|
|
|
MIRA INFORM REPORT
|
Report No. : |
503328 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BANK OF BARODA |
|
|
|
|
Registered
Office : |
Bank of Baroda Building, Mandvi, Vadodara – 390006,
Gujarat |
|
Tel. No.: |
91-22-66985000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of Establishment : |
1908 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4620.931 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
24070903839 |
|
|
|
|
CST No.: |
24570903839 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACB1534F1ZC |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB01794C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1534F |
|
|
|
|
Legal Form : |
Subject is a Government of India Bank. The Bank’s Shares
are traded on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Banking Activities. [Registered Activity] |
|
|
|
|
No. of Employees
: |
52420 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Bank of Baroda (BOB), established in 1908, is amongst the oldest commercial banks in India with a substantial footprint in domestic and international markets. The bank has a pan India presence through a network of 5,434 domestic branches and 10,563 ATMs as on June 30, 2017. BOB has presence in 24 countries through a network of 107 branches/offices. These 107 branches include bank’s 59 overseas branches, 8 subsidiaries having 47 branches and 1 representative office. The rating reflects Bank of Baroda (BOB) majority ownership with Government of India (GOI). The rating also takes into consideration adequate capitalization level along with long track record, pan-India network, overseas presence, comfortable liquidity profile and fair profitability. Trade relations are reported as fair. Business is active. Payments are seems to be regular and as per commitment. In view of the aforesaid, the bank can be considered for
business dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Lower Tier II Bonds (Basel II) = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
October, 2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 13.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-22-66985000)
LOCATIONS
|
Registered / Head Office : |
Bank of |
|
Tel. No.: |
91-265-2330274 |
|
Fax No.: |
91-265-2330824 / 2562445 |
|
E-Mail : |
|
|
Website : |
http://www.bankofbaroda.com |
|
|
|
|
Baroda Corporate
Centre : |
C-26, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66985812 / 66985846 / 66985000 |
|
Fax No.: |
91-22-26526660 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Investor Services
Department : |
3rd Floor, Baroda Corporate Centre, C-26, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Ravi Venkatesan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. P. S. Jayakumar |
|
Designation : |
Managing Director and Chief Financial Officer |
|
|
|
|
Name : |
Mr. Mayank K. Mehta |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Ashok Kumar Garg |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mrs. Papia Sengupta |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Mohammad Mustafa |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajay Kumar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prem Kumar Makkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Gopal Krishan Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Prof. Biju Varkkey |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. R. Narayanaswamy |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bharatkumar D. Dangar |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Usha A. Narayanan |
|
Designation : |
Director |
KEY EXECUTIVES
|
General Managers : |
· Asthana Lalit Mohan · Ghag Suresh Shankar · Mahajan Vipan · Agarwal Sanjaya · Kakkera Venkateswarlu · Gupta Ram Kumar · Srivastava Nagesh Kumar · Sharma Murari Lal · Bhuyan Gagan Bihari · Upreti Navin Chandra · Arora Satish Kumar · Tucker Eric Francis · Mathur Radhakant · Aneja Ashok · Potalapally Narsimha Rao · Patel Mahesh Somabhai · Gupta Kul Bhushan · Kumar Birendra · Samant Sadanand Rajaram · Narinder Kumar Pawar · Kaul Krishen Opinder · Panda Golak Bihari · Kumar Rajendra · Dudeja Vineet Kumar · Mehrotra Prakash Narayan · Patel Kamlesh Ramniklal · Mukhopadhyay Deb Brata · Sharma Rajneesh · Singhal Narendra Kumar · Choudhury Santosh Kumar · Parulkar Arun Deodatta · Rakesh Bhatia · Mahajan Kamal K · Singh Navtej · Kanojia Kuku Ram · Kumar Sanjay · Dhaka Birbal Singh · Gupta Ashok Kumar · Solankee Shankar Ram · Mehta Jayeshkumar Vasantray · Reddy P V Subba · Namdeo Dinesh Kumar · Rao Purnima Satish · N. Jathavethan Nampoothiri - Chief Vigilance Officer |
|
|
|
|
Deputy General
Managers and Head : |
· M. L. Jain · Joydeep Dutta Roy · Satishchandra V. Hardikar · B. P. Sharma · Venugopal N. |
MAJOR SHAREHOLDERS
AS ON March 2018
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
1693847146 |
64.03 |
|
(B) Public |
951668986 |
35.97 |
|
Grand Total |
2645516132 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Central Government/
State Government(s) |
1693847146 |
64.03 |
|
President of
India |
1352490612 |
51.12 |
|
President of
India |
341356534 |
12.90 |
|
Sub Total A1 |
1693847146 |
64.03 |
|
A=A1+A2 |
1693847146 |
64.03 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Mutual Funds/ |
297704027 |
11.25 |
|
ICICI Prudential
Equity Arbitrage Fund |
