Financial Report 2015-16

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Un-audited Financial Results (Standalone) for the Quarter/ Nine Months Ended 31st December, 2016

Sr. No. Particulars Quarter Ended 31.12.2016 Reviewed Quarter Ended 30.09.2016 Reviewed Quarter Ended 31.12.2015 Reviewed Nine Months Ended 31.12.2016 Reviewed Nine Months Ended 31.12.2015 Reviewed Year ended 31.03.2016 Audited
1 Interest earned (a)+(b)+(c)+(d) 1040608 1048517 1061404 3132477 3304689 4406127
(a) Interest /discount on advances/bills 673647 683974 716925 2073829 2291389 2979623
(b) Income on investments 271859 253289 268587 774644 798387 1067322
(c) Interest on balances with Reserve Bank of India and other inter bank funds 52057 39178 35335 123727 94061 130592
(d) Others 43045 72076 40557 160277 120852 228590
2 Other Income 177496 156143 111291 478078 322418 499886
3 Total Income (1 + 2) 1218104 1204660 1172695 3610555 3627107 4906013
4 Interest Expended 727172 705907 790870 2139322 2363746 3132143
5 Operating Expenses (a) + (b) + (c) 231411 229733 211411 675743 639050 892313
(a) Employees cost 113891 116850 115479 341553 354385 497802
(b) Rent, Taxes & Lighting 22373 25740 20803 68231 61331 86202
(c) Other operating expenses 95147 87143 75129 265959 223334 308309
6 Total Expenditure (4+5) excluding provisions and contingencies 958583 935640 1002281 2815065 3002796 4024456
7 Operating Profit (3-6) before Provisions and Contingencies 259521 269020 170414 795490 624311 881557
8 Provisions (other than tax) and Contingencies 207950 179584 616455 587941 865599 1551365
of which provisions for Non-peforming Asset 163782 163045 647414 525471 888576 1376591
9 Exceptional Items 0 0 0 0 0 0
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 51571 89436 -446041 207549 (241288) (669808)
11 Provision for Taxes 26304 34224 -111837 84708 (24747) (130253)
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 25267 55212 -334204 122841 (216541) (539555)
13 Extraordinary items (net of tax expenses) 0 0 0 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 25267 55212 -334204 122841 (216541) (539555)
15 Paid-up equity share capital (Face Value of Rs. 2 each) 46209 46209 46209 46209 46209 46209
16 Reserve excluding Revaluation Reserve - - - - - 3561068
17 Analytical Ratios
i) Percentage of shares held by Government of India 59.24 59.24 59.24 59.24 59.24 59.24
ii) Capital Adequacy Ratio(%) -Basel-III 12.55 12.94 12.18 12.55 12.18 13.17
a CET 1 Ratio (%) 9.28 10.09 9.04 9.28 9.04 10.29
b Additional Tier 1 Ratio (%) 0.76 0.50 0.53 0.76 0.53 0.50
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 1.10 2.39 (14.50) 5.33 (9.40) (23.89)
iv) NPA Ratios
(a) Gross NPA 4264240 4294925 3893411 4264240 3893411 4052104
Net NPA 1900633 1934195 2180616 1900633 2180616 1940646
(b) % of Gross NPA 11.40 11.35 9.68 11.40 9.68 9.99
% of Net NPA 5.43 5.46 5.67 5.43 5.67 5.06
v) Return on Assets (annualized) % 0.15 0.33 (1.91) 0.24 (0.41) (0.78)

Notes forming part of the un-audited financial results for the Quarter / Nine Months Ended 31st December, 2016

  • The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 10th February, 2017 and approved by the Board of Directors in their meeting held on 10th February, 2017. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
  • The above results for the quarter / nine months ended 31st December 2016 have been prepared, following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
  • The financial results for the quarter / nine months ended 31st Dec 2016 have been arrived at after considering provision for Non-performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advances as against the Regulatory requirement of 15%.
  • On review of NPA advances portfolio, bank has made additional provision of Rs. 161.00 Crs during the quarter, over and above the IRAC norms.
  • In compliance with the RBI Circular DBR.No.BP.BC.34/21.04.132/2016-17 dated 10th November, 2016, "Scheme for Stressed Assets- Revisions", in respect of Standard Facilities under Strategic Debt Restructuring (SDR) and Scheme for Sustainable Structuring of Stressed Assets (S4A), the Bank has, during the quarter ended 31st December, 2016, reversed an amount of Rs.256.13 Crores being unrealized interest in such accounts.
  • In compliance of RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has made a provision of Rs.241.11 Crore being 20% of the existing outstanding envisaged to be converted to term loan of Rs.1205.56 Crore as on 31.12.2016 under food credit availed by State Government of Punjab.
  • In terms of RBI Circular No. FMRD.DIRD.10/14.03.2002/2015-16 dated 19th May, 2016, repo and reverse repo transactions with RBI under LAF/MSF are classified as "Borrowings from RBI"/ "Balances with Banks and Money at Call & Short Notice" with effect from the current quarter, respectively as against the earlier practice of including/ Netting the same under "Investments". Previous period figures have been regrouped and reclassified to conform to current period's classification. The aforesaid change has no impact on the profit of the Bank for the quarter ended 31st December, 2016 or the previous periods.
  • . In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
  • Non Performing Loan Provisioning Coverage Ratio is 64.50 % as on 31st December 2016.
  • Details of Investor's complaints for the quarter ended 31.12.2016: Pending at Beginning: 0; Received: 110; Disposed off:110; Closing:0
    Liquidity Coverage Ratio (LCR) for Quarter ended 31st December, 2016 PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (115 KB)
  • Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Title As on 31st December 2016 Reviewed As on 31st December 2015 Reviewed
Capital 46209 46209
Reserves and Surplus 4059655 3953257
Deposits 58985891 58968720
Borrowings 3182002 3306833
Other Liabilities and Provisions 2421064 2443548
Total 68694821 68718567

