Bank announces Financial Results for Quarter & Year ended, 31st March 2026.
Invitation Of Applications For Empanelment Of Advocates/ Firms On Banks Panel
Mobile Number in account will be Mandatory for the issuance of Personalized Cheque Book
As an enhanced security measure, our official Corporate Website has migrated to a new domain : https://bankofbaroda.bank.in
With Bank Of Baroda personal loan, you get lowest interest rates, instant approval with minimal documentation. Checkout Bank of Baroda personal loan interest rates & eligibility. Apply now!
Apply for Bank of Baroda Home Loan online at the lowest interest rates. Checkout our home loan eligibility, interest rates, documentation. Get instant home loan approval. Apply now!
Car Loan: Apply for auto loan online by Bank of Baroda at an attractive interest rates & easy EMI option. Upto 90% financing on on-road price. Buy your dream car today!
Why should finance come in the way of future? Getting an education loan is an easy way to finance your dreams. A student loan can help you get into the university of your choice. Bank of Baroda is here to finance your dreams, education & career goals.
The easiest way to save for you, for your loved ones, and for your future. A savings account gives you the liberty to choose according to your needs and additionally give you benefits for all your transactions. With a gamut of savings account features on the table, Bank of Baroda is here to make your banking simple and easy!
Open Current Account online at Bank of Baroda to meet all your banking needs. Go to our website to learn more about the different types of current accounts we offer and apply now!
Bank of Baroda deposit plans offer convenient solutions to both working individuals as well as senior citizens. These deposits are categorised into deposits with a term period of less than 12 months, more than 12 months and recurring deposits.
An account for all. B3 Silver Account comes with maximum savings and zero Quarterly Average Balance (QAB). Also, make the most of coins and annual offers from Loyalty Rewardz to fulfill yearlong subscriptions and shopping.
Locate Us, Anytime, Anywhere
Bank of Baroda focuses on its employees, offering a career rather than just a job. Various initiatives are in place to groom employees throughout their life cycle. A comprehensive talent management system to groom future leaders of the bank.
Bank of Baroda offers various types of personal banking cards such as Credit, Debit, Prepaid, Business & Travel Cards. Choose the one best suited card for your needs.
US PPI remained unchanged in Sep’24, (est. +0.1%) following a 0.2% increase in Aug’24 (MoM), suggesting that price pressures remain broadly contained. On the other hand, University of Michigan’s consumer sentiment index moderated to 68.9 in Oct’24 from 70.1 in Sep’24. In China, government announced plans to “significantly increase” debt as part of its fiscal stimulus to boost growth. However, details of the fresh package, including the amount of debt which the government plans to raise were omitted from the announcement. Analysts had expected a package worth CNY 2-10 tn. Separate data showed that CPI inflation in China eased to 0.4% in Sep’24 (est. 0.6%) from 0.6% in Aug’24, due to weak domestic demand. Deflation in PPI also aggravated to 2.8% from 1.8% last month. Separately in UK, GDP growth bounced back to 0.2% after remaining stagnant in last two months. In India, IIP
Global indices ended mixed. US indices advanced with focus shifting towards earnings report and retail sales data. Shanghai Comp ended lower ahead of key economic releases and announcement of more stimulus measures. Sensex ended in the red and was dragged down by losses in real estate and banking stocks. However, it is trading higher today while Asian stocks are trading mixed.
Source: Bloomberg, Bank of Baroda Research
Global currencies ended mixed. DXY declined tracking PPI data. GBP rose supported by uptick in GDP growth in Aug’24. INR depreciated to a record low amidst FPI equity outflows and concerns over higher oil prices. It is however trading a tad stronger today, while other currencies are trading broadly lower.
Source: Bloomberg, Bank of Baroda
Source: RBI, Bank of Baroda Research
Note: Data for Mutual Funds as of 3 Oct and 4 Oct 2024
Oil prices fell amidst concerns of subdued demand from China.
Global currency market lost its breather amidst a firming dollar as expectations got build up over a cautious neutral stance by Fed. To support this, comments of Fed officials (Christopher Waller and Neel Kashkari), also hinted at staggered policy easing. Equity market got support from an expectation of upside surprise from Q3 results. Markets trajectory is guided by an interplay of both macro and financial factors. Reports suggested that China may resort to raising 6tn yuan from ultra long special government bonds over three years. Separately, the dollar-offshore yuan volatility also soared up as traders are pricing in risks ahead of US elections. Asset prices have remained broadly contained as fault lines to China’s growth remained with recent export data in dollar terms recording the lowest growth since May’24. In India, inflation concerns reignited over unfavourable base and risks to food inflation.
Barring Hang Seng, global indices closed higher. Stocks in the US rose to a record high led by a rally in tech stocks, with focus shifting to upcoming earnings reports and macro data. Stocks in China ended higher after a volatile session, as investors assessed the government’s new fiscal measures. Sensex rose by 0.7% supported by real estate and banking stocks. It is trading further higher today, in line with Asian peers
Note: Markets in Japan were closed on 14 Oct 2024
Except INR, other global currencies depreciated. DXY rose by 0.4% amid expectations of modest rate cuts from the Fed going forward. CNY fell as macro data remained dismal. EUR depreciated as the ECB is expected to cut rates this week. INR is trading flat today, while other Asian currencies are trading mixed.
Global yields closed mixed. Some firmness was witnessed in yields of major AEs as macro data built up case for a staggered monetary easing globally. Japan’s 10Y yield fell a tad while China’s closed stable amidst expectation of more stimulus. India’s 10Y yield fell marginally and is trading at 6.77% today.
Note: Markets in US and Japan were closed on 14 Oct 2024
Note: Data for Mutual Funds as of 9th and 10th Oct
Oil prices fell on demand woes amid continued economic weakness in China.
Global equity indices were impacted by a downward rally in tech stocks driven by weakness in semiconductor sector. Investors also remained abreast ahead of John Lee’s policy address, to get cues about trajectory of Hong Kong’s growth. Global currencies market took breather eyeing steady dollar. Similar risk off sentiment got mirrored in demand for sovereign debt class. Among major macro releases have been UK’s labour market data which showed pay growth pace was the slowest in two years, fuelling some response from BoE. Germany’s Zew survey data firmed up brimming hope of recovery. Japan’s core machinery orders witnessed loss of momentum. Apart from ECB (easing of 25bps expected), three of Southeast Asia’s central banks’ policies are due for announcement. Among them, only for Philippines easing is expected (25bps). On domestic front, RBI Deputy Governor highlighted that inflation is expected to get durably aligned to the target by FY26.
Except Nikkei, other global indices ended in red led by a weakness in tech stocks globally. Weak macro data from China also weighed on investor sentiments, with Shanghai Comp and Hang Seng falling sharply. In India, Sensex fell by 0.2% as metal and auto stocks slipped. It is trading further lower today, in line with other Asian stocks.
Global currencies ended mixed. DXY took a breather and ended flat as investors weighed geo-political risks, Fed rate path, and the outcome of the US elections. EUR fell ahead of ECB policy. INR appreciated a tad as oil prices eased. It is trading weaker today, in line with other Asian currencies.
US 10Y yield moderated as Fed official (Raphael Bostic) hinted at some slowdown in the US economy. UK’s 10Y yield witnessed downward momentum on account of weaker pay growth numbers. Japan’s 10Y yield rose marginally eyeing movement of yen amidst expectation of delay in normalisation. India’s 10Y yield moderated and is trading at 6.76% today.
Source: Bloomberg, Bank of Baroda Research │Note: Data for Mutual Funds as of 9th and 10th Oct
Oil prices fell as Israel is said to be refraining from targeting Iran’s oil refineries.
Global macro indicators showed signs of weakness. Japan’s exports contracted by 1.7% in Sep’24, on YoY basis (5.5% in Aug’24), imports softened by 2.1% (2.3% in Aug’24). In UK, CPI moderated, and retail price index inched down hinting consumption demand is losing steam. ECB Chief highlighted in her recent speech about growing concerns of geopolitical conflict on domestic growth. Indonesia and Philippines in its recent policy kept rates unchanged and signalled a cautious move, while Central Bank of Thailand against expectation went in for a 25bps cut, to revive growth. Elsewhere, China’s growth concerns continued to dominate. Housing Minister came up with new set of measures to revive the property sector. Market is closely eyeing the growth numbers of the region. On domestic front, government increased MSP of Rabi crops, which might have an inflationary impact of 18-20bps spread out throughout the year and contingent on how it is passed on.