41433929 |
1.57 |
|
Aditya Birla Sun Life
Trustee Private Limited A/C Aditya Birla Sun Life Resurgent India Fund -
Series 3 |
32655423 |
1.23 |
|
HDFC Trustee Co
Limited A/C HDFC Dual Advantage Fund-II-1160D January 2016 |
103677712 |
3.92 |
|
Alternate
Investment Funds |
1785961 |
0.07 |
|
Foreign Portfolio
Investors |
368663759 |
13.94 |
|
Merrill Lynch
Markets Singapore Pte. Limited |
73126463 |
2.76 |
|
Financial
Institutions/ Banks |
4665005 |
0.18 |
|
Insurance
Companies |
67064419 |
2.54 |
|
Life Insurance
Corporation of India |
59034879 |
2.23 |
|
Any Other
(specify) |
110000 |
0.00 |
|
Overseas
Corporate Bodies |
110000 |
0.00 |
|
Sub Total B1 |
739993171 |
27.97 |
|
Individual share
capital upto INR 0.200 million |
115957166 |
4.38 |
|
Individual share
capital in excess of INR 0.200 million |
8300726 |
0.31 |
|
NBFCs registered
with RBI |
178612 |
0.01 |
|
Any Other
(specify) |
87239311 |
3.30 |
|
Clearing Members |
2977186 |
0.11 |
|
Employees |
2379592 |
0.09 |
|
Foreign Nationals |
6534 |
0.00 |
|
HUF |
2495353 |
0.09 |
|
Bodies Corporate |
50801735 |
1.92 |
|
Non-Resident
Indian (NRI) |
8849288 |
0.33 |
|
Others |
2759504 |
0.10 |
|
Trusts |
16969619 |
0.64 |
|
Others |
500 |
0.00 |
|
Sub Total B3 |
211675815 |
8.00 |
|
B=B1+B2+B3 |
951668986 |
35.97 |
BUSINESS DETAILS
|
Line of Business : |
Banking Activities. [Registered Activity] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
|||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
52420 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
BORROWINGS : |
|
|
Auditors : |
|
|
Name : |
· Wahi and Gupta Chartered Accountants · Rodi Dabir and Company Chartered Accountant · S R Goyal and Company Chartered Accountants · Kalyaniwalla and Mistry LLP Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
· BOB Capital Markets Limited · BOB Cards Limited · The Nainital Bank Limited · Baroda Global Shared Services Limited · Bank of Baroda (Kenya) Limited · Bank of Baroda (Uganda) Limited · Bank of Baroda (Guyana) Inc. · Bank of Baroda (UK) Limited · Bank of Baroda (Tanzania) Limited · Baroda Capital Markets (Uganda) Limited (Subsidiary of Bank of Baroda Uganda Limited) · BOB Trinidad and Tobago Limited · Bank of Baroda (Ghana) Limited · Bank of Baroda (New Zealand) Limited · Bank of Baroda (Botswana) Limited |
|
|
|
|
Associates : |
· Baroda Uttar Pradesh Gramin Bank · Baroda Rajasthan Kshetriya Gramin Bank · Baroda Gujarat Gramin Bank · Baroda Pioneer Asset Management Company Limited · Indo Zambia Bank Limited · Baroda Pioneer Trustee Company Private Limited |
|
|
|
|
Joint Ventures : |
· India First Life Insurance Company Limited · India International Bank (Malaysia) Bhd. · India Infradebt Limited |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000000 |
Equity Shares |
INR 2/- each |
INR 30000.000 Million |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2317827098 |
Equity Shares |
INR 2/- each |
INR 4635.654 Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2304159598 |
Equity Shares |
INR 2/- each |
INR 4608.319 Million |
|
|
Add : Forfeited Shares |
|
INR 12.612 Million |
|
|
|
|
|
|
|
Total |
|
INR
4620.931 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET – (STANDALONE)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
CAPITAL &
LIABILITIES |
|
|
|
|
Capital |
4620.931 |
4620.931 |
4435.604 |
|
Reserves and Surplus |
398411.602 |
397368.922 |
393917.872 |
|
Deposits |
6016751.729 |
5740378.722 |
6175595.233 |
|
Borrowings |
306114.400 |
334717.002 |
352642.804 |
|
Other Liabilities and Provisions |
222855.573 |
236679.192 |
223293.967 |
|
|
|
|
|
|
Total |
6948754.235 |
6713764.769 |
7149885.480 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Cash and Balances with Reserve Bank of India |
227802.133 |
216724.154 |
224885.970 |
|
Balances with Banks & Money at Call & Short Notice |
1276896.992 |
1122279.345 |
1258645.537 |
|
Investments |
1296305.396 |
1204505.210 |
1168122.354 |
|
Advances |
3832592.231 |
3837701.803 |
4280651.389 |
|
Fixed Assets |
57583.734 |
62537.756 |
28748.480 |
|
Other Assets |
257573.749 |
270016.501 |
188831.750 |
|
|
|
|
|
|
Total |
6948754.235 |
6713764.769 |
7149885.480 |
|
|
|
|
|
|
Contingent Liabilities |
2525189.605 |
2289771.633 |
2463847.181 |
|
Bills for Collection |
375994.185 |
323437.434 |
376080.625 |
PROFIT
& LOSS ACCOUNT – (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest earned |
421999.298 |
440612.774 |
429635.570 |
|
|
|
Other Income |
67580.609 |
49988.616 |
44019.950 |
|
|
|
TOTAL |
489579.907 |
490601.390 |
473655.520 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Interest Expended |
286865.191 |
313214.257 |
297763.241 |
|
|
|
Operating Expenses |
92964.023 |
89231.371 |
76741.273 |
|
|
|
Provisions & Contingencies |
95919.333 |
142111.135 |
65166.653 |
|
|
|
TOTAL |
475748.547 |
544556.763 |
439671.167 |
|
|
|
|
|
|
|
|
|
NET PROFIT FOR THE
YEAR |
13831.360 |
(53955.373) |
33984.353 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Statutory Reserve |
3457.839 |
0.000 |
8496.088 |
|
|
|
Capital Reserve |
3536.492 |
0.000 |
1082.060 |
|
|
|
Revenue and Other Reserves |
|
|
|
|
|
|
I) General Reserve |
0.000 |
(53955.373) |
3645.682 |
|
|
|
II) Special Reserve |
0.000 |
0.000 |
10939.021 |
|
|
|
III) Investment Reserve Account |
0.000 |
0.000 |
1304.631 |
|
