● Bank of Baroda (BOB) Net profit for FY2022 grows 9x to reach INR 7,272 crore
● Net profit in (Q4FY22) stood at INR 1,779 crore
● Advances grew by 8.9% YoY in FY22
● Organic Retail Advances grew by ~17%, led by growth in high focus areas such as Home Loan (11.3%), Personal Loan (108%), Auto Loan (19.5%), Education Loan (16.7%)
● Domestic CASA ratio of the bank improved by 137 bps YoY to 44.24%.
● GNPA at 6.61% a reduction of 226 bps YoY
● NNPA at 1.72% a reduction of 137 bps YoY in FY22.
● Provision coverage ratio (PCR) at 75.28% w/o TWO
● Net Interest Margins improved by 32 bps YoY to 3.03% in FY22.
● NIM for Q4FY22 was 3.08% (an increase of 36 bps compared to Q4FY21)
● Healthy Capital base – CRAR improved to 15.98% in Mar’22 from 14.99% in Mar’21
The Board of Directors have recommended a dividend of INR 1.20 per equity share (60%) for the year ended March 31 2022 (subject to necessary approvals).
- Global Advances of the Bank increased to INR 8,18,120 crore, +8.9% YoY and 6% QoQ as of Mar’22.
- Domestic Advances of the Bank increased to INR 6,84,153 crore, +6.7% YoY and 4.6% QoQ as of Mar’22.
- Global Deposits increased by 8.2% YoY to INR 10,45,939 crore. Domestic Deposits increased by 8.0% YoY to INR 9,27,011 crore in Mar’22.
- Domestic Current Account Deposits stands at INR 68,780 crore, registering a robust growth of 11.6% on a YoY basis.
- Domestic Savings Bank Deposits grew by 11.4% to INR 3,41,343 crore. Overall Domestic CASA registered a growth of 11.4% on a YoY basis.
- Organic Retail loan portfolio of the Bank grew by 16.8% led by growth in Personal loan portfolio by 108.1%, Auto loan by 19.5% and Education loan by 16.7% on a YoY basis.
- Agriculture loan portfolio grew by 10.3% YoY to INR 1,09,796 crore.
- Organic MSME portfolio grew by 5.4% YoY to INR 96,863 crore.
- Net Interest Income grew by 21.2% to INR 8,612 crore in Q4FY22 and 13.2% YoY to INR 32,622 crore in FY22.
- Fee Income for the year grew by 12.6% YoY at INR 6,409 crore and 5.8% YoY for the quarter to INR 1,848 crore.
- Operating Income for FY22 registered a growth of 5.7% YoY at INR 44,106 crore.
- Cost of Deposits reduced to 3.53% in Q4FY22 as against 3.71% in Q4FY21.
- Operating Profit for FY22 stands at INR 22,389 crore registering a growth of 5.6% YoY.
- Bank reported a standalone Net Profit of INR 1,779 crore in Q4FY22 as against a loss of INR 1,047 crore in Q4FY21.The Net Profit for FY22 increased to INR 7,272 crore in Mar’22 (777%) from INR 829 crore in FY21.
- Global NIM increased to 3.08% in Q4FY22 from 2.72% in Q4FY21.
- Return on Assets (RoA) improved to 0.60% in FY22 from 0.07% in FY21.
- Return on Equity (RoE) increased sharply by 1016 bps YoY to 11.66%
- For the consolidated entity, Net Profit stood at INR 7,850 crore in FY22 as against INR 1,548 crore in FY21.
- The Gross NPA of the Bank reduced to INR 54,059 crore in Q4FY22 from the level of INR 66,671 crore in Q4FY21 and Gross NPA Ratio improved to 6.61% in Q4FY22 from 8.87% in Q4FY21.
- The Net NPA Ratio of the Bank improved to 1.72% in Q4FY22 as compared with 3.09% in Q4FY21.
- The Provision Coverage Ratio of the Bank stood at 88.71% including TWO and 75.28% excluding TWO in Q4FY22.
- Slippages for the year was contained at 1.61%.
- Credit cost for the year was at 1.95%, however adjusted for prudential provisioning, pro-forma credit cost was 1.70%.
- CRAR of the Bank improved to 15.98% in Mar’22 from 14.99% in Mar’21. Tier-I stood at 13.49% (CET-1 at 11.74%, AT1 at 1.75%) and Tier-II stood at 2.49% as of Mar’22.
- The CRAR and CET-1 of consolidated entity stands at 16.47% and 12.34% respectively
|Particulars (INR crore)||Mar 31, 2021||Dec 31, 2021||Mar 31, 2022||YoY (%)|
|Of which, retail loan portfolio (Organic)||1,20,256||1,28,960||1,40,399||16.8|
|NIM Global %||2.72||3.13||3.08|
Financial results for year ended 31st March 2022
|Particulars (INR crore)||FY21||FY22||YoY (%)|
|Net Interest Income (NII)||28,809||32,622||13.2|
|Total Provisions (other than tax) and contingencies||15,643||13,002||-16.9|
|of which, Provision for NPA Bad Debts Written-off||12,408||14,640||18.0|
|Profit before Tax||5,556||9,387||69.0|
|Provision for Tax||4,727||2,114||-55.3|
*Growth in operating profit for FY’22 excluding revaluation of investment would have been 13.1%.
Financial result for Quarter ended 31st March 2022
|Particulars (INR crore)||Q4FY21||Q3FY22||Q4FY22||YoY(%)|
|Net Interest Income (NII)||7,107||8,552||8,612||21.2|
|Total Provisions (other than tax) and contingencies||3,555||2,506||3,736||5.1|
|of which, Provision for NPA Bad Debts Written-off||4,593||4,283||5,200||13.2|
|Profit before Tax||2,680||2,976||1,899||-29.1|
|Provision for Tax||3,726||779||120||-96.8|
|Particulars||Mar 31, 2021||Dec 31, 2021||Mar 31, 2022|
|Gross NPA (%)||8.87||7.25||6.61|
|Net NPA (%)||3.09||2.25||1.72|
|PCR (with TWO) (%)||81.80||85.95||88.71|