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Bank of Baroda conducted a conference call 31 July 2024 to discuss the financial results for the quarter ended June 2024. Devdutt Chand, MD&CEO of the bank addressed the call:
Highlights:
The bank has recorded moderate growth in advances compared with the guidance. The global loan book of the bank grew 8.1% with domestic loan growth at 8.5% and overseas loan growth at 6.5% end June 2024.
The bank has continued to reduce the low yielding loans leading to impact on loan growth.
The deposit growth has been above loan growth at 8.9% end June 2024, while the bank has reduced dependence on bulk deposits.
The domestic CASA deposits ratio remained above 40% end June 2024.
The bank witnessed decline in the yield on advances while the cost of deposits has remained stable in Q1 FY2025.
Asset quality would be focus area of the followed by profitability and growth.
The bank is targeting loan growth of 12-14% for ...
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