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FOR Q4 FY 2017 AND FY 2016-17

Highlights (Standalone Basis)

  • Operating profit of INR 3,020 crore in Q4 FY 17, up by 17.42% y-o-y. Full year   FY 17 operating profit was INR 10,975 crore, up by 24.49% y-o-y.

  • Profit after Tax was INR 155 crore in Q4 FY 17, while for full year FY 17, it was INR 1,383 crore.

  • Gross NPA stood at INR 42,719 crore during Q4 FY 17 as against INR 42,642 crore during Q3 FY 17

  • Gross NPA and Net NPA ratios at 10.46% and 4.72% respectively as at March 31, 2017. These are below the levels of June ’16, September ’16 and December ’16.

  • Net NPA level down consistently during last 4 quarters and stood at INR 18,080 crore as on March 31, 2017.

  • Provision Coverage Ratio (PCR) improved consistently during the last 4 quarters and stood at 66.83% as on March 31, 2017.  PCR excluding TWO also improved consistently during the last 3 quarters and stood at 57.68% as on March 31, 2017.

  • Domestic CASA grew by 30.98% (on y-o-y basis) driven by growth in both Current Account and Savings Account deposits.

  • Domestic CASA as percentage of domestic deposits on terminal basis stood at 39.44% as compared to 33.57% as at March 31, 2016. On average basis, Domestic CASA percentage stood at 38.79%.

  • Domestic credit grew by 5.42% on y-o-y basis and 10.99% on q-o-q basis.

  • Continued focus on recovery and collections, portfolio rebalancing in international book and improving profitability.

  • CRAR (Basel III) stood at 12.24% with Tier I ratio of 9.93% and CET1 of 8.98%.

  • Transformation journey on track; Bank of Baroda poised for growth.

MUMBAI 18 MAY, 2017 (GPN) : Bank of Baroda announced its audited results for the Q4 & FY 17, following the approval of its Board of Directors on May 18, 2017.

Results at a Glance (Standalone Basis)
          All figures in INR crore


Quarterly Results

Full Year Results

Q4 FY 17

Q4 FY 16

% Change

FY 17

FY 16



Total Income







Interest Income







Interest Expenses







Net Interest Income







Other Income







Total Expenses







Operating Expenses







of which, Employee Cost







Operating Profit







Provision for NPA







Provision for Tax





Net Profit








The Bank’s Total Business stood at INR 9,84,934 crore as at March 31, 2017 up from INR 9,57,808 crore as at March 31, 2016.


Total Deposits stood at INR 6,01,675 crore as at March 31, 2017 as against INR 5,74,038 crore as at March 31, 2016. Corresponding figures for Average Deposits (based on daily averages) were INR 5,75,645 crore and INR 5,69,514 crore.


Percentage of CASA deposits to total domestic deposits as at March 31, 2017 was 39.44% as against 33.57% as at March 31, 2016.


Total Advances (Net) were INR 3,83,259 crore as at March 31, 2017 against INR 3,83,770 crore as at March 31, 2016. The quarter saw a turnaround in domestic credit growth and domestic advances (net) were INR 2,77,524 crore as at March 31, 2017 against INR 2,50,033 crore as at December 31, 2016.


The Bank’s International Business contributed 27.14% to the Bank’s Total Business against 26.78% as at December 31, 2016.




The Bank’s Total Income stood at INR 12,852 crore in Q4 FY 17. Net Interest Income stood at INR 3,582 crore up by 7.57 % y-o-y. Other Income increased by 11.38% on

y-o-y basis to INR 1,977 crore.




The Bank’s Total Expenses declined by 3.77% (y-o-y basis) to INR 9,832 crore in Q4 FY 17 driven primarily by reduction in interest expenses on by improved liability management. The interest expenses reduced by 5.09% (y-o-y basis) from INR 7,684 crore in Q4 ended March 31, 2016 to INR 7,293 crore in Q4 ended March 31, 2017.




The Bank’s Operating Profit was INR 3,020 crore in Q4 FY 17, up by 17.42% as against INR 2,572 crore in Q4 FY 16.  The Bank posted a Net Profit of INR 155 crore for Q4    FY 17.  




