Bank of Baroda - First Cut Analysis - Microsec Research

Bank of Baroda has announced its Q4FY12 along with Annual FY12 result on 4th May 2012.

On the quarterly basis, the bank's total income is down by 2.88% QoQ and up by 7.16% YoY to INR3695.19 crores mainly, because of decline in other income by 21.89% sequentially to INR897.79 crores. Profit After Tax (PAT) is increased by 17.70% QoQ and 17.29% YoY to INR1518.18 crores. For the whole year of FY12, the bank's total income is increased by 18.33% YoY to INR13739.34 crores while, Profit After Tax (PAT) is increased by 18.03% YoY to INR5006.96 crores.

The bank has reported a growth in advances by 10.25% QoQ and 25.67% YoY to INR287377.29 crores and a growth in deposits by 10.21% QoQ and 26.01% YoY to INR384871.11 crores. On the assets front, the bank's assets quality is still a matter of concern, the NNPA and GNPA are increased by 19 and 17bps YoY to 0.54% and 1.53% respectively. The Capital Adequacy Ratio (CAR) of the bank stood at 14.67%, which is 5.67% more than the regulator's stipulated norm. Moreover, the bank is in well position to tame any time liabilities with 80.05% of its Provision Coverage Ratio (PCR).

The Board of Directors have recommended a dividend of Rs.17 per equity share for the financial year ended 31 March 2012.

Source : Equity Bulls

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