Page 14 - Bank Of Baroda

Stocks to Watch today, Aug 07: Yatharth, TD Power, RIL, BoB, GNFC, Zen Tech

Stocks to watch on August 07, 2023: Shares of consumer discretionary such as Dixon Tech and Amber Enterprises are expected to be in focus after government relaxed curbs on laptop imports.

Bank of Baroda Q1FY24 proft rises 87.7% on growth in net interest income

The non-interest income almost tripled YoY to Rs 3,322 crore. Sequentially, it was down from Rs 3,466 crore in Q4FY2

Bank of Baroda to report Q1FY24 results on Aug 5; here's what to expect

Bank of Baroda Q1FY24 results preview: Analysts expect growth in personal loan book to remain robust, taking the total loan book to Rs 9.61 trillion

Erratic rainfall may lead to higher inflation in near term: BoB research

Economics research department of Bank of Baroda (BoB) said that erratic rainfall across the country has resulted in lower 'kharif' sowing this year which is likely to translate into higher inflation in the near term. A report prepared by the department said that rainfall has been six per cent above the long-period average (LPA) till July 30. However, the Eastern and North Eastern region received lower precipitation, while the North Western region recorded higher rainfall. This has resulted in lower 'kharif' sowing this year with pulses registering much lower as compared to last year. "This is expected to translate into a higher inflation in the near term, as IMD expects El Nino conditions will develop in the middle of the monsoon period", the report said. 'Kharif' season is the sowing season from June to the end of October. The country's CPI inflation rate rose to a three-month high of 4.81 per cent, with WPI inflation at 4.12 per cent. The RBI Governor-led six-member monetary p

Digital push minus customers' safety

The bank is apparently working on a clean-up, but that is not enough. The regulator is also investigating the case, but what will come of it?

Make hay while the sun shines

It's time for the government, the majority owner of public-sector banks, to reap the benefit of the rally in bank stocks

Power sector lender REC set to raise $1 bn via loans to fund infra projects

The state-owned company's fundraising via external commercial borrowing is split in two tranches, with the first expected to close this month amounting to $505 million

Bank of Baroda's new chief looks to reduce cost-to-income ratio to 40%

The lower the C/I ratio, the higher the efficiency and profitability of a bank

IIFL Finance raised $175 million in June from HSBC, Union Bank and BoB

With a borrowing of $100 million in March, the total borrowing in 2023-24 (FY24) so far has reached $275 million

Bank of Baroda to divest 49% in credit card arm BOB Financial Solutions

State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd. Currently, it is 100 per cent owned by BoB. The bank has floated a Request for Proposal for roping in a strategic investor, and the process is expected to complete in one year, a senior bank official said. BOB intends to offload up to 49 per cent in a combination of primary and secondary capital from one or multiple investors to create more value in BOB Financial Solutions and take it to the next level of growth, the official said. BOB Financial doubled the acquisition of new credit cards in FY23 by issuing close to 1.2 million credit cards compared to 0.5 million a year ago. "Retail spends too more than doubled compared to FY 2022, clocking approximately Rs 17,300 crore (compared to Rs 7,000 crore in FY 2022)," BoB said in its annual report. At the same time, the net profit of the NBFC also more than doubled to Rs 24.62 crore against Rs 10.07 crore in t

Lenders set to clear Rs 400 crore to bring Go First back on runway

Go First plans to operate around 150 daily flights with 22 aircraft. The airline also plans to operate charter flights for defence forces in the initial phase

Bank of Baroda nears 52-wk high, up 3%; regains Rs 1 trillion m-cap

Analysts at ICICI Securities believe the bank will report credit growth in line with industry growth coupled with healthy margins and steady asset quality and, thus, aid RoA of around 1 per cent.

Profit trajectory to continue despite ECL regime impact: BoB MD & CEO

'Our loans grew 18.5 per cent last year, which is above the market'

PNB, LIC, SBI and BoB looking to seek formal bids for stake sale in UTI AMC

These entities have already appointed merchant bankers to initiate the sale process in UTI AMC

BoB receives Rs 10,000 crore via Rs 2,000 note deposits, exchange

The senior official on Sunday told Business standard that his bank had received around Rs 9,000 crore worth of Rs 2,000 currency notes as deposits

Stellar show by banks, but will it continue?

There are challenges ahead. It won't be easy for the banking sector to put up a better performance every quarter

Nearly 80% Indians depositing Rs 2,000 notes instead of exchanging: Report

Back in May 2023, the central bank said that it would withdraw Rs 2,000 notes from circulation and allowed people to exchange or deposit these notes latest by September 30, 2023

Stocks to Watch today, June 7: Adani Green, Mazagon Dock, Torrent Power

Stocks to Watch today, June 7, 2023: Tata Power, Uniparts India, Seshasayee Paper, Marksans Pharma will turn ex-dividend on Wednesday

HC refuses to interfere with BoB's decision inviting EoI for NBL stake sale

The Delhi High Court has refused to interfere with the "expression of interest (EoI)" invited by Bank of Baroda (BoB) for acquisition of its stake in Nainital Bank Limited (NBL). Justice Purushaindra Kumar Kaurav dismissed a petition by the Nainital Bank Officers Association and said BoB's divestment decision was not arbitrary or illegal, and there was no "clear violation" of any statutory provisions in the process. The judge, in an order passed on May 2, said divestment is a policy decision involving complex economic factors, and courts have consistently refrained from interfering with economic decisions. "This court, therefore, at this stage, is not inclined to interfere with the impugned advertisement of EoI. However, it would be open to the petitioner to raise any grievance at an appropriate stage in accordance with the law, if so necessitated," the court ordered. "It is thus seen that in the instant case, in the absence of there being a clear violation of any statutory provisi

Bank of Baroda launches cash withdrawal facility via UPI on its ATMs

Bank of Baroda on Monday announced launch of Interoperable Cardless Cash Withdrawal (ICCW) facility wherein a customer can withdraw cash using UPI from the bank's ATMs. "The first public sector bank to launch this service, Bank of Baroda customers as well as customers of other participating issuer banks that use BHIM UPI, bob World UPI or any other UPI application enabled for ICCW on their mobile phone can withdraw cash from a Bank of Baroda ATM without using their debit card," the lender said. On selecting the option 'UPI Cash Withdrawal' at a Bank of Baroda ATM, the customer needs to enter the withdrawal amount, post which a QR code is displayed on the ATM screen. Explaining the process, the lender said the customer will scan the QR code using a UPI app enabled for ICCW and then authorise the transaction with her/his UPI PIN on the mobile phone to withdraw the cash from the ATM. If multiple bank accounts are linked to a single UPI ID, ICCW functionality gives customers the option