Bank of Baroda is now India’s 2nd largest government bank beating PNB by Rs.22,517 crore in business

Public sector lender Bank of Baroda (BoB) on November 4 reported a net profit of Rs 4,252.89 crore for the September quarter of 2023-24. The bank’s gross non-performing assets (GNPAs) stood at 3.32 percent.

• Bank of Baroda Global Deposits increased by 14.6 percent YoY to Rs 12,49,647 crore.
• Domestic Deposits increased by 12.0 percent YoY to Rs 10,74,114 crore in Sep’23.
• However, the bank’s International Deposits grew by 33.8 percent on a YoY basis to Rs 1,75,533 crore in Sep’23.
• Bank’s Auto Loan grows at 21.1 percent, Home Loan at 16.1 percent, Personal Loan 67.2 percent, Mortgage Loan 13.3 percent, Education Loan 18.3 percent on a YoY basis.

BoB Data as on 30.09.2023

Bank of Baroda Loans Bifurcation

Bank of Baroda Industry Wise Exposure

PNB Data as on 30.09.2023

PNB Data

Financial highlights:

• Net profit surged more than fourfold to ₹1,756 crore, up 327% YoY
• Operating profit grew 11.67% YoY to ₹6,216 crore
• NII increased 20% YoY to ₹9,923 crore
• Global NIM improved by 11 bps to 3.11%

Asset quality:

• Gross NPA ratio improved by 352 bps YoY to 6.96%
• Net NPA ratio improved by 233 bps YoY to 1.47%
• Provision coverage ratio improved by 795 bps YoY to 91.91%

Business growth:

• Global business increased by 11.26% YoY to ₹22,51,631 crore
• Global deposits grew by 9.75% to ₹13,09,910 crore
• Global advances grew by 13.43% YoY to ₹9,41,721 crore
• Retail loan portfolio grew 16.5% YoY to ₹1,47,247 crore

Other highlights:

• Total retail loans increased by 40.42% YoY to ₹2,18,230 crore
• Gross NPAs declined by ₹21,472 crore YoY to ₹65,563 crore
• Net NPAs declined by ₹16,234 crore YoY to ₹13,114 crore
• Provision coverage ratio improved by 1372 bps YoY to 80%
• Slippage ratio improved YoY by 248 bps to 0.86%