Bank of Baroda Q4 profit at Rs 4,775 crore
State-owned Bank of Baroda (BoB) on Tuesday reported over 2-fold jump in its March quarter net profit at Rs 4,775.33 crore on account of higher interest income and low provisions for bad loans.
BoB is the fastest to issue 1,000 Electronic Bank Guarantees on the NeSL Platform
New Delhi: State-owned Bank of Baroda (BoB) on Tuesday reported over 2-fold jump in its March quarter net profit at Rs 4,775.33 crore on account of higher interest income and low provisions for bad loans.
The bank's net profit in January-March 2021-22 was Rs 1,778.77 crore on a standalone basis. Interest income increased to Rs 25,857 crore in fourth quarter of 2022-23 from Rs 18,174 crore in the year-ago period, the bank said in a stock exchange filing. Provisions for bad loans and contingencies were nearly halved to Rs 1,420 crore during January-March 2023 from Rs 3,736 crore a year ago.