Financial Report 2008-09

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Unaudited Financial Results for the Quarter / Nine Months ended 31st December 2009

Sr. No. Particulars Quarter Ended 31.12.09 Reviewed Quarter Ended 31.12.08 Reviewed Nine Months ended 31.12.09 Reviewed Nine Months ended 31.12.08 Reviewed Year Ended 31.03.09 Audited
1 Interest earned (a)+(b)+(c)+(d) 417697 410800 1234450 1095280 1509158
(a) Interest/disc.on advances/bills 315715 304224 929509 812115 1119736
(b) Income on investments 91317 90848 273093 242617 331067
(c) Interest on balances with Reserve Bank of India and other inter bank funds 10200 11137 29887 32063 40146
(d) Others 465 4591 1961 8485 18209
2 Other Income 65965 84649 195802 180901 266264
3 Total Income (1 + 2) 483662 495449 1430252 1276181 1775422
4 Interest Expended 257574 264616 814997 730018 996817
5 Operating Expenses (a) + (b) 99593 96269 284607 255612 357606
a) Employees cost 62917 66727 181909 171345 234813
b) Other operating expenses 36676 29542 102698 84267 122793
6 Total Expenditure (4+5) excluding provisions and contingencies 357167 360885 1099604 985630 1354423
7 Operating Profit before Provisions and Contigencies (3-6) 126495 134564 330648 290551 420999
8 Provisions (other than tax) and Contingencies 24249 35010 31987 75232 96206
9 Exceptional Items 0 6907 0 9501 9501
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 102246 106461 298661 224820 334294
11 Tax expenses 18997 35624 83456 77369 111574
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 83249 70837 215205 147451 222720
13 Extraordinary items (net of tax expenses) - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 83249 70837 215205 147451 222720
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1102166 916144 1102166 916144 1102166
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 14.30 12.75 14.30 12.75 12.88
As per Basel-II 14.65 13.20 14.65 13.20 14.05
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 22.85 19.45 59.08 40.48 61.14
iv) NPA Ratios
a) Gross NPA 226027 192142 226027 192142 184292
Net NPA 48768 47258 48768 47258 45115
b) % of Gross NPA 1.43 1.50 1.43 1.50 1.27
% of Net NPA 0.31 0.37 0.31 0.37 0.31
c) Return on Assets 1.36 1.45 1.20 1.04 1.09
18 Public Shareholding
- No. of shares 168266500 168266500 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding ** 196000000 196000000 196000000 196000000 196000000
a) Pledged/Encumbered
- Number of shares -- -- -- -- --
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) -- -- -- -- --
- Percentage of share (as a % of the total share capital of the company) -- -- -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000 196000000 196000000
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00 100.00 100.00
- Percentage of share (as a % of the total share capital of the company) 53.81 53.81 53.81 53.81 53.81

Notes forming part of the financial results for the Quarter Ended 30.06.09.

  • The above financial results have been approved by the Board at its meeting held on 27.01.2010. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter/ Nine months ended 31.12.2009 as compared to those followed in the preceeding financial year 2008-09.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable, other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • The Authorised capital of the bank stands increased from Rs.1500 crs. to Rs.3000 crs. as per notification No.S.O.3123 published in the Official Gazette dated 21.11.2009.
  • The financial results for the quarter ended 31.12.09 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms isued by RBI.
  • Provision for taxes (including Deferred tax and Wealth tax) and Provision for contingencies including for employee benefits have been considered on estimated basis.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c during the quarter, on proportionate basis of the Transitional liability of Rs.901crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation.The balance amount of Rs.405.45 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 650crores has been made on estimated basis upto Dec-09, of which Rs.75 crores is made during the quarterended Dec.09 and Rs.225 crs. for the Nine months ended December 09.
  • In terms of Agriculture debt waiver and relief Scheme 2008, framed by the Govt. of India, the bank has receivede Rs.329.93 crores upto 31st December 2009 from RBI against final claim of Rs.505.19 crores as certified by the Statutory Central Auditors of the Bank under Debt Waiver Scheme.
  • During the quarter, the bank has raised Tier I capital of Rs.900 crores by way Innovative perpetual bonds.
  • Auditors qualifications for the year ended 31st March 2009 have been dealt with as per Note no.3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 66
    • Disposed off during the quarter 66
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

