Bank of Baroda’s December quarter profit rose 75 per cent to Rs 3,853 crore

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The bank’s profit has increased due to the improvement in the bad loan condition. Bank of Baroda made a net profit of Rs 2,197 crore in the October-December quarter of the latest fiscal year 2021-22.

Public sector Bank of Baroda (BoB) reported a 75% increase in its consolidated net profit of Rs 3,853 crore for the third quarter of the current financial year. The bank’s profit has increased due to the improvement in the bad loan condition. Bank of Baroda made a net profit of Rs 2,197 crore in the October-December quarter of the latest fiscal year 2021-22. In information sent to stock markets on Friday, the bank said its total revenue also increased from Rs 20,482 crore to Rs 27,092 crore in the quarter under review.

In terms of asset quality, the bank’s gross non-performing assets (NPA) were reduced to 4.53% as of December 31, 2022. As of December 31, 2021, it was 7.25 percent. At the same time, the bank’s net NPA also decreased from 2.25 percent to 0.99 percent during this period. Due to this, the bank’s provision (other than taxes) and other contingencies were reduced to Rs 2,404 crore, from Rs 2,507 crore in the same period last year.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.



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