Credit rating agency, CARE has reaffirmed ‘AAA’ rating to Bank of Baroda’s Lower Tier-II Bonds worth Rs 500 crore, Upper Tier-II Bonds worth Rs 5000 crore and Perpetual Bonds worth Rs 1911.70 crore.
The bank has received the said rating on the back of its long track record, pan India network and overseas presence, comfortable profitability levels, moderate asset quality and declining CASA deposit proportion.
The bank’s net for the third quarter ended December 31, 2012 slipped by 21.58% at Rs 1011.62 crore as against Rs 1289.85 crore for the quarter ended December 31, 2011. Bank’s total income has increased by 9.80% to Rs 9685.51 crore for the quarter under review from Rs 8821.32 crore for Q3FY12.
