BMW Group India Stands Out At Bharat Mobility Global Expo 2024

* BMW i7, BMW iX, BMW i4, BMW iX1 and the MINI 3-door Cooper SE steal the show.

* BMW Group India continues to dominate the luxury electric market with the most versatile portfolio.

BMW Group India stands out at Bharat Mobility Global Expo 2024 with an immersive display of its entire electric vehicle range. BMW Group India pavilion is located at Hall No. H1-11, Bharat Mandapam, Pragati Maidan, New Delhi from 01 - 03 February 2024.

The company has showcased its exceptionally diverse and innovative lineup of electric vehicles, captivating visitors with models such as the groundbreaking BMW i7, the versatile BMW iX, the stylish BMW i4, the dynamic BMW iX1, and the spirited MINI 3-door Cooper SE. This showcase represents a significant leap forward in the company's commitment to electrification and sustainable mobility, offering a range of options to suit various preferences and lifestyles.

Mr. Vikram Pawah, President, BMW Group India said, “As pioneers in automotive excellence, being part of a visionary event like Bharat Mobility Global Expo 2024 is exciting for BMW Group India.  Being the forerunners in the Indian electric luxury car segment, we are proudly showcasing our robust and diverse electric portfolio which has created ripples thanks to its combination of sustainability, performance and driving pleasure. We look forward to interacting with visitors who will have a unique opportunity to experience industry leading innovation and witness the future of mobility through BMW Group’s exceptional electric vehicles.”

The following vehicles are displayed at BMW Group India pavilion at the Bharat Mobility Global Expo 2024:

BMW i7 is a true all-electric luxury sedan that clearly demonstrates how an exclusive driving experience can be combined with an unwavering commitment to sustainability. BMW’s flagship luxury sedan with its enhanced level of comfort and the unique in-car entertainment system takes a pioneering route to maximising wellbeing inside the car. The i7 offers all-electric innovation, visionary design, and powerful driving dynamics so that you can make a striking impression everywhere you go.

BMW iX effortlessly combines premium mobility with SAV practicality, sporting agility and a long operating range with luxurious spaciousness. Born Electric, the BMW iX imbibes the principles of sustainability throughout its lifecycle, right from production to usage to end-of-life, making comprehensive use of natural and recyclable materials. It is so much more than a car - it's a modern way of life.

BMW i4 effortlessly combines sheer driving pleasure with segment-best operating range. This electric mid-sized sedan offers absolute luxury with class leading ambience and generous space, and the rear axle air suspension ensures maximum comfort even for longer trips. Excitingly dynamic, comfortable and powerful in equal measure, the BMW i4 provides a truly electrifying experience that exceeds all expectations.

BMW iX1 is a gamechanger for its segment. Inspired by confidence and determination, the iX1 fulfils the expectations of a SAV in a purely electric way, bringing together instantly accessible driving pleasure and modern versatility with class-leading range. The latest BMW eDrive technology, sharp design, fun-to-drive character and cutting-edge digitalisation shape the iX1’s winning personality and electrify every adventure that awaits you.

MINI 3-door Cooper SE is every bit the original iconic MINI, but powered for the roads of tomorrow. It fuses the legendary go-kart feeling with instant torque and zero emissions. The extra low centre of gravity improves stability and handling, and makes taking every bend more fun than ever. The moment you press the accelerator pedal, the torque kicks in instantly to deliver thrilling agility and stirring acceleration. It's MINI at its most intense – and most evolved.  Dynamic yet gentle, the all-electric MINI offers you an entirely new driving experience.

Motorola Introduces “moto g24 power” With An Ultra Premium Design, A Massive 6000mAh Battery And The Latest Android™ 14

Highlights

The moto g24 power boasts an elegant and premium design, a massive 6000 mAh battery with a TurboPower™ 33W charger at an incredible starting price of just ?8,249*

The moto g24 power impresses with its stunning looks in a 3D acrylic glass (PMMA) finish, available in two captivating colours: Ink Blue and Glacier Blue.

