Bank of Baroda(BoB) Q2 result: Profit jumps 23%; NII grows 7.3% YoY


On October 25, PSU lender Bank of Baroda Ltd. announced a 23% increase in net profit for the quarter that ended on September 30, 2024, totaling Rs 5,238 crore. In the previous year, it declared a net profit of Rs 4,253 crore. 


In Q2FY25, the lender's overall income increased by 11% to Rs 35,445 crore from Rs 32,033 crore in Q2FY24. In Q2FY25, the lender's net interest income increased by 7% to Rs 11,622 crore from Rs 10,831 crore in the same time last year. 


The bank's non-interest revenue increased by 24.2 percent year over year to Rs 5,181 crore during the reporting quarter, from Rs 4,171 crore during the same time last year..


Global deposits of the jumped 9.1 percent in the second quarter of the current financial year to Rs 13.64 lakh crore. In the similar quarter last year, global deposits stood at 12.5 lakh crore.

Of the global deposit, domestic deposits which have a highest share increased by 7.1 percent on-year to Rs 11.51 lakh crore, from Rs 10.74 lakh crore. Whereas, international deposits jumped sharply by 21.2 percent on-year to Rs  2.12 lakh crore.


The domestic cost of deposits of the bank have increased in the reporting quarter to 5.16 percent, as compared to 5.13 percent in a quarter ago period, and 4.99 percent in a year ago period.


International cost of deposits have also seen a sharp increase on a yearly as well as on domestic basis. International cost of deposits stood at 4.84 percent in July-September quarter, as compared to 4.66 percent in a quarter ago period and 4.45 percent in a year ago period.


Global advances of the bank increased 11.6 percent to Rs 11.43 lakh crore in the second quarter of the current financial year.


Retail advances (organic) grew 19.9 percent on-year to Rs 2.32 lakh crore in July-September quarter, from Rs 1.94 lakh crore. Domestic gross advances rose 12.5 percent on-year to Rs 9.39 crore in Q2FY25.


International Advances of the lender increased by 7.6 percent on-year to Rs 2.04 lakh crore.

Yield on advances on global advances have seen a moderation on a quarterly basis to 8.48 percent in July-September quarter, from 8.55 percent in April-June quarter. However, it has increased on a yearly basis.


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