Bank of baroda

BANK OF BARODA
Bank of Baroda - Key Financial Indicators
Sr.
Other Key Financial Ratios
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
Employees (number)
46,360
38,899
40,313
39,803
39,529
39,603
39,170
2
Branches (number)
2,669
2,679
2,753
2,730
2,738
2,736
2,733
3
Business per employee
(Rs. in crore)
1.76
2.45
2.52
2.73
3.16
2.93
3.45
4
Average Business per
employee (Rs. in crore)
1.69
2.28
2.43
2.61
2.97
2.96
3.26
5
Gross Profit per employee
(Rs. in lakhs)
2.24
3.37
4.26
6.24
5.82
5.79
4.86
6
Net Profit per employee
(Rs. in lakhs)
0.57
1.38
1.89
2.43
1.71
2.56
2.12
7
Business per branch
(Rs. in crore)
30.53
35.64
36.95
39.77
45.56
42.41
49.44
8
Gross Profit per branch
(Rs. in crore)
0.39
0.49
0.62
0.91
0.84
0.84
0.70
9
Net Profit per branch
(Rs. in crore)
0.10
0.20
0.28
0.35
0.25
0.37
0.30
10
Earnings per share
(Rupees)
8.94
18.17
25.77
32.97
23.08
17.26
14.19
11
Book Value per share
(Rupees)
104.05
120.09
136.30
163.23
182.36
179.98
196.33

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235
Annexure – K
Capitalisation Statement:
(Rs. in million)
Borrowing:
Sep-05
Post Issue
Short Term Debt
11,650.67
11,650.67
Long Term Debt
37,243.80
37,243.80
Total Debt
48,894.47
48,894.47
Share Holders Funds
Equity Share Capital
2,932.65
3,642.65
Add: Forfeited Shares
12.62
12.62
Total Share Capital
2,945.27
3,655.27
Preference Shares
0.00
0.00
Share Premium
7,387.72
**
Reserves & Surplus
47,244.38
**
Total Share Holders’ Funds
57,577.37
**
Long Term Debt Equity Ratio
0.65
**
Notes:
1.
Reserves and Surplus are after excluding revaluation reserve, intangible assets and deferred tax assets
**
As this is an issue by way of book building process, post issue figures are not possible to be ascertained and
therefore not given.

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236
BANK OF BARODA
Annexure L
TAX SHELTER STATEMENT FOR FIVE CONSECUTIVE
FINANCIAL YEARS ENDED 31-03-2005
(Rs. in million, except percentages)
As at March 31
st
2001
2002
2003
2004
2005
Tax Rate
39.55%
35.70%
36.75%
35.875%
36.59%
Income Tax (excluding tax on Book Profit)
1,816.50
2,838.30
4,299.40
5,497.60
3,156.00
Adjustments
-
-
-
-
-
Permanent Differences
-
-
-
-
-
Dividend
(265.80)
(236.60)
(227.00)
(360.00)
(261.80)
Income from House property
(2.10)
(2.90)
(0.20)
(3.00)
(0.00)
Profit/Loss on sale of Fixed Assets
1.30
(11.40)
(0.50)
(1.10)
(0.20)
Wealth tax
5.00
6.00
6.00
5.00
6.00
Allowable expenses not debited to P/L A/c.
(609.40)
(444.60)
(881.40)
(523.40)
(47.80)*
Disallowable expenses
480.60
318.40
264.20
605.50
1067.50*
Income exempt u/s 10
(1,980.00)
(1,453.40)
(1,369.70)
(1,187.70)
(1,403.60)*
Int. on Income Tax Refund
153.80
(382.10)
-
(239.30)
-
TOTAL (A)
(2,216.60)
(2,206.60)
(2,208.60)
(1,704.00)
(639.90)
Timing Difference
-
-
-
-
-
Difference between Tax & Book depreciation
46.60
67.00
222.70
111.30
(34.10)
Disallowance on account of net Provision for
Bad & doubtful debts (foreign)
(234.50)
(53.40)
269.40
(325.20)
23.30
(India)
-
1,089.20
-
(190.00)
(3,189.90)+
Provision for others
-
(246.50)
-
(180.00)
-
TOTAL (B)
(187.90)
856.30
492.10
(583.90)
(3,200.70)
Net Adjustments (A) + (B)
(2,404.50)
1,350.30
(1,716.50)
(2,287.90)
(3,840.60)
Tax Saving thereon
951.00
482.00
630.80
820.80
1,405.30
Note:
1)
Figures in brackets indicate reduction of tax liability.
2)
The above figures have been computed based on accepted additions / disallowances in the Assessment Orders of
the relevant years and / or income tax return filed.
*
The figures are provisional.
+
out of provisions of earlier years.

