JBFSIR

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

The Journal of Sri Krishna Research & Educational Consortium

JOURNAL ON BANKING FINANCIAL SERVICES & INSURANCE RESEARCH

Internationally Indexed & Listed Referred e-Journal

PRODUCTIVITY AND PROFITABILITY IN BANKING BANK OF BARODA VS ING VYSYA BANK MR. HARSH ANAND
Assignments in Strategic Planning, Operations Management, Business Development with leading organisations in the Banking / Financial Services sectors Research Scholar, MMH College, Ghaziabad

ABSTRACT: The purpose of this paper is to compare the productivity and profitability of Public Sector Banks with that of Private Sector Banks. There is a general notion that staffs of private sector banks perform better than the staff of public sector banks and this study has been conducted to compare the business per employee and profit per employee to the two groups. The study has been done through the comparison of 5 years profit and loss and balance sheet of two banks and A Profile of Banks 2009-10' released by the RBI, Analysis of profit per employee and business per employee showed that Bank of Baroda is doing better than ING Vysya bank and this is mainly because of two reasons; first being the computerisation and the second being the entry of Bank of Baroda in retail loans and SME loans. The retail and SME loans on the one side increase the margins and on the other side are helpful in controlling the NPAs. The public sector banks understand the Indian market better than the private banks. They have a nationwide presence and can follow local sentiments, the general public has greater confidence in the public sector banks. Lastly and more significantly the public sector banks have been able to adapt well post liberalization. They have reduced their work force, outsourced where ever economical and computerize all the banking functions, now even the smallest public sector bank offers ATM/debit cards, RTGS fund transfer, internet banking, telephone banking etc. The staff in public sector banks is now motivated and they realise the importance of a good performance whereas the private bank staff is generally offered contractual employment and therefore, they lack the sense of belongingness with their
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Volume 1, Issue 4 (July, 2011)

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organization, which is generally seen in public sector banks. The DSA (Direct Sales Agent) culture in private sector banks is also tarnishing their image Bank of Baroda is doing quite well and it seems that in coming years also it will be proving itself as the strong pillars of Indian economy. To compare the productivity and profitability of ING Vysya Bank Ltd with Bank of Baroda, their Balance Sheets and Profit Loss Accounts for the last five years have been compared. The study has been done on basis of Ratio Analysis. In financial analysis, ratios are generally used as benchmarks for evaluating a firms position or performance. The absolute values may not provide us meaningful values until and unless they are related to some other relevant information. Ratios represent the relationship between two or more variables. Ratios help to summarize large data to draw qualitative judgments about the firms performance. The common denominator used for developing the various profitability ratios is business volume (deposits + investments + advances). The banks generally calculate spread ratio as % of total assets. The total assets are accounting (Balance sheet) figures, which are based on historical costs and hence are not very suitable to evaluate the current performance of the banks. In order to have a suitable indicator for evaluating current bank performance we are using the volume of business (Advances + Investments + Deposits) in the denominator. It is like using Gross profit ratio (Gross profit / sales) as a substitute for Return on Total Asset (Profit / Total asset) as an indicator of the profitability of a business organisation. The following ratios are being used for measuring the profitability of the banks: 1. 2. 3. 4. Interest earned ratio (R)= Total interest earned / Volume of business Interest paid ratio (P)= Total interest paid / Volume of business Non-interest income ratio (N)= Other Incomes / Volume of business Other operating expenses ratio (O)= Operating expenses / Volume of business

The following equations have been derived from the above ratios: 1. Spread Ratio (S)= Interest earned ratio Interest paid ratio (R-P) 2. Burden Ratio (B)= Other operating expenses ratio Non-interest income ratio(O-N) The profitability ratio is being worked out as follows: Profitability ratio = Spread Ratio Burden Ratio

The following ratios have been calculated for Bank of Baroda

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JBFSIR
Items Interest earned ratio Interest paid ratio Non-intrest income ratio Other operating expenses ratio Spread Ratio Burden Ratio Profitability Ratio

Volume 1, Issue 4 (July, 2011)

