Bank of Baroda’s Q3FY21 net profit at Rs 1,061 cr

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Mumbai: Bank of Baroda’s Q3FY21 net profit at Rs 1,061 cr. State-owned lender Bank of Baroda on Wednesday reported a net profit of Rs 1,061 crore for the third quarter of FY21.

The bank had posted a net loss of Rs 1,407 crore during the corresponding period of the previous fiscal.

On a consolidated basis, the net profit is at Rs 1,196 crore.

“Operating profit for Q3FY’21 is Rs 5,591 crore registering an increase of 12.77 percent YoY and 0.70 percent QoQ,” the bank said in a statement.

The banking major’s net interest income grew by 8.65 per cent to Rs 7,749 crore from Rs 7,132 crore reported during the like period of the previous fiscal.

“Domestic margins (NIM) increased to 3.07 percent in Q3FY21 compared with 2.96 percent in Q2FY21. Global NIM at 2.87 percent compared with 2.86 percent in Q2.”

Besides, the gross NPA ratio reduced to 8.48 percent as of December 31, 2020, against 10.43 percent as of December 31, 2019.

Similarly, the net NPA ratio reduced to 2.39 percent as against 4.05 percent as of December 31, 2019.

–IANS

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