Bank Of Baroda Q1FY23 Results : Gross NPA at ₹52,590.8 Cr, 6.26% and PAT falls 4.3% to ₹1,943 Cr QOQ

❖ The Gross NPA of the Bank reduced to INR 52,591 crore in 01 FY23 from the level of INR 66,671 crore in 01 FY22 and Gross NPA Ratio improved to 6.26% in 01 FY23 from 8.86% in 01FY22. ❖ The Net NPA Ratio of the Bank improved to 1.58% in Q1 FY23 as compared with 3.03% in Q1FY22. ❖ The Provision Coverage Ratio of the Bank stood at 89.38% including TWO and 75.94% excluding TWO in 01 FY23. ❖Net Interest Income grew by 12% to INR 8,838 crore in Q1FY23 Cost of Deposits reduced to 3.46% in Q1FY23 as against 3.55% in Q1FY22.

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Bank of Baroda (BOB or BoB) is an Indian nationalized banking and financial services company headquartered in Vadodara. It is the third largest nationalised bank in India, with 132 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices.

The Bank has posted its Q1FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

The Bank has reported, a consolidated Total Income of ₹21.576.76 crore in the quarter ended on June 30, 2022 as against ₹22.470.46 crore in the last quarter ended on Mar 31, 2022, decreased by 3.97%.

The Bank has posted a consolidated Net Profit of ₹1,943.90 crore in the quarter ended on March 31, 2022 as against ₹2,031.55 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 4.31%.

The status of the EPS of the Bank stood at ₹3.76 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹3.93, down by 4.32%.

₹*June 30, 2022 (Q1FY23)Mar 31, 2022 (Q4FY22)
Total Income21.576.7622.470.46
Total Expenses17294.0116145.43
PBT /(Loss)2871.492010.05
Total Tax /(credit)732.10121.91
PAT /(Loss) [to the owners]1,943.902,031.55
*figures are in Crores
bank of baroda q1 fy23 result – market times

(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The Bank has reported, a consolidated Total Income of ₹21.576.76 crore in the financial year ended on June 30, 2022 as against ₹21,237.98 crore for the same quarter ended on last year June 30, 2021 that slightly increased by 1.65%.

The Bank has posted a consolidated Net Profit of ₹1,943.90 crore in the financial year ended on June 30, 2022 as against ₹1,186.54 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 63.82%.

The status of the EPS of the Bank stood at ₹3.76 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹2.29, up by 64.19%.

₹*June 30, 2022 (Q1FY23)June 30, 2021 (Q1FY22)
Total Income21,576.7621,237.98
Total Expenses17294.0115250.06
PBT /(Loss)2871.491610.82
Total Tax /(credit)732.10441.62
PAT /(Loss) [to the owners]1,943.901,186.54
*figures are in Crores

(III) Key Highlights about the Performance :

Bank of Baroda Business Performance :
❖ Global Advances of the Bank increased to INR 8,39,785 crore, up by 18% YoY.
❖ Domestic Advances of the Bank increased to INR 6,95,493 crore, increased by 15. 7% YoY.
❖ Global Deposits increased by 10.9% YoY to INR 10,32,714 crore. Domestic Deposits increased by 8.5% YoY to INR 9,09,095 crore in Jun’22.
❖ Domestic Current Account Deposits stands at INR 63,440 crore, registering a growth of 10% on a YoY basis.
❖ Domestic Savings Bank Deposits grew by 11.1 % to INR 3,38, 182 crore. Overall Domestic CASA registered a growth of 10.9% on a YoY basis.
❖ Organic Retail loan portfolio of the Bank grew by 23.2% led by growth in Personal loan portfolio by 147.1%, Auto loan by 25.6%, Education loan by 20.5%, Home loan by 15.3% on a YoY basis.
❖ Agriculture loan portfolio grew by 14.4% YoY to INR 1, 10,854 crore.
❖ Organic MSME portfolio grew by 11.1 % YoY to INR 96,954 crore.

  • Net Interest Income grew by 12% to INR 8,838 crore in Q1FY23
  • Cost of Deposits reduced to 3.46% in Q1FY23 as against 3.55% in Q1FY22.
  • Global NIM stands at 3.02% in Q1FY23.
  • Return on Assets (RoA) improved to 0.68% in Q1FY23 from 0.42% in Q1FY22.
  • Return on Equity (RoE) increased by 500 bps YoY to 13.63%
Bank of Baroda Major Highlights : Q1 FY23 Results – Market Times

(IV) Asset Quality and CAR :

Q1FY23Q4FY22Q1FY22
Gross NPA ₹*52,590.8354,059.3963,028.78
Gross NPA %6.266.618.86
Net NPA ₹*12,652.7413,364.6520,259.97
Net NPA %1.581.723.03
**CAR %15.4615.6815.40
RoA %0.680.570.42
*₹ are in Crores **Capital Adequacy Ratio

❖ The Gross NPA of the Bank reduced to INR 52,591 crore in 01 FY23 from the level of INR 66,671 crore in 01 FY22 and Gross NPA Ratio improved to 6.26% in 01 FY23 from 8.86% in 01FY22.
❖ The Net NPA Ratio of the Bank improved to 1.58% in Q1 FY23 as compared with 3.03% in Q1FY22.
❖ The Provision Coverage Ratio of the Bank stood at 89.38% including TWO and 75.94% excluding TWO in 01 FY23.
❖ Slippage ratio decreased to 1.71% for 01FY23 as against 3% in 01FY22.
❖ Credit cost for the Q1FY23 stands at 0.75%.5.06

CRAR of the Bank improved to 15.46% in Jun’22 from 15.40% in Jun’21. In Tier-I CAR stood at 12.97% (CET-1 at 11.24%, AT1 at 1.73%) and Tier-II stood at 2.49% as of Jun’22. The CRAR and CET-1 of consolidated entity stands at 16.03% and 11.93% respectively.

Market Times – market news

The stocks of Bank of Baroda last hit in BSE,

  • Intraday High of ₹ 119.70
  • Intraday low of ₹ 115.60