Bank of Baroda forecasts FY24 loan growth at 14-16%, net interest margin at 3.15%

Bank of Baroda expects a robust loan growth of 14-16% for the current financial year with a net interest margin (NIM) of around 3.15%.

Debadatta Chand, the MD and CEO of the bank explained, "...for the full year, NIM would be around 3.15%, plus or minus 5 basis points. On the credit side, the growth is almost at 18%. So in a scenario where growth is very fast, you have to have some levelling on the NIM side, and that is how we are managing the book in terms of the NIM."

The bank's domestic net interest margin for the first half was at 3.30%.