"Your Directors have pleasure in presenting the Annual Report of the Bank with the audited

Balance Sheet, Profit & Loss Account and the Report on Business and Operations for the year ended March 31, 2026 (FY 2026)".

Business Performance & Key Financials

Total deposits of the Bank increased to 16,48,487 crore in FY 2026 from 14,72,035 crore in FY 2025, there by registered a growth of 12.0% on a YoY basis. The domestic CASA deposits of the Bank grew by 9.8% on a YoY basis, to reach to the level of 5,45,034 crore in FY 2026. The Domestic Deposit grew by 12.8% on a YoY basis and reached to 14,01,290 crore in FY 2026. The Global Gross advance of the Bank reached to the level of 14,29,879 crore in FY 2026 as compared with 12,30,461 crore in FY 2025 by registering a growth of 16.2% on a YoY basis. The Total Business of the Bank grew to

30,78,366 crore in FY 2026 crore from 27,02,496 crore in FY 2025, registered a growth of 13.9% on YoY basis.

Net Interest Income of the Bank increased to 47,682 crore in FY 2026 from 46,518 crore in FY 2025 and grew by 2.5% on a YoY basis. Other Income of the Bank stood at 15,757 crore in FY 2026 which was at 15,788 crore in FY 2025. Operating expenses of the Bank stood at 31,180 crore in FY 2026 as compared with 29,871 crore in FY 2025. Operating Income of the Bank increased to 63,439 crore in FY 2026 from 62,306 crore in FY 2025 and grew by 1.8% on a YoY basis.

The Operating profit of the Bank stood at 32,259 crore in FY 2026 as compared with 32,435 crore in FY 2025. The Bank reported a Net Profit of 20,021 crore in FY 2026 as against 19,581 crore in FY 2025 and grew by 2.2% on a YoY basis.

Key Performance indicators

Net Interest Margin (NIM) stood at 2.89% in FY 2026 as against 3.08% in FY 2025. Cost to income ratio stood at 49.15% in FY 2026 as against 47.94% in FY 2025. Return on Avg. Assets stood at 1.06% in FY 2026 as against 1.16% in FY 2025. Return on Equity stood at 15.38% in FY 2026 as against 16.96% in FY 2025. Book value per share increased to 251.73 in FY 2026 from 223.26 in FY 2025. Earnings Per share increased to 38.72 in FY 2026 from 37.86 in FY 2025.

Average Cost & Yield of funds and Average Interest earning Assets

The average cost of fund and yield of fund stood at 5.00% and 7.69% in FY 2026. Average Interest Earning Asset increased to 16,51,998 crore in FY 2026 from 15,10,144 crore in FY 2025. The Average Interest Bearing Liabilities also increased to 15,85,131 crore in FY 2026 from 14,38,612 crore in FY 2025.

Capital Adequacy Ratio

The Capital Adequacy Ratio (CAR) of the Bank stood at 15.82% as of March 31, 2026 as compared with 17.19% as of March 31, 2025. CET-1 ratio stood at 13.16% in FY 2026 as against 13.78% in FY 2025. The consolidated capital adequacy ratio of the Bank was 16.25 % as of March 31, 2026 against 17.60% as of March 31, 2025.

Net worth

The Bank's net worth for FY 2026 increased to 1,30,177.24 crore from 1,15,457.35 crore for the FY 2025. The net worth comprising of paid-up equity capital of 1,035.53 crore and reserves of 1,29,141.71 crore (excluding revaluation reserves, foreign currency translation reserves and other intangible assets).

Book value per share (Face Value 2) increased to 251.73 in FY 2026 from 223.26 in FY 2025.

Provisions towards Retirement and other benefits

During FY 2026, the Bank made provision towards contribution to pension ( 2,498.57 crore), and reversed provision towards gratuity ( 157.78 crore), leave encashment, additional retirement benefits and other benefits ( 109.62 crore). Total provisions under these categories amounted to 2,231.17 crore during FY 2026.

Dividend Distribution

Board of Directors of the Bank has recommended a dividend of 8.50 per share for the financial year ended March 31, 2026.

The total outgo in the form of dividend will be 4,395.66 crore. The payment of dividend is subject to requisite approvals.

MANAGEMENT DISCUSSION AND ANALYSIS Global Economy

Global growth remained steady in 2025, supported by AI driven investment boom, easing trade uncertainty and accommodative fiscal and monetary policies in several economies. Global GDP growth was recorded at 3.4% in 2025, unchanged from the previous year remained steady with economies that contribute over 60% to the world GDP witnessing election. Growth outcomes diverged across economies with Advanced Economies (AEs) witnessing some acceleration in GDP growth to 1.9% in 2025, compared with 1.8% in 2024. On the other hand, growth in Emerging

Market and Developing Economies (EMDEs) decelerated marginally to 4.4% in 2025 from 4.5% in 2024.

Within the advanced economies, GDP growth in the US moderated to 2.1% in 2025 from 2.8% in 2024. This was largely attributed to the longest government shutdown led to a severe slowdown in government expenditure. AI driven spending provided some support to growth in Q4, but this was offset by higher imports. In the Euro Area, growth continued to improve. GDP growth in 2025 was recorded at 1.4%, an increase of 50bps over 2024. This was led by a sharp improvement in Germany. In 2025, Germany recorded a GDP growth of 0.2%, reversing a decline of -0.5% in

2024, supported by an increase in fiscal expenditure by the government. On the other hand, growth in France eased to 0.9% in 2025 from 1.1% in 2024. Amongst other major economies, GDP growth in both Japan and United Kingdom (UK) improved. For Japan, GDP growth reversed a decline of -0.2% in 2024 and posted a growth rate of 1.2% in 2025. For the UK, GDP growth in 2025 improved to 1.3% in 2025, compared with 1.1% in 2024. Amongst EMDEs, China recorded stable growth of 5% in 2025. Support to growth was provided by government's stimulus and an improvement in exports.

Global inflation eased to 4.1% in 2025 from 5.8% in 2024, led by a sharp decline in oil prices. Within country groups, the moderation in AEs was much lower to 2.5% in 2025 compared with 2.6% in 2024. On the other hand, EMDEs recorded a much sharper pace of moderation to 5.2% in 2025 from 8% last year. Further, while oil prices declined by -14.4% in 2025, non-fuel prices increased by 9.6% in the same period. Global trade volumes picked up pace in 2025 and expanded by 5.1%, after increasing by 3.7% in 2024. The improvement was led by exports of technology related products such as semi-conductors and other equipment. Other exports witnessed muted growth. At the same time, global supply chains and trade relations was also noticeable. While China's exports to the US dropped sharply, this was offset by an increase in exports to Europe and other Asian countries. As per the IMF's assessment, global economy witnessed a steady expansion in the pace of economic activity in Q4

2026. However, the geo-political conflict in the Middle East is expected to once again derail the recovery. The direct impact of the crisis is expected to be felt across all global economies due to higher commodity prices. Indirect impact of the crisis will arise from second order impact of higher inflation expectations as well as volatility in global financial markets

In saying so, the impact is unlikely to be uniform, with EMDEs being much more vulnerable due to high dependence on imports along with rapidly depreciating currencies. The actual impact will depend on the duration and intensity of the conflict which remains unknown. Hence, the IMF has mapped out three scenarios for global growth and inflation-reference, adverse and severe.

Under the reference scenario, which assumes that the current conflict is short-lived, global GDP growth is expected to moderate to 3.1% in 2026 from 3.4% in 2025. Support to growth will emanate from relaxation in trade uncertainty, lingering effect of existing policy support and stronger than expected growth outcomes by the end of 2025. Global inflation is also expected to inch up marginally to 4.4% in

2026 from 4.1% in 2025 led largely by an increase in energy and food prices.

Growth in AEs is expected to slow down marginally to 1.8% in 2026 (from 1.9% in 2025). Within this, GDP growth in the

US is expected to improve to 2.3% led by continued fiscal support and lagged effect of policy rate cuts. On the other hand, growth in the Euro Area is projected to slow down to 1.1% largely due to higher energy prices which will weigh on the manufacturing sector. The moderation in growth is more pronounced in Japan and UK, with GDP growth expected at 0.7% and 0.8% respectively, lower by 50bps relative to 2025. For EMDEs, GDP growth is estimated to be lower at 3.9% in 2026 (4.4% in 2025). Growth rate for China has been pegged lower at 4.4% in 2026, due to the impact of housing sector crisis, declining labour force and lower growth in productivity.

Global inflation is expected to increase to 4.4% in 2026, with inflation in both AEs and EMDEs rising by 30bps to 2.8% and 5.5% respectively. Oil prices are assumed to increase by 21.4% in 2026, while non-fuel prices are also expected to increase by 21.7%. At the same time, global trade volumes are also expected to be impacted negatively and slowdown to 2.8% in 2026, after increasing by 5.1% in 2025.

Global growth is expected to fall much sharply to 2.5% in 2026 from 3.4% in 2025 under the adverse scenario. This scenario assumes a more noticeable increase in oil prices and inflation expectations, while volatility in global financial market conditions is also expected to be much more significant. The impact on inflation is also expected to be much more pronounced, with global inflationexpected to inch up to 5.4% in 2026. Under the severe scenario, the effect of the conflict is assumed to be substantial and long-lasting. Oil prices are expected to inch up much more sharply, leading to a sharp jump in inflation expectations. Financial conditions across countries are also expected to tighten considerably. As a result, the impact on global GDP and inflation is expected to be more noticeable. Global GDP growth is expected at 2.1% in 2026, while global inflationis estimated to increase to 5.8% in the same period. In both these scenarios, the impact on EMDEs is expected to be greater than AEs.

Indian Economy

After a long wait, India released the rebased gross domestic product (GDP) series to the new base year of 2022-23 replacing the earlier 2011-12 series. As per the Second Advance Estimates based on the new series, GDP growth in FY26 is expected at a solid pace of 7.6% compared with a growth of 7.1% in FY 2025 (at constant prices). In terms of expenditure, private final consumption expenditure growth is expected to have shown significant traction and increased by

7.7% in FY26 from 5.8% in FY 2025. Investment growth is also likely to remain healthy at 7.1% in FY26 compared with 6.4% in FY 2025. At the same time, government final consumption expenditure is expected to show a steady growth of 6.6% in FY26 (6.5% in FY 2025).

Growth in gross value added (GVA) has been pegged at 7.7% in FY 2026, surpassing a growth of 7.3% in FY 2025. Within this, industry growth is expected to report a strong growth of 8.9% in FY 2026, led largely by manufacturing sector. In fact, manufacturing sector is expected to record a stellar growth of 11.5% in FY 2026, after increasing by 9.3% in FY 2025. On the other hand, mining and electricity output is estimated to grow at a slower pace. Services sector too is expected to perform better than last year with the growth rate pegged at 10.1% in FY 2026 versus 6.6% in the same period last year. Trade, hotels and transport etc. is expected to drive growth in the services sector. Growth in agricultural output is expected to moderate to 2.4% in FY 2026, after registering a growth of 4.2% in FY 2025.

Inflationary pressures eased significantly in FY 2026, led largely by a decline in food inflation. Notably, a new and rebased inflation series was also released this year. The base of the CPI series was changed to 2024=100 from 2011=100 earlier. Headline CPI has averaged 2.1% in FY 2026, lower compared with 4.6% in FY 2025. In fact, headline inflation remained below RBI's lower target range in all of the months in FY 2026 due to significant fact, food category witnessed a deflationrate of 1.7% between

Apr'25 to Dec'25 (old series). However, under the new series, food inflation showed some upward traction, averaging 3.2% in Jan'26-Mar'26 (new series). However, this was lower than

7.3% in FY25. The moderation in food inflation was broad-based, with prices of vegetables and pulses experiencing the sharpest correction. Core inflation continued to remain sticky above the 4% mark in FY 2026.

India‘s fiscal deficit for FY 2026 (Apr'25-Feb'26) stood at

12.5 lakh crore which is around 80.4% of the revised annual target for the year. For FY 2026, the fiscal deficit target (as a % of GDP) has been set at 4.4% (at 15.6 lakh crore). In FYTD26 so far, centre's net tax revenues have risen by 8.7%, non-tax revenues have expanded by 17.8%. For FY 2027, the government has targeted a fiscal deficit of 4.3%.

In terms of India's external position, merchandise exports registered a growth of 0.9% in FY 2026, after increasing by 0.1% in FY 2025. Import growth at 7.6% in FY 2026, is marginally higher than last year (6.9% in FY 2025). As a result,

India's merchandise trade deficit expanded to US$ 333bn in FY 2026, compared with US$ 283bn in FY 2025. Services exports increased by 7.5% in FY 2026, weaker than a growth of 14.1% in FY 2025. However, led by a sharp moderation in services imports, surplus on account of services has improved to US$ 214bn in FY 2026 compared with US$ 189bn in FY 2025. India's current account deficit remained contained at

1% of GDP in Apr'25-Dec'25, lower compared with 1.3% of GDP in the same period last year. India's forex reserves saw a net accretion of US$ 22.7bn in FY26, compared with net accretion of US$ 19.8bn in FY 2025. In FY26, INR depreciated by 9.9%, after depreciating by 2.4% in FY 2025, largely due to geo-political tensions in the Middle East and FPI outflows. FPI outflows in FY26 stood at US$ 16.6bn, compared with inflows of US$ 2.7bn in FY25.

In terms of monetary policy, RBI reduced its policy repo rate cumulatively by 100bps in FY26. This followed a reduction of

25bps in FY25. In Dec'25, RBI reduced repo rate by 25bps to 6.25% and subsequently kept it steady in Feb'26. The stance of the monetary policy was changed from neutral to accommodative in Apr'25, which was later reversed in Jun'25. Hence, the stance of the monetary policy was retained as neutral since Jun'25.

Developments in Indian Banking

India's banking system remained on a strong footing in FY

26. This was underpinned by a robust growth in profitability, continued improvement in asset quality, adequate capital buffers and strong growth in credit. The gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) moderated to multi-decadal low of 2.2% in Sep'25 from 2.3% in Mar'25. Similarly, the net non-performing asset (NNPA) ratio of SCBs also remained significantly low at 0.5% as of Sep'25.

The capital to risk weighted asset (CRAR) ratio of SCBs at 17.2% as of Sep'25, is well above regulatory minimum. In fact, RBI's stress tests results show that the Indian banking system is adequately equipped to withstand losses under adverse scenarios and maintain capital buffers well above the regulatory minimum. moderation in food inflation. In

In terms of business growth, credit growth of SCBs improved to 16.1% in FY 26, compared with 11% in FY 2025 (21 Mar 2025). In the same period, deposit growth of SCBs also improved to 13.5% compared with 10.3% in FY 2025. Sector wise, there has been broad-based improvement across all categories. Credit to industry had shown significant in FY 2026, led by strong double-digit growth in micro and small and medium industries. Services sector too witnessed buoyant credit growth, led by NBFCs and hospitality sectors. Retail loans also registered upward momentum supported by growth in vehicle loans, other personal loans and gold loans. RBI's policy repo rate stood at 5.25% at the end of Mar'26, with a cumulative reduction of 100bps in FY 2026. In terms of transmission, the weighted average lending rate (WALR) of SCBs on fresh rupee loans declined by 95bps in FY 2026, while the weighted average domestic term deposit rate (WADTDR) on fresh rupee deposits declined by 65bps in the same period.

To aid credit growth and ensure proper transmission of rate cuts, RBI maintained a healthy liquidity surplus in the Banking system in FY 2026. Average liquidity surplus registered during FY 2026 stood at Rs. 1.8 lakh crores compared with a marginal deficit in FY 2025. There were intermittent bouts of volatility in the year which were managed by RBI's liquidity management measures. These included OMO purchase auctions, USD/INR buy/sell swap auctions and long-term VRR auctions.

RBI also introduced several measures to strengthen the Banking system during the course of the year. These measures targeted enhancing the ease and use of digital payments, regulatory support for fintechs and easing regulatory compliance burden for SCBs and NBFCs. Most significantly, RBI issued draft guidelines for the Expected

Credit Loss (ECL) Framework set to take effect from 1 April 2027, which would replace the incurred loss model used presently. Apart from this, the RBI also proposed changes to

banks' risk-weight norms to make the Banking system more risk sensitive, aligning closely to the Basel III standards. RBI also introduced a new capital market exposure for banks to fund mergers and acquisitions, set to take effect from 1 July 2026. RBI also introduced several trade relief measures to cushion against external headwinds. These measures were intended to provide support to exporters through moratoriums on both principal as well as interest payments, enhancement in repayment period for export finance amongst others.

EASE

The PSBs Reforms Agenda was launched as Enhanced Access and Service Excellence (EASE) in January 2018. The initial set of EASE reforms, EASE 1.0, EASE 2.0, and EASE 3.0 supported capacity building in multiple areas of banking

- such as the Introduction of digital-first reforms such as "Dial-a-Loan", "Credit @ Click", technology, analytics, asset quality improvement, outcome-centric HR, and overall governance. EASE 4.0, EASE 5.0 & EASE 6.0 focused mainly on smart lending backed by analytics; 24x7 banking with resilient technology and cloud-based IT systems; data-enabled agriculture financing; collaborating with the financial ecosystem, enhanced digital and data driven banking, cloud adoption, digital marketing, excellence in customer service, analytics driven business improvement and enhancing HR Operations.

EASE 7.0 reforms agenda emphasized on enabling banks to drive national priorities, maintaining a strong customer service orientation, managing operational risks effectively and catalysing new age capability building.

EASErise 8.0 was launched on 17th March 2025, introduced forward looking reforms including new-age underwriting and data management capabilities with a focus on Driving Innovation for Business Process Re-Engineering & Customer Excellence. Reforms also focused on sustainability and empowerment of emerging customer segments.

EASErise 9.0 was launched on 20th February 2026 and takes EASErise 8.0 agenda to the next level with primary focus on building Globally Competitive PSBs for ‘Viksit Bharat @ 2047'. Guided by the principles of the EASE, we have embarked on a transformative journey – where technology meets trust, innovation fosters inclusion, and banking becomes simpler and smarter for every customer. Enhanced employee productivity, better asset quality, expansion of digital services, technology-enabled credit delivery and improved customer responsiveness became the hallmarks of the transformation.

Major Accomplishments under EASE 8.0 Reforms Agenda

Enhanced service accessibility for Divyangjan and customers requiring special assistance Identification of disability status and adopting inclusive physical infrastructure (Braille debit cards, ramps, wheelchair accessible branches), digital infrastructure talking ATMs, digital channels compliant with IS17802, Web Content Accessibility Guidelines

Environmental sustainability by decarbonizing bank operations by reducing energy consumption intensity and expansion of green portfolio

Customized banking services to Gig Workers, Women, Youth and Senior Citizens.

Further scale service delivery in customer-preferred language – Multilingual customer service across digital and branch channels

Accelerate Agri acquisition through Cluster-based sourcing strategy and enhancing digital capabilities

Revamped set up for improving Customer Experience through a dedicated Customer Experience Centre of Excellence, adoption of global best practices, Initiation of remedial actions by capture of actionable and comprehensive customer feedback through CSAT & NPS scores.

Evolution of Contact Centres to Customer Delight Hubs by integrating advanced AI capabilities with our core systems.

Improved Lead Drop off management for all key business journeys across physical & digital channels resulting to effective TAT monitoring & improvement.

Streamlining customer convenience by enabling Omni Channel Orchestration & Cross Platform Continuity of digital journeys across multiple channels through improved capabilities

Gen AI Adoption & Agentic AI Adoption – Bank has rolled out Smart Invest AI to offer curated investment options to customers based on their risk appetite/ financial goals and Gen AI Use Cases

Digitization and Automation of collections operations by Leveraging AI Enabled Voice Bots/ Chatbots

Improved Threat Resilience through integration of advanced ROC capabilities and Digital Forensics Readiness to insulate the Bank against emerging cyber threats

Integrated External Partner Ecosystem through digitization of Workflows for External Auditors, Valuers,

Panel Advocates etc.

Optimized capital management framework, capabilities in capital planning process and forward-looking approach at par with industry best practices for improve agility and resilience

Cultivating Future Ready Workforce – Institutionalizing Emotional Wellbeing Assessment, Mentorship program, Counselling support, Employee happiness index metrics, Improved L&D program for safeguarding employee mental resilience coupled with improved agility.

The action points under each phase of EASE Programme envisaged deep-rooted transformation in approach and building new capabilities in PSBs. These advancements have not only modernized the Bank's operations but have also reaffirmed Bank's commitment to delivering seamless, round-the-clock banking with agility and reliability.

This transformation is not just technical – its cultural.

Operating Performance & Key Ratios

The highlights of operating performance of the Bank are as below:

Operating Performance

Net Interest Income of the Bank increased to 47,682crore in FY 2026 from 46,518 crore in FY 2025 and grew by 2.5% on a YoY basis. The Interest Income increased to 1,26,994 crore in FY 2026 by registering a growth of 3.8% on a YoY basis. The Interest Expense stood at 79,311 crore in FY 2026 which was at 75,783 crore in FY 2025.

Other Income of the Bank stood at 15,757 crore in FY 2026 which was at 15,788 crore in FY 2025. Operating expenses of the Bank stood at 31,180 crore in FY 2026 as compared with 29,871 crore in FY 2025. Operating Income of the Bank increased to 63,439 crore in FY 2026 from 62,306 crore in FY 2025, registered a growth of 1.8% on a YoY basis. Total provisions (other than tax) and contingencies was at 7,149 crore during FY 2026 against 5,980 crore during FY 2025. Out of which, Provisions for Non- Performing Assets (NPA) was at 5,694 crore in FY 2026 as against at 5,170 crore in FY 2025.

The Operating profit of the Bank stood at 32,259 crore in FY 2026 against 32,435 crore in FY 2025. The Bank reported a Net Profit of 20,021 crore in FY 2026 as against 19,581 crore in FY 2025 and grew by 2.2% on a YoY basis.

Key Ratios

Cost of deposit (global) decreased to 4.87% in FY 2026 as compared with 5.10% in FY 2025. The Yield on Advances (global) stood at 7.71% in FY 2026. Net Interest Margin (NIM) (global) stood at 2.89% and NIM (domestic) stood at 3.04% in FY 2026. Cost to income ratio stood at 49.15% in FY 2026. Return on Avg. Assets stood at 1.06% and Return on Equity stood at 15.38% in FY 2026.

Resource Mobilisation

( in crore)

Global Deposits & Global CASA

Total deposits of the Bank increased to 16,48,487 crore in FY 2026 from 14,72,035 crore in FY 2025, there by registered a growth of 12.0% on a YoY basis. Total international deposits of the Bank increased to 2,47,197 crore in FY 2026 from 2,29,866 crore in FY 2025, there by registered a growth of 7.5% on a YoY basis.

