Bank of Baroda stands as one of India's top five banks by asset size and total deposits with a 6% market share as of FY24. Founded by Maharaja Sayajirao Gaekwad III on July 20, 1908, with headquarters in Vadodara, the bank has been a public sector undertaking (PSU) since its nationalization in 1969. The bank operates through 8,240 branches and 9,764 ATMs and cash recyclers, making it one of the most extensive banking networks in India.
As of May 2025, Bank of Baroda has a market capitalization of Rs 1,29,491 crore, positioning it as a significant player in the Indian banking sector. The bank's stock is listed on both the Bombay Stock Exchange with code 532134 and the National Stock Exchange with code BANKBARODA.
Bank of Baroda has demonstrated robust financial performance in recent quarters. The bank's net profit jumped 5.6% year-on-year to ₹5,419.70 crore in Q4 FY25, while it reported a record net profit of Rs 19,581 crore for FY 2024-25. This strong performance reflects the bank's strategic focus on core banking operations and effective risk management.
The bank has shown consistent growth across key financial metrics:
- Revenue: ₹1,27,945 crore
- Annual profit: ₹20,865 crore
- Profit growth of 86.2% CAGR over the last 5 years
In the most recent quarterly performance, Bank of Baroda posted a consolidated net profit of ₹5,214 crore in Q3FY25, marking a 5.6% year-on-year growth. The Net Interest Income (NII) grew by 2.8% year-on-year to ₹11,417 crore, while non-interest income saw a remarkable 34.1% year-on-year increase, reaching ₹3,769 crore.
The bank has maintained strong asset quality metrics, which is crucial for sustained profitability. The Gross NPA Ratio improved to 2.43% in Q3FY24, compared to 3.08% in the previous year, while the Net NPA Ratio stood at 0.59%, down from 0.70% year-on-year. This improvement in asset quality demonstrates the bank's effective credit risk management and collection processes.
The bank's capital adequacy ratio stood at 16.26%, with Tier-I at 14.18% as of September 2024, indicating a strong capital base that supports business growth and regulatory requirements.
Bank of Baroda operates across multiple business segments, offering comprehensive banking solutions. The bank is engaged in providing various services, including personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services, and treasury services.
The bank has shown strong performance in its retail banking segment, with organic retail advances growing by 19.5% year-on-year. Specific loan portfolio performance includes:
- Agriculture loans increased by 12.5% year-on-year to ₹1,51,050 crore
- Total gold loan portfolio reached ₹58,172 crore, showing 29.1% year-on-year growth
- MSME loans grew 13.6% year-on-year to ₹1,31,769 crore
The bank has invested significantly in digital transformation to meet evolving customer needs. It provides a range of digital products, including instant banking, Internet banking, mobile banking, cards, WhatsApp banking, digital signage systems (DSS), self-service passbook printers, and automated teller machines (ATMs). The bank also offers merchant payment solutions, Baroda DigiNext Cash Management Services, BarodaINSTA SmartTrade, Bharat Bill Pay, Bhim Adhaar Baroda Pay, and Internet Payment Gateway.
Bank of Baroda has maintained a consistent dividend policy, rewarding shareholders with regular payouts. In the quarter ending March 2025, the bank declared a dividend of ₹8.35, translating to a dividend yield of 6.41%. The company has been maintaining a healthy dividend payout of 20.3% and the stock provides a good dividend yield of 3.43%.
The shareholding pattern shows promoter holding at 64.0%, indicating strong government backing as a public sector bank, which provides stability and confidence to investors.
According to 32 analysts, Bank of Baroda has a target price of ₹262.38, representing a slight upside of 5.47% compared to the current price levels. HDFC Securities initiated coverage with a buy rating and a target price of ₹290, suggesting a 22% upside.
The bank's stock has shown resilience despite market volatility, with 52-week high of Rs 298.45 and 52-week low of Rs 190.70, indicating the stock's trading range and investor interest across different market cycles.
Bank of Baroda continues to focus on sustainable growth through strategic initiatives in retail banking, digital transformation, and maintaining strong asset quality. The bank's comprehensive service offerings, extensive network, and consistent financial performance make it a significant player in India's banking sector, well-positioned to capitalize on the country's economic growth and increasing financial inclusion needs.
