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The amalgamation of Bank of Baroda, Vijaya Bank, and Dena Bank came into effect from April 1, 2019.

Domestic advances increased by 8.31% led by organic Retail and Agriculture loans at 13.78% and 14.08% respectively. Domestic CASA momentum continues with CASA ratio up by 240bps YoY to 41.20%. Credit deposit ratio increased to 81.5% as of Dec’20 from 80.1% as of Dec’19.


  • Global advances increased by 6.30% led by domestic organic retail and agriculture loans which grew by 13.78% and 14.08% respectively. Auto loans increased by 22.56% YoY.
  • Domestic CASA ratio increased to 41.20%, up by 240 bps YoY. Domestic cost of deposits in Q3FY’21 is lower at 4.27%, a decline of 15bps QoQ.
  • Operating Profit for Q3FY’21 is Rs 5,591 crore registering an increase of 12.77% YoY and 0.70% QoQ. NII stood at Rs 7,749 crore, an increase of 8.65% YoY and 3.21% QoQ.
  • Trading gains up by 55.22% YoY. Trading gains were at Rs 925 crore in Q3. Recovery from TWO stood at Rs 511 crore in Q3FY21 as against Rs 341 crore in Q2FY21. 
  • Domestic margins (NIM) increased to 3.07% in Q3FY21 compared with 2.96% in Q2FY21. Global NIM at 2.87% compared with 2.86% in Q2.
  • Cost to income ratio for 9MFY21 declined to 47.74% from 48.21% in 9MFY20.
  • Gross NPA ratio stood at 8.48% as on Dec 31, 2020 against 10.43% as on Dec 31, 2019. Net NPA ratio to 2.39% as against 4.05% as on Dec 31, 2019.
  • Proforma GNPA ratio and NNPA ratio at 9.63% and 3.36% as of Dec 31, 2020. 
  • PCR has increased to 85.46% as on Dec 31, 2020 compared with 77.77% as on Dec 31, 2019 (85.35% as on Sep 30, 2020). Covid-19 related provisions stood at Rs 1709.45 crore.
  • Bank reported a Net Profit of Rs 1,061 crore as on Dec 31, 2020 on a standalone basis and consolidated Net Profit is at Rs 1,196 crore.
  • Capital adequacy (CRAR) stands at 12.93% with CET-1 at 8.98% on a standalone basis and for the consolidated entity it stands at 13.60% and 9.76% respectively.
  • IT Integration of all the eVB and eDB branches completed successfully by Dec 2020. Bank is implementing a strategic transformation initiative which includes New Ways of Working and digital led experience for its customers to unlock growth potential.

Bank of Baroda announced its results for the Quarter ended December 31, 2020, following the approval of its Board of Directors on January 27, 2021

Particulars (INR crore)Q3 FY 20 Q2 FY 21 Q3 FY 21 YOY (%)
Interest Income19,07117,91817,769-6.83
Interest Expenses11,93910,41010,020-16.07
Net Interest Income (NII)7,1327,5087,7498.65
Non- Interest Income2,7382,8022,8965.77
Operating Income (NII+ Other Income)9,87010,31010,6447.85
Operating Expenses4,9124,7585,0542.89
Operating Profit4,9585,5525,59112.77
Total Provisions (other than tax) and contingencies7,1553,0023,957-44.7
of which, Provision for NPA6,6212,2772,080-68.58
Profit before Tax-2,1972,5501,634 
Provision for Tax-790872573
Net Profit-1,4071,6791,061 
NIM % (Domestic)2.882.963.07 

Business details

Particulars (INR crore)Q3 FY 20 Q2 FY 21 Q3 FY 21 YOY (%)
Domestic deposits7,82,0708,35,8948,34,8116.74
Domestic CASA3,03,7953,32,4933,43,93713.21
Global deposits8,96,1629,54,3409,54,5616.52
Domestic advances5,84,4666,05,2456,33,0398.31
Of which, retail loan portfolio (ex-portfolio purchase)1,01,9951,11,9441,16,04613.78
Global advances7,01,2677,18,9577,45,4206.30
ParticularsQ3 FY 20 Q2 FY 21 Q3 FY 21 
CRAR (%)13.4813.2612.93
Tier-1 (%)11.4510.7510.57
CET-1 (%)9.859.218.98
ParticularsQ3 FY 20 Q2 FY 21 Q3 FY 21 
Gross NPA (%)10.439.148.48
Net NPA (%)4.052.512.39
PCR (with TWO) (%)77.7785.35 85.46
Slippage Ratio (%)6.780.54 2.44
Credit Cost (%)3.881.24 1.16

In its Interim Order dated September 3, 2020, the Hon’ble Supreme Court of India (SC), in a public interest litigation (Gajendra Sharma v/s Union of India & Anr), has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders. Based on the said interim order, the Bank has not classified any account pertaining to Domestic Operations as NPA, which was not NPA as of August 31, 2020.

Pending disposal of the case in Hon’ble SC, the Bank as a matter of prudence has made a contingent provision of Rs. 152156 Lakh. Further, interest and other income aggregating to Rs. 36993 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been provided for. Total additional provision as on 31.12.2020 is Rs. 189149 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.63% and 3.36% respectively.

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