Bank of Baroda (BOB) has announced its financial results for the quarter ended December 31, 2024, showcasing consistent profitability and strong asset quality. The bank reported a 12.6 per cent year-on-year (YoY) growth in its net profit for the nine months of FY25, reaching ₹14,533 crore. For Q3FY25, the net profit stood at ₹4,837 crore, marking a 5.6 per cent increase compared to the same quarter last year.
BOB’s asset quality remained robust, with Gross Non-Performing Assets (NPA) improving to 2.43 per cent, a reduction of 65 basis points (bps) YoY. The Net NPA ratio also declined by 11 bps to 0.59 per cent, reflecting the bank’s strong risk management framework. The slippage ratio was contained at 0.90 per cent for Q3FY25 and 0.81 per cent for the nine-month period, while credit costs remained low at 0.30 per cent for the quarter and 0.47 per cent for 9MFY25.
The bank’s operating profit for Q3FY25 increased by 9.3 per cent YoY to ₹7,664 crore, supported by a 34.1 per cent YoY rise in non-interest income, which stood at ₹3,769 crore. The cost-to-income ratio saw an improvement, reducing by 4 bps YoY to 49.53 per cent in Q3FY25. BOB’s return on assets (RoA) remained steady at 1.15 per cent for the quarter, while return on equity (RoE) stood at 17.01 per cent.
BOB’s lending growth was primarily driven by its retail segment, with global advances rising by 11.8 per cent YoY. The bank’s organic retail advances grew by 19.5 per cent, led by segments such as auto loans (21.1 per cent), home loans (16.6 per cent), mortgage loans (16.3 per cent), and education loans (16.9 per cent). The agriculture loan portfolio also expanded by 12.5 per cent YoY to ₹1,51,050 crore, while the total gold loan portfolio saw a significant 29.1 per cent YoY growth, reaching ₹58,172 crore.
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On the deposits front, BOB reported an 11.8 per cent YoY increase in global deposits, which stood at ₹13,92,461 crore. Domestic deposits grew by 9.2 per cent YoY to ₹11,65,874 crore, while international deposits surged by 27.3 per cent YoY to ₹2,26,588 crore. The bank maintained a healthy capital adequacy ratio (CRAR) of 15.96 per cent, ensuring strong financial stability.
BOB’s Q3FY25 results reflect steady growth across key financial parameters, reaffirming its position as a strong player in the banking sector. With continued focus on asset quality, profitability, and retail lending, the bank remains well-positioned for sustained growth in the coming quarters.
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