Financial Report Q1 2021-22

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June 21
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Financial Results June 21

Standalone- SEBI

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Un-Audited (Reviewed) Standalone Financial Results for the Quarter Ended 30th June 2021
            ( ₹ in lakhs)
Sr. No.   Particulars Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021
      Un-Audited Audited Un-Audited Audited
1   Interest earned (a)+(b)+(c)+(d) 1705264 1668452 1849416 7049506
  (a) Interest /discount on advances / bills 1216818 1174850 1307950 5005212
  (b) Income on investments 407108 413348 451467 1707712
  (c) Interest on balances with Reserve Bank of India and other inter bank funds 20746 22743 47135 145092
  (d) Others 60592 57511 42864 191490
2   Other Income 296978 484839 181828 1236444
3   Total Income (1 + 2) 2002242 2153291 2031244 8285950
4   Interest Expended 916097 957790 1167809 4168604
5   Operating Expenses (a)+ (b) 515404 568941 459268 2054366
  (a) Employees cost 305946 312491 252011 1144553
  (b) Other operating expenses 209458 256450 207257 909813
6   Total Expenditure (4+5) excluding provisions and contingencies 1431501 1526731 1627077 6222970
7   Operating Profit (3-6) before Provisions and Contingencies 570741 626560 404167 2062980
8   Provisions (other than tax) and Contingencies 411199 358603 534943 1507380
9   Exceptional Items - - - -
10   Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9) 159542 267957 (130776) 555600
11   Provision for Taxes 38679 372607 (44350) 472705
12   Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11) 120863 (104650) (86426) 82895
13   Extraordinary items (net of tax expenses) - - - -
14   Net Profit (+) / Loss (-) for the period (12-13) 120863 (104650) (86426) 82895
15   Paid-up equity share capital (Face Value of ₹ 2 each) 103553 103553 92537 103553
16   Reserve excluding Revaluation Reserve       7083310
17   Analytical Ratios        
  i) Percentage of shares held by Government of India 63.97 63.97 71.60 63.97
  ii) Capital Adequacy Ratio(%) -Basel-III 15.40 14.99 12.84 14.99
    a) CET 1 Ratio (%) 11.25 10.94 9.08 10.94
    b) Additional Tier 1 Ratio (%) 1.81 1.73 1.25 1.73
  iii) Earnings Per Share        
  (a) "Basic EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹]" 2.34 (2.24) (1.87) 1.78
  (b) "Diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹]" 2.34 (2.24) (1.87) 1.78
  iv) NPA Ratios        
    a) Gross NPA 6302878 6667099 6913201 6667099
    b) Net NPA 2025997 2179988 1944968 2179988
    c) % of Gross NPA 8.86 8.87 9.39 8.87
    d) % of Net NPA 3.03 3.09 2.83 3.09
  v) Return on Assets (annualized) % 0.42 (0.36) (0.30) 0.07

Standalone Segment

Un-Audited (Reviewed) Standalone Segment reporting for the Quarter Ended 30th June 2021
Part A-Business Segments ( ₹ in Lakhs)
Sr. No. Particulars Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021
Un-Audited Audited Un-Audited Audited
1 Segment Revenue        
  (a) Treasury Operations 639360 611728 618981 2476375
  (b) Wholesale Banking 651972 733515 695476 2875350
  (c) Retail Banking 707521 784816 715868 2895874
  (d) Other Banking Operations 3389 23232 919 38351
  Total Revenue 2002242 2153291 2031244 8285950
2 Segment Results        
  (a) Treasury Operations 156598 94025 98071 476289
  (b) Wholesale Banking (23157) (26015) (195457) (400767) 
  (c) Retail Banking 145821 312912 97942
 999585 
  (d) Other Banking Operations 3389 23232 919 38351
  Total 282651 404154 1475
 1113458
  Unallocated Expenditure 123109 136197 132251 557858
  Profit before Tax 159542 267957 (130776) 555600
  Provision for Tax 38679 372607 (44350) 472705
  Net Profit 120863 (104650) (86426) 82895
3 Segment Assets        
  (a) Treasury Operations 40610790 39644149 37715413 39644149
  (b) Wholesale Banking 47697396 51181306 52254420 51181306
  (c) Retail Banking 22218132 22969158 21451140 22969158
  (d) Other Banking Operations - - - -
  (e) Unallocated 1651971 1741864 1804566 1741864
  Total Assets 112178289 115536477 113225539 115536477
4 Segment Liabilities        
  (a) Treasury Operations 37768225 37000471 35347055 37000471
  (b) Wholesale Banking 44358802 47768271 48973078 47768271
  (c) Retail Banking 20662967
 21437455 20104105 21437455
  (d) Other Banking Operations - - - -
  (e) Unallocated 1536340 1625708 1691247 1625708
  Total Liabilities 104326334 107831905 106115485 107831905
5 Capital Employed        
  (a) Treasury Operations 2842565 2643678 2368358 2643678
  (b) Wholesale Banking 3338594 3413035 3281342 3413035
  (c) Retail Banking 1555165 1531703 1347035 1531703
  (d) Other Banking Operations - - - -
  (e) Unallocated 115631 116156 113319 116156
  Total Capital Employed 7851955 7704572 7110054 7704572
Part- B : Geographic Segments
Sr. No. Particulars Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021
Un-Audited Audited Un-Audited Audited
1Revenue    
 (a) Domestic 1910793 2046503 1893853 7843416
 (b) International91449 106788 137391 442534
 Total20022422153291 2031244 8285950
2Assets    
 (a) Domestic 94553483 97037709 94288769 97037709
 (b) International17624806 18498768 18936770 18498768
 Total112178289115536477 113225539 115536477