The global CASA of the Bank grew by 10.2% on a YoY basis, to reach to the level of 6,13,207 crore in FY 2026 from 5,56,666 crore in FY 2025. The total current deposit of the Bank increased to 1,62,664 crore in FY 2026 from 1,43,729 crore in FY 2025, marked a growth of 13.2 % on a YoY basis. The total Savings deposit of the Bank increased to 4,50,543 crore in FY 2026 from 4,12,937 crore in FY 2025, recorded a growth of 9.1% during the period. The global CASA % to global deposit stood at 37.20% in FY 2026 as compared with 37.82% in FY 2025.

Domestic Deposits and Domestic CASA

Domestic Deposit of the Bank increased to 14,01,290 crore as on 31.03.2026 from 12,42,169 crore as on 31.03.2025, registering a growth of 12.8% during the period.

Bank's domestic CASA deposits of the Bank increased to 5,45,034 crore in FY 2026, there by registered a growth of 9.8% on YoY basis. The Bank's domestic CASA Ratio stood at 38.90% in FY 2026. Domestic Current Account deposits registered a growth of 12.9% and reached to 99,105 crore, while domestic Savings Bank deposits registered a growth of 9.1% and reached to 4,45,929crore in FY 2026.

Low-cost deposit mobilization initiatives

In FY 2026, the Bank achieved a milestone by opening 85.17 lakh new CASA accounts, with current account openings crossing 3 lakh, reaching a record 3.17 lakh current accounts. A key focus was driving paperless account openings through VCIP & TAB-based onboarding. The Bank has also introduced premium products for specific customer Segment

—the Masterstroke Lite SB Account, bob Women Sapphire SB Account, bob Aspire NRE SB account —reinforcing its commitment to cutting-edge digital banking solutions. Special emphasis was placed on increasing the penetration of key CASA enablers, which include POS systems, QR code with sound boxes, IP and BCMS. Additionally, efforts were made to activate dormant accounts, initiate DEAF activations, and funding of zero balance accounts.

On the digital front, the Bank has significantly increased client acquisition through various digital channels such as VCIP and TAB mode. During FY 2026, the Bank opened 83868 VCIP SB Accounts. Bank opened 3,17,021 Current Accounts in FY 2026; of which 71% (2,25,446) accounts opened through TAB mode. Furthermore, 48,80,585 Non-FI SB Account opened in FY 2026; of which 63% (30,97,469) accounts opened through TAB mode.

Bank has made significant

Deposit which is well recognized among banking fraternity.

The Bank introduced the bob Parivar Concept, "My Family, My Bank," which extends a range of benefits to family members. This initiative includes tiered offerings for Premium Customers, segmenting them based on their CASA balances into three categories: Rise, Shine, and Sparkle. These customers receive personalized services through assigned personal Relationship Managers to build strong connect and improve the Banking services.

Bank executed more than 400 non-cutomised & customised MoUs with Government Departments & Institutions for acquiring new Salary accounts. Bank's integration with the Ministry of Corporate Affairs Portal for opening Current Accounts of newly formed companies has resulted in the opening of a total of 122 current accounts.

Credit Expansion

The Global Gross advance of the Bank increased to 14,29,879 crore in FY 2026 from 12,30,461 crore in FY 2025, thereby registered a robust growth of 16.2% on YoY basis. The Gross Domestic Advance increased to 11,69,458 crore in FY 2026 from 10,21,112 crore in FY 2025, there by marked a growth of 14.5% during the period. The international advance of the Bank increased to 2,60,421 crore in FY 2026, from 2,09,349 crore in FY 2025, there by registered a robust growth of 24.4% on a YoY basis.

The growth in major credit portfolios of the Bank is given below;

*Ex-pool purchase (Organic)

The Retail Advance (organic) increased to 3,02,598 crore in FY 2026 from 2,56,633 in FY 2025, registered a growth of 17.9% on a YoY basis. Agriculture advances of the Bank increased to 1,91,063 crore and grew by 20.7%, MSME (organic) Advances rose to 1,59,786 crore and grew by 15.6%, on a YoY basis in FY 2026. The retail advance including pool purchase was at 3,20,116 crore and MSME including pool purchase was at 1,64,419 crore as on 31.03.2026. Corporate Loan portfolio of the Bank increased to 4,56,584 crore in FY 2026 from 4,10,461 crore in FY 2025 and grew by 11.2% on under bob YoY basis. Earth Green During FY 2026, the Bank has undertaken several initiatives to expand its credit portfolio across the industry. The Bank has also given focus on digital banking landscape along with its branch banking business to strengthen its advance portfolio thereby enhancing customer convenience and improving turnaround time in credit delivery. The Bank's

Digital Lending Platform continued to facilitate ease of doing business by offering seamless and customer-friendly digital loan journeys. During the year, the Bank introduced and strengthened various digital lending products including bob Insta Personal Loan (bob IPL), Digital Two-Wheeler Loan, Enhanced Earned Salary Advance Drawals Access Scheme and Digital PM Surya Ghar Yojana under the Retail Lending segment. Further, PM Vishwakarma was implemented on the digital banking platform for its ETB customers. In the Agriculture segment, the Bank launched digital products such as Digi Tractor Loan, Digital Gold Loan and Digital BKCC to further augment digital lending business during FY 2026. The Bank also conducted various business campaigns through its Zonal and Regional Offices during the year, aligned with festive specificbusiness seasons and region-opportunities, with the objective of enhancing its credit growth across different geographies of the country.

Corporate Credit

Corporate credit in the Bank is serviced through 34 specialized Corporate Financial Services (CFS) & Mid Corporate Branches (MCB) which manages approximately 95% of the total standard corporate credit portfolio of the Bank. The corporate credit portfolio of the Bank increased to 4,56,584 crore in FY 2026 as compared with 4,10,461 Crore in FY 2025, there by recorded a growth rate of 11.2% on a YoY basis.

*External Rating Distribution of Domestic Advances above 50 crore Total portfolio comprising of A & above in FY 2026 was 96% as against 95% in FY 2025.

Corporate Banking – Structure

During the year, bank has continued with its strategy to focus on Mid Corporate Advances, through -4- Mid Corporate Clusters located at strategic locations i.e. New Delhi (North), Chennai (South), Mumbai (West) and Kolkata (East) and Mid Corporate Branches tagged to them.

Target Market Approach

The Bank follows a target market approach which has the following features:

Identification of industries / sectors for growth based on industry outlook i.e. the combined output of various industry parameters including market size, growth, demand-supply outlook, cost structure, competition, financial performance, government policies and investment outlay.

Sector-wise business plan for target market lending, based on exposure caps, existing exposures and further appetite for fresh acquisitions.

Detailed account planning with structured calling plans for meetings, identifying business opportunities, approval and closure.

Execution of the business plan under target market approach through dedicated relationship managers across the Bank.

The Bank focuses on overall yield from the customer rather than interest income by offering ancillary services like supply chain finance, value chain finance, cash management system facility and other retail products.

MSME Credit

The MSME portfolio of the Bank (excluding TWO and pool purchase) increased to 1,59,786 crore in FY 2026 from

1,38,190 crore in FY 2025, registered a growth of 15.6% on a YoY basis. During the year, the Bank has taken the following initiatives to augment MSME business with improved asset quality:

1. Formation of 363 Specialized MSME Branches (SMB) with exclusive team. These focused branches have contributed 27% of the MSME book with YOY growth of 27.8% & SME Branches (20 nos) contributed 8.5% of the MSME book with YOY growth of 40.6%.

2. Digitalization of MSME loan processing journey through the state of art 'Tejas' Platform.

3. Enhanced focus on emerging product segments leading to over achievement of target.

TReDs have achieved a YOY growth of 104%.

Supply Chain Finance has achieved a YOY growth of 65.2%

BPP/LAP segment has achieved a YOY growth of 41.4%.

Core MSME segment has achieved a YOY growth of 12.1%.

4. The Bank has also achieved Targets (104%) under PMMY Scheme.

5. The improvement in the asset quality is further evidenced by the fact that the Gross NPAs have come down 237 bps to 5.14%, the Core MSME NPAs have come down 290 bps to 6.73% and SCF & TReDS virtually nil NPA (<0.2%) in FY 2026.

Retail Credit

The organic Retail Loans increased to 3,02,598 crore in FY 2026 from 2,56,633 crore in FY 2025 and grew by 17.9% over the previous year. Retail loan share (including Pool, staff, LABOD and others) in total domestic loan book increased to 30.6% in FY 2026 from 30.1% in FY 2025. The gold loan under the retail portfolio registered a growth of 98.0% on a YoY basis, reached to 14,010 crore in FY 2026. The Auto Loan segment marked a robust growth of 20.6% on a YoY basis, reached to 56,157 crore in FY 2026. In Other Retail Loans, PM Suryaghar grew to 1555 crore in FY 2026 from 288 crore in FY 2025, with a YoY growth of 439.9%. The Mortgage Loans marked a growth of 19.3%, Home Loan segment registered a growth of 14.6%, Education Loans grew by 10.9% and Personal Loan grew by 8.7% on a YoY basis in FY 2026.

The Retail Asset of the Bank (excluding TWO, including pool purchase) increased to 3,20,116 crore in FY 2026 from 2,74,493 crore in FY 2025, registered a growth of 16.6% on a YoY basis. The detail of the growth of Retail loan segment is given in the below table.

Retail portfolio (organic) of the Bank

*Ex-pool purchase & Excl. TWO.

The key highlights of retail business in FY 2026 include: Retail loan share in total domestic loan book increased to 30.6% in FY 2026 from 30.1% in FY 2025.

New 13,89,919 number of retail loan accounts have been sanctioned amounting to 1,18,650 crore during FY 2026.

2,500 Retail Thrust Branches have been identifiedfor focused growth in retail segment. 119 RAPCs contributed 44.91% of total sanctions ( 53,286 crore) with a YoY growth of 12% in RACPC sanctions during FY 2026. The average TAT reduced to <5 days.

On digital front initiatives, end-to-end digital processes has been implemented in Personal Loan, Auto Loan, Education Loan, Pension Loan, Baroda Flexi loan over home securities, Retail Gold Loan, PM Surya Ghar Scheme and in two-wheeler loans. During the FY 2026, the Bank has digitally disbursed 5,543 crore in Personal Loans, 3,237 crore in Auto Loans, 397 crore in PMSGY, 2 crore in Top-Up Loans, 35 crore in Education Loans, 13 crore in Pension Loans, and 1,883 crore in Gold Loans through end-to-end digital journeys. This has enhanced customer experience by eliminating the need of Physical documentation and branches visit.

The Bank has helped students to realise their academic dreams by disbursing education loans of 2,875 crore in FY 2026. Disbursement Target under PM Vidyalaxmi Scheme by DFS was 100 crore and the Bank has achieved 121 crore. Fresh Disbursement Target under overall Education Loan Scheme by DFS was 1,300 crore and the Bank has achieved 1,511 crore.

The Bank has achieved several significant

2026. Under PM Suryaghar Yojana (a GOI flagship scheme), we successfully crossed more than 1 lakh sanctions within a single financial year, and our cumulative sanctions have surpassed the landmark figure of 1.25 lakh. In addition, the

Bank has maintained its second position after SBI as on 31.03.2026, which reflects the collective commitment and efforts of all Zones, Regions and operating units.

In Home Loan segment, 38,613 crore loan was disbursed, and 1,04,718 number of new customers were added in FY 2026. In Education Loan 30,051 new customers added and in Personal Loan 3,57,706 new customers were added in FY 2026. New Home Loan Cash Flow based home loan journey introduced along with special takeover journey and statistical scorecard model.

In Auto Loan segment, 23,984 crore loan was disbursed, and 2,36,828 number of new customers were added in FY 2026. BOB Green Wheel Product was launched in September 2025 to promote green financing (Electric Passenger Car), under which disbursement of 770 Crore were achieved during the last 07 months of FY 2026. Digital Two-wheeler auto loan journey was launched in July 2025. DSA & DST assisted digital auto loan journey was enabled by enhancing the existing digital platform, which led to a significant auto loan penetration to 16.3% in FY 2026 as compared to 3.33% penetration in FY 2025. The Digital penetration further improved to 31% in March 2026. A Statistical Score Card Model introduced in Baroda Auto Loan & Baroda Personal Loan in January 2026 to strengthen the underwriting process for ETC customers.

Vendor Management Module Launched in LLPS. Uploading of Deviation Note in LLPS portal at the time of sanction has been enabled in LLPS portal. Account Aggregator & Analyser (including GST Aggregator Integration): Enabled Account Aggregator and Analyzer functionality across all retail products. Additionally, GST Aggregator functionality has been made live to support enhanced financial assessment.

Rural and Agricultural Lending

Bank has a network of 8,648 domestic branches, of which 5,246 rural and semi urban branches are leveraged fully for priority sector and agriculture lending. The Bank's agriculture advances increased to 1,91,063 crore as on 31st March 2026 from 1,58,324 crore as on 31st March 2025, marked a growth of 20.7% on a YoY basis. The Agriculture Advances of the Bank has a share of 16.3% of the gross domestic credit of the Bank.

Bank is the convener of State Level Bankers' Committee (SLBC) in 3 states i.e. Uttar Pradesh, Gujarat and Rajasthan and Union Territory Level Bankers' Committee (UTLBC) in the Union Territory of Dadra and Nagar Haveli and Daman and Diu. Bank also shoulders the Lead Bank responsibility in 73 districts across the country.

Bankcontinuestobeoneoftheleadersinlendingtoagriculture sector, which received an impetus with the Government's vision of "Atmanirbhar Bharat". The Bank has moved beyond granting simple farm-based credit to a more diversified rural lending strategy to encourage capital generation to farmers and build a robust infrastructure in agriculture and Animal Husbandry. The Bank has also focused more on newly introduced products such as Agriculture Infrastructure Fund (AIF), Animal Husbandry Infrastructure Development Fund Scheme (AHIDF), PM Formalisation of Micro Food Processing Enterprises (PMFME), National Livestock Mission (NLM), Pradhan Mantri Kisan Urja Suraksha Evem Utthan Mahabhiyan Scheme (PM Kusum), Pradhan Mantri Matsya Sampada Yojana Scheme (PMMSY) and Compressed Biogas products.

Bank continues to focus on its flagship products like KCC,

Financing to Self Help Groups (SHGs), Agri Gold Loans, Farm mechanisation (Tractor loans), Horticulture loans, Financing to Farmer Producer Organization / Farmer producer company (FPO/FPC), Hi-tech Agriculture and Food and agro processing. During the year, the Bank has issued 2.40 lakh new Kisan Credit Card (KCC) of which 0.90 lakh are Animal Husbandry and Dairy (AHD) KCC issued to farmers engaged in animal husbandry and fisheries activities. We have grown by more than 5.3% in Kisan Credit cards. As part of microfinance initiatives, Bank has credit linked 34,892 SHGs by granting loans amounting to 1,973 crore during FY26. Our Gross NPA in agriculture is also reduced to 4.54% in FY 2026 from 4.80% in FY 2025.

Bank is pursuing tie ups with various private partners to enhance credit linkage of SHGs. Bank has also introduced TAB banking facility, to improve Turnaround Time and to enable hassle free instant Savings Bank Account opening for SHGs. In Tractor loans, rate of interest has been linked with LTV of Tractor for the convenience of farmers. On digital front, BKCC (up to 7 Lakhs) and gold loan journeys are live on a pan India basis. Digital journey for Tractor loan is now live for five zones i.e. Lucknow, Varanasi, Bareilly, Jaipur and Bhopal

Zones on pilot basis.

We have been identified as Nodal Bank for Agriculture

Infrastructure Fund Phase 2 implementation in India. We have sanctioned 1491 crore during FY 2026 under AIF and surpassed the targets allotted by the GoI. Establishment of national level sales & marketing structure for agri business by recruitment of 200 Agriculture Sales/Marketing Officers is under process. In FY 2026, we have Introduced new product

"BOB GREEN KRISHI" to promote organic farming on the lines of Kisan Credit Card. We have also revamped product "bob AGROFOOD" for financing Food & Agro Processing units under Agriculture segment. Under PM KUSUM scheme, we have launched all India scheme for Feeder Level Solarization in "Component C" for Farmers in line with MNRE Guidelines. During the financial year, the Bank's Centre for Agriculture

Marketing and Processing (CAMP), a dedicated centralized centres for processing of agriculture loans with a special focus on non-traditional and high value Agri advances at its various zonal level (Z CAMPs-27) and regional level (R CAMPs -17) has sanctioned loans amounting of 5,734 crore.

"BARODA KISAN PAKHWADA" is Our Bank's annual farmer outreach programme which is observed every year. During

"BARODA KISAN PAKHWADA", Branches of our Bank organize various functions/ events of farmers/SHG/ health check-ups of live stocks /Soil Testing and other activities/ meetings to reach out to maximum number of farmers. During FY 2026, the Bank celebrated 8th edition of "Baroda Kisan Pakhwada" (03.11.2025 to 15.11.2025) a Nationwide flagship rural outreach imitative. We have engaged with over 3.65 lakh farmers across India and cumulatively sanctioned agri loans of approx 5,636 crore. This year's theme, "Towards Atmanirbharta", focused on expanding financial inclusion and strengthening support for India's farming community.

Priority Sector Lending

Average Priority sector advances of the Bank increased to 3,90,571 crore during FY 2026 from 3,47,466 crore as of FY 2025 and registered YoY growth of 12.41%.

Advances to SC/ST Communities

The outstanding advances to Scheduled Caste & Scheduled Tribe (SC/ST) communities went up to 29,908 crore as of 31st March 2026. The SC/ST communities accounted for 18.85% share in total advances granted to weaker sections by the Bank.

Further, special thrust is given by the Bank in financing SC/ST communities under various Government sponsored schemes such as National Rural Livelihood Mission (NRLM), MUDRA Loan, Startup India and Stand-Up India.

Gold Loan

Bank's gold loan portfolio (excluding TWO) increased to 97,745 crores, as on 31st March 2026, from 63,959 crores, on 31st March 2025, registering a growth of 52.8%. Within gold loan portfolio, Agriculture gold loans grew by 46.6%, reaching 83,225 crore in FY 2026 from 56,783 crore in FY 2025. Retail gold loan increased to 14,010 crores in FY 2026 from 7,076 crore in FY 2025, registering a growth of 98%. During the year, the Bank has added 142 new gold loan disbursing branches, taking the total number of Gold Loan designated branches to 6,271 in FY 2026 from 6,129 branches in FY 2025. The increase in spread of Gold loan designated branches across the country with share of geographies other than southern parts stands at 31.28% in FY 2026 as compared to 30.10% in FY 2025. Average ticket size of a gold loan increased to 2.93 lakhs in FY 2026 from 2.09 lakhs FY 2025. Average amount of gold loan per branch increased to 15.57 crore in FY 2026 from 10.44 crore in FY 2025. Credit quality of the Gold Loan portfolio remained healthy, with a GNPA ratio of 0.12% as on 31st March 2026.

Financial Inclusion (FI)

In order to provide universal banking services to all sections of the society especially to rural, semi-urban and urban poor at an affordable cost, Bank has taken financial inclusion as a social commitment and an opportunity to tap business through Business Correspondent (BC) model. The Bank has been actively working towards ensuring financial inclusion in the country through its branches and BC network. With the advent of technology, innovative steps are being taken for serving the unbanked areas.

Bank expanded its BC network to 50,660 as on March 31, 2026, to cater to rural, semi urban, urban & metro areas across the country.

Bank took the following additional initiatives at BC Point towards promoting financial inclusion:

Re-KYC through BC Points (First in the Industry)

Inoperative Account Activation at BC Points (First in the Industry)

CKYCR Integration at BC Points (First in the Industry)

Performance highlights under financial inclusion during FY

2026:

Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts increased to 663.29 lakhs in FY 2026 from 643.36 lakhs in FY 2025 with YoY growth of 3.10%.

Target of PMJDY accounts for FY 2026 has been achieved. The target for PMJDY Account was 15.65 lakhs, of which we have achieved 19.93 lakh accounts i.e. 127%.

PMJDY SB deposit increased to 42,585 crore in FY 2026 from 36,355 crore in FY 2025 with YoY growth of 17.14%.

The Bank's share among PSBs stood at 14.80% in PMJDY accounts and 17.45% for deposit in PMJDY accounts, i.e. first amongst PSBs.

As on 31st March 2026, Micro Insurance Enrolment (Live) policies under PMJJBY scheme are 85.24 lakhs and under PMSBY scheme is 295.33 lakhs.

We have enrolled 29.70 lakh Fresh PMJJBY policies i.e., an achievement of 101.85% against proportionate target of 29.16 lakh policies and 58.18 lakh Fresh PMSBY policies i.e., an achievement of 120% against proportionate target of 48.48 lakh policies in FY 2026.

Under Rupay Card Issuance, we stand at 1st position amongst PSBs.

Performance of RRBs sponsored by Bank of Baroda

Earlier, the Bank was sponsoring three Regional Rural Banks (RRBs), namely:

1. Baroda U.P. Bank in the state of Uttar Pradesh

2. Baroda Rajasthan Kshetriya Gramin Bank in the state of Rajasthan

3. Baroda Gujarat Gramin Bank in the state of Gujarat Amalgamation of RRBs was initiated with the issuance of

Gazette Notification CG-DL-E-07042025-262329 dated 07th

April 2025, with the objective of reducing the number of

RRBs to 28 under the "One State One RRB" concept. the

Bank continues to sponsor RRBs in two states, namely Uttar Pradesh and Gujarat. The amalgamation has come into effect from 01.05.2025.

RRBs Sponsored by the Bank (Post-Amalgamation): a) Uttar Pradesh Gramin Bank (UPGB) – formed through amalgamation of:

Baroda U.P. Bank

Prathama U.P. Gramin Bank

Aryavart Bank b) Gujarat Gramin Bank (GGB) – formed through amalgamation of:

Baroda Gujarat Gramin Bank

Saurashtra Gramin Bank

The aggregate total business of these RRBs increased to 2,78,228 crore in FY 2026 from 2,59,764 crore in FY 2025, registering a year-on-year growth of 7.1%. Further, these

RRBs have collectively recorded a net profit of 1,242 crore during FY 2026, reflecting improved operational efficiency and benefits derived from the amalgamation process.

