Bank of Baroda Q4 outcomes: Lender reports net loss of Rs 1,047 cr on sharp rise in NPA provisions

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Bank reported improvement in performance in terms of asset quality, CASA deposits, profitability and capital. Bank’s Gross NPA ratio is now at 8.87% as of Mar’21 from 9.40% as of Mar’20. Slippage ratio declined to 2.71% in FY21 from 2.97% in FY20 led by domestic slippage ratio which declined to 2.08% in FY21 compared to 3.16% in FY20. Domestic CASA deposits increased by 16.48% YoY and Domestic CASA ratio is now at 42.87%, an increase of 3.8% YoY. Domestic advances increased by 4.91% YoY led by organic retail and agriculture loans which grew by 14.35% and 13.22% respectively.

Highlights

  • Domestic CASA ratio increased to 42.87%, up by 380 bps YoY. Domestic cost of deposits further declined by 110bps YoY to 4.10% in Q4FY21.
  • Domestic advances increased by 4.91% YoY led by domestic organic retail and agriculture loans which grew by 14.35% and 13.22% respectively. Within retail loans, auto loans increased by 27.79% YoY and personal loans grew at 27.21% YoY.
  • NII increased to Rs 7,107 crore in Q4FY21 compared to Rs 6,798 crore a year ago, an increase of 4.54%. For FY21, net interest income grew at 4.95% YoY.
  • Non-interest income for Q4FY21 is up by 71.01% YoY to Rs 4,848 crore and increased by 19.84% for FY21 to Rs 12,364 crore. Recovery from TWO increased to Rs 2,040 crore in Q4FY21 as against Rs 280 crore in Q4FY20. 
  • Operating Profit for Q4FY21 is Rs 6,266 crore registering an increase of 27.30% YoY. For FY21, operating profit was Rs 20,630 crore, an increase of 9.17%
  • Gross NPA ratio fell to 8.87% as on Mar 31, 2021 against 9.40% as on Mar 31, 2020 and Net NPA ratio to 3.09% as against 3.13% as on Mar 31, 2020. Slippage ratio declined to 2.71% in FY21 from 2.97% in FY20. Credit cost decreased to 1.68% in FY21 from 2.35% in FY20.
  • Bank reported a Profit Before Tax of Rs 2,680 crore for Q4FY21 on a standalone basis. Bank moved to new tax structure thus reporting a loss of Rs 1,047 crore because of DTA reversal. .

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