Credit Growth Target: 12-14% YoY
The bank targets 12-14% credit growth despite outperforming at 17.4% in Q1, citing geopolitical uncertainty as a reason to moderate expectations. Domestic advances guidance remains anchored at this range.
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Bank of Baroda · forward-looking guidance across the available source record.
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Deposit Growth Target: 10-12% YoY
Deposit growth guidance maintained at 10-12%, currently running at 13.8%. The bank is seeing reduced bulk deposit pricing post FCNR(B) scheme announcement and expects average cost of incremental deposits to be lower than Q4 FY26 levels.
NIM Guidance: 2.75-2.95%
Net Interest Margin guidance of 2.75-2.95% maintained. Domestic NIM stands at 2.93%. Management expects incremental deposit repricing benefits from FCNR(B) and improved asset pricing (migration to MCLR) to arrest sequential NIM contraction.
ROA >1% for Q2-Q4 FY27
Excluding the Rs 5,680 Cr NMC settlement impact, Q1 adjusted ROA was 1.10%. Management expects ROA to remain above 1% for the remaining three quarters of FY27. Full-year ROA guidance will be provided after Q2.
Advances growth 11-13% with upside to exceed 13% for FY26
Management expects full-year loan growth to be in the 11-13% range, with upside potential to exceed 13% given current momentum.
NIM guidance maintained at 2.85-3% for FY26
Net interest margin for the full year is expected to remain in the 2.85-3% band, with Q4 exit likely above 2.85%.
Credit cost guidance revised to below 0.60%
Credit cost for FY26 is now expected to be below 0.60%, down from earlier guidance of below 0.75%, reflecting sustained low slippages.
RoA to remain above 1%
Return on assets is guided to stay above 1% for the full year, consistent with 14 consecutive quarters of >1% RoA.