₹ 657 lakhs) due to release of provisions. The Bank holds a total provision of ₹ 45616 lakhs (previous corresponding period ₹ 13567 lakhs) in respect of 23 borrower accounts under the provisions of Insolvency and Bankruptcy Code (IBC) and said RBI Directions.

RBI circular DBR.No.BP.BC.113/21.04.048/2017-18 dated June 15, 2018 had granted banks an option to spread provisioning for mark to market (MTM) losses on investments held in AFS and HFT categories equally up to four quarters, commencing with the quarter ended June 30, 2018, the Bank has availed the relaxation permitted. An amount of ₹ 24848.50 lakhs, was carried forward as at the half year ended September 30, 2018. During the quarter the overall portfolio of the bank has a positive MTM as at December 31, 2018 hence no further provision was required. Accordingly, the above circular will not apply to the bank for the quarter.

LCR Disclosure - Q3 2018 - 19 PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (37.5 KB)

Statement of Assets & Liabilities is as under:-

(in lakhs)

Standalone
As on
31st December 2018
As on
31st December 2017
As on
31st March 2018
Reviewed Reviewed Audited
CAPITAL & LIABILITIES
Capital 53036 46209 53036
Reserves and Surplus 4471454 4017502 4286441
Deposits 61056917 57326523 59131482
Borrowings 6733051 4529174 6257197
Other Liabilities and Provisions 2490517 2363019 2271821
T O T A L 74804975 68282427 71999977
ASSETS
Cash and Balances with Reserve Bank of India 2496327 2236257 2269964
Balances with Banks and Money at Call and Short Notice 5575516 6500799 7019774
Investments 18432960 16356695 16318453
Advances 44867941 39938076 42743183
Fixed Assets 528912 548076 536739
Other Assets 2903319 2702524 3111864
T O T A L 74804975 68282427 71999977

The Bank has made an additional provision over and above the IRAC norms/ Policy of the Bank amounting to ₹919.45 crores in certain specific accounts as a conservative approach to provide for the inherent weakness in these accounts

RBI vide Circular no. DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018 permitted banks to continue the exposure to MSME borrowers to be classified as standard assets where the dues between September 1, 2017 and December 31, 2018 are paid not later than 180 days for their respective original due dates. Accordingly, the Bank has retained MSME exposure of ₹ 193896 lakhs as standard asset as on December 31, 2018. In accordance with the provisions of the circular, the Bank has not recognised interest income of ₹ 555 lakhs and is maintaining a standard asset provision of ₹ 9695 lakhs as on December 31, 2018 in respect of such borrowers.

On January 2, 2019 the Board of Directors of the Bank and the Board of Directors of Vijaya Bank and Dena Bank at their respective meetings, approved amalgamation of Vijaya Bank and Dena Bank with the Bank. The Boards of respective banks have also approved the fair share swap ratio of 402 equity shares of FV ₹2/- each of Bank of Baroda to every 1000 shares of FV ₹10/- each of Vijaya Bank and 110 equity shares of FV ₹2/- each of Bank of Baroda for every 1000 shares of FV ₹10/- each of Dena Bank. The Government of India through a gazette notification F.No.1/1/2017-BOA dated January 2, 2019 approved the scheme of amalgamation after consulting reserve Bank of India. The bank has already intimated the stock exchanges the above information. The amalgamation will be effective from April 1, 2019 subject to statutory/ regulatory compliances/ clearances. The proposed transaction does not have any impact on the current financial results for the financial position of the Bank as at December 31, 2018.

The Board of Directors and the Shareholders of the bank have approved the Equity Share Purchase Scheme (ESPS) offer to the permanent employees of the bank subject to approval from regulatory authorities/ Government of India. The Board and the shareholders have approved offer of 10 crores equity shares to the employees at 25% discount of the 2 weeks volume weighted average price of the shares at NSE as at the record date. The record date is yet to be fixed by the bank.

The Bank during the quarter ended December 31, 2018 has issued two tranches of BASEL-III compliant Tier-II bonds viz., Series XVIII & XIX and have raised ₹ 971.50 crores & ₹ 240 crores respectively.