The moto g24 power is equipped with the industry’s latest Android™ 14, enabling the device to be more personal, protected, and accessible.

The moto g24 power feres an advanced 50MP Quad Pixel camera system complemented by the segment’s leading 16 MP selfie camera.

The moto g24 power comes with other top of the line features such as an immersive 6.6” punch-hole display with 90 Hz refresh rate, Dolby Atmos® stereo speakers, IP52 water repellent design and more.

The device will be available in two memory variants, namely 4GB + 128GB and 8GB + 128GB at Rs. 8,999 and 9,999 respectively.

Consumers will also be able to get an additional Rs. 750 off on exchange as part of the launch offer, making the effective price of the device just Rs. 8,249 and Rs. 9,249 respectively.

Moto g24 power will go on sale on Flipkart, Motorola.in and leading retail stores across India, starting 7th February 2024, 12PM onwards.

Motorola announced the launch of its latest entry-level smartphone in the g series franchise, the “moto g24 power”. A class-leading affordable smartphone with premium design, a massive 6000mAh battery with a TurboPower™ 33W charger. This device ensures an exceptional and enduring smartphone experience, making it a standout addition to the g series franchise. The moto g24 power has a very elegant look, boasting a 3D Acrylic glass (PMMA) finish, while being one of the thinnest and the lightest devices in segment with 6000mAh battery. This comes with the latest Android™ 14 and showcases an advanced 50MP Quad Pixel camera system, accompanied by a segment’s leading 16MP selfie camera that captures exceptional photos in various lighting conditions.

The moto g24 power’s premium design featuring a streamlined camera housing, enhances the device's overall aesthetics and provides users with a visually stunning smartphone that is comfortable to hold. Its slim yet robust design is complemented by a side-mounted fingerprint reader, enabling easy and secure device unlocking. The sleek smartphone measuring just 8.99 mm in thickness and weighing 197gm, comes with a water-repellent design and IP 52 rating, and is available in two stunning and elegant colours Ink Blue and Glacier Blue.

The moto g24 power boasts a massive 6000mAh battery enabling users to enjoy their favourite content, play games, and immerse in video calls for longer duration. With the help of a TurboPower™ 33W charger, the device fuels up quickly and provides users a long-lasting entertainment experience that lasts nearly a complete weekend on a single charge.

Further, the moto g24 power comes with the latest Android™ 14 with 3 years of assured security updates. It also comes with various stand-out experiences like Flash notifications, which alert the users by turning on the flash and screen light for incoming calls, so they don’t miss a notification. The Health Connect feature enables users to manage their health data in one place with control for privacy. Noteworthy features also encompass Improved magnification, Data-sharing updates, and Enhanced PIN security.

The moto g24 power supports an advanced 50 MP Quad Pixel camera system. With this Quad Pixel technology, users get 4x better low light sensitivity for sharper, more vibrant photos – day or night. Plus, the dedicated Macro Vision camera brings users within 4 cm of their subject, so that they can capture tiny details with a standard lens. On the front, the smartphone features segment’s leading 16MP camera, which can capture sharp selfies in the blink of an eye. Furthermore, the camera system also comes with various features and software, such as Auto Night Vision, HDR, and Portrait mode.

The moto g24 power also offers incredible entertainment owing to its notchless 6.6" 90 Hz IPS LCD display with peak brightness of 537 NITS. Moreover, with a high 90 Hz refresh rate, switching between apps and scrolling websites becomes smooth and fluid. With Auto Mode in action, the screen refresh rate flexibly switches between 90 Hz and 60 Hz, improving the overall battery efficiency of the smartphone. This immersive viewing experience is further enhanced by the stereo speakers with Dolby Atmos® that delivers high-quality audio with improved bass and cleaned vocals giving more auditory clarity at higher volumes.

