• Shares of Bank of Baroda rose over 3% in Friday afternoon deals on BSE
Bank of Baroda (BOB) on Friday said it has declared the highest ever quarterly standalone net profit of ₹3,853 crore for the third quarter ended December 2022 (Q3 FY23), as against ₹2,197 crore in the year-ago quarter. 75% more than cr. , Shares of Bank of Baroda were trading up over 3% at ₹159 per share in Friday's afternoon deals on the BSE.
Its net interest income (NII) grew 26% year-on-year (YoY) to ₹10,818 crore as compared to ₹8,552 crore. Net interest margin (NIM) stood at 3.37% in the October-December period, an increase of 24 basis points (bps) for the quarter.
The lender said it achieved total business of ₹20,73,385 crore by December 2022, registering a growth of 18.5%. Its operating profit grew 50% to ₹8,232 crore in Q3.
The bank's asset quality improved with gross non-performing assets (NPAs) coming in at 4.53% versus 5.31% from the previous quarter to September 2022, while net NPAs stood at 0.99% as against 1.16% quarter-on-quarter (QoQ).
Provisions increased from ₹1,627.5 crore QOQ to ₹2,404 crore and YoY to ₹2,507 crore. Provision Coverage Ratio (PCR) as high as 92.34% with two and 78.85% without two. The bank further said that its slippage ratio declined to 1.05% for Q3FY23 as against 1.68% in Q3FY22.
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