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Bank of Baroda signs MoU with ten companies to loan Rs 500 cr
Posted on 21st July 2018
State-run Bank of Baroda signed a Memorandum of Understanding with ten companies including Uber, Oyo, Lava and Flipkart to provide loans to members in their supply chain like drivers and retailers in its efforts to raise its exposure to small enterprises.

“We want to target around 5,000 micro-entrepreneurs and spend at least Rs.500 crores in 2018-19,” said P S Jeyakumar, CEO of Bank of Baroda.

Bank of Baroda gets shareholders’ nod to raise up to Rs 6,000 cr
Posted on 14th July 2018
Public sector lender Bank of Baroda on Friday said it had received approval from shareholders to raise up to Rs 6,000 crore through equity capital by way of either qualified institutional placement (QIP), a follow-on public offer (FPO), preferential issue, rights issue, ADR-GDR, private placement, compulsorily convertible debentures or a combination of these.

Bank of Baroda invites applications for post of CFO
Posted on 11th July 2018
Bank of Baroda (BoB), the country’s third-largest public-sector bank (PSB) by assets, on Tuesday sought applications for the post of chief financial officer (CFO). The last date for sending in applications is July 31. The appointment will be for a period of three years with yearly performance reviews. The term of engagement may be extended at the option of the bank.

BoB raises MCLRs by 5 bps
Posted on 6th July 2018
Bank of Baroda (BoB) followed larger rival Punjab National Bank (PNB) in lending rate hikes, raising its marginal cost of funds-based lending rates (MCLRs) by five basis points (bps) across tenors on Thursday. The revised rates will come into effect on Saturday.

BoB’s one-year MCLR now stands at 8.5%. MCLRs for other tenures range between 8% and 8.35%. “The increase is attributed to higher cost of fund and rising interest rate scenario,” the bank said in a release.

Standing Out! A bond-trading secret that helped Bank of Baroda beat its peers
Posted on 25th June 2018
Kamal Mahajan says he’s being asked just one question: how did he make money as peers lost $4.4 billion during India’s worst bond-market rout in two decades?

The answer, according to the head of treasury and global markets at Bank of Baroda, goes back to a contrarian bet taken two years ago.

Bank of Baroda puts Rs 3k-cr exposure to NCLT accounts on sale
Posted on 22nd June 2018
Over the last week, Bank of Baroda (BoB) has put on sale non-performing assets (NPAs) worth Rs 7,655 crore, including its exposures to some accounts named in the Reserve Bank of India’s (RBI) two lists of bankruptcy cases, such as Essar Steel, Bhushan Power & Steel, Soma Enterprise and Visa Steel. BoB’s aggregate exposure to these accounts is Rs 3,004 crore.

Bank of Baroda raises one-year MCLR by 5 bps
Posted on 6th June 2018
Bank of Baroda (BoB) on Tuesday raised its marginal cost of funds-based lending rates (MCLRs) by five basis points (bps) across tenures, a days ahead of the Reserve Bank of India’s (RBI) monetary policy review. The one-year MCLR at the bank now stands at 8.45%. The new rates come into effect on Thursday.

Maintain ‘EW’ on Bank of Baroda; bad loans likely to moderate by April
Posted on 29th May 2018
Underlying trends in asset quality were good, with lower impaired loans and higher coverage – bank guided to watch list of 2.2% of loans. Core PPoP, ex one-offs, however, was 13% below MSe, driven by lower net interest income. Stay EW; we see better risk-reward at peer lenders. Slippages increased sharply QoQ, driven by change in RBI guidelines.

Bank of Baroda’s nightmarish quarter could be its worst
Posted on 28th May 2018
Public sector banks have had a nightmare of a quarter and Mumbai-headquartered Bank of Baroda (BoB) was no different. The third largest public sector lender reported a nasty loss of Rs3,102 crore for the fourth quarter of fiscal year 2018, far higher than the most pessimistic expectation of analysts.

Bank of Baroda reports Rs 3,102-cr loss in Q4
Posted on 26th May 2018
Bank of Baroda on Friday reported a net loss of Rs 3,102 crore for the three months to March 2018, owing to a more-than-doubling of its provisions on an year-on-year basis to Rs 6,672 crore in Q4.

Net interest income (NII) — the difference between interest earned and interest expended — rose 11.7% y-o-y to Rs 4,002 crore.

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