Bank of Baroda Q2 Results: Posted Net Profit of INR 5,238 crore in Q2FY25

New Delhi: One of India’s largest banks, Bank Of Baroda has reported a standalone Net Profit of INR 5,238 crore in Q2FY25 as against a profit of INR 4,253 crore in Q2FY24 up by 23.2% YoY. Also the Net Profit for H1FY25 stands at INR 9,696 crore (+16.5% YoY) as against INR 8,323 crore in H1FY24. The company posted Net Interest Income (NII) of 7.3% YoY to INR 11,622 crore in Q2FY25.

NII for H1FY25 registered a growth of 6.4% and stands at INR 23,222 crore. Non-Interest Income grew to INR 5,181 crore in Q2FY25 as against INR 4,171 crore in Q2FY24 registering a YoY growth of 24.2%. Non-Interest Income for H1FY25 stands at INR 7,669 crore.

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Bank of Baroda Q2 Results Key Highlights:

• Bank of Baroda (BOB) quarterly Net profit higher by 23.2% YoY at INR 5,238 crore in Q2FY25. Net Profit for H1FY25 grew by 16.5% to INR 9,696 crore.
• BOB has consistently delivered Return on Assets (ROA) of more than 1%, ROA for Q2FY25 stands at 1.30% and for H1FY25 at 1.20%.
• Return on Equity (ROE) stands at 19.22% for Q2FY25 and 17.79% for H1FY25.
• The growth in profitability was supported by healthy Operating Income growth of 12% YoY in Q2FY25.
• Operating income growth was augmented by 24.2% YoY growth in Non-Interest Income in Q2FY25.
• Non-Interest Income growth in Q2FY25 was driven by growth in Trading Gains (+86.6%) and Recovery from TWO (~2x)
• Healthy growth in Income during the quarter coupled with subdued increase in Opex (+4.9%) has resulted in strong Operating profit growth of 18.2% YoY for Q2FY25.
• Cost to Income ratio of the Bank has reduced by 294 bps YoY to 43.60% for Q2FY25.
• Asset quality has significantly improved with GNPA at 2.50% for the quarter, a decline of 82 bps YoY. NNPA has also reduced by 16 bps YoY to 0.60%.
• BOB’s balance sheet remained robust with healthy Provision Coverage Ratio (PCR) of 93.61% with TWO & at 76.31% without TWO.
• Credit cost remains below 1% at 0.65% for Q2FY25 and 0.55% for H1FY25.
• BOB’s Global Advances registered a strong YoY growth of 11.6% in Q2FY25 led by robust retail loan book growth. Bank’s organic Retail Advances grew by 19.9%, driven by growth in high focus areas such as Auto Loan (22.9%), Home Loan (16.2%), Mortgage Loan (13.2%), Education Loan (17.2%).

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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 8,343 branches and 10,360 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 84 overseas offices spanning 17 countries.

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