Bank of Baroda Achieves Rs 22 Tn Business Milestone In Q2 With 15% Deposit Growth
The bank has announced a notable surge in its overall deposits, which saw a 4.15 per cent quarter-over-quarter increase and an impressive 14.63 per cent year-over-year growth, totaling Rs 12 lakh crore as of 30 September 2023.
Additionally, domestic current account and savings account (CASA) deposits also witnessed an upswing, with a 1.12 per cent quarter-on-quarter rise and a substantial 4.43 per cent year-on-year increase, reaching Rs 4.24 lakh crore.
The domestic advances displayed a robust performance, experiencing a 2.87 per cent quarter-on-quarter expansion and a remarkable year-on-year growth of 16.64 per cent, reaching Rs 8.13 lakh crore.
The cumulative business of Bank of Baroda reached a significant milestone as of 30 September 2023, surpassing Rs 22 lakh crore. This represents an impressive year-on-year growth rate of 15.88 per cent.
Furthermore, the bank's total advances exhibited substantial growth, posting a 17.43 per cent year-on-year increase and a 3.51 per cent quarter-on-quarter rise, totaling Rs 10 lakh crore as of 30 September 2023.
On the stock market, Bank of Baroda's shares closed at Rs 215.30, marking a gain of Rs 2.80, equivalent to a 1.32 per cent increase, on the BSE.