Provisioning Coverage Ratio is 73.47% as on December 31, 2018. (December 31, 2017: 68.03%)

Details of Investor's complaints for the quarter ended December 31, 2018: Pending at Beginning: 0; Received: 210; Disposed off: 210; Closing: 0.

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

Segment reporting for the Quarter/ Nine Months Ended 31st December 2018

Part A-Business Segments

(in lakhs)

Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Segment Revenue
(a) Treasury Operations 446580 405721 412537 1243074 1290029 1677799
(b) Wholesale Banking 571604 466680 452734 1506020 1386716 1870692
(c) Retail Banking 438101 470594 399710 1328957 1047661 1436020
(d)Other Banking Operations - - 32647 - 32647 46058
Total Revenue 1456285 1342995 1297628 4078051 3757053 5030569
2 Segment Results
(a) Treasury Operations 138890 (8364) 68972 131842 238510 264156
(b) Wholesale Banking (162802) (64894) (29596) (154173) (60985) (449085)
(c) Retail Banking 184645 213492 23188 495958 111734 144045
(d)Other Banking Operations - - 24111 - 24111 33594
Total 160733 140234 86675 473627 313370 (7290)
Unallocated Expenditure 86300 74997 64316 249962 191755 271784
Profit before Tax 74433 65237 22359 223665 121615 (279074)
Provision for Tax 27308 22699 11181 81176 54562 (35893)
Net Profit 47125 42538 11178 142489 67053 (243181)
3 Segment Assets
(a) Treasury Operations 27400925 28285360 26103465 27400925 26103465 26809912
(b) Wholesale Banking 32115574 31120274 28437821 32115574 28437821 31134207
(c) Retail Banking 14572219 14084181 12618437 14572219 12618437 13011177
(d)Other Banking Operations - - - - - -
(e) Unallocated 716257 653575 1122704 716257 1122704 1044681
Total Assets 74804975 74143390 68282427 74804975 68282427 71999977
4 Segment Liabilities
(a) Treasury Operations 25743612 26559723 24549962 25743612 24549962 25194064
(b) Wholesale Banking 30173102 29221685 26745393 30173102 26745393 29257732
(c) Retail Banking 13690836 13224931 11867473 13690836 11867473 12226986
(d)Other Banking Operations 0 0 - - - -
(e) Unallocated 672935 613702 1055888 672935 1055888 981718
Total Liabilities 70280485 69620041 64218716 70280485 64218716 67660500
5 Capital Employed
(a) Treasury Operations 1657313 1725637 1553503 1657313 1553503 1615848
(b) Wholesale Banking 1942472 1898589 1692428 1942472 1692428 1876475
(c) Retail Banking 881383 859250 750964 881383 750964 784191
(d)Other Banking Operations - - - - - -
(e) Unallocated 43322 39873 66816 43322 66816 62963
Total Capital Employed 4524490 4523349 4063711 4524490 4063711 4339477

Part- B : Geographic Segments

Sr. No. Particulars Quarter Ended Nine Months Ended Year Ended (Standalone)
31.12.2018 30.09.2018 31.12.2017 31.12.2018 31.12.2017 31.03.2018
Reviewed Reviewed Reviewed Reviewed Reviewed Audited
1 Revenue
(a) Domestic 1289001 1191159 1171113 3615579 3387209 4534256
(b) International 167284 151836 126515 462472 369844 496313
Total 1456285 1342995 1297628 4078051 3757053 5030569
2 Assets
(a) Domestic 59438470 57884096 51944946 59438470 51944946 55328716
(b) International 15366505 16259294 16337481 15366505 16337481 16671261
Total 74804975 74143390 68282427 74804975 68282427 71999977
Vikramaditya Singh Khichi Shanti Lal Jain Papia Sengupta P S Jayakumar
Executive Director Executive Director Executive Director Managing Director & CEO
Place : Mumbai
Date : 29th January 2019

