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

(Rs. in Lacs)

Sr. No.		Particulars	Quarter Ended 31.03.2011 Audited	Quarter Ended 31.03.2010 Audited	Year Ended 31.03.2011 Audited	Year Ended 31.03.2010 Audited
1		Interest earned (a)+(b)+(c)+(d)	633416	435384	2188592	1669834
	(a)	Interest/disc.on advances/bills	458723	324613	1620347	1254122
	(b)	Income on investments	131840	92495	477478	365588
	(c)	Interest on balances with Reserve Bank of India and other inter bank funds	13361	10543	47479	35505
	(d)	Others	29492	7733	43288	14619
2		Other Income	83449	76689	280918	272491
3		Total Income (1 + 2)	716865	512073	2469510	1942325
4		Interest Expended	372028	260889	1308366	1075886
5		Operating Expenses (a) + (b)	150256	96451	462983	381058
	(a)	Employees cost	98971	53179	291678	235088
	(b)	Other operating expenses	51285	43272	171305	145970
6		Total Expenditure (4+5) excluding provisions and contingencies	522284	357340	1771349	1456944
7		Operating Profit before Provisions and Contigencies (3-6)	194581	154733	698161	485381
8		Provisions (other than tax) and Contingencies	59041	37733	133129	69720
9		Exceptional Items	-	8145	-	8145
10		Profit (+)/Loss (-) from Ordinary Activities before tax (7-8+9)	135540	125145	565032	423806
11		Tax expenses	6105	34517	140864	117973
12		Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)	129435	90628	424168	305833
13		Extraordinary items (net of tax expenses)	-	-	-	-
14		Net Profit (+) / Loss (-) for the period (12-13)	129435	90628	424168	305833
15		Paid-up equity share capital (Face Value of Rs.10 each)	39281	36553	39281	36553
16		Reserve excluding Revaluation Reserve	1935782	1341961	1935782	1341961
17		Analytical Ratios
	i)	Percentage of shares held by Government of India	57.03	53.81	57.03	53.81
	ii)	Capital Adequacy Ratio (%)
		As per Basel-I	13.02	12.84	13.02	12.84
		As per Basel-II	14.52	14.36	14.52	14.36
	iii)	Earnings Per Share
		Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.]	35.51	24.88	116.37	83.96
	iv)	NPA Ratios
	a)	Gross NPA	315250	240069	315250	240069
		Net NPA	79088	60232	79088	60232
	b)	% of Gross NPA	1.36	1.36	1.36	1.36
		% of Net NPA	0.35	0.34	0.35	0.34
	v)	Return on Assets (annualized) %	1.51	1.37	1.33	1.21
18		Public Shareholding
	-	No. of shares	168266500	168266500	168266500	168266500
	-	Percentage of shareholding	42.97	46.19	42.97	46.19
19		Promoters and promoter group Shareholding	223279579	196000000	223279579	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	223279579	196000000	223279579	196000000
	-	Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00	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	53.81

Notes forming part of the Audited financial results for the Quarter/ Full Year ended 31st March, 2011

1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 28.04.2011.

2. There has been no change in the Accounting Policies adopted during the quarter/ Full Year ended 31.03.2011 as compared to those followed in the preceeding financial year 2009-10.

3. 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 unrecognised amount of Rs.180.20 crores will be charged proportionately by the end of 31st March, 2012.

4. In accordance with RBI circular no.DBOD.BP.BC.80/21.04.018/2010-11 dated 09.02.2011 one-fifth of the additional pension fund liability of Rs.365.98 crores towards serving employees, who exercised second option and 100% of such liability of Rs.554.14 crores towards retired / separated employees aggregating to Rs.920.12 crores has been reckoned for this year. Unrecognised Pension Fund Liability is Rs.1463.92 crores.

5. The financial results for the full year ended 31st March, 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. The Bank has made an additional ad-hoc provision of Rs.320.08 crores upto December 31, 2010 in certain non-performing domestic advance assets. Further, during the quarter Bank has made a floating provision of Rs.300 crores

6. During the year bank has allotted 2,72,79,579 equity shares of Rs.10/- each at a premium of Rs.892.14, to Govt. of India, as approved by the shareholders in an Extra-Ordinary General Meeting in accordance with regulation 76 (1) of SEBI (Issue of Capital & Disclosure Requirements) Regulations 2009, on preferential basis. The total amount received by the Bank on this account is Rs.2461 crores. Consequently the Government share holding has increased from 53.81% to 57.03%.

7. Non Performing Loan Provisioning Coverage Ratio (Without Tech-Write off) is 74.91% as on 31st March 2011.

8. The Bank has proposed dividend of Rs.753.35 crores (Rs.16.50 per share) which is subject to a notification to be issued to this effect by the Government Of India under Section 53 of Banking Regulation Act, 1949.

9. Status of Investor's complaints :

I)	Pending at the beginning of the quarter	Nil
II)	Received during the quarter	141
III)	Disposed off during the quarter	141
IV)	Pending at the close of the quarter	Nil

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

		(Rs. In 000s)
	As on 31st March 2011	As on 31st Mar. 2010
	Audited	Audited
CAPITAL & LIABILITIES
Capital	392,80,73	365,52,77
Reserves and Surplus	20600,30,46	14740,85,50
Deposits	305439,48,19	241261,92,52
Borrowings	22307,85,48	13350,08,50
Other Liabilities and Provisions	9656,72,68	8598,30,99
TOTAL	358397,17,54	278316,70,28
ASSETS
Cash and Balances with Reserve Bank of India	19868,17,89	13539,96,91
Balances with Banks and Money at Call and Short Notice	30065,88,89	21927,08,85
Investments	71260,63,09	61182,37,54
Advances	228676,36,09	175035,28,59
Fixed Assets	2299,71,83	2284,76,48
Other Assets	6226,39,75	4347,21,91
TOTAL	358397,17,54	278316,70,28

11. 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 /FULL YEAR ENDED 31st MARCH, 2011

Part A: Business Segments
(Rs. in Lacs)

Sr. No.

Particulars

Quarter

Ended

31.03.11

Audited

Quarter

Ended

31.03.10

Audited

Year

Ended

31.03.11

Audited

Year

Ended

31.03.10

Audited

1
Segment Revenue

(a) Treasury Operations 152400 117941 559784 459916

(b) Wholesale Banking 286914 190082 984082 732424

(c) Retail Banking 168127 143536 598340 495691

(d) Other Banking Operations 109424 68659 327304 262439

Total Revenue 716865 520218 2469510 1950470

2
Segment Results

(a) Treasury Operations 16353 18784 88251 104770

(b) Wholesale Banking 19776 53859 152549 158536

(c) Retail Banking 20184 22560 151789 77865

(d) Other Banking Operations 90759 55069 275061 178039

Total 147072 150272 667650 519210

Unallocated expenditure 11532 25127 102618 95404

Profit before Tax 135540 125145 565032 423806

Provision for Tax 6105 34517 140864 117973

Net Profit 129435 90628 424168 305833

3
Capital Employed

(a) Treasury Operations 503442 377089 503442 377089

(b) Wholesale Banking 681669 473105 681669 473105

(c) Retail Banking 316036 244292 316036 244292

(d) Other Banking Operations 583874 403346 583874 403346

(e) Unallocated 14290 12806 14290 12806

Total Capital Employed 2099311 1510638 2099311 1510638