Published
2 years agoon
Key Highlights
· Bank of Baroda (BOB) achieved a total business of INR 20,73,385 crore as of 31st December 2022, registering a growth of 18.5% YoY · Bank of Baroda (BOB) declares highest ever quarterly Net profit of INR 3,853 crore for Q3FY23 up by 75.4% YoY · Net profit in (9MFY23) stood at INR 9,334 crore registering a strong YoY growth of 69.9% · Net Interest Income (NII) grew by 26.5% & 24.2% for Q3FY23 & 9MFY23 respectively. · Operating profit grew by 50.1% YoY in Q3FY23 to INR 8,232 crore · Credit cost at a record low of 0.37% for Q3FY23 & 0.66% for 9MFY23 · Global Advances registered a strong YoY growth of 19.7% in Q3FY23 · Organic Retail Advances grew by 29.4%, led by growth in high focus areas such as Auto Loan (27.5%), Home Loan (19.6%), Personal Loan (169.6%), Mortgage Loan (20.5%), Education Loan (24.1%) · GNPA at 4.53% a reduction of 272 bps YoY and 78 bps QoQ · NNPA at 0.99% a reduction of 126 bps YoY and 17 bps QoQ · Provision coverage ratio (PCR) at a high of 92.34% with TWO & at 78.85% without TWO · Net Interest Margins (NIM) stands at 3.37% in Q3FY23 and 3.23% for 9MFY23, increase of 24 bps YoY for the quarter and 22 bps for 9M · Domestic NIM increases by 33 bps YoY to reach 3.54% for Q3FY23, it stands at 3.35% for 9MFY23, up by 27 bps YoY · Return on Assets (RoA) for 9MFY23 improves by 31 bps YoY to 0.93%; RoA for Q3FY23 improves by 39 bps YoY to 1.13% · Return on Equity (RoE) for 9MFY23 increases by 504 bps YoY to 17.02%; RoE for Q3FY23 increases by 671 bps YoY to 21.08% · LCR (consolidated) stands at 143.78% in Dec’22 · BOB is now India’s 2nd largest Public Sector Bank as per total business* |
*Total Business is a sum of total deposits and total advances
Business Performance
Profitability
Asset Quality
Capital Adequacy
Business position
Particulars (INR crore) | Dec 31 2021 | Sep 30, 2022 | Dec 31, 2022 | YoY (%) |
Domestic deposits | 8,76,555 | 9,58,967 | 10,03,737 | 14.5 |
Domestic CASA | 3,88,169 | 4,10,151 | 4,17,812 | 7.6 |
Global deposits | 9,78,034 | 10,90,172 | 11,49,507 | 17.5 |
Domestic advances | 6,54,315 | 7,16,737 | 7,60,249 | 16.2 |
Of which, retail loan portfolio (Organic) | 1,28,960 | 1,58,506 | 1,66,861 | 29.4 |
Global advances | 7,71,994 | 8,73,496 | 9,23,878 | 19.7 |
NIM Global % | 3.13 | 3.33 | 3.37 | 24 bps |
Financial result for Quarter ended 31st December 2022
Particulars (INR crore) | Q3FY22 | Q2FY23 | Q3FY23 | YoY(%) |
Interest Income | 17,963 | 21,254 | 23,540 | 31.0 |
Interest Expenses | 9,411 | 11,080 | 12,722 | 35.2 |
Fee Income | 1,407 | 1,515 | 1,539 | 9.4 |
Net Interest Income (NII) | 8,552 | 10,174 | 10,818 | 26.5 |
Operating Income | 11,071 | 12,000 | 14,370 | 29.8 |
Operating Expenses | 5,588 | 5,969 | 6,138 | 9.8 |
Operating Profit | 5,483 | 6,031 | 8,232 | 50.1 |
Total Provisions (other than tax) and contingencies | 2,506 | 1,628 | 2,404 | -4.1 |
of which, Provision for NPA Bad Debts Written-off | 4,283 | 1,654 | 817 | -80.9 |
Profit before Tax | 2,976 | 4,403 | 5,828 | 95.8 |
Provision for Tax | 779 | 1,090 | 1,976 | — |
Net Profit | 2,197 | 3,313 | 3,853 | 75.4 |
Key Ratios
Particulars | Dec 31 2021 | Sep 30, 2022 | Dec 31, 2022 |
CRAR (%) | 15.47 | 15.25 | 14.93 |
Tier-1 (%) | 13.24 | 12.81 | 12.62 |
CET-1 (%) | 11.3 | 10.95 | 10.83 |
Gross NPA (%) | 7.25 | 5.31 | 4.53 |
Net NPA (%) | 2.25 | 1.16 | 0.99 |
PCR (with TWO) (%) | 85.95 | 91.73 | 92.34 |
Bank of Baroda announces Financial Results for the Quarter ended 30th June 2024
Bank of Baroda Marks its 117th Foundation Day with the launch of Breakthrough Digital & Technology-led Initiatives
Bank of Baroda launches bob Monsoon Dhamaka Deposit Scheme offering higher interest rates
Bank of Baroda raises Rs. 5,000 Crores at a coupon of 7.57% p.a. through the issuance of Long-Term Infrastructure Bonds
Bank of Baroda emerges as the fastest to issue 1,000 Electronic Bank Guarantees on the NeSL Platform
Bank of Baroda Launches the NCMC RuPay Prepaid Card for Seamless Payments across Public Transport, Tolls, Parking and Shopping