Bank of baroda

Select Financial Ratios
Fiscal 2003
Fiscal 2004
Fiscal 2005
Six Months ended
September 30, 2005
Earnings per Share (Rs.)
28.23
35.62 25.57 
34.20
(1)
Book Value (Rs.)
(2)
151.44
180.46
199.51
216.13
RoNW (%)
18.64
19.74
12.82
15.82
(1)
(1)
EPS and RoNW have been annualised for the six months ended September 30, 2005.
(2)
Book value per share and RoNW has been calculated without excluding revaluation reserves and provision for
deffered tax from the net worth.
Revenue and Expenses
The types of revenue and expenses are the same for the Group on a consolidated as the Parent on a standalone basis,
except for income and expenses related our credit card operations, asset management operations, merchant banking
operations and housing finance operations.

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280
BANK OF BARODA
Critical Accounting Policies
Consolidation Procedure:
The Consolidated Financial Statements are prepared in accordance with Accounting Standard (AS)-21 “Consolidated
Financial Statements” issued by the Institute of Chartered Accountants of India (ICAI). The financial statements of
the bank and its subsidiaries are combined on a line by line basis by adding together like sums of assets,
liabilities, income and expenses, after eliminating intra-group balances / transactions and resulting unrealised profit
/ loss.
The Financial Statements of Subsidiaries and Associates are adjusted, wherever necessary, to conform to the
Accounting Policies of the Parent.
Investments in Associates are accounted for under the Equity Method as per AS -23 “Accounting for Investments in
Associates in Consolidated Financial Statements” issued by ICAI based on the audited Financial Statements of the
associates.
Minority interest in the Consolidated Financial Statements consists of the share of the minority shareholders in the net
equity of the Subsidiaries.
The Group’s other critical accounting policies are the same as those for the Parent set forth in the section titled
“Managements Discussion and Analysis of Financial Condition and Results of Operations on Unconsolidated Basis-
Critical Accounting Policies” beginning on page 261 of this Red Herring Prospectus.