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21st Annual General Meeting of the Shareholders of Bank of Baroda

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The 21st Annual General Meeting of the Shareholders of Bank of Baroda was held on Friday, 30th June, 2017 at 10.15 A.M. at Sayajirao Nagargriha, Vadodara Mahanagar Seva Sadan, Old Padra Road, Akota, Vadodara, at the place of Head Office of the Bank.
The meeting was chaired by Shri. Ravi Venkatesan, Non-Executive Chairman of the Bank.
Shri. P S Jayakumar, MD & CEO of the Bank, Shri Mayank K Mehta, Shri Ashok Kumar Garg and Smt. Papia Sengupta, Executive Directors of the Bank also participated.
Shri Ajay Kumar, Director representing RBI, Shri Prem Kumar Makkar, Director representing Non-Workmen, Shri Gopal Krishan Agarwal, Director, Prof Biju Varkkey, Director, Dr. R Narayanaswamy, Shareholder Director, Shri. Bharatkumar D Dangar, Shareholder Director & Chairman Stakeholders Relationship Committee and Ms. Usha Narayanan, Shareholder Director & Chairperson of Audit Committee of the Board also attended the Meeting.
The Government of India, the major Shareholder of the Bank was represented by Shri S. M. Pathak, Section Officer (Coordination), Department of Financial Services, MOF, Government of India.
Shri. P S Jayakumar, MD & CEO of the Bank responded to the observations made by few Shareholders in respect of Non-Performing Assets, Restructuring and Stressed Assets, exposure to sensitive sectors, provisioning, loans to large corporates & MSME, Operating Profit and IT Initiative, customer service, demonetization, etc.
The Shareholders of the Bank discussed, approved and adopted the Balance Sheet of the Bank as at 31st March 2017, Profit and Loss Account for the year ended 31st March, 2017, the report of the Board of Directors on the working and activities of the Bank for the period covered by the accounts and the Auditor’s Report on the Balance Sheet and Accounts also declared dividend @ Rs.1.20 per equity share of face value of Rs.2/- each fully paid for the Financial Year 2016-17.

The Shareholders also approved by Special Resolution and authorized the Bank to raise additional Equity Share Capital aggregating upto Rs. 6000/- crores including premium, which Bank proposes to raise , by way of various options such as Qualified Institutions Placement (QIP) / Follow-on Public Offer (FPO)/ Preferential Issue/ Rights Issue or other mode as may be deemed fit by the Bank at an appropriate time. The premium and other terms and conditions will be subject to applicable regulatory guidelines / market conditions.

The meeting ended with a vote of thanks to the Chair.

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