Bank of Baroda’s (BoB) global advances grew by 11.60% year-on-year to Rs 11.43 billion in the quarter ended September 30, 2024, while the state-owned financial institution’s global deposits It jumped more than 9% year-on-year to Rs 13.63. 1 billion, the company said Thursday as part of its quarterly update.
The lender’s global business grew 10.23% year-on-year to Rs 25.06 billion, according to a company filing.
These are provisional figures and the bank will release the final figures later when it releases its results for the July-September period.
Domestic advances for the reported quarter increased by 12.51% year-on-year to Rs 9.39 billion as against Rs 8.34 billion as on September 30, 2023. Domestic deposits increased by 7.14% year-on-year to Rs 11.5 million against Rs 10.74 million in the same period last year. period.
Domestic retail advances increased by 20% to Rs 2.32 billion as of September 30, 2024, compared to Rs 1.93 billion as of end-September 2023.
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BoB stock on Thursday ended 2 per cent lower at Rs 244.49 on the NSE. Bank of Baroda had reported a 10 per cent rise in standalone net profit to Rs 4,458 crore for the fiscal year ending June 2024, supported by a decline in non-performing loans. The state-owned bank had posted a net profit of Rs 4.07 billion in the same period last year. BoB has lagged the market, returning 12% in the past 12 months compared to 29% returned by the major Nifty index. Stocks have returned about 5% so far this year, compared with a 16% return for the broader index.
