Bank Of Baroda's September Quarter Profit Up 24% On Year-On-Year Basis

The bank's net interest income rose by 2 per cent to Rs 7,566 crore in September quarter of 2021-22

Bank Of Baroda's September Quarter Profit Up 24% On Year-On-Year Basis

Bank of Baroda's net profit for September quarter recorded growth over year-ago period

Bank of Baroda recorded a 24 per cent rise in standalone net profit, which stood at Rs 2,088 crore in the September quarter of the current fiscal as against Rs 1,679 crore during the corresponding period of last year.

The bank's net interest income rose by 2 per cent to Rs 7,566 crore in September quarter of 2021-22 as compared to Rs 7,508 crore recorded in second quarter of 2020-21.

It's net interest margin also increased to 2.85 per cent in September quarter of current fiscal, from 2.78% in the corresponding period of last year.

Gross non-performing assets (NPAs) as percentage of gross advances, slid to 8.1 per cent from 8.86 per cent in June quarter. The gross NPA of the bank reduced to Rs 59,504 crore in September quarter of current financial year, from Rs 65,698 crore recorded in the corresponding period of last year.

Net NPAs as percentage of gross advances fell to 2.8 per cent from 3.03 per cent in June quarter.

.