Assets

Title As on 31st December 2016 Reviewed As on 31st December 2015 Reviewed
Cash and Balances with Reserve Bank of India 2882355 2256393
Balances with Banks and Money at Call and Short Notice 9758396 10636560
Investments 17823060 14660169
Advances 34996011 38427209
Fixed Assets 600336 302360
Other Assets 2634663 2435876
Tota 68694821 68718567

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

Liquidity Coverage Ratio (LCR) for Quarter ended 31st December, 2016

Part A : Business Segments

Particulars Quarter Ended 31.12.2016 Reviewed Quarter Ended 30.09.2016 Reviewed Quarter Ended 31.12.2015 Reviewed Nine Months Ended 31.12.2016 Reviewed Nine Months Ended 31.12.2015 Reviewed Year ended 31.03.2016 Audited
Segment Revenue
Treasury Operations 471694 416481 394126 1284387 1143923 1553437
Wholesale Banking 433895 475974 539009 1397629 1625264 2186743
Retail Banking 312288 281927 239527 888463 857760 1091807
Other Banking Operations 227 30278 33 40076 160 74026
Total Revenue 1218104 1204660 1172695 3610555 3627107 4906013
Segment Results
Treasury Operations 142759 110583 70043 355634 186828 255375
Wholesale Banking (109411) (42788) (340982) (175176) (272618) (594386)
Retail Banking 84222 57746 (114475) 178210 26740 (147955)
Other Banking Operations (35) 22711 25 29997 125 56938
Total 117535 148252 (385389) 388665 (58925) (430028)
Unallocated Expenditure 65964 58816 60651 181116 182362 239780
Profit before Tax 51571 89436 (446040) 207549 (241287) (669808)
Provision for Tax 26304 34224 (111836) 84708 (24746) (130253)
Net Profit 25267 55212 (334204) 122841 (216541) (539555)
Segmemt Assets
Treasury Operations 30908223 28822704 28363368 30908223 28363368 26412307
Wholesale Banking 26267797 26176036 29410853 26267797 29410853 29353737
Retail Banking 10323086 10137647 10083327 10323086 10083327 10090113
Other Banking Operations 0 0 0 0 0 0
Unallocated 1195715 1063251 861019 1195715 861019 1281490
Total Assets 68694821 66199638 68718567 68694821 68718567 67137647
Segmemt Liabilities
Treasury Operations 29060850 27046233 26712601 29060850 26712601 24830858
Wholesale Banking 24697781 24562691 27699122 24697781 27699122 27596168
Retail Banking 9706079 9512819 9496471 9706079 9496471 9485962
Other Banking Operations 0 0 0 0 0 0
Unallocated 1124247 997718 810907 1124247 810907 1204760
Total Liabilities 64588957 62119461 64719101 64588957 64719101 63117748
Capital Employed
Treasury Operations 1847373 1776471 1650767 1847373 1650767 1581449
Wholesale Banking 1570017 1613345 1711731 1570017 1711731 1757569
Retail Banking 617007 624828 586856 617007 586856 604151
Other Banking Operations 0 0 0 0 0 0
Unallocated 71467 65533 50112 71467 50112 76730
Total Capital Employed 4105864 4080177 3999466 4105864 3999466 4019899

Part B : Geographic Segments

Particulars Quarter Ended 31.12.2016 Reviewed Quarter Ended 30.09.2016 Reviewed Quarter Ended 31.12.2015 Reviewed Nine Months Ended 31.12.2016 Reviewed Nine Months Ended 31.12.2015 Reviewed Year ended 31.03.2016 Audited
Revenue
Domestic 1090973 1075134 1049316 3225434 3247279 4397454
International 127131 129526 123379 385121 379828 508559
Total 1218104 1204660 1172695 3610555 3627107 4906013
Assets
Domestic 49815362 44955635 46025600 49815362 46025600 44388112
International 18879459 21244003 22692967 18879459 22692967 22749536
Total 68694821 66199638 68718567 68694821 68718567 67137648

Notes on Segment Reporting :

  • As per guidelines of 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 segment.
  • The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Papia Sengupta
Executive Director		 Ashok Kumar Garg
Executive Director		 Mayank K Mehta
Executive Director		 P S Jayakumar
Managing Director & CEO		 Ravi Venkatesan
Chairman

Place : Mumbai
Date : 10.02.2017

Un-audited Financial Results (Standalone) for the Quarter/ Half Year Ended 30th September, 2016

