Bank of Baroda record 11.7% growth in advances driven by 20% retail loan growth

MUMBAI: Bank of Baroda reported provisional figures as of Dec 31, 2024, showing a substantial growth in retail lending, which helped the bank achieve an 11.7% year-on-year increase in global business to Rs 25.6 lakh crore.
The bank’s global advances increased by 11.7% to Rs 11.7 lakh crore as of December 2024, while global deposits grew by 11.8% to around Rs 13.9 lakh crore during the same period.
Domestic deposits rose by 9.2%, increasing from Rs 10.7 lakh crore in Dec 2023 to Rs 11.7 lakh crore in Dec 2024. Domestic advances showed an 11.8% growth, reaching Rs 9.6 lakh crore compared to Rs 8.6 lakh crore in 2023. Domestic retail advances witnessed a significant jump of 19.5%, growing from Rs 2 lakh crore in 2023 to Rs 2.4 lakh crore in 2024.
The growth in global deposits, from Rs 12.5 lakh crore in 2023 to Rs 13.9 lakh crore in 2024, reflects an 11.8% increase. Meanwhile, global advances rose from Rs 10.5 lakh crore in 2023 to Rs 11.7 lakh crore in 2024, marking an 11.7% rise.
The bank has said that these are provisional figures and are subject to audit and review by the bank’s statutory central auditoRs