Bank of Baroda - Q4 Results Update.
The bank's net interest income (NII) grew 43.0% on back of strong growth in advances (34.9%), improvement in C/D ratio from 70.2% in Q4FY08 to 74.8% in Q4FY09 and improvement in liability mix.
Its net profit grew whopping 172.3% on back of robust NII growth (43.0%), strong traction in non-interest income (53.9%), lower growth in operating expenses (17.4%) and 35.5% decline in provisions & contingencies. Asset quality of the bank witnessed improvement both YoY as well as QoQ. Both gross and net NPA declined in absolute as well as in percentage terms.
The stock is a re-rating candidate due to improvement in its return profile; consequently, BoB remains one of preferred pick in the banking sector space.
Popular Posts
-
Godrej Consumer Products is developing into a good story in the FMCG space. Inorganic growth, like it's intended buy-out of Sara Lee’s... -
Sensex will hit 1 lakh mark in 5 years. Chris Wood of global brokerage firm Jefferies has said that it will only be a matter of time before... -
S tock markets worldwide have fared terribly during the year 2008. While the US declined 36%, Europe was also severely affected. While UK tu... -
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers.... -
Trading holidays for the calendar year 2023. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar ye...
