:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BOB NET JUMPS 17.5%

Bank of Baroda has posted a net profit growth of 17.5% to Rs.832.49 crore for the quarter ended December 2009 compared to Rs.708.37 crore recorded in the same period of the previous year due to a modest rise in Net Interest Income (NII) and decline in treasury income.

The net profit of the bank was mainly driven by a rise in core fee income, which went up by 33.6% to Rs.230.92 crore during the reporting period. NII was up by only 9.5% during the quarter. Other income on the other hand declined by 22.07% to Rs.659.65 crore resulting in its total income coming down by 2.38% to Rs.4836.62 crore.

Profit on sale of investment came down to Rs 139 crore during the period from Rs 414 crore in the comparable period last year mainly due to rising bond yields. However, profit on sale of investment was aided by a one-time gain of Rs 69 crore during October –December of 2008-09 due to winding up of the bank’s holding in one of its subsidiaries.

Margins, however, improved sequentially due to increase in low-cost deposits. Net interest margins (NIMs) from domestic operations in the quarter stood at 3.4 per cent, up from 2.89 per cent recorded in the second quarter. Fall in cost of deposits by about 90 bps from domestic operations also helped in improving the margins.

The low-cost deposit or the current and savings account deposit (Casa) rose 24.6 per cent as of December-end, and as a result, the share of Casa to total deposits increased to 37 per cent from 36.17 per cent September-end.


Net advances increased to 23.5 per cent to Rs 1,56,171 crore as of December-end, while deposits went up by 27.6 per cent to Rs 215,117 crore. The bank is aiming for a 21 per cent increase in advances and 22 per cent increase in deposit in 2009-10.

Gross non-performing asset (NPAs) increased to Rs 2,260.27 crore as of December-end from Rs 1,921.42 crore in the year-ago period, and net NPA increased to Rs 487.68 crore from Rs 472.58 crore. However, both gross and net NPA ratios declined to 1.43 per cent from 1.5 per cent and 0.31 per cent from 0.37 per cent, respectively.

Provision coverage ratio of the bank stood at 78.42 per cent.

Posted by C.B.O.A., A.P.

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