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Bank of Baroda Rating | Reduce — Performance in quarter was stable
Posted on 1st June 2019
A steady core and curtailed incremental stress are the key characteristics of Bank of Baroda’s (BoB’s) Q4FY19 results. That said, higher provisions (due to seasoning and a markdown of a few assets) led to a loss of `9.9 bn.

Key highlights: (i) Slippages were restricted at `37.5 bn (3.3%, >30% from corporate book, largely IL&FS). Though coverage improved to about 67% and NNPLs fell to 3.3%, the exposure to DHFL, ADAG, etc. raises concern.

BoB narrows net loss to Rs 991 cr in Q4 on accelerated NPA provisioning
Posted on 23rd May 2019
Public sector lender Bank of Baroda has reported a net loss of Rs 991 crore in the last quarter of FY19, much less than the Rs 3,102-crore net loss that it reported during the same period last year.

The loss reported by the lender is on account of accelerated NPA provisioning for its telecom and IL&FS exposure. It has also provided fully for its exposure to Bhushan Steel and Alok Industries. The bank, however, had posted a profit of Rs 471.25 crore in Q3FY19.

After merger, Bank of Baroda looks at changing work culture of Dena, Vijaya
Posted on 8th May 2019
MUMBAI: As Bank of Baroda (BoB) starts aligning the businesses of erstwhile Dena Bank and Vijaya Bank with itself following the merger, it is also looking to instil a new work culture and make its management more accessible to employees.

Two senior employees from erstwhile Dena Bank and Vijaya Bank said on condition of anonymity that the BoB management has assured them that they will not be discriminated against by existing employees.

Bank of Baroda hikes MCLR by 0.05 pc
Posted on 6th May 2019
New Delhi: State-owned Bank of Baroda (BoB) on Saturday said it has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 per cent with effect from May 7.

BoB has hiked the lending rates for overnight tenor to 8.30 per cent from the previous 8.25 per cent.

PSU Banks extend gain; Andhra Bank, Indian Overseas Bank up over 5%
Posted on 1st April 2019
Shares of public sector banks (PSB) continued to trade higher with the Nifty PSU Bank index up nearly 3 per cent on hopes of margin expansion.

Andhra Bank, United Bank of India, Corporation Bank, Indian Overseas Bank, Uco Bank, Bank of Maharashtra and Syndicate Bank were up more than 5 per cent each while Punjab National Bank (PNB), Bank of Baroda (BOB), Union Bank of India, Bank of India and Indian Bank were up in the range of 2 to 3 per cent on the National Stock Exchange (NSE).

After SBI, Bank of Baroda is now India’s second largest PSU bank
Posted on 1st April 2019
Bank of Baroda (BoB) Monday became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation.

The consolidated entity started its operation with a business mix of over Rs 15 lakh crore of balance sheet, with deposits and advances of Rs 8.75 lakh crore and Rs 6.25 lakh crore, respectively.

BoB-led consortium puts Rs 2,311 crore Garden Mills loan up for sale
Posted on 15th March 2019
A consortium of lenders led by Bank of Baroda (BoB) has put on sale their exposure to Garden Silk Mills on a 100% cash basis, according to a bid document. As on February 21, the company owed Rs 2,311 crore to banks. All bank facilities of the textile manufacturer are in the default category.

“The highest bid may be further negotiated with the bidder. The lenders will have right for inter-se bidding/ Swiss challenge/ e-auction between the bidders,” the document said.

Bank of Baroda rate cut less than RBI signal
Posted on 6th March 2019
State-owned Bank of Baroda (BoB) on Tuesday cut its benchmark lending rate by 10 basis points, making home, auto and other loans cheaper for its customers, though the reduction is much less than the policy rate cut by the RBI.

The BoB thus joins other banks such as Punjab National Bank, Union Bank of India, Allahabad Bank and Kotak Mahindra Bank, who have brought down their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points.

Bank of Baroda cuts lending rate by 10 basis points; loans to be cheaper
Posted on 5th March 2019
State-owned Bank of Baroda (BoB) Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 10 basis points across all tenors up to one year.

Centre appoints Hasmukh Adhia as chairman of Bank of Baroda
Posted on 2nd March 2019
The government Friday appointed former Finance Secretary Hasmukh Adhia as chairman of state-owned Bank of Baroda (BoB).

Bank of Baroda is set to become the third largest lender of the country after amalgamation with Vijaya Bank and Dena Bank effective April 1.

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