Bank of Baroda December Quarter Net Profit Doubles To Rs 2,197 Crore

Bank of Baroda's web revenue for December quarter doubled from the corresponding interval

New Delhi: Bank of Baroda (BoB) has recorded a web revenue of Rs 2,197 crore within the third quarter of the present fiscal, which is greater than double the revenue of Rs 1,061 crore, which it had reported within the corresponding interval of final 12 months.The state-owned financial institution's whole earnings in the course of the third quarter of 2021-22 rose to Rs 20,482.26 crore as towards Rs 20,407.45 crore in third quarter of 2020-21, BoB mentioned in a regulatory submitting.Interest earnings rose to Rs 17,963 crore within the quarter underneath overview from Rs 17,496.71 crore within the year-ago quarter.The financial institution witnessed enchancment in its unhealthy mortgage ratio, with the gross non-performing belongings (NPAs) falling to 7.25 per cent of the gross advances as of December 31, 2021 from 8.48 per cent by finish of December 2020.Net NPAs got here all the way down to 2.25 per cent from 2.39 per cent.Provisions for unhealthy loans and contingencies fell to Rs 2,507 crore for quarter ended December 2021 as towards Rs 3,449.90 crore within the year-ago quarter.On a consolidated foundation, the web revenue throughout October-December 2021-22 rose to Rs 2,463.75 crore, up from Rs 1,195.96 crore in 12 months in the past interval. Income elevated to Rs 22,072.99 crore from Rs 21,815.76 crore.

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