Sr. No. Particulars Quarter Ended 30.09.2016 Reviewed Quarter Ended 30.06.2016 Reviewed Quarter Ended 30.09.2015 Reviewed Half Year Ended 30.09.2016 Reviewed Half Year Ended 30.09.2015 Reviewed Year ended 31.03.2016 Audited
1 Interest earned (a)+(b)+(c)+(d) 1048517 1043352 1115636 2091869 2243285 4406127
(a) Interest /discount on advances/bills 683974 716208 771193 1400182 1574464 2979623
(b) Income on investments 253289 249496 273935 502785 529800 1067322
(c) Interest on balances with Reserve Bank of India and other inter bank funds 39178 32492 29121 71670 58726 130592
(d) Others 72076 45156 41387 117232 80295 228590
2 Other Income 156143 144439 114404 300582 211127 499886
3 Total Income (1 + 2) 1204660 1187791 1230040 2392451 2454412 4906013
4 Interest Expended 705907 706243 791189 1412150 1572876 3132143
5 Operating Expenses (a) + (b) + (c) 229733 214599 205149 444332 427639 892313
(a) Employees cost 116850 110812 104398 227662 238906 497802
(b) Rent, Taxes & Lighting 25740 20118 22160 45858 40528 86202
(c) Other operating expenses 87143 83669 78591 170812 148205 308309
6 Total Expenditure (4+5) excluding provisions and contingencies 935640 920842 996338 1856482 2000515 4024456
7 Operating Profit (3-6) before Provisions and Contingencies 269020 266949 233702 535969 453897 881557
8 Provisions (other than tax) and Contingencies 179584 200407 189170 379991 249144 1551365
of which provisions for Non-peforming Asset 163045 198644 184380 361689 241162 1376591
9 Exceptional Items 0 0 0 0 0 0
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 89436 66542 44532 155978 204753 (669808)
11 Provision for Taxes 34224 24180 32084 58404 87090 (130253)
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 55212 42362 12448 97574 117663 (539555)
13 Extraordinary items (net of tax expenses) 0 0 0 0 0 0
14 Net Profit (+) / Loss (-) for the period (12-13) 55212 42362 12448 97574 117663 (539555)
15 Paid-up equity share capital (Face Value of Rs. 2 each) 46209 46209 46209 46209 46209 46209
16 Reserve excluding Revaluation Reserve - - - - - 3561068
17 Analytical Ratios
i) Percentage of shares held by Government of India 59.24 59.24 59.24 59.24 59.24 59.24
ii) Capital Adequacy Ratio(%) -Basel-III 12.94 13.07 12.51 12.94 12.51 13.17
a CET 1 Ratio (%) 10.09 10.19 9.42 10.09 9.42 10.29
b Additional Tier 1 Ratio (%) 0.50 0.51 0.50 0.50 0.50 0.50
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 2.39 1.84 0.56 4.23 5.32 (23.89)
iv) NPA Ratios
(a) Gross NPA 4294925 4299168 2371033 4294925 2371033 4052104
Net NPA 1934195 2078377 1279782 1934195 1279782 1940646
(b) % of Gross NPA 11.35 11.15 5.56 11.35 5.56 9.99
% of Net NPA 5.46 5.73 3.08 5.46 3.08 5.06
v) Return on Assets (annualized) % 0.33 0.25 0.07 0.29 0.33 (0.78)

Notes forming part of the un-audited financial results for the Quarter / Half Year Ended 30th September, 2016

  • The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 11th November, 2016 and approved by the Board of Directors in their meeting held on 11th November, 2016. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
  • The above results for the quarter / half year ended 30th September 2016 have been prepared, following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
  • The financial results for the quarter ended 30th Sept 2016 have been arrived at after considering provision for Non-performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advances as against the Regulatory requirement of 15%.
  • On review of NPA advances portfolio, bank has made additional provision of Rs. 829 Crs during the quarter, over and above the IRAC norms.
  • In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
  • The bank has approved SDR proposals of Rs. 2370 Crs during this quarter in terms of RBI guidelines issued in this regard and made provision of Rs. 118.50 Crs as on 30.09.2016.
  • Further in respect of provision for mark to market requirements on equity portion and 15% on residual loan portion, the bank has decided to provide such provision in equal installments over the four quarters from the date of conversion of Debt into Equity in terms of RBI circular dated 25.02.2016.
  • Non Performing Loan Provisioning Coverage Ratio is 62.95 % as on 30th September 2016.
  • A penalty of Rs. 22.29 lacs was imposed by overseas regulators (Kenya and Oman) for deviation in prudential / other guidelines during the quarter which has been fully provided / paid.
  • Details of Investor's complaints for the quarter ended 30.09.2016: Pending at Beginning: 0; Received: 169; Disposed off:169; Closing:0
  • Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Title As on 30th Sept 2016 Reviewed As on 30th Sept 2015 Reviewed
Capital 46209 46209
Reserves and Surplus 4033967 4284971
Deposits 56753124 61245779
Borrowings 3272225 3526651
Other Liabilities and Provisions 2094112 2049676
Total 66199638 71153286

Assets

Title As on 30th Sept 2016 Reviewed As on 30th Sept 2015 Reviewed
Cash and Balances with Reserve Bank of India 2073220 2396807
Balances with Banks and Money at Call and Short Notice 12001769 11081021
Investments 13605567 13738084
Advances 35414960 41489978
Fixed Assets 601971 300410
Other Assets 2502151 2146987
Tota 66199638 71153286

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

Liquidity Coverage Ratio (LCR) for Quarter ended 30th September, 2016 PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (134 KB)

