Bank of baroda

Fiscal Year Ended March 31, 2004 Compared with the Fiscal Year Ended March 31, 2003
Our total income increased by 6.88% from Rs. 73,592.57 million in fiscal 2003 to Rs. 78,660.75 million in fiscal 2004 and
our total expenditure decreased by 4.64% from Rs. 56,426.31 million in fiscal 2003 to Rs. 53,807.85 million in fiscal 2004.
Our operating profit increased by 44.78% from Rs. 17,166.26 million in fiscal 2003 to Rs. 24,852.90 million in fiscal 2004.
Our net profit increased by 26.77% from Rs. 7,627.84 million in fiscal 2003 to Rs. 9,669.96 million in fiscal 2004.
Our total income was higher in fiscal 2004 primarily because of an increase on profit on sale of investments from Rs.
6,315.18 million in fiscal 2003 to Rs. 10,175.30 million in fiscal 2004.
Net Interest Income
Our net interest income increased by 22.26% from Rs. 21,033.64 million in fiscal 2003 to Rs. 25,715.86 million in fiscal
2004. The following table sets forth the components of our net interest income:
Year ended March 31
2004
2005
(in Rs. million)
Interest income
60,975.55
61,470.69
Interest expense
39,941.91
35,754.83
Net interest income
21,033.64
25,715.86
The increase in net interest income was primarily due to a 10.48% decrease in interest expense.
Our average interest earning assets increased by 7.36% from Rs. 716,174.50 million in fiscal 2003 to Rs. 768,852.40
million in fiscal 2004. Our net interest margin increased from 2.94% in fiscal 2003 to 3.34% in fiscal 2004 and our spread
increased from 2.66% in fiscal 2003 to 3.02% in fiscal 2004.
Interest Income
The following table sets forth the components of our interest income:
Year ended March 31
2004
2005
(in Rs. million)
Interest and Discount on advances/bills
30,662.00
28,008.28
Income on Investment
27,032.53
29,321.76
Interest on balance with RBI and other Inter Bank Lending
2,302.78
1,973.69
Interest on Income Tax
47.99
1,110.04
Others
930.26
1,056.93