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.
image for illustrative purpose
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.
