Bank of Baroda Q2-2024 Report: Bank of Baroda (BoB) reported an 11.60% year-on-year (YoY) growth in global advances to ₹11.43 lakh crore for the quarter ended September 30, 2024. Global deposits also rose by over 9% YoY, reaching ₹13.63 lakh crore, according to the bank’s quarterly update released on Thursday. Also Read: PNB global business increased 12% YOY, Check Q2 Report
The state-run lender’s global business grew by 10.23% YoY to ₹25.06 lakh crore, as per the company filing. These figures are provisional, with the final numbers set to be released when BoB declares its July-September quarter results.
Domestically, advances increased by 12.51% YoY to ₹9.39 lakh crore, compared to ₹8.34 lakh crore as of September 30, 2023. Domestic deposits rose by 7.14% YoY to ₹11.50 lakh crore, up from ₹10.74 lakh crore a year earlier. BoB’s domestic retail advances saw a 20% YoY growth, reaching ₹2.32 lakh crore as of September 30, 2024, compared to ₹1.93 lakh crore in the same period last year.
In the June 2024 quarter, BoB had reported a 10% increase in standalone net profit, reaching ₹4,458 crore, aided by a reduction in bad loans. This compared to a net profit of ₹4,070 crore in the same period last year. Also Read: PNB global business increased 12% YOY, Check Q2 Report