Segment reporting for the Quarter ended 30th September, 2016

Part A : Business Segments

Particulars Quarter Ended 30.09.2016 Reviewed Quarter Ended 30.06.2016 Reviewed Quarter Ended 30.09.2015 Reviewed Half Year Ended 30.09.2016 Reviewed Half Year Ended 30.09.2015 Reviewed Year ended 31.03.2016 Audited
Segment Revenue
Treasury Operations 416481 396212 388164 812693 749797 1553437
Wholesale Banking 475974 487760 523422 963734 1086255 2186743
Retail Banking 281927 294248 318403 576175 618233 1091807
Other Banking Operations 30278 9571 51 39849 127 74026
Total Revenue 1204660 1187791 1230040 2392451 2454412 4906013
Segment Results
Treasury Operations 110583 102292 62881 212875 116785 255375
Wholesale Banking (42788) (22977) (36150) (65765) 68364 (594386)
Retail Banking 57746 36242 68265 93988 141215 (147955)
Other Banking Operations 22711 7321 41 30032 100 56938
Total 148252 122878 95037 271130 326464 (430028)
Unallocated Expenditure 58816 56336 50505 115152 121711 239780
Profit before Tax 89436 66542 44532 155978 204753 (669808)
Provision for Tax 34224 24180 32084 58404 87090 (130253)
Net Profit 55212 42362 12448 97574 117663 (539555)
Segmemt Assets
Treasury Operations 28822704 27650758 27899457 28822704 27899457 26412307
Wholesale Banking 26176036 28629382 32111537 26176036 32111537 29353737
Retail Banking 10137647 8807699 10377606 10137647 10377606 10090113
Other Banking Operations 0 0 0 0 0 0
Unallocated 1063251 1082917 764686 1063251 764686 1281490
Total Assets 66199638 66170756 71153286 66199638 71153286 67137647
Segmemt Liabilities
Treasury Operations 27046233 25956329 26201186 27046233 26201186 24830858
Wholesale Banking 24562691 26874983 30156872 24562691 30156872 27596168
Retail Banking 9512819 8267966 9745909 9512819 9745909 9485962
Other Banking Operations 0 0 0 0 0 0
(e) Unallocated 997718 1016557 718139 997718 718139 1204760
Total Liabilities 62119461 62115835 66822106 62119461 66822106 63117748
Capital Employed
Treasury Operations 1776471 1694429 1698271 1776471 1698271 1581449
Wholesale Banking 1613345 1754399 1954665 1613345 1954665 1757569
Retail Banking 624828 539733 631697 624828 631697 604151
Other Banking Operations 0 0 0 0 0 0
Unallocated 65533 66360 46547 65533 46547 76730
Total Capital Employed 4080177 4054921 4331180 4080177 4331180 4019899

Part B : Geographic Segments

Particulars Quarter Ended 30.09.2016 Reviewed Quarter Ended 30.06.2016 Reviewed Quarter Ended 30.09.2015 Reviewed Half Year Ended 30.09.2016 Reviewed Half Year Ended 30.09.2015 Reviewed Year ended 31.03.2016 Audited
Revenue
Domestic 1075134 1059327 1098668 2134461 2197963 4397454
International 129526 128464 131372 257990 256449 508559
Total 1204660 1187791 1230040 2392451 2454412 4906013
Assets
Domestic 44955635 44554179 47282492 44955635 47282492 44388112
International 21244003 21616577 23870794 21244003 23870794 22749536
Total 66199638 66170756 71153286 66199638 71153286 67137648

Notes on Segment Reporting :

  • As per guidelines of 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 segment.
  • The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Ashok Kumar Garg
Executive Director		 Mayank K Mehta
Executive Director		 B B Joshi
Executive Director		 P S Jayakumar
Managing Director & CEO		 Ravi Venkatesan
Chairman

Place : Mumbai
Date : 11.11.2016

Un-audited Financial Results (Standalone) for the Quarter Ended 30th June, 2016

Sr. No. Particulars Quarter Ended 30.06.2016 Reviewed Quarter Ended 31.03.2016 Audited Quarter Ended 30.06.2015 Reviewed Year ended 31.03.2016 Audited
1 Interest earned (a)+(b)+(c)+(d) 10433,52 11014,38 11276,49 44061,27
(a) Interest /discount on advances/bills 7162,08 6882,34 8032,71 29796,23
(b) Income on investments 2494,96 2689,35 2558,65 10673,22
(c) Interest on balances with Reserve Bank of India and other inter bank funds 324,92 365,31 296,05 1305,92
(d) Others 451,56 1077,38 389,08 2285,90
2 Other Income 1444,39 1774,68 967,23 4998,86
3 Total Income (1 + 2) 11877,91 12789,06 12243,72 49060,13
4 Interest Expended 7062,43 7683,97 7816,87 31321,43
5 Operating Expenses (a) + (b) 2145,99 2532,63 2224,90 8923,13
(a) Employees cost 1108,12 1434,17 1345,08 4978,02
(b) Other operating expenses 1037,87 1098,46 879,82 3945,11
6 Total Expenditure (4+5) excluding provisions and contingencies 9208,42 10216,60 10041,77 40244,56
7 Operating Profit before Provisions and Contingencies (3-6) 2669,49 2572,46 2201,95 8815,57
8 Provisions (other than tax) and Contingencies 2004,07 6857,66 599,74 15513,65
9 Exceptional Items - - - -
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) 665,42 (4285,20) 1602,21 (6698,08)
11 Tax expenses 241,80 (1055,06) 550,06 (1302,53)
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 423,62 (3230,14) 1052,15 (5395,55)
13 Extraordinary items (net of tax expenses) - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) 423,62 (3230,14) 1052,15 (5395,55)
15 Paid-up equity share capital (Face Value of Rs. 2 each) 462,09 462,09 443,56 462,09
16 Reserve excluding Revaluation Reserve - - - 35610,68
17 Analytical Ratios
i) Percentage of shares held by Government of India 59.24 59.24 57.53 59.24
ii) Capital Adequacy Ratio
a Capital Adequacy Ratio (%)- Basel-II 14.09 14.20 12.74 14.20
b Capital Adequacy Ratio (%)- Basel-III 13.07 13.17 11.98 13.17
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] 1.84 (14.02) 4.76 (23.89)
iv) NPA Ratios
(a) Gross NPA 42991,68 40521,04 17273,95 40521,04
Net NPA 20783,77 19406,46 8470,02 19406,46
(b) % of Gross NPA 11.15 9.99 4.13 9.99
% of Net NPA 5.73 5.06 2.07 5.06
v) Return on Assets (annualized) % 0.25 (1.90) 0.60 (0.78)