|
|
IV) Transfer from Excess Appropriation of previous year |
0.000 |
77.884 |
|
|
|
|
Proposed Dividend (including Dividend Tax) |
3327.878 |
0.000 |
8516.871 |
|
|
TOTAL |
3327.878 |
(53877.489) |
33984.353 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
6.00 |
(23.89) |
15.83 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
171938.605 |
(98416.562) |
180210.500 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Interest Earned |
105527.100 |
107533.300 |
113032.400 |
|
Income on Investments |
24269.600 |
24917.800 |
27207.100 |
|
Interest on Balances
With RBI Other Inter Bank Funds |
8446.900 |
7588.700 |
4285.400 |
|
Interest / Discount on
Advances / Bills |
69345.000 |
71457.500 |
75326.800 |
|
Others |
3465.600 |
3569.300 |
6213.100 |
|
Other Income |
15511.500 |
17370.600 |
16730.400 |
|
Total Income |
121038.600 |
124903.900 |
129762.800 |
|
Interest Expended |
71477.600 |
70328.000 |
69092.100 |
|
Operating Expenses |
23079.900 |
24157.500 |
24169.600 |
|
Total Expenditure |
23079.900 |
24157.500 |
24169.600 |
|
Operating Profit Before
Provisions and Contingencies |
26481.100 |
30418.400 |
36501.100 |
|
Exceptional Items |
NA |
NA |
NA |
|
Provisions and
contingencies |
23680.500 |
23293.500 |
34265.100 |
|
Profit Before Tax |
2800.600 |
7124.900 |
2236.000 |
|
Tax |
766.700 |
3571.300 |
1118.200 |
|
Profit After Tax |
2033.900 |
3553.600 |
1117.800 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior period items |
NA |
NA |
NA |
|
Net Profit |
2033.900 |
3553.600 |
1117.800 |
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 149.00/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Capital |
4435.604 |
4620.931 |
4620.931 |
|
Reserves & Surplus |
393917.872 |
397368.922 |
398411.602 |
|
Net
worth |
398353.476 |
401989.853 |
403032.533 |
|
|
|
|
|
|
Borrowings |
352642.804 |
334717.002 |
306114.400 |
|
Total
borrowings |
352642.804 |
334717.002 |
306114.400 |
|
Debt/Equity
ratio |
0.885 |
0.833 |
0.760 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Interest earned |
429635.570 |
440612.774 |
421999.298 |
|
|
|
2.555 |
(4.224) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Interest earned |
429635.570 |
440612.774 |
421999.298 |
|
Net Profit/(Loss) |
33984.353 |
(53955.373) |
13831.360 |
|
|
7.91% |
(12.25%) |
3.28% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
CAPITAL &
LIABILITIES |
|
|
|
|
Capital |
|
4620.931 |
4620.931 |
|
Reserves and Surplus |
|
426054.794 |
420410.694 |
|
Monitory Interest |
|
2325.279 |
1936.907 |
|
Deposits |
|
6172568.665 |
5866904.683 |
|
Borrowings |
|
312420.017 |
338452.257 |
|
Other Liabilities and Provisions |
|
274215.446 |
279465.279 |
|
|
|
|
|
|
Total |
|
7192205.132 |
6911790.751 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Cash and Balances with Reserve Bank of India |
|
239151.347 |
228107.534 |
|
Balances with Banks & Money at Call & Short Notice |
|
1301998.649 |
1141883.005 |
|
Investments |
|
1407164.332 |
1288940.570 |
|
Advances |
|
3922622.965 |
3914859.853 |
|
Fixed Assets |
|
59296.750 |
63591.715 |
|
Other Assets |
|
261971.089 |
274408.074 |
|
|
|
|
|
|
Total |
|
7192205.132 |
6911790.751 |
|
|
|
|
|
|
Contingent Liabilities |
|
2533946.014 |
2298069.561 |
|
Bills for Collection |
|
376808.125 |
324421.200 |
PROFIT
AND LOSS ACCOUNTS– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
444734.514 |
457989.902 |
|
|
|
Other Income |
|
79367.778 |
59921.752 |
|
|
|
TOTAL |
|
524102.292 |
517911.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Interest Expended |
|
295957.270 |
321074.403 |
|
|
|
Operating Expenses |
|
103498.038 |
99624.187 |
|
|
|
Provisions & Contingencies |
|
106872.853 |
147743.939 |
|
|
|
TOTAL |
|
506328.161 |
568442.529 |
|
|
|
|
|
|
|
|
|
Consolidated Profit
before Minority Interest and share of earning in Associates |
|
17774.131 |
(50530.875) |
|
|
|
|
|
|
|
|
|
|
Share of earnings in Associates |
|
775.678 |
200.930 |
|
|
|
Consolidated Net Profit for the year before deducting Minority interest |
|
18549.809 |
(50329.945) |
|
|
|
|
|
|
|
|
|
|
Less : Minority Interest |
|
400.036 |
346.877 |
|
|
|
Consolidated Profit
for the year attributable to the group |
|
18149.773 |
(50676.822) |
|
|
|
Balance in Profit and Loss A/c brought forward |
|
6190.492 |
5533.997 |
|
|
|
Amount available
for appropriation |
|
24340.265 |
(45142.825) |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Statutory Reserve |
|
4278.665 |
430.832 |
|
|
|
Capital Reserve |
|
3536.492 |
0.000 |
|
|
|
Transfer to Special Reserve u/s 36 (1) (viii) |
|
3529.360 |
21.630 |
|
|
|
Transfer to Revenue and Other Reserves |
|
2187.939 |
(51785.779) |
|
|
|
Proposed Dividend (Including Dividend Tax) |
|
3327.878 |
0.000 |
|
|
|
Balance carried over to consolidated Balance Sheet |
|
7479.931 |
6190.492 |
|
|
TOTAL |
|
24340.265 |
(45142.825) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
7.88 |
(22.44) |
|
LEGAL CASES
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL
PERFORMANCE
The financial year 2016-17
had been a mix of opportunities and challenges. With asset quality challenges
in the banking industry continuing, credit growth has been at multi decade low
of 5.08% during FY 2017 on account of weak corporate demand. Despite the
challenges, Bank performed well during the year leveraging its retail
franchise.
