Bank of Baroda
Bank of Baroda's net profit increases by 24 pc to Rs 2,088 crore YoY
Mumbai/IBNS: Public sector lender Bank of Baroda announced a net profit of Rs 2,088 crore in Q2FY22, up 24.39 percent from Rs 1,679 crore in Q2FY21.
Net Interest Income (NII) increased to Rs 7,566 crore in Q2FY22 as against Rs 7,410 crore in Q2FY21, registering a growth of 2.11 percent YoY.
The bank said its Non-Interest Income during Q2FY22 increased by 22.99 percent YoY to Rs 3,579 crore.
The Operating Income of the bank increased by 8.00 percent YoY to Rs 11,145 crore in Q2FY22.
Bank of Baroda reported a standalone Net Profit of Rs 2,088 crore in Q2FY22 as against Rs 1,679 crore in Q2FY21, registering a growth of 24.39 percent YoY.
Cost of Deposits reduced to 3.52 percent in Sep’21 as against 3.99 percent in Sep’20. Yield on Advances stood at 6.55 percent in Sep’21 as compared with 7.08 percent in Sep’20.
Operating Profit of the Bank increased to Rs 5,670 crore in Q2FY22, up by 5.76 percent on a YoY basis.
Global NIM (Net Interest Margin) increased to 2.85 percent in Q2FY22 from 2.78 percent in Q2FY21.
Return on Assets (RoA) improved to 0.73 percent in Sep’21 from 0.59 percent in Sep’20.
For the consolidated entity, Net Profit stood at Rs 2,168 crore in Q2FY22 as against Rs 1,771 crore in Q2FY21.
The Gross NPA of the bank was reduced to Rs 59,504 crore in Q2FY22 from the level of Rs 65,698 crore in Q2FY21. Subsequently the Gross NPA Ratio improved to 8.11 percent in Q2FY22 from 9.14 percent in Q2FY21.
The Net NPA Ratio of the Bank stood at 2.83 percent in Q2FY22 as compared with 2.51 percent in Q2FY21.
The Provision Coverage Ratio of the Bank stood at 83.42 percent including TWO and 67.06 percent excluding TWO in Q2FY22.
Provision Coverage Ratio (PCR) is the ratio of provisioning to gross non-performing assets
CRAR (Capital-to-risk weighted asset ratio) of the Bank improved to 15.55 percent in Sep’21 from 13.26 percent in Sep’20. Tier-I stood at 13.21 percent (CET-1 at 11.39 percent, AT1 at 1.82 percent) and Tier-II stood at 2.34 percent as of Sep’21.
The CRAR and CET-1 of consolidated entity is at 16.06 percent and 12.02 percent respectively.
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