Bank Of Baroda Reports Net Profit Of Rs 1,208 Crore In June Quarter, NII Up 15%

Bank of Baroda introduced down its value of deposits by 103 foundation factors to three.92 per cent.

Bank of Baroda introduced its April-June quarter outcomes for the monetary 12 months 2021-22, reporting a web revenue of Rs 1,209 crore on a standalone foundation, in comparison with a web lack of Rs 864 crore within the corresponding quarter final 12 months. The state-owned lender's web curiosity revenue (NII) - the distinction between curiosity earned and curiosity expended - elevated 15.7 per cent to Rs 7,892 crore within the first quarter of the present fiscal, in comparison with Rs 6,816 crore within the year-ago interval.

The financial institution's working revenue within the June quarter grew 41.2 per cent year-on-year to Rs 5,707 crore. Its value to revenue ratio fell by 574 bps year-on-year to 47.45 per cent within the Juen quarter, in response to a regulatory submitting by the financial institution to the inventory exchanges.

The financial institution's home web curiosity margin stood at 3.12 per cent. The gross non-performing property (NPAs) stayed flat at 8.86 per cent within the Juen quarter on a sequential foundation. In the previous January-March quarter, the financial institution's gross NPAs had been at 8.87 per cent.

The web NPAs or dangerous loans stood at 3.03 per cent within the April-June quarter. Bank of Baroda introduced down its value of deposits by 103 foundation factors to three.92 per cent. According to its assertion, the financial institution reoriented its mortgage e-book to excessive yield segments. Its natural retail loans elevated by 11.8 per cent year-on-year.

 Within its retail loans, the auto loans elevated by 25 per cent year-on-year and private loans grew 19.5 per cent. The financial institution's gold loans elevated by 37.7 per cent year-on-year.

On Friday, August 6, shares of Bank of Baroda settled 1.03 per cent increased at Rs 83.35 apiece on the BSE.