Awards received by our sponsored RRBs during FY 2026:

Our two sponsored RRBs have received numerous appreciations and prestigious awards for their efforts in technology upgradation as well as outstanding performance in various government schemes from various bodies like

PFRDA, IBA, NRLM during the financial year 2026 as under: a) Uttar Pradesh Gramin Bank (UPGB) was awarded the

"Best Performing Bank in SHG Linkage" by Shivraj Singh

Chouhan and received accolades from the Ministry of

Agriculture and Farmers Welfare for "AIF Geo Tagging" and "AIF Best Performance." It was also recognized by the Ministry of Micro, Small and Medium Enterprises for "Best Performance in PMEGP" and by the Ministry of Food Processing Industries under the PMFME scheme. In technology, the Bank secured 5 awards at the IBA Annual Banking Technology Conference, Expo

& Citations and won Gold Awards at the IBEX India BFSI Tech Awards 2026. Additionally, it received 24 National Awards from the Pension Fund Regulatory and Development Authority for its outstanding performance in Atal Pension Yojana (FY 2026). b) Gujarat Gramin Bank (GGB) has achieved significant recognition for its performance and innovation, winning awards for Best IT Risk Management and Best Digital Sales, along with a special mention in Fintech & DPI Adoption at the IBA Annual Banking Technology Awards 2025–26. The Bank was also honoured with the National Award for Best Performing RRB (Western Region) in SHG Bank Linkage, presented by Shivraj Singh Chouhan, and further secured 8 national awards from the Pension Fund Regulatory and Development Authority for its outstanding performance under the Atal Pension Yojana (APY) during FY 2025–26.

Stressed Asset Management

The Bank believes that continuous day-to-day monitoring is the first step towards reduction in non-performing loans and thus ensuring good recovery. For this, the Bank undertook various steps and formulated strategies to augment recoveries and reduce slippages.

Bank is strategizing to touch each and every NPA account in a scientificmanner. Bank has a special skill-set under an Apex

Vertical ‘Stressed Assets Management Vertical', at Corporate

Office. Under the vertical there are -5- Stressed Assets

Management Branches (SAM) with special skill set to cater all accounts under National Company Law Tribunal (NCLT), -12- Stressed Assets Recovery Branches (SARB Branch) at Zonal level to handle NPA accounts other than NCLT with outstanding balance above 5 crore. These Branches are under direct supervision of Corporate Office to reduce TAT.

Further -69- Regional Stressed Assets Recovery Branches (ROSARB Branch) at Region level are also stablished to handle NPA accounts with outstanding balance above 20 lacs to 5 crore.

Under Govt of India Digital Initiative, Bank has taken several steps for end-to-end digitalization of the entire recovery and monitoring procedure without paper movement and on a real time basis. In this connection bank has taken following initiatives:

1. QLIK: It picks several data points from FINACLE on real time basis without manual intervention and calculates Days Past Due (DPD) Report, NPA Movement Chart and Mock Runs – for forecasting daily degradations.

2. ILMS: Mobile app and Desktop based portal which is an online repository of entire NPA A/Cs irrespective of amount. It provides online 360-degree live monitoring of accounts without any manual intervention, like SARFAESI status, DRT/NCLT status, Provisioning, Daily Recovery, lawyers performance analysis and online submission/ sanction of OTS proposals to reduce the TAT.

3. Bank is member of BAANKNET (Bank Assets Auction Network) portal of PSB alliance Pvt Ltd. which is being used for auction of properties under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI).

4. E-OTS: A Non-discretionary and Non-discriminatory Digital E-OTS scheme has been introduced under EASE 7.0, which reinforces our Bank's leadership in meeting government priorities. Digital processing enables cost and time savings, with payments made via QR code and no need for branch visits. Borrowers can download the sanctioned letter and No Dues Certificate online.

Bank also adopted the following strategies for recoveries and reduce slippages.

1. To have a proper monitoring of the portfolio of Agriculture, MSME and Retail Loans we have taken a cluster / area approach with dedicated recovery officers.

2. Proper allocation of small NPA/SMA accounts to Recovery Agents / Feet on Street is done by Portfolio Managers at ZO/RO level to have a monitoring.

3. Introducing the Pre Lok-Adalat meetings for maximum participation of borrower during the Lok Adalats and resolved the long pending cases under the DRT Lok-Adalats /National Lok-Adalats.

4. Bank has initiated the SARFAESI action in all eligible NPA accounts and continue the action till conclusion / disposal of asset & recovery in the account. We are also listing/ publishing the auction property details on Bank's website, Newspaper, Radio, social media web portals and as well as leading property broking web sites.

5. To address the large number of small NPA accounts, Bank has introduced special One-Time Settlement

(OTS) scheme "Rin Samadhan Yojana" for settlement . of NPA (DBII/DBIII/Loss) /TWO/ PWO accounts having outstanding balance up to 5.00 Crore under MSME,

1.00 Crore under Retail and 0.50 Crore under Agriculture category.

6. Bank believes in Nation Building by extending hands to stressed entrepreneurs through restructuring as per RBI guidelines. Also to have better and targeted monitoring mechanism & reduction in SMA – I & SMA - II accounts of large corporate are being monitored by Stressed Asset Management Vertical in coordination with Credit

Monitoring Vertical to find out the resolution and exploring all prospects of recovery and up gradation.

The movement of NPAs during the last two years is as under:

As per asset classification, the bifurcation of loan book is as given below:

International Banking

The Bank has -80- overseas branches/offices across -15 countries comprising of -35- overseas branches/offices

( including -1- International Banking Unit in GIFT City, Gandhinagar, Gujarat, India and -9- EBSUs in UAE), -45- branches of the Bank's -7- overseas subsidiaries. In addition, -1- associate bank viz. Indo Zambia Bank Ltd. in Zambia with -43- branches.

The Bank has presence in the world's major financial centers of New York, London, Dubai, Singapore and Australia. In addition, Bank has a branch in GIFT City (SEZ), Gujarat, India which is treated as an offshore banking unit and has been chosen as a center for business growth taking into consideration the immense business potential, tax advantage, Government initiatives etc. Bank has taken various proactive steps in creating world class infrastructure for the branch in IFSC including state of the art dealing room for International treasury of global standard.

Bank pursues a strategy of driving growth and value by meeting the international banking requirements of Indian corporates; catering to India linked cross-border trade flows for Indian and locally incorporated companies or firms being the preferred Bank for NRIs/ Persons of Indian Origin. Looking into the available business opportunities, Bank has also diversified the advances on Non-India related syndication loans in the primary and secondary market. Also, various new products have been launched to broaden the product basket on the asset side Further, in overseas centers, substantial progress has been made in IT up gradation for end-to-end business solution, with a focus on digitization and centralization, to improve productivity and customer experience. Bank is continuously integrating multiple platforms of technology to generate synergies. During the year, Bank has taken various steps to automate the Risk & Compliance monitoring.

Bank has strategically undertaken rationalization of its overseas presence based on a comprehensive evaluation framework. Now, the Bank is restrategising its International Operations in line with the new global environment and focused on rebalancing the portfolio with a view to manage risks, shed low-yield assets and increase profitability.

In FY 2026, the Bank's total business (Net) from international branches was 5,05,017 crores and constituted 16.5% of the global business. Total deposits were at 2,47,197 crores while net advances were 2,57,821 crores.

Foreign Exchange Business

With an objective to implement high standards of compliance in line with extant regulatory guidelines with improved operational efficiency, service delivery and quality, our Bank has set up Trade Finance Back Office at GIFT City,

Gandhinagar(India's 1st smart city) along with BCP set up at Bengaluru to cater trade finance services of its pan India customers. The centralized unit processes over 1.1 million transactions annually for our trade finance customers. The significant developments aimed foreign exchange business in the financial year 2026 are as follows:

-

Bank has automated cross border Inward Remittances (IR) below USD10,000 for certain purposes. During FY 2026 we have successfully handled 76,763 transactions through Straight through processing as compared to 64,885 transactions in FY 2025. This accounts for 21.35% of total IR transactions processed during the FY 2026 and reflects a significant time (TAT).

To expedite the credit of inward remittances to customer accounts,BankhasintroducedtheIRDisposalInstruction functionality through the BarodaINSTA SMART TRADE Portal during FY 2026. With this facility, inward remittance messages (other than STP inward messages) received in the Bank's system are made available to customers on the Smart Trade portal. Customers can conveniently submit their disposal instructions online from their office or home eliminating the need to visit the branch.

This initiative not only saves time but also improves turnaround time (TAT) for crediting inward remittances. So far, Bank has successfully processed over 1,400 and inward remittance transactions using the IR disposal facility through SMART Trade portal.

Bank has launched Liberalized Remittance Scheme portfolio by taking exposure

(LRS) facility through BOB-World and Internet Banking enabling individual customers to initiate transactions under LRS for specific purposes viz. gift / family maintenance from their Mobile and Internet Banking Portal. A total of 3,793 transactions has been facilitated through the said platforms in the FY 2026, accounting for 9.32 % of the total LRS transactions processed in the year.

Bank has created an accessible 24/7 SMART TRADE PORTAL for its customers, enabling them to initiate inland as well as forex trade transactions from the comfort of their home or office, reducing the necessity for branch visits. This channel has onboarded a total of 5,042 customers, including 342 during the current financial year, facilitating 14.35% of the total trade transactions (both inland and foreign) through the portal.

Bank has partnered with NeSL (National E-Governance Services Limited) to enable end-to-end issuance of Inland Bank Guarantees through a fully digital mode, enhancing security and significantlyreducing turnaround time (TAT). As part of this initiative, our Bank has set an industry benchmark by rapidly achieving key milestones in the issuance of Electronic Bank Guarantees (e-BGs) on the National E-Governance Services Limited (NeSL) platform. During FY 2026, the Bank issued 7,379 Inland Electronic Bank Guarantees (e-BGs), an increase from 4,677 e-BGs issued in FY 2025. This brings the total number of Inland e-BGs issued to 14,066 since the commencement of digital issuance through the National E-Governance Services Limited (NeSL) platform.

Further, during FY 2026, the Bank introduced hybrid at enhancing the overall e-Bank Guarantees (eBGs), enabling the subsequent lifecycle activities of bank guarantees such as amendments, extensions, and closures originally issued in physical form to be managed seamlessly through the NeSL portal.

As on 31st Mar 2026, Bank has established 17 Special Rupee Vostro Accounts for Banks worldwide, to spearhead the Government of India's drive to promote INR denominated trade transactions via the Special Rupee Vostro Account (SRVA) mechanism.

Domestic Treasury Operations

The Bank operates its treasury operations from a state of the-art dealing room at its Corporate Office in Mumbai.

The treasury is a prominent player in various markets such as foreign exchange, interest rates, fixed income, money market, derivatives, equity, currency and interest rate futures and other alternate asset classes. The Bank offers various services like interest rate swaps, currency swaps, currency options and forward contracts through authorised branches dealing in foreign exchange across India.

Treasury maintains the regulatory requirements of CRR and Statutory Liquidity Ratio (SLR) and manages the fund position. Treasury borrows/invests in money market and capital market instruments as part of fund management operations.

The total size of the Bank's domestic investment book as of 31st March 2026 stood at 3,72,318 crore. The share of SLR securities in total investments was 82.12%. The percentage of SLR securities (unencumbered) to Net Demand and Time Liabilities (NDTL) as of 31st March,2026 was at 22.34%. The Bank capitalized on the opportunities offered by yield movements. The Bank managed its portfolio efficiently maintained yields on interest bearing investments for FY 2026 at 6.87%. During FY 2026, the profit on sale of investment and foreign exchange earnings were 3839.49 crore and 882.06 crore respectively.

Government Business

The Government Relationships Vertical occupies a strategic and pivotal position within the Bank's overall framework, acting as a key enabler in catering to the diverse and evolving banking requirements of Central and State Governments, as well as Public Sector Undertakings (PSUs) across India. It serves as a cornerstone in strengthening the Bank's engagement with government institutions while driving sustainable business growth.

The Bank is entrusted with the seamless processing of a wide spectrum of critical government transactions, including pension payments for Central and State Governments, postal transactions, direct and indirect tax collections, and Treasury/Sub-Treasury operations. In addition, it manages a comprehensive portfolio of Government-backed savings and investment schemes such as Public Provident Fund (PPF), Senior Citizens' Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Pension System (NPS), Atal Pension Yojana (APY), e-Kisan Vikas Patra (e-KVP), RBI Bonds, and Sovereign Gold Bonds (SGB). These activities not only support national financial inclusion objectives but also contribute significantly to the Bank's fee-based income, amounting to 95.56 crore in FY 2026, while enhancing the Bank's reputation and credibility.

Beyond transaction processing, the Bank plays a proactive role in deepening relationships with government entities by facilitating the opening of accounts for various Central and State Government departments and organizations. This engagement significantly contributes to the mobilization of

CASA deposits, thereby strengthening the Bank's low-cost deposit base. As on 31st March 2026, Government CASA stood at 66,926 crore.

The Bank also drives digital integration and ecosystem development by supporting onboarding on key government platforms such as the Government e-Marketplace (GeM) and the Public Financial Management System (PFMS). These initiatives enhance transparency, improve transaction efficiency, and position the Bank as a preferred partner for government business.

With a strong focus on innovation and technology, Vertical provides customized IT-enabled solutions tailored to the specific requirements of various government departments. This enables process optimization, operational efficiency, and seamless service delivery across geographies.

As an accredited banker to prestigious ministries such as the Ministry of Health & Family Welfare and the Ministry of Law

& Justice, the Bank extends value-added services beyond conventional banking. These include active canvassing of government CASA accounts, end-to-end support for PFMS integration, and continuous guidance to branches engaged in government business.

In essence, the Government Relationships Vertical functionsand as a trusted and strategic partner to government institutions, delivering comprehensive, technology-driven, and customer-centric banking solutions. Through its unwavering commitment to excellence, innovation, and relationship management, the Vertical continues to play a vital role in supporting governance and contributing to the nation's economic development.

Wealth Management

The Wealth Management vertical continues to be a key Strategic Business Unit of the Bank, demonstrating resilience and stability despite a challenging operating environment marked by regulatory changes and market volatility. During FY 2026, the business maintained steady fee income generation of approximately 508 crore, reflecting the strength of the

Bank's distribution network and customer engagement model.

With a strong foundation in digital innovation, integrated distribution strategies and customer-centric engagement, the vertical remains well-positioned to accelerate growth, enhance Assets Under Management (AUM), and deepen its presence across diverse client segments.

Industry Recognition

The Bank continues to be recognized for its strong performance and leadership in wealth management:

Recognition for "Excellence in Customer Experience

SmartInvest – India Fintech Summit & Awards 2025".

Strategic Focus Areas

To cater to both retail and affluent segments, the Bank has sharpened its focus on:

Strengthening Relationship-led Banking: Transition from product-led selling to a relationship-driven approach through the Radiance channel.

Expansion of Coverage: Scaling presence from Top-30 to Top-50 cities to unlock growth potential in emerging markets.

Digital Adoption & Integration: Enhancing customer journeys through platforms like SmartInvest and SmartInsure.

Capability Building: Strengthening workforce through structured training and certification-led distribution models.

Digitization Initiatives

Digitization continues to be the cornerstone of the Bank's wealth strategy, enabling scalability, efficiency, and enhanced customer experience:

SMARTINVEST: The Bank's flagship digital investment platform achieved a milestone of 500 crore business in FY26, with ~50% growth in value and ~74% growth in transactions, reflecting strong customer adoption. The platform offers seamless mutual fund investments and portfolio management capabilities.

SMARTINVEST AI: Introduction of an AI-powered conversational wealth assistant, enhancing customer engagement and positioning the Bank as a digital innovator.

SMARTINSURE: Strengthened platform capabilities with ongoing enhancements to integrate customer 360? view, campaign management modules, and seamless linkage with loan origination and lead management systems.

Account Aggregator Integration (Upcoming): Enabling a consolidated view of customer portfolios, improved risk profiling, and personalized investment advisory.

Skilled Workforce & Ethical Sales

A sustained and strategic emphasis continues to be placed on enhancing staff capabilities and upholding the highest standards of ethical business practices. In this direction, the Bank has strengthened its training ecosystem through structured, certification-led programs aimed at fostering culture of compliance-driven and customer-centric advisory excellence.

Despite a challenging year marked by regulatory changes and market volatility, the Wealth Management vertical demonstrated stable business performance with sustained strong traction across segments, with Life Insurance income of ~ 268 crore and continued growth in Non-Life (5% Y-o-Y) and Health Insurance (5% Y-o-Y) segments, alongside maintaining a robust Investment AUM of ~ 16,750 crore - reflecting the strength of the Bank's distribution capabilities and enduring customer trust.

The Bank continues to invest in building a skilled and compliant workforce:

Successfully conducted 3rd and 4th phase of STEP-UP (Staff Training & Excellence Program) training for all Wealth Management personnel pan India to make them abreast about the latest developments in wealth management paradigm.

Deployment of a comprehensive manpower strategy with dedicated resources for the Radiance channel and Wealth Executives to improve customer engagement and productivity.

Focus on certification-led training programs to enhance advisory quality and ensure regulatory compliance.

Implementation of standardized frameworks such as the Account Debit Matrix to ensure transparent and compliant cross-selling of insurance products.

Continued emphasis on ethical, customer-first advisory practices aligned with regulatory expectations.

Customer & Stakeholder Engagement

The Bank remains committed to strengthening engagement with customers and stakeholders through structured and innovative initiatives:

"Wealth Insight" Monthly e-magazine for regular dissemination of market insights, research reports, and product updates to enhance awareness.

"Thursday Thoughts" Weekly emailer to all employees to spread awareness about the nuances of investment and insurance.

"Wealth Bulletin" A bi-monthly internal publication for the Wealth Management Services (WMS) team.

Exclusive webinars and engagement programs for HNI/ UHNI clients to deepen relationships.

Baroda Cash Management Services

Baroda DigiNext, the Bank's Cash Management Services platform, offers a robust suite of omni-channel digital solutions designed for Corporate, MSME, and Government customers to efficiently manage their cash

Over the past three years, the platform has witnessed remarkable growth, becoming a preferred solution for key government departments and corporate entities to manage their collections.

Baroda DigiNext provides integrated, paperless payment solutions through both Host-to-Host (H2H) and API channels, enabling seamless transactions for both government and corporate clients. The platform also delivers real-time visibility into all types of receipts—including electronic payments, cheque clearances, and cash deposits made at branches across the country. During the year, we have introduced new products like- electronic NACH facility, dedicated CMS

Mobile Application (for android)- mDiginext and OTP based Direct Debit Mandate Registration for the convenience of customers.

In FY 2026, Baroda Cash Management Services continued to expand its reach, establishing over 1,986 new client relationships. A dedicated cell has also been created within BCMS to cater to MSMEs, Supply Chain Finance (SCF), and

Microfinance Institutions (MFIs). During the year, more than

10.5 crore transactions were executed through the DigiNext platform, underscoring its growing adoption and operational efficiency.

Digital Banking products

The Bank is committed to digitisation and continuously strives to migrate transactions to digital channels which leads to better customer experience. The major focus of digital banking is to make Bank's products available to customers through digital and alternate delivery channels. The key instruments in digital banking are bob World, bob World UPI, Baroda Connect, Debit Cards, Prepaid Cards, BHIM Aadhaar, ATM and Cash Recycler machines, Self Service Passbook Printers (S2SPBP), TAB Banking, Internet Payment Gateway (IPG), Bharat Bill Payment Services (BBPS), Baroda FASTag, Bharat QR, Point of Sale (POS), etc. bob World Merchant UPI QR

Bank has been able to achieve 33.12 lakh bob World UPI QR Merchant base with the addition of 7.63 lakh new merchants on UPI QR platform in FY 2026. As of March 31, 2026, a total of 7.43 lakhs bob World Merchant UPI QR activations have been achieved. The Bank has also been able to achieve a total of 29.70 crore valued 63,741 crore Financial transactions through bob World Merchant UPI QR during FY 2026.

Sound Box initiative

Bank launched UPI QR Sound Box facility to its merchants in November 2023 and successfully achieved a total installation base of 2.32 lakh Sound Box devices as of 31st March 2026. bob World

During FY 2026, bob World activated user base has been increased by 24.78 lakh users. As of 31st March 2026, a total of 352 lakh users have been activated on bob World. The total number of financial transactions over bob World platform have crossed 11.82 crore and Non-Financial transactions have crossed 228.08 crore during FY 2026.

Debit cards

As of 31st March 2026, the Bank has a debit card base of 8.76 crore. To boost e-commerce and POS transactions and position the Bank's debit card as the preferred payment option for customers, the Bank collaborated with various merchants to provide attractive offers for debit cardholders. In FY 2026, the Bank has launched various promotional campaigns in partnership with 14 popular merchants. In FY 2026, the Bank introduced new debit card variants to cater to diverse customer segments out of which the prominent variants are mentioned as under:

bob inSIGHT Braille Debit card, exclusively for visually impaired customers, introduced with feature embossed markings to facilitate easy identification and differentiation by touch, thereby empowering users with greater independence and security in their financial transactions. This aligns with our institution's commitment to inclusivity and customer-centric innovation.

bob Bhoomi RuPay Select Debit card: As part of Green Banking initiative and to actively contribute to a sustainable future, Bank introduced the bob Bhoomi RuPay Select Debit Card, crafted using recycled PVC

(rPVC). This initiative marks a significant milestone in our journey toward responsible banking, offering customers a sustainable alternative to conventional plastic cards and reinforcing our commitment to environmental stewardship.

Baroda FASTag (National Electronic Toll Collection - NETC)

In FY 2026 the Bank has issued 0.94 lakh FASTag and tag base reached to 13.15 lakh. The Bank has also processed 4.41 crore FASTag toll transactions amounting 523.83 crore in FY 2026.

Point of Sale

The Bank's Point-of-Sale (POS) infrastructure enables customers to make payments to merchants for goods and services through debit, credit and prepaid cards, as well as QR-based transactions. The POS ecosystem represents an integration of robust hardware and software solutions to facilitate secure and efficient payment processing.

It also facilitates our current/OD/CC/SB account holders with integrated POS solutions that are designed to meet their unique requirements as per their line of business activities, minimizing the cost of desktop systems and printers in shops, and optimizing hardware usage for a more efficient and cost-effective business operation.

Our POS business parameters has demonstrated consistent growth. POS terminal base has increased to 61,088 in FY 2026 from 52,652 in FY 2025, reflectinga YoY growth of 16%.

Similarly, the turnover on POS rose to 8,226 crore in FY 2026 from 7,790 crore in FY 2025, registering a YoY growth of approximately 5.6%. POS terminals being the CASA enabler for the Bank, also registered growth to 3,111 crore in FY 2026 from 2,552 crore in FY 2025, reflecting a YoY growth of around 22%.

Bharat Connect (BBPS) (Formerly Known as Bharat Bill Payment System)

Bharat Connect (BBPS) is an integrated bill payment system operational in our Bank since 2017 which provides an interoperable, accessible, and standardized bill payments experience to customers. Bank is authorized by RBI to operate as Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Connect ecosystem, functioning in both capacities as Customer Operating Unit (COU) and Biller Operating Unit (BOU).

In FY 2026, Bank has processed 1.85 Crore bill payment transactions amounting approx. 15,075 crore. Bank has a biller base of 37 active billers on Bank's Bharat Connect (BBPS) platform.

