Bank of Baroda share price today: Sharekhan says BUY with this price target
Sharekhan says that Bank of Baroda posted strong results for Q4FY2021. Core operational performance was below expectations due to one-offs (shift to the new tax regime). Asset-quality performance was also a bright spot. Net interest income (NII) came at Rs 7106 cr, up 4.5% yoy but down 8.3% qoq, below expectations. The bank saw a healthy recovery of Rs 2040 cr from written-off accounts and fee income of Rs 1899 cr, up 13% yoy, which resulted in other income coming at Rs 4848 cr, up 71% yoy
Bank of Baroda’s Management commentary was optimistic and positive for the long term and expects credit cost and slippages to improve in FY2022E: Reuters