Segment Reporting For The Quarter / Nine Months Ended 31st December, 2009

Part A - Business Segments

Sr. No. Particulars Quarter Ended 31.12.09 Reviewed Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.09 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.09 Audited
1 Segment Revenue
(a) Treasury Operations 110790 127370 341975 325449 444229
(b) Wholesale Banking 183726 158553 542342 390020 524737
(c) Retail Banking 127447 127600 352155 375332 538310
(d) Other Banking Operations # 61699 88833 193780 194881 277648
Total Revenue 483662 502356 1430252 1285682 1784924
2 Segment Results
(a) Treasury Operations 17861 55688 85986 63824 101957
(b) Wholesale Banking 12553 16570 104677 48572 84522
(c) Retail Banking 19401 42205 55305 131179 140650
(d) Other Banking Operations 107275 37924 195678 111032 176939
Total 157090 152387 441646 354607 504068
Unallocated expenditure 54844 45926 142985 129787 169774
Profit before Tax 102246 106461 298661 224820 334294
Provision for Tax 18997 35624 83456 77369 111574
Net Profit 83249 70837 215205 147451 222720
3 Capital Employed
(a) Treasury Operations 387869 359168 387869 359168 347080
(b) Wholesale Banking 442838 352036 442838 352036 322525
(c) Retail Banking 256377 243449 256377 243449 280224
(d) Other Banking Operations 392631 280675 392631 280675 317306
(e) Unallocated 18341 17658 18341 17658 16419
Total Capital Employed 1498056 1252986 1498056 1252986 1283554

#Total revenue of "Other Banking Operations" is exclusive of inter segment revenue which is Rs.339989 lacs for the QE Dec-09 (Rs.293800 lacs for QE Dec-08).

Part B - Geographic Segments

Sr. No. Particulars Quarter Ended 31.12.09 Reviewed Quarter Ended 31.12.08 Reviewed Nine Months Ended 31.12.09 Reviewed Nine Months Ended 31.12.08 Reviewed Year Ended 31.03.09 Audited
1 Revenue
(a) Domestic 422375 433136 1243757 1112214 1546520
(b) International 61287 69220 186495 173468 238404
Total 483662 502356 1430252 1285682 1784924
2 Assets
(a) Domestic 18934276 15981096 18934276 15981096 17710626
(b) International 6101122 4036204 6101122 4036204 5030047
Total 25035398 20017300 25035398 20017300 22740673

Notes on Segment Reporting

  • As per guidelines of RBI on compliance with Accounting Standards, 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.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 27.01.2010		 N. S. Srinath
Executive Director		 R K Bakshi
Executive Director		 M D Mallya
Chairman & Managing Director

Unaudited Financial Results for the Quarter / Half Year Ended 30th September, 2009

Sr. No. Particulars Quarter Ended 30.09.09 Reviewed Quarter Ended 30.09.08 Reviewed Half Year Ended 30.09.09 Reviewed Half Year Ended 30.09.08 Reviewed Year Ended 31.03.09 Audited
1 Interest earned (a)+(b)+(c)+(d) 413542 355098 816753 684480 1509158
(a) Interest /disc.on advances/bills 310135 268918 613794 507891 1119736
(b) Income on investments 92753 72648 181776 151769 331067
(c) Interest on balances with Reserve Bank of India and other inter bank funds 10123 11399 19687 20926 40146
(d) Others 531 2133 1496 3894 18209
2 Other Income 59533 47592 129837 98846 266264
3 Total Income (1 + 2) 473075 402690 946590 783326 1775422
4 Interest Expended 274682 241721 557423 465402 996817
5 Operating Expenses (a) + (b) 95234 82406 185014 159343 357606
a) Employees cost 59575 52346 118992 104618 234813
b) Other operating expenses 35659 30060 66022 54725 122793
6 Total Expenditure (4+5) excluding provisions and contingencies 369916 324127 742437 624745 1354423
7 Operating Profit before Provisions and Contigencies (3-6) 103159 78563 204153 158581 420999
8 Provisions (other than tax) and Contingencies 11633 18191 7738 40222 96206
9 Exceptional Items - - - - 9501
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 91526 60372 196415 118359 334294
11 Tax expenses 28108 20843 64459 41745 111574
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 63418 39529 131956 76614 222720
13 Extraordinary items (net of tax expenses) - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 63418 39529 131956 76614 222720
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1102166 916144 1102166 916144 1102166
17 Analytical Ratios
i) Percentage of shares held by Government of India 53.81 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel-I 13.99 12.86 13.99 12.86 12.88
As per Basel-II 14.67 12.57 14.67 12.57 14.05
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 17.41 10.85 36.23 21.03 61.14
iv) NPA Ratios
a) Gross NPA 195659 195439 195659 195439 184292
Net NPA 40532 50924 40532 50924 45115
b) % of Gross NPA 1.30 1.62 1.30 1.62 1.27
% of Net NPA 0.27 0.43 0.27 0.43 0.31
c) Return on Assets 1.07 0.84 1.13 0.83 1.09
18 Public Shareholding
- No. of shares 168266500 168266500 168266500 168266500 168266500
- Percentage of shareholding 46.19 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding ** 196000000 196000000 196000000 196000000 196000000
a) Pledged/Encumbered
- Number of shares -- -- -- -- --
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) -- -- -- -- --
- Percentage of share (as a % of the total share capital of the company) -- -- -- -- --
b) Non-encumbered
- Number of shares 196000000 196000000 196000000 196000000 196000000
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00 100.00 100.00
- Percentage of share (as a % of the total share capital of the company) 53.81 53.81 53.81 53.81 53.81

