Bank of Baroda reported double-digit deposit and loan growth in both domestic and global business in the third quarter of the current financial year.
Global business of the state-owned bank grew by 12% year-on-year to Rs 28.9 lakh crore in the October-December period, as per provisional business updates disclosed on Sunday.
Global advances grew by 14.6% to Rs 13.44 lakh crore and deposits jumped 10% to Rs 15.47 lakh crore. On a sequential basis, loan book growth stood at 5.1%.
Domestically, the loan book expanded 13% to Rs 10.95 lakh crore, and deposits surged 11% to Rs 13 lakh crore. The state-owned lender's domestic retail advances, excluding pool purchases, surged 17.3% to Rs 2.85 lakh crore.
The Gujarat-based PSU bank has guided for 11-13% credit growth for FY26, driven largely by the retail and MSME segments. It is the second-largest state-owned bank in India in terms of assets and market capitalisation.
Shares of Bank of Baroda settled 1.43% higher at Rs 305.05 on the BSE on Friday, compared to a 0.7% rise in the benchmark Sensex. The stock has risen 35% in the last 12 months.
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