Asset quality steady; remain watchful on the pace of deposit mobilization

Company
30 Sep 2024
5 Min read 
  • Bank of Baroda's stock update and financials are provided.
  •  Stock is recommended for buying with a target price of INR 290.
  •  The company's loan growth is expected to be 11.5% CAGR over FY24-FY27.
  •  Deposit growth is estimated to be around 11% CAGR over the same period.
  •  Asset quality is expected to remain robust with continued improvement in GNPA ratio.
  •  The company's NIM is expected to remain range-bound in the near term.
  •  The cost-to-income ratio is expected to improve to around 45% by FY27.
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