1. The above financial results have been approved by the Board at its meeting held on 27/04/2009. The same has been subjected to audit by the Statutory Central Auditors, as per the Listing Agreements.
2. There has been no change in the Accounting Policies adopted during the quarter /year ended 31.03.2009 as compared to those followed in the preceeding financial year 2007-08.
3. Reconciliation / balancing of debit and credit outstanding entries in various heads of accounts, included in Inter Office Adjustments, NOSTRO, Drafts / TTs payable, Clearing Adjustments, Dividend/ Interest/ Refund Orders Paid / Payable etc is in progress.
4. The financial results for the quarter / full year ended 31.03.09 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for Investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth tax and Fringe Benefit tax) have been made as per Income Tax and Provision for contingencies including for employee benefits considered based on acturial valuation.
5. A sum of Rs.180.20 crores has been charged to Profit and Loss A/c during the year on proportionate basis, of the Transitional liability of Rs.901 crores upto 31.03.2007, as per the Revised Accounting Standard (AS) 15 on Employee Benefits issued by the Institute of Chartered Accountants of India based on actuarial valuation. An amount of Rs.540.60 crores is to be charged proportionately by the end of March 2012.
6. The eighth Bipartite settlement entered into by IBA on behalf of the member banks with All India Unions of workmen / officers expired on 31st October 2007. Pending execution of new agreement, a provision of Rs. 425 crores has been made on estimated basis, as employee cost, of which Rs.325 crores is made during the year (Rs.75 crs during the quarter Mar.09).
7. In terms of Agricultural Debt Waiver and Debt Relief Scheme 2008, framed by the Government of India, the Bank has received first installment of Rs.208.91 crores from Reserve Bank of India against Rs.506.04 crores being loans eligible under debt waiver scheme.
8. Exceptional items Rs.95.01 crores represents profit on winding up of bank's Subsidiary Bank of Baroda (Hongkong)Ltd (Rs69.07 crores) and Profit on sale of 51% holding in BOB AMC Ltd (Rs. 25.94 crores) during the year.
9. During the year 2008-09, the bank has issued Rs.1800.20 crores (Previous year Rs.2703.62 crores including US $ 300 mn- Rs.1203.62 crores by way of MTN Bonds). The bank also redeemed Rs.409.10 crores during the year.
10. During the year the Bank has invested Rs.113.26 crores in Baroda (Newzealand) Ltd., a subsidiary of the Bank.
11. Auditors qualifications for the year ended 31st March 2008 have been dealt with Note no.3 above.
12. The Board has recommended a dividend @ 90% on equity share capital (Rs.9/- per share) for the year '2008-09, subject to approval by members.
13. Status of Investor's complaints :
- Pending at the beginning of the quarter Nil
- Received during the quarter 55
- Disposed off during the quarter 55
- Pending at the close of the quarter Nil
14. The figures of previous period have been regrouped / rearranged wherever necessary to correspond to current period classification.
| Sr.
No. | Particulars | Quarter Ended 31.03.09 | | |
|
|
| Audited | | |
| 1 | | | | |
| | | 118779 | 444229 | 357698 |
| | | 134717 | 524737 | 415659 |
| | | 162978 | 538310 | 396040 |
| | (d) Other Banking Operations | 82767 | 277648 | 217054 |
| | | 499241 | 1784924 | 1386451 |
| 2 | | | | |
| | | 38133 | 101957 | 78879 |
| | | 35950 | 84522 | 17514 |
| | | 9471 | 140650 | 93737 |
| | (d) Other Banking Operations | 65907 | 176939 | 150022 |
| | | 149461 | 504068 | 340152 |
| | | 39987 | 169774 | 119437 |
| | | 109474 | 334294 | 220715 |
| | | 34205 | 111574 | 77163 |
| | | 75269 | 222720 | 143552 |
| 3 | | | | |
| | | 347080 | 347080 | 350171 |
| | | 322525 | 322525 | 320138 |
| | | 280224 | 280224 | 199489 |
| | (d) Other Banking Operations | 317306 | 317306 | 218743 |
| | | 16419 | 16419 | 15852 |
| | | 1283554 | 1283554 | 1104393 |
| Part-B | : Geographic Segments | | | |
| Sr.
No. | Particulars | | | |
|
|
| Audited | Audited | Audited |
| 1 | | | | |
| | | 434305 | 1546520 | 1189514 |
| | | 64936 | 238404 | 196937 |
| | | 499241 | 1784924 | 1386451 |
| 2 | | | | |
| | | 17710626 | 17710626 | 14252003 |
| | | 5030047 | 5030047 | 3707949 |
| | | 22740673 | 22740673 | 17959952 |
Notes on Segment Reporting: - As per guidelines of RBI on compliance with Accounting Standards, 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.
- In determining the segment results, the funds transfer price mechanism followed by the bank has been used.
- Segment revenue represents revenue from external customers.
- Capital employed for each segment has been allocated proportionate to the assets of the segment.
| R K Bakshi
Executive Director | V Santhanaraman
Executive Director | M D Mallya
Chairman & Managing Director |
Place : Mumbai
Date : 27.04.2009 |
