Bank of Baroda eyeing Rs 4.25 lakh cr turnover this fiscal

Public sector Bank of Baroda is eyeing a total turnover of Rs 4.25 lakh crore in the current fiscal, bank's Chairman and Managing Director M D Mallya said here today.

Briefing reporters after inaugurating the bank's sixth branch at Surathkal, Mallya said, the bank has already crossed a total business turnover of Rs 3.36 lakh crore in the fiscal ending March 31 this year, registering a 30 per cent growth.

As on March 31, this year, net profit rose by 55.20 per cent to Rs 2,227 crore against Rs 1,400 crore recorded in the last fiscal.

The Non Performing Assets came down to 0.31 per cent, the lowest in the banking industry and CAR stood at 14.05 per cent, he said.

The bank has about 3,000 branches across the country and 74 branches in 25 countries abroad, Mallya said. It plans to open six more branches in Karnataka in the current year, taking the total number in the state to 62, he said.