Notes forming part of the un audited financial results for the Quarter ended 30th June, 2016

  • The above financial results have been reviewed by the Audit Committee of Board in their meeting held on 10th Aug, 2016 and approved by the Board of Directors in their meeting held on 11th Aug, 2016. The same have been subjected to Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
  • The above results for the quarter ended 30th June 2016 have been prepared following the same accounting policy as those followed in the annual financial statements for the year ended 31st March, 2016.
  • The financial results for the quarter ended 30th June 2016 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%.
  • In compliance to the RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has provided a sum of Rs. 289.45 crore during quarter ended 31.03.2016 being 15% of the outstanding of Rs. 1962.02 Crore as on 31.03.2016 under food credit availed by a State Government. As per the RBI's directives, said provision was required to be made in two quarters i.e 7.5% in March, 2016 and 7.5% in June, 2016. A sum of Rs. 80.70 Crore has been reversed during this quarter due to decrease in outstanding balance of such credit.
  • In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
  • Non Performing Loan Provisioning Coverage Ratio is 60.17 % as on 30th June 2016.
  • A penalty of Rs. 5.00 Crore was imposed by RBI in July 2016 on account of weaknesses in internal control mechanism in respect of non adherence of certain regulations on KYC/AML. The same has been provided during this quarter.
  • Details of Investor's complaints for the quarter ended 30.06.2016: Pending at Beginning - 0; Received -243; Disposed off -243; Closing -0
  • Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Title As on 30th June 2016 Reviewed As on 30th June 2015 Reviewed
Capital 462,09 443,56
Reserves and Surplus 40087,12 40700,51
Deposits 562173,73 593087,21
Borrowings 35714,48 36838,82
Other Liabilities and Provisions 23270,14 24628,35
Total 661707,56 695698,45

Assets

Title As on 30th June 2016 Reviewed As on 30th June 2015 Reviewed
Cash and Balances with Reserve Bank of India 21183,33 20441,94
Balances with Banks and Money at Call and Short Notice 113384,12 108955,95
Investments 132438,84 140878,19
Advances 362766,35 408388,13
Fixed Assets 6185,01 2962,89
Other Assets 25749,91 14071,35
Tota 661707,56 695698,45

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

Liquidity Coverage Ratio (LCR) for Year ended 30th June, 2016 PDF file that opens in new window. To know how to open PDF file refer Help section located at bottom of the site. (241 KB)

Segment reporting for the Quarter ended 30th June, 2016

Part A : Business Segments

Particulars Quarter Ended 30.06.2016 Reviewed Quarter Ended 31.03.2016 Audited Quarter Ended 30.06.2015 Reviewed Year ended 31.03.2016 Audited
Segment Revenue
Treasury Operations 3962,12 4095,14 3616,33 15534,37
Wholesale Banking 4877,60 5614,79 5628,33 21867,43
Retail Banking 2942,48 2340,47 2998,30 10918,07
Other Banking Operations 95,71 738,66 76 740,26
Total Revenue 11877,91 12789,06 12243,72 49060,13
Segment Results
Treasury Operations 1022,92 685,47 539,04 2553,75
Wholesale Banking (229,77) (3217,68) 1045,14 (5943,86)
Retail Banking 362,42 (1746,95) 729,50 (1479,55)
Other Banking Operations 73,21 568,13 59 569,38
Total 1228,78 (3711,03) 2314,27 (4300,28)
Unallocated Expenditure 563,36 574,18 712,06 2397,80
Profit before Tax 665,42 (4285,21) 1602,21 (6698,08)
Provision for Tax 241,80 (1055,07) 550,06 (1302,53)
Net Profit 423,62 (3230,14) 1052,15 (5395,55)
Segment Assets
Treasury Operations 276507,58 264123,07 270327,75 264123,07
Wholesale Banking 286293,82 293537,37 319008,30 293537,37
Retail Banking 88076,99 100901,13 98568,13 100901,13
Other Banking Operations - - - -
Unallocated 10829,17 12814,90 7794,27 12814,90
Total Assets 661707,56 671376,47 695698,45 671376,47
Segment Liabilities
Treasury Operations 259563,29 248308,58 254340,39 248308,58
Wholesale Banking 268749,83 275961,68 300141,94 275961,68
Retail Banking 82679,66 94859,62 92738,74 94859,62
Other Banking Operations - - - -
Unallocated 10165,57 12047,60 7333,31 12047,60
Total Liabilities 621158,35 631177,48 654554,38 631177,48
Capital Employed
Treasury Operations 16944,29 15814,49 15987,36 15814,49
Wholesale Banking 17543,99 17575,69 18866,36 17575,69
Retail Banking 5397,33 6041,51 5829,39 6041,51
Other Banking Operations - - - -
Unallocated 663,60 767,30 460,96 767,30
Total Capital Employed 40549,21 40198,99 41144,07 40198,99

