Bank of Baroda’s global business grew 10.5% on year in the second quarter to Rs 27.80 lakh crore from Rs 25.16 lakh crore in the year ago quarter, according to provisional data released by the bank. In terms of the bank’s asset and liabilities, the credit growth outpaced deposit growth in Q2.
Bank of Baroda: Credit Surge Outpaces Deposits
The bank’s global advances rose 11.9% on year to Rs 12.80 lakh crore as on September 30, while deposits grew 9.3% to Rs 15 lakh crore. Domestically, advances and deposits rose 11.5% and 9.7%, respectively. Of the domestic advances, retail loans registered a y-o-y growth of 17.6% to Rs 2.73 lakh crore.
IndusInd Bank’s advances and deposits contract
IndusInd Bank net advances down 8%.
IndusInd Bank also announced its quarterly business update, reporting a 8% on-year decline in net advances to Rs 3.27 lakh crore as on September 30. Deposits also fell by 5% to Rs 3.90 lakh crore. On a quarterly basis, net advances and deposits fell by 2% each.
The bank’s current account, savings account (CASA) ratio decreased to 30.8% in the September quarter from 35.9% in the year-ago quarter and 31.5% in the previous quarter.