The net interest income
(NII) of the bank increased by 6.07 and to INR 135134.100 million as of March
31, 2017 while other income increased by 35.19% to INR 67580.600 million backed
by 122.05% rise in treasury income to INR 26180.100 million as well as 5.95%
growth in core fee income to INR 38132.200 million. Operating expenses
increased by 4.18% to INR 92964.000 million.
The Bank posted an
operating profit of INR 109750.700 million during FY 2017 registering a growth
of 24.49%. The provision cost (other than taxes) declined significantly by
45.19% to INR 85023.700 million compared to INR 155136.400 million last year
and Bank posted a profit before tax of INR 24727.000 million. After making
provision for tax of INR 10895.600 million, net profit for the year ended March
31, 2017 was INR 13831.400 million.
For the year ended March
31, 2017, the return on average assets was 0.20% while return on equity was
4.53%. The earnings per share (FV INR 2/-) were INR 6.00.
Capital Adequacy Ratio
under Basel III was well above the regulatory requirements at 12.24% as of
March 31, 2017. Tier 1 ratio was at 9.93% and common equity Tier 1 (CET-1) was
at 8.98% under Basel III framework. Bank raised INR 20000.000 million of debt
capital by way of AT-1 bonds in two tranches of INR 10000.000 million each in
December 2016 and March 2017. Bank’s Net Worth as of March 31, 2017 was INR
305198.000 million comprising paid-up equity capital of INR 4620.900 million
and reserves (excluding revaluation reserves, FCTR & Net of Intangible
assets) of INR 300577.100 million. The book value of share (FV INR 2/-) was INR
132.46.
MANAGEMENT DISCUSSION AND
ANALYSIS
BUSINESS ENVIRONMENT
Global economic growth at
3.1% was slightly lower in 2016 compared to 3.2% in 2015. In consonance with
the sluggish economic activity and production, global trade growth in 2016 at
2.3% was lower than the 2.6% observed in 2015. The significant international
developments which had ramifications for the Indian economy in FY 2017 were
Brexit% new administration in US favouring inward looking trade policies, a
historic deal by OPEC and non-OPEC members to cut crude oil production so as to
stabilize oil price, slowing of China and increased geo-political concerns.
However, indications of improvement in global trade and global growth in FY
2018 augur well for the growth prospects for Indian economy.
The defining feature of
Indian economy in FY 2017 was resilient growth despite challenging global
economic environment and transient disruptions in the domestic economy. India’s
economic growth was supported by normal monsoon after two consecutive years,
relatively low levels of inflation, low current account deficit, robust forex
reserves and most significantly, the reform orientation of the government. The
smooth redemption of FCNR(B) deposit pointed to the deft liquidity management
by the Reserve Bank of India.
FY 2017 witnessed
withdrawal INR 500 and INR 1,000 currency notes (specified bank notes (SBNs) as
legal tender, which accounted for 86% of the total value of currency in
circulation and subsequent replenishment with new notes of INR 500 and INR 2000
denomination. The demonetization initiative is expected to have a base
broadening impact for GDP not with standing the transient dip in economic
activity in certain sectors.
The biggest reform in the
area of indirect tax, the GST Bill, was passed in the parliament and steps have
been taken to ensure its implementation on July 1, 2017. Adoption of GST is
expected to be a growth booster by reducing transaction cost, removing the
cascading impact of taxes and taking India closer to a ‘One India-One market’.
In addition, major initiatives were taken to relax FDI investment limits in a
host of sectors including aviation, defence and railways, stepping up
government expenditure to promote infrastructure and the rural economy, which
have helped to sustain the growth momentum.
In another major reform, in
May 2016, the Insolvency and Bankruptcy Code, 2016 was enacted providing an
institutional framework for recovery and resolution in a time bound manner; for
maximization of value of assets and for protection of investors and creditors.
As per second advance
estimates of central statistical organization (CSO) released on February 28,
2017, the Indian economy is estimated to have grown by 7.1% for FY 2017. Food
grains production is estimated at 270.10 million tonnes in 2016-17 registering
growth of 6.7% over the previous year. The index of industrial production (IIP)
showed a mixed trend reflecting weak investment and consumption demand. The
lead indicator, composite PMI which had dropped below 50 during the period from
October-December 2016 again crossed the 50 mark suggesting expansion of
economic activity in February 2017. The composite PMI touched a high of 52.3 in
March 2017 suggesting improvement in private sector activity. The services
sector activity which was affected by the cash crunch during demonetization period,
showed signs of improvement corroborated by high frequency indicators relating
to railway traffic, telephone subscribers, foreign tourist arrivals, passenger
car sales.
The pace of reforms was
sustained throughout FY 2017 which is expected to have a significant bearing on
the sustainable growth prospects of Indian economy. Apart from the passage of
GST and Insolvency and Bankruptcy Code, there were many other significant
reform initiatives that were undertaken such as introduction of the Monetary
Policy Committee with explicit inflation targeting by the Reserve Bank of
India, the merger of Railway Budget with Union Budget for holistic treatment of
government’s revenue and expenses, removing the distinction between plan and
non-plan expenditure in the Union Budget. Apart from these structural reforms,
new initiatives such as Stand-up India, Pradhan Mantri Ujjwala Yojana where
free LPG connections are provided to women from BPL families were launched to
make the growth process more inclusive.
As India charts the path of
higher growth, there are downside risks from the volatility in global financial
markets owing from Monetary Policy normalization by US Federal Reserve, the
protectionism tilt in US, and geo-political risks. Taking into account the
various forces that are shaping Indian economy, both the government as well as
international agencies such as IMF, World Bank and ADB expect the country to
grow by around 7.5% in FY 2018. Achieving still higher sustainable growth rate
would require addressing the maor macroeconomic challenges facing the
Indian economy at the current juncture. These challenges including declining
trend in private sector investments, weak balance sheets of corporates and high
level of stressed assets in the banking sector will have a bearing on the
sustainable growth prospects of Indian economy.
