Bank of Baroda posts highest quarterly net profit at ₹4,775 crore

Bank of Baroda It posted the highest quarterly net profit in the fourth quarter at ₹4,775 crore on the back of strong growth in net interest income and sharp decline in loan loss provisions.

The net profit of the public sector bank in the aforementioned quarter increased by 168 per cent year-on-year (YoY) from ₹1,779 crore in the same period last year.

the banks The Board of Directors has recommended a dividend of EGP 5.50 for each equity share at a nominal value of USD 2. Net interest income increased by 34% year on year to Rs.11,525 crore (Rs.8,612 crore).

Provisions for loan losses fell sharply by 94 per cent to Rs. 320 crore (Rs. 5,200 crore).

Global net national income improved to 3.53 per cent from 3.08 per cent at the end of March 2022. Global advances increased by 18.5 per cent year-on-year to Rs.9,69,548 crore. Global deposits increased by 15.1 per cent to INR 1,203,688 crore.

The overall NPA position improved to 3.79 percent of total advances versus 4.53 percent in the prior quarter. NPA’s net position also improved to 0.89 percent of net advances versus 0.99 percent in the prior quarter.