Bank of Baroda Q1 Results FY2023, PAT at Rs. 1944 crore
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.
- 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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