Notes forming part of the un-audited financial results for the Quarter / Half Year Ended 30th September, 2016
1. 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.
2. 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.
3. 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%.
4. On review of NPA advances portfolio, bank has made additional provision of Rs. 829 Crs during the quarter, over and above the IRAC norms.
5. 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.
6. 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.
7. Non Performing Loan Provisioning Coverage Ratio is 62.95 % as on 30th September 2016.
8. 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.
9. Details of Investor's complaints for the quarter ended 30.09.2016: Pending at Beginning: 0; Received: 169; Disposed off:169; Closing:0
10. Statement of Assets & Liabilities is as under:-
|(Rs. In Lacs)|
As on 30th Sept 2016
As on 30th Sept 2015
|CAPITAL & LIABILITIES|
|Reserves and Surplus||4033967||4284971|
|Other Liabilities and Provisions||2094112||2049676|
|Cash and Balances with Reserve Bank of India||2073220||2396807|
|Balances with Banks and Money at Call and Short Notice||12001769||11081021|
11. The figures of previous period have been regrouped / rearranged, wherever necessary, so as to make them comparable with those of the current period.