Open ICICI
3-in-1 Account
Manage your Savings, Demat and Trading Account conveniently at one place
Manage your Savings, Demat and Trading Account conveniently at one place
News: Bank of Baroda Q1FY25 performance were mixed. Moderation was seen in credit growth (8.1% YoY) led by de-growth in corporate segment. Deposits grew at 8.9% YoY, with relatively better CASA growth at 6% YoY. Margin declined 9 bps, both QoQ and YoY to 3.27%, resulting in muted growth in NII at 5.5%. Other income declined 25% YoY, owing to treasury income and lower recoveries. Thus, operating profit declined 8.5% YoY while PAT grew 10% YoY to ₹4458 crore, led by lower provision. GNPA declined 4 bps QoQ to 2.88% while slippages remained steady at 1.05%.
Views: Amid tight liquidity conditions, the bank choose to safeguard margins at the expense of slower growth. However, guidance maintained to deliver 12-14% growth in advances and 10-12% deposit growth, RoA at 1.1%.
Impact: Neutral