Standalone SEBI Notes June 2021-22

  • The above standalone financial results have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on August 7, 2021. The same has been subjected to limited review by Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015.
  • The above standalone financial results for the quarter ended June 30, 2021 have been prepared in accordance with recognition and measurement principles laid down in Accounting Standard (AS-25) on 'Interim Financial Reporting' issued by the Institute of Chartered Accountants of India.
  • The Bank has continued to follow the same accounting policies and practices in preparation of financial results for the quarter ended June 30, 2021 as followed in the previous financial year ended March 31, 2021.
  • The above financial results have been arrived at after considering necessary provision for NPAs, Standard Assets , Restructured Assets and Investment Depreciation/Provision, Provisions for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis for the quarter and subject to adjustments, if any, at the year end.
  • In terms of Reserve Bank of India (RBI) guidelines, Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
  • As per RBI Circular no. DBR.No.BP.15199/21.04.048/2016-17 and DBR.No.BP.1906/21.04.048/20 17-18 dated June 23, 2017 and August 28, 2017 respectively, for the accounts covered under the provisions of Insolvency and Bankruptcy Code (IBC), the Bank is holding total provision of ₹ 818003 Lakhs being 100% of total outstanding as on June 30, 2021.
  • 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 is holding a provision of ₹19312 Lakhs as on June 30, 2021.
  • The COVID-19 outbreak was declared a global pandemic by the World Health Organization on March 11, 2020 and affected world economy as well as Indian economy. On accounts of continuous volatility in financial market, Bank of Baroda has considered internal and external sources of information including economic forecast and industry report up to date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of advances & provision there on, investment valuation, other assets and liabilities of Bank of Baroda.
    The second wave of the COVID-19 pandemic, where the number of new cases significantly increased in India following the discovery of mutant coronavirus variants in the country, which led to the re-imposition of localized/regional lockdown measures in various parts of the country. The second wave has started to subside from June 2021 onwards and there has been a gradual lifting of lock downs, resulting in an increase in economic activity. The bank is regularly keeping a watch on development & taking proactive measures to mitigate the challenges posed by this second wave.
    Given the uncertainty because of COVID -19 pandemic, the Bank is continuously monitoring any material change in future economic conditions which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as the date of approval of these financial results.
    In View of the uncertainties created by the resurgence of the COVID -19 pandemic in India, RBI has announced Resolution Framework 2.0 vide its circular dated May 05, 2021 for resolution of loans to Individuals and Small Businesses along with loans to MSME sector stressed due to COVID-19 pandemic, without a downgrade in the asset classification. In accordance to these, the Bank is required to make higher of the provisions held as per the extant IRAC norms immediately before implementation, or 10 percent of the residual debt.
  • As per Directions of RBI vide letter no 10655/21.04.048/2018-19 dated 21.06.2019 disclosure with respect to Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) as under: (In ₹ Lakhs)
    Particulars Amount not treated as NPA as per IRAC Norms Provision required as per IRAC Norms Provision actually made
    Principal 16400 6560 6560
    Interest 7943 7943 7943
    Total 24343 14503 14503
    Further in addition there are four other accounts which are classified as standard as per Court orders, with aggregate outstanding of ₹ 322298 Lakhs as of June 30, 2021 against which Bank is holding provision of ₹ 165868 Lakhs as of June 30, 2021as per IRAC norms, including provision for unrealized interest.
  • In accordance with the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals1 and Small Business2”, the number of borrower accounts where modification were sanctioned and implemented and the aggregate exposure to such borrowers are as under:- (In ₹ Lakhs)
    No of Accounts Aggregate exposure as on 30.06.2021
    8544 66494
    (Individual covers only Personal Loan segment as per RBI circular No DOR. No. BP.BC/3/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(a) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.
    Small Business (including retail trade and wholesale trade) extended to individual which were covered under MSME as per RBI circular No DOR. No. BP.BC/4/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(b) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.)
  • RBI vide their circular no. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets issued guidelines for implementation of Resolution Plan, also containing requirements of additional provisions as per para 17 of this RBI circular. The total outstanding including NFB and investment in such cases as on June 30, 2021 is ₹ 1446260 Lakhs and in compliance the above RBI circular, the Bank has made additional provision of ₹ 37304 Lakhs during the quarter ended June 30, 2021 and holds total provision of ₹ 481430 Lakhs as on June 30, 2021.
  • As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated 01.01.2019, RBI circular No DOR. No. BP. BC. 34/21.04.048/2019-20 dated 11.02.2020 & RBI circular No DOR. No. BP. BC/4/21.04.048/2020-21 dated 06.08.2020 on 'Restructuring of Advances - Micro, Small and Medium Enterprises (MSME) Sector' (One Time Restructuring) and RBI circular No DOR.STR.REC.12/21.04.048/2021-22 dated 05.05.2021 & RBI circular No DOR.STR.REC.21/21.04.048/2021-22 dated 04.06.2021 on Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs), 127655 MSME borrower accounts were restructured amounting to ₹ 915171 Lakhs as on June 30, 2021.
  • As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Bank has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on June 30, 2021 is ₹ 34945 Lakhs which is to be amortised in the subsequent quarters by the Bank.
  • Non-Performing Assets Provisioning Coverage Ratio (including floating provision) is 83.14% as on June 30, 2021.
  • The Bank has purchased PSLC (Priority Sector lending Certificates) of ₹350000 Lakhs under the category Small and Marginal Farmer and sold PSLC of ₹ 100000 Lakhs under the category Micro Enterprises during the current quarter.
  • Number of Investors' complaints pending at the beginning of the quarter was NIL. The Bank has received 182 Investors' complaints during the quarter ended June 30, 2021. All complaints have been disposed of during the quarter. There are NIL pending Investors' complaints at the end of the quarter.
  • A penalty of ₹ 41.75 Lakhs has been imposed on the Bank by Reserve Bank of India for the quarter ended June 30, 2021.
  • 18. Details of Resolution plan implemented in Domestic operations under Resolution Framework for COVID 19 related stress as per RBI circular Circular RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 dated 06. August 2020 as of June 30, 2021.(In ₹ Lakhs)
    Type of borrower (A) Number of accounts where resolution plan has been implemented under this window (B) exposure to accounts mentioned at (A) before implementation of the plan (C) Of (B), aggregate amount of debt that was converted into other securities (D) Additional funding sanctioned, if any, including between invocation of the plan and implementation (E) Increase in provisions on account of the implementation of the resolution plan $
    Personal Loans 7110 102514 0.00 0.00 10252
    Corporate persons* 28 867711 5009 44267 115483
    Of which, MSMEs 8 35501 0.00 916 3642
    Others 1 92511 33003 9262 29629
    Total 7139 1062736 38012 53529 155364
    *As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016
    $ Total Provision held as on 30.06.2021 in the accounts restructured.
  • In accordance with the instructions of RBI circular dated 07.04.2021 on “Asset Classification and Income Recognition following the expiry of COVID 19 regulatory package”, the Bank shall refund/adjust “interest on interest” charged to all borrowers including those who has availed of working capital facilities during moratorium period i.e. 01.03.2020 to 31.08.2020, irrespective of whether moratorium had been fully or partially availed or not availed. Pursuant to these instructions, the methodology for calculation of the amount to be refunded/ adjusted for different facilities has been circulated by the Indian Bank’s Association (IBA) as required by RBI notification. The Bank has estimated interest relief of ₹ 50500 Lakhs and reduced the same from interest earned during the quarter ended and year ended 31st March 2021. Amount no longer required on Crystallization of such liability will be credited to interest earned during the quarter ending 30.09.2021.
  • Notes on Segment Reporting:
    • 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).
    • Segment revenue represents revenue from external customers.
    • Capital employed for each segment has been allocated proportionate to the assets of the respective segment.
  • The comparative figures for quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the financial year 2020 -21 and the published year to date figures up to December 31, 2020 which were subject to limited review.
  • The figures of the previous period have been regrouped / rearranged, wherever necessary, to conform to the current period classifications.

