Bank of Baroda net profit more than doubles at Rs 5.28 billion in Q1

Bank of Baroda had posted a net profit of Rs 2.03 billion in April-June last year

Public sector lender Bank of Baroda's net profit more than doubled to Rs 5.28 billion in the first quarter ended June, 2018, on improvement in its interest margin. The stabilisation of asset quality leading to a fall in provisions for bad loans also helped the bank report a robust growth in net profit.

The bank had posted a net profit of Rs 2.03 billion in the year-ago quarter. Its net interest income rose by 28.7 per cent at Rs 43.81 billion in the first quarter of 2018-19 fiscal year. 

The bank's net interest margin (NIM) improved to 2.65% during the quarter from