BANKBARODA Q2 FY27 Guidance vs Delivery (BANKBARODA Management Mirror)

FY27 Credit Growth Guidance Upgraded to 13%-15% Following 18.3% Q2 FY27 Advance Growth Against Jun'26 Qtr Target

In Q2 FY27, global advances grew 18.3% YoY (13.5% excluding FCNR(B)) and total deposits grew 16.4% YoY (11.2% excluding FCNR(B)), as reported in Sep'26 Qtr results. Management had previously guided 12% to 14% for credit growth and 10% to 12% for deposit growth for FY27 in the Mar'26 Qtr concall, which was reaffirmed in the Jun'26 Qtr concall; the reported Q2 growth comfortably exceeded these full-year baseline ranges. Consequently, in the Sep'26 Qtr concall, management upgraded its FY27 credit growth guidance range to 13% to 15% and raised its deposit growth guidance range to 11% to 13%. Management expects incremental credit expansion of roughly INR 1.30 lakh crore over H2 FY27, supported by an anticipated INR 60,000 crore incremental growth in the RAM book and an active corporate sanction pipeline of roughly INR 60,000 crore.