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R P N O R-P O-N

2005-06 2006-07 2007-08 2008-09 2009-10 0.037363 0.03698 0.039039 0.038886 0.034987 0.020537 0.022289 0.026112 0.025685 0.022543 0.005973 0.005676 0.006778 0.007106 0.005879 0.01264 0.010448 0.010027 0.009214 0.007985 0.016827 0.014691 0.012927 0.013201 0.012444 0.006667 0.004772 0.003249 0.002109 0.002106 0.01016 0.009919 0.009678 0.011093 0.010338

The following ratios have been calculated for ING Vysya bank Items Interest earned ratio Interest paid ratio Non-intrest income ratio Other operating expenses ratio Spread Ratio Burden Ratio Profitability Ratio R P N O R-P O-N 2005-06 2006-07 2007-08 2008-09 2009-10 0.043738 0.039721 0.04059 0.042959 0.040715 0.026522 0.025749 0.028552 0.0305 0.025581 0.004975 0.008959 0.01011 0.010504 0.011305 0.018576 0.015819 0.014722 0.014815 0.014732 0.017216 0.013971 0.012038 0.012459 0.015134 0.013601 0.00686 0.004612 0.004312 0.003428 0.003615 0.007111 0.007427 0.008148 0.011706

COMPARISON OF PROFITABILITY OF THE TWO BANKS AS PER THESE RATIOS Items ING Vysya Bank Bank of Baroda 2005-06 0.003615 0.01016 2006-07 0.007111 0.009919 2007-08 0.007427 0.009678 2008-09 0.008148 0.011093 2009-10 0.011706 0.010338

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JBFSIR
0.014 0.012 0.01 0.008

Volume 1, Issue 4 (July, 2011)

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ING Vysya Bank 0.006 0.004 0.002 0 2005-06 2006-07 2007-08 2008-09 2009-10 Bank of Baroda

Profitability ratio which is spread ratio minus burden ratio has remained at around 1% for Bank of Baroda during the full study period but in case of ING Vysya Bank it has increased from 0.3% to 1.1%. Productivity is being measured in terms of the outputs (like Business, Deposits, Advances) per input (employee / branch) The following ratios are being used for measuring productivity: 1. 2. 3. 4. 5. 6. Deposit per employee = Total Deposit / Total Staff Advances per employee Ratio = Total Advances / Total Staff Total Business per employee = Total Business / Total Staff Deposit per Branch = Total Deposits / No. of Branches Advances per Branch = Total Advances / No. of Branches Total Business per Branch = Total Business / No. of Branches

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Volume 1, Issue 4 (July, 2011)

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The following ratios have been calculated for Bank of Baroda Items Deposit per employee Advances per employee Total Business per employee Deposits per employee Advances per Branch Total Business per Branch 2005-06 2006-07 2007-08 2008-09 2009-10 2.415588 3.23583 4.080358 5.279829 6.186961 1.545159 2.166123 2.863696 3.931147 4.492685 3.960747 5.401953 6.944054 9.210976 10.67965 33.72776 44.42248 53.43906 65.97975 78.05829 21.57436 29.7372 37.50486 49.12586 56.68232 55.30212 74.15967 90.94392 115.1056 134.7406

The following ratios have been calculated for ING Vysya Bank Items Deposit per employee Advances per employee Total Business per employee Deposits per employee Advances per Branch Total Business per Branch 2005-06 2006-07 2007-08 2008-09 2009-10 2.733702 2.987021 3.583387 4.08955 4.231147 2.097581 2.320031 2.566045 2.753204 3.027482 4.831283 5.307052 6.149431 6.842754 7.258629 34.36856 37.33414 48.59277 52.95532 52.4645 26.37113 28.99758 34.79703 35.65106 37.53955 60.73969 66.33172 83.3898 88.60638 90.00406

1. DEPOSITS PER EMPLOYEE

2005-06 ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

2.733702 2.987021 3.583387 2.415588

4.08955 4.231147

3.23583 4.080358 5.279829 6.186961 (Amount in rupees crore)

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JBFSIR
7 6 5 4

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank 3 2 1 0 2005-06 2006-07 2007-08 2008-09 2009-10 Bank of Baroda

Deposits per employee ING Vysya Bank Bank of Baroda

2005-06 2.733702 2.415588

2009-10 4.231147 6.186961

Absolute change 1.497445 3.771373

% Change 54.77718 156.1265

Deposits per employee in case of ING Vysya Bank have increased by 54.77% whereas in case of Bank of Baroda they have increased by 156.12%. In the year 2005-06 deposit per employee of ING Vysya were more than Bank of Baroda but during the -5- years period of study the picture has totally reversed.

2. ADVANCES PER EMPLOYEE 2005-06 ING Vysya Bank Bank of Baroda 2.097581 1.545159 2006-07 2.320031 2.166123 2007-08 2.566045 2.863696 2008-09 2.753204 2009-10 3.027482

3.931147 4.492685 (Amount in rupees crore)

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JBFSIR
5 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2005-06

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

Advances per employee ING Vysya Bank Bank of Baroda

2005-06 2.097581 1.545159

2009-10 3.027482 4.492685

Absolute change 0.929901 2.947526

% Change 44.33207 190.7588

Advances per employee in case of ING Vysya Bank have increased by 44.33 % whereas in case of Bank of Baroda they have increased by 190.75%. In the year 2005-06 the advances per employee were higher in case of ING Vysya Bank but in the year 2009-10 the advances per employee of Bank of Baroda are approximately 1.5 times those of ING Vysya Bank. 3. TOTAL BUSINESS PER EMPLOYEE

2005-06 ING Vysya Bank Bank of Baroda 4.831283 3.960747

2006-07 5.307052 5.401953

2007-08 6.149431

2008-09 6.842754

2009-10 7.258629

6.944054 9.210976 10.67965 (Amount in rupees crore)

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JBFSIR
12 10 8 6 4 2 0 2005-06

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

Total Business per employee ING Vysya Bank Bank of Baroda

2005-06 4.831283 3.960747

2009-10 7.258629 10.67965

Absolute change 2.427346 6.718903

% Change 50.24226 169.6373

The total business per employee of ING Vysya Bank in the year 2005-06 was 4.83 crores and it rose to 7.25 crores in the year 2009-10 whereas in case of Bank of Baroda, the total business per employee in the year 2005-06 was 3.96 cores and it rose to 10.67 cores in the year 2009-10. The rise in case of ING Vysya Bank was 50.24% whereas the rise in case of Bank of Baroda during these -5- years 169.63%, which again shows that the total business per employee has risen much more in case of Bank of Baroda than in ING Vysya Bank. 4. DEPOSITS PER BRANCH 2005-06 ING Vysya Bank Bank of Baroda 34.36856 33.72776 2006-07 37.33414 44.42248 2007-08 48.59277 2008-09 52.95532 2009-10 52.4645

53.43906 65.97975 78.05829 (Amount in rupees crore)

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JBFSIR
90 80 70 60 50 40 30 20 10 0 2005-06

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

Deposits per Branch ING Vysya Bank Bank of Baroda

2005-06 34.36856 33.72776

2009-10 52.4645 78.0582

Absolute change 18.09594 44.33053

% Change 52.6526 131.4363

Deposits per Branch of ING Vysya during the year 2005-06 were 34.36 crores whereas those of Bank of Baroda were 33.72 cores, which shows that ING Vysya had better productivity but in these -5- years the deposit per branch of ING Vysya grew by 52.65% to Rs.52.46 cores whereas those of Bank of Baroda rose by 131.43% to Rs.42.33 crores. This shows that now Bank of Baroda is more productive than ING Vysya Bank. 5. ADVANCES PER BRANCH 2005-06 ING Vysya Bank Bank of Baroda 26.37113 21.57436 2006-07 28.99758 29.7372 2007-08 34.79703 2008-09 35.65106 2009-10 37.53955

37.50486 49.12586 56.68232 (Amount in rupees crore)

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60 50 40 30 20 10 0 2005-06

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

Advances per Branch ING Vysya Bank Bank of Baroda

2005-06 26.37113 21.57436

2009-10 37.53955 56.68232

Absolute change 11.16842 35.10796

% Change 42.35 162.73

Advances per Branch of ING Vysya Bank in the year 2005-06 were 26.37 crores where those of Bank of Baroda were 21.57 crores which showed that per branch productivity of ING Vysya Bank was better. In the year 2009-10 the Advances per Branch of ING Vysya are Rs.37.53 crores and that of Bank of Baroda are Rs.56.68 crores, this shows that Advances per Branch of ING Vysya Bank has grown by 42.35 % whereas those of Bank of Baroda have grown by 162.73%. 6. TOTAL BUSINESS PER BRANCH

2005-06 ING Vysya Bank Bank of Baroda 60.73969 55.30212

2006-07 66.33172 74.15967

2007-08 83.3898

2008-09 88.60638

2009-10 90.00406

90.94392 115.1056 134.7406 (Amount in rupees crore)

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JBFSIR
160 140 120 100 80 60 40 20 0 2005-06

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

ING Vysya Bank Bank of Baroda

2006-07

2007-08

2008-09

2009-10

Total Business per Branch ING Vysya Bank Bank of Baroda

2005-06 60.73969 55.30212

2009-10 90.00406 134.7406

(Amount in rupees crore) Absolute Change % Change 29.26437 79.43848 48.17 143.64

Total business per branch of ING Vysya Bank was more than that of Bank of Baroda during 2005-06 but year by year the position of Bank of Baroda is improving faster than that of ING Vysya. During the -5- years period of study the total business per branch of Bank of Baroda has increased by 143.64% whereas that of ING Vysya Bank has increased by only 48.17%. CONCLUSION The Bank of Baroda is doing quite well and it seems that in coming years also is will be proving itself to be the strong pillars of Indian economy. The findings in this paper show that the fast growth in productivity and profitability of Bank of Baroda Vs ING Vysya Bank can be summed us as follows 1. The entry of Bank of Baroda in retail loans and SME loans has probably been the main reason for increase in their profit margins and business per employee. The retail and SME loans on the one side increase the margins and on the other side are helpful in controlling the NPAs. 2. The general public has greater confidence in the public sector banks. There is also a greater level of comfort which private banks have yet to gain.

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JBFSIR

Volume 1, Issue 4 (July, 2011)

ISSN 2231-4288

3. Lastly and more significantly the public sector banks have been able to adapt well post liberalization. They have reduced their work force, outsourced where ever economical and computerize all the banking functions. Now even the smallest public sector banks offer ATM/debit cards, RTGS fund transfer, internet banking, telephone banking etc. The staff is now motivated and they realise the importance of a good performance. The interest rates on term deposits are comparable with the private banks. The staff is offered not just a job but a career. 4. The private bank staff is generally offered contractual employment and therefore, they lack the sense of belongingness with their organization, which is generally seen in public sector banks. The DSA (Direct Sales Agent) culture in private sector banks is also tarnishing their image. COMPARISON OF THE LAST FIVE YEARS BALANCE SHEET OF ING VYSYA BANK AND BANK OF BARODA
ING Vysya Bank Bank Of Baroda

Industry : Banks - Private Sector

Industry : Banks - Public Sector

Balance Sheet

-- in Rs. Cr. --

Balance Sheet

-- in Rs. Cr. --

Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

Capital and Liabilities: Total Share Capital Equity Share Capital Share Application Money Preference Share Capital

Capital and Liabilities: Total Share Capital Equity Share Capital

90.72

90.90

102.47

102.60

119.97

365.53

365.53

365.53

365.53

365.53

90.72

90.90

102.47

102.60

119.97

365.53

365.53

365.53

365.53

365.53

0.00

0.00

0.00

4.47

Share 2.99 Application Money Preference 0.00 Share Capital

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

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JBFSIR
Reserves Revaluation Reserves Net Worth Deposits Borrowings Total Debt Other Liabilities & Provisions Total Liabilitie 817 901

Volume 1, Issue 4 (July, 2011)

1,323 1,487 2,099 Reserves Revaluation Reserves 7,478 8,284

ISSN 2231-4288
10,678 12,470 14,740

111.54

110.78

109.52

108.77

108.02

0.00

0.00

0.00

0.00

0.00

1,019 13,335 1,107 14,442

1,103 15,418 843 16,262

1,535 20,498 1,249 21,747

1,702 24,889 2,152 27,042

2,330 Net Worth 25,865 Deposits 3,673 Borrowings 29,536 Total Debt Other 2,012 Liabilities & Provisions Total Liabilities

7,844 93,661 4,802 98,464

8,649 124,915 1,142 126,058

11,043 152,034 3,927 155,961

12,835 192,396 5,636 198,033

15,106 241,044 13,350 254,394

1,304

1,920

2,256

3,111

7,083

8,437

12,594

16,538

8,815

16,766

19,286

25,539

31,856

33,880

113,392

143,146

179,599

227,406

278,316

Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

Mar '06

Mar '07

Mar '08

Mar '09

Mar '10

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

12 mths

Assets Cash & Balances with RBI Balance with Banks, Money at Call Advances Investmen Gross Block Accumulated Depreciation Net Block

Assets Cash & 2,329 Balances with RBI Balance with Banks, 697.46 Money at Call 18,507 Advances 10,472 Investmen 773 Gross Block Accumulated Depreciation

841.65

945.81

2,263

1,791

3,333

6,413

9,369

10,596

13,539

281.68

645.89

921.23

491.23

10,121

11,866

12,929

13,490

21,927

10,231 4,372 676

11,976 4,527 681

14,649 6,293 706

16,750 10,495 754

59,911 35,114 1,873

83,620 34,943 2,244

106,701 43,870 3,787

143,985 52,445 3,954

175,035 61,182 4,266

383

394

429

468

485

952

1,155

1,360

1,644

1,981

293.21 112.20

286.73 109.24

277.51 121.70

285.32 151.88

288.33 Net Block 207.60

920 0.00

1,088 0.00

2,427 0.00

2,309 0.00

2,284 0.00

Capital

Capital

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JBFSIR
Work In Progress Other Assets Total Assets Contingent Liabilities Bills for collection Book Value (Rs) 634 16,766 794 19,286

Volume 1, Issue 4 (July, 2011)

Work In Progress 1,013 25,539 1,891 31,856 1,377 Other Assets 33,880 Total Assets Contingent Liabilities Bills for collection Book Value (Rs) 3,991 113,392 5,212 143,146

ISSN 2231-4288

4,301 179,599

4,578 227,406

4,347 278,316

10,986.42 17,462.28 32,959.36 38,734.68

72,851.44

34,678.87 54,999.86 75,364.33 64,745.82 77,997.01

2,850.1

3,033.3

3,096.6

4,303.0

4,570.4

10,407.

12,976.

15,105.

22,584. 27,949.60

100.10

109.18

139.17

154.93

185.04

215.35

237.46

303.18

352.37

414.71

COMPARISON OF THE PROFIT LOSS ACCOUNT OF LAST 5 YEARS OF ING VYSYA BANK AND BANK OF BARODA
ING Vysya Bank Bank Of Baroda

Private Sector

Public Sector

Profit & Loss account

-- in Rs. Cr. --

Profit & Loss account

-- in Rs. Cr. --

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10 12 mths Income Interest Earned Other Income Total Income Expenditure 1,222.43 1,401.38 1,680.44 2,239.89 2,232.89 190.31 248.57 418.57 547.67 620.22 12 mths 12 mths 12 mths 12 mths Income Interest Earned Other Income Total Income Expenditure

Mar '06 12 mths

Mar '07 12 mths

Mar '08 12 mths

Mar '09 12 mths

Mar '10 12 mths

7,100.00 1,191.69

9,212.64 11,813.48 15,091.58 1,381.79 2,051.04 2,757.66

16,698.34 2,806.36 19,504.70

1,412.74 1,649.95 2,099.01 2,787.56 2,853.11

8,291.69 10,594.43 13,864.52 17,849.24

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JBFSIR
Interest expended Employee Cost Selling and Admin Expenses Depreciation Miscellaneous Expenses 741.25 234.19

Volume 1, Issue 4 (July, 2011)

859.31 1,182.05 1,590.27 1,403.05 238.48 302.39 392.22 428.85 Interest expended Employee Cost Selling and Admin Expenses 3,875.09 1,523.79

ISSN 2231-4288
5,426.56 1,644.06 7,901.67 1,803.76 9,968.17 2,348.13 10,758.86 2,350.88

161.58

170.16

140.70

231.68

374.15

714.77

646.25

927.20

885.24

1,627.56

37.20

37.98

38.93

40.82

40.96

Depreciation

111.1

194.28

232.00

230.50

230.86

229.47

255.10

279.99

343.78

363.87

Miscellaneous Expenses Preoperative Exp Capitalised

1,016.85

1,656.81

1,564.36

2,189.99

1,478.21

0.00

0.00

0.00

0.00

0.00

Preoperative Exp Capitalised

0.00

0.00

0.00

0.00

0.00 Operating Expenses Provisions & Contingencies 2,724.77 2,771.45 3,370.27 3,844.66 4,711.23

Operating Expenses

1,037.72 572.17 576.51 645.49 878.80

641.77

1,369.95

1,157.05

1,809.20

976.28

Provisions & Contingencies Total Expenses

90.27

125.21

116.52

129.70

170.11

Total Expenses

7,241.63 Mar '06 12 mths

9,567.96 12,428.99 15,622.03 Mar '07 12 mths Mar '08 12 mths Mar '09 12 mths

16,446.37 Mar '10 12 mths

1,403.69 1,561.03 1,944.06 2,598.77 2,610.88 Mar '06 Mar '07 Mar '08 Mar '09 Mar '10 12 mths 12 mths 12 mths 12 mths 12 mths

Net Profit for the Year Extraordionary Items Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised)

1,050

1,026

1,435

2,227

3,058

Net Profit for the Year Extraordionary Items Profit brought forward Total Preference Dividend Equity Dividend Corporate Dividend Tax

9.06

88.91

154

188

242

-223.1

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

-34.60

1.29

18.44

103.5

206.5

826.9

1,026.4

1,435.5

2,227.2

3,058.3

-25.54

90.20

173.3

292.3

448.7

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

207.6

252.46

340.94

383.56

639.26

0.00

5.91

15.37

20.52

29.99

0.00

0.00

0.00

0.00

0.00

0.00

1.00

2.61

3.49

5.10

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Per share data (annualised) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs)

Volume 1, Issue 4 (July, 2011)

Earning Per Share (Rs) Equity Dividend (%) 28.83

ISSN 2231-4288
28.18 39.41 61.14 83.96

1.00

9.78

15.12

18.40

20.19

50.00

60.00

80.00

90.00

150.00

0.00

6.50

15.00

20.00

25.00 Book Value (Rs) 215.3 237.46 303.18 352.37

414.71

100.1

109.1

139.1

154.9

185.0

Appropriations

Appropriations Transfer to Statutory Reserves Transfer to Other Reserves 0.00 0.01 0.00 0.00 -0.01 Proposed Dividend/Transfer to Govt Balance c/f to Balance Sheet 1.29 18.44 103.53 206.53 330.22 Total 826.9 1,026.4 1,435.5 2,227.2 3,058.3 207.6 252.46 340.94 383.56 639.26

Transfer to Statutory Reserves Transfer to Other Reserves Proposed Dividend/Transfer to Govt Balance c/f to Balance Sheet Total

-828.7

271.50

444.23

1,136.2

1,162.0

-26.84

64.85

53.85

61.77

83.45

1,448

502.50

650.35

707.41

1,257.0

0.00

6.91

17.98

24.01

35.09

0.00

0.00

0.00

0.00

0.00

-25.55

90.21

175.3

292.3

448.7

REFERENCES:1. Balance sheets and Profit & Loss of Bank of Baroda 2. Balance sheets and Profit & Loss of ING Vysya 3. Profiles of Banks 2009-10 released by RBI

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