Public sector Bank of Baroda’s net profit doubles in October-December quarter 2,197 crore against 1,061 crore during the corresponding quarter of the previous year, registering a growth of over 100 per cent year-on-year.
Vadodara-headquartered bank’s net interest income (NII) rises 8,552 crore in Q3 FY22 as against 7,477 crore in Q3 FY21, registering a growth of 14.38 per cent YoY.
Bank’s operating profit increased 5,483 crore in the said quarter, showing an increase of 7.85 per cent year-on-year. It is at operating profit for the nine months of the financial year till December 31 16,754 crore, an increase of 11.95 per cent on a year-on-year basis.
The bank’s domestic CASA grew at 12.86 per cent year-on-year basis and the Gross NPA Ratio rose to 7.25 per cent in December’21 from 8.48 percent in December’20.
“The Bank’s Gross NPAs stood at Rs 55,997 crores in Q3 of FY 2012 from Rs 63,182 crores in Q3 of FY 2011 and the Gross NPA Ratio increased to 7.25% from 8.48% in Q3 of FY 2012. The net NPA ratio of the bank stood at 2.25% in Q3FY22 as compared to 2.83% in Q2FY22,” a statement from BoB said.
BoB’s net interest margin (NIM) increased to 3.13 per cent in December’21 from 2.77 per cent in December’20, while global advances improved to 5.17 per cent sequentially. 7,71,994 crores. Its domestic advance increased 6,54,315 crore, up 4.96 per cent on QoQ and 3.36 per cent on a year-on-year basis.
BoB’s organic retail loan portfolio grew 11.13 per cent, led by growth in personal loans (up 46.39 per cent), auto loans (20.54 per cent) and education loans (13.86 per cent).
Bank of Baroda’s stock was closed on 106.40, below 3.15 or 2.88 percent, closed from the previous session 109.55 on NSE.
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