Bank of Baroda slashes adex by 20% to Rs 350 crore in FY25

Public sector lender Bank of Baroda has slashed its advertising and publicity expenditures by 20.2% in fiscal year 2025. The company's adex declined to Rs 350 crore in FY25 compared to Rs 439 crore in the year-ago period.

In recent years, India's banking, financial services, and insurance sector (BFSI) has been robustly spending on advertisements across digital, TV, and print. Amid the boom in digital marketing boom, public lenders are splurging capital on ads on social media platforms, quick commerce and e-commerce platforms to improve their brand equity and bolster their position in the market.

A TAM Adex report revealed that the BFSI sector's ad impressions observed an increase of 74% during the first half of 2024 compared to H12022.

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Bank of Baroda's annual report revealed that the public lender executed a multifaceted marketing and branding strategy that spanned multiple channels and touchpoints in FY25. The state-owned bank executed over 30 digital campaigns spanning sports, financial literacy, fraud awareness, and cyber security during the year.

"We embarked on an extensive multi-channel advertising campaign that included Television, Radio, Print, and Cinema with a cumulative reach of approx. 200 crore," according to the bank's annual report.

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For the FY26 outlook, the bank said it will continue to enhance digital capabilities to expand reach and engagement with customers.

In terms of financials, BoB registered a 10% rise in net profit in FY25 year-on-year. The net profit rose to Rs 19,581 crore up from Rs 17,789 crore 17788,78,46 in the previous financial year. The bank’s net interest income (NII) grew by 2.1% to Rs 45,659 crore, and non-interest income climbed by 14.8% to Rs 16,647 crore. BoB registered an operating profit of Rs 32,435 crore- an increase of 4.7% during the year.