Notes forming part of the un-audited financial results for the Quarter / Nine Months Ended 31st December, 2016
1. 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.
2. 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.
3. 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%.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. Non Performing Loan Provisioning Coverage Ratio is 64.50 % as on 31st December 2016.
10. Details of Investor's complaints for the quarter ended 31.12.2016: Pending at Beginning: 0; Received: 110; Disposed off:110; Closing:0
11. Statement of Assets & Liabilities is as under:-
|(Rs. In Lacs)|
As on 31st December 2016
As on 31st December 2015
|CAPITAL & LIABILITIES|
|Reserves and Surplus||4059655||3953257|
|Other Liabilities and Provisions||2421064||2443548|
|Cash and Balances with Reserve Bank of India||2882355||2256393|
|Balances with Banks and Money at Call and Short Notice||9758396||10636560|
12. The figures of previous period have been regrouped / rearranged, wherever necessary, so as to make them comparable with those of the current period.