Navkar Corporation Q2 Results: Revenue Jumps 43% YoY
Bank of Baroda Q1 Results FY2023, PAT at Rs. 1944 crore
Last Updated: 12th December 2022 - 08:37 am
On 30th July 2022, the Bank of Baroda announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- Net Interest Income grew by 12% to Rs. 8,838 crores in Q1FY23.
- Fee-based Income for the quarter increased by 15.6% to Rs. 1,277 crores.
- Operating Income for Q1FY23 stands at Rs. 10,020 crores.
- Operating Profit for Q1FY23 stands at Rs. 4,528 crores.
- Bank reported a standalone Net Profit of Rs. 2,168 crores in Q1FY23 as against a profit of Rs. 1,209 crores in Q1FY22.
- Global NIM stands at 3.02% in Q1FY23.
- Return on Assets (RoA) improved to 0.68% in Q1FY23 from 0.42% in Q1FY22.
- Return on Equity (RoE) increased by 500 bps YoY to 13.63%
- For the consolidated entity, Net Profit stood at Rs. 1,944 crores in Q1FY23 as against Rs. 1,187 crores in Q1FY22.
Business Highlights:
- The Gross NPA of the Bank reduced to Rs. 52,591 crores in Q1FY23 from the level of Rs. 66,671 crores in Q1FY22 and the Gross NPA Ratio improved to 6.26% in Q1FY23 from 8.86% in Q1FY22.
- The Net NPA Ratio of the Bank improved to 1.58% in Q1 FY23 as compared with 3.03% in Q1FY22.
- The Provision Coverage Ratio of the Bank stood at 89.38% including TWO and 75.94% excluding TWO in Q1FY23.
- Slippage ratio decreased to 1.71% for Q1FY23 as against 3% in Q1FY22.
- Credit cost for the Q1FY23 stands at 0.75%
- Global Advances of the Bank increased to Rs. 8,39,785 crore, +18% YoY.
- Domestic Advances of the Bank increased to Rs. 6,95,493 crore, +15. 7% YoY.
- Global Deposits increased by 10.9% YoY to Rs. 10,32,714 crore. Domestic Deposits increased by 8.5% YoY to Rs. 9,09,095 crore in Jun'22.
- Domestic Current Account Deposits stand at Rs. 63,440 crores, registering a growth of 10% on a YoY basis.
- Domestic Savings Bank Deposits grew by 11.1 % to Rs. 3,38, 182 crores. Overall Domestic CASA registered a growth of 10.9% on a YoY basis.
- Organic Retail loan portfolio of the Bank grew by 23.2% led by growth in the Personal loan portfolio by 147.1%, Auto loan by 25.6%, Education loan by 20.5%, and Home loan by 15.3% on a YoY basis.
- Agriculture loan portfolio grew by 14.4% YoY to Rs. 1, 10,854 crores.
- Organic MSME portfolio grew by 11.1 % YoY to Rs. 96,954 crore
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