Commenting on the launch, Mr. T.M. Narasimhan, Managing Director, Mobile Business Group – India, said “We are delighted to announce the latest addition to our g series franchise – the moto g24 power. Through our g series smartphones, we democratize smartphone experiences by offering advanced features at affordable price points, catering to the growing demands of the Indian mobile phone consumer. This smartphone boasts a premium design and a massive battery along with other class-leading features that allow users to experience sophistication and functionality seamlessly at more accessible price points, making it idle for consumers who are constantly on the move.”

Additionally, the moto g24 power provides users with enhanced performance through two RAM variants, namely in-built 4GB or 8GB LPDDR4X RAM which can be expanded up to 16GB with RAM boost feature. It also offers users ample space for photos, films, songs, apps, and games with up to 128GB of built-in Storge. Users can also benefit from 1TB of expandable storage using a dedicated microSD card slot.

Availability:

The moto g24 power will be available in two beautiful colours: Ink Blue, and Glacier Blue, featuring 3D Acrylic glass (PMMA) finish.

moto g24 power will be available in two memory variants with built-in 4GB RAM and 8GB RAM + 128GB Storage; and will go on sale on Flipkart, Motorola.in and leading retail stores starting 7th February 2024, 12PM onwards.

Launch Price:

4GB RAM + 128GB Storage: Rs. 8,999

8GB RAM + 128GB Storage: Rs. 9,999

Affordability Offers~:

Additional Rs. 750 on exchange.

Effective Price with offer:

4GB + 128GB: Rs. 8,249

8GB + 128GB: Rs. 9,249

To know more about the product visit:  

https://www.flipkart.com/moto-g24/p/itm62b4bfe302fae?pid=MOBGUFK4UBP7ZTXJ

Operator Offers:

 Total Benefits worth Rs. 4,500 from Reliance Jio (Applicable on pre-paid plan of: Rs. 399)

- Cashback worth Rs. 2000

- Partner coupons worth Rs. 2500

*Terms & Conditions Apply

Disclaimers:

*Including exchange offer

~ Available in select channels

** With RAM Boost feature. Up to 8GB of Virtual RAM

Neolacta Life Sciences Achieves Significant Milestone, Helps 1 Lakh+ Preterm Infants In India

Neolacta Lifesciences, a pioneering company dedicated to improving the health and lives of preterm infants has announced a remarkable achievement in positively impacting the lives of over one lakh preterm infants across India through their portfolio of exclusive human milk products. Preterm birth, a major public health concern, is particularly prevalent in India, where an estimated 3 million preterm babies are born each year, comprising over one-fifth of all global births.

To commemorate this historic milestone, the company has embarked on a nation-wide initiative called “LAKH-shya” to honor the invaluable contributions of the healthcare professionals (HCPs), donor moms and parents of preterm babies. This initiative recognizes and celebrates their unwavering commitment to adopting an Exclusive Human Milk Diet (EHMD), marking a significant milestone in their journey toward enhanced newborn nutrition.

Speaking on achieving this milestone, Sunil Sreekakula, Country GM of NeoLacta Lifesciences said, “We are delighted with our initial achievement, recognizing that our impact extends beyond our products. We believe that we have played a vital role in generating awareness about human milk benefits for preterm infants. The proliferation of human milk banks in India is evidence of the collective effort of all stakeholders in prioritizing the nutritional needs of preterm infants. Buoyed by our success, we are committed to marching ahead setting an ambitious goal to impact 1 million babies by 2030. Our journey continues as we strive to make a lasting and positive difference in the lives of these little ones, ensuring a healthier start for the next generation."

Expressing gratitude to all stakeholders, he further added, “As we celebrate this significant milestone, Neolacta Lifesciences extends sincere appreciation to our healthcare professionals, partners, and families for their trust and collaboration. We look forward to expanding our impact, reaching more preterm infants, and contributing to the strengthening of the standards in neonatal care across the country.”

Acknowledging the challenges faced by mothers of preterm infants in producing 100% sufficient breast milk, Neolacta Lifesciences has pioneered a revolutionary line of human milk-based products. As the first company in Asia to comprehensively address the nutritional requirements of preterm infants, Neolacta has played a pivotal role in supporting families during this challenging period.