Consolidate SEBI

Regd Office: Baroda House P B No.506 Mandvi Baroda- 390006
Corporate Office: C-26 G-Block Bandra Kurla Complex Bandra (E) Mumbai- 400051
Un-Audited (Reviewed) Standalone Financial Results for the Quarter Ended 30th June 2021
      ( ₹ in lakhs)
Sr. No.   Particulars Quarter Ended Year Ended
Un-AuditedAuditedUn-AuditedAudited
1 Interest earned (a)+(b)+(c)+(d)1802578 1740830 1952365 7431398
 (a)Interest /discount on advances / bills1255765 1208140 1343427 5142722
 (b)Income on investments462115 450993 510492 1927538
 (c)Interest on balances with Reserve Bank of India and other inter bank funds24314 25012 55179 169330
 (d)Others60384 56685 43267 191808
2 Other Income332975 635379 216106 1468720
3 Total Income (1 + 2)2135553 2376209 2168471 8900118
4 Interest Expended955425 994237 1205534 4320118
5 Operating Expenses (a)+ (b)569581 689331 497341 2311747
 (a)Employees cost320515 328008 265006 1199338
 (b)Other operating expenses249066 361323 232335 1112409
6 Total Expenditure (4+5) excluding provisions and contingencies1525006 1683568 1702875 6631865
7 Operating Profit (3-6) before Provisions and Contingencies 610547 692641 465596 2268253
8 Provisions (other than tax) and Contingencies449465 403338 570082 1630936
9 Exceptional Items - - - -
10 Profit (+) / Loss (-) from Ordinary Activities before tax (7-8-9)161082 289303 (104486)637317
11 Provision for Taxes44162 374233 (39459)491927
12 Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)116920 (84930)(65027)145390
13 Less: Minority Interest2041 2062 1834 7263
14 Add: Share of earnings in Associates3775 12913 (1010)16640
15 Extraordinary items (net of tax expenses) - - - -
16 Net Profit (+) / Loss (-) for the period (12-13+14+15)118654(74079)(67871) 154767
17 "Paid-up equity share capital (Face Value of ₹ 2 each)"103553 103553 92537 103553
18 Reserve excluding Revaluation Reserve   7614757
19 Analytical Ratios    
 i)Percentage of shares held by Government of India63.97 63.97 71.60 63.97
 ii)Capital Adequacy Ratio(%) -Basel-III16.38 15.74 13.66 15.74
 (a) CET 1 Ratio (%)12.35 11.80 9.98 11.80
 (b)Additional Tier 1 Ratio (%)1.74 1.67 1.22 1.67
 iii)Earnings Per Share    
 (a)Basic EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹] 2.29(1.59)(1.47)3.32
 (b)Diluted EPS before and after Extraordinary items net of tax expenses (not annualized) [in ₹] 2.29(1.59)(1.47)3.32
 iv)NPA Ratios    
    Gross NPA Not Applicable
    Net NPA
    % of Gross NPA
    % of Net NPA
  v)Return on Assets (annualized) %

