Bank of Baroda announced its results for the Quarter ended September 30, 2020, following the approval of its Board of Directors on October 29, 2020
Particulars (INR crore) | Q2 FY 20 | Q1 FY 21 | Q2 FY 21 | YOY (%) |
Interest Income | 19,274 | 18,494 | 17,918 | -7.04 |
Interest Expenses | 12,246 | 11,678 | 10,410 | -14.99 |
Net Interest Income (NII) | 7,028 | 6,816 | 7,508 | 6.83 |
Non- Interest Income | 2,824 | 1,818 | 2,802 | -0.77 |
Operating Income (NII+ Other Income) | 9,852 | 8,634 | 10,310 | 4.65 |
Operating Expenses | 4,516 | 4,314 | 4,758 | 5.36 |
Operating Profit | 5,336 | 4,320 | 5,552 | 4.05 |
Total Provisions (other than tax) and contingencies | 4,209 | 5,628 | 3002 | -28.69 |
of which, Provision for NPA | 3,425 | 3,458 | 2277 | -33.52 |
Profit before Tax | 1,127 | -1,308 | 2,550 | 126.33 |
Provision for Tax | 390 | -444 | 872 | 123.49 |
Net Profit | 737 | -864 | 1679 | 127.82 |
NIM % (Domestic) | 2.95 | 2.63 | 2.96 |
Particulars (INR crore) | Q2 FY 20 | Q1 FY 21 | Q2 FY 21 | YOY (%) |
Domestic deposits | 7,83,492 | 8,13,530 | 8,35,894 | 6.69 |
Domestic CASA | 2,96,792 | 3,21,229 | 3,32,493 | 12.03 |
Global deposits | 8,94,130 | 9,34,461 | 9,54,340 | 6.73 |
Domestic advances | 5,71,991 | 6,15,038 | 6,05,245 | 5.81 |
Of which, retail loan portfolio (ex-portfolio purchase) | 95,832 | 107,084 | 1,11,944 | 16.81 |
Global advances | 6,82,669 | 7,36,547 | 7,18,957 | 5.32 |
Particulars | Q2 FY 20 | Q1 FY 21 | Q2 FY 21 |
CRAR (%) | 12.98 | 12.84 | 13.26 |
Tier-1 (%) | 10.91 | 10.33 | 10.75 |
CET-1 (%) | 9.84 | 9.08 | 9.21 |
Particulars | Q2 FY 20 | Q1 FY 21 | Q2 FY 21 |
Gross NPA (%) | 10.25 | 9.39 | 9.14 |
Net NPA (%) | 3.91 | 2.83 | 2.51 |
PCR (with TWO) (%) | 77.88 | 83.30 | 85.35 |
Slippage Ratio (%) | 3.95 | 1.64 | 0.54 |
Credit Cost (%) | 2.02 | 1.87 | 1.24 |
In its Interim Order dated September 3, 2020, the Honourable Supreme Court of India has directed that accounts which were not declared as NPA till August 31, 2020 shall not be declared as NPA till further orders.
Pending disposal of the case in Hon’ble SC, the Bank as a matter of prudence has made a contingent provision of Rs.19520 Lakh in respect of such accounts that were not classified as NPA. Further, In respect of above accounts, interest income aggregating Rs. 9792 Lakh has been reckoned in operating profit and as prudent measure an equal amount has been made as additional provision against those Assets. Total additional provision as on 30.09.2020 is Rs. 29312 lakh. If the Bank would have classified the said borrower accounts as NPA, the Gross and Net NPA ratio would have been 9.33% and 2.67% respectively.
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October 29, 2020
Mumbai
About Bank of Baroda
Bank of Baroda (“The Bank”) established on July 20, 1908 is an Indian state-owned banking and financial services organization, headquartered in Vadodara (earlier known as Baroda), in Gujarat, India. Under the ‘Alternative Mechanism’ scheme, the Government announced the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda which came into effect on April 1, 2019.
Bank of Baroda is one of India’s largest banks with a strong domestic presence spanning 8,965 branches and 12,087 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 99 overseas offices spanning 20 countries.