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Bank of Baroda
Standard & Poors, Dec 2005
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The BBpi (public information) rating on Bank of Baroda (BoB) takes into account its sound business profile, comfortable capitalization, satisfactory profitability, and majority government ownership. Asset quality, although improving, is moderate. The ratio of gross nonperforming assets (NPAs; including nonperforming loans, foreclosed properties, and restructured assets) to loans was 8.98% as of the fiscal year ended March 31, 2005, compared with 12.37% a year earlier. These levels compare unfavorably with that of public-sector bank peers despite a 17% reduction in gross NPAs to Indian rupee (Re) 40 billion (US$885 million) in fiscal 2005, from Re48 billion in fiscal 2004. The drop in NPAs was primarily due to reduction in slippages and higher recoveries. The focus on retail banking, particularly home...
Companies mentioned in this report are: Bank of Baroda (Unsolicited Ratings)
Action: Review
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