Bank of baroda

Year ended March 31,
2004
2005
(in Rs. million)
Commission, Exchange and Brokerage
3,724.06
3,578.68
Profit on sale of Land, Buildings and Other Assets (Net)
20.14
0.82
Profit on Exchange Transactions (Net)
1,437,59
1,743.38
Profit on sale of Investments (Net)
6,314.85
10,268.69
Profit on revaluation of Investments (Net)
22.18
0.00
Miscellaneous Income
2,069.01
2,648.81
Total other income
13,587.83
18,240.38
Income from commissions, exchange and brokerage decreased from Rs. 3,724.06 million in fiscal 2003 to Rs. 3,578.68
million in fiscal 2004. This slight decrease was mainly due to reduction in income from commissions, exchange and
brokerage in Subsidiaries.
Net profit on the sale of investments increased by 62.61% from Rs. 6,314.85 million in fiscal 2003 to Rs. 10,268.69
million in fiscal 2004. This was primarily due to the softening of interest rates in fiscal 2004 and the growth in the
wholesale debt market in India with a good volume of business transacted between market participants.
Net profit from foreign exchange transactions increased from Rs. 1,437.59 million in fiscal 2003 to Rs. 1,743.38 million in
fiscal 2004, due to more business activity in this area.
Miscellaneous income increased by 28.02% from Rs. 2,069.01 million in fiscal 2003 to Rs. 2,648.80 million in fiscal 2004.
This was partly due to an increase in recovery of bad debts written off.
Operating Expenses
Total operating expenses increased by 9.06% from Rs. 17,383.54 million in fiscal 2003 to Rs. 18,957.67 million in fiscal
2004. As a percentage of our total income, operating expenses increased to 23.19% in fiscal 2004 compared with
22.76% in fiscal 2003.
Year ended March 31,
2004
2005