Bank of Baroda shares rises post Q3 Update, Net Interest Income up by 7.3%

State-owned Bank of Baroda reported an 11.74% year-on-year (YoY) growth in its global business for the third quarter, reaching Rs 25.64 lakh crore as of December 31, 2024. Global deposits grew by 11.82% year-on-year to Rs 13.92 lakh crore, while domestic deposits rose by 9.23% year-on-year to Rs 11.66 lakh crore. 

On the advances side, global advances increased by 11.65% year-on-year to Rs 11.71 lakh crore, with domestic advances up by 11.76% year-on-year to Rs 9.63 lakh crore.

Domestic retail advances surged 19.48% year-on-year, reaching Rs 2.43 lakh crore. Bank of Baroda's net profit for the second quarter of FY25 stood at Rs 5,238 crore, reflecting a 23.2% year-on-year increase from Rs 4,253 crore. The bank reported a net interest income of Rs 11,622 crore, marking a 7.3% increase from Rs 10,831 crore in Q2FY24.

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For the first half of FY25, net interest income rose to Rs 23,222 crore, a 6.4% year-on-year growth from Rs 21,827 crore. The non-interest income surged by 24.2%, reaching Rs 5,181 crore in Q2FY25 compared to Rs 4,171 crore in the same quarter last year. This growth led to an operating profit of Rs 9,477 crore, an 18.2% increase from Rs 8,020 crore in Q2FY24.

The Gross Non-Performing Assets (GNPA) ratio decreased to 2.50% in Q2FY25, down from 3.32% in Q2FY24. Similarly, the Net Non-Performing Assets (NNPA) ratio improved to 0.60% from 0.76% in the previous year. The bank's capital adequacy ratio also strengthened, increasing to 16.26%, up from 15.30% in the same quarter last year.

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