Bank of Baroda's Q2FY19 standalone revenue has improved by 7.5% yoy to Rs13,430cr. Its NII for the quarter came at Rs4,492cr as against Rs3,720cr yoy, which has improved by 20.8%. The bank’s net profit was 19.7% up yoy to Rs425cr (Rs355cr in Q2FY18). Further, the bank's net profit was ahead of the consensus estimates of Rs475cr when considered other paramters like assest quality improvement, better NIMs, lower slippages, etc. Its GNPA for Q2FY19 stood at 11.8% against 12.46% qoq, which has declined by 68bps. NNPA for the quarter came at 4.86% against 5.4% qoq, which has declined by 54bps.
- The provisions for the quarter has gone up by 4.3% yoy to Rs2,429.5cr.
- Domestic CASA deposits registered a growth of 11.63 % yoy.
- Percentage of CASA deposits to Total Domestic Deposits for Q2FY19 increased to 40.48% from 39.22 % yoy.
- Domestic Deposits stood at Rs4.84 lakh cr for Q2FY19 up by 8.17% from 4.47 lakh cr as on September 30, 2017.
- Domestic advances grew by 20.37% to Rs3.37 lakh cr for Q2FY19 from Rs2.8 lakh cr yoy.
- Contribution of Bank's International Business at the end of quarter was 21.02%.
- Net Interest Margin (NIM) improved to 2.61% in September 2018 quarter from 2.34% in September 2017. NIM of international operations improved to 1.66% from 1.15% last year.
- Fresh slippage was at Rs2,281cr, lowest in seven quarters.
- Credit cost decreased to 1.31% for the quarter under review from 1.82% last year.
- Provision for NPAs at Rs1,467cr was at a nine-quarter low.
- Bank made a specific provision of Rs241cr for a financial services company. Provision for NPAs declined by 20.57% on yoy basis.
- Exposure in accounts under NCLT 1 list was Rs3,920cr and NCLT 2 list was Rs4,227cr as on September 30, 2018.
- Provision coverage under NCLT 1 and NCLT 2 list was 68.52% and 66.82% respectively.
- Capital Adequacy Ratio of the Bank at 11.88 % continues to be above regulatory norms. Tier 1 capital ratio was 10.25 % and CET 1 Capital was 9.05%.
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