Bank of Baroda Ltd - Q3FY14 Result First-Cut - Microsec

Bank of Baroda Ltd. announced its Q3FY14 result on 6th February 2014.

The Bank's total income increased by 3.12% QoQ and 8.36% YoY to INR3989.21 crores. Whereas, Profit After Tax (PAT) decreased by 10.30% QoQ while, increased by 3.58% YoY to INR1047.84 crores. During the quarter, the Bank has decreased its provisions by 11.50% QoQ and 25.98% YoY to INR761.87 crores, which has supported its profitability.

The Bank's loans book and total deposits expanded by 17.75% and 21.47% YoY to INR352446.18 and INR503771.79 crores respectively. On the asset quality front, Gross NPA and Net NPA increased by 17bps and 2bps QoQ to 3.32% and 1.88% respectively. However, the Bank has improved its Net Interest Margin (NIM) by 10bps QoQ to 2.95%. The Bank's Basel III Capital Adequacy Ratio (CAR) stood at 12.01%, which is 301bps higher than the regulator's stipulated norm. Provision Coverage Ratio (PCR) stood at 62.22%.

Source : Equity Bulls

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