Public Sector lender Bank of Baroda(BoB) on July 31 reported 9.5 percent rise in standalone net profit at Rs 4,458 crore for the quarter ended June 30, 2024. It reported standalone net profit of Rs 4,070 crore in the year-ago period.
On sequential basis, the bank's net profit fell 9 percent.
Gross non-performing assets (NPA) ratio stood at 2.88 percent as on June 30, as compared to 2.92 percent on March 31, 2024 and 3.51 percent on June 30, 2023.
Net NPA ratio stood at 0.69 percent as on June 30, as against 0.68 percent on March 31, 2024 and 0.78 percent on June 30, 2023.
In absolute terms, Gross NPA of the bank eased to Rs 30,873.14 crore as on June 30, as compared to Rs 31,833.63 crore as on March 31, and Rs 34,832.16 crore as on June 30, 2023.
Similarly, net NPA of the bank fell to Rs 7,231.53 crore as on June 30, as against Rs 7,213.34 crore as on March 31, and Rs 7,482.45 crore as on June 30, 2023.
The Provision Coverage Ratio of the Bank stood at 93.32 percent including TWO (Technical Write-off) and 76.58 percent excluding TWO in Q1 FY25, as per release.
Slippage ratio sequentially declined by 7 basis points (bps) to 1 .05 percent for Q1FY25 as against 1 .12 percent in Q4FY24.
In the reporting quarter, fresh slippages of the bank stood at Rs 2,787 crore. Majority of the slippages has came from MSME segment worth Rs 1,206 crore, which was followed by Rs 842 crore from retail and Rs 644 crore from agriculture.
Net Interest Income (NII) grew by 5.5 percent on-year to Rs 11,600 crore in Q1FY25. Non-Interest Income for the quarter stands at Rs 2,487 crore for Q1 FY25.
Global NIM stands at 3.18 percent in Q1 FY25. Domestic NIM of the bank stood at 3.30 percent and international NIMs at 2.23 percent in the first quarter of the current financial year.
In April-June quarter, global deposits of the bank grew to Rs 13.07 lakh crore, from around Rs 12 lakh crore in a year ago period. Global deposits were up 8.9 percent.
Domestic deposit rose 5.3 percent on-year to Rs 11.1 lakh crore, and international deposit jumped 34.7 percent on-year to Rs 2.02 lakh crore.
Global advances of the bank in April-June quarter jumped 8.1 percent on-year to Rs 10.72 lakh crore. In a year ago period, global advances stood at Rs 9.91 lakh crore.
In the global advances, retail advances grew 20.9 percent on-year to Rs 2.23 lakh crore.
Domestic CASA deposits registered a growth of 6 percent on-year and stands at Rs 4.49 lakh crore as of June 30, as per press release.
CRAR of the Bank stands at 16.82 percent in June quarter. Tier-I stood at 14.65 percent (CET-1 at 13.08 percent, AT1 at 1.57 percent) and Tier-II stood at 2.17 percent as of June quarter.
The CRAR and CET-1 of consolidated entity stands at 17.20 percent and 13.57 percent, respectively. Liquidity Coverage Ratio (LCR) of approximately 138 percent as on June 30.
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