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The bank reported a 5.6% YoY increase in its net profit for Q3FY25, reaching INR 4,837 crore, and a 12.6% rise in net profit for the nine months of FY25, amounting to INR 14,533 crore.
Wednesday, the Reserve Bank raised the benchmark policy rate by 25 basis points, bringing it to 6.5 percent. They did this because core inflation is still going up.
Meanwhile, the India index has seen two stock additions and one company cancellation.
The marginal cost of funds-based lending rate, often known as the MCLR, is the lowest possible rate of interest at which a bank is allowed to lend money, with a few exceptions.
The bank's provisions decreased during the quarter, while asset quality significantly improved. Additionally, the organic retail loan portfolio witnessed sound expansion with strong personal loan book performance. In general, deposits and advances grew significantly in Q2FY23.
Bank of Baroda released a new notification for its customers regarding the new rules of cheque payment which is effective June 1, 2021.