BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Bank of Baroda reported a strong earnings performance, supported by a healthy core operating performance, despite sluggish business trends.
Domestic net interest margin improved sharply by 39 basis points QoQ to 3.12%.
Asset quality trends were stable sequentially in a challenging environment, with fresh slippage at Rs 51.3 billion (annualised slippage rate of 3.1%).
However, higher write-offs and upgrades resulted in stable asset quality trends - the gross non performing asset/net non performing asset ratio declined 1 bp/6 bp QoQ, while provision coverage ratio was broadly stable at ~68%.
Also, total special mention account- I/II declined to ~2.68%, while the restructured book stood at 3.2% of loans.
Bank of Baroda's collection efficiency (ex-Agri) was stable QoQ at 93%, better vis-a-vis many other peers.
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