State-owned Bank of Baroda (BoB) on Wednesday posted a 19 per cent increase in profit at Rs 4,579 crore for third quarter ended December 2023. The bank had earned a net profit of Rs 3,853 crore in the same quarter a year ago. Total income increased to Rs 31,416 crore during the quarter under review from Rs 27,092 crore in the same period last year, BoB said in a regulatory filing. Interest income of the bank rose to Rs 28,605 crore from Rs 23,540 crore in the third quarter of previous fiscal. Gross Non-Performing Assets (NPAs) of the bank declined to 3.08 per cent of gross loans by the end of December 2023 from 4.53 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.70 per cent from 0.99 per cent at the end of third quarter of the previous fiscal. However, Capital Adequacy Ratio of the bank moderated to 14.72 per cent as against 14.93 per cent at the end of December 2022. During December quarter FY24, the bank made a contingent provision of Rs 50.49 crore in re
Bank of Baroda news: Higher cost of deposits could put pressure on net interest margins, brokerages pointed out in their result preview report.
Bank of Baroda Q2 preview: Analysts expect net profit to come in anywhere between Rs 3,484.4 crore (up 5.2 per cent Y-o-Y) and Rs 4,178.9 crore (up 26 per cent Y-o-Y)
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Provisions of the lender declined 41 per cent YoY to Rs 1,628 crore in Q2FY23.
Broadly the trend we have seen is that retail is growing faster than corporate loans, said Chadha
FIIs' favorite names and heavyweights like HDFC twins, ICICI Bank, Infosys, Kotak Bank, and Reliance Industries saw sharp cuts
Asset quality of the bank improved both sequentially and on a YoY basis; provisions of the lender fell over 27% to Rs 2,506 cr
Non-interest income grew by 23 per cent to Rs 3,579 crore in Q2FY22 from Rs 2,910 crore in Q2FY21 a year ago
Net interest income rises 2% to Rs 7,566 cr
The state-owned lender, which had reported net loss of Rs 864 crore in Q1FY21 and Rs 1,046.5 crore in Q4FY21, is expected to report up to Rs 1,633.3 crore-net profit on Saturday, August 7
The Bank's gross non-performing assets (NPAs) rose sequentially to 8.87 per cent in Q4FY21
Maintaining an optimistic view relative to the previous two brokerages, Motilal Oswal expects BoB's net profit to grow 82.6 per cent YoY to Rs 925 crore on the back of a sharp decline in provisions
HSBC pegs Bank of Baroda's Q3FY21 net profit at Rs 164.1 crore, a staggering 90 per cent de-growth from September quarter's PAT of Rs 1,678.6 crore
Net interest income rose almost 7 per cent to Rs 7,508 crore, compared to Rs 7,028 crore in Q2Fy20
Analysts foresee the bank reporting sluggish business growth in Q1 on the back of Covid-19 induced nationwide lockdown
BoB's new managing director and chief executive Sanjiv Chadha tells Business Standard that while the bank has a comfortable capital base to grow he would prefer to visit the market
The bank, which is slated to report its Q3FY20 numbers later today, is expected to report a nearly 300 per cent rise in the net profit at Rs 1,851 crore on a year-on-year (YoY) basis.
Total income rose to Rs 22,097.91 crore for the second quarter of 2019-20, compared with Rs 13,429.95 crore a year ago
The bank, which got merged with Vijaya Bank and Dena Bank, posted a standalone profit of Rs 425.4 crore in the corresponding quarter of the previous fiscal (Q2FY19)