Page 7 - Bank Of Baroda

Bank of Baroda Q4 results: Net profit rises 2.3% to Rs 4,886 crore

State-owned Bank of Baroda (BoB) on Friday posted a marginal 2.3 per cent rise in net profit at Rs 4,886 crore for the fourth quarter ended March 2024. The bank had earned a net profit of Rs 4,775 crore in the January-March quarter a year ago. The total income increased to Rs 33,775 crore during the quarter under review, as against Rs 29,323 crore in the same period last year, BoB said in a regulatory filing. Interest income grew to Rs 29,583 crore during the latest three-month period from Rs 25,857 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 2.92 per cent of gross advances as of March 31, 2024, from 3.79 per cent at the end of March 2023. Net NPAs also declined to 0.68 per cent of the advances, from 0.89 per cent at the end of 2023. As a result, provisions for bad loans and contingencies eased to Rs 1,302 crore, as against Rs 1,421 crore earmarked during the same quarter a year ago. The Pro

Why did RBI lift ban on Bank of Baroda's mobile app and what does it mean?

he RBI, which regulates India's banking system, found "material supervisory concerns" with Bank of Baroda's customer onboarding process for bob World.

Bank of Baroda Q4 preview: Analysts see dip in profit amid soft loan growth

Bank of Baroda Q4 results preview: Bank of Baroda, which posted a net profit of Rs 4,775.3 crore in the corresponding quarter of the previous fiscal (Q4FY23), may report up to 8 per cent year-on-year

Tata Power, L&T, BoB, VI, and TVS Motor among six stocks to track on May 9

Stocks to watch on Thursday, May 9: inancial services company Citigroup on Wednesday sold shares of telecom company Vodafone Idea for over Rs 233 crore through an open market transaction

Pre-market report: Nifty weekly expiry, PSBs, OMCs on investors radar today

All you need to know before the market opens on Thursday, May 09: Stock specific action likely to dominate trading sentiment today. Check key levels for the Nifty and Bank Nifty by market experts here

RBI removes restrictions on BoB app, allows new customer enrollment

Bank will now on-board customers through mobile app

RBI lifts curb on boarding of new customers on Bob World app after 6 months

The RBI had imposed restriction on state-owned Bank of Baroda (BoB) on October 10, 2023 from onboarding new customers on its mobile app 'Bob World'

Premji Invest inches closer to majority stake acquisition in Nainital Bank

Bank of Baroda, a public sector lender and the majority shareholder holding around 98% of Nainital Bank, is expected to divest its entire stake

BoB World app scam: How FinMin plans to deal with financial frauds

The finance ministry proposes an enhanced KYC procedure and extensive due diligence by banks and financial institutions for onboarding merchants to safeguard customers against cyber risks

Election season may hit govt capital expenditure spending, FDI inflows

In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

Stocks to Watch today: TCS, Bharti Hexacom, PVR Inox, BoB, Vodafone Idea

Stocks to watch on Friday, April 12, 2024: TCS to announce March quarter results today; likely to set the tone for the IT sector; Bharti Hexacom to debut.

Bank of Baroda hikes lending rates by 5 basis points across three tenures

The one-year MCLR has risen to 8.85%, while the six-month and three-month MCLR rates have been increased to 8.65% and 8.45%, respectively

PNB reports 11.5% loan growth in quarter ending March, BoB's up by 12.4%

State-owned Punjab National Bank (PNB) on Friday said it has posted a credit growth of 11.5 per cent at Rs 9.85 lakh crore for the March quarter. Total advances were Rs 8.84 lakh crore at the end of March 31, 2023, PNB said in a regulatory filing. The lender reported a 7 per cent increase in total deposits to Rs 13.70 lakh crore as against Rs 12.81 lakh crore at the end of the fourth quarter of the previous financial year. Total business of the bank rose 8.8 per cent to Rs 23.56 lakh crore as compared to Rs 21.65 lakh crore at the end of March 31, 2023. The Credit Deposit (CD) ratio increased to 72 per cent at the end of March 31, 2024 as against 69.1 per cent in the year-ago period. Another public sector lender Bank of India reported a credit growth of 13.56 per cent at Rs 5.86 lakh crore for the March quarter. The outstanding credit was Rs 5.15 lakh crore at the end of March 31, 2023, Bank of India said in a separate regulatory filing. The total deposit of the bank rose 10.20

India's Apr-Feb fiscal deficit at Rs 15.01 trn, hits 86.5% of FY24 target

The Centre's fiscal deficit is estimated at Rs 17.34 trillion for FY24

Bank of Baroda wins co-branding rights for three Delhi Metro stations

State-owned Bank of Baroda (BoB) on Tuesday announced that it has acquired the co-branding rights for three stations of Delhi Metro. These stations are Inderlok, South Extension and Rajouri Garden. Delhi Metro Rail Corporation (DMRC) awarded the naming rights to the bank for a period of 10 years, beginning from 2024, BoB said in a statement. In addition to the exclusive co-branding rights, the bank will get a dedicated space for branding, display of products and installation of an ATM/Digital Banking Unit (DBU)/ kiosk to serve customers, it said. Meanwhile, the bank's executive director Ajay K Khurana inaugurated the new station branding at Inderlok Metro station. The Delhi Metro is India's largest and busiest metro rail system with daily ridership of more than 60 lakh, it claimed.

Bank of Baroda launches green term deposit scheme with 7.15% interest

The scheme offers annual interest rates, ranging from 6.75% for a tenure of 12 to 18 months to 7.15% for 777 days

BoB announces special offers for female account holders on Women's Day

State-owned Bank of Baroda on Thursday announced special offers for its women account holders on the occasion of International Women's Day. International Women's Day is celebrated on March 8. This offer is applicable for accounts, either a BoB Mahila Shakti Savings Account or a BoB Women Power Current Account, opened till June 30, 2024, and loan facilities availed till December 31, 2024, Bank of Baroda (BoB) said in a statement. These women-centric accounts come with a bundle of offers exclusively for women, including up to 25 basis points interest rate concession on retail loans (concession of 0.25 per cent on two-wheeler loans, 0.15 per cent on education loans, 0.10 per cent on auto loans, home loans and mortgage loan). Besides, there would be a complete waiver of processing charges on retail loans (including personal loans) and a 50 per cent discount on annual safe deposit locker charges, it said. "On this International Women's Day, we are pleased to extend our support to women

Axis Bank set to tap infrastructure bond market after 2 years: Report

Infrastructure bonds are issued to finance long-term development projects

Bank of Baroda reduces floating rate car loan by 65 basis points to 8.75%

The Mumbai-based public sector lender also offers a fixed rate of interest option on Baroda Car Loans, starting at 8.85 per cent per annum

CBI court convicts Bank of Baroda manager after 27 years of chargesheet

A special CBI court in Mumbai has convicted a manager of the Bank of Baroda in two separate cases after 27 years of charge sheet for causing a total loss of over Rs 15 crore to the bank, officials said on Monday. The CBI had charge-sheeted Ramchandra Shridhar Joshi, then Chief Manager posted in Walkeshwar Road Branch, Mumbai, in 1996 in two cases -- for causing loss of Rs 10.50 crore and Rs five crore -- by fraudulently diverting bank's money to accused conspirators, the agency said in a statement. The central probe agency had taken over the probe in 1994 and had filed a charge sheet in both cases in 1996, it said. After the completion of the trial, the special CBI court sentenced him to under two years rigorous imprisonment with a fine of Rs three lakh in the first case and one year imprisonment with a fine of Rs 1.37 lakh in the second case. "The case against two charge sheeted accused was abated due to their death during trial while another accused was discharged," a CBI ...