SEBI Format

Sr. No. Particulars Quarter Ended Year Ended
30.06.2018 31.03.2018 30.06.2017 31.03.2018
Reviewed Audited Reviewed Audited
1 Interest earned (a)+(b)+(c)+(d) 1163988 1103926 1055271 4364854
(a) Interest /discount on advances / bills 798611 745689 693450 2906982
(b) Income on investments 299786 278071 242696 1042016
(c) Interest on balances with Reserve Bank of India and other inter bank funds 44173 38269 84469 241479
(d) Others 21418 41897 34656 174377
2 Other Income 114783 169590 155115 665715
3 Total Income (1 + 2) 1278771 1273516 1210386 5030569
4 Interest Expended 725880 703700 714776 2812677
5 Operating Expenses (a)+ (b)+ (C) 252332 303267 230799 1017337
(a) Employees cost 110090 126849 101482 460687
(b) Rent Taxes & Lighting 22769 26843 22627 101108
(c) Other operating expenses 119473 149575 106690 455542
6 Total Expenditure (4+5) excluding provisions and contingencies 978212 1006967 945575 3830014
7 Operating Profit (3-6) before Provisions and Contingencies 300559 266549 264811 1200555
8 Provisions (other than tax) and Contingencies 216564 667238 236805 1479629
of which provisions for Non-performing Asset 175972 705253 215669 1421172
9 Exceptional Items 0 0 0 0
10 Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 83995 (400689) 28006 (279074)
11 Provision for Taxes 31169 (90455) 7667 (35893)
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 52826 (310234) 20339 (243181)
13 Extraordinary items (net of tax expenses) 0 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 52826 (310234) 20339 (243181)
15 Paid-up equity share capital (Face Value of Rs. 2 each) 53036 53036 46209 53036
16 Reserve excluding Revaluation Reserve -- -- -- 3970807
17 Analytical Ratios
i) Percentage of shares held by Government of India 63.71 64.03 59.24 64.03
ii) Capital Adequacy Ratio(%) -Basel-III 12.13 12.13 11.81 12.13
a CET 1 Ratio (%) 9.27 9.23 8.83 9.23
b Additional Tier 1 Ratio (%) 1.23 1.23 0.94 1.23
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [ in Rs.] 2.00 (13.44) 0.88 (10.53)
iv) NPA Ratios
(a) Gross NPA 5587481 5648039 4617277 5648039
Net NPA 2238410 2348265 1951931 2348265
(b) % of Gross NPA 12.46 12.26 11.40 12.26
% of Net NPA 5.40 5.49 5.17 5.49
v) Return on Assets (annualized) % 0.29 (1.77) 0.12 (0.34)

Notes forming part of the unaudited financial results for the Quarter Ended June 30, 2018.

The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their respective meetings held on July 27, 2018. The same have been subjected to review by the Statutory Central Auditors of the Bank.

The above results for the quarter ended June 30, 2018 have been prepared, following the same accounting policies as those followed in the annual financial statements for the year ended March 31, 2018.

The figures for quarter ended March 31 2018 are the balancing figures between audited figures in respect of the financial year 2017 -18 and the published year to date figures upto December 31, 2017.

The financial results for the quarter ended June 30, 2018 have been arrived at after considering provision for Non-Performing Assets, Standard Assets, Standard Derivative Exposures, Restructured Assets and depreciation / Provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. As a consistent practice, the Bank has made a provision of 20% on the Secured Sub-standard Advances as against the regulatory requirement of 15%. In addition to the above, provision is made on non-fund based facilities of NPA borrowers by applying 50% credit conversion factor (CCF). The provision is based on the asset class of the fund based facility of the borrower. Also 100% provision is made on certain class of non-performing retail advances.

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. 80/21.06.201/2015-16 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 by the auditors.

During the quarter the bank has made provision of Rs.52243 lakhs (previous corresponding quarter Rs. Nil) in respect of 26 borrower accounts under the provisions of Insolvency and Bankruptcy Code (IBC) and RBI Directions. The total provision made on these accounts is Rs.83180 lakhs (previous corresponding quarter Rs. Nil).

