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State-owned lender Bank of Baroda plans to raise up to Rs 10,000 crore through issuance of green infrastructure bonds on March 4. The base issue size is Rs 5,000 crore, with a green shoe option to retain oversubscription of up to Rs 5,000 crore, taking the total issue size to Rs 10,000 crore, market sources said. Bonds will have a tenor of seven years and are scheduled to mature on March 5, 2033. The pay-in and allotment date is March 5, 2026. Pay in is the date when exchange of bonds and money takes place between issuer and investor. The bidding for the bond issue will take place between 11:00 am and 12:00 pm on March 4 on the Electronic Book Provider (EBP) platform of the National Stock Exchange of India. Bonds have been rated 'AAA' with 'Stable' by CARE Ratings and ICRA. The bonds will carry annual interest payments and will be allocated on a uniform yield basis through a closed bidding process. The minimum application size is Rs 1 lakh and in multiples of Rs 1 lakh thereafter.
State-owned Bank of Baroda (BoB) on Monday announced a 30-basis-point reduction in its car loan interest rates, effective immediately. The bank's floating rate now starts from 7.6 per cent per annum, BoB said in a statement. The bank also offers an attractive fixed rate of interest on Baroda car loans, starting at 8.5 per cent per annum. The new rate beginning at 7.6 per cent is available on the purchase of a new car and is linked to a borrower's credit profile, it said. In addition to a reduced rate of interest, the bank is also offering borrowers zero prepayment/part-payment charges on floating rate car loans for individual borrowers, it said. Further, the interest on Baroda Car Loans - both fixed and floating loans - is calculated on the daily reducing balance method, making it even more affordable for borrowers, it said. Customers can also benefit from an extended repayment tenure of up to 84 months, providing enhanced financial flexibility, it added.
State-run Bank of Baroda on Friday reported a 4.39 per cent increase in consolidated net profit for the December quarter at Rs 5,443 crore, helped by lower provisions as net interest margin compression held back core income growth. On a standalone basis, its net profit grew to Rs 5,055 crore as against Rs 4,837 crore in the year-ago period. The core net interest income grew by just 0.1 per cent to Rs 11,800 crore despite a nearly 15 per cent growth in advances, as a 0.25 per cent compression in the net interest margin at 2.79 per cent held back the number. The bank's managing director and chief executive, Debadatta Chand, told reporters that the bank will likely achieve the upper-end of the 11-13 per cent loan growth guidance for FY26 and may also exceed it, and is aiming to widen the Net Interest Margin (NIM) to 2.90 per cent by the fourth quarter of this fiscal year. The non-interest income grew 6 per cent to Rs 3,600 crore during the reporting quarter. The retail segment led th
Bank of Baroda on Wednesday announced the signing of a pact with India Infrastructure Finance Company Ltd (IIFCL) to facilitate joint lending and loan syndication for a wide range of infrastructure projects. This partnership will accelerate the growth of key infrastructure projects being set up in India, the bank said in a statement. Under the agreement, IIFCL and Bank of Baroda will collaborate to jointly finance a diverse range of infrastructure projects. Palash Srivastava, Deputy Managing Director of IIFCL said that IIFCL is actively supporting national objectives by enabling long-term and sustainable financing for infrastructure, with a strong focus on green finance, MSMEs and rural infrastructure - thereby fostering inclusive and resilient economic growth. "Bank of Baroda has an extensive nationwide presence and this collaboration with IIFCL positions us well to extend our reach and deliver innovative financing solutions that will support India's infrastructure ambitions," Lal