Bank of Baroda

“So, obviously, on the slack season, we have two very strong quarters. Obviously, busy season, we normally do better. So, obviously, the natural outcome is to upsize the guidance.”

“As on today, if I look at the pipeline, almost we have INR 60,000 crore plus pipeline with us with regard to, I mean, to be processed not sanctioned, sanctioned not disbursed, so there is a strong pipeline.”

“Our organic retail book grew by 18.6%, agricultural loans by 19% and organic MSME by 21.3%. Corporate loans have grown by 6.3% YoY.”

“The core corporate has grown almost by 12%. The mid-corporate has grown by almost 26%.”

“And for that reason, you would have seen a lower corporate growth because we have been very sensitive with regard to the pricing in the system and, consequently, what we charge to our customer.”

“Gold, as you say, on an incremental scale, if you look at the YTD on the retail gold, we have degrown. And, the Agri Gold is a stable gold business, which is quarter-to-quarter growing at 8%.”

“MSME, the demand is very strong supported by a couple of government initiatives with regard to the guarantee scheme and all those.”

“In that way, I think a stronger growth going to be in Q3 and Q4.”

“Actually, we are relooking at the entire fee structure of ours. So, in the next two quarters, I think there should be an upside in this area, Sir.”

“Fee income, as you said right, I mean Q1 was a depressed one but we have pulled back. Still we are lower than the Q2 of last year.”

“Our non-MCLR book in the corporate also, we have significantly repriced this advances in the recent past, like this September quarter. The full benefit of that is going to be felt in December quarter.”

“as on today we have almost 10% of the Operating Profit earmarked for IT, and we have said the IT department ‘You can go up to 15%’.”

“With regard to key ratios, our Yield on Advances increased by 4 bps sequentially and stands at 7.41 % for the quarter.”

“True to our billing of India's international bank, the FCNR(B), we have received a strong response on the FCNR(B) almost to the extent of USD 8.08 billion.”

“So, we have mobilized USD 8.08 billion of FCNR(B) deposit and 70% of that would have been a leverage, I mean, advances which would have come as a deposit therein.”

“almost INR 74,000 odd crore, INR 75,000 crores, mostly that we have stored liquidity at some, I mean some form. And that is going to be utilized in the December quarter and March quarter.”

“So, the bulk deposit has seen some around INR 10,000 crores of reduction as on today as you speak for September.”

“If the bulk deposit market gets into very elevated rate structure, obviously this deposit would be used towards liquidating those high cost, I mean, on reprice the elevated bulk rate. So, obviously, can be utilized towards that. If not, it can go to the credit need.”

“But as on today, we have raised USD 1.1 billion, we have a mandate up to USD 4 billion and the window is still till December.”

“But then, obviously, the pricing is not right at this stage.”

“Again, we want to take the card company to the next level. We are putting some new strategy, the new vehicle therein, so that we can have a significant growth in the card business.”

“In domestic market, we are in discussions with a couple of possible potential transactions. We have announced our partnership with one Japanese bank, Mizuho.”

“entities that we announced earlier also, BOB Securities and Giltedge Limited on the PD business and the DCM business, and the pension fund business.”

“The NSE sale of INR 1,349 crores was a cash profit that we got. At the same time, there is a valuation gain.”

“NSE, the full impact of both the cash profit and also revaluation, you said right, it is roughly around INR 3,600 some odd crore. Out of INR 3,600 crores, INR 1,600 crore is a prudential provisioning that we have done in this quarter”

“So, roughly around INR 1,300 crores of provisioning we have taken in on the NPA standard asset. These are the need-based specific prudential provisioning,”

“plus roughly INR 300 crore of provisioning we have taken in the contingency provisioning, typically to take care of the fluctuation in the bond prices and the equity prices in the investment book.”

“No, as far as IT refund this quarter, I believe it is only INR 290 crore, right.”

“One-time impact, last time we said it would be almost like 125 bps, right. And that roughly translates to INR 12,500 crore on a thumb rule basis.”

“So, gross we expect the credit cost can go up to the extent of 30-35 bps and net we can expect between 20-25 bps.”

“Earlier also we said, within our guidance we will be in a position to absorb the impact of the ECL.”

“USD 350-USD 400 million would be the interest component per year, right.”

“So, the balance, that we need to think of hedging or something else, is 30%.”

“Our net profit for the quarter grew by 35.8% YoY and stands at INR 6,532 crores. Again, this is the highest ever quarterly profit posted by the Bank.”

“With regard to our quarterly profitability metrics, our operating profit for the quarter stands at INR 11,430 crores, registering a growth of 50.9% YoY.”

“Our global advances have grown by 18.3% YoY, with domestic advances growing by 13.5% and international advances growing by 39.7%.”

“the global deposit growth was at 11.2% and the advances growth was at 13.5%, which is precisely in line with the guidance that we had given 10 to 12% for deposits and 12 to 14% for advances”

“So, I think INR 2,500 crores is already a floating provision we are holding in the books.”