Bank of Baroda on Saturday reported a 14.38 percent increase year-on-year in its Net Interest Income (NII) at Rs 8,552 crore for the quarter ended December 31, 2021, on the back of a growth in deposits and loan portfolios. In the corresponding last fiscal, BoB had posted an NII of Rs 7,477.
In its quarterly earnings report, the bank reported an operating profit of Rs 5,483 crore, up 7.85 percent on aYoY basis. Its operating margin stood at over 64 percent, the bank reported. Further, the bank reported a net profit of Rs 2,197 crore for the quarter, an over 100 percent increase YoY from Rs 1,061 crore in Q3FY21.
Further, the bank reported that its gross non-performing asset (NPA) ratio fell by 123 bps, from 8.48 percent in Q3FY21 to 7.25 percent during the quarter under review. BoB’s net NPA ratio too fell from 2.39 percent in Q3FY21 to 2.25 percent in the latest quarter. In Q3FY22, the bank’s GNPAs stood at Rs 55,997 crore, down from Rs 63,182 crore in the year-ago period.
In the report, the bank reported that its global deposits increased 2.46 percent YoY toRs 9.78 lakh crore, while its domestic deposits grew 5 percent to Rs 8,77 lakh crore in the reporting quarter. Further, the bank stated that its domestic current account deposits stand at Rs 65,260 crore, registering a robust growth of 15.41 percent YoY. The bank’s domestic savings bank deposits grew by 12.36 percent to Rs 3.23 crore, while its overall domestic CASA registered a growth of 12.86 percent YoY.
On the loan front, the bank said its organic retail loan portfolio increased by 11.13 percent, led by a growth of 46.39 percent in the personal loan portfolio. Auto loans increased 20.54 percent and education loans increased 13.86 percent, both YoY. The bank also reported that its agriculture loan book touched Rs 1.06 crore, marking a YoY growth of 9.58 percent, while its organic MSME portfolio increased to Rs 92,668 crore, a 2.39 percent YoY increase.
(Edited by : Vijay Anand)
First Published: IST