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Banking Essentials Newsletter April Edition - 2022

Bank of Baroda fiscal Q4 net loss narrows YOY

India-based Bank of Baroda posted a stand-alone net loss of 9.91 billion Indian rupees, or 3.22 rupees per share, for the fiscal fourth quarter ended March 31, narrowing from a net loss of 31.02 billion rupees, or 13.44 rupees per share, in the prior-year period.

Net interest income for the period came to 48.63 billion rupees, up from 38.68 billion rupees. Total income rose to 152.85 billion rupees from 127.35 billion rupees.

Operating income jumped to 70.37 billion rupees from 56.98 billion rupees, while operating profit climbed to 38.61 billion rupees from 26.65 billion rupees. The bank booked total provisions worth 48.52 billion rupees, down from 57.68 billion rupees a year earlier.

Net interest margin for the quarter clocked in at 2.90%, up from 2.69% for the December 2018 quarter.

For the full year, the Indian lender reported consolidated net profit of 11.00 billion rupees, compared to a net loss of 18.87 billion rupees in the year-ago period. EPS for the full year came to 3.58 rupees, compared to a loss of 8.17 rupees per share.

The S&P Global Market Intelligence consensus estimate was 9.28 rupees for normalized EPS and 9.51 rupees for GAAP EPS.

At the end of March, the bank's gross nonperforming assets ratio came in at 9.61%, down from 12.26% a year earlier. Its net NPA ratio stood at 3.33%, down from 5.49% as of March 31, 2018.

Bank of Baroda's capital adequacy ratio stood at 13.42% as of March 31, up from 11.67% in the last quarter and 12.13% a year earlier.

Its common equity Tier 1 ratio for the period rose to 10.38% from 8.65% as of Dec. 31, 2018, and 9.23% as of March 31, 2018.

As of May 22, US$1 was equivalent to 69.71 Indian rupees.