Notes forming part of the financial results for the Quarter Ended 30.06.09.

  • The above financial results have been approved by the Board at its meeting held on 28.10.2009. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 30.09.2009 as compared to those followed in the preceeding financial year 2008-09.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable, other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • In terms of RBI Circular No. DBOD.BP.BC.No. 133/21.04.018/2008-09 dated May 11, 2009, unreconciled credit entries of Nostro / Mirror accounts upto 31.03.2002 amounting to Rs. 8.45 crores have been included in 'Other Income".
  • The financial results for the quarter ended 30.09.09 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms isued by RBI.
  • Provision for taxes (including Deferred tax and Wealth tax) and Provision for contingencies including for employee benefits have been considered on estimated basis.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c during the quarter, on proportionate basis of the Transitional liability of Rs.901crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. The balance amount of Rs.450.50 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 575 crores has been made on estimated basis upto Sept-09, of which Rs.75 crores is made during the quarter ended Sept.09 and Rs.150 crs. for the half year ended September 09.
  • In terms of Agriculture debt waiver and relief Scheme 2008, framed by the Govt. of India, the bank has received Rs.247.14 crores upto 30th Sept. 2009 from RBI against final claim of Rs.505.19 crores as certified by the Statutory Central Auditors of the Bank under Debt Waiver Scheme.
  • During the quarter, the bank has raised Rs.500 crores by way of Upper Tier-II Bonds. The bank also redeemed Debentures of EBOBHFL of Rs.20 crores during the quarter.
  • Auditors qualifications for the year ended 31st March 2009 have been dealt with as per Note no.3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 61
    • Disposed off during the quarter 61
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.

Segment Reporting For The Quarter Ended 30.09.2009

Part A - Business Segments

Sr. No. Particulars Half year Ended 30.09.09 Reviewed Half year Ended 30.09.08 Reviewed Quarter Ended 30.09.09 Reviewed Quarter Ended 30.09.08 Reviewed Year Ended 31.03.09 Audited
1 Segment Revenue
(a) Treasury Operations 231185 198079 110574 92225 444229
(b) Wholesale Banking 358616 231467 196816 129575 524737
(c) Retail Banking 224708 247732 102264 126908 538310
(d) Other Banking Operations 132082 106048 63421 53982 277648
Total Revenue 946590 783326 473075 402690 1784924
2 Segment Results
(a) Treasury Operations 68125 8136 20949 6675 101957
(b) Wholesale Banking 92124 32002 55581 19509 84522
(c) Retail Banking 35904 88974 16091 39653 140650
(d) Other Banking Operations 88403 61108 39937 35231 176939
Total 284556 190220 132558 101068 504068
Unallocated expenditure 88141 71861 41032 40756 169774
Profit before Tax 196415 118359 91526 60372 334294
Provision for Tax 64459 41745 28108 20843 111574
Net Profit 131956 76614 63418 39529 222720
3 Capital Employed
(a) Treasury Operations 396660 357792 396660 357792 347080
(b) Wholesale Banking 405143 306630 405143 306630 322525
(c) Retail Banking 226809 241567 226809 241567 280224
(d) Other Banking Operations 368710 258383 368710 258383 317306
(e) Unallocated 17802 17854 17802 17854 16419
Total Capital Employed 1415124 1182226 1415124 1182226 1283554

