Bank of Baroda Q1FY25 results, net profit of 9.5% YoY reported
The Bank has reported a standalone net Profit of Rs 4,458 crore in Q1 FY25 as against a profit of Rs 4,070 crore in Q1 FY24.
State-owned Bank of Baroda announces Financial Results for the Quarter ended 30th June, 2024 where the Bank's Net Profit registers a YoY growth of 9.5% reaching a level of Rs 4,458 crore, driven by lower credit cost.
The Bank has reported a standalone net Profit of Rs 4,458 crore in Q1 FY25 as against a profit of Rs 4,070 crore in Q1 FY24.
The Net Interest Income (NII) grew by 5.5% YoY to Rs 11,600 crore in Q1 FY25 and the Cost of Deposits remained stable sequentially at 5.06% and increased by 38 bps YoY as against 4.68% in Q1 FY24. The Operating Profit for Q1 FY25 stands at Rs 7,161 crore. Cost to Income ratio stands at 49.17% for Q1 FY25.
Read Also : Darranga designated as authorised Immigration Check PostThe Gross NPA of the Bank is reduced by 11.4% YoY to Rs 30,873 crore in Q1 FY25 and gross NPA Ratio improved to 2.88% in Q1FY25 from 3.51% in Q1FY24.
The Net NPA Ratio of the Bank stands at 0.69% in Q1FY25 as compared with 0.78% in Q1FY24. The Provision Coverage Ratio of the Bank stood at 93.32% including TWO and 76.58% excluding TWO in Q1 FY25.
Domestic CASA deposits registered a growth of 6% YoY and stands at Rs 4,49,019 crore. As of the consolidated entity, net Profit stood at Rs 4,728 crore in Q1FY25 as against Rs 4,452 crore in Q1 FY24. Return on Assets (ROA) remains consistently above 1% for 8 quarters and stands at 1.13% for Q1FY25.
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