Global indices ended mixed. US stocks rose led by a rally in banking stocks after buoyant earnings report. FTSE rose as investors raised expectations of policy easing by BoE after the CPI report. Asian equities were mostly lower, barring China. Sensex fell by 0.4% dragged by auto and tech stocks. It is however trading higher today, in line with other Asian stocks.
Except INR, global currencies ended broadly weaker. GBP fell sharply as the UK’s inflation slipped below BoE’s target, paving the way for more rate cuts. JPY declined as BoJ’s Board member supported moderate rate hikes. INR is trading flat today, while Asian currencies are trading mostly stronger.
Global yields softened as heightened geopolitical risk increased risk appetite for sovereign debt. UK’s 10Y yield has fallen the most as investors remain watchful of moderation in inflation reading. Even Germany’s 10Y yield moderated tracking comments of ECB Chief. US 10Y yield’s downward arrest was largely capped. India’s 10Y yield closed flat and is trading at 6.78% today.
Source: Bloomberg, Bank of Baroda Research │Note: Data for Mutual Funds as of 11th and 14th Oct
Oil prices ended broadly steady as investors weighed supply demand dynamics.
Global markets monitored slew of macro releases. In the US, both retail and core retail sales remained sticky in Sep’24, on a MoM basis. Initial jobless claims moderated for the week, however, continued claims remained elevated. Industrial production softened. ECB went in for easing for the 3rd time this year, amidst weaker growth prospects and downside risks to inflation. Elsewhere, in China, some impact of stimulus was visible in Q3 growth which remained upbeat (4.6%, YoY, est.: 4.5%). Industrial production also remained higher (5.4%, YoY, est.: 4.6%). Retail sales provided desired comfort (3.2%, YoY, est.: 2.5%). In Japan, CPI softened for the first time since Apr’24, led by government utility subsidies. However, BoJ will be watchful that whether moderation is a one off event or not before taking any call on rates. On domestic front, World Bank President remained bullish on India’s growth
Global indices ended mixed. Dow Jones rose to a fresh record high boosted by positive retail sales data in the US. Asian stocks were lower monitoring data releases in China. Shanghai Comp and Hang Seng declined by 1% each. Sensex fell for the 3rd straight session, led by real estate and consumer durable stocks. It is trading further lower today, while Asian stocks are trading mixed.
Except GBP, other global currencies ended weaker. DXY rose by 0.2% after US retail sales data reinforced views of modest rate cuts. EUR depreciated as the ECB cut its policy rate and warned against risks to growth. INR depreciated to a fresh record low amidst persistent outflows from domestic equities. It is trading marginally stronger today, while Asian currencies are trading mixed.
Except China (lower-amidst stimulus measures), global yields inched up. Better retail sales data in the US led to firming up of US 10Y yield. Yields of other AEs such as UK and Germany also followed suit. However, a dovish ECB policy capped increase in Germany’s 10Y yield. India’s 10Y yield inched a tad and is trading higher at 6.8% today, ahead of auction.
Source: Bloomberg, Bank of Baroda Research │Note: Data for Mutual Funds as of 14th and 15th Oct
@2024 Bank of Baroda. All rights reserved
Important disclosures are provided at the end of this report.
Disclaimer
The views expressed in this research note are personal views of the author(s) and do not necessarily reflect the views of Bank of Baroda. Nothing contained in this publication shall constitute or be deemed to constitute an offer to sell/ purchase or as an invitation or solicitation to do so for any securities of any entity. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. Bank of Baroda Group or its officers, employees, personnel, directors may be associated in a commercial or personal capacity or may have a commercial interest including as proprietary traders in or with the securities and/ or companies or issues or matters as contained in this publication and such commercial capacity or interest whether or not differing with or conflicting with this publication, shall not make or render Bank of Baroda Group liable in any manner whatsoever & Bank of Baroda Group or any of its officers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time
Connect with Us
For further details about this publication, please contact: Economics Research Department Bank of Baroda +91 22 6698 5794 chief.economist@bankofbaroda.bank.in
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
Related Articles
Request Call Back