State-owned Bank of Baroda (BoB) believes margins could improve during the current financial year (2022-23, or FY23) as interest rates normalise. SANJIV CHADHA, managing director and chief executive officer, BoB, in conversation with Manojit Saha, says credit costs will continue to taper off, improving profitability. Edited excerpts:
BoB has reported 18 per cent growth in global advances in the first quarter (Q1) — higher than the industry. Will that trend persist in the second quarter?
We are seeing strengthening in terms of growth trends. Growth is likely to be better than last year. However, it is equally important to remember that Q1 of last year was unnaturally depressed due to the second wave of the pandemic. We can see some moderation