ATM

The Bank has a wide network of 9,538 ATMs and 2,059 Cash Recyclers as of 31st March 2026. These machines feature user-friendly screens that support navigation in Hindi, English and the local language, ensuring a smooth experience for customers in their day-to-day banking operations.

Our ATMs have various features such as Green PIN Generation, National Electronic Fund Transfer (NEFT), Cash on Mobile (cardless cash withdrawal) and Interoperable Card-less Cash Withdrawal (UPI ATM),where customers can withdraw money using UPI QR services (ICCW) of the Bank. Following are the new initiatives undertaken by the Bank during this financial year:

UPI Interoperable Cash Deposit: Customer can deposit cash using UPI App on Cash Recycler Machine.

Dynamic HTML based screens: To enhance the customer experience.

Re-KYC using ATM: Hassle-free Re-KYC for eligible customers.

Internet Payment Gateway (IPG)

The Bank's IPG platform, bob World Merchant Gateway, is a comprehensive online payment solution that enables merchants to conduct business digitally by accepting payments securely in real time. It acts as an interface between merchants and customers, ensuring seamless and secure transaction processing across multiple online channels. bob World Merchant Gateway supports wider range of payment modes including Debit/Credit cards, Net Banking,

UPI, Wallet, AEPS, AADHAR PAY, QR Code, as well as offline payment options such as NEFT/ RTGS, making it a robust solution for e-Commerce and digital business.

To enhance service delivery and scalability, the Bank has partnered with -12- aggregators and master merchants. Bank has on-boarded 2,914 merchants during FY 2026, and total merchant base crossed 10,000+ IPG merchants, with 41% growth in merchant on-boarding and registering CASA balances increased by 29% to 4,600 crore in FY 2026 from 3,566 crore in FY 2025 on YoY basis. bob Pay:

UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood. It also caters to the

"Peer to Peer" collect requests which can be scheduled and paid as per requirement and convenience. The Bank had revamped its UPI app bob World UPI in previous year and renamed it bob Pay with fresh UI. During FY 2026, Bank has on boarded 14.79 lakh new users on its UPI Platform.

BOB World (Internet Banking):

The total number of Internet Banking users of the Bank increased to 131.82 lakh during FY 2026 from 122.05 Lakh during FY 2025

Baroda TabIT:

The Bank embarked upon digitizing its customer on boarding process through tablet for instant CASA opening along with bundle of services (Personalized Cheque Book, Personalized Debit Card, WhatsApp Banking, SMS Alert, Internet Banking) and FasTag Issuance, Credit Card, POS, Soundbox , UPI QR, IPG lead generation through its TAB banking platform – bob World Tab. Bank opened more than 31.12 lakh Savings account and 2.25 lakh Current account through this platform during the FY 2026.

Bank has introduced NRE/NRO account opening through bob World Tab by UAE territory branches (Accounts parked at India based branches).

Bank has introduced various new features in existing account opening process through Tab Banking like Liveliness check & Face match in SB Account, Geo Fencing in Current Account, API based validation of Udyam Aadhaar in Current Account (Individual & Proprietorship), Activation of account at RO level (Third Level) in Current Account (Individual & Proprietorship), CKYC has been made primary mode of onboarding in SB

& CA, BDMS portal enhancement for KYC documents download for SHG accounts and Current Accounts. These functionalities will make account opening process smoother and more secure, ensuring robust compliance with evolving regulatory standards.

Below given are the number of accounts opened / leads generated through the various functionality.

WhatsApp Banking:

The Bank offers WhatsApp Banking, enabling customers to conveniently perform a wide range of banking transactions and service requests through a secure and user-friendly interface. The services span across key areas such as Account Services, Cheque Services, Deposits, Loans, FASTag, Card Services, Shop & Bill Pay, Blocking/Disabling of services, Profile Management & Help, and other value-added offerings. Through this platform, customers can access essential functionalities including balance enquiry, mini statements, cheque status, deposit-related information, loan enquiries, FASTag services, card controls, bill payments, and service requests—all without the need to visit a branch or log into internet banking. The WhatsApp Banking facility enhances customer convenience by providing 24?7 access, simplified navigation, and quick turnaround for routine banking needs.

During FY 2026, the Bank recorded a total of 81.14 lakh new registrations for WhatsApp Banking, comprising 59.26 lakh customers and 21.88 lakh non-customers. As of 31st March 2026, the Bank's WhatsApp Banking user base stood at 2.27 crore. During the year, a total of 11.15 crore transactions were carried out through the Bank's WhatsApp Banking platform, reflecting strong customer adoption and increasing engagement with digital banking services

Digital Banking Units

Bank of Baroda has established a total of 18 Digital Banking Units (DBUs) across the country. These units are designed to offer customized and standardized digital banking products and services catering to both the asset and liability sides of the business. Each DBU operates through two specialized zones: (i) a Self-Service Zone equipped with facilities such as interactive kiosks, ATMs, Cash Recyclers (CRs), passbook printers, etc., and (ii) a Digital Service Assistance Zone, which provides assisted access to a wide range of digital banking services. As on 31st March 2026, the Bank has generated total business of 132.95 crore through these DBUs, reflectingthe growing customer adoption of digital banking channels.

Digital Lending

To support the objective of being a pioneer Bank in Digital Lending landscape, Bank has launched Digital Lending Platform in 2020 with the purpose to target and acquire new customers from diverse segments using digital means. Bank has operationalized STP (Straight through Process) Digital Journeys from initial stage of lead generation till disbursement.

At present 70+ digital lending journeys are live in the Bank. Bank has integrated its Digital Lending Platform with RBIH's

Unified Lending Interface (ULI), 20+ FinTech's and has

100+ digital integrations, for the purpose of Landownership verification, Farm Yield Reports, digital verification, authentication & analysis of Bank statement, Credit Bureau, e-mandate, GST, ITR, Udyam, e-KYC, v-KYC, PAN, e-stamping / e-signing, etc.

Total of 31+ lakh customers have been sanctioned and disbursed Digital Loans value `56,000+ crore.

Digital Lending Platform continuously contributing EASE of doing business.

Retail Initiatives:

bob Insta Personal Loan (bob IPL): bob Insta Personal Loan is End-to-End Digital Loan journey till Disbursement up to 15 lakh, offered to Existing to Bank

(ETB) customers having pre-qualified limits

Digital Two-Wheeler Loan: Digital Two-Wheeler Loan journey is an End-to-End Straight through Process

(STP) that minimizes manual intervention. The Digital Underwriting is based on Account Statement and ITR.

Enhanced Earned Salary Advance Drawals Access Scheme: Enhanced Earned Salary Advance Drawals Access Scheme is a customized Advance Product specially tailored for Permanent Employees of Rajasthan State Government. It is an End-to-End Digital journey in DIY and Assisted mode till Disbursement.

Digital PM Suryaghar Yojana : Digital PM Suryaghar Yojana End-to-End Digital Loan journey in DIY mode from application to Loan Account Opening up to 2 Lakh for existing (ETB) customers of the Bank.

MSME Initiatives:

PM Vishwakarma: The Ministry of MSME, Ministry of Skill Development and Entrepreneurship and Dept. of Financial Services, MoF, GOI launched Pradhan Mantri

Vishwakarma scheme, this scheme offers finance to artisans or craftsperson working with hands and tools and engaged in one of the 18 identified family-based traditional trades, in unorganised sector on self-employment basis. Our digital journey is End to End from application to loan account opening and disbursement. The Journey is applicable for ETB customers only.

Agri Initiatives:

Digi Tractor Loan: Digi Tractor Loan is an End-to-End digital journey starting from onboarding of customer till Loan Account opening through digital mode with minimal human intervention. The journey is available for Customer in DIY mode till account opening.

Digital BAHFKCC: Digital BAHFKCC is designed for aiding farmers for maintenance of existing Animal Husbandry in the form of Working Capital only. Digital BAHFKCC maybe availed only by farmers having self-owned land.

Digital Gold Loan - Bank has launched a seamless digital journey enabling quick and hassle-free disbursement of gold loans. Enhancements were implemented in the journey to optimize user experience, reducing drop-offs, leading to an increase in disbursements.

Digital BKCC - Bank has launched an end-to-end digital solution covering onboarding to disbursement. Enhancements were implemented in the journey to optimize user experience, reducing drop-offs, leading to an increase in disbursements.

Analytics Centre of Excellence (ACoE):

The Bank continues to accelerate its data-driven transformation by expanding the deployment of advanced AI and ML models, further strengthening its leadership in the field of Artificial Intelligence (AI) and Machine Learning (ML) and continuing to scale its capabilities and deliver impactful business outcomes. For the fourth consecutive year, the Bank has been honoured with the Best AI/ML Bank – 2025 award by the Indian Banks' Association, reaffirming the forefront of AI-led innovation in the Banking sector. Bank has also earned global recognition by securing runner-up award for 2025 Gartner APAC Eye on AI Innovation Award.

The Bank has made significant journey and have developed GenAI and Agentic AI powered products to enhance both customer and employee experiences. It includes SMARTINVEST.AI a cutting-edge Agentic AI-powered conversational chatbot, designed to empower customers to make optimal investment decisions and educate users on a wide range of financial & investment products through an intuitive, human-like interaction offering personalized assistance to customers through intelligent interactions. Bank has introduced Gen AI based Virtual Front

Office (VFO) device which facilitates the Bank's Services

Access through VFO Devices. Key features of the device include AI-Powered and 3D projection of Avatar, Touch-enabled interaction. Bank has launched bob SAMVAD, a multilingual AI-enabled interaction platform application that helps customers and branch staff communicate smoothly across languages. It is designed to remove language barriers in customer service, it enables real-time, natural interactions in a customer's preferred Indian language, helping staff better understand needs, resolve queries faster, and deliver a more consistent service experience across India's diverse linguistic landscape By leveraging AI across its operational and customer ecosystems, the Bank continues to redefine banking experiences with greater agility, inclusivity and innovation leadership.

Information Technology

Bank has introduced new services on the UPI platform, such as FIR (Foreign Inward remittance), UPI Global, UPI123, Integration with DigiNext, Face & Bio authorization, enabling UPI payments from Internet of Things (IoT) devices, Enabling EV Categories, P2P transactions under Credit Line, new handle for SEBI registered intermediaries etc.

Bank has introduced additional functionalities in Central Bank Digital Currency (CBDC) referred to as e (Digital Rupee) viz Interoperable Discount Vouchers, transfer of Programmable tokens to other Bank customers, Loan disbursement to Small & Marginal Farmers and Direct

Benefit Transfer (DBT) Scheme under Subhadra Yojana of Govt of Odisha for women beneficiaries through

CBDC etc

Bank added new services/ features in Internet Banking Platform to enhance customer experience viz. Bilingual Email Alerts, E-mandate facility in joint Accounts, Liquid Fixed Deposit facility, digital insurance solution,

Simplified IMPS, Multiple Nomination facility in Deposit accounts, Credit score using Equifax etc.

Bank is continuously enhancing Tablet Banking to offer new features and services to customers i.e. CKYC Search & download, NRE/NRO Account Opening (UAE), e-Mandate, Customized salary package, Health Account scheme, Udyam API integration, Geo tagging while current account opening etc.

Bank has introduced a comprehensive mobile banking solution "bob World Business" for Retail Merchants,

Traders, MSMEs, and Mid-Corporate customers. progress in its AI adoption Designed as a one-stop digital platform, bob World Business empowers users to manage their banking needs seamlessly from their mobile devices.

Bank has Implemented upgraded version of Debit Card Management System in domestic, functionality for auto blocking of Debit Card due to non uses within 60 days issuance and amalgamated Debit Card Related functionalities as part of RRB amalgamation.

Bank has introduced additional services, enhancements in Digital Lending Platform viz Digital Two-wheeler & Digital Tractor Loan Journey, solar rooftop journey, bob Insta Personal Loan, Pre-Qualified Personal Loan,

STP journey for loan application processing under PM Vishwakarma scheme and Digital Personal Loan product to the employees of Rajasthan govt.

Bank has added new services/ products in Loan Life cycle Management viz. Vahan API integration, Area

Specific Loan, Cash Flow Home loan, Addition of various

Institutions under Bulk retail, Property Pride Scheme,

Integration with PM Vidyalaxmi portal, Cashflow based

STP Loan journey (named as DIGI Udyam), New Modules viz Food & Agro Processing, Mahila Swalamban and PM

Svanidhi Schemes, Cashflow journey for SCF borrowers and Several new institutions added for customised product under bulk retail.

Account opening portal for NRI customers who can open account from home. Customer can upload documents which will be verified at branch or by authorized officials and after verification of the details, account will get opened.

Implemented various green initiatives in the Bank viz. bob Green Wheel Loan, bob Eco Saarthi Education Loan, bob green homes etc.

Bank is continuously upgrading its infrastructure agility and resilience to support banking services and transactions, for higher uptime and performance.

Bank has won honours at the Indian Banks' Association's 21st Annual Banking Technology Awards, recognising its leadership in digital innovation. The Bank emerged winner in Best Tech Talent and received a Special Mention as Best Technology Bank.

Cyber Security

Cyber security remains a core enterprise risk and a Board-level priority for the Bank. As Banking services continue to expand across digital channels, payment platforms, internal systems, and partner ecosystems, the Bank's cyber security framework is designed to protect customer information, ensure service continuity, and support growth at scale. The Bank recognises that a strong cyber posture is not limited to technology controls alone and requires effective governance, disciplined operating processes, trained employees, and continuous vigilance against evolving threats.

During the financial year, the Bank continued to strengthen its cyber security capabilities through a structured and risk-based approach. This included implementation of new security solutions, enhanced monitoring of critical systems, role-based access controls, vulnerability management, periodic vulnerability assessment and penetration testing, and improved incident response preparedness. The Bank also strengthened oversight of critical assets and outsourced IT activities to manage exposure across the extended technology environment. These measures are aimed at identifying threats proactively and ensuring remedial action in a timely manner.

Cyber security is managed 24x7x365 by a centralized Global Cyber Security Operations Centre (CSOC), in co-ordination with the domestic and international business verticals. The CSOC leverages advanced cyber security capabilities to proactively detect and respond to cyber-threats. The Bank's

Data Centre and Disaster Recovery Centre are certified under ISO/IEC 27001:2022, reflecting a mature information security management system.

In addition to existing controls, the Bank has implemented the following strategic initiatives:

Breach and Attack Simulation (BAS) solution to test and validate the effectiveness of cyber security controls.

External Attack Surface Management (EASM) and Digital Risk Monitoring (DRM) services are availed to monitor and safeguard the Bank's digital footprint against external threats.

Cyber Crisis Management Plan is in place to ensure a structured and coordinated response to cybersecurity incidents and minimizing operational disruption.

Cyber Insurancecoverage is maintained through a reputed insurer to mitigate financial exposure from cyber-related incidents and frauds.

Customer Awareness campaigns are conducted across digital channels (SMS, email, social media, ATMs, and the Bank's website), regional / zonal / branch offices, identified educational institutions / universities, to promote safe banking practices.

Bank won prestigious IBA award ‘Best IT Risk Management Award' (during FY 2026) recognizing bank's cyber security strategies with respect to cyber security driven by coordination between IT, Info. Security, Risk & Business teams to safeguard Bank's digital ecosystem. Additionally, Bank also won Gold Medal and stood as top performer (at all India level) during Critical Information Infrastructure Security Exercise) in Apr-2025 organized by NCIIPC across different sectors including BFSI

In aggregate, these measures and initiatives deepen the Bank's cyber resilience, reduce risk exposure, and anchor a proactive defense posture aligned with business strategy and applicable regulatory standards.

Marketing

During FY 2025–26, the Bank demonstrated a comprehensive and integrated marketing transformation driven by digital innovation, strategic communication, field-driven marketing, and impactful creative development. The combined efforts across Digital, Public Relations, Marketing, Media and

Creative functions significantly enhanced brand equity, deepened customer engagement, and contributed to sustained business growth, reinforcing the Bank's position as a leading and future-ready financial institution.

The key initiatives and highlights in the area of website, Public Relations, Strategic Marketing, Social Media, Creative Development, Media Activities, Brand repositioning etc are as follows:

Website Performance

During FY 2025 26, the Bank undertook significant initiatives to strengthen its digital ecosystem through a centralized, user-centric web platform. Key enhancements included improved search functionality, multilingual capabilities, and advanced filtering features, resulting in enhanced user experience, accessibility, and engagement.

A major milestone during the year was the successful migration of the Bank's corporate website to the Bank.in domain in September 2025, enabling the Bank to effectively reclaim its organic visibility. This transition contributed to robust digital performance, with the website recording over 116.8 million visits and 58.9 million users during the year. The Bank also witnessed an improvement in its domain authority, which increased from 81 to 86, reflecting stronger online credibility and search engine presence.

Under the Location Management Project, the Bank significantly expanded its digital footprint by going live with over 8,500 branch and Google My Business (GMB) pages and 8,488 ATM/CR pages, thereby enhancing discoverability and convenience for customers.

Public Relations

The Bank's Public Relations strategy during FY 2025–26 was focused on strengthening brand equity, enhancing leadership visibility, and safeguarding the Bank's reputation through consistent and strategic communication.

During the year, the Bank issued 108 media releases covering a wide spectrum of announcements, including financial performance, product launches across Retail, MSME and

Digital segments, ESG initiatives, financial inclusion efforts, agricultural programs, and strategic collaborations. These efforts were complemented by sustained media engagement and leadership interactions, ensuring consistent visibility and effective narrative management.

Leadership visibility was further enhanced through active participation in marquee industry platforms, positioning the

Bank's leadership as key voices in the Banking and financial services sector.

The Bank's performance and strategic initiatives were recognised through several prestigious accolades during the year. Notably, the Bank was conferred the ‘Best Bank in India' award at The Banker's Bank of the Year Awards

2025. The Bank also received multiple honours at the IBA Banking Technology Awards, underscoring its leadership in technology-driven innovation. Further, the Bank's Managing Director & CEO, Dr. Debadatta Chand, was recognised as the Best CEO (Large Bank category) at Fortune India – India's Best CEOs 2025.

Overall, the Bank's PR initiatives significantly enhanced credibility, visibility, and institutional positioning.

Strategic Marketing Initiatives (Sponsorship)

During FY 2026, the Bank adopted a strategically aligned and field-driven approach to support Branches, Regions, and

Zones in enhancing brand visibility, strengthening awareness, and driving business growth. The Bank transitioned from a centralized marketing approach to a decentralized, field-focused model, ensuring closer alignment between marketing initiatives and business mobilisation objectives.

The Bank's marketing efforts were strategically focused across key segments including Retail, MSME, Agriculture, Art & Culture, Sports & Fitness, knowledge platforms, and cause-based initiatives.

In the Retail segment, the Bank actively participated in and organised property and real estate expos across domestic and international markets, including Singapore, Delhi, Navi Mumbai, Hyderabad, and key cities in Tamil Nadu. These initiatives generated strong business outcomes, including in-principle sanctions of approximately 211 crore at the Delhi Property Expo and 400 crore at the CREDAI Hyderabad Property Show, while also strengthening developer partnerships and enhancing the retail loan pipeline.

In the MSME and Agriculture segments, the Bank participated in major national platforms such as Agrovision National Agriculture Summit, India International Rice Summit, and Green Building Congress. In addition, multiple MSME outreach programs and HNI engagement initiatives were conducted across Zones, enabling direct engagement with industry stakeholders, strengthening relationships, and enhancing awareness of tailored financial solutions.

To reinforce national brand visibility, the Bank associated with several high-profile cultural, tourism, and knowledge events, including the Hornbill Festival, Mysuru Dasara, Vibrant Gujarat exhibitions, World Book Fair, and prominent religious institutions such as Tirumala Tirupati Devasthanam and Shree Jagannath Temple. These initiatives enhanced brand trust, credibility, and connect across diverse customer segments.

The Bank also strengthened its positioning in sports and community engagement through sponsorships such as the Prime Volleyball League, corporate golf events, and regional sports leagues, along with participation in marathons and fitness initiatives organised by the Indian Air Force, Indian

Navy, and local administrations. These efforts enabled deeper engagement with youth and urban audiences while reinforcing the Bank's commitment to health and wellness. Overall, the Bank's strategic marketing initiatives led to enhanced brand recall, improved lead generation, stronger regional engagement, and measurable business mobilisation outcomes.

Social Media

During FY 2025-26, the Bank continued its focus on effective social media strategy, to promote its products and services while significantly enhancing its digital footprint. Bank of

Baroda is now ranked as the third largest bank in terms of social media follower base, with 9.03 million followers across all social media platforms.

During the Financial Year, Bank published around 3512 posts on its social media platforms, generating unique reach of 124.6 million, impressions of 95.4 million, and video views of 175.6 million.

During FY 2025-26, the Bank executed several campaigns covering financial literacy, fraud awareness and cybersecurity etc. Notable initiatives included,

#BOBKeSangTyohaarKiUmang

#SeasonofSmiles

#WhatIsYourMasterStroke

#FinancialLiteracyWeek,

#PehchaanCon, #FinancialInclusion (Saturation Drive)

#CyberJagrooktaDiwas, and

#YourMoneyYourRight. High-engagement campaigns like

#BOBKeSangTyohaarKiUmang,

#CustomerDay,

#SeasonofSmiles, and

#WhatIsYourMasterStroke boosted digital outreach.

The Bank also leveraged short AVs, Reels, and topical posts to enhance social engagement beyond products' promotion. In addition to this, the Bank collaborated with prominent content creators such as Jatin Sapru and Kamiya Jani to build pre-festive excitement in the market. These partnerships helped generate engaging, high-reach digital content that created buzz and anticipation ahead of key campaigns. The collaborations were also instrumental in amplifying the visibility of the television commercials (TVCs) featuring Sachin Tendulkar, ensuring stronger audience recall and deeper market penetration during the festive period.

A total of 6000- 6800 complaints per quarter were efficiently managed through social Media platforms with approximately

99% of queries receiving first level response within 4 hours, reflecting a strong commitment to customer service and responsiveness.

Creative Development

During FY 2026, the Creative Development function played a strategic role in strengthening the Bank's brand identity through high-impact, insight-driven campaigns and integrated communication assets.

The Bank focused on building a robust creative repository to support product launches, institutional communication, and strategic initiatives, ensuring consistency in brand messaging across platforms. A wide range of high-decibel campaigns was conceptualised and executed across Television Commercials (TVCs), audio-visual formats, and digital platforms, delivering strong emotional resonance and customer engagement.

Key initiatives during the year included the 118th Foundation Day Campaign, Corporate AVs, and multiple product launch campaigns. The Bank also introduced the "BOB Forest" initiative, reinforcing its commitment to sustainability and environmental responsibility.