Part B : Geographic Segments

Particulars Quarter Ended 30.06.2016 Reviewed Quarter Ended 31.03.2016 Audited Quarter Ended 30.06.2015 Reviewed Year ended 31.03.2016 Audited
Revenue
Domestic 10593,27 11501,75 10992,95 43974,54
International 1284,64 1287,31 1250,77 5085,59
Total 11877,91 12789,06 12243,72 49060,13
Assets
Domestic 445541,79 443881,12 464221,79 443881,12
International 216165,77 227495,36 231476,66 227495,36
Total 661707,56 671376,48 695698,45 671376,48

Notes on Segment Reporting :

  • As per guidelines of 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 segment.
  • The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
B B Joshi
Executive Director		 P S Jayakumar
Managing Director & CEO		 Ravi Venkatesan
Chairman

Place : Mumbai
Date : 11.08.2016

Audited Financial Results for the Quarter/ Year ended 31st March, 2016

Sr. No. Particulars Quarter Ended 31.03.2016 Audited Quarter Ended 31.12.2015 Reviewed Quarter Ended 31.03.2015 Audited Year ended (Standalone) 31.03.2016 Audited Year ended (Standalone) 31.12.2015 Audited Year Ended (Consolidated) 31.03.2016 Audited Year Ended (Consolidated) 31.03.2015 Audited
1 Interest earned (a)+(b)+(c)+(d) 11014,38 10614,04 10761,93 44061,27 42963,55 45799,00 44914,96
(a) Interest /discount on advances/bills 6882,34 7169,25 7539,62 29796,23 30802,68 30700,07 31669,36
(b) Income on investments 2689,35 2685,87 2358,68 10673,22 9430,99 11333,93 10603,54
(c) Interest on balances with Reserve Bank of India and other inter bank funds 365,31 353,35 286,63 1305,92 1549,79 1469,88 1717,63
(d) Others 1077,38 405,57 577,00 2285,90 1180,09 2295,12 924,43
2 Other Income 1774,68 1112,91 1295,46 4998,86 4402,00 5992,17 5449,27
3 Total Income (1 + 2) 12789,06 11726,95 12057,39 49060,13 47365,55 51791,17 50364,23
4 Interest Expended 7683,97 7908,70 7590,26 31321,43 29776,32 32107,44 30546,61
5 Operating Expenses (a) + (b) 2532,63 2114,11 1773,60 8923,13 7674,13 9962,42 8604,41
(a) Employees cost 1434,17 1154,79 928,24 4978,02 4261,35 5201,05 4476,97
(b) Other operating expenses 1098,46 959,32 845,36 3945,11 3412,78 4761,37 4127,44
6 Total Expenditure (4+5) excluding provisions and contingencies 10216,60 10022,81 9363,86 40244,56 37450,45 42069,86 39151,02
7 Operating Profit before Provisions and Contingencies (3-6) 2572,46 1704,14 2693,53 8815,57 9915,10 9721,31 11213,21
8 Provisions (other than tax) and Contingencies 6857,66 6164,55 1817,50 15513,65 4494,50 15953,97 5229,98
9 Exceptional Items - - - - - - -
10 Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) (4285,20) (4460,41) 876,03 (6698,08) 5420,60 (6232,66) 5983,23
11 Tax expenses (1055,06) (1118,37) 277,68 (1302,53) 2022,17 (1179,58) 2150,54
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) (3230,14) (3342,04) 598,35 (5395,55) 3398,43 (5053,08) 3832,69
Less: Minority Interest NA NA NA NA NA 34,69 38,69
Add: Share of earnings in Associates NA NA NA NA NA 20,09 117,73
13 Extraordinary items (net of tax expenses) - - - - - - -
14 Net Profit (+) / Loss (-) for the period (12-13) (3230,14) (3342,04) 598,35 (5395,55) 3398,43 (5067,68) 3911,73
15 Paid-up equity share capital (Face Value of Rs. 2 each) 462,09 462,09 443,56 462,09 443,56 462,09 443,56
16 Reserve excluding Revaluation Reserve - - - 35610,68 38404,49 37903,21 40573,71
17 Analytical Ratios
i) Percentage of shares held by Government of India 59.24 59.24 57.53 59.24 57.53 59.24 57.53
ii) Capital Adequacy Ratio
a Capital Adequacy Ratio (%)- Basel-II 14.20 12.95 13.33 14.20 13.33 14.76 13.90
b Capital Adequacy Ratio (%)- Basel-III 13.17 12.18 12.60 13.17 12.60 13.63 13.07
iii) Earnings Per Share
Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.] (14.02) (14.50) 2.79 (23.89) 15.83 (22.44) 18.22
iv) NPA Ratios
(a) Gross NPA 40521,04 38934,11 16261,45 40521,04 16261,45 NA NA
Net NPA 19406,46 21806,16 8069,49 19406,46 8069,49 NA NA
(b) % of Gross NPA 9.99 9.68 3.72 9.99 3.72 NA NA
% of Net NPA 5.06 5.67 1.89 5.06 1.89 NA NA
v) Return on Assets (annualized) % (1.90) (1.91) 0.35 (0.78) 0.49 NA NA

