Bank of Baroda reports Q4 net loss of Rs 1,046.5 crore

by Psu Connect
Date: 29-05-21

Bank of Baroda (BoB) reported a standalone net loss of Rs 1,046.5 crore for the quarter ended March. The bank had posted a net profit of Rs 506 crore in the same quarter last year and Rs 1,061 crore profit in the previous quarter

Bank of Baroda reports Q4 net loss of Rs 1,046.5 crore

New Delhi: Bank of Baroda (BoB) reported a standalone net loss of Rs 1,046.5 crore for the quarter ended March. The bank had posted a net profit of Rs 506 crore in the same quarter last year and Rs 1,061 crore profit in the previous quarter

According to the bank, domestic advances increased by 8.31% led by organic Retail and Agriculture loans at 13.78% and 14.08% respectively. Domestic CASA momentum continues with CASA ratio up by 240bps YoY to 41.20%. The credit deposit ratio increased to 81.5% as of Dec’20 from 80.1% as of December 2019.

Highlights

Global advances increased by 6.30% led by domestic organic retail and agriculture loans which grew by 13.78% and 14.08% respectively. Auto loans increased by 22.56% YoY.

Domestic CASA ratio increased to 41.20%, up by 240 bps YoY. The domestic cost of deposits in Q3FY’21 is lower at 4.27%, a decline of 15bps QoQ.

Operating Profit for Q3FY’21 is Rs 5,591 crore registering an increase of 12.77% YoY and 0.70% QoQ. NII stood at Rs 7,749 crore, an increase of 8.65% YoY and 3.21% QoQ.

Trading gains up by 55.22% YoY. Trading gains were at Rs 925 crore in Q3. Recovery from TWO stood at Rs 511 crore in Q3FY21 as against Rs 341 crore in Q2FY21.

Domestic margins (NIM) increased to 3.07% in Q3FY21 compared with 2.96% in Q2FY21. Global NIM at 2.87% compared with 2.86% in Q2.

Cost to income ratio for 9MFY21 declined to 47.74% from 48.21% in 9MFY20.

Gross NPA ratio stood at 8.48% as on Dec 31, 2020 against 10.43% as on Dec 31, 2019.

Net NPA ratio to 2.39% as against 4.05% as on Dec 31, 2019.

Proforma GNPA ratio and NNPA ratio at 9.63% and 3.36% as of Dec 31, 2020.

PCR has increased to 85.46% as on Dec 31, 2020 compared with 77.77% as on Dec 31, 2019 (85.35% as on Sep 30, 2020). Covid-19 related provisions stood at Rs 1709.45

crore.

Bank reported a Net Profit of Rs 1,061 crore as on Dec 31, 2020, on a standalone basis and consolidated Net Profit is at Rs 1,196 crore.

Capital adequacy (CRAR) stands at 12.93% with CET-1 at 8.98% on a standalone basis and for the consolidated entity, it stands at 13.60% and 9.76% respectively.

IT Integration of all the eVB and eDB branches completed successfully by Dec 2020. The bank is implementing a strategic transformation initiative that includes New Ways of Working and digital-led experience for its customers to unlock growth potential.