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Bank of Baroda net profit rises 28% in Q1
Posted on 26th July 2019
Bank of Baroda (BoB) on Thursday reported a 28% year-on-year rise in its consolidated net profit at Rs 826.13 crore for the June quarter of 2019-20 financial year. This is the lender’s first earnings announcement after it merged Dena Bank and Vijaya Bank with itself.

In the year-ago period, Bank of Baroda’s consolidated net profit was at Rs 645.71 crore.

Bank of Baroda cut savings rate to 3.25%
Posted on 25th July 2019
India’s second largest public sector lender, Bank of Baroda, has cut its savings deposit interest rates by 25 basis points (bps) to 3.25% per annum, which is the lowest among its peers. The rate has been revised on saving accounts with balance below Rs 50 lakh and are applicable with effect from July 20. The bank last week also cut its term deposit rates across tenures; for 1-year term deposit, interest rate was cut 25 bps to 6.45% per annum.

Bank of Baroda revises fixed deposit (FD) rates. Check out the latest rates here
Posted on 24th July 2019
Public sector lender, Bank of Baroda (BoB) revised its interest rates on fixed deposits (FDs) effective 20 July 2019. Bank of Baroda offers interest rates ranging from 4.50% p.a. to 6.60% p.a. for FD with tenures ranging from seven days to 10 years. The bank has reduced the rate of interest across all maturities. FD rates of Bank of Baroda now range from 5.25% p.a. to 6.25% p.a. on deposits with a tenure of 7 days to less than one year.

Bank of Baroda to foray into e-commerce business
Posted on 11th July 2019
New Delhi: Bank of Baroda plans to launch an online marketplace to its customers offering banking services and farm-related products.

The state-owned lender has invited bids seeking a partner to supply 'digital commerce platform' to provide assistance to merchants on catalog management, purchase management fulfilment, pricing, promotion and other similar services.

Bank of Baroda down 1% post reports it has bought DHFL loans worth Rs 3k cr
Posted on 1st July 2019
Shares of Bank of Baroda (BoB) slipped 2 per cent to Rs 120 apiece in the early morning trade on Monday after reports surfaced the state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans worth Rs 3,000 crore against its exposure to the non-bank lender.

Bank of Baroda expects uptick in education loans, targets 11% market share
Posted on 21st June 2019
Even as Indian banks reported an uptick in stressed education loans, public sector lender Bank of Baroda (BoB) expects a growth in education loans portfolio during the financial year 2019-20.

According to the Indian Banks’ Association (IBA), the non performing assets (NPA) in the education vertical jumped to 8.97% in March 2018 vis-a-vis 7.29% in March 2016. The bad loans of public sector banks (PSB) in the education sector stood at 5.70% in March 2015.

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.

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