A major highlight was the launch of a TVC campaign for the Bank's digital platform, bob World, designed with a Gen Z-focused approach, emphasizing digital convenience, personalisation, and intuitive user experience. The Bank also activated its marquee festive intellectual property, "BOB ke

Sang Tyohaar ki Umang", through localized and culturally relevant campaigns deployed across the country.

The Bank further strengthened its presence at key industry platforms such as Global Fintech Festival 2025, Mumbai Climate Week 2025, and Clean Energy Summit 2026, ensuring a cohesive and premium brand representation.

Brand equity was significantly amplified through campaigns featuring the Bank's Global Brand Ambassador, Sachin Tendulkar, which reinforced trust, credibility, and mass appeal.

In addition, the Bank conceptualised several internal and innovation-led initiatives, including "bob Pankh" under the Bank's DEI framework, the "Leadership in Action 1.0" recognition program, and the launch of "Bob Samvaad", an

AI-powered translation tool aimed at enhancing customer communication.

These initiatives collectively enhanced brand recall, strengthened customer engagement, and positioned the Bank as a modern, digitally progressive, and customer-centric institution.

Media Activities Print, Television & Radio

During FY 2026, Bank of Baroda implemented an integrated media strategy across Print, Television and Radio, supported by digital and on-ground initiatives, with the objective of enhancing brand visibility, strengthening customer engagement and supporting business growth across Retail, MSME and Digital Banking segments.

The Bank executed large-scale festive campaigns aligned with major regional and national festivals including Rath Yatra, Ganesh Chaturthi, Navratri & Durga Puja, Onam, Diwali, Christmas, New Year and Harvest Festivals. Post Diwali, a special festive goodwill initiative titled #SeasonsOfSmiles was rolled out to sustain brand warmth and positive recall. Print media was leveraged for its strong credibility and regional connect through multi-language newspaper advertising. Television campaigns across national and regional news channels ensured high-impact festive presence, while radio campaigns delivered strong last-mile reach through festive jingles, RJ mentions, contests and on-ground activations. To capitalize on high-viewership sports properties, the Bank undertook advertising during premier cricket tournaments like Men's IPL 2025 & India vs South Africa bilateral series. L-Band advertising during live match telecasts ensured sustained national visibility and targeted outreach to youth and mass audiences.

Additionally, L-Band feature advertising during the Women's Premier League on the Star Sports Network further strengthened brand presence, promoting key women-centric and digital banking products through premium women's cricket content and prime-time exposure across multiple language feeds.

Multi-Product & Brand Repositioning Campaigns

The Bank implemented focused product promotion and brand repositioning initiatives, including the bob World brand repositioning campaign and SRT multi-product campaigns, to enhance visibility and recall across Home Loans, Car Loans, MSME offerings, Savings Accounts and digital platforms. These campaigns ensured pan-India presence across print, television and radio, delivering consistent messaging and sustained exposure across urban, semi-urban and regional markets.

Corporate Ethics - "Creating Value with Trust"

Bank of Baroda, one of India's largest and most trusted public sector banks, has always been committed to maintaining the highest standards of integrity, transparency, and accountability in its operations. In line with its vision to be customer-centric and globally competitive, Bank of Baroda has pioneered, among the PSU Banks, the launch of its Code of Ethics and has a dedicated Corporate Ethics Department, which leads the Bank's ethical agenda. By adopting the

"Code of Ethics", the Bank reinforced its commitment to ethical banking practices, ensuring long-term success and sustainability in a dynamic financial world. The Bank has constituted the Apex Level Ethics Committee from a cross-section of the entire workforce, with diverse representations like gender, caste, cadre, geography, function, Persons With Disabilities, sports, and ex-servicemen to uphold the ethical values in the organization.

Our Code of Ethics sets forth our core values, shared responsibilities, global commitments, and promises towards our Five Pillars, i.e.,

We Barodians

Our Customers

Our Other External Stakeholders

Our Business

Our Communities

On 01st April 2025, the Bank has launched its updated Code of Ethics Version 2.0/2025. Our Code of Ethics document is placed on the Bank's website.

The Code of Ethics has been structured on a stakeholder centric approach with the employees at the centre as the ultimate owners of processes and drivers of culture. There is a strong alignment of the Code of Ethics with our Core Values, it sets out a guiding framework for how we behave with our colleagues, our stakeholders, and our expectations from those who work with us. The Code addresses contemporary challenges and ethical dilemmas that the Bank and its employees face and outlines the responsibilities they carry when addressing emerging critical issues in the Banking operations and important areas like cybersecurity and protecting the environment.

The Banking industry has faced numerous challenges over time, yet ethics and trust continue to be its foundation every single day. The Code empowers us to do what is ‘Right' and plays a vital role in strengthening our Bank's brand and reputation. Our leadership has consistently championed the promotion of the Code through various employee engagement initiatives.

Apart from conducting round-the-year education and awareness programmes, one of the most impactful strategies for advancing our ethics agenda is developing strong communication channels. As part of this commitment, the ‘Speak Up!' initiative, aligned with the Code of Ethics, was introduced to spotlight the various channels within the Bank that empower employees to report unethical practices and raise concerns.

To foster a culture of transparency and engagement, the Bank also publishes ‘Baroda Sanskriti', a quarterly in-house newsletter. Ethical awareness is further promoted through regular dissemination of ‘Snippets' from the Code of Ethics, quizzes, bilingual audiobook of our Code of Ethics, and a suite of digital communication tools such as the ‘Naitik Series'—video stories illustrating ethical dilemmas—and ‘Ethics Talk', that underscores the Bank's corporate vision and the strategic role of ethics.

A focused training program on Corporate Ethics was rolled out for branches identified as high risk during the year.

The Bank has appointed ethics counsellors at Corporate & Zone level, including dedicated lady counsellors for women employees, to support staff in addressing and resolving any ethical dilemmas encountered in their day-to-day working. To celebrate our values in action, the Bank introduced ‘Naitikta Ki Shakti', a video series, features inspiring short videos that exemplify our core values: Integrity, Customer Centricity, Courage, Passionate Ownership, Innovation, Excellence, and Respect. To ensure the principles of the Code of Ethics reach every level of the organization, the Bank conducts webinars, seminars, specialized training sessions, Observance of special occasions like ‘Global Ethics Day' and mandatory e-learning modules for all staff members. These efforts strengthen our culture of ethics and reinforce our commitment to transparency.

To assess the effectiveness of these initiatives, the Bank conducts an anonymous Annual Ethics Survey for all employees in which Score has consistently increased. This allows us to assess ethical behavior, monitor cultural progress, and continuously improve our ethical framework, as the saying goes, "What gets measured, gets improved."

Bank of Baroda is not just a Financial Institution; it is an institution driven by values that define success, its transparency fosters trust, and integrity fuels a sustainable future.

Customer Service

Our Bank constantly endeavours to set industry benchmarks and pioneer innovations across products, processes and service delivery that are imperative in providing seamless experiences to customers. Customer can interact in 20 languages through IVR/Agent, 11 languages in Bot & in other modes like Video call, Web chat & Email which enhances customer experience and ease of use. The Bank ensured time to time addition of AI & Generative AI based features to improve customer's satisfaction with efficiency.

The highlight of Contact Centre:

1. The Contact Centre handled 1.60 lakh average inbound customer calls per day during the year and over 1.29 lakh calls daily responded to through IVR.

2. Average more than 1.19 lakh outbound calls per day for sales and surveys.

3. Bank is handling around 80.10% call on IVR.

4. Contact Centre provided emergency services to 6 overseas territories i.e. Botswana, Mauritius, Uganda, Oman, Fiji & Seychelles.

5. Contact centre has initiated many new functionalities like- Video call functionality through Phygital branches

& Mobile Banking, Any day transaction, dispatch information, NRI language selection at IVR, Sign Language facility through Video Call.

6. Many special helpdesk at Contact Centre set-up for exclusively helping the NRI/HNI, BC Complaint Desk, VRM Shine Desk, Staff Help Desk, NRI global e-mail desk, bob World internet and bob World mobile banking related issue, Complaints, PMJDY, Senior Citizens Desk,Female Help Desk , Salary Account Desk, Dedicated Desk for Customer with Persons with disability,

7. Contact Centre is equipped with many AI-based technologies like Speech Analytics, social media Tools, Automated Email Tool, Genie training Tool, AURA call quality Tool, Work force management, smart dashboard and many more technologies.

During FY 2026, the Bank saw significant the usage of remote channels for managing grievances. Approximately 96.1% of the grievances were resolved within the pre-defined turnaround time. The on improving the quantitative performance indicators of grievance redressal but also on improving the quality of resolution to improve customer satisfaction. Service levels across the network of branches are monitored through mystery shopping / service audits and workshops. General Manager, Operations and Services, is designated as Principal

Nodal Officer for customer complaints in the Bank. Moreover, all Deputy General Managers/General Managers (Compliance & Assurance) and Regional Heads are designated as nodal officers for their respective zones and regions. The Bank has appointed two Internal Ombudsmen (IO) which is a forum made available for the grievance redressal of customers before they approach the RBI Ombudsman. All complaints, which are rejected or partially accepted by the Bank, are systematically escalated to the Internal Ombudsmen (IO) for review. This enhances customer confidence in the Bank's systems and expedites the process of grievance redressal, thus making it even more transparent.

The Bank's code of commitment to customers and MSMEs, citizen charter, grievance redressal policy, and RBI Integrated Ombudsman scheme are available on the Bank's website to promote fair banking practices by maintaining transparency in various products, services and policies. At the Board level, the subcommittee of the Board for Customer Services addresses the issues relating to the formulation of policies and assessment of compliance with the aim of consistent improvement in the quality of customer service.

Bank has taken a major step in customer engagement by introducing AI-powered services and expanding feedback channels. The launch of ChatBot "ADI" and Virtual Relationship Manager "ADITI" marks the first-of-its-kind deployment the Banking sector of AI-enabled customer enhancement services. ADI, a text and voice-based interface, harnesses Generative AI to deliver near-real-world conversational experiences, significantly improving customer satisfaction.

ADITI, presented as a 3D digital human, leverages advanced Natural Language Processing (NLP) to provide lifelike and engaging interactions, further strengthening customer relationships.

The Bank has enhanced its Branch QR code feed back system which enables both custoemers and non-customenrs to share real time feed back. The system initially designed to capture inputs on branch ambience, ease of transactions, staff behaviour, and ATM ambience, this channel has now been enhanced to provide access to a wider range of services, some of which are mentioned below:

15 Non-Financial Services: Customers can conveniently give feedback for the multiple branch services availed directly through the QR Code.

Contact Centre Access: The QR Code connects users seamlessly to the Bank's Contact Centre for support.

Complaint Lodging via CRM: Customers can register complaints instantly, ensuring faster resolution.

Customer Voice Escalation: All negative comments are tracked and addressed by the Regional Team through CRM, ensuring that every concern is heard and acted upon.

Handling Customer Complaints

Customers can very easily lodge their complaints directly with the Bank by visiting our website and clicking the appropriate link. Alternatively, the customers may also call the toll-free number and get their complaints lodged in the CRM portal of the Bank. Customers also have the option of sending their complaints to Branches and other offices via any mode.

All the complaints will be entered into the CRM portal. The complaints are automatically addressed to the concerned resolver group based on the category of complaint selected at the time of lodging the complaint.

Bank also has an Internal Ombudsman (IO) mechanism in place, as per regulatory guidelines, to instil confidence in the customers regarding the resolution of their complaints.

Bank has also implemented an Online Dispute Redressal (ODR) mechanism for the speedy resolution of online transaction related complaints. Also, the blocking of Baroda Connect facility has been extended via Interactive Voice Response System (IVR) in the contact centre.

To monitor the quality of resolution being given to the customers, Bank subjects 100% of Non – ADC and ADC complaints to quality check through an AI tool developed by Bank, in collaboration with IIT Mumbai which assess the quality of redressal, thus reducing the time and manpower required. The outcome of the quality check is shared with the concerned resolver group for analysis and improvement in resolution.

Branch Network

The Bank has increased its total domestic branch strength to 8,648 in FY 2026 from 8,424 branches in FY 2025 by adding 229 branches (merged 05 branches with existing branches) at prominent locations of the country across all branch categories. The details of Bank's domestic and overseas network as of 31st March 2026 is given below.

Currency Chests

The number of currency chests stood at 135 as on 31st March 2026. These chests support effective cash management in the Bank as well as vaulting cash on behalf of RBI. All the currency chests as well as branches dealing in cash transactions are provided with Note Sorting Machine (NSMs) as per RBI guidelines.

.

Risk Governance and Internal Controls

A robust internal audit function is the cornerstone of a bank's internal control system, providing senior management with high-quality counsel on risk management, regulatory compliance and internal controls.

As per the Reserve Bank of India directives, the Bank has employed a Risk-Based Internal Audit (RBIA) framework.

This system ensures focus on Risk, supporting Governance framework in line with the Bank's strategic goals and risk measurement, appetite. Key elements are identification, monitoring, and controlling risk.

The Internal Audit function provides vital assurance to the Bank's Board of Directors and Senior Management, on the quality of Internal Audit function. In doing so the function helps to prevent/reduce the risk of loss and reputational damage of the Bank.

The "3 Lines of Defence" Framework

Internal Audit is integral to safe banking operations, serving as the third and final line of defence in three lines of defence framework:

1st Line of Defence being "Operations/Business Units":

Who have the responsibility to prevent risks directly at the source.

2nd Line of Defence being "Compliance & Risk

Management" function of the Bank

3rd Line of Defence being "Internal Audit": Plays the vital role in safeguarding the Bank against risks. Provides independent, objective view on the risk profile of the auditee units and Bank itself.

Risk Management and Compliance

Risk Management and Compliance are integral part of the Banking business and the Bank aims to achieve an appropriate trade-off between risk and returns. To ensure sustainable and consistent growth, the Bank has developed a sound risk management framework so that the risks assumed by the Bank are properly assessed and monitored.

The Bank undertakes business activities within the defined risk appetite limits and policies approved by the Board of

Directors of the Bank. Specific committees of the Board have been constituted to facilitate focussed oversight on various risks. The Board has also constituted a Risk Management Committee of the Board which oversees the different type of risks. It is supported by specialist Risk advisor on Board. Policies approved from time to time by the Board of Directors or committees of the Board form the governing framework for each type of risk.

Basel III Framework

The Bank's risk management framework rests firmly on the three Basel pillars, i.e. Pillar I- Minimum Capital Requirement, Pillar II- Supervisory Review and Pillar III-Market Discipline. The Bank is strengthened by a healthy level of capital. The Bank maintains adequate levels of Common Equity Tier I, Additional Tier I and Tier II Capital including required Capital Conservation Buffer. Futuristic capital projection ensures that the Bank is always ready to raise additional capital from the market as per business necessity. The position of risk weighted assets is constantly under strong vigil by the credit risk and capital adequacy team. Adequate capital and rationalised risk weighted assets ensures strong Capital to Risk Weighted Assets Ratio (CRAR) for the Bank.

The Bank has a comprehensive Internal Capital Adequacy Assessment Process and Stress Testing Policy in place. Capital Adequacy is assessed considering Pillar 2 risks such as Liquidity Risk, Interest Rate Risk, Concentration Risk, etc. and stressed conditions (under both normal and adverse scenarios) as per the extant guidelines. A brief outline of the mechanism for identifying, evaluating and managing the major risks within the Bank is given below:

Enterprise Risk Management

The diversity of the Bank's business lines requires a comprehensive Enterprise Risk Management approach to promote a strong risk management culture to help in the early identification, assessment, measurement, aggregation and management of all risks and to facilitate capital allocation among various business lines.

The Bank has instilled a robust risk culture across its organization, ensuring that all three lines of defence are equipped to effectively manage risk. Roles and responsibilities pertaining to risk culture amongst various stakeholders in upholding risk culture are clearly defined.

Through continuous training efforts, employees at all levels are equipped with the knowledge and skills necessary to navigate and adhere to the Bank's risk appetite limits. This proactive approach not only enhances risk awareness but also strengthens the overall risk culture, promoting a vigilant and informed workforce.

As part of its ongoing commitment to elevate its Enterprise Risk Management practices, Bank has established a dedicated framework to identify emerging risks and gauge their material significance. This framework is specifically designed to comprehensively identify all risks the Bank is exposed to. Additionally, it provides guidance for conducting materiality assessments to pinpoint key risks that could potentially impact the Bank's objectives and strategies adversely.

The risk appetite of the Bank is dynamic and will evolve with business profile, strategy, economic environment, and shareholders' expectations. The risk appetite framework aligns the risk appetite to business and financial planning and requires revising and/or developing Risk Appetite limits with the evolving risk profile of the Bank.

Credit Risk

Credit risk is managed through a Board approved framework that sets out policies, procedures and reporting which is in line with best practices. Bank has a strong credit appraisal and risk management framework for identification, measurement, monitoring and control of the risks in credit exposures. Bank uses various Internal Credit Risk Assessment Models and scorecards to assess borrower-wise credit risk. Various Credit Risk models for internal credit ratings of the borrowers were developed internally/externally. They are reviewed and back tested periodically through comprehensive internal/ external validation. The internal ratings are validated by independent rating validating authority.

The Bank has put in place prudential caps across industries, sectors and borrowers with an objective to build a resilient portfolio and de-risk from portfolio concentration. The Bank has developed in-house models for risk assessment of various Countries, State Governments, Group Borrowers etc. and setting exposure caps. As a part of enhanced exposure monitoring, quarterly reviews are carried out for the Bank's key exposures, segments, industries and sectors. A dedicated team tracks internal & external developments to assess impact on the portfolio performance and recommend pro-active remedial actions. The Bank also conducts comprehensive Thematic review comprising sector outlook

& other event-specific impact studies.

Adequate attention is given to the independence of the risk evaluators and business functions for establishing a sound credit culture and a well-structured credit approval process.

Market Risk

Market Risk implies the risk of loss of earnings or economic value due to adverse changes in market rates or prices of trading portfolio. The change in economic value of different market products is largely a function of change in factors such as interest rates, exchange rates, economic growth and business confidence. The Bank control and monitor its treasury functions which undertakes various market risk positions.

Mid-Office as a part of Risk Management, measures and monitors interest rate risk in its trading book through risk limits like modified duration, PV01 and Value at Risk (VaR) on a daily basis. The foreign exchange risk is measured and monitored in terms of Net Overnight Open Position limits (NOOPL), VaR limits, Individual Gap Limits (IGL), Aggregate Gap Limits (AGL) and total Aggregate Gap Limit (TAGL) on a daily basis. At a transaction level, stop loss limits and dealer wise limits have been prescribed and implemented as per the extant guidelines of the Bank. Under its stress testing framework, the Bank conducts comprehensive stress tests of its trading book portfolio on a quarterly basis. Risk-return analysis of treasury trading portfolio is also conducted on a quarterly basis. The market risk capital charge for the Bank is computed by mid office as per the Standardized Duration

Approach (SDA) in line with the regulatory guidelines.

Asset Liability Management

The ALM is the process through which the Bank manages its exposure to liquidity and interest rate risks, by adjusting the composition and maturity pattern of its assets, liabilities and off-balance sheet items, with the goal of achieving its target NII/NIM in line with the business plan.

Liquidity Risk is the inability to meet expected and unexpected cash and collateral obligations at reasonable cost. In the Bank, the liquidity risk is measured and monitored through Flow Approach and Stock Approach and other prudential stipulations as per the latest guidelines of the RBI. The Bank has implemented the Basel III Framework on Liquidity Standards - Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards. The Liquidity Coverage Ratio (LCR) standard aims to ensure that a bank maintains an adequate level of unencumbered, high quality liquid assets (HQLA) that can be converted into cash easily and immediately to meet its liquidity needs for a 30-calendar day liquidity stress scenario. The Bank has always been well above the stipulated level of LCR on a solo basis as well as on a consolidated basis. The Net Stable Funding Ratio (NSFR) is a regulatory liquidity standard under Basel III that requires banks to maintain a stable funding profile relative to the composition of their assets and off-balance sheet exposures. This ratio should be equal to at least 100% on an ongoing basis The Bank's NSFR has been well above the stipulated level of 100% on solo basis as well as a consolidated basis. Interest rate risk is the current and prospective risk to the Bank's Net Interest Income (NII) and the Economic Value of Equity (EVE) arising from adverse movement internal and external factors. Internal factors include the composition of the Bank's assets and liabilities, as well as the quality, maturity and re-pricing period of deposits and advances.

External factors primarily reflect general economic conditions. Changes in interest rates have a significant impact on banks.

The immediate impact is seen in the Bank's earnings through changes in NII. The long-term effect is on the EVE or Net Worth, as the economic value of bank's assets, liabilities and haswelldefinedpoliciesto off-balance sheet is impacted by fluctuation rates.

Interest Rate Risk in the Banking Book (IRRBB) arises due to mismatch between rate sensitive assets and rate sensitive liabilities which may adversely impact the earnings/economic value of equity of the Bank with the change in interest rates in the market. For measurement and monitoring of interest rate risk in banking book, the Bank uses risk management tools such as Traditional Gap Analysis, Earning at Risk and Duration Gap Approach. The short-term impact of interest rate movements on Net Interest Income (NII) is worked out through the ‘Earnings at Risk' approach by taking into consideration parallel shift in yield curve, yield curve risk, basis risk and embedded options risk. The long-term impact of interest rate movements is measured and monitored through change in Market Value of Equity."

Operational Risk

The Bank has a well-defined Operational Risk Management

Framework(ORMF)andOperationalRiskManagementSystem (ORMS) for effective management of Operational Risk in the organization. ORMF comprises the organizational structure for management of Operational Risk, Governance Structures, Policies, Procedures and Processes whereas ORMS consists of the systems used by the Bank in identifying, measuring, monitoring, controlling and mitigating Operational Risk. The Bank has a web based Operational Risk Management System for data capturing and for systemic and integrated management of Operational Risk. In our endeavour to use the best of technology, Bank is using a web based Operational Risk Management System for Operational Risk Compliance & Governance. Monitoring of Key Risk Indicators Programme (KRI), Risk & Control Self-Assessment Programme (RCSA) and Root Cause Analysis of various loss incidents strengthen the control environment. The Bank has created a repository of Internal Loss Data as part of Operational Risk Management.

Ongoing review of products and processes in the light of the changing business environment further strengthens the risk culture. Efforts are made for inculcation of risk culture, values, beliefs, knowledge, attitudes and understanding about risk among the staff. In order to ensure this, Campaigns are carried out to create awareness in the staff by the means of emails, workshops, on-the-job trainings, webinars, meetings, fliers, magazines, E-Learning modules etc . Also,

Risk Council comprising of frontline staff has been formed to further strengthen the Risk Aware Culture through bottom-up approach. Furthermore, through strategic utilization of social media platforms, initiatives have been deployed to increase customer awareness regarding prevalent fraud incidents, accompanied by actionable guidance to mitigate susceptibility to such fraudulent activities.

