MANGALURU: Public sector lender Bank of Baroda (BoB) on Monday reported its financial results for the first quarter ended June 30, 2026, recording a 15.4% year-on-year expansion in its total global business to reach ₹30,50,457 crore, driven by double-digit growth in advances and deposits alongside steady improvements in asset quality.
The bank posted a net profit of ₹1,278 crore for the quarter, after absorbing the impact of a one-off exceptional settlement payout. Excluding this one-off item, the net profit stood at ₹5,528 crore. Return on Assets (ROA) stood at 0.25% (1.10% normalized), while Return on Equity (ROE) came in at 3.89% (16.57% normalized).
Loan Book and Deposit Trends
Global advances grew 17.4% year-on-year to ₹14,16,898 crore, supported by a 16.1% rise in domestic advances to ₹11,50,906 crore and a 23.3% surge in international advances to ₹2,65,992 crore.
The bank’s Retail, Agriculture, and MSME (RAM) portfolio rose 16.5% year-on-year, accounting for 62.9% of total advances. Organic retail advances expanded 18.4%, anchored by mortgage growth of 27.4%, auto loans at 25.3%, home loans at 14.7%, and education loans at 10.8%. Corporate advances grew 15.3% to ₹4,27,082 crore, while MSME and agriculture portfolios stood at ₹1,63,264 crore (up 20.3%) and ₹1,91,989 crore (up 18.7%), respectively.
On the liability side, global deposits increased 13.8% year-on-year to ₹16,33,559 crore. Domestic deposits rose 14.7% to ₹13,81,535 crore, with domestic CASA deposits climbing 10% to ₹5,21,149 crore. International deposits grew 8.9% to ₹2,52,024 crore.
Earnings and Margins
Net Interest Income (NII) for the quarter rose 9.5% year-on-year to ₹12,524 crore. Non-interest income stood at ₹3,470 crore, aided by treasury gains of ₹893 crore, recovery from written-off accounts worth ₹1,006 crore, and PSLC income of ₹280 crore.
Operating expenses declined marginally by 0.1% year-on-year to ₹7,868 crore, yielding an operating profit of ₹8,127 crore. Global Net Interest Margin (NIM) was reported at 2.77%, with domestic NIM at 2.93%. The cost of deposits moderated by 39 basis points year-on-year to 4.66%.
Asset Quality and Capital Position
Asset quality metrics strengthened during the quarter. The Gross Non-Performing Asset (GNPA) ratio improved by 29 basis points year-on-year to 1.99%, down from 2.28% in Q1FY26. The Net NPA ratio declined 10 basis points to 0.50%. The slippage ratio moderated to 0.91%, while credit costs eased to 0.29% from 0.55% a year prior. The Provision Coverage Ratio (PCR) stood at 93.28% including written-off accounts.
Capital adequacy remained comfortable, with the standalone Capital to Risk-Weighted Assets Ratio (CRAR) at 16.30% (CET-1 at 13.90%). On a consolidated basis, CRAR stood at 16.70%, with a Liquidity Coverage Ratio (LCR) averaging 127%.
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