The Net Interest Margin (NIM) for Domestic operations stood at 2.64% while NIM for Global operations stood at 2.19% for FY 17.




Gross NPA (GNPA) of the Bank stood at INR 42,719 crore as on March 31, 2017 as compared to INR 42,642 crore as at December 31, 2016. Gross NPA ratio and Net NPA ratios were below the levels of June ’16, September ’16 and December ’16.  These stood at 10.46% and 4.72% respectively as at March 31, 2017


Net NPA was down consistently during last 4 quarters and stood at INR 18,080 crore as at March 31, 2017.


Total Restructured Standard Assets of the Bank were INR 10,785 crore as at March 31, 2017. The total Stressed Assets (GNPA + Restructured Standard Assets) were 13.10% of the Gross Advances.




Provisions and Contingencies (excluding tax provisions) made by the Bank stood at INR 2,623 crore in Q4 FY 17. Provisions against NPAs/ Bad Debts written off stood at INR 2,425 crore in Q4 FY 17. Provision for tax was INR 242 crore.


The Provision Coverage Ratio (PCR) improved to 66.83% as at March 31, 2017; it has improved consistently during last 4 quarters.

PCR excluding TWO also improved consistently during last 3 quarters and stood at 57.68% as at March 31, 2017.



The CRAR on standalone basis (Basel III) is 12.24% as at March 31, 2017. Out of this, the Tier 1 capital was 9.93% and CET 1 Capital was 8.98%.



The Bank continues to focus on the execution of various strategic initiatives under Project Navoday – a comprehensive business transformation that seeks to deliver a differentiated world-class customer experience enabled by an energized and engaged team.


The Bank’s transformation journey aims at improved market share, quality business growth, portfolio diversification and enhanced fee income, with cutting edge digitization of processes, while ensuring due focus is accorded to compliance and controls.


The Bank has revamped the Corporate Banking vertical by institutionalizing the Relationship coverage model and Credit Processes, enabled with mobile enabled solutions. The Bank has established several strategic partnerships with e-commerce, M-Commerce and Fintech firms to augment the growth of the Retail and MSME Business. The Bank continues to forge alliances with agro players for building a rural banking ecosystem across agro processing, warehouse financing, minor irrigation, market intelligence etc. to augment business and improve the income of the farmers.


The Bank has set up Baroda Global Shared Services Limited, as a Wholly Owned Subsidiary of the Bank to drive large scale digitization and centralization of processes and customer journeys.


The Bank has instituted the Sayajirao Gaekwad Fellowship Programme in support of startup India and standup India initiatives. The Fellowship Programme seeks to encourage young professionals with entrepreneurial ideas to gain a one year experience in the banking and financial services industry and obtain organizational support in development of their start up idea. In addition, the selected Fellows are supporting execution of several strategic initiatives currently underway in the Bank.


The Bank continues its effort on the execution of Project WeLead – a comprehensive leadership development program and Project Anubhuti – to boost employee engagement. The Bank has also unveiled ‘Sparsh Plus’ with the objective of revamping the performance and talent management systems in the Bank, aided by the best-in-class technology and digital tools.


In summary, the Bank’s transformation journey will enable the Bank to enhance shareholder value by focusing on increasing customer and employee satisfaction through higher engagement levels.

Bank of Baroda (“The Bank”) established on July 20, 1908 is an Indian state-owned banking and financial services organization, headquartered in Vadodara (earlier known as Baroda), in Gujarat, India.

Bank of Baroda is one of India’s largest banks with a strong domestic presence spanning 5,422 branches and 10,520 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 107 branches/ offices subsidiaries, spanning 24 countries. The Bank has wholly owned subsidiaries including BOBCARDS and BOB Capital Markets. Bank of Baroda also has joint ventures for life insurance with IndiaFirst Life Insurance and for asset management with Baroda Pioneer Asset Management. The Bank owns 98.57% in The Nainital Bank. The Bank has also sponsored three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.


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Twitter: @bankofbaroda


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About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.


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