Consolidate Segment

Un-Audited (Reviewed) Consolidated Segment reporting for the Quarter Ended 30th June 2021
Part A-Business Segments ( ₹ in Lakhs)
Sr. No. Particulars Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021
Un-Audited Audited Un-Audited Audited
1Segment Revenue    
 (a) Treasury Operations672906 666104 653211 2617715
 (b) Wholesale Banking668821 746192 714095 2943155
 (c) Retail Banking729681 801886 733958 2982302
 (d)Other Banking Operations64145 162027 67207 356946
 Total Revenue2135553 2376209 2168471 8900118
2Segment Results    
 (a) Treasury Operations167461 101337 111356 524502
 (b) Wholesale Banking(13912)(14160)(187719)(372484)
 (c) Retail Banking147484 308372 101526 1009253
 (d)Other Banking Operations(13491)42661 820 49468
 Total287542 438210 25983 1210739
 Unallocated Expenditure 124726 138056 133313 564045
 Profit before Tax162816 300154 (107330)646694
 Provision for Tax44162 374233 (39459)491927
 Net Profit118654 (74079)(67871)154767
3Segment Assets    
 (a) Treasury Operations42856742 41908241 39917335 41908241
 (b) Wholesale Banking48562268 52007481 53118016 52007481
 (c) Retail Banking22851990 23655779 22011432 23655779
 (d)Other Banking Operations1087461 908482 822345 908482
 (e) Unallocated1718520 1787596 1816181 1787596
 Total Assets117076981 120267579 117685309 120267579
4Segment Liabilities    
 (a) Treasury Operations39782267 39037307 37346332 39037307
 (b) Wholesale Banking45078487 48444697 49696781 48444697
 (c) Retail Banking21212624 22035234 20593716 22035234
 (d)Other Banking Operations1009448 846246 769379 846246
 (e) Unallocated1595236 1665137 1699205 1665137
 Total Liabilities108678062 112028621 110105413 112028621
5Capital Employed    
 (a) Treasury Operations3074475 2870934 2571003 2870934
 (b) Wholesale Banking3483781 3562784 3421235 3562784
 (c) Retail Banking1639366 1620545 1417716 1620545
 (d)Other Banking Operations78013 62236 52966 62236
 (e) Unallocated123284 122459 116976 122459
 Total Capital Employed8398919 8238958 7579896 8238958
      
Part- B : Geographic Segments
Sr. No. Particulars Quarter Ended Year Ended
30.06.2021 31.03.2021 30.06.2020 31.03.2021
Un-Audited Audited Un-Audited Audited
1Revenue    
 (a) Domestic 1995421 2218064 1982049 8259358
 (b) International140132 158145 186422 640760
 Total2135553 2376209 2168471 8900118
2Assets    
 (a) Domestic 96503884 98816417 95907232 98816417
 (b) International20573097 21451162 21778077 21451162
 Total117076981 120267579 117685309 120267579

