domain-b financials | Bank of Baroda, unaudited, Quarterly results, 2011

(Rs. in Lacs)

Sr. No.		Particulars	Quarter Ended 30.09.2011	Quarter Ended 30.09.2010	Half Year Ended 30.09.2011	Half Year Ended 30.09.2010	Year Ended 31.03.2011
			Reviewed		Reviewed		Audited
1		Interest earned (a)+(b)+(c)+(d)	725144	515866	1388321	988562	2188592
	(a)	Interest /discount on advances/bills	548235	383828	1055958	740404	1620347
	(b)	Income on investments	154614	115654	289859	217898	477478
	(c)	Interest on balances with Reserve Bank of India and other inter bank funds	20792	12346	37068	22656	47479
	(d)	Others	1503	4038	5436	7604	43288
2		Other Income	73434	68130	137521	129854	280918
3		Total Income (1 + 2)	798578	583996	1525842	1118416	2469510
4		Interest Expended	468453	312052	901911	598949	1308366
5		Operating Expenses (a) + (b)	116128	106270	226806	201006	462983
	(a)	Employees cost	64661	65616	129199	123289	291678
	(b)	Other operating expenses	51467	40654	97607	77717	171305
6		Total Expenditure (4+5) excluding provisions and contingencies	584581	418322	1128717	799955	1771349
7		Operating Profit before Provisions and Contigencies (3-6)	213997	165674	397125	318461	698161
8		Provisions (other than tax) and Contingencies	48335	18549	87440	43682	133129
9		Exceptional Items	1300	-	2601	-	-
10		Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9)	164362	147125	307084	274779	565032
11		Tax expenses	47754	45195	87191	86933	140864
12		Net Profit (+) / Loss (-) from Ordinary Activities after tax (10-11)	116608	101930	219893	187846	424168
13		Extraordinary items (net of tax expenses)	-	-	-	-	-
14		Net Profit (+) / Loss (-) for the period (12-13)	116608	101930	219893	187846	424168
15		Paid-up equity share capital (Face Value of Rs.10 each)	39281	36553	39281	36553	39281
16		Reserve excluding Revaluation Reserve (as per balance sheet of previous accounting year)	1935782	1341961	1935782	1341961	1935782
17		Analytical Ratios
	i)	Percentage of shares held by Government of India	57.03	53.81	57.03	53.81	57.03
	ii)	Capital Adequacy Ratio (%)	12.73	13.22	12.73	13.22	14.52
	iii)	Earnings Per Share
		Basic and diluted EPS before and after Extraordinary items, net of tax expenses (not annualized) [ in Rs.]	29.78	27.98	56.16	51.57	116.37
	iv)	NPA Ratios
	(a)	Gross NPA	340210	271985	340210	271985	315250
		Net NPA	111858	73129	111858	73129	79088
	(b)	% of Gross NPA	1.41	1.39	1.41	1.39	1.36
		% of Net NPA	0.47	0.38	0.47	0.38	0.35
	v)	Return on Assets (annualized) %	1.23	1.34	1.18	1.27	1.33
18		Public Shareholding
	-	No. of shares	168266500	168266500	168266500	168266500	168266500
	-	Percentage of shareholding	42.97	46.19	42.97	46.19	42.97
19		Promoters and promoter group Shareholding	223279579	196000000	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	196000000	223279579
	-	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)	57.03	53.81	57.03	53.81	57.03

Notes forming part of the Unaudited financial results for the Quarter/ Half year ended 30th September, 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 31st October, 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/ half year ended 30th September, 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 (Rs. 90.10 crores for the half year). The unrecognized amount of Rs. 90.10 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 option for pension, a proportionate sum of Rs.91.50 crores has been charged to the Profit and Loss Account during the quarter(Rs. 183 crores for the Half year). The unamortized pension fund liability of Rs. 1280.93 crores will be charged proportionately in accordance with the directions contained in the said circular.

6. The financial results for the quarter/ half year ended 30th September, 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. Bank has taken over specified Assets & Liabilities of The Memon Co-operative Bank Ltd on 18.04.2011 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 on account of the 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 (Rs. 26 crores for the half year). The balance amount of Rs.130.06 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 81.97% as on 30th September 2011.

9. Details of Investor's complaints for the quarter ended 30th September, 2011: Pending at Beginning - Nil; Received - 135; Disposed off - 135; Closing - Nil

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

		(Rs. In Lacs)
	As on 30th September 2011	As on 30th September 2010
	Reviewed	Reviewed
CAPITAL & LIABILITIES
Capital	3,92,81	3,65,53
Reserves and Surplus	232,54,57	165,86,22
Deposits	3291,85,35	2696,60,16
Borrowings	236,90,65	182,57,24
Other Liabilities and Provisions	107,63,90	80,12,94
TOTAL	3872,87,28	3128,82,09
ASSETS
Cash and Balances with Reserve Bank of India	180,10,97	179,82,00
Balances with Banks and Money at Call and Short Notice	327,61,31	277,71,81
Investments	883,40,32	661,94,26
Advances	2391,20,31	1929,58,56
Fixed Assets	23,09,81	22,93,39
Other Assets	67,44,56	56,82,07
TOTAL	3872,87,28	3128,82,09

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/HALF YEAR ENDED 30th SEPTEMBER, 2011

Part A: Business Segments
(Rs. in Lacs)

Sr. No.

Particulars

Quarter

Ended

30.09.2011

Reviewed

Quarter

Ended

30.09.2010

Reviewed

Half Year

Ended

30.09.2011

Reviewed

Half Year

Ended

30.09.2010

Reviewed

Year

Ended

31.03.2011

Audited

1
Segment Revenue

(a) Treasury Operations 167771 136611 319813 259644 559784

(b) Wholesale Banking 324551 231266 626498 436636 984082

(c) Retail Banking 212012 140993 398407 279907 598340

(d) Other Banking Operations 94244 75126 181124 142229 327304

Total Revenue 798578 583996 1525842 1118416 2469510

2
Segment Results

(a) Treasury Operations (4406) 25356 (3388) 49102 88251

(b) Wholesale Banking 55737 48795 128170 76112 152549

(c) Retail Banking 62322 42092 132691 82812 151789

(d) Other Banking Operations 88089 62698 121443 125012 275061

Total 201742 178941 378916 333038 667650

Unallocated expenditure 37380 31816 71832 58259 102618

Profit before Tax 164362 147125 307084 274779 565032

Provision for Tax 47754 45195 87191 86933 140864

Net Profit 116608 101930 219893 187846 424168

3
Capital Employed

(a) Treasury Operations 641206 453232 641206 453232 503442

(b) Wholesale Banking 687196 507147 687196 507147 681669

(c) Retail Banking 351937 265267 351937 265267 316036

(d) Other Banking Operations 660869 453726 660869 453726 583874

(e) Unallocated 23530 15804 23530 15804 14290

Total Capital Employed 2364738 1695176 2364738 1695176 2099311