Bank of baroda

BANK OF BARODA
Year ended March 31,
2004
2005
(in Rs. million)
Commission, Exchange and Brokerage
3,578.68
3,792.04
Profit on sale of Land, Buildings and Other Assets (Net)
0.82
0.50
Profit on Exchange Transactions (Net)
1,743.38
1,990.02
Profit on sale of Investments (Net)
10,268.69
5,408.28
Miscellaneous Income
2,648.80
2,587.15
Total other income
18,240.38
13,777.98
Income from commissions, exchange and brokerage increased by 5.96% from Rs. 3,578.68 million in fiscal 2004 to Rs.
3,792.04 million in fiscal 2005. This increase was result of a general growth in our business.
Net profit on the sale of investments decreased by 47.33% from Rs. 10,268.69 million in fiscal 2004 to Rs. 5,408.28
million in fiscal 2005. This decrease was due to a reversal in the interest rate cycle, negatively impacting volumes in the
Indian debt market and our ability to sell our Government of India securities profitably. Net profit from foreign exchange
transactions increased from Rs. 1,743.38 million in fiscal 2004 to Rs. 1,990.02 million in fiscal 2005, mainly due to more
business activity in this area.
Our miscellaneous income, which includes incidental income from services charges, minimum balance charges, up front-
fees and other account keeping fees decreased slightly from Rs. 2,648.80 million in fiscal 2004 to Rs. 2,587.15 million in
fiscal 2005.
Operating Expenses
Total operating expenses increased from Rs. 18.957.67 million in fiscal 2004 to Rs. 20,869.19 million in fiscal 2005. As
a percentage of our total income, operating expenses increased to 26.0% in fiscal 2005 compared with 23.17% in fiscal
2004. Set forth below are the details of our total operating expenses for fiscal 2004 and fiscal 2005.
Year ended March 31,