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New Indian Express
06-05-2025
- Business
- New Indian Express
Bank of Baroda sees over 10% slump in share price after announcing muted earnings in Q4
MUMBAI: The share price of Bank of Baroda plunged by over 10% at close on Tuesday after tanking 15% intra-day as the second largest public sector lender reported a muted set of numbers. Earnings inched up a mere 3.3% to Rs 5,048 crore on-year in the March quarter, that too with the help of lower tax outgoes and a massive valuation gain in its forex trading book. Despite above average loan sales, the lender's core income declined 6.6% to Rs 11,020 crore. Though the management led by chief executive Debadatta Chand and chief financial officer Manoj Chayani tried to talk up the shares in their opening remarks at the earnings presser here this afternoon, the damage could not be contained and the counter saw deep cuts to the tune of 10.3% to close at Rs 223.65 on the BSE. The muted bottom line was helped by a steep 20.1% decline in taxes to Rs 1,533 crore from Rs 1,745 crore in the year-ago period. Similarly, the provisions for bad loans also declined 12.7% to Rs 1,297 crore, taking the total provisions and contingencies, lower by 19.2% to Rs 1,552 crore. During the quarter, the bank's total income increased to Rs 35,852 crore, from Rs 33,775 crore a year ago of which the interest income grew to Rs 30,642 crore, from Rs 29,583 crore but the core net interest income (NII) declined 6.6% to Rs 11,020 crore, from Rs 11,793 crore in the same period a year ago, Chayani said. Other income was the biggest contributor to the bottom line as it soared 24.3% to Rs 5,210 crore boosted by a doubling of the treasury income to over Rs 1570 crore from Rs 740 crore a year ago and a Rs 364 crore valuation gains in the forex book as against a Rs 37 crore net loss a year ago.
Business Recorder
06-05-2025
- Business
- Business Recorder
India's Bank of Baroda expects margin pressure to persist for two more quarters
BENGALURU: India's Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal, after a drop in fourth-quarter margins and core lending income sent its shares tumbling over 10% on Tuesday. The company's net interest income, or the difference between interest earned on loans and paid on deposits, fell to 110.20 billion rupees ($1.31 billion) for the quarter ended March 31 from 117.93 billion rupees a year earlier. Its domestic net interest margin dropped to 3.02% from 3.45% earlier. CEO Debadatta Chand said at a press conference that the state-owned lender anticipates margin pressure to persist for the first two quarters of this fiscal year, which started on April 1. He did not provide details. Shares of Bank of Baroda, India's third-largest state-run lender by assets, fell more than 10% after the results. The stock was the biggest loser on the Nifty PSU bank index, which settled nearly 5% lower. Indian lenders have grappled with tighter liquidity conditions for the last few quarters, forcing them to pay higher interest to attract customer deposits. Bank of Baroda's interest paid on deposits jumped 10% compared to a 3.3% rise in interest earned on loans. Domestic cost of deposits jumped to 5.33% from 5.11% a year earlier. The lender's cost of deposits peaked in the fourth quarter, CEO Chand said. 'These are weak results from Bank of Baroda, said Anand Dama, head of BFSI at Emkay Global Financial Services, with 'margins and slippages disappointing investors.' Fresh slippages, or loans classified as bad for the first time, rose to 28.73 billion rupees during the quarter from 28.55 billion rupees a year earlier and 25.03 billion rupees in the previous quarter.
Time of India
24-04-2025
- Business
- Time of India
Bank of Baroda aims to achieve net-zero target by 2057
Bank of Baroda has announced its Environment, Social, and Governance (ESG) policy and aspiration to achieve net-zero emissions by 2057. The move reinforces the bank's long-standing commitment to promoting responsible and sustainable banking practices, mitigating ESG risks and seizing opportunities for a low-carbon future, Bank of Baroda said in a release. "In line with the theme for Earth Day 2025 , 'Our Power, Our Planet', that highlights the importance of renewable sources of energy, Bank of Baroda would prioritise financing to renewable energy," it said. In its efforts to contribute towards a greener planet, the bank has also planted over 30,000 trees in 2025 till date on behalf of its customers for every auto and home loan disbursed under its 'Plant a Tree' programme. "The unveiling of our ESG policy and our net-zero commitment is a reflection of the importance that the bank places on being a responsible corporate citizen - through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance," said Debadatta Chand, Managing Director and CEO, Bank of Baroda. The bank said it has introduced a range of sustainable finance products such as Green Deposits, Residential Rooftop Solar Loan Scheme and the Green Hydrogen Financing Scheme.
The Hindu
23-04-2025
- Business
- The Hindu
Bank of Baroda unveils environment, social, governance policy
Bank of Baroda marked Earth Day 2025 on Tuesday by unveiling its environment, social, and governance (ESG) policy and its aspiration to achieve net zero emissions by 2057. In line with the theme for Earth Day 2025, 'our power our planet', that highlights the importance of renewable sources of energy, the bank will prioritise financing for renewable energy. In its efforts to contribute towards a greener planet, the bank has also planted over 30,000 trees in CY 2025 till date on behalf of its customers for every auto and home loan disbursed under its 'plant a tree' programme. Debadatta Chand, managing director and CEO of the bank, said on the occasion: 'The unveiling of our ESG policy and our net zero commitment is a reflection of the importance that the bank places on being a responsible corporate citizen – through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance. Our goal is to embed ESG practices into the core of our strategy and operations.' The bank has introduced a range of sustainable finance products such as green deposits, residential rooftop solar loan scheme, and the green hydrogen financing scheme. On Earth Day, the bank launched a dedicated 'BOB Earth' web space to showcase its sustainability initiatives and is undertaking a 'green financing' training and capacity building workshop to create awareness amongst employees, a release by the bank said.
Time of India
23-04-2025
- Business
- Time of India
Bank of Baroda aims to achieve net-zero target by 2057
Bank of Baroda has announced its Environment, Social, and Governance (ESG) policy and aspiration to achieve net-zero emissions by 2057. The move reinforces the bank's long-standing commitment to promoting responsible and sustainable banking practices, mitigating ESG risks and seizing opportunities for a low-carbon future, Bank of Baroda said in a release. "In line with the theme for Earth Day 2025 , 'Our Power, Our Planet', that highlights the importance of renewable sources of energy, Bank of Baroda would prioritise financing to renewable energy," it said. In its efforts to contribute towards a greener planet, the bank has also planted over 30,000 trees in 2025 till date on behalf of its customers for every auto and home loan disbursed under its 'Plant a Tree' programme. "The unveiling of our ESG policy and our net-zero commitment is a reflection of the importance that the bank places on being a responsible corporate citizen - through contributing meaningfully to the environment, promoting social well-being, and maintaining the highest standards of governance," said Debadatta Chand, Managing Director and CEO, Bank of Baroda. The bank said it has introduced a range of sustainable finance products such as Green Deposits, Residential Rooftop Solar Loan Scheme and the Green Hydrogen Financing Scheme.
