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Business EconomyPosted at: Aug 10 2020 7:33PM


BOB announces financial results

Kolkata, Aug 10 (UNI) Bank Of Baroda has announced financial results for Q1 FY 2021 recording an adances growth at 8.6% with organic retail loans growing at 13.5%.
Domestic CASA ratio increased by 294 bps YoY to 39.49%.
Domestic Retail term deposits increased by 10.4%.
Asset quality improved with Net NPA ratio at 2.83% from 3.95% last year.
PCR at 83.3% from 77.34% as of Jun’19. Amalgamation benefits visible through realization of synergies with 99% of estimated synergies for year one realized in first year itself.
Operating Profit for Q1FY’21 is INR 4,320 crore. NII increased by 4.93% YoY to Rs 6,816 crore.
Within the non-interest earnings, Trading gains up by 60.06% YoY.
Global advances increased by 8.6% led by international, domestic organic retail and corporate loans which grew by 13.93%, 13.5% and 9.16% respectively.
Domestic CASA ratio increased to 39.49%, higher by 294bps YoY. Retail term deposits increased by 10.4% YoY. Cost of deposits in Q1FY’21 is lower by 53 bps YoY at 4.95%.
Global NIM during Q1FY’21 stood at 2.55% and domestic NIM stood at 2.63% compared with 2.62% and 2.73% respectively during the same period of previous financial year.
Global and Domestic credit deposit ratio increased to 83.45% and 80.86% as on June 30, 2020 from 79.87% and 77.38% as on June 30, 2019 respectively.
Gross NPA ratio fell to 9.39% as on June 30, 2020 against 10.28% as on June 30, 2019. Net NPA ratio to 2.83% as against 3.95 % as on June 30, 2019.
Slippage ratio fell to 1.64% in Q1FY’21 compared with 3.56% in Q1FY’20. Domestic slippage ratio in Q1FY’21 is 0.45%.

PCR continues to be high. PCR including TWO at 83.30% as on June 30, 2020 compared with 77.34 % as on June 30, 2019 (81.33% as on March 31, 2020).
Amalgamation benefits visible through realization of synergies. Bank has co-located 771 branches and 113 ATMs as of Jun’20. IT integration to be complete by Mar’21.
On account of provisioning on standard accounts of INR 1,811 crore, Bank reported a Net Loss of INR 864 crore in Q1FY’21 and Consolidated Net Loss stood at INR 679 crore.
UNI XC-AND
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