Part B - Geographic Segments

Sr. No. Particulars Half year Ended 30.09.09 Reviewed Half year Ended 30.09.08 Reviewed Quarter Ended 30.09.09 Reviewed Quarter Ended 30.09.08 Reviewed Year Ended 31.03.09 Audited
1 Revenue
(a) Domestic 821382 679078 410218 347028 1546520
(b) International 125208 104248 62857 55662 238404
Total 946590 783326 473075 402690 1784924
2 Assets
(a) Domestic 18207634 15217320 18207634 15217320 17710626
(b) International 5834097 3788400 5834097 3788400 5030047
Total 24041730 19005720 24041730 19005720 22740673

Notes on Segment Reporting

  • As per guidelines of RBI on compliance with Accounting Standards, 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.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 28.10.2009		 R K Bakshi
Executive Director		 M D Mallya
Chairman & Managing Director
Sr. No. Particulars Quarter Ended 30.06.09 Reviewed Quarter Ended 30.06.08 Reviewed Year Ended 31.03.09 Audited
1 Interest Earned (a+b+c+d) 403211 329382 1509158
(a) Interest/discount on advances/bills 303659 238973 1119736
(b) Income on Investments 89023 79121 331067
(c) Interest on balances with RBI and other inter-bank funds 9564 9527 40146
(d) Others 965 1761 18209
2 Other Income 70304 51255 266264
3 Total Income (1+2) 473515 380637 1775422
4 Interest expended 282741 223681 996817
5 Operating Expenses (a+b) 89781 76937 357606
a) Employees cost 59417 52272 234813
b) Other Operating expenses 30364 24665 122793
6 Total Expenditure (4+5) excluding provisions & Contingencies) 372522 300618 1354423
7 Operating Profit before Provisions & Contingencies) (3-6) 100993 80019 420999
8 Provisions (other than tax) & Contingencies -3896 22031 96206
9 Exceptional Items - - 9501
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 104889 57988 334294
11 Tax expenses 36351 20902 111574
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 68538 37086 222720
13 Extraordinary items (net of tax expenses) ) - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 68538 37086 222720
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1102166 916144 1102166
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81
ii) Capital Adequacy Ratio (%)
As per Basel - I 14.09 13.19 12.88
As per Basel - II 14.56 13.04 14.05
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 18.82 10.18 61.14
iv NPA Ratios
a) Gross NPA 206815 209106 184292
Net NPA 37856 57549 45115
b) % of Gross NPA 1.44 1.86 1.27
% of Net NPA 0.27 0.52 0.31
c) Return on Assets 1.19 0.81 1.09
18 Public Shareholding
- No. of shares 168266500 168266400 168266500
- Percentage of shareholding 46.19 46.19 46.19
19 Promoters and promoter group Shareholding **
a) Pledged/Encumbered - - -
- Number of shares - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - -
- Percentage of share (as a % of the total share capital of the company) - -
b) Non-encumbered
- Number of shares - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - -
- Percentage of share (as a % of the total share capital of the company) - -

Notes forming part of the financial results for the Quarter Ended 30.06.09.

  • The above financial results have been approved by the Board at its meeting held on 27/07/2009. The same has been subjected to review by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter ended 30.06.2009 as compared to those followed in the preceeding financial year 2008-09.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.
  • The financial results for the quarter ended 30.06.09 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms isued by RBI. During the quarter, the bank has made an additional provision of Rs.148.13 crores in certain identified Non Performing domestic Advance accounts.
  • Provision for taxes (including Deferred tax and Wealth tax) and Provision for contingencies including for employee benefits have been considered on estimated basis.
  • A sum of Rs.45.05 crores has been charged to Profit and Loss A/c during the quarter, on proportionate basis of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. An amount of Rs.495.55 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 500 crores has been made on estimated basis upto June-09, of which Rs.75 crores is made during the quarter ended Jun-09.
  • In terms of Agriculture debt waiver and relief Scheme 2008, framed by the Govt. of India, the bank has received Rs.208.92 crores upto 30th June 2009 from RBI against final claim of Rs.505.19 crores as certified by the Statutory Central Auditors of the Bank under Debt Waiver Scheme.
  • After obtaining Reserve Bank of India's permission, the bank has netted a sum of Rs. 550.35 crores of Floating Provisions from Gross NPAs to arrive at the reported figure of Net NPAs.
  • During the quarter, the bank has raised Rs.500 crores by way of Upper Tier-II Bonds. The bank also redeemed Lower Tier-II Bonds of Rs.300 crores during the quarter.
  • Auditors qualifications for the year ended 31st March 2009 have been dealt with Note no.3 above.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter Nil
    • Received during the quarter 57
    • Disposed off during the quarter 57
    • Pending at the close of the quarter Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.
Sr. No. Particulars Quarter Ended 30.06.09 (Reviewed) Quarter Ended 30.06.08 (Reviewed) Year Ended 31.03.09 (Reviewed)
1 Segment Revenue
(a) Treasury Operations 120611 105854 444229
(b) Wholesale Banking 161800 101892 524737
(c) Retail Banking 122444 120824 538310
(d) Other Banking Operations 68660 52067 277648
Total Revenue 473515 380637 1784924
2 Segment Results
(a) Treasury Operations 47176 16116 101957
(b) Wholesale Banking 36543 9540 84522
(c) Retail Banking 19813 5146 140650
(d) Other Banking Operations 48466 54306 176939
Total 151998 85108 504068
Unallocated expenditure 47109 27120 169774
Profit before Tax 104889 57988 334294
Provision for Tax 36351 20902 111574
Net Profit 68538 37086 222720
3 Capital Employed
(a) Treasury Operations 378554 385217 347080
(b) Wholesale Banking 389021 302962 322525
(c) Retail Banking 210064 382581 280224
(d) Other Banking Operations 358069 53727 317306
(e) Unallocated 15731 17584 16419
Total Capital Employed 1351439 1142071 1283554

