Bank of Baroda gets 'IND A1+' rating

India Ratings and Research (Ind-Ra) has assigned Bank of Baroda (BOB) an 'IND A1+' rating for its additional Certificate of Deposits, while also affirming its existing ratings, reflecting BOB's high systemic importance and expected government support. The ratings are underpinned by BOB's large franchise, pan-India presence, strong capitalization, and superior liquidity. As of 3QFY25, BOB's common equity tier-I (CET-I) ratio stood at 12.38%, with a total capital adequacy ratio of 15.96%. The bank maintained a provision coverage ratio (PCR) of 76.0% in 3QFY25. While the bank's CASA deposit ratio declined slightly to 37.18%, overall deposits grew by 11.8% yoy. Ind-Ra expects BOB to maintain a return on assets of around 1.1% in FY25. As of 3QFY25, gross and net NPAs stood at 2.43% and 0.59%, respectively.