Bank of Baroda’s gross non-performing assets fall to 2.50 per cent of gross advances at the end of the September quarter of 2024 as against 3.32 per cent a year ago.
State-owned Bank of Baroda (BoB) on Friday reported a 23 per cent jump in its net profit to Rs 5,238 crore for the September 2024 quarter. Its interest income during July-September 2024 increased 8.61 per cent to Rs 30,263 crore from Rs 27,862 crore in the year-ago period.
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Bank of Baroda’s net profit had stood at Rs 4,253 crore in the second quarter of the previous fiscal, according to a regulatory filing.
Its total income rose to Rs 35,445 crore in the quarter under review from Rs 32,033 crore in the same period a year ago.
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Asset quality of the bank witnessed improvement with gross non-performing assets (NPAs) falling to 2.50 per cent of gross advances at the end of the September quarter of 2024 as against 3.32 per cent a year ago.
Net NPAs or bad loans also declined to 0.60 per cent from 0.76 per cent in the year-ago period. Its Capital Adequacy Ratio rose to 16.26 per cent over 15.30 per cent at the end of September 2023.
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Shares of Bank of Baroda on Friday declined by 2.26 per cent to Rs 239.50 apiece on the BSE.
