Bank of Baroda (BANKBARODA) Q3 24/25 earnings summary

Executive summary

• Net profit for Q3FY25 rose 5.6% year-over-year to ₹4,837 crore, with 9MFY25 net profit up 12.6% to ₹14,533 crore.

• Total business volume reached ₹25,65,495 crore as of December 31, 2024, with advances and deposits both growing 11.8% year-over-year, reflecting balanced and sustainable growth.

• Retail advances grew 19.5%-20% YoY, with home loans up 16.6%, auto loans up 21.1%, and corporate advances up 6.8%-7%.

• Operating profit for Q3FY25 was ₹7,664 crore, up 9.3% YoY, supported by 34.1% YoY growth in non-interest income.

• Asset quality improved with Gross NPA at 2.43% (down 65 bps YoY) and Net NPA at 0.59% (down 11 bps YoY).

Financial highlights

• Net interest income for Q3FY25 was ₹11,417 crore, up 2.8% YoY; 9MFY25 NII up 5.2% YoY to ₹34,639 crore.

• Non-interest income for Q3FY25 surged 34.1% YoY to ₹3,769 crore; 9MFY25 up 11%.

• CASA deposits grew 6.5% YoY, maintaining a CASA ratio around 40%; domestic CASA ratio at 39.68%.

• Net interest margin (NIM) for nine months was 3.08%, with global NIM at 2.94% for Q3FY25.

• Cost-to-income ratio for Q3FY25 was 49.53%, nearly flat YoY.

Outlook and guidance

• Deposit growth guidance remains at 9%-11%, advances at 11%-13%.

• NIM guidance for the full year is 3.05% ± 5 bps, with an upside bias depending on liquidity and rate environment.

• Slippage ratio guidance is 1%-1.25%, and credit cost is expected to remain below 0.75%.

• Focus on digital expansion, sustainability, and asset quality improvement.

• Collection efficiency (excluding agriculture) stood at 98.65% as of Dec 2024.