Bank of Baroda Ltd. Q3FY14 Result First-Cut.
Rajesh Desai
Dear Sir/Madam,
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%.
|
Bank of Baroda Ltd. Quarterly-[INR-Crores] |
|
| |||
|
DESCRIPTION |
Q3'14 |
Q2'14 |
Q3'13 |
QoQ% |
YoY% |
|
Interest Earned |
9690.73 |
9473.45 |
8844.92 |
2.29 |
9.56 |
|
Interest Expended |
6633.59 |
6578.66 |
6004.02 |
0.83 |
10.49 |
|
NII |
3057.14 |
2894.79 |
2840.90 |
5.61 |
7.61 |
|
Other Income |
932.07 |
973.86 |
840.59 |
-4.29 |
10.88 |
|
Total Income |
3989.21 |
3868.65 |
3681.49 |
3.12 |
8.36 |
|
Operating Expenses |
1791.74 |
1744.07 |
1425.51 |
2.73 |
25.69 |
|
Operating Profit before Prov.& Cont. |
2197.47 |
2124.58 |
2255.98 |
3.43 |
-2.59 |
|
Provisions and Contingencies |
761.87 |
860.83 |
1029.31 |
-11.50 |
-25.98 |
|
PBT |
1435.60 |
1263.75 |
1226.67 |
13.60 |
17.03 |
|
Tax |
372.21 |
80.10 |
202.61 |
364.68 |
83.71 |
|
Profit After Tax |
1063.39 |
1183.65 |
1024.06 |
-10.16 |
3.84 |
|
Exceptional Items |
-15.55 |
-15.55 |
-12.44 |
- |
- |
|
Profit After Tax (excluding EI) |
1047.84 |
1168.10 |
1011.62 |
-10.30 |
3.58 |
|
Adj Calculated EPS |
24.87 |
27.73 |
23.94 |
-10.31 |
3.88 |
|
Advances |
352446.18 |
339855.27 |
299317.84 |
3.70 |
17.75 |
|
Deposits |
503771.79 |
484931.04 |
414733.40 |
3.89 |
21.47 |
|
|
Q3'14 |
Q2'14 |
Q3'13 |
QoQ (bps) |
YoY(bps) |
Capital Adequacy Ratio Basel II |
12.01% |
12.07% |
N/A |
-6 |
- |
|
% of Net NPAs |
1.88% |
1.86% |
1.12% |
2 |
76 |
|
% of Gross NPAs |
3.32% |
3.15% |
2.41% |
17 |
91 |
|
NIM % |
2.95% |
2.85% |
3.08% |
10 |
-13 |
|
Provisions Coverage% |
62.22% |
61.68% |
70.88% |
54 |
-866 |
|
C/D ratio |
69.96% |
70.08% |
72.17% |
-12 |
-221 |
|
C/I Ratio |
44.91% |
45.08% |
38.72% |
-17 |
619 |
|
OI/TI |
55.09% |
54.92% |
61.28% |
17 |
-619 |
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
--
CA. Rajesh Desai