BANK OF BARODA : Latest Quarterly Results Analysis

Bank reported a standalone Profit before Tax of Rs 1,595 crore in Q1FY22 and Net Profit of Rs 1,209 crore. For the consolidated entity, Profit before Tax and Net Profit stood at Rs 1,611 crore and Rs 1,187 crore respectively. Non-interest income during Q1FY22 increased by 63.4% YoY to Rs 2,970 crore boosted by fee income which increased by 28.0%. Non-fee income increased by 128.4% YoY led by trading gains and recovery from TWO.

Also, conducting the home loan business through a housing finance company allows more efficient use of capital. Goldman Sachs Group Inc missed Wall Street estimates for quarterly profit as it took heavy losses from high-profile investments in WeWork and Uber Technologies and faced up to a weakening global economy, a Reuters report said. The bank’s net earnings applicable to common shareholders fell 27% to $1.79 billion in the quarter ended Sep 30 from $2.45 billion a year ago. Earnings per share fell to $4.79 from $6.28 a year earlier.

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Trade deficit in September last year stood at US $14.95 billion. In 1992, more than half of 16-to-19 year olds were working. That fell to just over 30% in 2012 and will be near a quarter in 2022.

It is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. This rating rationale is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating rationale may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL Ratings. However, CRISIL Ratings alone has the sole right of distribution of its rationales for consideration or otherwise through any media including websites and portals. For more details on the CRISIL Ratings` complexity levels please visit Users may also call the Customer Service Helpdesk with queries on specific instruments. Nonetheless, given the higher susceptibility of self-employed borrowers in the affordable housing segment to economic cycles, the asset quality will remain a monitorable.

IHCL puts up strong operational performance on elevated average room rates, healthy occupancy

Passenger vehicle sales dropped to 223,317 units in September, SIAM data showed, while passenger car sales dived 33.4% to 131,281 units. India’s coal minister Pralhad Joshi said the government will formulated policy to attract overseas investors in next two weeks. India’s exports contracted by 6.57% to US $26 billion in September mainly due to significant dip in shipments from key sectors such as petroleum, engineering, leather, chemicals, and gems & jewellery. Imports too declined by 13.85% to US $36.89 billion, narrowing trade deficit to US $10.86 billion in September, according to official data this week.

• Also, conducting the home loan business through a housing finance company allows more efficient use of capital.
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• Credit cost in Q1FY22 fell to 1.36% as against 1.78% in Q1FY21, a decline of 42 bps YoY.
• Growth was aided by lower corporation tax, which came into effect last month.
• The domestic equity benchmarks pared all losses and traded near the flat line, with minor gains in afternoon trade.

business ethics stealing time CASA ratio increased to 43.21%, an increase of 372 bps YoY. Domestic cost of deposits declined by 103 bps YoY to 3.92% in Q1FY22. Also, payments to investors are not fixed and are linked to external variables such as government yield, commodity prices, equity indices, foreign exchange rates, or equity valuation of the company. Citigroup reported third-quarter earnings and revenue that topped projections as stronger-than-expected trading results made up for weaker lending margins.

Credit cost in Q1FY22 fell to 1.36% as against 1.78% in Q1FY21, a decline of 42 bps YoY. Domestic Advances of the Bank increased to INR 6,23,368 crore, up by 2.99% on a YoY basis. The domestic CASA of the Bank marked a growth of 12.86% on a YoY basis. Operating Profit for FY22 stands at Rs 22,389 crore registering a growth of 5.6% YoY. Domestic CASA ratio of the bank improved by 137 bps YoY to 44.24%.

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The IMF said https://1investing.in/’s economy is set to grow at 6.1% in 2019 and then will pick up to 7% in 2020. The IMF said in its latest World Economic Outlook that the downward revision reflected a weaker-than-expected outlook for domestic demand. Earlier, the World Bank slashed its economic growth forecast for India to 6% for the current fiscal year from its April projection of 7.5%, citing cyclical slowdown. Gross NPA ratio declined to 8.86% as on June 30, 2021 against 9.39% as on June 30, 2020. Recovery and upgrades increased to Rs 4,435 crore in Q1FY22 as against Rs 818 crore in Q1FY22. Bank’s NNPA ratio increased to 3.03% as on June 30, 2021 as against 2.83% as on June 30, 2020.

Insurance Australia Group will sell its 26% stake in India’s SBI General Insurance for about $432.38 million to Premji Investment and a Warburg Pincus affiliate, as it trims overseas holdings to focus on its domestic market. Finance Minister NirmalaSitharaman said in an interview on Tuesday India wants to comply with global sanctions, including US sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Please note Brokerage would not exceed the SEBI prescribed limit. Despite challenging demand environment, Trent continues to remain insulated with industry best growth rates.

India reported 7,533 new Covid-19 cases in the last 24 hours. The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of 6.4 billion Swiss Franc for Holcim. The European Union publishes its economic forecasts later in the session, and the market will be looking to see the impact of the Ukraine war and soaring inflation on growth expectations. This report should not be reproduced or redistributed to any other person or in any form without prior written consent from CRISIL Ratings.

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Bank of Baroda : Latest Quarterly Results Analysis

Bank reported a standalone Net Profit of Rs 2,168 crore in Q1 FY23 as against a profit of Rs 1,209 crore in Q1FY22. Global advances registered a strong YoY growth of 19.7% in Q3FY23. The IT major’s consolidated net profit rose 10% to Rs 1,505.70 crore and net sales rose 5.8% to Rs 12,116.30 crore in Q4 FY22 over Q3 FY22. European stocks declined across the board while Asian markets traded mixed on Monday as global markets struggled to gain positive momentum and recover from last week’s volatility. On the BSE, 1,995 shares rose while 1,301 shares fell. CRISIL Ratings Limited (‘CRISIL Ratings’) is a wholly-owned subsidiary of CRISIL Limited (‘CRISIL’).

Bank reported RoA and RoE of 0.42% and 8.63% respectively in Q1FY22. Capital adequacy on standalone basis stands at 15.40% with CET-1 at 11.25% as on June 30, 2021 as against 12.84% and 9.08% respectively as on June 30, 2020. For the consolidated entity, CRAR and CET-1 stand at 16.38% and 12.35% respectively. Global NIM increased to 3.04% in Q1FY22 compared with 2.52% in Q1FY21 led by domestic margins which have now increased to 3.12% in Q1FY22 from 2.59% in Q1FY21. NII increased to Rs 7,892 crore in Q1FY22 compared with Rs 6,816 crore in Q1FY21, an increase of 15.8% YoY.

Return on assets for 9MFY23 improves by 31 bps YoY to 0.93%; RoA for Q3FY23 improves by 39 bps YoY to 1.13%. Net interest margins stand at 3.37% in Q3FY23 and 3.23% for 9MFY23, an increase of 24 bps YoY for the quarter and 22 bps for 9M. By using this site, you are agreeing to security monitoring and auditing. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes.

The report is intended for the jurisdiction of India only. Access or use of this report does not create a client relationship between CRISIL Ratings and the user. Domestic advances fell by 2.3% YoY due to run-off of low yielding corporate loans.

China’s producer price index , considered a key barometer of corporate profitability, dropped 1.2% year-on-year in September, National Bureau of Statistics data showed on Tuesday. In contrast, China’s consumer prices rose at their fastest pace in almost six years; However, core retail inflation pressures remain modest, giving policymakers room to introduce measures to prop up demand. Features such as Advanced Charts, Watchlists, F&O Insights @ Fingertips, Payoff Analyzer, Basket Order, Cloud Order, Option Express, e-ATM, Systematic Equity Plan , i-Track, i-Lens, Price Improvement Order, Flash Trade, Strategy Builder etc., are offered by ICICI Securities. The securities quoted are exemplary and are not recommendatory.

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Considering segment wise, its Home Care sector revenue surged 9.4% to Rs 3,371 crore on year as against Rs 3,080 crore in the same quarter last year. Beauty and Personal Care revenue grew 5.3% to Rs 4,543 crore in quarter ended September 2019 as compared to Rs 4,316 crore in the same quarter previous year. CRISIL Ratings will disclose complexity level for all securities – including those that are yet to be placed – based on available information. The complexity level for instruments may be updated, where required, in the rating rationale published subsequent to the issuance of the instrument when details on such features are available. Adding scale and granularity into its already retail oriented lending book.

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