Bank of Baroda reported third quarter standalone internet revenue for the interval ended December 31, 2023 grew 18.8% to ₹4,579 crore due to higher asset high quality.
Net Interest Income (NII) grew by 2.6% YoY to ₹11,101 crore. The price of deposits elevated to 4.96% as towards 4.01% a yr earlier, the financial institution stated in a submitting with the exchanges. Consolidated internet revenue stood at ₹4,789 crore as towards ₹4,306 crore within the year-earlier interval.
During the quarter, the financial institution’s gross NPAs diminished 22.8% YoY to ₹32,318 crore, whereas gross NPA ratio improved to 3.08% from 4.53% in the identical interval final yr.
Net NPA ratio, as on December 31, 2023 stood at a low 0.70%, as in contrast with 0.99% within the year-earlier interval. Slippage ratio for the quarter was at 0.95% as towards 1.05% within the year-earlier interval.
Advances of the financial institution elevated to ₹10,49,327 crore, up 13.6% YoY. Deposits elevated 8.3% YoY to ₹12,45,300 crore. Retail advances grew 22%, led by development in excessive focus areas similar to auto mortgage (24.3%), residence mortgage (15.6%), private mortgage (60.8%), mortgage mortgage (10.5%) and schooling mortgage (18.3%) on a YoY foundation. The financial institution’s agriculture mortgage portfolio grew 12.6% YoY to ₹1,34,240 crore. Gold mortgage portfolio, together with retail and agri, stood at ₹45,074 crore, registering a development of 28.3% on a YoY foundation.
The financial institution’s MSME portfolio grew 12.6% YoY to ₹1,15,995 crore, whereas company advances registered a development of 10.2% YoY and stood at ₹3,62,813 crore.
