Bank of Baroda | Q3FY22
Bank of Baroda net profit doubles YoY in Q3FY22
Vadodra: Public sector lender Bank of Baroda said Saturday its net profit in the quarter ended December 2021 doubled to Rs 2,197 crore in Q3FY22 against Rs 1,061 crore in Q3FY21.
The bank said its Net Interest Income (NII) increased to Rs 8,552 crore in Q3FY22 as against Rs 7,477 crore in Q3FY21, registering a growth of 14.38 percent YoY.
The bank's net profit increased to Rs 5,494 crore in 9MFY22 from Rs 1,875 crore in 9MFY21.
The operating income of the bank increased by 6.57 percent YoY to Rs 11,071 crore in Q3FY22 while its operating income for 9MFY22 registered a growth of 10.57 percent and stood at Rs 32,972 crore as against Rs 29,819 crore in 9MFY21.
Cost of Deposits reduced to 3.50 percent in Dec’21 as against 3.85 percent in Dec’20.
The yield on Advances improved sequentially to 6.92 percent in Dec’21 from 6.55 percent in Sep’21.
The operating profit of the Bank increased to Rs 5,483 crore in Q3FY22, up by 7.85 percent on a YoY basis. Operating Profit for 9MFY22 stands at Rs 16,754 crore registering a growth of 11.95 percent YoY.
Bank reported a standalone Net Profit of Rs 2,197 crore in Q3FY22 as against Rs 1,061 crore in Q3FY21.
The Net Profit for the 9 months period increased to Rs 5494 Crore in Dec’21 from Rs 1875 Crore in Dec’20.
Global NIM increased to 3.13 percent in Q3FY22 from 2.77 percent in Q3FY21.
Return on Assets (RoA) improved by 37bps to 0.74 percent in Q3FY22 from 0.37 percent in Q3FY21.
For the consolidated entity, Net Profit stood at Rs 2,464 crore in Q3FY22 as against Rs 1,196 crore in Q3FY21.
The Gross NPA of the Bank has reduced to INR 55,997 crore in Q3FY22 from the level of INR 63,182 crore in Q3FY21 and Gross NPA Ratio improved to 7.25 percent in Q3FY22 from 8.48 percent in Q3FY21.
The Net NPA Ratio of the Bank improved to 2.25 percent in Q3FY22 as compared with 2.83 percent in Q2FY22.
The Provision Coverage Ratio of the Bank stood at 85.95 percent including TWO and 70.60 percent excluding TWO in Q3FY22.
CRAR of the Bank improved to 15.47 percent in Dec’21 from 12.93 percent in Dec’20. Tier-I stood at 13.24 percent (CET-1 at 11.30 percent, AT1 at 1.94 percent) and Tier-II stood at 2.23 percent as of Dec’21.
The CRAR and CET-1 of consolidated entity stands at 15.97 percent and 11.91 percent respectively.
Global Deposits increased by 2.46 percent to Rupees 9,78,034 crore on a YoY basis. Domestic Deposits increased by 5 percent to Rupees 8,76,555 crore in Dec’21.
Domestic Current Account Deposits stands at Rupees 65,260 crore, registering a robust growth of 15.41 percent on a YoY basis.
Domestic Savings Bank Deposits grew by 12.36 percent to Rupees 3,22,909 crore. Overall Domestic CASA registered a growth of 12.86 percent on a YoY basis.
The organic retail loan portfolio of the Bank grew by 11.13 percent led by growth in the Personal loan portfolio by 46.39 percent, Auto loan by 20.54 percent, and Education loan by 13.86 percent on a YoY basis.
Agriculture loan portfolio reached Rupees 1,05,694 crore, marking a YoY growth of 9.58 percent
Organic MSME portfolio increased to Rupees 92,668 crore grew by 2.39 percent on a YoY basis.
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