domain-b financials | Bank of Baroda, unaudited, Quarterly results, 2010

(Rs. in Lacs)

Sr. No.		Particulars	Quarter Ended 31.12.2010 Reviewed	Quarter Ended 31.12.2009 Reviewed	Nine Months Ended 31.12.2010 Reviewed	Nine Months Ended 31.12.2009 Reviewed	Year Ended 31.03.2010 Audited
1		Interest earned (a)+(b)+(c)+(d)	566615	417697	1555177	1234450	1669834
	(a)	Interest/disc.on advances/bills	421220	315715	1161624	929509	1254122
	(b)	Income on investments	127740	91317	345638	273093	365588
	(c)	Interest on balances with Reserve Bank of India and other inter bank funds	11463	7662	34119	24962	35505
	(d)	Others	6192	3003	13796	6886	14619
2		Other Income	67615	65965	197469	195802	272491
3		Total Income (1 + 2)	634230	483662	1752646	1430252	1942325
4		Interest Expended	337389	257574	936338	814997	1075886
5		Operating Expenses (a) + (b)	111721	99593	312727	284607	381058
	(a)	Employees cost	69418	62917	192707	181909	235088
	(b)	Other operating expenses	42303	36676	120020	102698	145970
6		Total Expenditure (4+5) excluding provisions and contingencies	449110	357167	1249065	1099604	1456944
7		Operating Profit before Provisions and Contigencies (3-6)	185120	126495	503581	330648	485381
8		Provisions (other than tax) and Contingencies	30406	24249	74088	31987	69720
9		Exceptional Items	-	-	-	-	8145
10		Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9)	154714	102246	429493	298661	423806
11		Tax expenses	47826	18997	134759	83456	117973
12		Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)	106888	83249	294734	215205	305833
13		Extraordinary items (net of tax expenses)	-	-	-	-	-
14		Net Profit (+) / Loss (-) for the period (12-13)	106888	83249	294734	215205	305833
15		Paid-up equity share capital (Face Value of Rs.10 each)	36553	36553	36553	36553	36553
16		Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year)	1341961	1102166	1341961	1102166	1341961
17		Analytical Ratios
	i)	Percentage of shares held by Government of India	53.81	53.81	53.81	53.81	53.81
	ii)	Capital Adequacy Ratio (%)
		As per Basel-I	11.68	14.30	11.68	14.30	12.84
		As per Basel-II	12.45	14.65	12.45	14.65	14.36
	iii)	Earnings Per Share
		Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.]	29.34	22.85	80.91	59.08	83.96
	iv)	NPA Ratios
	a)	Gross NPA	277025	226027	277025	226027	240069
		Net NPA	74424	48768	74424	48768	60232
	b)	% of Gross NPA	1.32	1.43	1.32	1.43	1.36
		% of Net NPA	0.36	0.31	0.36	0.31	0.34
	v)	Return on Assets (annualized) %	1.34	1.36	1.30	1.20	1.21
18		Public Shareholding
	-	No. of shares	168266500	168266500	168266500	168266500	168266500
	-	Percentage of shareholding	46.19	46.19	46.19	46.19	46.19
19		Promoters and promoter group Shareholding	196000000	196000000	196000000	196000000	196000000
	(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	196000000	196000000	196000000	196000000	196000000
	-	Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00	100.00	100.00	100.00	100.00
	-	Percentage of share (as a % of the total share capital of the company)	53.81	53.81	53.81	53.81	53.81

Notes forming part of the Unaudited financial results for the Quarter/ Nine Months ended 31st December, 2010

1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 28th January, 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 and as per the requirements of the Listing Agreements with the Stock Exchanges.

2. There is no change in the Accounting Policies during the quarter/Nine months ended 31st December, 2010 as compared to the policies adopted in the immediately preceding financial year .

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, Other liabilities on account of foreign currency translation etc is in progress. The impact, if any, on the financial results though not quantified, in the opinion of the management will not be material.

