BOB’s Net profit rises 3 times in the 9M period ended Dec’21 over the same period last year Net profit for the quarter doubles on a YoY basis to INR 2,197 crore Gross NPA ratio declines by 123 bps from 8.48% in Dec’20 to 7.25% in Dec’21 Net NPA ratio declines from 2.39% in Dec’20 to 2.25% in Dec’21 Domestic CASA up by 12.86% YoY, domestic CASA Ratio improved by 308 bps YoY Organic Retail advances portfolio registers a growth of 11.13% on a YoY basis Net Interest Margin improves by 36 bps YoY to 3.13% Net Interest income for the quarter registers a growth of 14.38% on a YoY basis Fee Income for the quarter increases by 15.50% on a YOY basis to INR 1,557 crore Return on Equity significantly increased by 525 bps YoY to 14.37%  Healthy Capital base – CRAR improved to 15.47% in Dec’21 from 12.93% in Dec’20

MUMBAI, 05 FEBRUARY, 2022 (2022):

Key Highlights

• The domestic CASA of the Bank marked a growth of 12.86% on a YoY basis. 
• Operating profit for the quarter grew by 7.85% on a YoY basis. 
• Net profit of the Bank doubled for the quarter and stands at INR 2,197 crore in Q3FY22 against INR 1,061 crore in Q3FY21. Net profit increased to INR 5,494 crore in 9MFY22 from INR 1,875 crore in 9MFY21.
• Gross NPA ratio of the Bank significantly improved to 7.25% in Dec’21 from 8.48% in Dec’20.
• Global Net Interest Margin (NIM) increased to 3.13% in Dec’21 from 2.77% in Dec’20.
• Global Advances of the Bank increased by 5.17% sequentially to INR 7,71,994 crore.
• Domestic Advances of the Bank increased to INR 6,54,315 crore, up by 4.96% on a QoQ basis, YoY growth stands at 3.36%. 

Business Performance

• Global Deposits increased by 2.46% to INR 9,78,034 crore on a YoY basis. Domestic Deposits increased by 5% to INR 8,76,555 crore in Dec’21.
• Domestic Current Account Deposits stands at INR 65,260 crore, registering a robust growth of 15.41% on a YoY basis. 
• Domestic Savings Bank Deposits grew by 12.36% to INR 3,22,909 crore. Overall Domestic CASA registered a growth of 12.86% on a YoY basis.
• Organic Retail loan portfolio of the Bank grew by 11.13% led by growth in Personal loan portfolio by 46.39%, Auto loan by 20.54% and Education loan by 13.86% on a YoY basis.
• Agriculture loan portfolio reached to INR 1,05,694 crore, marked a YoY growth of 9.58%
• Organic MSME portfolio increased to INR 92,668 crore grew by 2.39% on a YoY basis.

Profitability

• Net Interest Income (NII) increased to INR 8,552 crore in Q3FY22 as against INR 7,477 crore in Q3FY21, registering a growth 14.38% YoY.  
• Operating Income of the Bank increased by 6.57% YoY to INR 11,071 crore in Q3FY22.

Operating Income for 9MFY22 registered a growth of 10.57% and stood at INR 32,972 crore as against INR 29,819 crore in 9MFY21. 

• Cost of Deposits reduced to 3.50% in Dec’21 as against 3.85% in Dec’20. 
• Yield on Advances improved sequentially to 6.92% in Dec’21 from 6.55% in Sep’21.
• Operating Profit of the Bank increased to INR 5,483 crore in Q3FY22, up by 7.85% on a YoY basis. Operating Profit for 9MFY22 stands at INR 16,754 crore registering a growth of 11.95% YoY.
• Bank reported a standalone Net Profit of INR 2,197 crore in Q3FY22 as against INR 1,061 crore in Q3FY21.The Net Profit for the 9 months period increased to INR 5494 Crore in Dec’21 from INR 1875 Crore in Dec’20.
• Global NIM increased to 3.13% in Q3FY22 from 2.77% in Q3FY21. 
• Return on Assets (RoA) improved by 37bps to 0.74% in Q3FY22 from 0.37% in Q3FY21.
• For the consolidated entity, Net Profit stood at INR 2,464 crore in Q3FY22 as against INR 1,196 crore in Q3FY21.

Asset Quality

• The Gross NPA of the Bank reduced to INR 55,997 crore in Q3FY22 from the level of INR 63,182 crore in Q3FY21 and Gross NPA Ratio improved to 7.25% in Q3FY22 from 8.48% in Q3FY21.
• The Net NPA Ratio of the Bank improved to 2.25% in Q3FY22 as compared with 2.83% in Q2FY22.
• The Provision Coverage Ratio of the Bank stood at 85.95% including TWO and 70.60% excluding TWO in Q3FY22.

Capital Adequacy

• CRAR of the Bank improved to 15.47% in Dec’21 from 12.93% in Dec’20. Tier-I stood at 13.24% (CET-1 at 11.30%, AT1 at 1.94%) and Tier-II stood at 2.23% as of Dec’21. 
• The CRAR and CET-1 of consolidated entity stands at 15.97% and 11.91% respectively.

Income & Expenditure

Particulars (INR crore)	Q3FY21	Q2FY22	Q3FY22	YoY(%)
Interest Income	17,497	16,692	17,963	2.66
Interest Expenses	10,020	9,126	9,411	-6.08
Fee Income	1,348	1,499	1,557	15.50
Net Interest Income (NII)	7,477	7,566	8,552	14.38
Operating Income	10,388	11,145	11,071	6.57
Operating Expenses	5,304	5,476	5,588	5.35
Operating Profit	5,084	5,670	5,483	7.85
Total Provisions (other than tax) and contingencies	3,450	2,754	2,506	-27.36
of which, Provision for NPA Bad Debts Written-off	2,080	2,600	4,283
Profit before Tax	1,634	2,916	2,976	82.13
Provision for Tax	573	828	779	35.95
Net Profit	1,061	2,088	2,197

Business details

Particulars (INR crore)	Dec 31, 2020	Sep 30, 2021	Dec 31, 2021	YoY (%)
Domestic deposits	8,34,811	8,64,603	8,76,555	5
Domestic CASA	3,43,937	3,75,766	3,88,169	12.86
Global deposits	9,54,561	9,59,483	9,78,034	2.46
Domestic advances	6,33,039	6,23,368	6,54,315	3.36
Of which, retail loan portfolio (Organic)	1,16,046	1,23,424	1,28,960	11.13
Global advances	7,45,420	7,34,033	7,71,994	3.56
NIM Global %	2.77	2.85	3.13	36 bps
RoA %	0.37	0.73	0.74	37 bps

Particulars	Dec 31, 2020	Sep 30, 2021	Dec 31, 2021
CRAR (%)	12.93	15.55	15.47
Tier-1 (%)	10.57	13.21	13.24
CET-1 (%)	8.98	11.39	11.30
Gross NPA (%)	8.48	8.11	7.25
Net NPA (%)	2.39	2.83	2.25
PCR (with TWO) (%)	85.46	83.42	85.95

 

Particulars	Q3FY21	Q2FY22	Q3FY22
Credit Cost (%)	1.16	1.46	2.33

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 8,185 branches and 11,535 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 96 overseas offices spanning 18 countries.