Bank of Baroda - India's International Bank - Financials - Quarter/Year ended

(Rs. in Lacs)

Sr. No.		Particulars	Quarter Ended 30.06.2011 Reviewed	Quarter Ended 30.06.2010 Reviewed	Year Ended 31.03.2011 Audited
1		Interest earned (a)+(b)+(c)+(d)	663177	472696	2188592
	(a)	Interest /disc.on advances/bills	507723	356576	1620347
	(b)	Income on investments	135245	102244	477478
	(c)	Interest on balances with Reserve Bank of India and other inter bank funds	16276	10311	47479
	(d)	Others	3933	3565	43288
2		Other Income	64087	61724	280918
3		Total Income (1 + 2)	727264	534420	2469510
4		Interest Expended	433458	286897	1308366
5		Operating Expenses (a) + (b)	110678	94736	462983
	(a)	Employees cost	64538	57673	291678
	(b)	Other operating expenses	46140	37063	171305
6		Total Expenditure (4+5) excluding provisions and contingencies	544136	381633	1771349
7		Operating Profit before Provisions and Contingencies (3-6)	183128	152787	698161
8		Provisions (other than tax) and Contingencies	39105	25133	133129
9		Exceptional Items (Refe Note No.7)	1301	-	-
10		Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9)	142722	127654	565032
11		Tax expenses	39437	41738	140864
12		Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)	103285	85916	424168
13		Extraordinary items (net of tax expenses)	-	-	-
14		Net Profit (+) / Loss (-) for the period (12-13)	103285	85916	424168
15		Paid-up equity share capital (Face Value of Rs.10 each)	39281	36553	39281
16		Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year)	1935782	1341961	1935782
17		Analytical Ratios
	i)	Percentage of shares held by Government of India	57.03	53.81	57.03
	ii)	Capital Adequacy Ratio (%)
		As per Basel-I	12.04	12.35	13.02
		As per Basel-II	13.10	13.25	14.52
	iii)	Earnings Per Share
		Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.]	26.38	23.59	116.37
	iv)	NPA Ratios
	a)	Gross NPA	342546	265742	315250
		Net NPA	102442	71733	79088
	b)	% of Gross NPA	1.46	1.41	1.36
		% of Net NPA	0.44	0.39	0.35
	v)	Return on Assets (annualized) %	1.13	1.19	1.33
18		Public Shareholding
	-	No. of shares	168266500	168266500	168266500
	-	Percentage of shareholding	42.97	46.19	42.97
19		Promoters and promoter group Shareholding	223279579	196000000	223279579
	(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	223279579	196000000	223279579
	-	Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00	100.00	100.00
	-	Percentage of share (as a % of the total share capital of the company)	57.03	53.81	57.03

Notes forming part of the Unaudited financial results for the Quarter ended 30th June, 2011

1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors in their meetings held on 27th July 2011. The same have been subjected to a limited review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by the Reserve Bank of India (RBI) and as per the requirements of the Listing Agreements with the Stock Exchanges.

2. There has been no change in the Accounting Policies adopted during the quarter ended 30th June 2011 as compared to those followed in the preceding financial year 2010-11.

3. In accordance with the Accounting Standard (AS) 15 (Revised) "Employee Benefits" issued by the Institute of Chartered Accountants of India and based on actuarial valuation, out of transitional liability as at 31st March 2007 aggregating to Rs. 901 crores a proportionate sum of Rs. 45.05 crores has been charged to the Profit and Loss Account during the quarter. The unrecognized amount of Rs. 135.15 crores will be charged proportionately by the end of 31st March 2012.

4. Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimate basis.

5. In accordance with RBI circular no. DBOD.BP.BC.80/21.04.018/2010-11 dated 9th February 2011, out of the additional pension fund liability as on 31st March 2011 of Rs. 1829.90 crores towards serving employees who exercised second option, a proportionate sum of Rs. 91.50 crores has been charged to the Profit and Loss Account during the quarter. The unamortized pension fund liability of Rs.1372.43 crores will be charged proportionately in accordance with the directions contained in the said circular.

6. The financial results for the quarter ended 30th June 2011 have been arrived at after considering provision for Non Performing Assets, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI.

7. During the quarter, the Bank has taken over specified Assets & Liabilities of The Memon Co-operative Bank Ltd as per approval granted by RBI vide letter no. UBD.CO.MEROER No. 7814/09.16.901/2010.11 dated 04th March 2011. Out of the deficit of Rs. 156.06 crores arising on said take over, the bank has proportionately charged a sum of Rs. 13 crores being 1/12th of the said deficit to the Profit & Loss Account during the quarter. The balance amount of Rs.143.06 crores will be charged proportionately during the remaining period till Financial Year 2013-14, as approved by RBI vide letter no. DBOD.No.BP.1311/21.04.048/2010-11 dated 25th July 2011.

8. Non Performing Loan Provisioning Coverage Ratio(including technical write off) is 82.52% as on 30th June 2011.Corresponding Ratio as on March 2011 was 85.00%.

9. Status of Investor's complaints :

I)	Pending at the beginning of the quarter	Nil
II)	Received during the quarter	120
III)	Disposed off during the quarter	120
IV)	Pending at the close of the quarter	Nil

10. Statement of Assets & Liabilities is as under:-

		(Rs. in Lacs)
	As on 30 th June 2011	As on 30 th June 2010
	Reviewed	Not reviewed
CAPITAL & LIABILITIES
Capital	3,92,81	3,65,53
Reserves and Surplus	216,16,92	156,01,85
Deposits	3129,42,87	2546,67,78
Borrowings	225,44,35	172,41,05
Other Liabilities and Provisions	123,33,60	99,81,08
TOTAL	3698,30,55	2978,57,29
ASSETS
Cash and Balances with Reserve Bank of India	159,55,97	148,67,83
Balances with Banks and Money at Call and Short Notice	295,83,08	244,75,89
Investments	827,27,85	661,43,86
Advances	2323,40,06	1855,94,56
Fixed Assets	23,12,61	23,18,61
Other Assets	69,10,98	44,56,54
TOTAL	3698,30,55	2978,57,29

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

SEGMENT REPORTING FOR THE QUARTER ENDED 30th JUNE, 2011

Part A - Business Segments
(Rs. in Lacs)

Sr. No.

Particulars

Quarter

Ended

30.06.11

Reviewed

Quarter

Ended

30.06.10

Reviewed

Year

Ended

31.03.11

Audited

1
Segment Revenue

(a) Treasury Operations 152042 123033 559784

(b) Wholesale Banking 301947 205370 984082

(c) Retail Banking 186395 138914 598340

(d) Other Banking Operations 86880 67103 327304

Total Revenue 727264 534420 2469510

2
Segment Results

(a) Treasury Operations 1018 23746 88251

(b) Wholesale Banking 72433 27317 152549

(c) Retail Banking 70369 40720 151789

(d) Other Banking Operations 33354 32003 275061

Total 177174 123786 667650

Unallocated Expenditure 34452 -3868 102618

Profit before Tax 142722 127654 565032

Provision for Tax 39437 41738 140864

Net Profit 103285 85916 424168

3
Capital Employed

(a) Treasury Operations 575992 419029 503442

(b) Wholesale Banking 683402 487950 681669

(c) Retail Banking 325510 242400 316036

(d) Other Banking Operations 589844 431405 583874

(e) Unallocated 26225 15954 14290

Total Capital Employed 2200973 1596738 2099311