Notes forming part of the audited financial results for the Quarter/Year ended 31st March, 2016

  • The above financial results have been reviewed by the Audit Committee of Board in their meeting held on13th May 2016 and approved by the Board of Directors in their meeting held on 13th May 2016. The same have been subjected to Audit by the Statutory Central Auditors of the Bank, in line with the guidelines issued by Reserve Bank of India and as per the requirement of listing agreement with Stock Exchanges.
  • Accounting policies have been consistently applied during the year and there is no material change in accounting policies adopted during the year ended March 2016 as compared to those followed for the year ended March 2015.
  • The financial results for the quarter/ year ended 31st March 2016 have been arrived at after considering provision for Non performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advance as against the Regulatory requirement of 15%.
  • During the year, as a part of Asset Quality Review (AQR) conducted by RBI, the bank has been advised to reclassify / make additional provisions in respect of certain advance accounts over two quarters ending December 2015 and March 2016. The Bank has accordingly implemented the RBI direction.
  • Further, the Bank has done an extensive review of the advance portfolio and has made additional provision for NPAs.
  • During the year the Bank has created DTA of Rs. 848 crores on account of difference in provision requirement at UAE which in the opinion of the Bank is fully reversible. Out of this Rs. 540.73 crores pertains to earlier years, which was credited to past reserves.
  • Other income for the current year includes Rs. 302.97 crores on account of exchange gain on repatriation of funds from foreign offices.
  • In accordance with UDAY (Ujwal Discom Assurance Yojna) Scheme of GOI, Ministry of Power for operational and financial turnaround of Power Distribution Companies (DISCOMs) during the FY 2015-16, the bank has subscribed to Non SLR SDL Bond of Government of Rajasthan (GoR) and Government of UP (GoUP) amounting to Rs. 1976.66 crs & Rs. 297.16 crores respectively.
  • In compliance to the RBI letter No. DBR.BP.NO.11657/21.04:132/2015-16 dated 17th March 2016, bank has made the provision as under:
    • Rs. 121.63 crores in respect of segment not envisaged to be converted into SDL in FY 2016-17 @15% on Rs. 810.86 crores and classified as standard assets
    • Rs. 25.31 crores for diminution in the fair value of loan / DISCOM bonds.
  • Bank is providing for employee benefits in accordance with the accounting standard (AS) -15 issued by ICAI. The same is calculated by actuarial valuation. The bank has during the year as a matter of prudence, decided to change one of the assumptions for actuarial calculation by shifting mortality rate table from LICI 1994-96 to IALM 2006-08. Due to this change, additional provision of Rs.1563.70. crore has been made during the quarter ended March 2016.
  • During the year, the bank has revalued the premises forming part of its fixed assets schedule. These premises are revalued based on the reports of bank's approved valuers and the surplus arising from revaluation amount of Rs. 3241.31 crore has been added to "Revaluation Reserve" during current year.
  • In compliance to the RBI letter no. DBR.NO.BP.13018/21.04.048/2015-16 dated 12.04.2016, Bank has provided a sum of Rs.289.45 crore being 15% of the existing outstanding of Rs. 1962.02 Crore as on 31.03.2016 under food credit availed by a State Government. As per RBI's directives, said provision was required to be made in two quarters i.e 7.5% in March, 2016 and 7.5% in June, 2016. However bank has decided to make the full required provision in March 2016 quarter.
  • As advised by RBI vide circular no.DBR.BP.BC.No.31/21.04.018/2015-16 dated 16.07.2015, Bank has included its deposits placed with NABARD/SIDBI and NHB on account of shortfall in lending to Priority Sector, under "Other Assets" which were earlier included under "Investments". Interest income on these deposits has been included under "Interest Earned- Others"
  • In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Audit by the auditors.
  • Non Performing Loan Provisioning Coverage Ratio is 60.09 % as on 31st March 2016.
  • During the year, on 29th September 2015, Bank has allotted 9,26,63,692 shares of Rs. 2/- each fully paid up at a premium of Rs. 190.74 per share to the Government of India, as approved by shareholders in the Extra-ordinary General Meeting dated 28th Sept. 2015 in accordance with SEBI (ICDR) Regulations 2009 on preferential basis. Total amount received by Bank on this account is Rs. 1786 Crores
  • During the year in compliance of ICDs, the unrealized gain for the year on translation of foreign currency items of non integral operations of bank amounting to Rs.562.89 Crores, credited to FCTR account, has been offered for tax. As this being a timing difference with reasonable certainty of repatriation of foreign currency funds / foreign currency movement and being capable of full reversal in future, the bank has created the Deferred tax Assets amounting to Rs.194.80 Crores on the same and the same has been credited to profit and loss account as per Accounting Standard-22.
  • During the year a penalty of Rs. 49.43 lac was imposed by (RBI / Financial Intelligence Unit (FIU)/ Overseas Regulators).
  • Details of Investor's complaints for the quarter ended 31.03.2016: Pending at Beginning - Nil; Received -201; Disposed off - 201; Closing - Nil
  • Statement of Assets & Liabilities is as under:-

