Bank of baroda

 Total
76,371.40
81,822.30
80,354.40
39,720.80
40,566.50
2
Segment Results
(a) 
Treasury 
Operations
14,287.00
19,605.80
(2,789.00)
5,925.90
1,355.90
(b) Other Banking Operations
9,686.20
7,420.30
13,608.60
3,919.30
6,197.00
 Total
23,973.20
27,026.10
10,819.60
9,845.20
7,552.90
Unallocated 
expenditure
11,408.30
10,637.70
1,212.20
2,128.40
1,017.40
Profit 
before 
Tax
12,564.90
16,388.40
9,607.40
7,716.80
6,535.50
Provision 
for 
Tax
4,210.00
5,941.20
2,107.20
2,458.70
1,520.80
Net Profit
8,354.90
10,447.20
7,500.20
5,258.10
5,014.70
3
Other Information
Segment 
Assets
(a) 
Treasury 
Operations
341,931.80
436,735.40
435,937.30
473,858.80
464,309.10
(b) Other Banking Operations
424,566.40
420,842.50
513,386.10
444,809.50
563,537.80
 Total
766,498.20
857,577.90
949,323.40
918,668.30 1,027,846.90
Unallocated 
Assets
17,046.40
17,315.90
24,682.90
16,950.00
17,322.30
 Total
783,544.60
874,893.80
974,006.30
935,618.30 1,045,169.20
Segment 
Liabilities
(a) 
Treasury 
Operations
344,219.90
429,965.80
427,587.60
474,288.70
462,316.30
(b) Other Banking Operations
366,200.90
358,629.80
441,085.50
374,259.90
489,606.20
 Total
710,420.80
788,595.60
868,673.10
848,548.60
951,922.50
Unallocated 
Liabilities
73,123.80
86,298.20
105,333.20
87,069.70
93,246.70
 Total
783,544.60
874,893.80
974,006.30
935,618.30 1,045,169.20

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230
BANK OF BARODA
Part- B : Geographic Segments
(Rs. in million)
Sr.
Particulars
Year Ended Year Ended Year Ended
Half Year
Half Year
No.
31.03.03
31.03.04
31.03.05
Ended
Ended
30.09.04
30.09.05
1
Revenue
(a) 
Domestic
69,296.60
75,484.40
72,898.20
36,101.00
36,051.30
(b) 
International
7,074.80
6,337.90
7,456.20
3,619.80
4,515.20
 Total
76,371.40
81,822.30
80,354.40
39,720.80
40,566.50
2
Assets
(a) 
Domestic
668,900.10
754,307.30
812,981.90
794,398.30
876,235.10
(b) 
International
114,644.50
120,586.50
161,024.40
141,220.00
168,934.10
 Total
783,544.60
874,893.80
974,006.30
935,618.30
104,569.20
Notes :
(a)
Banking and Other Operations include the Banking Operations of the Parent and Subsidiaries and other
operations comprising Credit Cards, Capital Markets and Asset Management of its Subsidiaries.
(b)
In determining the segment results, the funds transfer pricing mechanism followed by the Parent has been
used.
(c)
Segment revenue represents revenue from external customers.

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231
Annexure – I
III - STATEMENT OF CONSOLIDATED CASH FLOW
(Rs. in million)
Year ended
Year ended
Half Year
31.03.2005
31.03.2004
ended
30.09.05
A.
Cash flow from operating activities:
Net Profit before taxes
9,607.42
16,388.42
6,517.20
Adjustments for:
Depreciation on fixed assets
871.14
805.49
418.54
Amortisation of lease assets
22.94
0.84
0.00
Amortisation of expenses of VRS
1,710.29
1,710.29
0.00
Depreciation on investments (including on matured debentures)
8,098.09
(1,014.61)
2,849.06
Bad debts written-off/provision in respect of non-performing assets
4,789.95
9,843.72
1,514.06
Provision for Standard Assets
93.67
15.98
150.67
Provision for Other items
1,648.56
885.00
(5,82.93)
Profit/(loss) on sale of fixed assets
0.50
0.82
0.25
Payment/provision for interest on subordinated debt(treated separately)
1,673.29
1,544.27
847.67
Dividend received from Subsidiaries/others (treated separately)
(189.65)
(114.70)
(110.97)
Sub total
28,326.19
30,065.52
11,603.54
Adjustments for:
(Increase)/Decrease in investments
7,157.52
(79,514.81)
(11,928.43)
(Increase)/Decrease in advances
(82,966.00)
(7,404.13)
(57,811.40)
(increase)/Decrease in other assets
(7,232.68)
1,845.08
8,382.25
Increase/(Decrease)in borrowings
6,351.89
3,403.38
9,186.31
Increase/(Decrease) in deposits
87,585.78
69,778.54
49,557.39
Increase/(Decrease) in other liabilities and provisions
(17,543.62)
(2,935.24)
(1,464.34)
Direct taxes paid
4,019.14
(8,689.72)
(1,725.38)
Net cash from operating activities (A)
25,698.21
6,548.61
5,799.94
B.
Cash flow from investing activities:
Purchase of fixed assets
(1,677.95)
(1,867.78)
(846.08)
Sale of Fixed Assets
117.36
0.00
47.29
Dividend received from Subsidiaries/others
189.65
114.70
110.97
Net cash from investing activities (B)
(1,370.94)
(1,753.09)
(687.82)
C.
Cash flow from financing activities:
Share capital
0.02
1.83
0.00
Share premium
0.12
25.34
0.00
Dividend
(1,669.56)
(2,150.43)
0.00
Unsecured Redeemable bonds
0.00
3,000.00
7,700.00
Interest paid / payable on unsecured redeemable bonds
(1,673.29)
(1,544.27)
(847.67)
Net cash from financing activities (C)
(3,342.72)
(667.53)
6,852.33
Net increase in cash & cash equivalents (A)+(B)+(C)
20,984.56
4,127.99
11,964.45
Cash and cash equivalents-Opening
75,185.50
71,057.51
96,170.05
Cash and cash equivalents-Closing
96,170.05
75,185.50
108,134.50

