Citi has reiterated its Buy rating on Bank of Baroda, raising optimism with a target price of ₹310 — implying a potential upside of approximately 27% from the current market price of ₹243.30.
According to the brokerage, the bank’s Q1FY26 profit of ₹45.4 billion was in line with estimates. A modest 7 basis point dip in net interest margins and ₹18.8 billion in treasury gains helped neutralize the impact of elevated credit costs at 66 basis points and modest fee income.
Looking ahead, Citi expects FY26 NIMs to remain around Q1 levels, with credit costs stabilising between 0.6%–0.7% over FY26–27E.
Disclaimer: This article is based on Citi’s brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.