The company’s steadfast commitment to research and development continues to propel innovations in neonatal nutrition, providing hope for the future of premature infant care. Neolacta remains dedicated to saving the lives of vulnerable preterm infants and supporting their families during the critical early stages of life.

About Neolacta Lifesciences:

Neolacta Lifesciences  is India’s only ISO 22000 and GMP-certified Human Milk Facility and the first company in India and Asia to have developed a state-of-the-art human milk processing facility. The company is dedicated to improving access to human milk through its range of 100% human milk-derived products and operates a pharmaceutical-grade facility to process, develop and test human milk derivatives.  Its ultra-modern facility in Bengaluru  uses sophisticated and innovative processes to ensure the highest level of product safety and quality. NeoLacta Lifesciences has developed proprietary technology to offer unique nutritional solutions to help meet the unique requirements of premature babies.

Honda Cars India Introduces “Ultra Body Coating For Enhanced Vehicle Protection”

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, has introduced “Ultra Body Coating”, an enhancing appeal & protective solution for its customers.

The Ultra Body Coating is a high-performance transparent layer formulated with a next generation material called Silane, which makes it the hardest glass-based coating by Industry standard. The coating provides an ultra-glossy, glass-based, super smooth surface to the vehicle and retains the glossiness of the car.

The coating contains materials which result in a thicker optimal layer creating an easy to maintain surface that protects the car from dust, pollutants, UV Rays and the antifouling effects against acid rains.

Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd, shared insights into the benefits of this latest offering, stating, “At Honda, we are consistently looking at providing our customers with the best products and services. In our endeavor to deliver that, we have introduced this premium body coating for all our customers. This cutting-edge product is designed to not only provide long-lasting protection but also enhance the visual appeal of the vehicle. We are excited to offer this advanced service to our valued customers, ensuring that their Honda continues to look as impressive as it did on the day of purchase.”

The Ultra Body Coating service will be available across all Honda dealerships in the country starting at a price of Rs 28,900 and can be applied to all Honda models.  

A comprehensive three-year warranty backs this premium coating. Throughout this period, Honda offers complimentary maintenance and service benefits every six months. These routine services are essential to maintain the vehicle’s shine and glossiness of the vehicle.  

About Honda Cars India Ltd.

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, was established in December 1995 with a commitment to provide Honda’s passenger car models and technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of-the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan. 

Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety, and fuel-efficiency. The company has a strong sales and distribution network spread across the country.  Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country.

Motorola Unveils "Flip Into The Future" Campaign – Influencer Marketing Campaign That Uses Hyper Realistic CGI Advertising

* The campaign celebrates Motorola’s latest launch of razr40 Ultra in Pantone Colour of the year 2024 – Peach Fuzz

Motorola, India’s best 5G smartphone brand proudly presents the launch of its groundbreaking marketing initiative, "Flip into the Future," an enthralling campaign spotlighting the iconic Motorola razr 40 Ultra in the stylish Pantone® Colour of the Year 2024- Peach Fuzz. This campaign is India’s first digital marketing campaign by any smartphone brand that uniquely blends hyper-realistic CGI advertising and influencer marketing using Instagram's cutting-edge sequence feature. Unlike traditional campaigns, this approach combines coming-of-age surreal advertising with the personal touch of digital influencers, creating a captivating story where Motorola razr40 Ultra plays the role of an enabler to look into the future.

Conceptualized and executed by Barcode Entertainment, the "Flip into the Future" campaign introduces three captivating CGI ad reels strategically placed in iconic Indian locations, where the Motorola razr40 Ultra elegantly unfolds, providing a glimpse into the possibilities of tomorrow. These hyper-realistic environments, blending technology and imagination, spark curiosity about the limitless potential that lies ahead, infused with the warmth of the Peach Fuzz color.

In a strategic move, Motorola India embraces the power of influencer marketing by collaborating with digital influencers to amplify the campaign's reach.

