Bank of Baroda most profitable bank in 2016 – Report

Business News of Sunday, 13 August 2017

Source: Myjoyonline.com

2017-08-13

The rankings have over the years put Baroda as the most profitable bank

Indian Bank of Baroda has again emerged as the most profitable bank in the country according to the 2017 PWC Banking Survey report.

The rankings have over the years put Baroda as the most profitable among the banks reviewed. This is about the third time that the Bank has achieved this feat.

According to the report, which reviewed the published financial statements, it puts Baroda ahead of 24 other banks assessed in the rankings.

The Indian bank recorded almost 90 percent growth when the profitability ratio was carried out on its financials, the report said.

It also comes up tops, in terms of how it is able to turn around its resources to grow its revenue as well as its return on assets.

The bank according to recent reports by the Bank of Ghana, offered the best interest rates to businesses.

At the 2017 Ghana Banking Awards, it was awarded Best Bank in Competitive Pricing.

Bank of Baroda recently told JOYBUSINESS that it has been able to achieve this because of prudent management of its resources.

Ecobank came on top in terms of having the largest share of industry deposits, loan advances and assets.

The rankings also put GCB as having the best net interest margin while UBA stood out as the best in Return on Equity with First National Bank being the most liquid bank.

Concerns with the ranking s

Some industry players have questioned the basis of the rankings, but Senior Country Partner at PricewaterhouseCoopers Vish Ashiagbor tells JOYBUSINESS their review was based on published financials for 2016 which can be verified by anyone.

Findings of the survey

Majority of the banks in the survey have indicated that they do not presently have a detailed task or level plan for transition to risk based capital regime should the regulator should announce the road map.

The survey which engaged Chief Executives, Chief Risk Officers and Chief Finance Officer of 17 banks also showed that there was not a detail communication plan to engage shareholders, however, they added that existing plans would eventually support.

These are some of the several questions posed to the banking chiefs in the PWC survey.

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