Business Continuity Plan

The Bank is committed to providing uninterrupted services to its customers. A robust Business Continuity Management Framework has been established based on the Plan-Do-Check-Act cycle to ensure consistency within the Business Continuity Management System. The framework is in line with the guidelines issued by RBI and global best practices. The Bank continuously strengthens its business continuity preparedness, assuring customers of reliable and secure services even during adverse situations. Business Impact Analysis and dependency mapping across critical processes support effective risk understanding, optimal resource allocation, and enhanced operational resilience. The Bank operates ISO 27001:2022 certified Data Centre and Disaster

Recovery facilities capable of managing core banking and other critical operations during disruptions. Additionally, the

Bank has achieved ISO 22301:2019 certification covering

Risk Management, Digital Group, and Treasury functions.

Sustainability, ESG and Climate Risk

Bank of Baroda recognizes ESG and Sustainability as fundamental drivers of inclusive, long-term growth, embedding these principles into its core strategy to build a resilient, future-ready banking institution. By aligning environmental responsibility, social commitment, and strong governance with its business model, the Bank seeks to enhance stakeholder value, accelerate the low-carbon transition, and underpin sustainable economic progress.

During FY 2026, the Bank significantly deepened its sustainability footprint through a structured and outcome oriented agenda, marking an important milestone in its journey of "Progressing with Purpose: Our Sustainability

Journey". The implementation of the Bankwide ESG Policy, supported by a clear roadmap, reinforces its longterm commitment to achieving Net Zero emissions by 2057 and a phased reduction in Scope 1 and Scope 2 emissions, while fostering an ESGcentric culture and embedding performance monitoring across business verticals. This is underpinned by a strong governance framework that systematically integrates sustainability into decisionmaking, risk oversight, and operational practices across the organization.

The Bank's Board-approved Climate Risk Management Policy integrates climate-related risks and opportunities into the Bank's core strategy, anchoring climate-resilient practices across business, operations, value chain, and stakeholder engagements. Complementing this, the Board-approved Sustainable Financing Framework provides a comprehensive structure for the issuance of Green, Social, and Sustainability (GSS) bonds in line with regulatory guidelines and international best practices. On the sustainability front, the Bank has expanded its sustainable financing portfolio, particularly in renewable energy, energy efficiency, and clean transportation, while offering the Bob Earth Green Term Deposit Scheme that enables depositors to contribute directly to environmental-friendly projects, combining secure returns with tangible climate impacts. As of March 31, 2026, the Bank's Green Deposits portfolio stands at 1899.12 crore. The entire proceeds of the green deposit portfolio have been deployed into renewable energy and clean mobility sector.

The Bank has also become the first Indian bank to issue

Domestic Green Infrastructure Bonds, by mobilizing 10,000 crore through a 7-year Series I Green Infrastructure Bond, the proceeds of which being utilized for financing/refinancing eligible green projects.

Internally, the Bank has intensified efforts to reduce its operational carbon footprint through energy-efficiency retrofits, rooftop solar installations, LED lighting across domestic branches, extensive tree-plantation drives, use of recycled paper, and accelerated digitization to minimize paper consumption. As of March 31, 2026, rooftop solar has been installed across 528 sites (including 49 RSETIs) of the Bank, cumulatively sequestering 10,000+ tonnes of CO since inception, while six own-use buildings have received

IGBC certification, underscoring the Bank's commitment to green infrastructure.

Bank has created "bob Forest", a 6,000-square-foot urban oasis at the Bank's Corporate Office in BKC, Mumbai, housing over 100 indigenous trees and shrubs from the Sahyadri range, together with rainwater harvesting, compost-enriched soil, and solar-powered gazebo. This has exemplified the Bank's integration of nature-based solutions into its workplace environment.

In the social domain, the Bank continues to champion inclusive growth by extending banking services to underserved and rural communities, supporting MSMEs and women entrepreneurs through targeted financial-inclusion initiatives.

Simultaneously, it has strengthened customer experience via digital transformation while maintaining high standards of data privacy and cybersecurity. Employee well-being, diversity and inclusion, and ongoing capacity building remain central to the human-resources strategy, with dedicated programmes to enhance awareness and understanding of ESG and climate-related risks amongst the Bank staff and its value chain partners.

From a governance perspective, the Board level and Executive level CSR & Sustainability Committees provide strong oversight of sustainability initiatives. They are supported by the ESG Department and a dedicated Climate Risk & Sustainability Cell within the Risk Management Vertical. These bodies ensure that sustainability is embedded in credit appraisal, portfolio monitoring, and ESG risk oversight. Zonal

ESG Committees at the field level further strengthen the implementation and monitoring of sustainability practices across the Bank's network. The Bank upholds a culture of accountability, transparency, fairness, and consistency through a stakeholder-centric Code of Ethics, reinforced by ethics counsellors, including dedicated counsellors for women employees, to guide staff in navigating ethical dilemmas.

The Bank continues to meet and enhance its regulatory and voluntary ESG disclosure obligations through its BRSR and Sustainability Report. The Bank's ESG rating has been upgraded from "Strong" to "Excellent" by ESGRisk. ai (Acuite Group), reflecting consistent progress across ESG parameters. Under the umbrella of "bob earth", the Bank reaffirms its resolve to drive positive environmental change and safeguard natural capital for future generations.

Through the "bob earth Webspace" platform (https://www. bankofbaroda.in/bob-earth), the Bank provides a dynamic, transparent, and interactive showcase of its sustainability ambitions, ongoing ESG initiatives, green product offerings, policies & disclosures and real-time impact data, reinforcing its commitment to responsible corporate citizenship and a greener, more resilient future.

Compliance

Compliance function in the Bank is one of the key elements in its corporate governance structure. The compliance function in the Bank is adequately enabled and an independent function. The Board of Directors of the Bank oversees the management of the Bank's compliance risk. The Bank has put in place a robust compliance system including a well-documented and Board approved Compliance Policy outlining the Compliance philosophy of the Bank. The tone at the top sets an organization's guiding values and ethical climate. A "High Level Compliance Committee" under the chair of Executive Director and other members comprising of Senior Executives from Assurance verticals and support functions, maintains oversight on all compliance related issues.

In accordance with Reserve Bank of India guidelines, an independent Compliance Function headed by Chief General

Manager designated as Group Chief Compliance Officer

(GCCO) has been set up in the Bank.

The compliance function ensures strict observance of all statutory provisions contained in various legislations such as Banking Regulation Act, Reserve Bank of India Act, Foreign Exchange Management Act, Securities and Exchange Board of India Act and Prevention of Money Laundering Act etc. as well as ensures observance of other regulatory guidelines issued from time to time. Bank also ensures adherence to regulations of various Regulatory Authorities where the Bank is having its Offices/ Branches at overseas centres. It also ensures adherence of various guidelines/ instructions issued by IBA (Indian Banks Association), FEDAI (Foreign Exchange Dealers Association of India), FIMMDA (Fixed Income Money Market and Derivatives Association of India), National, State and Local Body laws and requirements.

To further strengthen the compliance in Bank, dedicated

Compliance Officer is posted in each Region, Zone and Overseas Territory. Also, a Nodal Officer is identified in each Department of Corporate Office & Head Office for Compliance function. The activities of these Compliance Officials are being monitored from Corporate Office. Similar Compliance

Framework is prevalent in Bank's Domestic and Overseas

Subsidiary having dedicated Compliance Officer and Team.

Bank has endeavoured to develop a compliance culture ensuring adherence to laws, rules and regulations and for preventing our banking channels from being misused for money laundering and terror financing activities. Bank is making sustained efforts in improving the compliance culture in your Bank by increasing awareness amongst the employees about Compliance. Weekly Newsletter titled "Anuvritti" is published on weekly interval to spread awareness of Compliance Culture in Bank.

KYC/ AML Compliance

The Bank has a well-defined KYC-AML-CFT policy. On the basis of this policy, KYC norms, AML standards and CFT Measures and obligations of the Bank under Prevention of Money Laundering Act (PMLA) 2002, are implemented.

The Bank electronically files Cash Transaction Reports (CTRs), Counterfeit Currency Reports (CCRs), Non-profit organizations Transaction Reports (NTRs) and cross border wire transfer (EFT) reports to Financial Intelligence Unit India (FIU-IND), New Delhi on its portal every month within prescribed timelines.

The Bank has an established Central Transaction Monitoring Unit (CTMU) and put in place AML Solution for monitoring of transactions and detection of suspicious activities in customers' accounts on the basis of predefined alert parameters in the system. System based risk categorization (money laundering risk categorization) of customers' is done on dynamic basis. For Periodic Updation of KYC (ReKYC),

Bank has developed an automated process for identification of customers due for ReKYC and sending SMS/email/ physical notices to notify them to complete their ReKYC. Bank also provides Digital / Non-Face-To-Face channels to the Individual customers to complete their Re-KYC without visiting their Bank branch.

Bank has implemented Central KYC (CKYC) process for registration of newly on-boarded customers' KYC information on Central KYC Registry. CKYC number was allotted to 906.11 lakh customers as of March 31, 2026.

Bank has also implemented Video based Customer

Identification Process (V-CIP) as an alternate method of establishing the customer's identity for on boarding new Resident Indian Individual customers and facilitating their Periodic Updation of KYC (ReKYC).

Internal Audit

The Bank's Central Internal Audit Division is headed by Chief General Manager administers various types of Audits i.e. Internal Audit, IS Audit, Credit Audit, Concurrent Audit, Management Audit, HR Audit, Revenue Audit etc. Internal Audit function in the Bank is an independent activity and has sufficient standing and authority within the Bank. The Internal

Audit Department works under the guidance and supervision of the Audit Committee of the Board. Bank's Internal Audit Function works in close co-ordination with other assurance functions i.e. Risk Management Department & Compliance Department.

Central internal Audit Division operates through -25- Zonal Internal Audit Divisions and Vertical Internal Audit Division to carry out internal audit as per the periodicity defined in RBIA Policy. All branches, centralized units, administrative offices, processing cells & verticals are covered under Risk Based Internal Audit. The summarized risk perception of all -8648- branches & Specialized Integrated Treasury Branch as on 31st March 2026 are as under:

Low Risk Branch : 6,325 Branches (75.04%)

Medium Risk Branch : 1,887 Branches (22.39%)

High Risk Branch : 217 Branches (2.57%)

218 Branches with no Rating (New Branches)

Specialized Integrated Treasury Branch is in Low Risk.

Total 1,723 Branches and other units (as on 31.03.2026) are covered under Concurrent Audit covering Bank's 56.1% deposit, 66.7% advances & overall 61.1% business coverage (as on 31.12.2025). All High-Risk Branches, Nodal Government Business Branches, Category B Branches, Currency Chests, Centralized Processing Cells and Centralized Units are covered under Concurrent Audit. Credit Audit is carried out of all Fresh Sanctions/ Existing Accounts including Retail Loans and Restructured Accounts with aggregate exposure of `10 crores and above (FB + NFB) and 5% of borrower accounts are randomly selected from fresh Accounts and Reviewed with increase having aggregate exposure of `1 crore above but below `10 crores (FB + NFB). All Bank's branches are subject to Information System (IS) Audit to assess the IT-related risks as part of the RBIA of the Branches. IS Audit of Data Centre & IT Applications are also carried out periodically by IS Audit Team of CISA /DISA qualified IS Auditors and external CERT-in Firms.

Few Key initiatives include the following:

Introduction of Risk Based Internal Audit of verticals and its successful roll out with completion of audits of all the verticals during the FY 2026.

Enhanced the scope of concurrent audit by covering Retail Asset Processing Cells (RAPCs) & SMELFs.

Enhanced the coverage of HR Audit by covering all the branches irrespective of area classification.

Identification of Key Focused Area (KFA) for internal audit along with annual audit plan to have more emphasis on fraud prone and potential higher risk area of operations.

Enhancing the coverage of Revenue Audit by including branches covered under concurrent audit on sample basis.

Enhanced the coverage of Compliance audit by including 50% CBO & currency chest and 25% FEMA Audits.

Revision of Zero Tolerance Area (ZTA) parameters and enhancing the coverage by introducing -9- fresh parameters considering the potential risk involved with them.

Enhancing the coverage of Credit Audit by including accounts with short review. Now, identification of sampled accounts for credit audit (`1 crore & above but below `10 crore) is system driven instead of existing manual sampling process with the use of BOBeTHIC portal consisting of pre-defined identification.

Rationalization of minimum threshold limit for credit audit in overseas territories by implementing territory specific threshold limit.

To ensure the independence of the Internal Audit Function, structure of Zonal Audit Committee (ZAC) was revised to extinguish the potential conflict of interest.

Rationalization of CEMU alerts by linking introduction of ‘Weekly' frequency and linking of alerts with their potential risk. This will create awareness among field functionaries for timely resolution of CEMU alerts.

On-boarding BOBeTHIC portal for more robust and best available solution for supply, installation, customization, commissioning and maintenance of web-based software covering the entire audit cycle with data analytics tools to achieve sustained compliance and enriched MIS. At present, Credit Audit & Concurrent Audit modules are operational and RBIA module is under pilot run. It has reduced the possibility of manual sampling in credit audit entirely and in RBIA to some extent.

As per RBIA Policy, External Review of Internal Audit Framework is to be carried out by external firm within -4- years. Last such assessment was carried out by M/s E & Y LLP during FY 2022-23 and as per their assessment dated 05.05.2023 Internal Audit Framework in the Bank is robust and one of the best in peer Banks. Current engagement process of consultancy firm for the very purpose is under process.

Credit Monitoring

The Credit Monitoring is an important part of the credit management, which is essential to monitor credit portfolio and improve the asset quality of the Bank and minimize credit risk. Credit monitoring involves to the continuous review and supervision of a borrower's credit behaviour after a loan or credit facility has been granted. Its primary objective is to ensure timely repayment and detect any signs of financial stress or default at an early stage.

Credit Monitoring involves tracking and evaluation of the borrower's financial behaviour and credit worthiness to identify potential risk. It also ensures compliance with terms of sanction and end use of funds. It focuses that the credit assets remain in standard category and take endeavour for upgrading asset quality of identified stressed accounts and take corrective appropriate action to prevent slippage of the accounts. For the purpose of identifying and monitoring the stressed accounts, Bank is using various tools and methods so as to maintain good asset quality with containment of probable slippage in effective way.

Tools for efficient monitoring & control process: -Online availability of SMA & Slippage data to Zones/ Regions/Branches through QLIK sense portal

Global SMA 0, 1, 2 Accounts are available on daily basis for easy and efficient day to day monitoring of accounts.

Technical aspects like review and stock statement of all due accounts are also available on daily basis and progress is being monitored on daily basis.

Access to the portal has been made available to all the Zones/Regions/Branches for their ease and reduction in their dependency for data from Corporate/Controlling offices.

Mock degradation data (projected degradation for the month on account of any financial/non- financial is made available on daily basis for follow up and corrective actions.

Degradation and upgradation files are shared to the concerned Zones/Regions / Branches on daily basis.

Periodic SMS and e-mails to ZMs/RMs/Branches notifying pendency in key area of Credit Monitoring like review/stock pendency for more than 3 months, Letter of Acknowledgement (LAD), DNR (Document not renewed), Post Sanction Reporting (PSR) noting/ submission pending.

SMS/e-mail alerts to borrowers regarding insufficient turnover in working capital accounts and for pending submission of monthly stock & book debts statement.

A system-driven Annual Review Reminder mechanism has been implemented to send automated SMS and email alerts to customers at predefined intervals before and after the review due date, facilitating timely submission of required documents and enabling branches to complete reviews within stipulated timelines.

Early Warning Signal

A fully tech based EWS solution is implemented in Bank since August 2020 which is being improved from time to time to make it more effective.

Automated alert generation helps in effective monitoring by identifying the Early Warning Signals in the accounts.

Risk Categorization of Accounts in HML (High, Medium & Low) are based on the EWS alerts.

The existing EWS system has been thoroughly revamped in the year 2024 after a detailed audit of existing system and a thorough review by the top management. Health code parameters have been introduced, and it is advised to include a field to incorporate HP rating in process note while taking credit decision. Health Parameter (HP) is a combination of internal rating (BOBICON) and EWS rating of a borrower.

EWS portal for international territories has also been implemented for better monitoring of advances.

The solution helps the Bank in early identification of RFA/fraud in accounts (if any). This solution also enables the branches to closely monitor the accounts with appropriate resolution/ action.

Stock Audit Portal

Implementation of Stock Audit Portal deploying end to end journey from assigning the audit, submission of report, compliance of observations and final submission of rectification certificate (RC) in all

For proper monitoring of stock & data pertaining to stock audit, Bank has deployed Stock Audit Portal, which allows online assignment of Stock Audit to empanelled CA's. Access to empanelled CA for filling and submission of Stock Audit report.

Submission of Compliance and CRCs by the Branches and acceptance of same by the Competent authorities

Monitoring of completion of Stock audits and real time basis data collection will be possible with the help of this portal within prescribed guidelines of the Bank.

PSR Portal

The Bank has developed a specialized portal designed for noting and monitoring the Post-Sanction Reporting (PSR) process. This initiative is aimed at safeguarding the interests of the Bank by ensuring proper and timely reporting of the post-sanction activities for loans. PSR noting is crucial during various loan-related actions such as fresh loan sanctions, reviews (with increase or decrease), the allowance of Temporary Overdraft (TOD),

Adhoc loans, excess sanctions, and modifications in terms after the sanctioning process.

Implementation of Discretionary Lending Power (DLP) Risk Screening portal enabling to notify the violation and corrective Measures Framework through Rule Engine Integration on existing PSR portal.

CRILC Reporting

Identification of the accounts in SMA category triggers mitigating steps, such as follow-up for regularization, restructuring etc. In terms of RBI's guidelines, stressed accounts with credit exposure of 5 crore and above are reported to RBI on CRILC platform on a weekly basis.

System based prediction of Asset Classification

Bank has a predictive program to identify the probable slippages showing overdue of more than two months period based on record of recovery as well as for accounts showing technical irregularities such as non-submission of Stock/Book

Debt statement, review pendency, insufficient/ no credit in CC accounts, inadequate margins in LABOD/ODBOD accounts etc. These triggers focus on taking timely corrective action to prevent downgrading of such accounts. Those accounts are monitored specifically by various operational units for minimizing the slippage of standard assets.

Other monitoring tools:

The Bank has also digitized the stock and book debt statement submission, which is real time and user friendly.

Resolution Plan Portal is deployed for identification of borrowers wherein review period is triggered, requirement of additional provision and reversal of additional provision made.

Revamping CREMON Portal by introducing auto generated fact sheets indicating major irregularities along with integration of portals like ethic, stock audit, PSR etc.

Vigilance

The Vigilance administration in the Bank is professionally managed and an integral part of management function. It promotes clean business transactions, professionalism, productivity and ethical practices apart from control, monitor and supervision of various vigilance functions. The Bank has a very strong and transparent Vigilance Administration headed by Chief Vigilance Officer who oversees all vigilance functions of the Bank as per the guidelines from the Central Vigilance Commission. Participative / Proactive & Preventive vigilance are the important functions of Bank's vigilance administration. The Chief Vigilance Officer is supported by three Additional Chief Vigilance Officers, who are stationed at

Mumbai and Delhi.

The vigilance machinery in the Bank also imparts knowledge at all levels about vigilance functions, extends help to various disciplinary authorities and appropriate authorities to act swiftly and correctly in examining issues arising out of frauds, complaints and serious irregularities pointed out in various inspection reports of branches/ offices.

Vigilance setup at Corporate Office headed by Chief Vigilance Officer is supported by Zonal Vigilance department at each zone, which conduct preventive audits of branches at regular intervals and to act proactively on information that controls the damage at bare minimum level.

The vigilance function in the Bank comprises of three aspects:

1. Preventive Vigilance: Preventive measures hold greater significance in containing damage than detection and punishment of corrupt and other malpractices. Preventive measures such as inspections of sensitive areas of business, identification of sensitive posts and scrutiny of personnel posted thereon, ensuring observance of conduct rules, monthly meetings at branch level to discuss branch specific vulnerabilities, training programs for staff, regular scrutiny of inspections and audit reports, conducting gap analysis of systems and procedures and issuance of advisories for Systemic improvements and undertaking circulars on preventive vigilance to be regularly issued and circulated by various business verticals to reduce the number of vigilance cases.

2. Detective Vigilance: Detective Vigilance includes conducting regular and surprise inspection in the sensitive area to detect if there have been any instances of corrupt or improper practices by the staff, undertaking prompt scrutiny of annual property returns and take further action if called for, handling complaints, gathering intelligence from own source about the misconduct/ malpractices, getting in-depth investigations done and examining the same for logical conclusion through appropriate action after due process.

3. Punitive Vigilance: In addition to ensuring that employees at all levels indulging in wilful and malafide transgressions of rules and provisions are not allowed to go unpunished. The Bank also ensures that bonafide decisions taken in normal course of business are evaluated objectively and with required prudence.

The vigilance function in the Bank enables proactive decisions by stressing on strengthening systems and procedures through preventive vigilance administration. It also plays a major role in identifying and plugging loopholes and providing inputs to the top management in framing policies in fraud prevention. The turnaround time of disciplinary cases improved due to proactive communication which helped in motivating the employees with quick redressals. CVO also coordinates with CVC & DFS for necessary guidance & feedback on vigilance related matters and Law Enforcement Agencies like CBI & ABBFF for criminal actions in case of frauds.

Legal Service

The Bank has a vibrant legal department consisting of qualified and experienced legal officers. The main role of the Legal

Department is to support and to provide assistance for various matters relating to Opinion, Documentation, Litigation, etc., referred by or in relation to various functional departments of the Bank. The department also provides support for references submitted by the various Zones, Regional Offices, domestic and foreign branches, and subsidiaries of the Bank on the matters related to legal aspects.

Further, in order to meet the digitalization of banking loan process, a set of documents for retail and SME facilities compatible with digital lending platform has been prepared which will enable Bank's customers to execute the documents through electronic means. Loan Document

Manual has been revisited and simplified the documents to ensure they remain relevant, clear, and aligned with current business needs. The department has also drafted customized documents for different departments, showing its flexibility and responsiveness to specific requirements.

Law Officers of the Bank vet the documents before disbursement of loan amount as per Bank's Global Credit

Policy. In the normal practice either the Law Officer Travels to the concerned branch where the documents have been executed or the Documents are brought at the concerned administrative office where the law officers are posted. In order to pace with the digitalization process, "Portal for

Vetting of Loan Documents" has been developed to ease the process by enabling the Law Officers to vet the documents from their office. The basic object of the portal is to ensure vetting / verification of Loan documents in real time through digital mode to expedite the process of vetting and restrict the unnecessary movement of Bank's officers as well as of the documents.