INTERNATIONAL
OPERATIONS
The Bank has international
presence across 24 countries through 107 branches/offices. Bank’s has 59
branches in 15 countries while 47 branches operate through Bank’s 8 Overseas
Subsidiaries. In addition, Bank has one Representative Office in Bangkok. Bank
has two Joint Ventures viz. Indo Zambia Bank Limited in Zambia having 32
branches and India International Bank (Malaysia) Bhd. in Malaysia having one
branch. During FY 2017, the Bank opened two new branches in its overseas
subsidiary in Uganda at Lugazi and in Ghana at Kumasi. In October 2016, Tsim
Sha Tsui (TST) branch in Hong Kong was merged with Central Branch in Hong Kong.
Bank has presence in world’s major financial centers in New York, London,
Singapore, Hong Kong, Brussels and Dubai. Bank has received the license from
RBI and is in the process of opening an International Business Unit (IBU)
branch in India at GIFT SEZ in Gandhinagar, Gujarat.
In the international arena,
the Bank pursues strategy of driving growth and value by meeting the
international banking requirements of Indian corporates; catering to
India-linked cross-border trade flows for Indian and locally incorporated
companies/firms and being preferred Bank for NRIs/ persons of Indian origin. To
drive value, the Bank has plans to improve internal operations by initiatives
such as setting up of a centralized back-office; realigning the structure into
geographic clusters focused on business development while strengthening
controls and compliance; boost local talent in geographies of operations and
building digital capabilities for cost efficiency.
As of March 31, 2017, the
Bank’s total business from international branches was INR 2673180.000 million
and constituted 27.14% of the global business. Total deposits were INR
1615830.000 million while net advances were INR 1057350.000 million. It was a
year of consolidation for the international operations. The operating profit of
international operations stood at INR 20390.000 million and net profit at INR
5600.000 million in FY 2017. Bank has calibrated the growth and reoriented its
strategy of its international operations in line with the new global
environment. It focused on rebalancing the portfolio with a view to shed the
low yielding assets and increasing profitability. The year also saw liquidation
of around INR 100000.000 million of asset portfolio built against special FCNR
(B) deposits scheme in the period from September to November 2013.
As of March 31, 2017, of
the total International loan-book, 48.14% comprised of Buyers’ Credit/BP/BD
portfolio where the exposure was on the banks. 22.53% of the exposure was India
related corporate by way of ECB/ Syndicated Loans. Exposure to non-Indian
entities by way of syndicated loans was at 4.62% and remaining 25.71% exposure
was by way of local credit.
During the year, Bank
repatriated surplus capital funds to the tune of US$ 138 million from the
overseas branches for optimum deployment of the capital.
Bank’s overseas
subsidiaries continued to perform well and have focused on sustaining healthy
asset quality and improved profitability.
The Bank has initiated
steps for consolidating and reorganizing its International operations. It
continued to sharpen its focus on managing the risks in international
operations in the emerging global environment. Bank is also considering
rationalizing its overseas operations including exiting from some centres which
are not strategic in the current environment.
TREASURY OPERATIONS
The Bank operates its
Treasury operations from state of art dealing room at its Corporate Office in
Mumbai. Treasury handles domestic treasury operations and is a prominent player
in various markets e.g. Foreign Exchange, Interest rates, Fixed Income, Money
Market, Derivative, Equity, Currency and Interest Rate Futures and other
alternate asset classes. Bank is offering various services like interest rate
swaps, currency swaps, and currency options, forward contracts through advanced
dealing systems and through Authorized branches dealing in Foreign exchange
across India.
Total size of the Bank’s
Domestic Investment Book as of March 31, 2017 stood at INR 1221690.000 million.
The share of SLR securities in total investments was 89.44%. The per cent of
SLR Securities to NDTL at March 31, 2017 was at 23.57%.
Bank has been able to
capitalize on the opportunity offered by higher yields in the first half of the
year and has added bonds to the portfolio. Bank managed its portfolio
efficiently and maintained average yield on SLR investment as of March 31, 2017
at 7.76 %. During FY 2017, Bank’s realized profit on Sale of Investment and
Foreign exchange earnings are INR 26180.000 million and INR 9760.000 million
respectively and earned INR 126560.000 million as Interest/ Discount.
Bank’s Treasury mid-office
monitors market exposures and limits fixed by the Bank on real time basis. The
Risk management parameters, including Value-at Risk (VAR) are used to measure
market risk on all portfolios. The VAR numbers are regularly back tested for
evaluating the strength of the model. Stress testing is done on various
investments and currency positions.
