BoB Profit Jumps 18% YoY, NII Rises 57% 9M FY24

Bank of Baroda (BoB) has registered a net profit of Rs 4,579 crore in the quarter ending December 2023 (Q3 FY24) as against a profit of Rs 3,853 crore in Q3 FY23. Net Profit for the initial nine months (9M FY24) stands at Rs 12,902 crore, 38.2% per cent up year on year (YoY) as against Rs 9,334 crore in 9M FY23. Non-Interest Income for 9MFY24 stands at INR 10,304 crore up by 57.1 per cent YoY.

The capital risk adequacy ratio (CRAR) of the bank stands at 14.72 per cent in Q3 FY24. Tier-I capital stood at 12.67 per cent of which common equity tier-1 capital (CET-1) was at 11.11 per cent and additional tier capital (AT1) was at 1.56 per cent and Tier-II stood at 2.05 per cent as of Q3 FY24.

The CRAR and CET-1 of the consolidated entity stand at 15.14 per cent and 11.62 per cent respectively and the Liquidity Coverage Ratio (LCR) consolidated stands at 133 per cent.

The gross non-performing assets (GNPA) of the bank reduced by 22.8 per cent YoY to Rs 32,318 crore in Q3 FY24 and the Gross NPA Ratio improved to 3.08 per cent in Q3 FY24 from 4.53 per cent in Q3 FY23.

The Net NPA ratio of the bank stands at a low of 0.70 per cent in Q3 FY24 as compared with 0.99 per cent in Q3 FY23. The Provision Coverage Ratio of the bank stood at 93.39 per cent in Q3 FY24. The slippage ratio declined to 1.06 per cent for 9M FY24 as against 1.22 per cent in 9M FY23.

The slippage ratio for the quarter is below 1 per cent at 0.95 per cent for Q3 FY24 as against 1.05 per cent in Q3 FY23. Credit cost stands at 0.39 per cent for Q3 FY24 and 0.69 per cent for 9MFY24. Corporate advances registered a growth of 10.2% YoY and stands at Rs 3,62,813 crore.