Bank of Baroda Q3 Results FY2023, PAT at Rs. 3853 crores

On 3rd February, Bank of Baroda announced its results for the third quarter of FY2023.

Key Highlights:

-  Net Interest Income (NII) grew by 26.5% YoY to Rs. 10,818 crores in Q3FY23.
- Fee based Income for the quarter increased by 9.4% to Rs. 1,539 crores.
- Operating Income for Q3FY23 stands at Rs. 14,370 crores, an increase of 29.8% YoY.  
- Operating Profit for Q3FY23 stands at Rs. 8,232 crores, an increase of 50.1 % YoY. 
- Bank reported a standalone Net Profit of Rs. 3,853 crores in Q3FY23
- Global NIM stands at 3.37% in Q3FY23, an increase of 24 bps YoY

Business Highlights:

- Yield on Advances increased to 7.78% in O3FY23 as against 6.92% in Q3FY22. 
- The cost of Deposits stands at 4.01 % in Q3FY23 as against 3.50% in Q3FY22. 
- The cost to Income ratio declined to 42.71 % for Q3FY23 as against 50.47% for Q3FY22.
- Return on Assets (annualized) improved to 1.13% in Q3FY23 from 0.74% in Q3FY22.
- The Gross NPA of the Bank reduced by 25.3% YoY to Rs. 41,858 crores in Q3FY23
- The Net NPA Ratio of the Bank improved to 0.99% in Q3FY23
- The Provision Coverage Ratio of the Bank stood at 92.34% including TWO
- Slippage ratio declined to 1.05% for Q3FY23
- Credit cost for the Q3FY23 stands at 0.37%. 
- CRAR of the Bank stands at 14.93%. Tier-I stood at 12.62% (CET-1 at 10.83%, AT1 at 1.79%) and Tier-II stood at 2.31%.
- The CRAR and CET-1 of the consolidated entity stand at 15.44% and 11.45% respectively
- Global Advances of the Bank increased to Rs. 9,23,878 crore, up by 19.7% YoY. 
- Domestic Advances of the Bank increased to Rs. 7,60,249 crore, up by 16.2% YoY. 
- International advances grew by 4.4% sequentially in Q3FY23
- Global Deposits increased by 17.5% YoY to Rs. 11,49,507 crore. 
- Domestic Deposits increased by 14.5% YoY to Rs. 10,03,737 crore. 
- International Deposits grew by 43.6% YoY to Rs. 1,45,770 crore. 
- Domestic CASA registered a growth of 7.6% YoY and stands at Rs. 4, 17,812 crores with Domestic Savings account deposits registering a growth of 9.2% YoY. 
- Organic Retail Advances grew by 29.4%, led by growth in high focus areas such as Auto Loan (27.5%), Home Loans (19.6%), Personal Loans (169.6%), Mortgage Loans (20.5%), Education Loans (24.1 %) YoY.
- Agriculture loan portfolio grew by 12.8% YoY to Rs. 1,19,197 crore. 
- Total Gold loan portfolio (including retail and agriculture) stands at Rs. 35,134 crores, registering a growth of 29.8% YoY.
- Organic MSME portfolio grew by 11.1 % YoY to Rs. 1,03,003 crore.