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER/ NINE MONTHS ENDED 31ST DECEMBER, 2017
(INR In Million)
|
|
PARTICULARS |
Quarter
Ended |
Quarter
Ended |
Nine
months ended |
|
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
|
Reviewed |
Reviewed |
Reviewed |
|
1 |
|
Interest earned (a)+(b)+(c)+(d) |
113032.400 |
107533.300 |
326092.800 |
|
|
(a) |
Interest /discount on advances / bills |
75326.800 |
71457.500 |
216129.300 |
|
|
(b) |
Income on investments |
27207.100 |
24917.800 |
76394.500 |
|
|
(c) |
Interest on balances with Reserve Bank of
India and other inter bank funds |
4285.400 |
7588.700 |
20321.000 |
|
|
(d) |
Others |
6213.100 |
3569.300 |
13248.000 |
|
2 |
|
Other Income |
16730.400 |
17370.600 |
49612.500 |
|
3 |
|
Total Income (1 + 2) |
129762.800 |
124903.900 |
375705.300 |
|
4 |
|
Interest Expended |
69092.100 |
70328.000 |
210897.700 |
|
5 |
|
Operating Expenses (a)+ (b)+ (C) |
241696.000 |
24157.500 |
71407.000 |
|
|
(a) |
Employees cost |
11104.200 |
12131.400 |
33383.800 |
|
|
(b) |
Rent, Taxes & Lighting |
2573.700 |
2590.100 |
7426.500 |
|
|
(c) |
Other operating expenses |
10491.700 |
9436.000 |
30596.700 |
|
6 |
|
Total Expenditure (4+5) excluding
provisions and contingencies |
93261.700 |
94485.500 |
282304.700 |
|
7 |
|
Operating Profit (3-6) before Provisions
and Contingencies |
36501.100 |
30418.400 |
93400.600 |
|
8 |
|
Provisions (other than tax) and
Contingencies |
34265.100 |
23293.500 |
81239.100 |
|
|
of which provisions for Non-performing
Asset |
31552.800 |
18472.200 |
71591.900 |
|
|
9 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
10 |
|
Profit (+) / Loss (-) from Ordinary
Activities before tax (7-8-9) |
2236.000 |
7124.900 |
12161.500 |
|
11 |
|
Provision for Taxes |
1118.200 |
3571.300 |
5456.200 |
|
12 |
|
Net Profit (+) / Loss (-) from Ordinary Activities
after tax (10-11) |
1117.800 |
3553.600 |
6705.300 |
|
13 |
|
Extraordinary items (net of tax expenses) |
0.000 |
0.000 |
0.000 |
|
14 |
|
Net Profit (+) / Loss (-) for the period
(12-13) |
1117.800 |
3553.600 |
6705.300 |
|
15 |
|
Paid-up equity share capital (Face Value of
`2 each) |
4620.900 |
4620.900 |
4620.900 |
|
16 |
|
Reserve excluding Revaluation Reserve |
-- |
-- |
-- |
|
17 |
|
Analytical Ratios |
|
|
|
|
|
i) |
Percentage of shares held by Government of
India |
58.70 |
59.24 |
58.70 |
|
|
ii) |
Capital Adequacy Ratio(%) -Basel-III |
11.55 |
11.64 |
11.55 |
|
|
a |
CET 1 Ratio (%) |
8.28 |
8.39 |
8.28 |
|
|
b |
Additional Tier 1 Ratio (%) |
1.24 |
1.22 |
1.24 |
|
|
iii) |
Earnings Per Share |
|
|
|
|
|
|
Basic and diluted EPS before and after
Extraordinary items, net of tax expenses (not annualized) [In INR] |
0.49 |
1.54 |
2.91 |
|
|
iv) |
NPA Ratios |
|
|
|
|
|
(a) |
Gross NPA |
484804.400 |
463068.300 |
484804.400 |
|
|
|
Net NPA |
198521.500 |
195726.200 |
198521.500 |
|
|
(b) |
% of Gross NPA |
11.31 |
11.16 |
11.31 |
|
|
|
% of Net NPA |
4.97 |
5.05 |
4.97 |
|
|
v) |
Return on Assets (annualized) % |
0.07 |
0.21 |
0.13 |
Notes forming part of
the un-audited financial results for the Quarter/ Nine Months Ended 31st
December, 2017
1. The above financial results have been reviewed by the Audit Committee of Board and approved by the Board of Directors in their meetings held on 9th Feb, 2018. The same have been subjected to a Limited Review by the Statutory Central Auditors of the Bank, in line with the guidelines issued by the Reserve Bank of India (RBI) and as per the requirement of Listing Agreement with Stock Exchanges in India.
2. The above results for the quarter / nine months ended 31st Dec 2017 have been prepared, following the same accounting policies as those followed in the annual financial statements for the year ended 31st March, 2017, except as mentioned in note (7) below.
3. The financial results for the quarter / nine months ended 31st Dec 2017 have been arrived at after considering provision for Non-performing Assets, Standard Assets, Restructured Assets and depreciation / provision for Investments on the basis of prudential norms and specific guidelines issued by the RBI. The Bank has made provision @ 20% on the Secured Sub-standard Advances as against the Regulatory requirement of 15%.
4. In terms of RBI Circular DBOD.BP.BC.2/21.06.201/2013-14 dated 01.07.2013, Banks are required to make Pillar 3 disclosure under Basel- III Capital Regulations. These details are being made available on our website "www.bankofbaroda.com". These disclosures have not been subjected to Review by the auditors.
5. Non-Performing Loan Provisioning Coverage Ratio is 68.03 % as on 31st Dec 2017.
6. In compliance with the RBI circular No.DBR.No.BP.BC.64/21.04.048/2016-17 dated 18.04.2017, bank has made an additional provision of INR 65.700 million for the quarter ended Dec 2017 (INR 1356.700 million for the nine months ended 31st December 2017) in respect of standard advances to stressed sectors of the economy.
7. Due to change in the method of appropriation of recovery in NPA accounts, where recoveries are now being adjusted against interest reversed, unapplied interest and lastly in principal as against the earlier method of adjusting recoveries against interest reversal, principal and then unapplied interest. Additional income of INR 670.000 million (net of tax and provisions) for the quarter and INR 1600.000 (net of tax and provisions) for the nine months ended 31st December 2017 has been recognised.
8. In compliance with RBI directives, during the quarter ended 31st Dec 2017, bank has made a provision of INR 1450.000 million (During the year INR 3080.000 million) under Insolvency and Bankruptcy code (IBC). Remaining INR 8570.000 million will be provided in next quarter as permitted under RBI directions.
