Business
Bank of Baroda announces Financial Results for the Quarter ended 30th June 2024
Published
2 months agoon
Key Highlights
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Profitability
- BOB reported a standalone Net Profit of INR 4,458 crore in Q1FY25 as against a profit of INR 4,070 crore in Q1FY24.
- Net Interest Income (NII) grew by 5.5% YoY to INR 11,600 crore in Q1FY25.
- Non-Interest Income for the quarter stands at INR 2,487 crore for Q1FY25.
- Global NIM stands at 3.18% in Q1FY25.
- Yield on Advances increased to 8.55% in Q1FY25 as against 8.40% in Q1FY24.
- Cost of Deposits remained stable sequentially at 5.06% and increased by 38 bps YoY as against 4.68% in Q1FY24.
- Operating Income for Q1FY25 stands at INR 14,087 crore.
- Operating Profit for Q1FY25 stands at INR 7,161 crore.
- Cost to Income ratio stands at 49.17% for Q1FY25.
- Return on Assets (annualised) improved by 2 bps YoY and stands at 1.13% for Q1FY25.
- Return on Equity (annualised) for Q1FY25 stands at 17.45%.
- For the consolidated entity, Net Profit stood at INR 4,728 crore in Q1FY25 as against INR 4,452 crore in Q1FY24.
Asset Quality
- The Gross NPA of the Bank reduced by 11.4% YoY to INR 30,873 crore in Q1FY25 and Gross NPA Ratio improved to 2.88% in Q1FY25 from 3.51% in Q1FY24.
- The Net NPA Ratio of the Bank stands at 0.69% in Q1FY25 as compared with 0.78% in Q1FY24.
- The Provision Coverage Ratio of the Bank stood at 93.32% including TWO and 76.58% excluding TWO in Q1FY25.
- Slippage ratio sequentially declined by 7 bps to 1.05% for Q1FY25 as against 1.12% in Q4FY24.
- Credit cost stands at 0.47% for Q1FY25.
Capital Adequacy
- CRAR of the Bank stands at 16.82% in Jun’24. Tier-I stood at 14.65% (CET-1 at 13.08%, AT1 at 1.57%) and Tier-II stood at 2.17% as of Jun’24.
- The CRAR and CET-1 of consolidated entity stands at 17.20% and 13.57% respectively
- Liquidity Coverage Ratio (LCR) of approx. 138% as on 30th June 2024
Business Performance
- Global Advances of the Bank increased to INR 10,71,681 crore, +8.1% YoY.
- Domestic Advances of the Bank increased to INR 8,81,785 crore, +8.5% YoY.
- Global Deposits increased by 8.9% YoY to INR 13,06,994 crore.
- Domestic Deposits increased by 5.3% YoY to INR 11,05,460 crore in Jun’24.
- Domestic CASA deposits registered a growth of 6% YoY and stands at INR 4,49,019 crore as of 30th June 2024.
- International Deposits grew by 34.7% on a YoY basis to INR 2,01,534 crore in Jun’24.
- Organic Retail Advances grew by 20.9%, led by strong growth across segments such as Auto Loan (25.1%), Home Loan (14.7%), Personal Loan (39.2%), Mortgage Loan (11%), Education Loan (18.8%) on a YoY basis.
- Agriculture loan portfolio grew by 9.1% YoY to INR 1,39,160 crore.
- Total Gold loan portfolio (including retail and agri.) stands at INR 48,909 crore, registering a growth of 20.3% on a YoY basis.
- Organic MSME portfolio grew by 9.8% YoY to INR 1,19,940 crore.
- Corporate advances registered a growth of 2.5% YoY and stands at INR 3,55,375 crore.
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