Bank of Baroda releases financial results for 2007

The Bank of Baroda, Fiji, has released its results for the financial year ending 31 March 2007 in a publication of its Key Disclosure Statement in the Fiji Times today, 31 July 2007. Of note are the following :

• the bank's Fiji business (in terms of total assets) grew by 19.59% this year compared to 14.59% in the preceding financial year;
• return on assets was 1.02% for the 2007 financial year compared to 1.78% in 2006;
• capital adequacy ratio (a measure of the bank's capital against its risk weighted assets base) stood at 11.03% at end March 2007. It fell from 17.16% at the end of the same period in 2006;
• The bank continued with its conservative business approach by having a larger proportion of its assets in Investments rather than in Loans. Investments formed 56.1% of the assets base while Loans made up 27.2% of assets;
• Loans to Deposits ratio was only 29.5% at end March 2007 compared to 34.9% in 2006;
• Net profit after tax was F$3.4 million in 2007. It fell from F$5.1 million which was recorded in 2006.

For more details, ask for a copy of the Key Disclosure Statement at any of Bank of Baroda's branches. Other banks should have copies of their Key Disclosure Statements at their branches.