9. Details of Investor's complaints for the quarter ended 30.09.2017: Pending at Beginning: 0; Received: 152; Disposed off: 152; Closing:0
10. Statement of Assets & Liabilities is as under:- (INR in million)
|
PARTICULARS |
As
on 31.12.2017 |
|
|
Reviewed |
|
CAPITAL &
LIABILITIES |
|
|
Capital |
4620.900 |
|
Reserves and Surplus |
401750.200 |
|
Deposits |
5732652.300 |
|
Borrowings |
452917.400 |
|
Other Liabilities and Provisions |
236301.900 |
|
T O T A L |
6828242.700 |
|
ASSETS |
|
|
Cash and Balances with Reserve Bank of
India |
223625.700 |
|
Balances with Banks and Money at Call and
Short Notice |
650079.900 |
|
Investments |
1635669.500 |
|
Advances |
3993807.600 |
|
Fixed Assets |
54807.600 |
|
Other Assets |
270252.400 |
|
T O T A L |
6828242.700 |
11. The figures of previous period have been regrouped / rearranged, wherever necessary, so as to make them comparable with those of the current period.
Segment reporting for
the Quarter / Nine Months Ended 31st December, 2017
Part A: Business
Segments
|
|
Particular
|
Quarter
Ended |
Quarter
Ended |
None
months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
Reviewed |
Reviewed |
Reviewed |
|
1 |
Segment Revenue |
|
|
|
|
|
(a) Treasury Operations |
41253.700 |
44287.300 |
129002.900 |
|
|
(b) Wholesale Banking |
45273.400 |
47849.000 |
138671.600 |
|
|
(c) Retail Banking |
39971.000 |
32767.600 |
104766.100 |
|
|
(d)Other Banking Operations |
3264.700 |
0.000 |
3264.700 |
|
|
Total Revenue |
129762.800 |
124903.900 |
375705.300 |
|
2 |
Segment Results |
|
|
|
|
|
(a) Treasury Operations |
6897.200 |
9770.600 |
23851.000 |
|
|
(b) Wholesale Banking |
(2959.600) |
(2939.800) |
(6098.500) |
|
|
(c) Retail Banking |
2318.800 |
5815.600 |
11173.400 |
|
|
(d)Other Banking Operations |
2411.100 |
0.000 |
2411.100 |
|
|
Total |
8667.500 |
12646.400 |
31337.000 |
|
|
Unallocated Expenditure |
6431.600 |
5521.400 |
19175.500 |
|
|
Profit before Tax |
2235.900 |
7125.000 |
12161.500 |
|
|
Provision for Tax |
1118.100 |
3571.400 |
5456.200 |
|
|
Net Profit |
1117.800 |
3553.600 |
6705.300 |
|
3 |
Segment Assets |
|
|
|
|
|
(a) Treasury Operations |
2610346.500 |
2679750.800 |
2610346.500 |
|
|
(b) Wholesale Banking |
2843782.100 |
2789541.800 |
2843782.100 |
|
|
(c) Retail Banking |
1261843.700 |
1183996.800 |
1261843.700 |
|
|
(d)Other Banking Operations |
- |
- |
- |
|
|
(e) Unallocated |
112270.400 |
115868.900 |
112270.400 |
|
|
Total Assets |
6828242.700 |
6769158.300 |
6828242.700 |
|
4 |
Segment Liabilities |
|
|
|
|
|
(a) Treasury Operations |
2454996.200 |
2518124.800 |
2454996.200 |
|
|
(b) Wholesale Banking |
2674539.300 |
2621293.900 |
2674539.300 |
|
|
(c) Retail Banking |
1186747.300 |
1112585.500 |
1186747.300 |
|
|
(d)Other Banking Operations |
.- |
- |
- |
|
|
(e) Unallocated |
105588.800 |
108880.400 |
105588.800 |
|
|
Total Liabilities |
6421871.600 |
6360884.600 |
6421871.600 |
|
5 |
Capital Employed |
|
|
|
|
|
(a) Treasury Operations |
155350.300 |
161626.000 |
155350.300 |
|
|
(b) Wholesale Banking |
169242.800 |
168247.900 |
169242.800 |
|
|
(c) Retail Banking |
75096.400 |
71411.300 |
75096.400 |
|
|
(d)Other Banking Operations |
- |
- |
- |
|
|
(e) Unallocated |
6681.600 |
6988.500 |
6681.600 |
|
|
Total Capital Employed |
406371.100 |
408273.700 |
406371.100 |
Part- B: Geographic
Segments
|
SR. NO. |
PARTICULARS |
Quarter
Ended |
Quarter
Ended |
None
months ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||
|
Reviewed |
Reviewed |
Reviewed |
||
|
1 |
Revenue |
|
|
|
|
|
(a) Domestic |
117111.300 |
112947.300 |
338720.900 |
|
|
(b) International |
12651.500 |
11956.600 |
36984.400 |
|
|
Total |
129762.800 |
124903.900 |
375705.300 |
|
2 |
Assets |
|
|
|
|
|
(a) Domestic |
5194494.600 |
5071729.100 |
5194494.600 |
|
|
(b) International |
1633748.100 |
1697429.200 |
1633748.100 |
|
|
Total |
6828242.700 |
6769158.300 |
6828242.700 |
Notes on Segment
Reporting:
1. As per guidelines of the RBI on compliance with Accounting Standards, the Bank has adopted "Treasury Operations", Wholesale, Retail and "Other Banking Operations" as Primary business segments and "Domestic" and International as secondary / geographic segments for the purpose of compliance with AS-17 on Segment Reporting issued by ICAI.
2. Segment revenue represents revenue from external customers.
3. Capital employed for each segment has been allocated proportionate to the assets of the segment.
4. The figures of previous period / year have been regrouped / rearranged wherever necessary so as to make them comparable with those of the current period.
PRESS RELEASE
BANK OF BARODA RAISES
BENCHMARK LENDING RATE BY 0.1%
April 06, 2018
The bank has
raised marginal cost of funds based lending rate (MCLR) by 0.1 percent to 8.40
percent for 1-year tenure, BoB said in a statement.
