CARE reaffirms ‘AAA’ rating to various debt instruments of Bank of Baroda

20 Aug 2014 Evaluate

Credit rating agency, CARE has reaffirmed ‘AAA’ rating to Bank of Baroda’s Lower Tier-II Bonds worth Rs 500 crore and Upper Tier-II Bonds worth Rs 5,000 crore. The rating agency has also reaffirmed ‘AAA’ rating to Perpetual Bonds worth Rs 1911.70 crore of the bank.

The ratings factor in the majority ownership by the Government of India (GoI) and adequate capitalization level of the bank. The ratings also factor in the bank’s long track record, pan-India network and overseas presence, moderate profitability and relatively good asset quality amongst public sector bank.

Bank of Baroda reported 16.61% growth in Q1FY15 net profit of Rs 1361.88 crore as against Rs 1167.87 crore in the corresponding quarter of the previous year. The bank’s total income has increased by 9% to Rs 11682.50 crore for the quarter under review from Rs 10717.49 crore for the corresponding quarter of the previous year.

Bank Of Baroda Share Price

245.20 -1.05 (-0.43%)
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Peers
Company Name CMP
SBI 811.85
Bank Of Baroda 245.20
Canara Bank 100.60
PNB 101.65
Union Bank Of India 118.10
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