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Bank of Baroda Q2 net profit jumps 127% to Rs 1,679 crore; NII rises 7%

Net interest income rose almost 7 per cent to Rs 7,508 crore, compared to Rs 7,028 crore in Q2Fy20

Bank of Baroda
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Asset quality improved from the past quarters as gross NPAs stood at 9.14 per cent, compared to 9.39 per cent in Q1FY21

Subrata Panda Mumbai
Public sector lender Bank of Baroda has more than doubled its second-quarter net profit at Rs 1,679 crore on the back of lower provisions and a stable net interest income.

In the corresponding period of the previous financial year (Q2FY20), the bank had reported a net profit of Rs 737 crore, while it logged a net loss of Rs 864 crore in the previous quarter.

Net interest income rose almost 7 per cent to Rs 7,508 crore, compared to Rs 7,028 crore in Q2Fy20. It reported a net interest margin of 2.96 per cent, up 33 basis points from last quarter. Shares

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First Published: Oct 29 2020 | 10:26 PM IST

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