A day after RBI opted for status quo in its
monetary policy, state-owned Bank of
Baroda (BoB) hiked benchmark lending rate by 0.1 percent or 10 basis
points, making loans expensive.
The bank has raised marginal cost of funds
based lending rate (MCLR) by 0.1 percent to 8.40 percent for 1-year tenure, BoB
said in a statement.
Similar cut has been made effective in other
tenures, it said.
The revised MCLR benchmarks are effective
April 7, it added.
The hike will push interest rates on home and
other loans linked to one-year MCLR by 10 basis points.
In its first bi-monthly policy review of
2018-19, the Reserve Bank yesterday kept the key interest rate unchanged but
cut the inflation forecast on lower food prices, sparking a rally in stocks and
bond markets.
The Monetary Policy Committee, headed by RBI
Governor Urjit Patel, revised upwards its forecast of real GDP growth from 7.2
percent to 7.4 percent, which the ministry said is "broadly in line with
the forecast in the Economic Survey".
It further said, "Inflation in fourth quarter of 2017-18 has been
revised downwards from 5.1 percent to 4.5 percent.
FIU SLAPS INR 90.000
MILLION FINE ON BANK OF BARODA IN 2015 FOREX REMITTANCE SCAM CASE
April 04, 2018
The FIU has
levied the maximum penalty of Rs 1 lakh, as stipulated under the Prevention of
Money Laundering Act (PMLA), for each instance of "delayed" filing of
Suspicious Transaction Reports (STRs) by the state-owned bank in the case.
The Financial Intelligence Unit (FIU) has
slapped INR 90.000 million
penalty
on Bank of
Baroda for "failing" to adhere to anti-money laundering
norms, and not having an effective system to report suspicious transactions
linked to the INR 60000.000 million
scam
in its Delhi-based branch.
The FIU has levied the maximum penalty of INR
0.100 million, as stipulated
under the Prevention of Money Laundering Act (PMLA), for each instance
of "delayed" filing of Suspicious Transaction Reports (STRs) by
the state-owned bank in the case.
The central financial intelligence
gathering and dissemination agency under the Ministry of Finance is empowered
to investigate and levy penalities on banks and other financial intermediaries,
under the PMLA, if they fail to comply with anti-money laundering procedures.
After about three years of investigation, the
FIU has held that the bank failed on at least five counts in detecting
wrongdoing and instances of money laundering at its branch in Ashok Vihar in
Delhi, where an INR 60000.000 million
forex
remittance scam had been reported in 2015.
"After taking into
consideration all the facts and circumstances of the case, I, in exercise of
the powers conferred upon me under the PMLA impose a total fine of INR 90.000 million on Bank of Baroda (BoB)
which will commensurate the violations committed by the bank," the order
issued by FIU Director Pankaj Kumar Mishra said.
The 48-page order, accessed
by PTI, has been issued on March 27 and the bank has been asked to deposit the
fine within 21 days.
Coming down heavily on BoB,
the order said it had failed to discharge its responsibility as one of the
largest public sector banks of the country.
"BoB is a public
sector enterprise that has responsibility to the nation and as such its sole
motive cannot be profit making. By permitting such unethical and illegal
activities of some of its customers under its watch, as in the instant case,
and not bringing it to the attention of the authorities at the relevant and
material time, the bank has not only failed to comply with its statutory
obligations, but also failed in its task as a public sector enterprise to act
as a torchbearer of the anti-money laundering compliance in the country,"
it said.
The FIU said the bank
failed to have effective internal system in place for disposal of 8,692 alerts,
detecting and reporting suspicious transactions, failure in carrying out
effective customer due diligence in respect of 73 accounts, delayed filing of
8,822 EFT (electronic funds transfer) reports and failure to file EFT reports
in respect of transactions in two separate accounts.
Bank of Baroda was also
held guilty by the FIU for failing to file 63 integrally connected cash
transactions in seven accounts.
The FIU rued that despite
large number of cash transaction reports in respect of four newly opened bank
accounts belonging to one family, none of them were converted into STRs
(suspicious transaction reports).
"As time is essence in
such cases, delayed submission of reports or inaccurate reports is also a
violation of law as much as non-submission," the order said.
It added that STRs were the
"most effective mechanism" to prevent, detect and fight the scourge
of money laundering.
The FIU also rejected the
bank's submission that it acted as a "whistleblower" in the case and
that its effective internal system detected unusual transactions and a spurt in
foreign remittances by different clients at its Ashok Vihar branch, and this
was reported to the CBI and the Enforcement Directorate in 2015.
The central financial
intelligence gathering agency said an earlier RBI fine of INR 50.000 million on
the bank in the case only "reinforces findings of (FIU directors) enquiry
that the bank had failed in its statutory obligations and that too
absymally."
The
probe agencies had termed this case to be an alleged incident of trade-based
money laundering, where accused traders evaded duties and taxes to
generate slush funds in connivance with bank officials. This order can be
challenged by the bank before the Appellate Tribunal of the PMLA within 45 days.
MERRILL LYNCH SELLS
7.31 CRORE SHARES OF BANK OF BARODA
March 29, 2018
On March 28, 2018 Merrill Lynch Markets
Singapore Pte. sold 7,31,26,423 shares of Bank of Baroda
at INR 141.95 on the BSE.
However, Theleme Master Fund bought
7,31,50,000 shares at INR 141.95.
On Wednesday, Bank of Baroda ended at INR
142.20, down INR 1.55, or 1.08 percent on the BSE.
The share touched its 52-week high INR 206.60
and 52-week low INR 128.20 on 26 October, 2017 and 12 March, 2018,
respectively.
Currently, it is trading 31.17 percent below its 52-week high and 10.92
percent above its 52-week low.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.