CONSOLIDATED BALANCE SHEET (SHS ‘000)(Unaudited) (Unaudited) (Audited)

Assets 30.06.2014 30.06.2013 31.12.2013Cash and balances with BOU 199,255,099 156,935,699 43,764,359Balances with banking institutions 50,561,100 52,191,000 218,525,000Due from parent/group companies 72,864,773 34,776,238 4,343,471Marketable (trading) securities 245,397,859 129,559,198 202,794,681Loans and advances (Net) 465,176,296 360,482,610 435,559,917Investment securities 33,585,900 49,128,000 29,287,338Interest receivable and other assets 23,626,872 29,386,994 2,547,175Property and equipment 10,455,342 12,160,108 11,036,994Tax recoverable - - 551,139Deff ered tax Asset 266,505 1,219,252 266,519Total assets 1,101,189,746 825,839,099 948,676,593

Liabilities and Shareholders’ Equity

Customers’ deposits 762,495,795 569,795,178 647,540,368Balances due to Banking Institutions 93,131,510 56,035,307 101,936,189Due to parent/group companies 182,636 - 8,528Interest payable and other liabilities 65,372,523 51,432,085 36,277,784Tax payable - - -Dividends payable - - 246,815Deferred tax liability - - -Subordinated debt - - - Total liabilities 921,182,464 677,262,570 786,009,684Share capital 25,000,000 25,000,000 25,000,000Share premium - - -Retained earnings 140,512,766 109,953,306 123,576,288Reserves 9,494,516 8,623,223 9,090,621Proposed Dividend 5,000,000 5,000,000 5,000,000Total shareholders’ equity 180,007,282 148,576,529 162,666,909Total liabilities and shareholders’ equity 1,101,189,746 825,839,099 948,676,593

INCOME STATEMENT (Unaudited) (SHS ‘000)Consolidated

Income 30.06.2014 30.06.2013 31.12.2013(Unaudited) (Unaudited) (Audited)

Interest on deposits and placements 5,778,883 5,583,049 11,722,869Interest on loans and advances 35,355,953 28,122,345 61,722,194Interest on marketable/trading securities 10,789,548 6,433,737 13,871,109Interest on investment securities 5,464,910 3,480,058 7,720,537Other interest income -Foreign exchange income 858,922 1,441,539 2,199,165Fees and commissions income 4,189,658 4,129,882 10,614,974Other income 1,974,805 2,592,561 492,114Total Income 64,412,679 51,783,171 108,342,962

Expenditure

Interest expense on deposits 27,468,933 20,233,819 43,307,730Interest expense on borrowings 3,050,955 1,826,398 3,969,201Interset expense on trading securities - - -Other interest expense - - -Provisions for bad and doubtful debts 12,190 4,064,613 -994,834Management Fees 1,733,610 880,592 3,334,648Operating expenses 6,423,837 4,719,215 10,707,325Other expenses 4,059,678 2,521,990 7,070,582Total Expenditure 42,749,203 34,246,627 67,394,652Net profi ts before tax 21,663,476 17,536,544 40,948,310Taxation 4,323,103 3,871,874 10,064,585Net Profi ts after tax 17,340,373 13,664,670 30,883,725

IV OTHER DISCLOSURES (SHS ‘000) 30.06.2014 30.06.2013 31.12.2013(Unaudited) (Unaudited) (Audited)

Contigent liabilitiesLetters of Credit 28,785,695 31,095,987 21,031,217Guarantees and Performance Bonds 82,325,201 58,070,197 80,837,838Other Contingent Liabilities - - Total 111,110,896 89,166,184 101,869,055

CommitmentsUndrawn stand-by facilities -Undrawn credit lines 7,945,174 14,038,915 11,856,332Other commitments to lend -Total 7,945,174 14,038,915 11,856,332

BANK OF BARODA (U) LTD (SHS ‘000)

Consolidated 30.06.2014 30.06.2013 31.12.2013(Unaudited) (Unaudited) (Audited)

Non-performing Loans and other Assets 11,104,055 10,267,160 8,426,548Interest in Suspense - - -Bad debts written off 160,272 80,758 959,614Large loan exposures 121,316,000 125,083,000 116,920,000Insider loan exposures - 393 10,118Capital Position: Core Capital 160,716,306 131,808,785 148,269,300Supplementary Capital 9,494,516 8,623,222 9,090,621Total Qualifying Capital 170,210,822 140,432,007 157,359,921Total Risk Weighted Assets (RWA) 585,623,983 485,101,570 486,991,828Core Capital to RWA 27.44% 27.17% 30.45%Total Qualifying Capital to RWA 29.06% 28.95% 32.31%

