2018-19 वित्तीय रिपोर्ट
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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).
- Quantitative Disclosure
(87.8 KB) - Qualitative Disclosure (152 KB)
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 (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 (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