Additionally, an Advocate Portal has been developed through which application from advocates are invited for empanelment. The Branches assign the work to panel advocate through the portal and monitor their work.

Further, the Bank has been promoting environment of knowledge sharing by issuing ‘Circulars', on key judgments impacting bankers and inhouse quarterly Newsletter ‘Legal News Flash', etc. regarding ever changing set of laws, latest amendments and interpretation of laws by Courts affecting the Banking sector. In coordination with Apex Academy, the department conducted a training program for 255 Law

Officers in phase wise manner to enhance their expertise in specific legal areas and familiarize them with new and updated laws, rules, and regulations.

The Integrated Litigation Management System 2.0 (Faster, Smarter & Better) was implemented to streamline and centralize the management of litigation cases against the Bank not acknowledged as debt for a better synchronisation with Return 4 and smooth & hassle-free monitoring of the cases.

As on 31.03.2026, total pending cases (Litigation Against Bank) before the various Courts/Forum/Tribunals are 4338. We succeeded to get disposal of total 611 cases during financial year FY 2026. Out of the total disposal of cases 432 cases (i.e. 70.70 %) were decided in favour of the Bank, 51 cases (i.e. 8.34 %) were settled, and 129 cases (i.e. 21.11 %) were decided against the Bank.

Human Resources Management

Our employees remain at the heart of our Growth Journey. The Human Resources philosophy of the Bank rests on a simple yet profound principle: when our employees are happy & enjoy their work, when they are engaged, and empowered, they naturally create exceptional value for our customers and stakeholders.

This year, we have continued to strengthen this people first approach through various initiatives across talent acquisition, learning and development, employee engagement, well-being, diversity and inclusion, and retiree welfare.

Talent Acquisition: Building our Future

In an era of rapid digital transformation and evolving customer expectations, attracting and nurturing the right talent continues to remain a strategic priority for the Bank. The Bank has adopted a multi-dimensional talent acquisition approach, including lateral hiring of experienced professionals across critical domains, to diversify talent pools and align workforce capabilities with its evolving business requirements and long-term strategic vision.

The Bank has also strengthened its employer brand positioning by fostering a work environment that offers meaningful career opportunities, continuous learning, professional growth, and innovation-driven development.

During the year, the Bank undertook a comprehensive manpower planning exercise to align workforce requirements with business priorities and future growth objectives. In line with this strategy, focused recruitment initiatives were undertaken, supported by structured onboarding, induction, and training programmes to ensure seamless integration of new employees into the organisation.

During FY 2025–26, the Bank onboarded more than 4,000 employees, including Probationary Officers, Customer Service Associates, and Contractual Officers through lateral hiring across key domains such as Information Technology, Retail, Rural & Agri Banking, MSME, Corporate & Institutional Credit, Trade & Forex, Security, and Information Security. In addition, over 2,000 apprentices were inducted during the year, further strengthening the Bank's talent pipeline and future-ready workforce capabilities.

Learning and Development: Investing in Growth

The Bank recognizes that continuous learning is not only essential for professional excellence but also critical for enhancing employee engagement, adaptability, and long-term organisational growth. Accordingly, the Learning & Development framework has been continuously strengthened to foster a culture of continuous learning aligned with technological advancements, regulatory developments, and evolving business requirements.

During the year, the Bank further enhanced its learning ecosystem through policy interventions, expanded training outreach, and adoption of blended learning methodologies combining classroom training with digital platforms. Microlearning modules and role-based training curricula were also introduced to enable focused, efficient, and accessible learning without disrupting business operations.

More than 95% of the workforce underwent in-class physical training during FY 2025–26. In addition, continuous learning initiatives such as weekly quizzes, audio summaries of circulars, podcasts, and digital libraries were introduced to encourage self-paced and interactive learning. Increased adoption of digital platforms and the Learning Management System facilitated timely, scalable, and cost-effective delivery of training across the organisation.

The Bank also focused on strengthening new-age and technology-drivencapabilitiesthroughIndividualDevelopment Plan (IDP)-based learning and simulation-based training modules replicating real-life business scenarios, thereby enhancing practical and decision-making skills.

To further augment internal capabilities and promote a hybrid learning model, the Bank partnered with premier institutions such as IIM-A, ASCI, IDRBT, and National Forensic Sciences University for specialised and industry-relevant programmes. The Bank also facilitated cross-bank training programmes with participation from over 10 banks, promoting industry collaboration and knowledge sharing.

Manojeet – Beyond Customer Delight was introduced to strengthen service excellence, customer-centricity, communication, empathy, and problem-solving skills among employees.

The Bank also launched specialised programmes such as the Comprehensive Forex Management Program and the Comprehensive Credit Management Program (CCMP) to build a strong pipeline of credit and forex trained officers through structured classroom learning and on-the-job exposure.

Leadership Development and Mentoring: Nurturing Tomorrow's Leaders

The Bank continues to strengthen its leadership pipeline through structured mentoring and leadership development initiatives aimed at building future-ready leaders capable of navigating evolving business challenges with confidenceand strategic vision. Formal mentoring interventions have been institutionalised to facilitate knowledge sharing, capability building, and leadership grooming across levels.

During the year, the Bank successfully implemented the Prerna – Path to Inspiration Mentorship Programme for women employees, enabling structured one-on-one engagements between senior leaders and emerging talent. The programme focused on career development, leadership capability enhancement, and addressing workplace challenges, supported through targeted training interventions and expert-led masterclasses on areas such as personal branding and professional effectiveness.

The Bank partnered with IIM-A for conducting the Strategic Leadership for Transforming Tomorrow programme for senior leadership. The programme focused on advanced strategic thinking and leadership capabilities, equipping leaders to address complex business challenges and drive organisational transformation.

The Bank also collaborated with XLRI, Jamshedpur for leadership onboarding programme for newly promoted Executives. The programme aimed at strengthening strategic leadership, managerial effectiveness, and organisational alignment, enabling leaders to emphasis on effectively the holistic transition well- into higher responsibilities.

Employee Engagement : Creating Joy at Work

Employee engagement at the Bank extends beyond periodic surveys and initiatives, it is embedded in the Bank's culture and day-to-day operations. The Bank firmly believes engaged employees bring greater authenticity, innovation, collaboration, and passion to their work, thereby contributing to stronger organisational performance and customer experience.

During the year, the Bank undertook several initiatives aimed at strengthening employee connect, fostering inclusivity, and enhancing workplace experience. Key initiatives included:

SAMVAD – a structured leadership interaction platform enabling direct engagement between senior management and employees, facilitating open dialogue, better understanding of ground-level concerns, and timely resolution of issues.

Recognition Platforms – digital initiatives such as the Hall of Fame and structured recognition mechanisms to celebrate achievements across professional, sports, and cultural domains, thereby reinforcing a culture of appreciation and motivation.

Inclusive Support Measures – implementation of an Additional Monthly Mobility Support / Commuting Reimbursement Scheme for employees with benchmark disabilities (up to Scale IV), strengthening accessibility and inclusivity beyond existing provisions.

‘Listen. Learn. Lead.' (L3) Speaker Series – a structured platform providing employees with access to motivational and developmental sessions by eminent internal leaders and distinguished external experts on themes such as leadership, resilience, emotional intelligence, and work-life balance.

The Bank also continued to leverage pulse surveys and role-based feedback mechanisms to assess employee sentiment across functions and geographies, ensuring that employee feedback remains an important input in shaping engagement and workplace initiatives.

Aligned with its vision of fostering a people-centric and socially responsible organisational culture, the Bank further encouraged employees to actively contribute towards community development through the Baroda Anubhuti initiative. On the occasion of the Bank's Foundation Day, employees participated in activities such as tree plantation drives, blood donation camps, distribution of educational materials, and support initiatives for schools, orphanages, and old age homes.

Collectively, these initiatives have strengthened employee engagement, enhanced communication and collaboration, fostered a culture of recognition and inclusivity, and contributed towards building a positive, connected, and high-performing organisational environment.

Employee Well-being & Welfare: Caring for Our People

The Bank places significant of its employees, recognising that a healthy, motivated, and resilient workforce is fundamental to sustained organisational performance and productivity. During the year, a wide range of initiatives focusing on physical, mental, and emotional well-being were implemented across the organisation. Key initiatives included introduction of an Emotional Wellness

& Mindfulness Allowance, observance of Wellness Month, regular yoga and meditation sessions, health awareness programmes, and comprehensive health check-ups for employees and their families, promoting preventive healthcare and overall wellness. Daily online wellness sessions and awareness programmes further encouraged employees to integrate healthy practices into their routine lifestyles.

In line with its focus on promoting physical fitness and healthy living, the Bank also introduced Reimbursement of Marathon Expenditure, encouraging employees to participate in marathons and other fitness events, thereby reinforcing a culture of wellness and active living.

The Employee Assistance Programme (EAP) continued to provide counselling support and stress management interventions through multiple channels, including in-person, virtual, and telephonic modes. Workshops on mindfulness, emotional well-being, and stress management were also conducted across locations, benefiting a large number of employees and strengthening awareness around mental health and resilience.

Further, structured initiatives such as CPR training programmes, wellness pledges, and other fitnessand wellness interventions were undertaken to encourage proactive health management, enhance emergency preparedness, and foster a safe and health-conscious workplace culture.

Collectively, these initiatives reflect the Bank's continued commitment towards creating a supportive, healthy, and employee-centric work environment that enables employees to perform at their best while maintaining overall well-being.

Diversity, Equity & Inclusion: Strength in Diversity

The Bank views diversity, equity, and inclusion (DEI) as key enablers of organisational strength, innovation, and sustainable growth. The Bank remains committed to fostering an equitable and inclusive workplace where employees across genders, backgrounds, abilities, and experiences are provided equal opportunities to grow, contribute, and succeed.

The Bank has implemented various structured initiatives aimed at strengthening diversity and enhancing representation across levels, with particular focus on leadership development and career progression for women employees.

Key initiatives include the formation of ‘bob Pankh', a dedicated forum for women employees across Zones, providing a platform for mentorship, networking, peer support, and addressing workplace challenges. The Bank has also introduced supportive measures such as sabbatical leave, cr?che facilities, and reintegration support to facilitate greater work-life balance and career continuity for women employees. Regular training and awareness programmes on diversity, inclusion, and POSH guidelines are conducted to promote a safe, respectful, and inclusive workplace culture across the organisation.

Further, the Bank conducted a Masterclass on Unconscious Bias for an Inclusive Workplace for senior leaders, reinforcing the importance of driving inclusive behaviours from the top and strengthening leadership accountability in fostering an equitable and inclusive organisational environment.

Welfare of Retired Employees: Honoring Our Veterans

The Bank remains deeply committed to the welfare and well-being of its retired employees, recognising their invaluable contribution to the institution's growth and legacy. Several welfare measures continue to be extended to support employees during their post-retirement years.

These initiatives include access to Holiday Homes, consultations with Part-Time Medical Consultants, Special Medical Aid, and reimbursement of Medical Insurance premiums, reflecting the Bank's continued commitment towards employee care beyond active service.

To enhance convenience and accessibility, key HR services such as Pension Pay Slip and PPO generation, tax computation, medical premium receipts, TA/DA claims, and Holiday Home bookings have been integrated into the HR Connect mobile application, enabling seamless 24x7 access through a user-friendly digital platform.

Further strengthening its digital initiatives, the Bank has integrated Jeevan Pramaan with HR Connect, facilitating online submission and auto-verification of Life Certificates and ensuring uninterrupted pension disbursement without the need for physical documentation.

Reservation Cell

An exclusive cell has been functioning to monitor the reservation and other enabling provisions for employees belonging to Scheduled Castes (SC) /Scheduled Tribes (ST)

/ Person with Disabilities (PWD) /Ex-Serviceman (Ex-SM)/ Other Backward Classes (OBC) and Economically Weaker Sections (EWS).

Executives in the rank of General Managers are appointed as

Chief Liaison Officers for SC/ST/PWD/EWS and Ex-Serviceman employees and for OBC employees respectively who ensure compliance of various guidelines pertaining to them.

With effect from 1st February, 2019 reservation of 10% for Economically Weaker Sections (EWS) in direct recruitment in the Bank was implemented.

The Bank provides reservations for Persons with Disabilities (PwBDs) at the rate of 4% of the total vacancies arising in officer, (identified posts), clerical and sub-staff as per Government guidelines.

* Includes only Regular employees posted at Domestic Operations of the Bank.

The Bank holds Quarterly meetings with the representatives of All India Bank of Baroda SC/ST (AIBOBSCSTEWA) Employees' Welfare Association and Quarterly meetings with the representatives of All India Bank of Baroda OBC Employees' (AIBOBOBCEWA) Welfare Association, for addressing their concerns.

Bank conducts following training programmes every year for staff members belonging to SC/ST/OBC category and

Liaison Officers of SC/ STs and OBCs at its various training academies:

Pre-promotion training for SC/ST/OBC candidates.

Workshop on reservation policy.

Training programme on disciplinary proceedings.

Recognition of People-Centric Initiatives

The Bank's various initiatives in the areas of employee development, engagement, well-being, inclusivity, and organisational excellence have received recognition at leading industry forums during the year. In recognition of its progressive and people-centric HR practices, the Bank was conferred with the following awards:-

Significant Achievement in

Confederation of Indian Industry (CII).

Best Advance in Mobile Learning Technology Gold Category Award at Brandon Hall Group Excellence in Technology Awards 2025.

Best Companies for Women in India Award in the BFSI sector by Avtar & Seramount As we look toward the future, the Bank remains steadfast in its commitment to creating a workplace where every employee finds purpose, growth, and joy in their work. Our people strategies will continue to evolve, leveraging technology while staying rooted in human values, ensuring that the Bank remains the employer of choice in the Banking sector.

Document Management System

Bank of Baroda is the first among PSBs to implement

Document Management System (DMS) to manage the records for freeing up space by shifting old records to vendor's warehouse and thus give our Branches a neat & clean look providing better feel and experience to our customers. During this financial year 570 branches/Offices Record Management

System (RMS) activity has been completed. Under DMS, physical records are barcoded, indexed, and moved to the warehouse of Record Storage Agency for storage thereof, which can be retrieved at any time as per Bank's requirement. The space which is unlocked is being utilized for customer service efficiency, better branch ambience etc.

Premises Re-engineering

State of the Art construction of Apex Academy Building at Law Garden, Ahmedabad completed and put to judicious use.

Construction of 50 RSETI Buildings completed till date.

Achieved 159% of the set target for procurement through GeM portal in FY 2026.

Green/other Initiatives

386 Leased Branches in rural/semi urban areas being run on Solar Energy capacity of approx. 2.96 Mega Watts reducing approx. 7,412 Tons of Carbon Dioxide Emission since inception.

AI-powered multilingual conversational platform aimed

Installed Solar Panels in 93 owned Premises of the Bank.

Installed capacity approx. 1.91 Mega Watts reducing approx. 3,021 Tons of Carbon Dioxide Emission each year.

Solar Panels of Capacity 125 KWp installed at Bank's MMO Building, 100 KWp at Baroda Apex Academy Building.

Bank has set up Rain Water Harvesting system in 18 Administrative Buildings.

IGBC Green Building Certification in Bank's 6 Owned

Buildings.

Water Efficient Taps & Waterless Urinals installed in several Administrative Buildings saving approx. 30 lakh Liters of water a year.

HR Excellence Award by

Introduced Recycled Paper for office use as pilot project in Corporate Office, Ceased the practice of using plastic water bottles under Green initiatives-BOB Earth.

Automation of work order portal to generate monthly & quarterly procurement reports pan India.

Automation of Lease Management Portal pan India.

Significant reduction in expenses and stationery items, achieving overall cost cutting of approximately 25% compared to the previous financial year.

Health Checkup camps for staff members in tie-ups with various Medical Centers /Hospitals conducted. 24*7 Ambulance facility provided at Baroda Corporate Centre (BCC), Mumbai.

100% achievement in conduct of Currency Chest audits by CSO & Security Officers.

Development of Mobile Banking Security App with help of IT Projects to help Security Officers in Risk assessment of Branches.

Digitization of Security Reports of Bank's Branches.

Implementation of Official Language Policy

Use of Hindi and other Indian Languages for Promotion of business growth and delivery of digital products to customers is a key feature of the Bank's Official Language

Policy. This approach has been appreciated from time to time by the Government of India and regulatory authorities. Your Bank adopted a well-structured Annual Action Plan for

Official Language in order to achieve various targets set by the Government of India under its Annual Implementation Programme FY 2026 and the assurances given to the

Committee of Parliament on Official Language during its visits to various offices/branches of the Bank.

Meetings of the Central Official Language Implementation

Committee, chaired by the MD & CEO/ Executive Directors, were regularly convened on a quarterly basis, and several new initiatives were undertaken during FY 2026. Your Bank announced the launch of "bob SAMVAD", the industry's first at redefining customer interaction experiences across branches. Designed to eliminate language barriers, the platform enables customers and branch staff to communicate seamlessly in their preferred language. Developed entirely in-house, bob SAMVAD leverages AI-driven speech and language technologies to enable real-time, low-latency, two-way communication across 22 languages, ensuring contextual accuracy and natural fluency, while embracing

India's linguistic diversity.

Your Bank has made remarkable progress in providing mobile banking and transactional SMS services in Hindi and 12 other regional languages. WhatsApp Banking services have also achieved significant advancement in Hindi, Gujarati, Bengali, Marathi, Tamil, Punjabi, Telugu, Kannada, Malayalam and English. Internet Banking services are also available in Hindi for the convenience of customers.

In addition, the Bank's Virtual Relationship Manager "Aditi", chatbot "ADI", ILMS package, Digital Loan Platform and BC

Gyan Portal are also available in Hindi. During the period under review, as a new initiative, all auto-generated emails sent through various apps and digital channels/portals of the Bank, as well as sanction letters containing terms and conditions generated through the LLPS package, were made available bilingually in Hindi and English. The Digital Baroda Kisan Credit Card and Gold Loan journeys were also made available in Hindi. All emails sent through the Re-KYC platform were likewise made available bilingually.

Bank introduced an Official Language Rating System for its branches/offices and initiated the "Bhashayi Chaupal" programme for its staff members. The Same were continued during the year. The Bank has created "Shabdanad" page on its website to preserve records of various Official Language activities, awards and other related information pertaining to the Bank at the Corporate Office, Zonal Offices, Regional Offices and branches.

The Bank also organised quarterly campaigns across various departments established at Zonal Offices, such as Risk

Management, Information Technology, Legal and Credit, to increase correspondence in Hindi. Hindi Diwas, World Hindi Day and International Mother Language Day were celebrated across various offices/branches in India and overseas. To foster creativity and writing skills among staff members, the Bank continued publication of two corporate-level magazines

— Bobmaitri (house magazine) and Akshayyam (Hindi magazine). The Bank has also been continuously expanding the reach of the mobile application "bob Abhivyakti 2.0", developed for serving and retired staff members. The app provides an engaging online reading experience for all magazines/newsletters, including Bobmaitri and Akshayyam, while also supporting the Bank's Go-Green initiative in a significant manner.

For customer convenience, the Bank's self-service passbook printing kiosk has been enabled to print passbooks in Hindi. While extending digital banking facilities, the Bank is also providing SMS alerts in Indian languages for all Financial Inclusion accounts. The Bank is offering the facility of generating bilingual its mobile banking app. The HR Connect Portal for employees has also been made bilingual. The Hindi website of the Bank has been redesigned attractively and its content is regularly updated, resulting in a significant increase

The Bank has also enabled customers to choose SMS and WhatsApp Banking facilities in their preferred language while opening accounts through Tab Banking. The Bank has consistently ensured posting of Hindi content on social media handles on appropriate occasions.

In line with evolving banking requirements, the Bank has developed an AI-based "Samarthya Toolkit 3.0" (Technical Toolkit) to promote Official Language implementation and create awareness among staff members regarding various e-tools for and are working in Hindi and regional languages. Trainingnow available programmes on the use of this tool were conducted at various levels. Furthermore, to connect with the younger generation, the Bank organised various programmes and competitions in schools and colleges across the country, thereby strengthening the Bank's image among youth and contributing towards business mobilisation and growth. The efforts of your Bank have been appreciated by the Government of India from time to time. During the year, the Bank was awarded with the First Prize under the Government of India's "Rajbhasha Kirti Puraskar" scheme for outstanding performance in the field of Official Language implementation. In addition, The Town Official Language Implementation

Committee (TOLIC), Vadodara, functioning under the convenorship of the Bank was awarded the Third Prize under the "NARAKAS Rajbhasha Samman" scheme. Similarly, the

Gandhinagar, Ahmedabad and Jaipur TOLIC, functioning under the convenorship of Bank, were also awarded by the respective Regional Implementation Offices of the Government of India. The Bank's Zonal Offices at Baroda and Lucknow, and Regional Offices at Jaipur and Varanasi, were also awarded for excellence in Official Language implementation by the respective Regional Implementation

Offices of the Government of India.

During FY 2026, the Bank was conferred a total of 26 awards from the Ministry of Home Affairs, Government of India, including Kirti Puraskar Awards, Regional and other Awards.

Further, various offices of the Bank received a total of 115 awards from various TOLICs across the country functioning under the aegis of the Ministry of Home Affairs. The Bank was also awarded a Certificate of Appreciation of the Department of Financial Services, Government of India, for people-centric and innovative initiatives relating to Indian languages, effective implementation of the Official Language

Policy, and optimum use of technology for progressive use of the Official Language.

The Bank organised regular meetings of 29 Town Official

Language Implementation Committees functioning under its convenorship and ensured compliance with the guidelines prescribed by the Government of India in this regard. The

Bank also continued its flagship "Medhavi Vidyarthi Samman

Yojna" to promote Hindi in 70 universities across the country.

Under this scheme, cash prize and certificates of merit are given to two meritorious students securing first and second positions in the final year M.A. (Hindi) examinations every through academic year.

In essence, the Bank remains committed not only to fulfilling its constitutional obligations relating to Official Language, but also to promoting the use of Hindi and other Indian languages as tools to business development and enhanced customer convenience.

Corporate Social Responsibility (CSR)

The Bank has a long legacy and tradition of actively contributing to the social and economic development of the communities through various development activities. The Bank as a responsible corporate citizen, continuously strives to contribute towards social welfare & environmental protection, particularly for the upliftment of the underprivileged sections of the society to make sustainable social changes in their lives. Skill development through training for gainful employment, human welfare and other social activities like women welfare, health care etc continues to remain the Bank's key focus areas. The Bank is helping different organizations engaged in various community development and socioeconomic welfare activities for the benefit of weaker sections and rural citizens.

