Bank of Baroda’s fourth quarter profit reaches 1,779 crores

New Delhi . Public sector Bank of Baroda reported a profit of Rs 1,779 crore in the fourth quarter of the financial year ended March 2022. The bank had a loss of Rs 1,047 crore in the same quarter of the financial year 2020-21. Bank of Baroda (BoB) said in a information sent to the […]
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Bank of Baroda’s fourth quarter profit reaches 1,779 crores

New Delhi . Public sector Bank of Baroda reported a profit of Rs 1,779 crore in the fourth quarter of the financial year ended March 2022. The bank had a loss of Rs 1,047 crore in the same quarter of the financial year 2020-21. Bank of Baroda (BoB) said in a information sent to the stock exchanges that its total income fell to Rs 20,695.90 crore in the January-March period of the financial year 2021-22.

It was Rs 21,501.94 crore in the corresponding period of the financial year 2020-21. The bank’s net profit for the last financial year has increased manifold to Rs 7,272.28 crore from Rs 828.95 crore in the financial year 2020-21. However, its total income declined to Rs 81,364.73 crore during the fiscal year ended, from Rs 83,429 crore a year ago. On the basis of asset quality, the bank’s gross NPA stood at 6.61 percent in the last quarter, as against 8.87 percent in the same period of the financial year 2020-21.

In value terms, the gross NPAs of the bank declined to Rs 54,059 crore for the quarter ended March 2022. It was Rs 66,671 crore in the same period of the financial year 2020-21. The bank’s net NPAs also declined to Rs 13,365 crore in the last quarter as against Rs 21,780 crore in the same period a year ago.

Bank of Baroda said its board of directors has recommended a dividend of Rs 1.20 per share to shareholders for the financial year 2021-22. According to SBI, its net interest income grew 15.3 per cent year-on-year to Rs 31,198 crore, against analysts’ expectation of Rs 31,570 crore.