Bank of baroda

(Rs. in million except percentages)
As of
March 31, 2003
March 31, 2004
March 31, 2005
September 30, 2005
Tier I capital
31,781.30
33,930.70
39,542.30
42,478.77
Tier II capital
17,839.70
21,818.40
21,222.82
26,657.91
Total capital
49,621.00
55,749.10
60,765.12
69,136.68
Total risk weighted assets
and contingents
392,295.60
400,838.50
481,720.78
540,450.94
Capital adequacy ratios:
Tier I
8.10%
8.47%
8.21%
7.86%
Tier II
4.55%
5.44%
4.40%
4.93%
Total capital ratio
12.65%
13.91%
12.61%
12.79%
Minimum capital ratios
required by the RBI:
Tier I
4.50%
4.50%
4.50%
4.50%
Total capital ratio
9.00%
9.00%
9.00%
9.00%

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BANK OF BARODA
As shown above, our total capital ratio was 12.65% as of March 31, 2003, 13.91% as of March 31, 2004, 12.61% as of
March 31, 2005 and 12.79% as of September 30, 2005. We have been able to maintain the required capital adequacy
ratio prescribed by RBI. As of March, 31, 2004, the CAR improved due to our issuance of Rs. 3,000 million of Tier-II
Bonds. As of March, 2005, the CAR reduced due to an increase in advances coupled with a decrease in our Tier-II
Bonds discounted value. As of September 30, 2005, our CAR improved due to issuance of Rs.. 7,700 million of Tier-II
Bonds. We are consistently reviewing our portfolio mix to maximize our return as well as to maintain the required capital
adequacy ratio.
Financial Condition
Our net assets, which we define as our total assets less our total liabilities, increased by 18.65% from Rs. 40,343.65million
as of March 31, 2003 to Rs. 47,867.90 million as of March 31, 2004, and increased by 11.72% to Rs. 53,479.59 million
as of March 31, 2005. Our net assets as of September 30, 2005 were Rs. 57,577.38 million.
Assets
The following table sets forth the principal components of our assets as of March 31, 2003, March 31, 2004, March 31,
2005 and September 30, 2005: