InvestorQ : How do you see the Bank of Baroda stock after the latest quarter turnaround in Mar-20?
diksha shah made post

How do you see the Bank of Baroda stock after the latest quarter turnaround in Mar-20?

Answer
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Arusha Ray answered.
3 months ago


For a change, there was some cheer in PSU banks. BOB results came as a pleasant surprise as the company swung into profits for the Mar-20 quarter. BOB reported net profits of Rs.507 crore in the Mar-20 quarter compared to a loss of Rs.991 crore in the Mar-19 quarter. Net interest income or NII was up 5% in the quarter at Rs.6798 crore.

BOB also reported a sharp spike in operating profits by 47% to Rs.5121 crore in the Mar-20 quarter due to a sharp drop in operating expenses. Gross NPAs of BOB fell from 10.43% to 9.4%, which is good by PSU banking standards, as recoveries improved. The bank’s slippage ratio fell from 4.34% to just 2.97% in Mar-20 quarter hinting at better asset quality.