Consolidate SEBI Notes June 2021-22

  • 1. The above consolidated financial results of Bank of Baroda (hereinafter referred as “Bank”) including Subsidiaries (hereinafter referred as “Group”), Joint Ventures and Associates have been recommended by the Audit Committee of Board and approved at the meeting of the Board of Directors held on August 7, 2021. The same has been subjected to limited review by Statutory Central Auditors of the Bank in line with the guidelines issued by the Reserve Bank of India and as per SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015.
  • 2. The above consolidated financial results are prepared in accordance with Accounting Standard 25 on “Interim Financial Reporting”, 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”.
  • 3. The Group has continued to follow the same accounting policies and practices in preparation of financial statement for the quarter ended June 30, 2021 as followed in the previous financial year ended March 31, 2021.
  • 4. The above financial results have been arrived at after considering necessary provision for NPAs, Standard Assets , Restructured Assets and Investment Depreciation/Provision, Provisions for contingencies, Employee Benefits, Direct taxes (after adjustment for deferred tax) and for other items/assets are made on estimated basis for the quarter and subject to adjustments, if any, at the year end.
  • 5. In terms of Reserve Bank of India (RBI) guidelines, Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel- III framework are being made available on our website “www.bankofbaroda.com''. These disclosures have not been subjected to review/ audit by Statutory Central Auditors of the Bank.
  • 6. The Consolidated Financial Results comprises the financial results of 7 Domestic Subsidiaries, 7 Overseas Subsidiaries, 4 Associates and 3 Joint Ventures as under :-
    A. SubsidiariesCountry of IncorporationTypePercentage of Holding
    iThe Nainital Bank LimitedIndiaBanking98.57%
    iiBOB Financial Solutions LimitedIndiaNon-Banking100%
    iiiBOB Capital Markets LimitedIndiaNon-Banking100%
    ivBaroda Global Shared Services LimitedIndiaNon-Banking100%
    vBaroda Sun Technologies LimitedIndiaNon-Banking100%
    viBaroda Asset Management India Limited IndiaNon-Banking100%
    viiBaroda Trustee India Private LimitedIndiaNon-Banking100%
    viiiBank of Baroda (Uganda) Limited (consolidated)UgandaBanking80%
     Baroda Capital Markets (Uganda) Limited (Subsidiary of Baroda (Uganda) Limited.UgandaNon-Banking100%
    ixBank of Baroda (Kenya) LimitedKenyaBanking86.70
    xBank of Baroda (Botswana) LimitedBotswanaBanking100%
    xiBank of Baroda (New Zealand) LimitedNew ZealandBanking100%
    xiiBank of Baroda (Guyana) Inc.GuyanaBanking100%
    xiiiBank of Baroda (UK) LimitedUnited KingdomBanking100%
    xivBank of Baroda (Tanzania) LimitedTanzaniaBanking100%
    B. Joint Ventures   
    iIndia Infradebt LimitedIndiaNon-Banking40.99%
    ii IndiaFirst Life Insurance Company LimitedIndiaNon-Banking44%
    iiiIndia International Bank (Malaysia) BhdMalaysiaBanking40%
    C. Associates   
    iBaroda U.P. BankIndiaRRB35%
    iiBaroda Rajasthan Kshetriya Gramin BankIndiaRRB35%
    iiiBaroda Gujarat Gramin BankIndiaRRB35%
    ivIndo Zambia Bank Limited ZambiaBanking20%
  • 7. The The Covid-19 outbreak was declared a global pandemic by the World Health Organization on March 11, 2020 and affected world economy as well as Indian economy. On accounts of continuous volatility in financial market, Bank of Baroda has considered internal and external sources of information including economic forecast and industry report up to date of approval of financial results in determining the impact on various elements of its financial statements including recoverability of advances & provision there on, investment valuation, other assets and liabilities of Bank of Baroda.
    The second wave of the Covid-19 pandemic, where the number of new cases significantly increased in India following the discovery of mutant coronavirus variants in the country, which led to the re-imposition of localized/regional lockdown measures in various parts of the country. The second wave has started to subside from June 2021 onwards and there has been a gradual lifting of lock downs, resulting in an increase in economic activity. The bank is regularly keeping a watch on development & taking proactive measures to mitigate the challenges posed by this second wave.
    Given the uncertainty because of COVID -19 pandemic, the Bank is continuously monitoring any material change in future economic conditions which may impact the Bank’s operations and its financial results depending on the developments which may differ from that estimated as the date of approval of these financial results.
    In View of the uncertainties created by the resurgence of the COVID -19 pandemic in India, RBI has announced Resolution Framework 2.0 vide its circular dated May 05, 2021 for resolution of loans to Individuals and Small Businesses along with loans to MSME sector stressed due to COVID-19 pandemic, without a downgrade in the asset classification. In accordance to these, the Bank is required to make higher of the provisions held as per the extant IRAC norms immediately before implementation, or 10 percent of the residual debt.
