Latest News | BoB Profit Rises Nearly 6 Pc to Rs 4,837 Cr in Dec Qtr
Get latest articles and stories on Latest News at LatestLY. State-owned Bank of Baroda (BoB) on Thursday reported a 5.6 per cent increase in net profit at Rs 4,837 crore in the December quarter.
New Delhi, Jan 30 (PTI) State-owned Bank of Baroda (BoB) on Thursday reported a 5.6 per cent increase in net profit at Rs 4,837 crore in the December quarter.
The Mumbai-based bank had earned a net profit of Rs 4,579 crore in the same quarter a year ago.
Total income increased to Rs 34,676 crore from Rs 31,416 crore in the same period a year ago, BoB said in a regulatory filing.
Interest income also rose to Rs 30,908 crore during the quarter under review compared to Rs 28,605 crore in the year-ago period.
Operating profit grew to Rs 7,664 crore from Rs 7,015 crore in the third quarter of previous fiscal.
On the asset quality front, the bank's gross non-performing assets ratio moderated to 2.43 per cent against 3.08 per cent a year ago.
Similarly, net NPAs, or bad loans, came down to 0.59 per cent from 0.7 per cent at the end of the third quarter last fiscal.
However, the overall provisions, excluding tax, increased to Rs 1,082 crore during the quarter from Rs 666 crore a year ago.
Capital Adequacy Ratio declined to 14.72 per cent from 15.96 per cent at the end of the third quarter of the previous financial year.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)