Bank of Baroda to raise ₹10,000 crore via long-term bonds – CNBC TV18

State-owned Bank of Baroda (BoB) on Wednesday (December 18) said its board of directors has approved the issuance of long-term bonds amounting to up to ₹10,000 crore for financing infrastructure and affordable housing projects.

“…board of directors of Bank of Baroda at its meeting held today i.e 18.12.2024 interalia considered & approved raising of long term bonds for the financing of infrastructure and affordable housing aggregating to total size up to Rs 10,000 crore in single or multiple tranches during FY 2024-25 and beyond if found feasible,” Bank of Baroda said in a regulatory filing.

The bonds may be raised in single or multiple tranches during the financial year 2024-25 and beyond, depending on market conditions and feasibility.

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Bank of Baroda’s net profit for the second quarter of FY25 stood at ₹5,238 crore, reflecting a 23.2% year-on-year (YoY) increase from ₹4,253 crore. The bank reported a net interest income of ₹11,622 crore, marking a 7.3% increase from ₹10,831 crore in Q2FY24.

For the first half of FY25, net interest income rose to ₹23,222 crore, a 6.4% YoY growth from ₹21,827 crore. The non-interest income surged by 24.2%, reaching ₹5,181 crore in Q2FY25 compared to ₹4,171 crore in the same quarter last year.

This growth led to an operating profit of ₹9,477 crore, an 18.2% increase from ₹8,020 crore in Q2FY24. The gross non-performing assets ratio decreased to 2.50% in Q2FY25, down from 3.32% in Q2FY24. Similarly, the net non-performing assets (NNPA) ratio improved to 0.60% from 0.76% in the previous year.

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Shares of Bank of Baroda Ltd ended at ₹250.65, down by ₹5.30, or 2.07%, on the BSE.