On December 18, 2024, the Bank of Baroda (BoB) announced that its board of directors has authorised the issuance of long-term bonds valued at up to ₹10,000 crore, aimed at funding infrastructure and affordable housing initiatives.
In a regulatory filing, Bank of Baroda stated, “…the board of directors met today, 18th December 2024, and considered and approved the option to raise long-term bonds totalling up to ₹10,000 crore for financing infrastructure and affordable housing, which may be executed in a single or multiple tranches during FY 2024-25 and beyond, if deemed viable.”
The bonds may be issued in either a single tranche or in several tranches during the financial year 2024-25 and beyond, depending on market circumstances and viability.
Bank of Baroda reported a net profit of ₹5,238 crore for Q2 FY25, which represents a 23.2% increase compared to ₹4,253 crore from the previous year. The bank’s net interest income totalled ₹11,622 crore, reflecting a 7.3% rise from ₹10,831 crore in Q2 FY24.
In the first half of FY25, net interest income climbed to ₹23,222 crore, showing a 6.4% year-on-year growth from ₹21,827 crore. Additionally, non-interest income soared by 24.2%, reaching ₹5,181 crore in Q2 FY25, up from ₹4,171 crore during the same quarter the previous year.
As of 10:13 AM, shares of Bank of Baroda Ltd. were priced at 247.23 on the NSE.
Bank of Baroda (BoB), established in 1908 by Maharaja Sayajirao Gaekwad III in Vadodara, stands as one of India’s most longstanding and prominent public sector banks. It boasts a global footprint across more than 17 countries and operates an extensive network of over 8,200 branches, catering to a wide range of financial services such as retail, corporate, digital banking, wealth management, and insurance.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 19, 2024, 3:06 PM IST
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