Bank of Baroda Q3FY08 Results

Bank of Baroda has announced the following Unaudited results for the quarter ended December 31, 2007:

The Bank has posted a net profit of Rs 5010.50 million for the quarter ended December 31, 2007 as compared to Rs 3291.30 million for the quarter ended December 31, 2006. Total Income has increased from Rs 26681.10 million for the quarter ended December 31, 2006 to Rs 36201.80 million for the quarter ended December 31, 2007.

Bank of Baroda, Andhra Bank MoU with UK partner

Bank of Baroda has informedthat the Bank, Andhra Bank and M/s. Legal & General Group plc, UK have signed an MoU on November 16, 2007 to form a Joint Venture (JV) for Life Insurance Business, wherein the equity participation in the proposed JV would be (i) Bank of Baroda - 44%, (ii)Andhra Bank - 30% and (iii) M/s. Legal and General plc, UK - 26%.

The partners would initiate various steps to operationalise the JV in due course.

Bank of Baroda Q2FY07 Results

Bank of Baroda has announced the following Unaudited results for the quarter ended September 30, 2007:

The Bank has posted a net profit of Rs 3271.90 million for the quarter ended September 30, 2007 as compared to Rs 2883.60 million for the quarter ended September 30, 2006. Total Income has increased from Rs 24550.90 million for the quarter ended September 30, 2006 to Rs 33338.30 million for the quarter ended September 30, 2007.

Merrill Lynch - Bank of Baroda

Margin focus to be maintained in Bank of Baroda

Merrill Lynch has a price target of Rs365. Re-iterate Buy.