Bank of Baroda (BoB) is an Indian state-owned International banking and financial services company headquartered in Vadodara. It is the second largest bank in India, next to State Bank of India.
BoB also has international presence, with 107 branches/offices in 24 countries including 61 branches/offices of the bank, 38 branches of its 8 subsidiaries and 1 representative office in Thailand. The deposits and advances as on 31st March, 2017 stood at Rs 6.1tn and 3.9tn respectively.
At CMP of Rs 132.65, BoB is trading at a Sep-17 P/B of 0.71. Given the recent turnaround plan laid by the management and the results being reflected in its quarterly financials and attractive valuations, we are POSITIVE on Bank of Baroda.