4. As per Accounting Standard (AS) 15 (Revised) "Employee Benefits" issued by the Institute of Chartered Accountants of India and based on actuarial valuation, transitional liability as at 31st March, 2007 was calculated at Rs.901 crores out of which a proportionate sum of Rs.45.05 crores has been charged to the Profit and Loss Account during the quarter. The balance amount of Rs.225.25 crores will be charged proportionately by the end of 31st March, 2012.

5. The financial results for the Nine Months ended 31st December, 2010 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. Further, the Bank has made an additional ad-hoc provision of Rs.320.08 crores (including Rs.66.07 crores for the current quarter) in certain non-performing Domestic Advance Accounts.

6.a. Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis.

6.b. Pending issuance of guidelines by the Regulators in respect of accounting of retirement benefit liability of new pension optees, the Bank is charging the said estimated liability over a period of five years from financial year 2010–11, in line with the past accounting practice. Accordingly, the Bank has proportionately provided Rs.309.56 crores for the nine months ended (including Rs.177.57 crores for the current quarter) 31st December, 2010.

7. Auditors qualification for the year ended 31st March, 2010 have been dealt with as per Note No. 3 above.

8. Status of Investor's complaints :

i	Pending at the beginning of the quarter	Nil
ii	Received during the quarter	122
iii	Disposed off during the quarter	122
iv	Pending at the close of the quarter	Nil

9. Statements of Assets & Liabilities is as under:-

		(Rs. In 000s)
	As on 31st December 2010	As on 31st December 2009
	Reviewed	Unaudited
CAPITAL & LIABILITIES
Capital	365,52,77	365,52,77
Reserves and Surplus	17635,86,75	14663,21,48
Deposits	281511,91,03	215117,05,14
Borrowings	18815,74,13	12296,97,45
Other Liabilities and Provisions	9092,73,45	7911,20,75
TOTAL	327421,78,13	250353,97,59
ASSETS
Cash and Balances with Reserve Bank of India	15423,79,35	10818,47,41
Balances with Banks and Money at Call and Short Notice	25523,19,20	19467,57,62
Investments	71837,37,43	57490,32,08
Advances	207208,77,37	156171,39,37
Fixed Assets	2268,84,60	2350,22,85
Other Assets	5159,80,18	4055,98,26
TOTAL	327421,78,13	250353,97,59

10. The figures of previous period(s) have been regrouped / rearranged wherever necessary so as to make them comparable with those of the current period(s).

SEGMENT REPORTING FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER, 2010

Part A: Business Segments
(Rs. in Lacs)

Sr. No.

Particulars

Quarter

Ended

31.12.10

Reviewed

Quarter

Ended

31.12.09

Reviewed

Nine Months

Ended

31.12.10

Reviewed

Nine Months

Ended

31.12.09

Reviewed

Year

Ended

31.03.10

Audited

1
Segment Revenue

(a) Treasury Operations 147740 110790 407384 341975 459916

(b) Wholesale Banking 260532 183726 697168 542342 732424

(c) Retail Banking 150306 127447 430213 352155 495691

(d) Other Banking Operations 75652 61699 217881 193780 262439

Total Revenue 634230 483662 1752646 1430252 1950470

2
Segment Results

(a) Treasury Operations 22796 17861 71898 85986 104770

(b) Wholesale Banking 56661 12553 132773 104677 158536

(c) Retail Banking 48792 19401 131605 55305 77865

(d) Other Banking Operations 90669 81422 184303 122970 178039

Total 218918 131237 520579 368938 519210

Unallocated expenditure 64204 28991 91086 70277 95404

Profit before Tax 154714 102246 429493 298661 423806

Provision for Tax 47826 18997 134759 83456 117973

Net Profit 106888 83249 294734 215205 305833

3
Capital Employed

(a) Treasury Operations 460616 389116 460616 389116 377089

(b) Wholesale Banking 557430 444262 557430 444262 473105

(c) Retail Banking 283239 257202 283239 257202 244292

(d) Other Banking Operations 482658 393894 482658 393894 403346

(e) Unallocated 16197 18400 16197 18400 12806

Total Capital Employed 1800140 1502874 1800140 1502874 1510638