  • 8. As per the RBI Circular No. DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019, RBI circular No DOR. No BP. BC. 34/21.04.048/2019-20 dated 11.02.2020, RBI circular No DOR. No BP. BC/4/21.04.048/2020-21 dated 06.08.2020, 127866 MSME borrower accounts were restructured amounting to ₹ 920245 Lakhs as on June 30, 2021.
  • 9. As per the Reserve Bank of India (RBI) circular no. RBI/2015-16/376 DBR No. BP.BC.92/21.04.048/2015-16 dated April 18, 2016 the Group has opted to provide the liability for frauds over a period of four quarters. Accordingly, the carry forward provision as on June 30, 2021 is ₹ 34945 Lakhs which is to be amortised in the subsequent quarters by the Group.
  • 10. In accordance with the RBI Cir. No. DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 on “Resolution Framework – 2.0: Resolution of COVID – 19 related stress of Individuals and Small Business”, the number of borrower accounts where modification were sanctioned and implemented and the aggregate exposure to such borrowers are as under:- (In ₹ Lakhs)
    No of AccountsAggregate exposure as on 30.06.2021
    873968282
    (Individual covers only Personal Loan segment as per RBI circular No DOR. No. BP.BC/3/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(a) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021. Small Business (including retail trade and wholesale trade) extended to individual which were covered under MSME as per RBI circular No DOR. No. BP.BC/4/21.04.048/2020-21 dated August 6, 2020 and now covered in to para 5(b) of RBI circular No DOR.STR.REC.11/21.04.048/2021-22 dated May 5, 2021.)
  • 11. RBI vide their circular no. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets issued guidelines for implementation of Resolution Plan, also containing requirements of additional provisions as per para 17 of this RBI circular. The total outstanding including NFB and investment in such cases as on June 30, 2021 is ₹ 1446260 Lakhs and in compliance the above RBI circular, the Group has made additional provision of ₹ 37304 Lakhs during the quarter ended June 30, 2021 and holds total provision of ₹ 481430 Lakhs as on June 30, 2021.
  • 12. In accordance with the instructions of RBI circular dated 07.04.2021 on “Asset Classification and Income Recognition following the expiry of COVID 19 regulatory package”, the Bank shall refund/adjust “interest on interest” charged to all borrowers including those who has availed of working capital facilities during moratorium period i.e. 01.03.2020 to 31.08.2020, irrespective of whether moratorium had been fully or partially availed or not availed. Pursuant to these instructions, the methodology for calculation of the amount to be refunded/ adjusted for different facilities has been circulated by the Indian Bank’s Association (IBA) as required by RBI notification. The Group has estimated interest relief of ₹ 50841 Lakhs and reduced the same from interest earned during the quarter ended and year ended 31st March 2021. Amount no longer required on Crystallization of such liability will be credited to interest earned during the quarter ending 30.09.2021.
  • 13. A penalty of ₹ 44.20 Lakhs has been imposed on the Group by Reserve Bank of India for the quarter ended June 30, 2021.
  • 14. In the case of one of the subsidiary Nainital Bank Limited, the management of the subsidiary and the Parent has initiated various steps to improve the controls required as per various regulatory directions in the area of core Banking solution, classification and identification of loan losses and other supervisory functions. The management of Parent Bank does not foresee any material impact over the Group Financial position arising out of the same.
  • 15. Details of Resolution plan implemented in Domestic operations under Resolution Framework for COVID 19 related stress as per RBI circular Circular RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 dated 06. August 2020. Amount (In ₹ Lakhs)
    Type of borrower(A) Number of accounts where resolution plan has been implemented under this window(B) exposure to accounts mentioned at (A) before implementation of the plan(C) Of (B), aggregate amount of debt that was converted into other securities(D) Additional funding sanctioned, if any, including between invocation of the plan and implementation(E) Increase in provisions on account of the implementation of the resolution plan$
    Personal Loans71101025140.000.0010252
    Corporate persons*28867711500944267115483
    Of which, MSMEs8355010.009163642
    Others19251133003926229629
    Total713910627363801253529155364
    *As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016 $ Total Provision held as on 30.06.2021 in the accounts restructured.
  • 16. 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.
  • 17. The comparative figures for quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the financial year 2020 -21 and the published year to date figures up to December 31, 2020 which were subject to limited review.
  • 18. The figures of the previous period have been regrouped/rearranged, wherever necessary, to confirm to the current period classification