Capital & Liabilities

Title As on 31st March 2016 Audited As on 31st March 2015 Audited
Capital 462,09 443,56
Reserves and Surplus 39736,89 39391,79
Deposits 574037,87 617559,52
Borrowings 33471,70 35264,28
Other Liabilities and Provisions 23667,92 22329,40
Total 671376,47 714988,55

Assets

Title As on 31st March 2016 Audited As on 31st March 2015 Audited
Cash and Balances with Reserve Bank of India 21672,42 22488,60
Balances with Banks and Money at Call and Short Notice 112227,93 125864,55
Investments 120450,52 111304,75
Advances 383770,18 428065,14
Fixed Assets 6253,78 2874,85
Other Assets 27001,65 24390,67
Total 671376,47 714988,56

The figures for the quarter ended 31st March 2016 and the corresponding quarter ended in the previous year are the balancing figures of the audited figures and the reviewed year to date figures up to the end of third quarter of the relevant financial year. The figures of 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 /Year ended 31st March, 2016

Part A : Business Segments

Particulars Quarter Ended 31.03.2016 Audited Quarter Ended 31.12.2015 Reviewed Quarter Ended 31.03.2015 Audited Year ended (Standalone) 31.03.2016 Audited Year ended (Standalone) 31.12.2015 Audited Year Ended (Consolidated) 31.03.2016 Audited Year Ended (Consolidated) 31.03.2015 Audited
Segment Revenue
Treasury Operations 4095,14 3941,26 3711,92 15534,37 13905,38 16175,99 14562,86
Wholesale Banking 5614,79 5390,09 5174,26 21867,43 21465,60 22377,82 22025,24
Retail Banking 2340,47 2395,27 3110,44 10918,07 11932,16 11546,18 12488,89
Other Banking Operations 738,66 33 60,76 740,26 62,41 1691,18 1287,25
Total Revenue 12789,06 11726,95 12057,38 49060,13 47365,55 51791,17 50364,24
Segment Results
Treasury Operations 685,47 700,43 790,63 2553,75 3332,69 2706,92 3563,83
Wholesale Banking (3217,68) (3409,82) (113,48) (5943,86) 936,42 (5748,45) 1120,41
Retail Banking (1746,95) (1144,75) 501,39 (1479,55) 3005,45 (1331,31) 3144,22
Other Banking Operations 568,13 25 48,22 569,38 49,53 562,36 173,26
Total (3711,03) (3853,89) 1226,76 (4300,28) 7324,09 (3810,48) 8001,72
Unallocated Expenditure 574,18 606,51 350,73 2397,80 1903,49 2436,78 1939,45
Profit before Tax (4285,21) (4460,40) 876,03 (6698,08) 5420,60 (6247,26) 6062,27
Provision for Tax (1055,07) (1118,36) 277,68 (1302,53) 2022,17 (1179,58) 2150,54
Net Profit (3230,14) (3342,04) 598,35 (5395,55) 3398,43 (5067,68) 3911,73
Capital Employed
Treasury Operations 15814,49 16507,67 15127,87 15814,49 15127,87 272218,52 16035,05
( Wholesale Banking 17575,69 17117,31 18740,38 17575,69 18740,38 297735,00 19485,84
Retail Banking 6041,51 5868,56 5548,14 6041,51 5548,14 105505,11 5937,31
Other Banking Operations - - - - - 2887,60 127,31
Unallocated 767,30 501,12 418,96 767,30 418,96 12832,85 432,14
Total Capital Employed 40198,99 39994,66 39835,35 40198,99 39835,35 691179,08 42017,65

Part B : Geographic Segments

Particulars Quarter Ended 31.03.2016 Audited Quarter Ended 31.12.2015 Reviewed Quarter Ended 31.03.2015 Audited Year ended (Standalone) 31.03.2016 Audited Year ended (Standalone) 31.12.2015 Audited Year Ended (Consolidated) 31.03.2016 Audited Year Ended (Consolidated) 31.03.2015 Audited
Revenue
Domestic 11501,75 10493,16 10770,32 43974,54 41854,04 45643,85 43794,36
International 1287,31 1233,79 1287,06 5085,59 5511,51 6147,32 6569,88
Total 12789,06 11726,95 12057,38 49060,13 47365,55 51791,17 50364,24
Assets
Domestic 443881,12 460256,00 464871,39 443881,12 464871,39 473707,41 473707,41
International 227495,36 226929,67 250117,16 227495,36 250117,16 260269,97 260269,97
Total 671376,48 687185,67 714988,55 671376,48 714988,55 733977,38 733977,38

Notes on Segment Reporting :

  • As per guidelines of 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 segment.
  • The figures of previous period/ year have been regrouped/ rearranged wherever necessary so as to make them comparable with those of the current period.
Mayank K Mehta
Executive Director		 B B Joshi
Executive Director		 P S Jayakumar
Managing Director & CEO		 Ravi Venkatesan
Chairman

Place : Mumbai
Date : 13.5.2016

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