Bank of BarodaRecord-Low 0.17% Credit Cost & 14-Qtr ROA Streak

Bank of Baroda's Q3 FY26 results underlined its consistent earnings model: net profit of ₹5,055 crore (+4.5% YoY), marking the 12th consecutive quarter above ₹4,000 crore with no exceptional items.

Global loan growth of 14.7% YoY — the strongest in eight quarters — was broad-based across the RAM book (+17.3%) and a recovering corporate segment (+8.1%). Asset quality remained in a benign cycle with Gross NPA improving 39 bps YoY to 2.04%, Net NPA below 1% at 0.57%, and credit cost touching a record-low 0.17% for the quarter. In a significant first, management revised credit cost guidance downward from below 0.75% to below 0.60%, signalling structural confidence in asset quality.

CASA ratio held at a top-quartile 38.45%, while cost of deposits declined to 4.75% — below 5% for both global and domestic books. NIM dipped to 2.79% in Q3 due to repricing lags, with management guiding Q4 exit NIM at 2.85–2.90% and full-year guidance of 2.85–3% maintained. ROA has been above 1% for 14 consecutive quarters; book value has risen from ₹180 to ₹250 per share over two years.