RBI circular DBR.No.BP.BC.113/21.04.048/2017-18 dated June 15, 2018 grants banks an option to spread provisioning for mark to market (MTM) losses on investments held in AFS and HFT categories for the quarter ended June 30, 2018. The circular states that the provisioning for this quarter may be spread equally over up to four quarters, commencing with the current quarter ended June 30, 2018. The Bank has availed the relaxation permitted and has provided an amount of Rs. 12424 lakhs being one fourth of the liability during the quarter ended June 30, 2018. The balance of Rs. 37273 lakhs has been deferred to the subsequent three quarters.

Statement of Assets & Liabilities is as under: -

 Particulars Standalone
As on June 30, 2018 As on June 30, 2017 As on March 31, 2018
  Reviewed Reviewed Audited
CAPITAL & LIABILITIES      
Capital 53036 46209 53036
Reserves and Surplus 4363580 3993738 4286441
Deposits 58148391 57060750 59131482
Borrowings 6401507 2843825 6257197
Other Liabilities and Provisions 2473730 2492994 2271821
T O T A L 71440244 66437516 71999977
ASSETS      
Cash and Balances with Reserve Bank of India 2284817 2203108 2269964
Balances with Banks and Money at Call and Short Notice 6738047 9390002 7019774
Investments 17464283 13797500 16318453
Advances 41451733 37760674 42743183
Fixed Assets 528797 567491 536739
Other Assets 2972567 2718741 3111864
T O T A L 71440244 66437516 71999977

RBI vide letter DBR No. BP 9730/21.04.018/2017-18 dated 27.04.2018 permitted banks to spread the additional liability on account of the enhancement in gratuity limits over four quarters beginning with the quarter ended March 31, 2018. The Bank has availed the relaxation permitted and had provided an amount of Rs.9700 lakhs being one fourth of the liability during the quarter ended March 31, 2018. During the quarter ended June 30, 2018, the bank has charged the entire unamortised gratuity expense of Rs. 29100 Lakhs to the profit and loss account instead of Rs.9700 Lakhs. Consequently, the profit for the quarter is lower by Rs.12620 Lakhs (net of taxes)

Provisioning Coverage Ratio is 69.11% as on June 30, 2018. (June 30, 2017: 66.28%)

Details of Investor's complaints for the quarter ended June 30, 2018: Pending at Beginning: 0; Received: 190; Disposed off: 190; Closing: 0.

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

Liquidity Coverage Ratio (LCR) Disclosure -June 2018

Name of the Bank : Bank of Baroda Daily Averages of Q1 Ending June 2018
(Solo basis)
Daily Averages of Q1 Ending June 2018
(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) 106,255.17 112,891.68
Cash Outflows
2 Retail deposit and deposits from small business customers, of which: 392,066.46 35,402.09 443,896.65 39,736.82
(i) Stable Deposits 76,091.13 3,804.56 93,056.96 4,652.85
(ii) Less Stable Deposits 315,975.34 31,597.53 350,839.68 35,083.97
3 Unsecured wholesale funding, of which: 101,626.86 58,077.53 107,786.01 63,647.22
(i) Operational deposits (all counterparties) - - - -
(ii) Non-operational deposits (all counterparties) 101,626.86 58,077.53 107,786.01 63,647.22
(iii) Unsecured debt - - - -
4 Secured wholesale Funding 15,729.00 - 15,729.00 -
5 Additional requirements, of which 43,549.18 20,774.25 50,976.11 21,830.25
(i) Outflows related to derivative exposures and other collateral requirements 298.04 298.04 298.04 298.04
(ii) Outflows related to loss of funding on debt products - - - -
(iii) Credit and liquidity facilities 43,251.13 20,476.21 50,678.07 21,532.20
6 Other contractual funding obligations 1,278.68 1,278.68 2,567.34 2,567.34
7 Other contingent funding obligations 53,563.63 1,606.91 55,417.72 1,662.53
8 TOTAL CASH OUTFLOWS 607,813.80 117,139.46 676,372.83 129,444.15
Cash Inflows
9 Secured lending (e.g. reverse repos) 3,509.36 - 3,545.13 17.88
10 Inflows from fully performing exposures 36,994.12 34,775.57 44,440.32 39,729.94
11 Other cash inflows 5,427.08 5,427.03 6,787.45 6,122.95
12 TOTAL CASH INFLOWS 45,930.57 40,202.60 54,772.90 45,870.78
Total Adjusted Value Total Adjusted Value
13 TOTAL HQLA 106,255.17 112,891.68
14 TOTAL NET CASH OUTFLOWS 76,936.86 83,573.37
15 LIQUIDITY COVERAGE RATIO (%) 138.11% 135.08%

