https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Bank of Baroda Reports 5.6 Percent Rise in Q3 Profit at Rs. 4,837 Crore

Total income for the quarter rose to ₹34,676 crore, up from ₹31,416 crore a year ago, as per the regulatory filing. Interest income also saw a slight increase, reaching ₹30,908 crore compared to ₹28,605 crore in the corresponding period last year.
Indian Masterminds Stories

State-owned Bank of Baroda (BoB) reported a 5.6% increase in its net profit, reaching ₹4,837 crore for the December quarter, driven by lower interest income. In comparison, the bank had posted a net profit of ₹4,579 crore during the same period last year.

ADVERTISEMENT

Total income for the quarter rose to ₹34,676 crore, up from ₹31,416 crore a year ago, as per the regulatory filing. Interest income also saw a slight increase, reaching ₹30,908 crore compared to ₹28,605 crore in the corresponding period last year.

The moderate profit growth was attributed to a nearly 3% rise in Net Interest Income (NII), which stood at ₹11,417 crore for Q3FY25, up from ₹11,101 crore a year ago, said BoB MD and CEO Debadatta Chand in a media briefing. Operating profit grew to ₹7,664 crore from ₹7,015 crore in the previous fiscal’s third quarter.

On the asset quality front, the bank improved its gross non-performing assets (NPAs) ratio to 2.43%, down from 3.08% last year. Net NPAs also decreased to 0.59% from 0.7% a year ago. However, provisions (excluding tax) rose to ₹1,082 crore for the quarter, compared to ₹666 crore last year.

ADVERTISEMENT

The bank’s net interest margin (NIM) dropped to 2.9% from 3.10% in Q3FY24. Despite this, the outlook for NIM remains in the range of 3-3.10% for the current fiscal. The Capital Adequacy Ratio fell to 14.72%, down from 15.96% last year, though the bank stated that no additional fundraising is required to support credit growth this year.


Indian Masterminds Stories
Related Stories
NEWS
Coal India Limited_CIL_logo_resized
Coal India Limited and DF India Sign Joint Venture Agreement for Renewable Energy Projects
IPS-logo-resized_new
IPS Officer Babitarani Swain Appointed SP of Chandel District, Manipur
Civil Aviation Resized
IAS Shrikesh B Lathkar Elevated to Director-Level Role in Civil Aviation Ministry
IRS Officers ndian revenue Services
IRS Officer Shraiy Suri Posted in GST Policy Wing, CBIC
R Balakrishnan IAS
Former Odisha IAS Officer R. Balakrishnan Appointed Director of International Institute of Tamil Studies
retirement
8 IPS Officers Set to Retire in February 2025, Check Names Here
Punjab_govt_resized
5 IAS Officers Transferred in Punjab, Vishesh Sarangal Made Chief Administrator, Greater Mohali Area Development Authority
IPS Abhilasha Bisht
Hyderabad Tribunal Orders Senior IPS Abhilasha Bisht to Join Andhra Pradesh Cadre, Denies Interim Relief
Videos
Vikram Dahia IPS Pilibhit
Duped, Trapped, and Imprisoned: The ‘Dunki’ Dilemma
IAS Sanjeev Jaiswal
Can Mumbai Solve Its Housing Crisis? MHADA's Bold Strategy
Sharan Kambale IPS
"Dreams Don’t Have Shortcuts" - Sharan Kambale’s Remarkable UPSC Journey
ADVERTISEMENT
Latest
Coal India Limited_CIL_logo_resized
Coal India Limited and DF India Sign Joint Venture Agreement for Renewable Energy Projects
IPS-logo-resized_new
IPS Officer Babitarani Swain Appointed SP of Chandel District, Manipur
ADVERTISEMENT
Videos
Vikram Dahia IPS Pilibhit
IAS Sanjeev Jaiswal
Sharan Kambale IPS
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT