Bank of Baroda Net Profit Up by 60.4% to Rs 634 crore in Q2, FY10
Asset Quality
Gross NPAs of the Bank marginally increased to Rs 1,956.59 crore as on September 30, 2009 from Rs
1,954.39 crore as on September 30, 2008. However, as a “Per cent to Gross Advances”, the Gross
NPAs declined from 1.62% in September 2008 to 1.30% in September 2009. The Net NPA (%) also
declined from 0.43% to 0.27% on y-o-y basis. The Cash Recovery (in NPA & Prudentially Written
Off Accounts) during H1, FY10 stood at the healthy level of Rs 292.80 crore.
Capital Adequacy
The Bank’s Capital Adequacy Ratio was at 14.67% (as per Basel II) as of September 30, 2009 despite
a growth of 25.4% in the Bank’s loan book. Its Tier 1 too is at the healthy level of 8.86%. During Q2,
FY10, the Bank raised Rs 500 crore by way of Upper Tier II Bonds.
Overseas Business
Currently, the Bank is present in 25 countries through its 76 branches/offices, including 25 branches
of its seven subsidiaries. The Bank opened two new branches during the current year for Trinidad &
Tobago subsidiary. On 1st Sept, 2009 the Bank’s subsidiary in New Zealand was registered as a
bank. The Bank has also received the RBI & the host country approvals from Auckland, Uganda,
UAE, etc. to open new offices during 2009-10.
Technology
The Bank achieved 100.0% CBS implementation in its domestic branches on 19th Sept, 2009. The
Bank’s CBS branches are enabled for inter bank remittances through RTGS and NEFT. The Bank’s
ATM network expanded to 1,198 by end-Sept, 2009. The Bank’s customers enjoy many facilities like
internet banking, phone banking, online money transfer services, etc. The Bank has implemented a
Global Treasury Solution in UK, UAE, Bahamas, Bahrain & Hong Kong. The Global Treasury for
India implementation is in progress and expected to be completed by November, 2009.
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(This is a press release from Bank of Baroda)
