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.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Bank of Baroda tanks 5% post Q4 results but analysts see up to 55% upside
BoB reports net loss of Rs 1,046 cr in Q4, to raise additional Rs 5,000 cr
Low provisions, stable NII: Here's what may drive Bank of Baroda's Q1 PAT
Bank of Baroda Q4 result preview: Here is what leading brokerages expect
Bank of Baroda shares trade weak ahead of Q2 results; here's what to expect
ICRA downgrades rating outlook on Bandhan Bank to 'negative'
Indian Bank launches video KYC facility enabled by VCIP technology
HSBC explores India private banking re-entry 6 years after calling it quits
BFSI Insight Summit: Why should we not seek subsidy, ask panelists
SBI Card to raise Rs 2,000 cr by issuing bonds on private placement basis
Bank of Baroda