Sharing his views, Mr. Shivam Ranjan, Marketing Head, Motorola APAC said, “At Motorola, innovation is an integral part of our brand, whether in terms of color, design, technology, or adapting modern marketing tools. Our popular flagship, the motorola razr40 Ultra, is the world’s first smartphone to be launched in the Pantone® color of the year 2024 - Peach Fuzz. This unique proposition required a differentiated and modern marketing approach to reach our target audience effectively. We are pleased to partner with Barcode for our 'Flip into the Future' campaign, which used modern CGI advertising and innovative influencer marketing to engage with our audience. We are delighted with the response that the audience has shown to the campaign and look forward to implementing more such unique marketing strategies to take the brand further.”

Mr. Ajay Kulkarni, Director Growth - Barcode Entertainment, echoes “The 'Flip into the Future' campaign is a manifestation of Barcode Entertainment's commitment to pushing creative boundaries. By integrating hyper realistic CGI and influencer marketing, we strive to redefine the landscape of advertising, offering an unparalleled experience that resonates with our audience. Co-creating this beautiful campaign with the fusion of influencers and technology, we worked closely with Motorola to translate their vision into reality.  The collaboration between the client and our entire team has resulted in a campaign that truly captures the essence of innovation and creativity," said Sonia Sarashetti, Director Influencer Content at Barcode Entertainment.

The "Flip into the Future" campaign reinforces Motorola India's dedication to staying at the forefront of innovation, challenging traditional marketing norms, and embracing new-age strategies to captivate and connect with its audience.

Exemplifying a velvety gentle peach hue, Peach Fuzz has a cozy, tender essence that embodies feelings of togetherness, community, and collaboration. The new Color of the Year, PANTONE 13-1023 Peach Fuzz, aligns beautifully with Motorola’s pillars of inclusion and making technology more accessible for all.  Additionally, the new motorola razr40 ultra in Peach Fuzz lets stylish and expressive individuals stand out from the crowd. With its iconic flappable design, the razr40 ultra boasts the world's largest external 3.6-inch pOLED display with its fastest 144Hz refresh rate, with 1100nits peak brightness. This flip phone is super slim when folded and has a gapless design, owing to its industry’s 1st dual axis teardrop hinge design thus ensuring the phone is also infinitely flexible at multiple flex angles. When opened, the phone has a nearly creaseless 6.9” pOLED display with up to 165Hz refresh rate and 1400nits of Peak brightness. This iconic flip phone is equipped with a powerful Snapdragon® 8+ Gen 1 SoC, ensuring a seamless experience. The motorola razr40 ultra transcends generations and demands attention, exemplifying the harmonious Pantone Color of the Year 2024.

For CGI videos around motorola razr40 ultra, checkout following links:

Flip around Bandra Worli sea link –

www.instagram.com/reel/C16jR6TMz43/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

Appearing from India Gate –

www.instagram.com/reel/C2Ce8xGMoL_/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

Topples down the Amer Fort –

www.instagram.com/reel/C2KbKhFrHUN/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

For more details around the Motorola in Pantone Color of the year 2024 - www.motorola.in/pantone

About Lenovo & Motorola

Lenovo is a US$62 billion revenue global technology powerhouse, ranked #217 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992)(ADR: LNVGY). Motorola Mobility LLC was acquired by Lenovo Group Holdings in 2014. Motorola Mobility is a wholly owned subsidiary of Lenovo and is responsible for designing and manufacturing all Moto and Motorola branded mobile handsets and solutions.

To find out more visit https://www.lenovo.com 

Banking Luminary L V Prabhakar - Former MD & CEO of Canara Bank, Joins Capri Global Capital Board

Capri Global Capital Ltd, a leading non-banking financial company, has strengthened its Board of Directors with the appointment of Mr. L V Prabhakar, former MD & CEO of Canara Bank, along with distinguished leaders Mr. Shishir Priyadarshi and Ms. Nupur Mukherjee as additional independent directors.

This strategic move, subject to shareholder approval, enhances the Board's strength to 9 independent directors, contributing to a diverse and robust leadership team in a Board comprising 10 directors, including the MD & CEO.

Mr. Rajesh Sharma, the Managing Director of Capri Global Capital Ltd, expressed enthusiasm about the prestigious appointments, stating, "We are honoured to welcome Mr. L V Prabhakar, Mr. Shishir Priyadarshi, and Ms. Nupur Mukherjee as additional independent directors. Their vast experience across the financial services ecosystem will significantly benefit Capri Global as we embark on our next phase of growth. Their rich and diverse backgrounds in banking, finance, technology, and ESG bring a fresh perspective to our deliberations. This appointment aligns with our commitment to fortify the Board and enhance its independence."

Brief Profile of New Board Members:

Mr. L V Prabhakar, former MD & CEO of Canara Bank, brings a rich experience in banking and finance, having held pivotal roles in public sector banks, AMCs, and insurance companies. He has been appointed for a period of 5 years.

Mr. Shishir Priyadarshi, a veteran bureaucrat, and the First Indian civil servant to serve as Director of WTO, adds a wealth of experience to the Board with over four decades in various national and global institutions, bringing a unique perspective. He has been appointed for a period of 3 years.

Ms. Nupur Mukherjee, a technology leader with a focus on data-driven solutions, cloud, and AI technologies, brings valuable experience from top Indian technology companies, serving as the Global Managing Director at Standard Chartered Bank and Barclays. She has been appointed for a period of 3 years.

This dynamic trio of new Board members underscores Capri Global's dedication to harness diverse expertise for sustained growth in the financial sector.

About Capri Global Capital Ltd:

Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 700+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2023-24 for a second consecutive year.

For further information, visit:  www.capriloans.in  |  www.caprihomeloans.com

Bank of Baroda Announces Financial Results For The Quarter Ended December 31, 2023

* BOB reports a robust growth of 38.2% in its 9MFY24 Net Profit to INR 12,902 crore

Key Highlights

Global Business grew by 10.7% to reach INR 22,94,627 crore as of 31st December 2023

Net Profit for Q3FY24 stands at INR 4,579 crore, growth of 18.8% YoY.

Return on Assets (ROA) for the quarter is 1.20% and 1.15% for 9MFY24.

Return on Equity (ROE) higher by 168 bps YoY at 18.70% for 9MFY24.

The growth in profitability was supported by healthy Operating Income growth of 18.8% YoY in 9MFY24.

Operating income growth was augmented by ~1.5x growth in Non-Interest Income to INR 10,304 crore in 9MFY24.

Healthy growth in income coupled with subdued increase in Opex has resulted in healthy Operating profit growth of 21.7% YoY for 9MFY24.

Cost to Income ratio has also reduced by 123 bps YoY to 47.13% for 9MFY24.

Global Net Interest Margin (NIM) improves by 3 bps sequentially and stands at 3.10% in Q3FY24 as against 3.07% in Q2FY24.

Net Interest Margin (NIM) for 9MFY24 is 3.14%.

BOB has witnessed significant improvement in its Asset quality with reduction in GNPA by 145 bps YoY to 3.08% from 4.53% in Q3FY23.

Bank’s NNPA reduced by 29 bps YoY to 0.70% in Q3FY24 as against 0.99% in Q3FY23.

BOB’s balance sheet remains robust with healthy Provision Coverage Ratio (PCR) of 93.39% with TWO & at 77.70% without TWO.

Credit cost remains below 1% at 0.69% for 9MFY24 & 0.39% for the quarter.

Healthy Liquidity Coverage Ratio (LCR) at 133% as on 31st Dec 2023.

BOB’s Global Advances registered a growth of 13.6% YoY in Q3FY24 led by robust retail loan book growth. Bank’s organic Retail Advances grew by 22%, driven by growth in high focus areas such as Auto Loan (24.3%), Home Loan (15.6%), Personal Loan (60.8%), Mortgage Loan (10.5%), Education Loan (18.3%).

Profitability

BOB reported a standalone Net Profit of INR 4,579 crore in Q3FY24 as against a profit of INR 3,853 crore in Q3FY23. Net Profit for 9MFY24 stands at INR 12,902 crore (+38.2% YoY) as against INR 9,334 crore in 9MFY23.

Net Interest Income (NII) grew by 2.6% YoY to INR 11,101 crore in Q3FY24. NII for 9MFY24 registered a growth of 10.4% and stands at INR 32,929 crore.

Non-Interest Income for 9MFY24 stands at INR 10,304 crore up by 57.1% YoY

Global NIM improves by 3 bps sequentially and stands at 3.10% in Q3FY24. Global NIM for 9MFY24 stands at 3.14%.

Yield on Advances increased to 8.51% in Q3FY24 as against 7.78% in Q3FY23. 

Cost of Deposits increased to 4.96% in Q3FY24 as against 4.01% in Q3FY23.

Operating Income for Q3FY24 stands at INR 13,912 crore. Operating Income for 9MFY24 stands at INR 43,233 crore registering a growth of 18.8%.

Operating Profit for Q3FY24 stands at INR 7,015 crore. (Excluding impact of MTM, quarterly Operating Profit would have been INR 7,482 crore for Q3FY23 and INR 7,307 crore for Q3FY24)

Operating Profit for 9MFY24 increased by 21.7% to INR 22,859 crore.

Cost to Income ratio stands at 49.57% for Q3FY24.

Return on Assets (annualised) improved to 1.20% in Q3FY24 from 1.13% in Q3FY23.

Return on Equity (annualised) for Q3FY24 stands at 19.91%. RoE increased by 168 bps YoY to 18.70% for 9MFY24

For the consolidated entity, Net Profit stood at INR 4,789 crore in Q3FY24 as against INR 4,306 crore in Q3FY23.

Asset Quality

The Gross NPA of the Bank reduced by 22.8% YoY to INR 32,318 crore in Q3FY24 and Gross NPA Ratio improved to 3.08% in Q3FY24 from 4.53% in Q3FY23.

The Net NPA Ratio of the Bank stands at a low 0.70% in Q3FY24 as compared with 0.99% in Q3FY23.

The Provision Coverage Ratio of the Bank stood at 93.39% including TWO and 77.70% excluding TWO in Q3FY24.

Slippage ratio declined to 1.06% for 9MFY24 as against 1.22% in 9MFY23. Slippage ratio for the quarter is below 1% at 0.95% for Q3FY24 as against 1.05% in Q3FY23.

Credit cost stands at 0.39% for Q3FY24 and 0.69% for 9MFY24

Capital Adequacy

CRAR of the Bank stands at 14.72% in Dec’23. Tier-I stood at 12.67% (CET-1 at 11.11%, AT1 at 1.56%) and Tier-II stood at 2.05% as of Dec’23.

The CRAR and CET-1 of consolidated entity stands at 15.14% and 11.62% respectively

The Liquidity Coverage Ratio (LCR) consolidated stands at 133%.

Business Performance

Global Advances of the Bank increased to INR 10,49,327 crore, +13.6% YoY.

Domestic Advances of the Bank increased to INR 8,62,086 crore, +13.4% YoY.

Global Deposits increased by 8.3% YoY to INR 12,45,300 crore.

Domestic Deposits increased by 6.3% YoY to INR 10,67,371 crore in Dec’23.

International Deposits grew by 22.1% on a YoY basis to INR 1,77,929 crore in Dec’23.

Organic Retail Advances grew by 22%, led by growth in high focus areas such as Auto Loan (24.3%), Home Loan (15.6%), Personal Loan (60.8%), Mortgage Loan (10.5%), Education Loan (18.3%) on a YoY basis.

Agriculture loan portfolio grew by 12.6% YoY to INR 1,34,240 crore.

Total Gold loan portfolio (including retail and agri.) stands at INR 45,074 crore, registering a growth of 28.3% on a YoY basis.

Organic MSME portfolio grew by 12.6% YoY to INR 1,15,995 crore.

Corporate advances registered a growth of 10.2% YoY and stands at INR 3,62,813 crore.