Page 15 - Bank Of Baroda

RBI-MPC may lower inflation forecast marginally: BoB Chief Economist

The consumer price index (CPI) inflation moderated in April-23 to 4.70 per cent year-on-year (YoY) and remained within the RBI's target range (2-6 per cent) for the second consecutive month

Bank of Baroda board approves raising Rs 5,000 crore by March 2024

The capital will be raised when the market is conducive, the bank said

BOB Financial opens up its entire RuPay Credit Card base for linking on UPI

BoB Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM and other UPI-enabled Apps, BOB Financial Solutions Ltd (BFSL) said on Wednesday. BFSL is a wholly owned subsidiary of Bank of Baroda, and National Payments Corporation of India (NPCI). This enablement would open doors for Bank of Baroda RuPay Credit Card users to transact across all the merchant outlets with QR codes and POS devices in the country backed by convenience and security assurance of UPI, a joint statement said. Credit Card on UPI gives our customers access to the ease and convenience of transacting on UPI while they continue to enjoy the benefits of a credit card, BoB managing director Sanjiv Chadha said. BoB RuPay credit card customers can now directly link their credit cards with the UPI applications of their choice, such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik and PayZapp. "And they do not even have to carry the card with them. With this launch, we expect a significant rise

Bank of Baroda aims at 12-15% credit growth in FY23: Executive director

State-owned Bank of Baroda (BoB) on Monday said it expects 12-15 per cent credit growth during the current financial year. During the last financial the bank recorded a credit growth of 16 per cent. "We aim at credit growth of 12-15 per cent while deposits are expected to grow at 12-13 per cent," BoB executive director Lalit Tyagi said on the sidelines of 'Bank of Baroda Rashtrabhasha Samman' Awards 2023 here. The bank is using a digital platform for customer acquisition, he added. The award has been instituted to recognise and promote literary works in various Indian languages (included under the 8th Schedule of the Constitution) as well as to make the best Indian literature available to Hindi readers through translations, thereby broadening the interest and making the novels accessible to a larger set of readers, he noted.

Public sector banks' total dividend payout 58% higher than in FY22: Report

Three out of 12 PSBs namely SBI, Bank of Baroda, and Canara Bank, declared a three-digit dividend during the year

Analysts raise target on Bank of Baroda post Q4, see up to 29% upside

Bank of Baroda Q4 result review: Bank of Baroda's net profit grew 168 per cent year-on-year (YoY) at Rs 4,775 crore for the quarter ended March 2023

Bank of Baroda 'well protected' for switch to RBI's new loan-loss proposal

Its gross non-performing assets (NPA) ratio fell to 3.79% in the fourth quarter from 4.53% in the previous quarter, while its net NPA ratio fell to 0.89% from 0.99% for the same period

Doors not shut for funding airlines; strong players creditworthy: BoB CEO

The share of retail deposits would rise and help keep net interest margins intact, Sanjiv Chadha, managing director and chief executive of Bank of Baroda, says

Bank of Baroda makes Rs 500 crore provision for Go First exposure

Out of this exposure, about Rs 1,000 crore is collateralised by tangible securities and by way of corporate guarantees

Sensex sheds 413 pts as HDFC twins, RIL weigh; Nifty ends below 18,300

CLOSING BELL: The BSE Midcap, Smallcap indices, however, bucked the trend and ended with a gain of up to 0.2 per cent. Breadth too was marginally positive.

Bank of Baroda Q4 net profit up 168% at Rs 4,775 cr on healthy NII

Public sector lender recommends dividend of Rs 5.5 per share for face value of Rs 10 each

Bank of Baroda Q4 preview: PAT may soar up to 2x YoY on healthy loan growth

Bank of Baroda Q4FY23 results preview: Analysts expect Bank of Baroda's financial performance to weaken on a quarter-on-quarter (QoQ) basis, due to lower interest income

Bank of Baroda launches electronic bank guarantee on its digital platform

State-owned Bank of Baroda on Wednesday announced the launch of electronic bank guarantee (e-BG) on its BarodaINSTA platform, in partnership with National E-Governance Services Limited (NeSL). NeSL is India's first and only Information Utility and is regulated by the Insolvency and Bankruptcy Board of India (IBBI) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). With this launch, Bank of Baroda said it has joined a select group of banks to issue electronic bank guarantees. Electronic bank guarantee is a start-to-end digital process across the complete lifecycle of a BG including issuance, amendment and closure resulting in substantial reduction in the turnaround time in issuing a BG, while at the same time bringing in greater security and accessibility. The conventional paper-based process of issuing inland Bank Guarantees normally takes a few days to execute from BG issuance to receipt by the beneficiary, the lender said. Further in the absence of a central

Govt appoints Rajneesh Karnatak as BoI MD, Debadatta Chand to head BoB

The government on Saturday appointed Rajneesh Karnatak as managing director of Bank of India (BoI) while Debadatta Chand as head of Bank of Baroda (BoB). The central government appoints Karnatak, Executive Director, Union Bank of India, as managing director and CEO of Bank of India for three year with effect from date of assumption of office, Department of Financial Services said in a notification. Karnatak replaces Atanu Kumar Das who completed his three-year term in January this year. In a separate notification, DFS said Chand, currently ED of BoB, has been appointed as managing director of the same bank for a period of three years. However, Chand would assume charge on July 1 after incumbent Sanjiv Chadha superannuates on June 30. The notifications for the two appointments came after the approval of the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi. The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned ba

PSBs extend gains on hopes of firm Q4; Nifty PSB index zooms 13% in 1 month

Among the individual stocks, Indian Bank and Uco Bank were up 3 per cent, Bank of Baroda, Indian Overseas Bank, Central Bank of India, Canara Bank and State Bank of India were up 2 per cent on the NSE

HDFC Securities picks two stocks with bullish breakout patterns; Check here

The stock of Bank of Baroda is on the verge of breaking out from the symmetrical triangle

PSU Bank index soars 3% on BoB's strong biz update, SBI fund raising plan

In Q4, the operational performance was expected to remain positive across lenders with PSU banks seen delivering continued strong earning trajectory.

At 19%, BoB's loans grew faster than overall banking system in FY23

The lender's deposit growth at 15.1% YoY was also higher than the banking average

Bank of Baroda stops clearing payment for above-cap Russian oil: Report

The state-run lender told refiners last month that it would not settle payment from Russian barrels bought above the price cap, the three sources said

Nainital Bank raises Rs 100 cr via rights issue to meet future requirements

Nainital Bank, a subsidiary of public sector lender Bank of Baroda (BoB), on Monday said it has raised around Rs 100 crore through a rights issue to meet future capital requirements. BoB holds 98.57 per cent stake in Nainital Bank. The amount was raised on March 29, 2023, Nainital Bank said in a statement. Nainital Bank has a presence in Uttarakhand, Uttar Pradesh, Delhi & NCR, Rajasthan and Haryana with 168 branches, it said. The bank's business touched the Rs 12,305-crore mark as on March 31, 2023. Net NPA stood at 2.50 per cent, Provision Coverage Ratio at 80 per cent and Capital to Risk Assets Ratio (CRAR) at 16 per cent as per latest figures (unaudited), it said. The board of BoB in December approved a proposal to sell its majority stake in Nainital Bank. Mumbai-based BoB had taken over Nainital Bank in 1973 on the directions of the Reserve Bank of India.