LCR-Disclosure-Q1 FY 2021-22 click here

A&L-Standalone

STATEMENT OF ASSETS & LIABILITIES   ( ₹ in Lakhs)
Particulars Standalone
"As on 30th June 2021" "As on 30th June 2020"
Un-Audited Un-Audited
CAPITAL & LIABILITIES  
Capital10355392537
Reserves and Surplus77484027017517
Deposits9313168893446125
Borrowings61603167682744
Other Liabilities and Provisions 50343304986616
Total112178289113225539
ASSETS  
Cash and Balances with Reserve Bank of India42138194017649
Balances with Banks and Money at Call and Short Notice84603796632814
Investments2609429527086515
Advances6683815468667176
Fixed Assets782385869393
Other Assets 57892575951992
Total112178289113225539

A&L-Consolidated

STATEMENT OF ASSETS & LIABILITIES   ( ₹ in Lakhs)
Particulars Standalone
"As on 30th June 2021" "As on 30th June 2020"
Un-Audited Un-Audited
CAPITAL & LIABILITIES  
Capital10355392537
Reserves and Surplus82953657487359
Minority Interest4516141053
Deposits9606924396246735
Borrowings66769538092388
Other Liabilities and Provisions 58867065725237
Total117076981117685309
ASSETS  
Cash and Balances with Reserve Bank of India43679994174710
Balances with Banks and Money at Call and Short Notice91784527439085
Investments2820885228819831
Advances6859775770298491
Fixed Assets802038886648
Other Assets 58994926044153
Goodwill on Consolidation2239122391
Total117076981117685309

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