Part B - Geographic Segments

Sr. No. Particulars Quarter Ended 30.06.09 (Reviewed) Quarter Ended 30.06.08 (Reviewed) Year Ended 31.03.09 (Audited)
1 Revenue
Domestic 411164 332050 1546520
International 62351 48587 238404
Total 473515 380637 1784924
2 Assets
Domestic 17864881 14812567 17710626
International 5626727 3714932 5030047
Total 23491608 18527499 22740673

Notes on Segment Reporting

  • As per guidelines of RBI on compliance with Accounting Standards, 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.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 27.07.2009		 R K Bakshi
Executive Director		 V Santhanaraman
Executive Director		 M D Mallya
Chairman & Managing Director
Sr. No.   Particulars Quarter Ended 31.03.09 (Audited) Quarter Ended 31.03.08 (Audited) Year Ended 31.03.09 (Audited) Year Ended 31.03.08 (Audited)
1 Interest Earned (a+b+c+d) 413878 333107 1509158 1181347
(a) Interest/discount on advances/bills 307621 232673 1119736 841297
(b) Income on Investments 88450 76806 331067 273729
(c) Interest on balances with RBI and other inter-bank funds 8083 17427 40146 55366
(d) Others 9724 6201 18209 10955
2 Other Income 85363 55463 266264 205104
3 TOTAL INCOME (1+2) 499241 388570 1775422 1386451
4 Interest expended 266799 230257 996817 790167
5 Operating Expenses (a+b) 101994 86868 357606 303429
a) Employees cost 63468 52115 234813 190376
b) Other Operating expenses 38526 34753 122793 113053
6 TOTAL EXPENDITURE (4+5) {Excluding Provisions & Contingencies) 368793 317125 1354423 1093596
7 Operating Profit before Provisions & Contingencies) (3-6) 130448 71445 420999 292855
8 Provisions (other than tax) & Contingencies 20974 32495 96206 72140
9 Exceptional Items - - 9501 -
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9) 109474 38950 334294 220715
11 Tax expenses 34205 11306 111574 77163
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 75269 27644 222720 143552
13 Extraordinary items (net of tax expenses) ) - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 75269 27644 222720 143552
15 Paid-up equity share capital (Face Value of Rs.10 each) 36553 36553 36553 36553
16 Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year) 1102166 916144 1102166 916144
17 Analytical Ratios
i) Percentage of Shares held by Government of India 53.81 53.81 53.81 53.81
ii) Capital Adequacy Ratio {%)
As per Basel - I 12.88 12.91 12.88 12.91
As per Basel - II 14.05 12.94 14.05 12.94
iii Earning Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 20.66 7.59 61.14 39.41
iv NPA Ratios
a) Gross NPA 184292 198138 184292 198138
Net NPA 45115 49355 45115 49355
b) % of Gross NPA 1.27 1.84 1.27 1.84
% of Net NPA 0.31 0.47 0.31 0.47
c) Return on Assets 1.41 0.65 1.09 0.89
18 Public Shareholding
Number of shares 168266500 168266400 168266500 168266400
Percentage of shareholding 46.19 46.19 46.19 46.19
19 Promoters and promoter group Shareholding **
a) Pledged/Encumbered - - - -
- Number of shares - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - -
- Percentage of share (as a % of the total share capital of the company) - -
b) Non-encumbered
- Number of shares - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - -
- Percentage of share (as a % of the total share capital of the company) - -

Notes forming part of the financial results for the Quarter / Year Ended 31.03.2009.

