Bank of Baroda (BANKBARODA)

Bank of Baroda Reports In-Line Q4FY24 Results; Aims to Grow Advances in FY25 - 16 May, 2024

Bank of Baroda is aiming to grow its overall advances by 12-14% in FY25, with a focus on retail growth. The bank also reported in-line Q4FY24 results, with a 2% YoY increase in PAT driven by higher other income. Two top executives have resigned, reflecting the bank's shift towards promoting internal talent.

Analysts Bullish on Bank of Baroda Stocks - 15 May, 2024

Bank of Baroda's stock has risen by around 3.55% in the last month, with Axis Securities and Anand Rathi recommending a buy rating with target prices of Rs 340 and Rs 294 respectively. The bank's strong profitability, improved asset quality, better margins, and sustained RoA are cited as reasons for optimism.

Bank of Baroda Receives Positive Recommendations from Analysts - 14 May, 2024

Bank of Baroda receives positive recommendations from analysts, including a 'Buy' rating from Prabhudas Lilladher with a target price of Rs. 290, and a buy call from a brokerage firm with a 12-month target price of ₹350.

Bank of Baroda Stock Receives Positive Ratings from Brokerages After Steady Growth in Loans and Net Profit. - 13 May, 2024

Bank of Baroda (BoB) receives positive ratings from JP Morgan, Jefferies, City, and HSBC after posting steady growth in loans and net profit for Q4FY24. The bank's asset quality remains resilient, and India Infradebt Limited, in which BoB has a 41% stake, plans to raise Rs 1,000 crore through bonds. Morgan Stanley maintains an equal-weight rating on the counter with a target price of Rs 280 per share.

Bank of Baroda Plans to Double Total Business - 12 May, 2024

Bank of Baroda reported strong FY 2024 earnings with an EPS of ₹36.29 and revenue growth of 17%. The bank also announced plans to double its total business to ₹48 lakh crore in the next five years.

Bank of Baroda Targets Recovery and Upgrades Amid Heat Conditions - 11 May, 2024

Bank of Baroda is targeting Rs 10,000 crore of recoveries and upgrades in the current financial year while aiming to lower gross and net NPA ratios. A Bank of Baroda report has stated that severe heat conditions in India may impact food prices, but green shoots are visible in higher auto sales and electricity demand.

Bank of Baroda Reports Rise in Net Profit and Recommends Dividend - 10 May, 2024

Bank of Baroda reported a 2.3% rise in net profit for Q4FY24 and recommended a dividend at Rs 7.60 per equity share. The bank's gross NPAs moderated to 2.92%, while net NPAs declined to 0.68% in the same quarter. For FY24, the bank's net profit increased by 26% YoY.

RBI Lifts Ban on BoB Mobile App; Analysts Expect Marginal Decline in NII for Q4FY24 - 09 May, 2024

Bank of Baroda's stock surges as RBI lifts ban on its mobile app, BoB World, allowing it to onboard new customers. Analysts predict a marginal decline in net interest income for Q4FY24, while QoQ net profit is expected to drop around 4%. However, YoY net profit could decline up to 8% due to soft loan growth.

Bank of Baroda Can Resume Onboarding Customers Through BoB World App - 08 May, 2024

The Reserve Bank of India has lifted restrictions imposed over six months ago due to supervisory concerns and granted permission to Bank of Baroda to resume onboarding new customers through its Bob World application. The bank can now onboard customers through the app in accordance with applicable guidelines and existing laws and regulations.

State-Owned Lenders' Shares Fall on RBI's Draft Rules - 07 May, 2024

Shares of state-owned lenders, including Bank of Baroda, continued to fall for the second day in a row after the Reserve Bank of India proposed tighter rules for project financing. The market capitalisation of Bank of Baroda fell by Rs 11,000 crore since the beginning of May. These four banks contributed almost 60% to the fall of the Nifty PSU Bank index.

Bank of Baroda Shares Fall After RBI Proposal; Marshall Wace Sells Stake - 06 May, 2024

Bank of Baroda shares witnessed sharp selling pressure after the Reserve Bank of India proposed tighter project finance norms. Additionally, British hedge fund Marshall Wace sold its stake worth ₹853 crore in Bank of Baroda.

Premji Invest in Talks to Acquire Majority Stake in Nainital Bank - 03 May, 2024

Wipro founder Azim Premji's family office, Premji Invest, is reportedly in advanced talks to acquire a majority stake in Bank of Baroda subsidiary Nainital Bank. The deal would value the bank at around Rs 800 crore and BoB is expected to divest its entire 98% shareholding.

Bank of Baroda in Talks for Loans with Vodafone Idea - 02 May, 2024

Bank of Baroda is set to provide loans worth $1.8 billion to Vodafone Idea over the next two years while a recent study by the bank reveals that nearly half of all new jobs created in India's service sector are in IT, banking, and finance.

Bank of Baroda Stock Shows Positive Signs - 29 Apr, 2024

Bank of Baroda's largest shareholder, India, saw an increase in their holdings value. Technical analysis suggests that the stock is showing positive signs and may be on the verge of a breakout.

Bank of Baroda Faces RBI Wrath; Stock Rises - 25 Apr, 2024

Bank of Baroda faced regulatory action when RBI barred it from adding new customers on its mobile app citing supervisory concerns. However, the stock rose by 2.87% during the day, with analysts recommending buying with a target of Rs 285-295.

Societe Generale Buys Stake in Bank of Baroda - 24 Apr, 2024

Societe Generale has purchased a stake in Bank of Baroda while the bank delivered strong returns over the past year and saw growth in revenue from operations.

Bank of Baroda Stock Affected by Share Sales - 23 Apr, 2024

Bank of Baroda's stock price was affected after Marshall Wace sold shares worth Rs 2,365 crore and Societe Generale acquired a 0.63% stake at Rs 261.3 per share.

Bank of Baroda Board to Consider Capital Raising Proposal - 18 Apr, 2024

Bank of Baroda is considering raising capital for the fiscal year 2024-25 through various modes. The Reserve Bank is not expected to take any rate action until August.