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Bank of Baroda

admin — Tue, 28 Sep 2010 03:33:54 +0000

The government is looking at second tranche of capital infusion this financial year. Bankers have told that the government could be looking at increasing the stake in those public sector banks with shareholding of upto 55%, reports CNBC-TV18 Gopika Gopakumar.

The beneficiaries of this move of the government are likely to be Union Bank, Bank of Baroda, Dena Bank, Oriental Bank of Commerce and Andhra Bank as all of them have less than 55% shareholding.

Bankers say that Union Bank is expected to get capital infusion of Rs 1500 crore, BoB Rs 2500 crore and Dena Bank Rs 600 crore. It is learnt that capital infusion will be in the form of preferential allotment. The first tranche of capital infusion was in June this year.

26% growth in global business – Bank Of Baroda

admin — Wed, 27 Jan 2010 12:27:45 +0000

26% growth in global biz; CASA grew by 25%, CASA ratio at 36.1%; saw NPA slippages of Rs 363 Cr in Q3; restructured assets at Rs 4,800 Cr, under control: Bank Of Baroda

MD Mallya, CMD of Bank Of Baroda said that there was a growth of 26% in global business. CASA grew by 25% and CASA ratio stood at 36.1%. NIM improved to 3.4% in Q3FY10. The bank saw NPA slippages of Rs 363 crore in Q3FY10. Gross NPA stood at 1.4% while net NPA stood at 0.3%. Treasury income has been low in Q3FY10. The bank restructured assets of Rs 4800 crore and are under control.

Bank Of Baroda Q3FY10 NII (YoY) stood up 9.54% at Rs 1,601.2 crore Vs Rs 1,461.8 crore and net profit stood up 17.52% at Rs 832.5 crore Vs Rs 708.4 crore

Sell Bank of Baroda| target Rs 450- Karvy

admin — Wed, 20 Jan 2010 12:56:38 +0000

“We expect Bank Of Baroda to report 9% (YoY) decline in net profits to Rs 6,435 million primarily on account of lower treasury profits. The bank had booked Rs 4.2 billion in 3QFY2009 as treasury gains and we expect the bank to report only Rs 1.3 billion in this segment in 3QFY2010. We are retaining our sell recommendation with target price of Rs 450 as we would seek further clarity on BOB’s Dubai exposure and the likely provisions that the bank may have to undertake in that region,” says Karvy Stock Broking report.

Buy BOB, target of Rs 295: Karvy Stock Broking

admin — Thu, 26 Mar 2009 11:29:15 +0000

Karvy Stock Broking has maintained its buy rating on Bank Of Baroda with a price target to Rs 295 in its March 26, 2009 research report.

“We are revising our FY2009 restructured standard assets from Rs 3.8 billion to Rs 30 billion as we believe that BOB’s corporate loan portfolio has deteriorated and many of the bank’s corporate customers have requested for restructuring their standard loans. As aresult our ABV for FY2009 has been revised downwards to Rs 257 from our earlier estimate of Rs 302 and our FY2010 ABV has been revised to Rs 321 from Rs 368. We are downgrading our price target to Rs 295 from Rs 335 to factor the deteriorating economic environment. We continue to maintain our Buy recommendation,” says Karvy Stock Broking’s research report.