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237
Annexure – M
(Rs. in million)
Statement of Borrowings:
Financial year ended 31st March
Half Year Ended
2001
2002
2003
2004
2005
Sept-04
Sept-05
Reserve Bank of India
0.00
1,400.00
0.00
0.00
0.00
0.00
0.00
Other Banks
14.57
1,665.45
122.62
91.82
2,811.60
95.34
92.29
IDBI Refinance
14.18
11.03
10.50
14.98
15.83
12.52
6.63
SIDBI Refinance
5,919.25
160.21
3,094.26
67.89
37.54
54.74
43.72
NABARD Refinance
2,568.16
3,689.85
3,025.93
2,171.63
2,196.08
650.76
2,806.69
Other Institutions - CBLO
0.00
0.00
0.00
0.00
1,299.35
5,648.64
8,330.75
Borrowings Outside India
846.56
0.00
0.00
6,404.77 10,047.94
4,870.21 14,914.38
Sub Total
9,362.72
6,926.54
6,253.31
8,751.09 16,408.34 11,332.21 26,194.47
Tier II Bonds
12,000.00 12,000.00 12,000.00 15,000.00 15,000.00 15,000.00 22,700.00
Series II
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
Series III
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
6,000.00
Series IV
0.00
0.00
0.00
3,000.00
3,000.00
3,000.00
3,000.00
Series V
7,700.00
Total
21,362.72 18,926.54 18,253.31 23,751.09 31,408.34 26,332.21 48,894.47

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238
BANK OF BARODA
SELECTED STATISTICAL INFORMATION
The following information should be read together with our financial statements included in this Red Herring Prospectus
as well as the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations
“On an Unconsolidated Basis”. The amounts presented in this section are based on our financial statements prepared in
accordance with Indian GAAP and internally generated statistical data. These amounts do not give effect to the adjustment
to our net profits as a result of the restatement of our unconsolidated financial statements in connection with this Issue.
Average Balance Sheet and Net Interest Margin
The table below presents the average balances for interest-earning assets and interest-bearing liabilities together with
the related interest income and expense amounts, resulting in the presentation of the average yields and cost for each
period. The average balance is the fortnightly average of balances outstanding, as reported to the RBI on Form A. The
average yield on average interest-earning assets is the ratio of interest income to average interest-earning assets. The
average cost on average interest-bearing liabilities is the ratio of interest expense to average interest-bearing liabilities.
The average balances in the table below include gross non-performing assets. We have not recalculated income that is
subject to tax benefit on a tax equivalent basis.
(Rs. in million, except percentages)
Fiscal
2003
2004
2005
Interest
Average
Interest
Average
Interest
Average
Average
Income/
Yield
Average
Income/
Yield
Average
Income/
Yield
balance
expense
cost
balance
expense
cost
balance
expense
cost
Assets:
Advances
345,443
30,662
8.88%
360,971
280,08
7.76%
404,552
29,027
7.18%
Investments
272,639
27,032
9.91%
344,624
293,21
8.51%
390,191
29,890
7.66%
Others
98,093
3,281
3.34%
63,257
4,141
6.55%
80,893
5,397
6.67%
Total interest
earning assets
716,175
60,975
8.51%
768,852
61,470
8.00%
875,636
64,314
7.34%
Fixed assets
6,949
-
-
7,563
-
-
8,380
-
-
Other assets
44,668
-
-
51,152
-
-
53,728
-
-
Total assets
767,792
60,975
7.94%
827,567
61,470
7.43%
937,744
64,314
6.86%
Liabilities:
 
Deposits
632,798
37,754
5.97%
678,090
33,647
4.96%
768,506
32,479
4.23%
Demand deposits
55,185
228
0.41%
53,414
281
0.53
59,023
129
0.22%
Savings deposits
150,752
5,253
3.48%
177,735
5,288
2.98
214,389
6,307
2.94%
Term deposits
426,861
32,273
7.56%
446,941
28,078
6.28
495,094
26,043
5.26%
Borrowings
Unsecured
subordinated
bonds
(“Tier II Bonds”)
12,000
1499
12.49%
15,000
1621
10.81%
15,000
1,673
11.15%
Other borrowings
37,062
689
1.86%
25,050
487
1.94%
21,727
369
1.70%
Total interest
bearing
liabilities
681,860
39,942
5.86%
718,140
35,755
4.98%
805,233
34,521
4.29%

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239
(Rs. in million, except percentages)
Fiscal
2003
2004
2005
Interest
Average
Interest
Average
Interest
Average
Average
Income/
Yield
Average
Income/
Yield
Average
Income/
Yield
balance
expense
cost
balance
expense
cost
balance
expense
cost
Capital and reserves
39,034
-
-
44,535
-
-
49,711
-
-
Other Liabilities
46,898
-
-
64,885
-
-
82,800
-
-
Total liabilities