Bank of Baroda (Uganda) Ltd.banking with passion

Summarized Unaudited Financial Statements for the period ended 30th June 2014

Branches: Kampala Main: 0414 233680, Railway Station: 0414 255248, Kansanga: 0414 269641, Kawempe: 0414 568740, Owino Market: 0414 256188, Industrial Area: 0414 237545, Kololo: 0414 532227, Entebbe: 0414 323155, Mukono: 0414 291990, Jinja: 0434 123162, Iganga: 0434 242400, Mbale: 0454 432817,

Lira: 0473 420030, Mbarara: 0485 421330, Kabale: 0486 422807, Off -site ATM’s: Oasis Mall, Mazima Mall, Lugazi and Njeru Industrial Area, Jinja

CASH FLOW STATEMENT Consolidated31.12.2013 30.06.2014

(Audited) (Unaudited)Ush ‘000 Ush ‘000

Cash Flows from operating activitiesCash generated from operations 8,613,144 160,474,626Tax paid (10,459,234) (4,806,749)Other non-cash itemNet cash from operating activities (1,846,090) 155,667,877Cash fl ows from investing activitiesPurchase of property, plant and equipment (538,539) (184,137)Sale of property, plant and equipment 18,030 7,000Purchase of other intangible assets - -Net Cash from investing activities (520,509) (177,137)Cash fl ows from fi nancing activitiesDividends Paid (5,000,000) -Total cash movement for the year (7,366,599) 155,490,740Cash at the beginning of the year 51,130,958 43,764,359Total cash at end of the year 43,764,359 199,255,099

Statement of changes in Equity Consolidated

Share Capital Revaluation Reserve

Fair value adjustment assets available for

sale Reserve

Proposed Dividend

Unencumbered General Provisions Total Reserves Retained

Income Total Equity

Ushs. ‘000 Ushs. ‘000 Ushs. ‘000 Ushs. ‘000 Ushs. ‘000 Ushs. ‘000 Ushs. ‘000 Ushs. ‘000

Balance as on January 01, 2013 as restated 10,000,000 5,018,397 - 5,000,000 3,474,891 13,493,288 111,418,571 134,911,859

Changes in EquityIssue of Bonus Shares 15,000,000 (15,000,000)Total comprehensive income for the year (175,644) 1,871,325 1,695,681 30,883,725 32,579,406

Transfer of Investment fl uctuation Reserve (1,871,325) (1,871,325) 1,871,325 -

Movement in Regulatory General Credit risk Reserve 772977 772,977 (772,977) -

Dividend Paid (5,000,000) (5,000,000) (5,000,000)Transfer of excess depreciation - 250,920 250,920Deferred tax on depreciation - (75,276) (75,276)

- Dividends 5,000,000 5,000,000 (5,000,000) -Total changes 15,000,000 (175,644) - - 772,977 597,333 12,157,717 27,755,050Balance as on December 31, 2013 25,000,000 4,842,753 - 5,000,000 4,247,868 14,090,621 123,576,288 162,666,909

Balance as on January 01, 2014 (Audited) 25,000,000 4,842,753 - 5,000,000 4,247,868 14,090,621 123,576,288 162,666,909

Changes in EquityIssue of Bonus Shares - - Total comprehensive income for the year (1,680,521) (1,680,521) 19,020,894 17,340,373

Transfer of Investment fl uctuation Reserve 1,680,521 1,680,521 (1,680,521) -

Movement in Regulatory General Credit risk Reserve 403,895 403,895 (403,895) -

Dividend Paid - - - Transfer of excess depreciation - - -Deferred tax on depreciation - - -

- Dividends - - - - Total changes - - - - 403,895 403,895 16,936,478 17,340,373 Balance as on June 30, 2014 (Unaudited) 25,000,000 4,842,753 - 5,000,000 4,651,763 14,494,516 140,512,766 180,007,282

Bank of Baroda (U) Ltd. A Financial Institution regulated by Bank of Uganda

• The fi nancial statements were verifi ed by the Statutory Auditors PKF Uganda and approved for publishing by the Board of Directors.

• A copy of the full interim fi nancial report can be obtained from the offi ce of the Company Secretary situated at 18, Kampala Road, Uganda or at www.bankofbaroda.com

www.bankofbaroda.ug

Signed (Chairman) Signed (Managing Director)