Bank of baroda

(in Rs. million)
Payments to and Provisions for Employees
11,711.78
12,944.18
Rent, Taxes and Lighting
1,518.06
1,708.31
Printing and Stationery
197.08
209.90
Advertisement and Publicity
107.72
255.31
Depreciation on Bank’s Property other than Leased Assets
940.70
805.49
Depreciation on Leased Assets
0.80
0.84
Directors’ Fees, Allowances and Expenses
15.76
14.17
Auditors’ Fees and Expenses
(including Branch Auditors’ Fees and Expenses)
129.53
186.62
Law Charges
113.30
120.42
Postages, Telegrams, Telephones etc.
189.87
161.82
Repairs and Maintenance
365.92
418.27
Insurance
383.73
437.63
Other Expenditure
1,709.30
1,694.72
Total Operating Expenses
17,383.54
18,957.67

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BANK OF BARODA
The primary component of our operating expenses was payments to and provision for employees, which increased from
Rs. 11,711.78 million in fiscal 2003 to Rs. 12,944.18 million in fiscal 2004. As a percentage of total income, payments to
and provision for employees increased to 15.82% in fiscal 2004 from 15.36% in fiscal 2003. This marginal increase was
due to a higher provision for staff retirement benefits by the Parent.
Operating Profit
Due to the factors described above, our operating profit before provisions and contingencies increased by 43.78% from
Rs. 18,022.02 million in fiscal 2003 to Rs. 25,911.58 million in fiscal 2004. As a percentage of total income, our operating
profit increased from 23.60% in fiscal 2003 to 31.67% in fiscal 2004.
Provisions and Contingencies
Provisions and contingencies increased by 59.02% from Rs. 9,854.82 million in fiscal 2003 to Rs. 15,671.31 million in
fiscal 2004. The following table sets forth, for the periods indicates, the components of our provisions and contingencies: