Bank of Baroda Bank of Baroda Smooth Sailing through the Rough WatersSmooth Sailing through the Rough Waters

Financial Results: Q2 & H1, 2011-12 (FY12)Financial Results: Q2 & H1, 2011-12 (FY12)

Dr Rupa Rege NitsureDr Rupa Rege NitsureChief EconomistChief Economist

October 31, 2011October 31, 2011

Bank of Baroda: Key StrengthsBank of Baroda: Key Strengths

Bank of Baroda is a 103 years old State-owned Bank with modern & contemporary personality, offering banking products and services to Large industrial, SME, retail & agricultural customers across the country.

Relatively Strong Presence in Progressive States like

Gujarat & Maharashtra

Uninterrupted Record in Profit-making and

Dividend Payment

Overseas Business Operations extend across

25 countries through 86 Offices

First PSB to receiveCorporate Governance

Rating (CGR-2)

Robust TechnologyPlatform with 100%

CBS in Indian Branches

Pioneer in many Customer-Centric

Initiatives

Strong Domestic Presence through

3, 492 Branches

Modern & ContemporaryPersonality

Provides Financial Services to over

41.8 mln Customers Globally

A well-accepted & recognised Brand in

Indian banking industry

Domestic Branch NetworkDomestic Branch Network

27752886 3029

3202

3492

0

500

1000

1500

2000

2500

3000

3500

Sep'07 Sep'08 Sep'09 Sep'10 Sep'11

No. of Domestic Branches

Regional Break-up of Domestic Branches as on 30th Sept, 2011

Metro Urban Semi-Urban

Rural

765 649 878 1,200

•Bank’s network of domestic branches as on 30th Sept, 2011 was 3,492 & no. of ATMs were 1,800.

•During H1, FY12, the Bank opened 128 new branches.

•In FY12, the Bank plans to open 264 branches in Tier-1 & Tier-2 centres and 305 branches in Tier-3 to Tier-6 centres.

•Also, 91 branches under the Branch Expansion Plan of FY11 are yet to be opened.

•Newly opened branches in H1, FY12 are well diversified across U.P & Uttaranchal, Maharashtra & Southern zones

•Around 34.4% of the Bank’s network at the end-June, FY12 was situated in rural areas.

Robust Technology PlatformRobust Technology Platform

•As on 30th Sept 2011, the Bank’s entire domestic, overseas and RRBs [i.e., five sponsored RRBs] related operations were on the CBS platform.

•Bank has developed IT facilities for online/offline account opening through Business Correspondents under Financial Inclusion.

• Bank’s retail & corporate customers enjoy several facilities under its Internet Banking delivery channel such as fund transfers to self & third party (within BoB); online payment of bills & taxes, rail-ticket booking, temple donations, online subscription to IPOs/FPOs thru’ ASBA & institutional fee payment. SMS alerts & RTGS/NEFT transactions are also implemented in the Internet Banking Portal.

•Bank has implemented Internet Banking in several of its overseas territories & a Special Fund Mgmt Solution in UAE & New Zealand.

•Bank has built a State-of-the-Art Data Centre conforming to Uptime Institute Tier-3 standard & a Disaster Recovery Site in different seismic zones to ensure uninterrupted banking services delivery to customers.

• Bank’s Mobile Banking (Baroda M-Connect) provides various facilities to its customers like balance-enquiry, mini-statements, linking of multiple accounts, funds’ transfer, bill payments, ticket booking, shopping, feedback facilities, etc.

•Anti Money Laundering (AML) has been implemented in India and 20 overseas territories.

Robust Technology PlatformRobust Technology Platform

•Bank has successfully implemented an Integrated Global Treasury Solution in its major territories like U.K., UAE, Bahamas, Bahrain, Hong Kong, Singapore, Belgium, USA and India to achieve reduced cost of operations & better fund mgmt.

•Enterprise-wide General Ledger (EWGL) has been successfully implemented for the Bank’s domestic and overseas business.

•Bank has introduced the facility of Multiple Accounts being linked to a single Debit Card (verified by Visa, CVV2) and also Mobile Number registration thru’ ATMs in CBS for SMS Alerts.

•E-tax payments thru’ ATMs are also facilitated and Mobile ATMs are introduced in Ahmedabad, Pune, Lucknow & New Delhi.

•Back Office functions have been centralised in the Bank at City Back Offices & five Regional Back Offices ( at Baroda, Jaipur, Lucknow, Bhopal & Coimbtore) to improve the delivery of services.

•On a pilot basis, Automated Cheque Processing Centre (Inward & Outward) has been set up in Mumbai.

•BoB IIT – an exclusive IT Training Centre has been set up in Ghandhinagar to educate the Bank’s staff in all IT related products & services.

Concentration (%): Domestic Branch NetworkConcentration (%): Domestic Branch Network

Gujarat, 21.62

Maharashtra, 10.97

Rajasthan, 11.17South, 11.05

UP & Uttaranchal, 22.34

Rest of India, 22.85

Pattern of Shareholding: 30Pattern of Shareholding: 30thth Sept, 2011 Sept, 2011

Govt. of India57.0%

Mutual Funds8.9%

Insurance Cos7.7%

FIIs14.9%

Indian Public4.8%

Corp. Bodies6.2% Others

0.5%

• BOB is a Part of the following Indexes

BSE 100, BSE 200, BSE 500 & Bankex

Nifty Junior, BankNifty, CNX 100, CNX 500

• BOB’s Share is listed on BSE and NSE in ‘Future and Options’ segment also.

As on 30th Sept, 2011

•Share Capital: Rs 392.81 crore

•No. of Shares: 391.55 million

• Net worth: Rs 22,440.25 crore

• B. V. per share: Rs 573.12

•Return on Equity (H1, FY12): 19.60%

Comparative Performance of BoB Stock: Sept’10 to Sept’11

Index/StockValue

(30th Sept’10)Value

(30th Sept’11) % Change

Sensex 20,069 16,454 -18.0%

Nifty 6,030 4,943 -18.0%

Bankex 14,025 10,851 -22.6%

BankNifty 12,366 9,468 -23.4%

BoB-BSEBoB-BSE 873873 764764 -12.5%-12.5%

BoB-NSEBoB-NSE 873873 762762 -12.7%-12.7%

India’s Macro Health: Sept’10 to Sept’11

Indicator Apr-Aug, 2010 Apr-Aug, 2011

Infrastructure Industries’ Growth (%, yoy)

6.1% 5.6%

IIP Growth (%, yoy) 8.7% 5.6%

Exports (US$ Bln) 87.22 134.50

Trade Deficit (US$ Bln) 47.71 54.89

Sept, 2010 Sept, 2011

Food Inflation 16.3% 9.23%

Fuel Inflation 11.1% 14.1%

Mfg. Inflation 5.0% 7.7%

Overall Inflation 8.98% 9.72%

PMI, Manufacturing 55.1 50.4

Passenger Car sales (%, yoy)

30.0% (-) 1.8%

End-Sept, 2010 End-Sept, 2011

Bank Credit (%, yoy) 19.0% 21.4%

Bank Deposits (%, yoy) 14.3% 19.1%

FER (US$ Bln) 294.16 311.48

Exchange Rate (Rs/US$)

44.93 48.97

Quick Economic Observations

•Economic activity in advanced nations weakened further in Jul-Sept, 2011 on the back of worsening sovereign debt dynamics in the euro region

•High commodity prices including those of crude oil, persistently high unemployment & weak housing markets have adversely impacted consumer confidence, globally.

•Weak incremental economic data for India has made RBI revise downwards its GDP forecast for FY12 to 7.6% from the earlier 8.0%

•Yet indicative target of non-food credit growth is retained at 18.0% for FY12 – a positive for the banking industry

•Inflation still stubbornly high but likely to ease from December, 2011 (primarily due to the statistical base effect); However, RBI has warned against uncertainties about sudden adverse developments to the inflation trajectory.

• Downside risks remain in the form of uncertain global macroeconomic environment ; stickiness in global commodity prices despite growth slowdown; India’s fiscal stresses – higher market borrowings – elevated interest rates – crowding out of private investment, etc.

•Structural imbalances in protein rich food items and this year’s poor performance of pulses crop during the kharif season are likely to maintain upward pressure on food inflation.

Bank’s Business Growth (Y-O-Y): Sept’06 to Sept’11Business Growth (Y-O-Y): Sept’06 to Sept’11

25.022.0

22.628.7 30.1

22.1

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0Sep

'06

Sep

'07

Sep

'08

Sep

'09

Sep

'10

Sep

'11

Growth: Total Deposits (%)45.0

27.1

31.6

25.4

29.6

23.9

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Sep'0

6

Sep'0

7

Sep'0

8

Sep'0

9

Sep'1

0

Sep'1

1

Growth: Total Advances (%)

32.2

24.0

26.3 27.329.9

22.9

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

Sep'0

6

Sep'0

7

Sep'0

8

Sep'0

9

Sep'1

0

Sep'1

1 Growth: Total Business (%)

22.2

7.9

18.2

23.7

27.3

12.6

0.0

5.0

10.0

15.0

20.0

25.0

30.0

Sep'0

6

Sep'0

7

Sep'0

8

Sep'0

9

Sep'1

0

Sep'1

1

Domestic CASA Growth (%)

Bank’s Profitability: Sept’06 to Sept’11Bank’s Profitability: Sept’06 to Sept’11

3184.61

2041.53

1585.81

1281.70

1066.67

3945.23

451.68658.03

766.14

1319.56

1878.46

2198.92

0.00

500.00

1000.00

1500.00

2000.00

2500.00

3000.00

3500.00

4000.00

4500.00

Sep'06 Sep'07 Sep'08 Sep'09 Sep'10 Sep'11

Rs crore

Gross Profit Net Profit

•During the last five years, the Bank’s Half-yearly Net Profit has grown at the robust CAGR of 37.2% .

Bank’s Asset Quality: Sept’06 to Sept’11Bank’s Asset Quality: Sept’06 to Sept’11

3.44

1.411.39

1.30

1.62

2.33

0.47

0.380.27

0.43

0.55

0.77

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

Sep'06 Sep'07 Sep'08 Sep'09 Sep'10 Sep'11

%

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

%

Gross NPA

Net NPA

Bank’s Business Performance: Sept’10 to Bank’s Business Performance: Sept’10 to Sept’11Sept’11

Particular(Rs crore)

Sept’10 Mar’11 Sept’11Y-O-Y(%)

ChangeOver

Mar’11 (%)

Global Business 4,62,619 5,34,116 5,68,306 22.9% 6.4%

Domestic Business 3,47,733 4,02,731 4,13,753 19.0% 2.7%

Overseas Business 1,14,885 1,31,385 1,54,552 34.5% 1.8%

Global Deposits 2,69,660 3,05,439 3,29,185 22.1% 7.8%

Domestic Deposits 2,06,001 2,33,323 2,44,720 18.8% 4.9%

Overseas Deposits 63,659 72,116 84,466 32.7% 17.1%

Global CASA Deposits 79,815 87,589 90,179 13.0% 3.0%

Domestic CASA 73,944 80,181 83,250 12.6% 3.8%

Overseas CASA 5,870 7,407 6,929 18.0% -6.5%

•Share of Domestic CASA was at 34.02% in terms of Aggregate Deposits and at 36.23% in terms of Core Deposits as on 30th Sept, 2011.

Bank’s Business Performance: Sept’10 to Sept’11Bank’s Business Performance: Sept’10 to Sept’11

Particular(Rs crore)

Sept’10 Mar’11 Sept’11Y-O-Y(%)

ChangeOver

Mar’11 (%)

Global advances (Net) 1,92,959 2,28,676 2,39,120 23.9% 4.6%

Domestic Advances 1,41,732 1,69,408 1,69,034 19.3% -0.2%

Overseas Advances 51,227 59,269 70,087 36.8% 18.3%

Retail CreditOf which:

27,192 32,435 29,885 9.9% -7.9%

Home Loans 11,324 12,539 13,304 17.5% 6.1%

SME Credit 23,506 27,365 30,149 28.3% 10.2%

Farm Credit* 21,555 24,529 22,619 4.9% -7.4%

Credit to Weaker Sections*

11,976 13,245 13,866 15.8% 4.7%

* As of Last Reporting Friday

Bank’s Business Performance: Sept’10 to Sept’11Bank’s Business Performance: Sept’10 to Sept’11

Particular(Rs crore)

Sept’10 Mar’11 Sept’11Y-O-Y(%)

ChangeOver

Dec’10 (%)

Global Saving Deposits

59,349 64,454 68,541 15.5% 6.3%

Domestic Savings Deposits

57,994 62,959 67,013 15.6% 6.4%

Overseas Savings Deposits

1,355 1,495 1,528 12.8% 2.2%

Global Current Deposits

20,466 23,135 21,639 5.7% -6.5%

Domestic Current Deposits

15,950 17,222 16,237 1.8% -5.7%

Overseas Current Deposits

4,516 5,912 5,401 19.6% -8.6%

Bank’s Profits & NII: Jul-Sept, FY11 & FY12Bank’s Profits & NII: Jul-Sept, FY11 & FY12

Particular(Rs crore)

July-Sept’10 July-Sept’11Y-O-Y(%)

Gross Profit 1,657 2,140 29.2%

Net Profit 1,019 1,166 14.4%

Net Interest Income

2,038 2,567 25.9%

Other Highlights: Q2,FY11 to Q2,FY12Other Highlights: Q2,FY11 to Q2,FY12

Particular (in %) Q2, FY11

Q3, FY11

Q4, FY11

Q1, FY12

Q2, FY12

Global Cost of Deposits 4.50 4.53 4.79 5.36 5.61

Domestic Cost of Deposits 5.27 5.27 5.63 6.41 6.84

Overseas Cost of Deposits 2.02 1.94 1.83 1.80 1.82

Global Yield on Advances 8.40 8.58 8.74 9.11 9.64

Domestic Yield on Advances 10.17 10.34 10.65 11.23 12.14

Overseas Yield on Advances 3.75 3.70 3.54 3.38 3.37

Other Highlights: Q2, FY11 to Q2,FY12 Other Highlights: Q2, FY11 to Q2,FY12

Particular (in %) Q2, FY11

Q3, FY11

Q4, FY11

Q1, FY12

Q2, FY12

Global Yield on Investment

7.06 7.39 7.45 7.47 7.58

Domestic Yield on Investment

7.24 7.56 7.60 7.59 7.72

Overseas Yield on Investment

3.71 3.85 4.34 4.86 4.24

Global NIM 3.02 3.20 3.45 2.87 3.07

Domestic NIM 3.62 3.82 4.16 3.39 3.67

Overseas NIM 1.33 1.40 1.41 1.37 1.42

Key Financial Ratios : Q2, FY12 versus Q2, FY11Key Financial Ratios : Q2, FY12 versus Q2, FY11

• Return on Average Assets at 1.23% [ 1.27% in Q2, FY11]

• Earning per Share at Rs 119.12 [Rs 103.14 in Q2, FY11]

• Book Value per Share at Rs 573.12 [Rs 430.15 in Q2, FY11]

• Return on Equity (ROE) at 20.79% [ 23.98% in Q2, FY11]

• Capital Adequacy Ratio at 12.73% with Tier I Capital at 8.82%

• Cost-Income Ratio at 35.57% [ 38.69% in Q2, FY11]

• Gross NPA ratio at 1.41% -- is one of the lowest for large-sized banks in India

• Net NPA ratio too low at 0.47%

• NPA Coverage at the healthy level of 81.97% (including the technical write-offs)

• Incremental Delinquency Ratio contained at 0.47% for H1, FY12; This means

0.94% in annualised terms – the best possible level by international standards.

Key Productivity Indicators Q2, FY12 versus Q2, Key Productivity Indicators Q2, FY12 versus Q2, FY11FY11

Q2, FY11 Q2, FY12

Business per Employee (Rs crore)

10.96 12.98

Business per Branch (Rs crore) 142.26 160.27

Profit per Employee (Rs lakh) 10.53 11.39

Profit per Branch (Rs lakh) 125.38 131.54

Non-Interest Income: Q2, FY11 and Q2, FY12Non-Interest Income: Q2, FY11 and Q2, FY12

(Rs crore) Q2, FY11 Q2, FY12%

Change(Y-O-Y)

Commission, Exchange, Brokerage

248.28 313.65 26.3%

Incidental Charges 90.50 74.85 -17.3%

Other Miscellaneous Income 63.21 66.39 5.0%

Total Fee-Based Income 401.99 454.89 13.2%

Trading Gains 110.13 10.15 -90.8%

Profit on Forex Transactions 100.02 147.33 47.3%

Recovery from Written-off Accounts

69.16 121.97 76.4%

Total Non-Interest Income 681.30 734.34 7.8%

Non-Interest Income: H1, FY11 and H1, FY12Non-Interest Income: H1, FY11 and H1, FY12

(Rs crore) H1, FY11 H1, FY12%

Change(Y-O-Y)

Commission, Exchange, Brokerage

449.82 588.42 30.8%

Incidental Charges 167.64 154.40 -7.9%

Other Miscellaneous Income 96.10 110.15 14.6%

Total Fee-Based Income 713.56 852.97 19.5%

Trading Gains 238.07 84.16 -64.7%

Profit on Forex Transactions 221.63 287.35 29.7%

Recovery from Written-off Accounts

125.28 150.73 20.3%

Total Non-Interest Income 1,298.54 1,375.21 5.9%

Provisions & Contingencies: Q2, FY11 and Q2, Provisions & Contingencies: Q2, FY11 and Q2, FY12FY12

(Rs crore) Q2, FY11 Q2, FY12 AbsoluteChange

Provision for NPA & Bad Debts Written-off

142.26 298.13 155.87

Provision for Depreciation on Investment

-20.11 144.99 165.10

Provision for Standard Advances

52.04 46.92 -5.12

Other Provisions (including Provision for staff welfare)

11.30 -6.70 -18.00

Tax Provisions 451.95 477.55 25.60

Total Provisions 637.44 960.89 323.45

Provisions & Contingencies: H1, FY11 and H1, Provisions & Contingencies: H1, FY11 and H1, FY12FY12

(Rs crore) H1, FY11 H1, FY12 AbsoluteChange

Provision for NPA & Bad Debts Written-off

419.79 430.08 10.29

Provision for Depreciation on Investment

-79.02 283.53 362.55

Provision for Standard Advances

80.85 159.87 79.02

Other Provisions (including Provision for staff welfare)

15.20 0.92 -14.28

Tax Provisions 869.33 871.91 2.58

Total Provisions 1,306.15 1,746.31 440.16

Bank’s Treasury Highlights: Q2, FY12Bank’s Treasury Highlights: Q2, FY12

• Treasury Income stood at the level of Rs 157.48 crore in Q2, FY12

• Out of this, Trading Gains stood at Rs 10.15 crore in Q2, FY12, as the yield on benchmark G-sec hardened further by 11 bps and Sensex (additionally) lost 12.7% in Q2, FY12.

• As of Sept 30, 2011, the share of SLR Securities in Total Investment was 81.30%.

• The Bank had 81.75% of SLR Securities in HTM and 17.62% in AFS at end-Sept 2011.

• The per cent of SLR to NDTL as on 30th Sept., 2011 was 27.11%.

• While the modified duration of AFS investments is 2.80 years; that of HTM securities is 4.96 years.

• Total size of Bank’s Domestic Investment Book as on 30th Sept, 2011 stood at Rs 85043.60 crore.

• Total size of Bank’s Overseas Investment Book as on 30th Sept, 2011 stood at Rs 3,628 crore.

Overseas Business: Q2, FY12Overseas Business: Q2, FY12

• As on 30th Sept, 2011, the “Overseas Business” contributed 27.2% to the Bank’s Total Business, 20.1% to its Gross Profit and 36.0% to its Core Fee income (i.e. Commission, Exchange & Brokerage).

• While the Cost-Income Ratio for Domestic Operations stood at 39.23% in Q2, FY12, it was more favourable at 16.21% for the Bank’s Overseas Operations.

• While the Gross NPA (%) in Domestic Operations stood at 1.70% at end-Sept, 2011, that for Overseas Operations was lower at 0.69%.

• The Gross Profit to Avg. Working Funds (%) for Overseas Operations stood at 1.36% in Q2, FY11 and at 1.58% in Q2, FY12.

• NIM as % of Interest Earnings Assets in Overseas Operations improved from 1.33% in Q2, FY11 to 1.42% in Q2, FY12.

• Return on Equity in Overseas Operations was at 19.18% in Q2, FY12

NPA Movement (Gross): H1, FY12NPA Movement (Gross): H1, FY12

Particular ( Rs crore)

A. Opening Balance 3,152.50

B. Additions during H1, FY12 1,167.33

Out of which, Fresh Slippages 1,077.24

C. Reduction during H1, FY12 917.73

Recovery 270.82

Upgradation 113.62

PWO & WO 533.29

Exchange Difference 0.00

NPA as on 30th Sept, 2011 3,402.10

Recovery in PWO in H1, FY12 150.73

Sector-wise Gross NPAs: H1, FY12 versus H1, Sector-wise Gross NPAs: H1, FY12 versus H1, FY11FY11

Sector Gross NPA (%)

H1, FY11

Gross NPA (%)

H1, FY12

Agriculture 3.44 4.58

Large & Medium Industries

1.56 1.38

Retail 2.12 2.17

Housing 2.13 1.89

SSI (Mfg) 1.78 1.65

Total MSME 2.60 3.06

Overseas Operations

0.58 0.69

Cumulative Position of Restructured Assets Cumulative Position of Restructured Assets (Domestic)(Domestic)

• During the past 42 months (1 Apr’08 to 30 Sept’11), the Bank has restructured 77,521 accounts amounting Rs 7,829.17 crore.

• Within this, the loans worth Rs 1,117.74 crore were restructured in H1, FY12; Rs 1,597.81 crore were restructured in FY11, Rs 2,455.05 crore in FY10 & Rs 2,658.57 crore in FY09.

• For the period of 42 months, out of the total amount restructured, Rs 4,546.75 crore (58.1%) belonged to wholesale banking, Rs 1,804.19 crore (23.0%) to SMEs, Rs 589.43 crore (7.5%) to retail and Rs 888.80 crore (11.4%) to agriculture sector.

• About 73 accounts (of Rs 1 crore & above) restructured on/after 1st Apr, 2008 with aggregate outstanding of Rs 959.11 crore slipped to NPA after restructuring and most of them belonged to the SME segment.

• Industry-wise break-up shows that the Bank’s restructured accounts are well spread over different sectors, the major ones being iron & steel, cotton textiles, engineering, infrastructure, real estate, etc.

• The Bank has primarily helped genuine borrowers who suffered from temporary cash flow problems due to the global crisis. These accounts are restructured looking into the internal strength and the financial viability of such borrowers.

Sectoral Deployment of Credit, End-Sept, 2011 Sectoral Deployment of Credit, End-Sept, 2011

Sector % share in Gross

Domestic Credit

Agriculture 13.2%

Retail 17.4%

SME 17.6%

Wholesale 36.7%

Misc. including Trade

15.1%

Total 100.0%

Major Awards & Accolades in H1, 2011-12 Major Awards & Accolades in H1, 2011-12

• Awards for the Bank

• Best Public Sector Bank (PSB) by CNBC-TV18 & MCX• Golden Peacock Award for Excellence in Corporate Governance by

Institute of Directors & World Forum for Corporate Governance received in London

• Dainik Bhaskar India Pride Award for 2011• Most Efficient Bank in Kenya• Best Initiatives in Inclusive Banking – FIBC Banking Award• Dun & Bradstreet’s Leading PSB in “Global Business Development

Category”• National Award for Performance under SME Business

• Awards for the Bank’s CEO (CMD)

• Outstanding Financial Professional-2010 by CNBC-TV18 & MCX• Best Banker Award (T. A. Pai Memorial Award) by Karnataka State

Open University• Lifetime Achievement Award by Dainik Bhaskar India Pride Awards

Bank’s BPR Project - NavnirmaanBank’s BPR Project - Navnirmaan

•Project Navnirmaan has altogether 18 activities covering both BPR & Organisational Restructuring, aimed at transforming the Bank’s branches into a sales & service centres to make possible a sustained sales growth, superior customer experience and alternate channel migration.

•The most important initiatives were

•Conversion of all metro & urban branches into Baroda Next branches within a timeline [485 branches rolled out so far across Nine zones & 28 regions]

•Creation of automated & leaner Back Offices like:

•City Back Office (Automated cheque processing introduced in Mumbai on 17 Jan, 2011)

•Regional Back Office [Six RBOs at present & four more are being opened coupled with tech changes for faster account opening].

•Establishment of two Contact or Call Centres

•Introduction of frontline automation at select branches for customer convenience

•Creation of an Academy of excellence

•Organisational Restructuring

• The initial impact of Baroda Next migration has been found to be rewarding both in terms of increased customer satisfaction and CASA growth.

•The said impact has been sustained at 110 Baroda Next branches recently evaluated on (a) sales and (b) customer satisfaction.

Bank’s HR InitiativesBank’s HR Initiatives

• Recruitment Plan for FY12

•Probationary Officers – 1,200

•Campus Recruitment – 600

•Specialist officers (in various disciplines) – 200

•Clerks – 2,000

•Total new Hires Planned for Recruitment in FY12: 4,000

• Project Udaan: Bank is currently conducting a massive & comprehensive Leadership Development Programme to cover all branch heads of Urban/Metro Branches and AGMs/DGMs in the Bank. This programme will cover almost 1,500 people and develop their leadership effectiveness further.

• Opening of Baroda-Manipal School of Banking: This is to help in getting trained manpower for the Bank.

• Project Sparsh: The Bank has initiated this project in consultation with BCG to revamp its existing HR processes, structures and policies and create an integrated HR framework revolving around initiatives like creating a scientific staffing model, manpower planning, succession planning, development and capability building, career management, performance management, etc.

Thank you.