Bank of baroda

(Rs. in million)
Fiscal 2003
Fiscal 2004
Fiscal 2005
Six months
Six months
ended
ended
September 30,
September 30,
2004
2004
Cash Profits
21,198.09
28,749.61
27,054.98
13,408.89
11,363.82
Deposits
45.619.02
65,259.23
83,661.41
56,665.87
48,382.49
Investments
(63,282.97)
(76,751.83)
(13,45.55)
(21,997.25)
(14,922.86)
Advances
(22,180.75)
(60,12.60)
(82,481.52)
(20,299.23)
(56,819.08)
Cash Flows from Investment Activities
Our net cash flow from investing activities was Rs. (1,062.78) million and Rs. (1,096.17) million in fiscal 2003 and 2004,
respectively. Our net cash from investing activities was Rs. (1,279.09) million in fiscal 2005. Net cash flow from investing
activities was Rs. (183.74) million and Rs. (1,558.97) million the six months ended September 30, 2004 and 2005,
respectively.
Our net cash used in investing activities reflects investments consisting of the purchase of fixed assets and investments
in our Subsidiaries and Associates. Net cash flow from investing activities reflects dividends received from our Subsidiaries
and Associates. During the six months ended September 30, 2005, we made a total investment of Rs. 1,086.55 million in
two of our Subsidiaries, namely BOBCARDS and NBL.
Cash Flows from Financing Activities
Our net cash from financing activities was Rs. (3,426.97) million, (Rs. 676.93) million and (Rs. 3,342.72) million, in fiscal
2003, 2004 and 2005, respectively, and Rs. (838.97) million and Rs. 6,852.33 million for the six months ended September
30, 2004 and 2005, respectively. Our net cash from financing activities fluctuated primarily due to payment of dividends
and corporate tax related to dividends and interest on our Tier II Bonds. Our net cash from financing activities reflects
cash received from the issuance of our Tier II Bonds. We issued Rs. 3,000 million of Tier II Bonds in the first quarter of
fiscal 2004 and Rs. 7,700 million of Tier-II Bonds in the second quarter of current fiscal 2006.
Capital
We are subject to the capital adequacy requirements of the RBI, which are primarily based on the capital adequacy
accord reached by the Basel Committee of the Bank of International Settlements in 1988. We are required to maintain a
minimum ratio of total capital to risk adjusted assets as determined by a specified formula of 9.0%, at least half of which
must be Tier I capital.
Our regulatory capital and capital adequacy ratios based on our restated financial statements were as follows: