Bank of Baroda crosses over Rs 22 lakh crore business milestone in Q2

The state-run Bank of Baroda published its business update for the second quarter of 2023 on Friday, October 6. 

The bank recorded an increase in total deposits, which rose to a total of 12 lakh crore, growing by an amazing 14.63% year over year and by 4.15% quarter over quarter.

Domestic current account and savings account (CASA) deposits also rose, rising 1.12% from one quarter to the next and 4.43% from one year to the next to reach 4.24 lakh crore.

Domestic advances performed well, increasing by 2.87% from one quarter to the next and by an astonishing 16.64% from one year to the next to reach 8.13 lakh crore.

By attaining 22 lakh crore as of September 30, 2023, Bank of Baroda's total business had reached an important milestone. This shows a fantastic 15.88% growth rate from year to year.

The bank's total advances also recorded substantial growth, increasing by 17.43% year-on-year and 3.51% quarter-on-quarter, reaching Rs 10 lakh crore as of September 30, 2023.

The bank reported strong growth in total deposits, with a 14.63% year-on-year increase and a 4.15% quarter-on-quarter increase, resulting in total deposits of Rs 12 lakh crore as of September 30, 2023.