Bank of Baroda edges higher after global business rises by over 10% YoY in Q1 FY25

Bank of Baroda advanced 2.47% to Rs 251.10 after the global business of the bank aggregated to Rs 25,06,809 crore as of 30 September 2024, up by 10.23% from Rs 22,74,148 crore as on 30 September 2023.

The banks global business has grown by 3.70% as compared to Rs 24,17,464 crore as on 31 March 2024. These figures were announced by the bank after market hours on Thursday.

The global deposits of the public sector bank have increased by 9.11% to Rs 13,63,486 crore as on 30 September 2024 from Rs 12,49,647 crore. Domestic deposits accounted for 84% of the global deposit, down 200 basis points on YoY basis.

BoBs global advances amounted to Rs 11,43,323 crore as on 30 September 2024, higher by 11.60% as compared with the same period last year.

As of 30 September 2024, domestic advances and domestic retail advances of the bank stood at Rs 9,39,128 crore (up 12.51% YoY) and Rs 2,32,320 crore (up 19.95% YoY), respectively.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,266 branches and 10,419 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 84 overseas offices spanning 17 countries. As of 30 June 2024, Government of India held 63.97% stake in the bank.

The bank had reported 9.53% increase in standalone net profit to Rs 4,458.15 crore in Q1 FY25 from Rs 4,070.07 crore in Q1 FY24. Total income increased by 7.49% YoY to Rs 32,115.95 crore in Q1 FY25.

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