The Bank has -69- Rural Self Employment Training Institutes (RSETIs) in 11 States/UTs across the country to impart skill development training to the youth of rural and semi urban areas for generating self-employment. Since inception, these centres have conducted 28,789 training programmes and imparted training to 8.19 lakh youth, out of which 5.81 lakh have already setup their own ventures or have secured wage employment.

The Bank has also set up -88- Financial Literacy Centres

(FLCs) in 13 States/UTs which provide financial counselling services and education to the people in rural, semi-urban and urban areas about various financial products and services available from the formal financial sector. These centres also take up activities that promote financial literacy, cyber security awareness, and awareness about banking services, digital banking, financial planning and amelioration of debt-related distress of an individual. During this financial year our

FLCs centres across the country conducted 9111 meetings/ camps to impart financial awareness to 3,99,547 people.

As per RBI directives, Bank has also set up 196 Centres for Financial Literacy (CFLs) spread across -9- states and

-1- Union Territory that are aimed at imparting financial literacy in tribal and backward blocks through innovative and participatory approach.

As a part of Bank's commitment towards protection of environment, under Environmental, Social, and Governance (ESG) principles, Bank is implementing a project of planting a tree against Auto loan/Housing loan disbursement.

In addition to above, Bank has also donated to various social causes viz., financial assistance to deserving poor students for their education, donation of medical equipment and healthcare to hospitals, donation towards installation of RO Water Purification System water, financial support for Life-Saving Pediatric Cardiac

Procedures, donation for providing assistive devices to Divyangjan, donation towards relief fund in natural calamities affected areas.

Domestic Subsidiaries and Joint Ventures BOBCARD Limited

Established in 1994 as a wholly owned subsidiary of Bank of Baroda, BOBCARD Limited operates as a Non-Banking Financial Company specializing in credit cards. Its core proposition lies in offering simple, transparent, and fairly priced products with a fully digital application process. FY 2026 marked another year of consolidating BOBCARD's position in the industry and deepening integration with its parent bank. BOBCARD ranked 8th basis number of active cards as per Mar'26 RBI report. The company issued 7.61 lakh new credit cards, maintaining its status as one of the largest issuers in incremental customer acquisition.

Growth was driven by a two-pronged strategy (i)Focus on premium offerings (ii) Expansion through strategic partnerships The credit card industry is increasingly witnessing a strong shift towards premium, travel-led, and digitally integrated propositions, particularly across younger and affluent customer segments. Aligned to this evolving market trend, BOBCARD has introduced new products in FY 2026 catering to various market segments. These BOBCARD products demonstrateencouragingtractionacrossexpandingcustomer base, customer engagement, and spend behaviour, while simultaneously strengthening BOBCARD's digital ecosystem capabilities. Various Customer engagement initiatives were implemented to further strengthen the customer lifetime value during FY 2026.

Brief Highlights of BOBCARD limited for FY 2026

BOB Capital Markets Ltd.

BOB Capital Markets Ltd. (BOBCAPS), a wholly owned subsidiary of Bank of Baroda, is a SEBI registered Category-I Merchant Banker and also a Stock Broker with memberships of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

BOBCAPS offers a wide spectrum of financial services that includes fund raising from primary markets, PE funds, debt syndication, debt resolution, mergers and acquisitions advisory, stock broking (both institutional and retail) and depository. It has two operating segments, viz. Investment Banking and Broking. for providing safe drinking

BOBCAPS continue to focus on originating deals and growing broking business. The Retail Broking business revenue has shown remarkable growth of 64% YoY. Institutional Broking business have continued to empanel new clients & revival of large clients for business expansion. Investment banking team worked on multiple mandates & successfully closed transactions including IPOs, OFS, Debt resolutions, Debt syndication & DCM deals. Investment Banking Equity team successfully closed IPO of Smartworks, Cleanmax, OFS of Andrew Yule and company, advisory of RACL geartech, appointed left lead for couple of upcoming deals. For the year, Company incurred a loss, primarily on account of lower revenue in the current period and marginal increase in cost. With a view to broaden revenue mix the company launched MTF product during the year & is expected to contribute significantly in coming years.

Brief Highlights of BOB Capital Markets Ltd for FY 2026 are indicated below:

Baroda Global Shared Services Ltd.

Baroda Global Shared Services Limited (BGSSL), a wholly owned subsidiary of Bank of Baroda, was incorporated pursuant to a strategic initiative undertaken by the Bank in

2017 to consolidate its back-office operations under a single, integrated entity. This initiative was aimed at enhancing process efficiencies and realizing economies of scale. BGSSL was among the first Shared Services organizations established within the Public Sector Banking ecosystem in India. Over the course of nine years of operations, the Company has emerged as a leading Shared Services provider and a benchmark institution, setting standards for similar initiatives across the Banking sector.

The Company operates as a comprehensive Shared Services organization, delivering a wide range of services to the parent Bank. These include Retail Assets encompassing Sales, Operations, and Collections; Retail Liabilities Back-office Operations; Trade Finance Back-office Services; Call

Centre Operations; Financial Inclusion Services; Government Business Support Services; and International Banking Support Services, including support operations for Bank of Baroda – United Kingdom.

During FY 2026, the Company initiated the "Digital Champs" process pilot, deploying BGSSL personnel at Bank of Baroda branches to enhance customer adoption of digital channels, improve digital penetration, and reduce branch-level operational load. Additionally, synergies with subsidiaries were strengthened through the successful rollout of Bank of Baroda credit card cross-sell initiatives in collaboration with BOB Credit Cards, leveraging BGSSL's distribution capabilities.

The Company continues to play a critical role in supporting the strategic objectives of the parent Bank by contributing to a reduction in the overall cost-to-income ratio, improved operational efficiency, mitigation of credit losses, facilitation of new business generation, and strengthening of customer retention. Through its focused service delivery model, BGSSL remains committed to creating sustained value for the parent Bank and other stakeholders.

During FY 2026, the Company played a significant supporting the business growth of the parent Bank through its Retail Assets sourcing operations. Leveraging its dedicated Direct Sales team, BGSSL facilitated sourcing of customers across Home Loans, Auto Loans, Education Loans, and Tractor Loans, contributing business aggregating to approximately `18,753 crore. This performance was achieved alongside a meaningful improvement in productivity, while maintaining cost of acquisition (COA) at optimal levels. In the Collections business, the Company extended support to the Bank through tele-calling services for SMA0 accounts. In FY 2026, Collections performance strengthened materially, with tele-calling POS resolution achieving an efficiency of 98.7%, contributing significantly to recoveries.

Further, in line with its commitment to delivering sustained business performance, the Company's Corporate Business Correspondent (CBC) operations recorded an increase in revenue to `9.22 crore in FY 2026.

Continuing its focus on operational excellence, continuous improvement, and robust compliance, the Company achieved year-on-year productivity and efficiency improvement of approximately 13% across its back-office operations.

During the year, the Company successfully completed ISO 9001:2015 and ISO 22301:2019 surveillance audits and transitioned from ISO 27001:2013 to ISO 27001:2022, reinforcing its commitment to quality, business continuity, and robust information security standards.

Recognizing the growing importance of information and cyber security, the Company implemented several advanced security solutions during the year, including NAC, Secure Web Gateway Enforcement on Remote Devices, ITSM Solution for Endpoint Management, set-up Near Disaster Recovery site at Baroda & deployed Oracle Cloud for business-critical services.

The Company also recorded a score of 4.26 in the DARPAN Employee Survey (BGSSL Internal) conducted during

FY 2026, reflecting sustained focus on employee engagement and organizational culture. Further, BGSSL successfully implemented an Enterprise Resource Planning (ERP) system in the Finance function, resulting in enhanced financial governance, improved process integration, and strengthened reporting and control mechanisms.

The Company also deployed a Next-Generation Omnichannel Contact Centre, enabling seamless integration across multiple customer interaction channels and improving efficiency, responsiveness, and overall customer experience

A Snapshot of the BGSS Financial Performance

*FY 2026 figures are unaudited.

BarodaSun Technologies Ltd.

BarodaSun Technologies Limited (BSTL), a wholly owned subsidiary of Bank of Baroda, is a Public Limited Company incorporated under the Companies Act, 2013, pursuant to the approval of the Reserve Bank of India dated 3rd January 2017. The Company is mandated to provide IT-related services exclusively to Bank of Baroda, in terms of the said approval, and accordingly, its operations are confined to the requirements of the Bank.

The Company is engaged in providing system integration, consultancy, and IT-enabled business solutions, along with program and project management services for enterprise-wide IT initiatives of Bank of Baroda. At present, the Company's activities are at a nascent stage, with limited services being rendered, in the form of facilitator to Bank of Baroda.

The Nainital Bank Ltd.

The Nainital Bank Limited (NBL), originally promoted by Late Bharat Ratna Pandit Govind Ballabh Pant in 1922, became a subsidiary of Bank of Baroda in 1973. The Bank's holding in

Nainital Bank Ltd is 98.62%. NBL has its registered in Nainital and operates in five states: Uttarakhand, Uttar

Pradesh, Delhi and National Capital Region (NCR), Haryana, and Rajasthan. NBL has 176 branches as of March 31, 2026. The total business of NBL increased from `13,225.68 crore on March 31, 2025, to `14,118.02 crore as of March 31, 2026. The Bank posted a net profit of `63.24 crore in FY 2026, compared to a net profit of`50.61 crore during the previous year.

Baroda BNP Paribas Asset Management India Pvt. Ltd

(BBNPP AMC)

BBNPP AMC is a majority owned subsidiary of Bank of Baroda. It is a Joint Venture (JV) between Bank of Baroda (50.1% shareholding) and BNP Paribas Asset Management Asia Ltd. (49.9% shareholding). The Company is the Asset manager for Baroda BNP Paribas Mutual Fund. Both Bank of Baroda and BNP Paribas AM had existing fund management businesses in India, which were merged in March 2022 to create this Joint Venture.

BBNPP AMC builds on the strength of its sponsors. The AMC leverages the vast network and local reach of the Bank of Baroda and global best practices and market knowledge of BNP Paribas Asset Management. Over the years, AMC has aggressivelyinvestedinstrengtheninginvestmentcapabilities, product range, reach, and distribution. The AMC managed MF AAUM of `54,608 crore in March 2026, representing a strong growth of 20% on a YoY basis. Additionally, the AMC has a branch in GIFT city and is registered as Fund Management Entity (FME) wherein it currently offers portfolio management and advisory services to offshore clients with AUM of `4,852 crore as of Mar 31, 2026. Driven by strong

AUM growth and cost discipline, it has resulted in significant cost savings. The positive Jaw effect led to a significant in profitability for FY 2026.

Brief Highlights of Baroda BNP Paribas Asset Management India Pvt. Ltd. for FY 25-26 are indicated below:

*Includes advisory and AIF AAuM of ` 4,105 crore in Q4'25 and `4,852 crore in Q4'26.

Indian MF industry is seeing accelerated growth driven by the rising aspiration of Indian middle class coupled with increased awareness about Mutual funds. An encouraging trend is that smaller towns are growing faster than the pace of larger cities. India has possibly the best digital transaction infrastructure in the world, leading to rapid digital adoption by clients. Our AMC is leveraging all these trends to create a strong presence in India.

The AMC is committed to building a top-tier fund house that office serves both -clients at home in India as well as helps foreign investors access the Indian market.

Baroda BNP Paribas Trustee India Pvt Ltd.

BNP Paribas Trustee India Pvt. Ltd. merged with Baroda Trustee India Pvt. Ltd. (a wholly owned subsidiary of the Bank) with effect from 14.03.2022 leading to formation of Baroda BNP Paribas Trustee India Pvt. Ltd. wherein Bank's share is 50.10% and that of BNP Paribas Asset Management Asia Ltd is 49.90%. It is a governing body for Baroda BNP Paribas Mutual Fund / BBNPP AMC with a duly constituted Board of Directors, as prescribed under the SEBI (Mutual Funds) Regulations, 2026.

IndiaFirst Life Insurance Company Ltd.

Headquartered in Mumbai, IndiaFirst Life Insurance Co. Ltd., is a domestic subsidiary of Bank of Baroda promoted along with Carmel Point Investments India Private Limited, owned by private equity funds managed by Warburg Pincus LLC. Union Bank of India is an investor in the Company. Total share capital of the Company is `1,441 crore (including share premium). In FY 2026, IndiaFirst Life posted Total Gross Written Premium of `8,019 crore with YoY growth of 11%. The Company maintained 12th rank as compared to last year on Individual New Business APE (Regular premium + Single premium at 10%) amongst private Life Insurers. IndiaFirst Life's assets under management (AUM) is at `34,403 crore as on 31st

March 2026. Company posted Net Profit of `127 crore and total Income of `9,565 crore for FY 2026. IndiaFirst Life settled over 36,822 death claims amounting to over `830 crores apart from maturity/ survival payouts of `1,560 crore in FY 2026. The excellence of the Company across business, brand, digital, and leadership acumen was recognized through 70+ awards during the year. IndiaFirst Life was Certified as a Great

Place to Work for the 8th consecutive year by Great Places to Work (GPTW) as India's Top 25 Best Workplaces in BFSI (2026), we have been recognised as India's Top 100 Best Companies to Work For (2025), India's Best Workplaces in Life Insurance (2025), and India's Best Workplaces for Women 2025. IndiaFirst Life is also recognized amongst India's Top 100 Organizations in DEI Excellence. IndiaFirst Life is recognized in the "ET Best Brands 2025" list for 6th consecutive year. The Company has inaugurated a large operating office at

Malad, Mumbai during the year with a capacity of over 300 employees. This will help the Company cater to needs of growing business and expanding channels of distribution over the coming years.

A new brand campaign, "Zimmedariyaan Humse Baantiye,

Halka Lagega," went live in November. The campaign has attracted significant media appreciation across the insurance fraternity. The Company is confident that this initiative will enhance its visibility and strengthen its brand image.

Run by a capable management team, the Company continues to work towards the vision of our Hon'ble Prime Minister of ‘Insurance for all by 2047' while balancing interests of all stakeholders through innovative products, tech enabled processes, superior customer experience and value accretive business.

India Infradebt Ltd.

India Infradebt Limited (Infradebt) is the first Infrastructure

Debt Fund (IDF)- NBFC to commence operations in India. Bank of Baroda and ICICI Bank Limited are the largest shareholders, while other shareholders include Citicorp Finance (India) Limited and Life Insurance Corporation of India. Infradebt finances the relatively safe, completed infrastructure projects which have achieved at least one year of commercial operations. Infradebt has been rated AAA/ Stable outlook by CRISIL and ICRA since inception. Infradebt also enjoys 100% income-tax exemption on all its income. The synergy with the Bank arises from Infradebt's focus on lending to strong, stable infrastructure projects - mainly renewable energy projects, road projects and airport projects, thus promoting green energy in India and contributing to nation building. Infradebt business has grown steadily, with a loan book of `30,817 crore, Net Profit of `614 crore and Return on Equity of 15.2% during FY 2026. Infradebt has also been paying dividends continuously for the past nine years.

BOB Securities and Giltedge Limited

The Bank has incorporated a wholly owned subsidiary namely BOB Securities and Giltedge Limited on 13.03.2026, for undertaking Bank's existing Primary Dealer (PD) business as a standalone entity. The company has applied for NBFC license with RBI. Further, Bank has infused an initial capital of `500 crore into the company on 30.03.2026.

A brief summary of Bank's all the domestic subsidiaries and Joint Ventures for FY 2026 is given below:

*3637 On BGSS payroll & 737 third party Employees.

Awards and accolades received by the Bank

Bank of Baroda has been recognised at the prestigious Indian Banks' Association's (IBA) 21st Annual Banking Technology Awards 2024-25, winning honours across five award categories among Large Banks, including four wins and one Special Mention. Bank of Baroda was adjudged the Winner in four categories - Best AI

& ML Adoption, Best Fintech & DPI Adoption, Best IT Risk Management and Best Tech Talent. In addition, the Bank received a Special Mention in the Best Technology Bank category.

Bank of Baroda recognised as ‘Best Bank in India' at The Banker's Bank of the Year Awards 2025.

Bank of Baroda wins Indian Green Building Council

(IGBC) Platinum & Silver Green Building Certifications for its Apex Academy in Ahmedabad and Baroda Bhawan in Vadodara at Green Building Congress 2025.

Recognised as "Best Innovative Bank in MSME

Financing" at the MSME Banking Excellence Awards 2025, organised by the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME).

Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda has been selected as the Best CEO in the

"Large Bank" category at the Fortune India India's

Best CEOs 2025 Awards.

Bank of Baroda received the Trend Global Customer Excellence Award by Trend Micro for Outstanding Execution of Cybersecurity Strategies.

Bank of Baroda selected as Runner-Up, APAC of the 2025 Gartner Eye on Innovation Awards for Banking

& Investing in recognition of Multimodal, Multilingual Transactional Virtual Relationship Manager for Retail

Banking "ADITI"

Bank of Baroda, IFSC Banking Unit wins "Innovative

Bank of the Year" Award at 2nd GIFT International Banking Forum 2025.

Bank of Baroda has been awarded ‘First Prize' under the Government of India's ‘Rajbhasha Kirti Puraskar' scheme for the year 2024-25 for outstanding performance in

Official Language Implementation.

Bank of Baroda has secured 2nd position at the Digital Payments Awards for FY 2024-25 under the Public Sector Category, presented by the Department of Financial Services (DFS), Ministry of Finance.

Bank of Baroda was awarded in the "Contributing Most to

Credit & Collection-Best Practices in India-Public Sector Bank" category at the 3rd edition of Credgenics Credit

& Collections Summit & Awards 2025, The Bank also received the following individual awards – ‘Excellence in Compliance & Regulations' and ‘Emerging Leader in Risk/Credit & Collections'.

Bank of Baroda wins Finnoviti Award 2025 under the ‘Tech in HR' category for Tech-led HR innovation.

Bank of Baroda received recognition in all categories at the 4th IBA CISO Summit & Citations 2025 in the Public Sector: Large Bank category: 1. Cyber Security Transformation of the Year (Winner); 2. CISO Elevator Pitch (Runner-up); 3. Cyber Security Team of the Year (Special Prize); 4. Cyber Security Incident Response Maturity (Special Prize); 5. Cyber Security Compliance Champion (Special Prize).

Bank of Baroda bagged the Gold Award under the Public

Sector Banks category at the "National MSME Impact

Awards 2025" organised by the India SME Forum.

Bank of Baroda was honoured at the 8th Regional Industry Skill & Employment (RISE) Conclave, organised by the Directorate of MSME, Government of Madhya Pradesh, for outstanding MSME Credit Performance.

Bank of Baroda was adjudged the ‘Best Banking Group – India' at the World Finance Banking Awards 2025. Bank of Baroda receives ET Now Best BFSIregardingBrands

2025 Award.

Bank of Baroda honoured with ‘Significant Achievement in HR Excellence' Award by Conefederaion of Indian Industry (CII).

Best Advance in Mobile Learning Technology Gold Category Award at Brandon Hall Group Excellence in Technology Awards 2025.

Best Companies for Women in India Award in the BFSI sector by Avtar & Seramount.

Bank of Baroda has secured the 1st runner up position in the over all rankings under the Top Performing Banks catagory in the EASE 7.0 Reforms Index. The Bank ranked #1 in two catagories: Adoption of new-age Technology and other advanded capabilities and Developing employees for emerging banking prioities and #3 in Effective risk/fraud management, collections and recovery and Banaking towards Viksit Bharat theames.

Bank of Baroda declared as Winner Bank in "Net Sales

– Equity and Hybrid Mutual Funds" category at the AMFI Mutual Fund Summit 2025.

Dividend Distribution Policy

Board of Directors of the Bank has recommended a dividend of `8.50 per share for the financial year ended March 31, 2026.

The total outgo in the form of dividend will be `4,395.66 crore. The payment of dividend is subject to requisite approvals. The dividend distribution policy is given in this Annual Report and is also available on the Bank's website.

Board of Directors (Appointment / Cessation of Directors during the year)

Appointments

Shri Ashish Madhaorao More was nominated as Government Nominee Director w.e.f. 24th July, 2025 by the Central Government u/s 9 (3) (b) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, to hold the post until further orders.

Cessations

Dr. M.P. Tangirala ceased as a Government Nominee Director w.e.f. 23rd July, 2025 on the appointment of Shri Ashish Madhaorao More.

Board Evaluation

Bank is following Government of India guidelines advised by DFS vide its letter eF.no.14/1/2025-BO.I dated 11th September 2025 to conduct an independent review of the overall Evaluation of the Bank's Board annually to enhance Governance and transparency.

Auditors' Compliance Certificate Governance: the The Auditors' Compliance Certificate compliance of the conditions of Corporate Governance for the year FY 2026 is annexed with this report pursuant to

"Part E" of Schedule V of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2016.

Business Responsibility and Sustainability Reporting

(BRSR)

Business Responsibility and Sustainability Reporting (BRSR) Report as required by SEBI has been hosted on the website of the Bank and the same can be accessed on https:// bankofbaroda.bank.in/shareholders-corner/sustainability-disclosures.

Disclosure on Green Bond issuance and Deployment

The Disclosure requirements on Green Bond issuance and Deployment in compliance with the applicable guidelines of the Securities and Exchange Board of India (SEBI) as per SEBI NCS Regulations 2021 read with SEBI NCS Operational Circular, 2023, as amended from time to time is annexed with this Report.

Directors' Responsibility Statement

The Directors confirm that in the preparation of the annual accounts for the Financial Year ended March 31, 2026. a) The applicable accounting standards had been followed along with proper explanation relating to material departures, if any; b) The accounting policies framed in accordance with the guidelines of RBI were followed and the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit and loss of the Bank that period; c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of applicable laws to the Bank for safeguarding the assets of the Bank and for preventing and detecting fraud and other irregularities; d) The Directors had prepared the annual accounts on a going concern basis; and e) The Directors had ensured that internal financial controls followed by the Bank are in accordance with guidelines issued by the RBI in this regard and that such internal financial controls are adequate and were operating effectively.

Explanation: For the purposes of this clause, the term "internal financial controls" means the policies and procedures adopted by the Bank for ensuring the orderly and efficient conduct of its business, including adherence to Bank's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information; f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Acknowledgements

The Directors placed on record their appreciation for the contribution made by Dr. M.P. Tangirala outgoing GOI Nominee Director.

The Directors expressed their sincere thanks to the Government of India, RBI, Securities and Exchange Board of India, other regulatory authorities and the overseas regulators for their continued co-operation, guidance and support. The Directors would like to take this opportunity to express sincere thanks to our valued clients for their continued patronage and support.

The Directors acknowledge with deep appreciation for the cooperation extended by all shareholders, Banks and Financial Institutions, Rating Agencies, Stock Exchanges and all well-wishers in India and Abroad. The Directors also take this opportunity to place on record of appreciation for the hard work and dedication of the employees of the Bank.