{"id":21615,"date":"2022-02-06T19:03:11","date_gmt":"2022-02-06T13:33:11","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-bank-of-baroda-loans\/"},"modified":"2022-02-06T19:03:11","modified_gmt":"2022-02-06T13:33:11","slug":"biz-bank-of-baroda-loans","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-bank-of-baroda-loans\/","title":{"rendered":"Bank of Baroda sees loan growth of 7-10 pc in FY22"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2512508006\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Feb 6 (PTI) State-owned Bank of Baroda (BoB) said it is on track to achieve a loan growth of 7-10 per cent in the current financial year and expects advances to grow 10-12 per cent in the financial year 2022-23, its Managing Director and CEO Sanjiv Chadha said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2100525875\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> In the quarter ended December 2021, the lender&#8217;s gross domestic advances grew 3.36 per cent year-on-year (y-o-y) to Rs 6,54,315 crore. However, on a sequential basis, domestic loan growth stood at five per cent.<\/p>\n<p> Chadha said that as far as advances are concerned, the bank had seen some challenges in the first quarter due to the impact of the COVID-19 pandemic but there has been some improvement second quarter onwards.<\/p>\n<p> &#8220;We had guided (at the beginning of fiscal) that we would want to grow our loan book between 7-10 per cent, similar to the industry growth rate. Our stance was to grow as per industry but making sure that we don&#8217;t compromise on our margins. I think we are largely delivering on that,&#8221; Chadha told PTI.<\/p><div class=\"trade-content_5\" id=\"trade-444690777\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> As far as next year (fiscal 2023) is concerned, the bank believes that the overall credit growth for the system will be 10-12 per cent. &#8220;We might want to target a loan growth at least at that level or better while making sure that our margins remain there or better,&#8221; he added.<\/p>\n<p> The bank is seeing the acceleration in growth in key loan products particularly both on the corporate side and home loan, which is the mainstay for retail loans, he said.<\/p>\n<p> In the three months ended December 2021, retail loans grew 11.13 per cent to Rs 1,28,960 crore. This was driven by a y-o-y growth of 46.39 per cent in the personal loan portfolio, 20.54 per cent in auto loans and 13.86 per cent in education loans. Home loan book registered a tepid growth of 6.57 per cent.<\/p>\n<p> Corporate advances growth was muted at Rs 2,90,601 crore in Q3 FY2022, against Rs 2,90,368 crore in the year-ago period. On a sequential basis, the book grew 6.42 per cent.<\/p>\n<p> &#8220;Going ahead, we expect corporate growth also to start contributing in a bigger manner and, within retail growth, home loans to accelerate,&#8221; Chadha said.<\/p>\n<p> The lender&#8217;s standalone profit after tax doubled to Rs 2,197 crore in the quarter ended December 2021 from Rs 1,061 crore in the same quarter of the previous fiscal.<\/p><div class=\"trade-content-10\" id=\"trade-277417346\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Chadha attributed this surge in profit to the healthy growth of 14.38 per cent in net interest income (NII) and 15.50 per cent in fee income.<\/p>\n<p> The gross non-performing asset (GNPA) ratio declined to 7.25 per cent from 8.48 per cent and net NPA reduced to 2.25 per cent from 2.39 per cent.<\/p>\n<p> The bank expects this improvement in asset quality to continue going ahead.<\/p>\n<p> Fresh slippages in the quarter stood at Rs 2,830 crore and recovery was to the tune of Rs 2,032 crore.<\/p>\n<p> The bank had set a full-year recovery target of Rs 14,000 crore and it has already achieved it, Chadha said.<\/p>\n<p> The bank&#8217;s restructuring under Covid 1.0 and 2.0 stood at Rs 7,716 crore and Rs 6,732 crore, respectively. PTI HV  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-319420655\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Feb 6 (PTI) State-owned Bank of Baroda (BoB) said it is on track to achieve a loan growth of 7-10 per cent in the current financial year and expects advances to grow 10-12 per cent in the financial year 2022-23, its Managing Director and CEO Sanjiv Chadha said. In the quarter ended December 2021, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-21615","post","type-post","status-publish","format-standard","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of Baroda sees loan growth of 7-10 pc in FY22 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-bank-of-baroda-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Baroda sees loan growth of 7-10 pc in FY22\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Feb 6 (PTI) State-owned Bank of Baroda (BoB) said it is on track to achieve a loan growth of 7-10 per cent in the current financial year and expects advances to grow 10-12 per cent in the financial year 2022-23, its Managing Director and CEO Sanjiv Chadha said. 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