Bank Of Baroda

•

bankofbaroda.inBSE: 532134NSE: BANKBARODA

Market Cap₹ 1,22,975 Cr.

Current Price

High / Low₹ 326 / 234

Stock P/E6.8

Book Value₹ 326

Price to Book0.77

Dividend Yield3.57 %

ROCE11.2 %

ROE12.5 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 39.8% • Corporate/Wholesale Banking: 32.3% • Treasury: 22.2%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 68.0% CAGR over last 5 years
Comfortable capital adequacy - CAR of 15.8%
Asset quality is healthy - gross NPA of just 1.9%
Company has consistently been profitable over the last 5 years
Strong provisioning - provision coverage ratio of 93.3%
Healthy loan book growth of 16.5% with stable asset quality

CONS

A large part of profit comes from other income (90.3% of PBT)
Operating margins have contracted to 27.0% from 31.9%
Thin net interest margin of 2.4%
Growth is decelerating - 3Y profit CAGR (9.9%) trails the 5Y trend (68.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Public

Part ofNIFTY BANK NIFTY NEXT 50 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT

S.No.	Name
1.	SBIN	997.00	10.68	920292.57	1.74	24579.04	13.65	136240.49	8.36	12.16	52.34
2.	UNIONBANK	178.00	6.58	135878.18	2.81	5368.17	29.77	27427.10	1.21	14.57	69.42
3.	PNB	116.65	6.07	134065.18	2.57	5339.15	191.40	33589.17	3.12	13.26	75.40
4.	BANKBARODA	237.80	6.77	122974.99	3.57	1572.59	-53.08	35114.52	6.84	11.20	33.10
5.	INDIANB	852.90	8.99	114882.56	2.14	3299.48	48.73	18095.14	11.11	16.28	67.14
6.	CANBK	123.90	5.66	112385.37	3.39	4864.08	61.96	32957.16	4.55	14.46	68.47
7.	MAHABANK	84.17	8.59	64739.82	2.61	2020.54	26.83	8034.65	13.90	16.53	68.61
8.	IOB	33.13	10.71	63797.08	0.00	1659.24	49.25	8777.57	18.82	11.31	54.56
9.	BANKINDIA	139.80	5.40	63646.30	3.33	3138.46	77.92	20096.90	8.83	10.97	73.18
10.	UCOBANK	23.98	12.18	30069.86	1.83	652.43	24.09	6744.59	15.10	11.00	54.71
11.	CENTRALBK	30.75	6.10	27833.06	3.90	1328.95	5.43	9725.90	12.79	8.27	67.83
12.	PSB	22.78	11.68	16163.74	1.71	331.51	23.16	3213.37	10.40	9.07	71.38

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	28,003	29,263	30,042	31,072	31,143	31,902	32,939	32,820	32,866	33,318	33,600	34,514	35,115
Interest Expended	16,060	17,528	18,002	18,309	18,582	19,266	20,143	20,273	20,307	20,191	20,586	20,776	21,301
Net Interest Income	11,942	11,735	12,040	12,763	12,561	12,636	12,796	12,547	12,560	13,127	13,014	13,738	13,813
	5,316	6,503	5,042	6,538	4,658	7,553	4,794	7,076	5,538	5,116	6,399	5,474	6,202
Total Income	0	0	0	0	35,801	39,455	37,732	39,896	38,404	38,434	39,999	39,988	41,317
Operating Expenses	0	0	0	0	84,372	89,824	91,576	1,01,436	95,120	97,500	97,615	96,939	9,432
Operating Profit	0	0	0	0	87,813	1,12,066	84,317	94,789	85,856	84,928	96,516	95,180	10,584
Provisions & Contingencies	0	0	0	0	24,418	37,728	14,969	25,680	34,160	17,978	26,281	34,615	2,698
Profit before Tax	6,217	6,023	6,526	7,033	6,340	7,434	6,935	6,911	5,170	6,695	7,024	6,057	2,206
Tax %	30.80%	27.89%	27.24%	28.68%	27.75%	26.62%	26.22%	23.21%	35.16%	24.27%	23.02%	6.75%	28.70%
Net Profit	0	0	0	0	4,580	5,455	5,117	5,307	3,352	5,070	5,407	5,648	1,573
EPS	9	8	9	10	9	10	10	10	7	10	11	11	0