Segment reporting for the Quarter Ended 30th June 2018

Part A-Business Segments

Sr. No. Particulars Quarter Ended Year Ended
30.06.2018 31.03.2018 30.06.2017 31.03.2018
Reviewed Audited Reviewed Audited
1 Segment Revenue
(a) Treasury Operations 390773 387770 434619 1677799
(b) Wholesale Banking 467736 483976 455492 1870692
(c) Retail Banking 420262 388359 320275 1436020
(d)Other Banking Operations 0 13411 0 46058
Total Revenue 1278771 1273516 1210386 5030569
2 Segment Results
(a) Treasury Operations 1316 25646 71832 264156
(b) Wholesale Banking 73523 (388100) (1991) (449085)
(c) Retail Banking 97821 32311 30390 144045
(d)Other Banking Operations 0 9483 0 33594
Total 172660 (320660) 100231 (7290)
Unallocated Expenditure 88665 80029 72225 271784
Profit before Tax 83995 (400689) 28006 (279074)
Provision for Tax 31169 (90455) 7667 (35893)
Net Profit 52826 (310234) 20339 (243181)
3 Segment Assets
(a) Treasury Operations 27409975 26809912 26521093 26809912
(b) Wholesale Banking 29852237 31134207 27841217 31134207
(c) Retail Banking 13123983 13011177 10961225 13011177
(d)Other Banking Operations - - - -
(e) Unallocated 1054049 1044681 1113981 1044681
Total Assets 71440244 71999977 66437516 71999977
4 Segment Liabilities
(a) Treasury Operations 25715421 25194064 24908392 25194064
(b) Wholesale Banking 28006696 29257732 26148242 29257732
(c) Retail Banking 12312625 12226986 10294693 12226986
(d)Other Banking Operations - - - -
(e) Unallocated 988886 981718 1046242 981718
Total Liabilities 67023628 67660500 62397569 67660500
5 Capital Employed
(a) Treasury Operations 1694554 1615848 1612700 1615848
(b) Wholesale Banking 1845541 1876475 1692975 1876475
(c) Retail Banking 811358 784191 666533 784191
(d)Other Banking Operations - - - -
(e) Unallocated 65163 62963 67739 62963
Total Capital Employed 4416616 4339477 4039947 4339477

Part- B : Geographic Segments

Sr. No. Particulars
Quarter Ended Year Ended (Standalone)
30.06.2018 31.03.2018 30.06.2017 31.03.2018
Reviewed Audited Reviewed Audited
1 Revenue



(a) Domestic 1135419 1147047 1086623 4534256
(b) International 143352 126469 123763 496313
Total 1278771 1273516 1210386 5030569
2 Assets



(a) Domestic 56066085 55328716 49582115 55328716
(b) International 15374159 16671261 16855401 16671261
Total 71440244 71999977 66437516 71999977

Notes on Segment Reporting :

As per guidelines of the RBI on compliance with Accounting Standards, the Bank has adopted "Treasury Operations", Wholesale, Retail and "Other Banking Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.

Segment revenue represents revenue from external customers.

Capital employed for each segment has been allocated proportionate to the assets of the respective segment.

Papia Sengupta
Executive Director
Mayank K Mehta
Executive Director
P S Jayakumar
Managing Director & CEO
Ravi Venkatesan
Chairman

Place : Mumbai
Date : 27th July 2018

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