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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

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