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Net Interest Income expanded 14.38 per cent Y-o-Y to Rs. 8552.03 crore, while Net Interest Margin remained at 3.13 per cent.
Photo Credit : Reuters
Today, Bank of Baroda announced a 107 per cent a hike in net profit for December quarter on the back of higher net income and lower provisions. Net benefit for the quarter remained at Rs. 2197.03 crore against Rs. 1061.11 crore a year prior.
Net Interest Income (NII) expanded 14.38 per cent Y-o-Y to Rs. 8552.03 crore. Net Interest Margin (NIM) remained at 3.13 per cent, an increment of 36 premise points (bps) Y-o-Y. Provisions and contingencies fell 27.33 per cent from a year prior to Rs. 2507.04 crore.
Other incomes, which incorporates fee, exchanging benefit and incidental pay, slipped 13.45 per cent Y-o-Y to Rs. 2519.26 crore in the three months to December.
Gross Non-Performing Assets (NPAs) reduced to Rs. 55997 crore in the quarter from Rs. 63182 crore last year. Gross NPAs proportion were at 7.25 per cent in Q3 FY22, down 86 bps successively and 123 bps Y-o-Y. Post-provisions, the net NPA proportion was at 2.25 per cent in Q3, against 2.83 per cent in the September quarter of FY22 and 2.39 per cent in the year-prior quarter.
4.75 per cent of advances grew Y-o-Y Rs. 7.32 trillion as on 31 December. Retail loan portfolio expanded 11.13 per cent to Rs. 1.28 trillion. Yield on progresses improved successively to 6.92 per cent in the quarter from 6.5 per cent. 2.45 per cent of deposits grew Y-o-Y to Rs. 9.78 trillion.