Bank of Baroda announces Financial Results for the Quarter ended 30 th September 2022 Key Highlights


. Bank of Baroda (BOB) declares record profits. Net profit for Q2FY23 grows by 58.7%
YoY to reach INR 3,313 crore
. Net profit in (H1FY23) stood at INR 5,482 crore registering a strong YoY growth of 66.3%
. Advances registered a strong YoY growth of 19% in Q2FY23
. Organic Retail Advances grew by 28.4%, led by growth in high focus areas such as
Home Loan (19%), Personal Loan (172.8%), Auto Loan (29.2%), Education Loan (23.2%)
. GNPA at 5.31% a reduction of 280 bps YoY and 95 bps QoQ
.NNPA at 1.16% a reduction of 167 bps YoY in Q2FY23 and 42 bps QoQ
. Provision coverage ratio (PCR) at 79.14% w/o TWO
. Net Interest Margins stands at 3.33% in Q2FY23, increase of 48 bps YoY & 31 bps QoQ
. Healthy Capital base – CRAR stands at 15.25% in Sep’22

Business Performance
. Global Advances of the Bank increased to INR 8,73,496 crore, +19% YoY.
. Domestic Advances of the Bank increased to INR 7,16,737 crore, +15% YoY.
. International advances registered a robust growth of 41.7% YoY.
. Global Deposits increased by 13.6% YoY to INR 10,90,172 crore.
. Domestic Deposits increased by 10.9% YoY to INR 9,58,967 crore in Sep’22.
. International Deposits grew by 38.3% on a YoY basis to INR 1,31,205 crore in Sep’22.
. Domestic Current Account Deposits stands at INR 64,873 crore, registering a growth of
7.9% on a YoY basis.
. Domestic Savings Bank Deposits grew by 9.4% to INR 3,45,278 crore. Overall Domestic
CASA registered a growth of 9.2% on a YoY basis.
.Organic Retail loan portfolio of the Bank grew by 28.4% led by growth in Personal loan
portfolio by 172.8%, Auto loan by 29.2%, Education loan by 23.2%, Home loan by 19%
on a YoY basis.
. Agriculture loan portfolio grew by 14.1% YoY to INR 1,14,964 crore.

. Total Gold loan portfolio (including retail and agri.) stands at INR 33,502 crore,
registering a growth of 27.8% on a YoY basis.
. Organic MSME portfolio grew by 13.4% YoY to INR 1,01,278 crore.
Profitability
. Net Interest Income grew by 34.5% YoY and 15.1% QoQ to INR 10,714 crore in
Q2FY23. It registered a growth of 23% YoY for H1FY23 and stands at INR 19,013 crore.
. Fee based Income for the quarter increased by 12.3% to INR 1,515 crore.
. Operating Income for Q2FY23 stands at INR 12,000 crore, increase of 7.7% YoY.
. Yield on Advances increased to 7.22% in Q2FY23 as against 6.55% in Q2FY22.
. Cost of Deposits stands at 3.59% in Q2FY23 as against 3.52% in Q2FY22.
. Operating Profit for Q2FY23 stands at INR 6,031 crore, increase of 6.4% on a YoY basis.
Operating Profit for H1FY23 stands at INR 10,558 crore.
. Core Operating Profit (ex-Treasury gains/losses and Interest on IT refund) grew by
44.6% YoY at INR 6,270 Cr in Q2FY23.
. Bank reported a standalone Net Profit of INR 3,313 crore in Q2FY23 as against a profit of
INR 2,088 crore in Q2FY22.
. Global NIM stands at 3.33% in Q2FY23, increase of 31 bps QoQ. NIM for H1FY23
stands at 3.17% against 3.03% for FY22.
. Return on Assets (annualised) improved to 1.01% in Q2FY23 from 0.73% in Q2FY22.
Return on Assets for H1FY23 stands at 0.84%.
. Return on Equity (annualised) increased by 554 bps YoY to 19.56% in Q2FY23. Return
on Equity for H1FY23 also increased by 511 bps YoY to 16.18%.
. For the consolidated entity, Net Profit stood at INR 3,400 crore in Q2FY23 as against INR
2,168 crore in Q2FY22.
Asset Quality
. The Gross NPA of the Bank reduced by 12% QoQ to INR 46,374 crore in Q2FY23 and
Gross NPA Ratio improved to 5.31% in Q2FY23 from 6.26% in Q1FY23.
. The Net NPA Ratio of the Bank improved to 1.16% in Q2FY23 as compared with 1.58%
in Q1FY23.
. The Provision Coverage Ratio of the Bank stood at 91.73% including TWO and 79.14%
excluding TWO in Q2FY23.
. Slippage ratio declined to 1.53% for H1FY23 as against 2.45% in H1FY22.
. Credit cost for the Q2FY23 stands at 0.79%.
Capital Adequacy

. CRAR of the Bank stands at 15.25% in Sep’22 from 15.55% in Sep’21. Tier-I stood at
12.81% (CET-1 at 10.95%, AT1 at 1.86%) and Tier-II stood at 2.44% as of Sep’22.
. The CRAR and CET-1 of consolidated entity stands at 15.77% and 11.60% respectively

Business position
Particulars (INR crore) Sep 30, 2021 Jun 30, 2022 Sep 30, 2022 YoY (%)
Domestic deposits 8,64,603 9,09,095 9,58,967 10.9
Domestic CASA 3,75,766 4,01,622 4,10,151 9.2
Global deposits 9,59,483 10,32,714 10,90,172 13.6
Domestic advances 6,23,368 6,95,493 7,16,737 15.0
Of which, retail loan
portfolio (Organic) 1,23,424 1,47,535 1,58,506 28.4
Global advances 7,34,033 8,39,785 8,73,496 19.0
NIM Global % 2.85 3.02 3.33 48 bps
Financial result for Quarter ended 30 th September 2022
Particulars (INR crore) Q2FY22 Q1FY23 Q2FY23 YoY(%)
Interest Income 16,692 18,937 21,254 27.3
Interest Expenses 9,126 10,099 11,080 21.4
Fee Income 1,349 1,277 1,515 12.3
Net Interest Income (NII) 7,566 8,838 10,174 34.5
Operating Income 11,145 10,020 12,000 7.7
Operating Expenses 5,476 5,492 5,969 9.0
Operating Profit 5,670 4,528 6,031 6.4
Total Provisions (other than
tax) and contingencies 2,754 1,685 1,628 -40.9
of which, Provision for NPA
Bad Debts Written-off 2,600 1,560 1,654 -36.4
Profit before Tax 2,916 2,843 4,403 51.0
Provision for Tax 828 675 1,090 31.6
Net Profit 2,088 2,168 3,313 58.7
Key Ratios
Particulars Sep 30, 2021 Jun 30, 2022 Sep 30, 2022
CRAR (%) 15.55 15.46 15.25
Tier-1 (%) 13.21 12.97 12.81
CET-1 (%) 11.39 11.24 10.95
Gross NPA (%) 8.11 6.26 5.31
Net NPA (%) 2.83 1.58 1.16
PCR (with TWO) (%) 83.42 89.38 91.73

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