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232
BANK OF BARODA
Summary of Accounting Ratios:
Annexure – J
(Rs. in million, except percentages)
Sr.
Particulars
Year Ended
Year Ended
Year Ended
Year Ended
Year Ended
Half Year
Half Year
No.
31st March,
31st March,
31st March,
31st March,
31st March,
Ended
Ended
2001
2002
2003
2004
2005
Sept.04
Sept.05
1
Earnings per Share
Profit after Tax
2647
5377
7,628
9,670
6768
5,063
4,160
Weighted Average
number of equity
shares (No.)
296,000,000
296,000,000
296,000,000
293,261,700
293,265,400
293,263,600
293,265,400
Earning per Share
(Rs.)
8.94
18.17
25.77
32.97
23.08
17.26
14.19
2
Net Asset Value
Share Capital
2,943.38
2,943.39
2,943.42
2,945.26
2,945.27
2,945.26
2,945.27
Total Reserves &
Surplus
30,619.37
35,334.24
40,926.34
48,363.96
53,332.27
53,463.93
57,506.95
Less: Revaluation
Reserves
2,764.48
2,732.11
2,618.43
2,492.7
2,367.55
2,492.60
2360.70
Intangible Assets
-
-
-
-
-
-
-
Deferred Tax Assets
-
-
907.68
948.62
430.41
1,136.01
514.23
Net Worth
30,798.27
35,545.52
40,343.65
47,867.90
53,479.58
52,780.58
57,577.29
3
Return on Net
Worth (%)
8.59%
15.13%
18.91%
20.20%
12.66%
9.59%
7.23%
No. of Shares
296,000,000
296,000,000
296,000,000
293,261,700
293,265,400
293,263,600
293,265,400
4
Book Value per
Share (NAV)
104.05
120.09
136.30
163.23
182.36
179.98
196.33
(Net Worth /
No. of Shares)
$ Half-yearly figures not annualised.
As per the guidelines of Reserve Bank of India, unamortised expenditure on voluntary retirement scheme is not to be
subtracted while computing the amount of Tier I capital in capital adequacy. Similar principle has been applied while
calculating the Net Assets Value / Net Worth

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233
Bank of Baroda - Key Financial Indicators
(Figures in percentages)
Sr.
Particulars
Year Ended Year Ended Year Ended Year Ended Year Ended Half Year Half Year
No.
31st March, 31st March, 31st March, 31st March, 31st March,
Ended
Ended
2001
2002
2003
2004
2005
Sept.04
Sept.05
1
Interest Income / Average
Working Funds (AWF)
9.36%
8.71%
7.94%
7.43%
6.86%
6.87%
6.69%
2
Interest expenses / AWF
6.21%
5.96%
5.20%
4.32%
3.68%
3.81%
3.63%
3
Interest spread / AWF
3.15%
2.75%
2.74%
3.11%
3.18%
3.06%
3.06%
4
Non-Interest Income / AWF
1.15%
1.45%
1.64%
2.08%
1.39%
1.68%
1.03%
5
Operating expenses / AWF
2.61%
2.29%
2.15%
2.18%
2.11%
2.19%
2.20%
6
Cost Income Ratio
60.80%
54.42%
48.99%
42.08%
46.27%
46.06%
53.81%
7
Gross (Operating) profit / AWF
1.69%
1.92%
2.24%
3.00%
2.45%
2.56%
1.89%
8
Net profit / AWF
0.43%
0.79%
0.99%
1.17%
0.72%
1.13%
0.83%
9
Return on Net Worth
8.59%
15.13%
18.91%
20.20%
12.66%
9.59%
7.23%
10
Return on Assets
0.42%
0.76%
1.00%
1.14%
0.71%
1.11%
0.82%
11
Return on Average Assets
0.43%
0.80%
1.04%
1.20%
0.75%
1.05%
0.86%
12
Yield on Advances
10.85%
9.99%
8.88%
7.76%
7.18%
7.26%
7.56%
13
Cost of Deposits
6.96%
6.65%
5.97%
4.96%
4.23%
4.38%
4.24%
14
Dividend payout Ratio
(including Corporate
Dividend Tax)
49.30%
22.02%
25.27%
22.24%
24.67%
0.00%
0.00%
15
Credit — Deposit Ratio
53.97%
58.32%
55.56%
51.17%
55.82%
49.63%
59.94%
16
Credit + Non SLR Investment
(excluding Investments in
Subsidiaries) — Deposit Ratio
65.52%
69.63%
65.50%
62.82%
63.96%
60.34%
69.58%
17
Capital Adequacy Ratio
12.80%
11.32%
12.65%
13.91%
12.62%
13.97%
12.79%
Tier - I
8.49%
7.56%
8.10%
8.47%
8.21%
8.78%
7.86%
Tier - II
4.31%
3.76%
4.55%
5.44%
4.41%
5.19%
4.93%

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234