Bank of Baroda domestic advances grow 13% YoY in Q4 FY24

The public sector bank reported 12.80% rise in domestic advances to Rs 8,97,366 crore as on 31 March 2024 from Rs 7,95,560 crore as on 31 March 2023.

Domestic deposits stood at Rs 11,28,523 crore as on 31 March 2024, registering a growth of 7.75% year on year.

Domestic retail advances was at Rs 2,14,792 crore as on 31 March 2024, up 20.64% as against Rs 1,78,037 crore as on 31 March 2023.

The global business grew 11.20% to Rs 24,16,741 crore as on 31 March 2024 as compared to Rs 21,73,236 crore recorded in the same period a year ago.

 

Global deposits was at Rs 13,26,919 crore (up 10.24% YoY) and global advances stood at Rs 10,89,822 crore (up 12.41% YoY) as on 31 March 2024.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,211 branches and 11,030 ATMs and cash recyclers supported by self-service channels. The bank has a significant international presence with a network of 92 overseas offices spanning 17 countries. As of 31 December 2023, Government of India held 63.97% stake in the bank.

The PSU banks standalone net profit jumped 18.8% to Rs 4,579 crore in Q3 FY24 as compared with Rs 3,853 crore in Q3 FY23. Total income jumped 15.96% YoY to Rs 31,415.62 crore in Q3 FY24.

The scrip rose 0.67% to Rs 270.50 on the BSE.

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