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	0	0	0	0	0	1,18,379	1,27,945	1,34,298	—
Interest Expended	29,596	29,160	32,506	50,040	43,201	38,815	49,942	69,899	78,265	81,860	82,855
Net Interest Income	-29,596	-29,160	-32,506	-50,040	-43,201	-38,815	-49,942	48,480	49,680	52,438	—
	7,937	7,992	7,887	12,191	15,254	14,395	16,275	23,399	24,939	22,527	23,192
Total Income	0	0	0	0	0	0	0	1,41,779	1,52,884	1,56,825	1,59,738
	0	0	0	0	0	0	0	34,337	36,721	38,717	—
Operating Profit	-29,596	-29,160	-32,506	-50,040	-43,201	-38,815	-49,942	37,543	37,898	36,248	—
	8,965	15,104	12,609	20,947	15,572	12,863	6,920	11,743	10,280	11,303	—
Profit before Tax	3,024	-2,106	1,525	-1,234	6,373	10,008	20,565	25,799	27,619	24,945	21,981
Tax %	0.00%	-0.00%	0.00%	-0.00%	0.00%	0.00%	0.00%	28.64%	25.92%	21.92%	19.48%
Net Profit	1,777	-1,912	1,087	942	1,454	7,700	14,688	18,410	20,459	19,477	17,698
EPS	8	-8	4	2	3	15	29	36	40	38	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 13%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 67%
3 Years:: 10%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 25%
3 Years:: 6%
1 Year:: 0%

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 14%
3 Years:: 15%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	461	529	529	924	1,034	1,034	1,034	1,034	1,034	1,034
	42,605	46,036	49,424	75,179	81,354	90,833	1,04,019	1,18,677	1,45,467	1,64,833
	6,17,257	6,07,451	6,65,589	9,73,228	9,95,910	10,75,804	12,34,682	13,59,980	14,96,696	16,75,895
	31,242	64,860	68,868	95,753	71,263	1,09,526	1,07,910	1,01,959	1,35,813	1,70,297
Other Liabilities & Provisions	27,422	28,655	29,878	54,471	52,677	62,181	77,238	72,110	81,515	87,944
Total Liabilities	7,19,221	7,47,805	8,19,672	11,99,942	12,02,676	13,40,137	15,25,879	165	186	210
ASSETS	-	-	-	-	-	-	-	-	-	-
	23,915	24,035	28,225	34,245	40,154	72,775	56,696	56,720	58,191	64,686
Balances with Banks & Money at Call	1,30,200	73,388	69,659	96,760	88,507	57,454	45,677	43,570	74,287	96,137
	1,40,716	1,75,137	1,95,716	2,89,727	2,81,859	3,47,587	3,97,487	4,07,136	4,27,380	4,35,778
	3,92,262	4,37,941	4,84,215	7,06,540	7,23,242	7,97,281	9,63,652	10,88,983	12,37,240	14,40,458
	5,930	5,532	7,144	9,044	8,082	10,057	8,876	8,036	12,479	12,048
	26,197	31,771	34,712	63,627	60,696	54,852	53,410	50,221	52,043	52,246
Total Assets	7,19,221	7,47,805	8,19,672	11,99,942	12,02,676	13,40,137	15,25,879	165	186	210

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17,865	-59,692	-1,449	1,519	-887	6,210	-21,354	-6,274	34,892	33,426
Cash from Investing	-551	-414	-2,537	-139	-471	-3,645	-1,096	-1,285	-6,494	-3,275
Cash from Financing	-198	3,413	4,449	14,729	-986	-998	-5,405	5,476	3,790	-1,806
	17,116	-56,692	462	16,109	-2,344	1,567	-27,855	-2,084	32,188	28,345

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	7.88	-7.13	4.16	2.01	2.99	15.18	28.82	36.29	40.06	38.38
Book Value (₹)	171.25	163.97	171.64	151.46	159.32	177.65	203.14	231.49	283.29	320.74
Dividend per Share (₹)	1.20	0.00	0.00	0.00	0.00	2.85	5.50	7.60	8.35	8.50
PROFITABILITY
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.04%	2.76%	2.57%
ROA %	0.25%	-0.26%	0.14%	0.09%	0.12%	0.61%	1.02%	1.16%	1.16%	0.98%
ROE %	4.57%	-4.62%	2.45%	1.63%	1.91%	8.84%	14.92%	16.38%	15.37%	12.47%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	47.77%	49.21%	51.65%
ASSET QUALITY
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	93.29%	93.94%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.36%	37.71%	37.06%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.09%	0.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GROWTH & VALUATION
Net Profit Growth %	135.17%	-207.58%	156.85%	-13.33%	54.31%	429.63%	90.75%	25.34%	11.13%	-4.80%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.95%	22.38%	13.22%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	7.28x	5.70x	6.45x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.14x	0.81x	0.77x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.88%	3.66%	3.44%

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.97	63.97	63.97	63.97	63.97	63.97	63.97	63.97
	9.87	8.90	8.98	8.08	8.71	9.84	9.69	10.14
	16.35	17.86	17.97	18.79	18.93	18.72	18.92	18.33
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.56	9.00	8.83	8.89	8.31	7.37	7.33	7.46

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Bank Of Baroda has informed the Exchange about MCLR w.e.f 12th September 2026

2026-09-09

Resignation of Director/KMP/SMP

2026-09-09 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09

Resignation of Director/KMP/SMP

2026-09-09 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09

Change in Management

2026-09-09 - Bank Of Baroda has informed the Exchange about change in Management

2026-09-08

General Updates

2026-09-08 - Bank Of Baroda has informed the Exchange about Disclosure under Regulation 30

2026-09-02

General Updates

2026-09-02 - Bank Of Baroda has informed the Exchange about Notice of Strike

2026-09-02

General Updates

2026-09-02 - Bank Of Baroda has informed the Exchange about Investor Conference - Outcome

2026-08-31

Resignation of Director/KMP/SMP

2026-08-31 - Bank Of Baroda has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-31

Change in Management

2026-08-31 - Bank Of Baroda has informed the Exchange about change in Management

News

Recent coverage and analyst commentary for BANKBARODA

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Free 5nance Account

Name

SBIN

997.00

10.68

920292.57

1.74

24579.04

13.65

136240.49

8.36

12.16

52.34

UNIONBANK

178.00

6.58

135878.18

2.81

5368.17

29.77

27427.10

1.21

14.57

69.42

PNB

116.65

6.07

134065.18

2.57

5339.15

191.40

33589.17

3.12

13.26

75.40

BANKBARODA

237.80

6.77

122974.99

3.57

1572.59

-53.08

35114.52

6.84

11.20

33.10

INDIANB

852.90

8.99

114882.56

2.14

3299.48

48.73

18095.14

11.11

16.28

67.14

CANBK

123.90

5.66

112385.37

3.39

4864.08

61.96

32957.16

4.55

14.46

68.47

MAHABANK

84.17

8.59

64739.82

2.61

2020.54

26.83

8034.65

13.90

16.53

68.61

IOB

33.13

10.71

63797.08

0.00

1659.24

49.25

8777.57

18.82

11.31

54.56

BANKINDIA

139.80

5.40

63646.30

3.33

3138.46

77.92

20096.90

8.83

10.97

73.18

UCOBANK

23.98

12.18

30069.86

1.83

652.43

24.09

6744.59

15.10

11.00

54.71

CENTRALBK

30.75

6.10

27833.06

3.90

1328.95

5.43

9725.90

12.79

8.27

67.83

PSB

22.78

11.68

16163.74

1.71

331.51

23.16

3213.37

10.40

9.07

71.38

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

28,003

29,263

30,042

31,072

31,143

31,902

32,939

32,820

32,866

33,318

33,600

34,514

35,115

Interest Expended

16,060

17,528

18,002

18,309

18,582

19,266

20,143

20,273

20,307

20,191

20,586

20,776

21,301

Net Interest Income

11,942

11,735

12,040

12,763

12,561

12,636

12,796

12,547

12,560

13,127

13,014

13,738

13,813

5,316

6,503

5,042

6,538

4,658

7,553

4,794

7,076

5,538

5,116

6,399

5,474

6,202

Total Income

35,801

39,455

37,732

39,896

38,404

38,434

39,999

39,988

41,317

Operating Expenses

84,372

89,824

91,576

1,01,436

95,120

97,500

97,615

96,939

9,432

Operating Profit

87,813

1,12,066

84,317

94,789

85,856

84,928

96,516

95,180

10,584

Provisions & Contingencies

24,418

37,728

14,969

25,680

34,160

17,978

26,281

34,615

2,698

Profit before Tax

6,217

6,023

6,526

7,033

6,340

7,434

6,935

6,911

5,170

6,695

7,024

6,057

2,206

Tax %

30.80%

27.89%

27.24%

28.68%

27.75%

26.62%

26.22%

23.21%

35.16%

24.27%

23.02%

6.75%

28.70%

Net Profit

4,580

5,455

5,117

5,307

3,352

5,070

5,407

5,648

1,573

EPS

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,18,379

1,27,945

1,34,298

—

Interest Expended

29,596

29,160

32,506

50,040

43,201

38,815

49,942

69,899

78,265

81,860

82,855

Net Interest Income

-29,596

-29,160

-32,506

-50,040

-43,201

-38,815

-49,942

48,480

49,680

52,438

—

7,937

7,992

7,887

12,191

15,254

14,395

16,275

23,399

24,939

22,527

23,192

Total Income

1,41,779

1,52,884

1,56,825

1,59,738

34,337

36,721

38,717

—

Operating Profit

-29,596

-29,160

-32,506

-50,040

-43,201

-38,815

-49,942

37,543

37,898

36,248

—

8,965

15,104

12,609

20,947

15,572

12,863

6,920

11,743

10,280

11,303

—

Profit before Tax

3,024

-2,106

1,525

-1,234

6,373

10,008

20,565

25,799

27,619

24,945

21,981

Tax %

0.00%

-0.00%

0.00%

-0.00%

0.00%

28.64%

25.92%

21.92%

19.48%

Net Profit

1,777

-1,912

1,087

942

1,454

7,700

14,688

18,410

20,459

19,477

17,698

EPS

-8

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

461

529

924

1,034

42,605

46,036

49,424

75,179

81,354

90,833

1,04,019

1,18,677

1,45,467

1,64,833

6,17,257

6,07,451

6,65,589

9,73,228

9,95,910

10,75,804

12,34,682

13,59,980

14,96,696

16,75,895

31,242

64,860

68,868

95,753

71,263

1,09,526

1,07,910

1,01,959

1,35,813

1,70,297

Other Liabilities & Provisions

27,422

28,655

29,878

54,471

52,677

62,181

77,238

72,110

81,515

87,944

Total Liabilities

7,19,221

7,47,805

8,19,672

11,99,942

12,02,676

13,40,137

15,25,879

165

186

210

ASSETS

23,915

24,035

28,225

34,245

40,154

72,775

56,696

56,720

58,191

64,686

Balances with Banks & Money at Call

1,30,200

73,388

69,659

96,760

88,507

57,454

45,677

43,570

74,287

96,137

1,40,716

1,75,137

1,95,716

2,89,727

2,81,859

3,47,587

3,97,487

4,07,136

4,27,380

4,35,778

3,92,262

4,37,941

4,84,215

7,06,540

7,23,242

7,97,281

9,63,652

10,88,983

12,37,240

14,40,458

5,930

5,532

7,144

9,044

8,082

10,057

8,876

8,036

12,479

12,048

26,197

31,771

34,712

63,627

60,696

54,852

53,410

50,221

52,043

52,246

Total Assets

7,19,221

7,47,805

8,19,672

11,99,942

12,02,676

13,40,137

15,25,879

165

186

210

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

17,865

-59,692

-1,449

1,519

-887

6,210

-21,354

-6,274

34,892

33,426

Cash from Investing

-551

-414

-2,537

-139

-471

-3,645

-1,096

-1,285

-6,494

-3,275

Cash from Financing

-198

3,413

4,449

14,729

-986

-998

-5,405

5,476

3,790

-1,806

17,116

-56,692

462

16,109

-2,344

1,567

-27,855

-2,084

32,188

28,345

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

7.88

-7.13

4.16

2.01

2.99

15.18

28.82

36.29

40.06

38.38

Book Value (₹)

171.25

163.97

171.64

151.46

159.32

177.65

203.14

231.49

283.29

320.74

Dividend per Share (₹)

1.20

0.00

2.85

5.50

7.60

8.35

8.50

PROFITABILITY

Net Interest Margin %

0.00%

3.04%

2.76%

2.57%

ROA %

0.25%

-0.26%

0.14%

0.09%

0.12%

0.61%

1.02%

1.16%

0.98%

ROE %

4.57%

-4.62%

2.45%

1.63%

1.91%

8.84%

14.92%

16.38%

15.37%

12.47%

0.00%

47.77%

49.21%

51.65%

ASSET QUALITY

Gross NPA %

0.00%

Net NPA %

0.00%

Provision Coverage %

0.00%

93.29%

93.94%

Slippage Ratio %

—

BALANCE SHEET & LIQUIDITY

CASA %

0.00%

38.36%

37.71%

37.06%

Credit-Deposit Ratio %

0.00%

0.07%

0.09%

0.10%

0.00%

GROWTH & VALUATION

Net Profit Growth %

135.17%

-207.58%

156.85%

-13.33%

54.31%

429.63%

90.75%

25.34%

11.13%

-4.80%

Book Value Growth %

0.00%

13.95%

22.38%

13.22%

P/E (x)

0.00x

7.28x

5.70x

6.45x

P/B (x)

0.00x

1.14x

0.81x

0.77x

0.00%

2.88%

3.66%

3.44%

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

63.97

9.87

8.90

8.98

8.08

8.71

9.84

9.69

10.14

16.35

17.86

17.97

18.79

18.93

18.72

18.92

18.33

Government

0.00

9.56

9.00

8.83

8.89

8.31

7.37

7.33

7.46

Bank Of Baroda

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Bank Of Baroda

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

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Cash Flows

Ratios

Shareholding Pattern

Documents

News

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