  • The above financial results have been approved by the Board at its meeting held on 27/04/2009. The same has been subjected to audit by the Statutory Central Auditors, as per the Listing Agreements.
  • There has been no change in the Accounting Policies adopted during the quarter /year ended 31.03.2009 as compared to those followed in the preceeding financial year 2007-08.
  • Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
  • The financial results for the quarter / full year ended 31.03.09 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) have been made as per Income Tax and Provision for contingencies including for employee benefits considered based on acturial valuation.
  • A sum of Rs.180.20 crores has been charged to Profit and Loss A/c during the year on proportionate basis, of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. An amount of Rs.540.60 crores is to be charged proportionately by the end of March 2012.
  • The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 425 crores has been made on estimated basis, as employee cost, of which Rs.325 crores is made during the year (Rs.75 crs during the quarter Mar.09).
  • In terms of Agricultural Debt Waiver and Debt Relief Scheme 2008, framed by the Government of India, the Bank has received first installment of Rs.208.91 crores from Reserve Bank of India against Rs.506.04 crores being loans eligible under debt waiver scheme.
  • Exceptional items Rs.95.01 crores represents profit on winding up of bank's Subsidiary Bank of Baroda (Hongkong)Ltd (Rs69.07 crores) and Profit on sale of 51% holding in BOB AMC Ltd (Rs. 25.94 crores) during the year.
  • During the year 2008-09, the bank has issued Rs.1800.20 crores (Previous year Rs.2703.62 crores including US $ 300 mn- Rs.1203.62 crores by way of MTN Bonds). The bank also redeemed Rs.409.10 crores during the year.
  • During the year the Bank has invested Rs.113.26 crores in Baroda (Newzealand) Ltd., a subsidiary of the Bank.
  • Auditors qualifications for the year ended 31st March 2008 have been dealt with Note no.3 above.
  • The Board has recommended a dividend @ 90% on equity share capital (Rs.9/- per share) for the year '2008-09, subject to approval by members.
  • Status of Investor's complaints :
    • Pending at the beginning of the quarter : Nil
    • Received during the quarter : 55
    • Disposed off during the quarter : 55
    • Pending at the close of the quarter : Nil
  • The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.
Sr. No. Particulars Quarter Ended 31.03.09 (Audited) Year Ended 31.03.09 (Audited) Year Ended 31.03.08 (Audited)
1 Segment Revenue
(a) Treasury Operations 118779 444229 357698
(b) Wholesale Banking 134717 524737 415659
(c) Retail Banking 162978 538310 396040
(d) Other Banking Operations 82767 277648 217054
Total Revenue 499241 1784924 1386451
2 Segment Results
(a) Treasury Operations 38133 101957 78879
(b) Wholesale Banking 35950 84522 17514
(c) Retail Banking 9471 140650 93737
(d) Other Banking Operations 65907 176939 150022
Total 149461 504068 340152
Unallocated expenditure 39987 169774 119437
Profit before Tax 109474 334294 220715
Provision for Tax 34205 111574 77163
Net Profit 75269 222720 143552
3 Capital Employed
Treasury Operations 347080 347080 350171
Wholesale Banking 322525 322525 320138
Retail Banking 280224 280224 199489
Other Banking Operations 317306 317306 218743
Unallocated 16419 16419 15852
Total Capital Employed 1283554 1283554 1104393

Part B - Geographic Segments

Sr. No. Particulars Quarter Ended 31.03.09 (Audited) Year Ended 31.03.09 (Audited) Year Ended 31.03.08 (Audited)
1 Revenue
Domestic 434305 1546520 1189514
International 64936 238404 196937
Total 499241 1784924 1386451
2 Assets
Domestic 17710626 17710626 14252003
International 5030047 5030047 3707949
Total 22740673 22740673 17959952

Notes on Segment Reporting

  • As per guidelines of RBI on compliance with Accounting Standards, 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.
  • In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
  • Segment revenue represents revenue from external customers.
  • Capital employed for each segment has been allocated proportionate to the assets of the segment.
Place : Mumbai
Date : 27.04.2009		 R K Bakshi
Executive Director		 V Santhanaraman
Executive Director		 M D Mallya
Chairman & Managing Director

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