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Bank of Baroda Q2 net profit up 24% at Rs 2,088 cr, asset quality improves

Net interest income rises 2% to Rs 7,566 cr

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2 min read Last Updated : Nov 10 2021 | 4:58 PM IST

Public sector lender Bank of Baroda on Wednesday reported 24% rise in standalone net profit at Rs 2,088 crore in the September quarter as against Rs 1,679 crore in year-ago period.

Net interest income rose 2% to Rs 7,566 crore as compared to Rs 7,508 crore in Q2FY21. Net Interest Margin (NIM) increased to 2.85% in Q2FY22 from 2.78% in Q2FY21. The Provision Coverage Ratio of the bank stood at 83.42%.

The lender's asset quality improved on a sequential basis. Gross non-performing assets (NPAs) as percentage of gross advances fell to 8.1% from 8.86% in June quarter. The Gross NPA of the bank reduced to Rs 59,504 crore in Q2FY22 from Rs 65,698 crore in Q2FY21. Net NPAs as percentage of gross advances fell to 2.8% from 3.03% in June quarter.