View 17 reports from 6 analysts offering long term price targets
for Bank of Baroda.
Bank of Baroda has an average target of 113.20. The consensus estimate
represents an upside of 29.45%
from the last price of 87.45.
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In 2QFY22, Bank of Baroda (BOB) has delivered an expected result on operating and asset quality front. Fresh slippages were marginally higher at 52bn v/s 51bn in 1QFY22. Furthermore, the reduction (up-gradation & recovery) stood 93bnbn v/s 98bn in the previous quarter. It reported...
BOB reported a strong earnings performance, supported by lower provisions and higher other income, even as NII remained under pressure. Domestic NIM moderated by 22bp QoQ to 2.9%. Business trends, however, improved, with advances growing at 4% QoQ. Asset quality witnessed an overall improvement. Fresh slippage stood at INR52.2b (annualized slippage rate at 3%). However, higher write-offs and recoveries resulted in an improvement in asset quality. The GNPA/NNPA ratio declined by 75bp/20bp QoQ, while PCR was stable ~67%. Total SMA...
Bank of Baroda is an Indian multinational, public sector banking and financial services company. It currently has 8,192 branches in India and 99 overseas offices across 20 countries. The bank merged with Vijaya Bank and...
Asset quality trends were stable sequentially in a challenging environment, with fresh slippage at INR51.3b (annualized slippage rate of 3.1%). However, higher write-offs and upgrades resulted in stable asset quality trends the GNPA/NNPA ratio declined 1bp/6bp QoQ, while PCR was broadly stable at ~68%. Also, total SMA 1/2 (>INR50m) declined to ~2.68%, while the restructured book stood at 3.2% of loans. Collection efficiency (ex-Agri) was stable QoQ at 93%, better vis-vis many other peers. The bank expects growth to pick up, led by retail segments, while corporate growth would see gradual recovery as the economic situation normalizes. We...
Asset quality outlook improving; upgrade to BUY Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...
Decent operating performance with strong NII & lower opex Rs16.3bn) on back of continuing higher provisions on higher write-off & SME/Retail, while restructuring was slightly higher at 2.3% v/s 1.3% in Q4FY22. Overall stressed book (NPAs+Restructured+SMA) is still higher at...
NII was up 4.5% YoY but down 5% QoQ to | 7107 crore, mainly on account of interest reversals on NPA and interest on interest relief. Global net interest margin (NIM) declined ~5 bps QoQ to 2.72%, while domestic margins declined ~23 bps QoQ to 2.73%. NIMs were impacted by 36 bps due to reversals of interest. Other income grew 71% YoY led by recovery from written-off accounts. Provisions for the quarter remained elevated and increased QoQ to | 3586 crore with | 4593 crore for NPA provisions and reversal in Covid buffer of | 1663 crore. Though, PBT came in at | 2680 crore,...
Bank of Baroda (BOB) reported a loss in 4QFY21, impacted by one-time DTA reversals, even as a pick-up in fee income and recovery from W/O accounts aided operating profit. NII growth was weak, affected by high interest reversals and interest on interest waiver, thereby impacting margin. On the...
slippages of 450bn. Furthermore, the collection efficiencies of domestic loans stood at 96% v/s 93% declared earlier. Its reported GNPA (8.87% v/s 9.63% in 3QFY21) and NNPA (3.09% v/s 3.36% in 3QFY21) declined substantially along with higher PCR of 81.8%. The bank has witnessed stable net advances (2.3% YoY, 1.1% QoQ) and deposit growth (2.2% YoY, 1.3% QoQ) with better liquidity position (LCR of 140% +). Moreover BOB has reported net loss of 10.5bn on the back of DTA adjustments (Tax: 37.3bn v/s 5.7bn in 3QFY21). Factoring the difference between the reported NNPA and pro-forma NNPA, we believe the covid provision (32bn) could absorb half of the existing stress. Remaining half can be managed with internal accruals. The profitability may...
Bank of Baroda is an Indian multinational, public sector banking and financial services company. It currently has 8,246 branches in India and 99 overseas offices across 20 countries. The bank merged with Vijaya Bank and...
NII was up 8.7% YoY to | 7749 crore, on the back of improved margins. Global NIM improved ~7 bps YoY to 2.87%, while QoQ it was largely flat. Domestic margins posted healthy expansion of ~11 bps QoQ to 3.07%. Other income growth was miniscule at 5.6% YoY to | 2896 crore, on account of 11% YoY decline in fee income. Provisions remained elevated at | 3957 crore; up 31.8% QoQ. The bank said Covid related provisions were worth | 1709 crore. PAT during the quarter was at | 1061 crore, compared to a loss of | 1407 crore in the previous quarter last year....
Asset quality indicators still remain stressed mainly in retail/corporate marginally lower PPOP dent earnings. On Pro-forma basis bank would have (Rs83bn unrecognized). Positive was lower restructuring at 140bps of loans with guidance of 200bps of loans by Q1FY22 which is lower than expected...
BOB reported strong earnings, led by higher treasury gains, steady NII growth as domestic margin expanded 11bp, and lower provisions. On the business front, loan growth improved, with domestic advances growing at 4.6% QoQ, led by strong traction across business segments. Collection efficiency improved to 92%, but remain lower than other private peers. On the asset quality front, pro forma GNPA/NNPA ratio increased to 9.63%/3.36%. Total restructuring stood ~1.4% of advances (INR95b), while SMA-1/2 (excluding restructuring) stood at 3.6% of loans. We increase our...
We hosted two public sector banks, Bank of Baroda and Indian Bank, at our PSU Day conference, to understand their outlook mainly on growth and asset quality post unlocking leading to rally in banking stocks, including typically laggard PSBs, on the back of the improving pace of economy recovery. Management indicated that the overall growth outlook remains upbeat, driven by retail and some early signs of pickup even seen in corporate. The asset quality so far has been better than expected in terms of fresh slippages and restructuring, though caution is needed in case of any tail-end risk in FY22. After Canara, PNB and IDBI, we expect BOB and Indian Bank may also raise equity capital for growth, though not immediately. Merger integration has...
as collection efficiencies front. Moreover, reported gross slippages declined to 15.2bn v/s 30bn 1QFY21) and NNPA (2.51% v/s 2.83% in 1QFY21) declined substantially along with higher PCR (incl. TWO) of 85.4%. The bank has witnessed stable net advances (5.1% YoY) and strong deposit growth...
Bank of Baroda (BOB) reported strong earnings, led by higher treasury gains and steady NII growth as domestic margins expanded by 33bp and lower provisions. On the business front, loan growth trends remained muted, mainly due to 7% QoQ decline in corporate advances. The pickup in retail...
NII increased 6.8% YoY and 10.1% QoQ to | 7508 crore on the back of an improvement in net interest margin (NIM). NIMs during the quarter increased 31 bps QoQ to 2.86% on account of a steeper decline in cost of funds than yields. Other income jumped 54.1% QoQ to | 2802 crore, on account of 22.2% QoQ rise in fee income while trading gains were up 85.9% QoQ. Recovery from written-off account also improved from | 94 crore in the previous quarter to | 341 crore in Q2FY21. Provisions declined 49% QoQ as a result of lower slippages. This coupled with higher income led the bank...
NIM was sequentially higher by 30 bps to 2.86% due to lower slippages at 2% (including standstill NPAs) and improved spreads. Without standstill on NPAs, gross NPAs would be at 9.33% against...
