Bank of Baroda crosses Rs.22 lakh crore business milestone

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State-run Bank of Baroda on Friday (October 6) released its business update for the second quarter of 2023.

The bank reported an increase in total deposits, which grew by 4.15% quarter-on-quarter and an impressive 14.63% year-on-year, reaching a total of ₹12 lakh crore.

The domestic current account and savings account (CASA) deposits also increased, with a 1.12% quarter-on-quarter and 4.43% year-on-year rise, reaching ₹4.24 lakh crore.

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The domestic advances showed a strong performance, with a quarter-on-quarter growth of 2.87% and an impressive year-on-year growth of 16.64%, reaching ₹8.13 lakh crore.

The cumulative business of Bank of Baroda as of September 30, 2023, crossed a significant milestone, reaching ₹22 lakh crore. This represents a remarkable year-on-year growth rate of 15.88%.

The bank’s total advances also recorded substantial growth, increasing by 17.43% year-on-year and 3.51% quarter-on-quarter, reaching ₹10 lakh crore as of September 30, 2023.

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The bank reported strong growth in total deposits, with a 14.63% year-on-year increase and a 4.15% quarter-on-quarter increase, resulting in total deposits of ₹12 lakh crore as of September 30, 2023.

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