- The Gross NPA of the Bank reduced by 25.3 percent YoY to Rs 41,858 crore in Q3FY23
- Net profit in (9MFY23) stood at Rs 9,334 crore, registering a strong YoY growth of 69.9 percent
NE BUSINESS BUREAU
AHMEDABAD, FEB 5
State-owned Bank of Baroda, on Friday, reported its highest-ever quarterly net profit of Rs 3,853 crore for the October-December quarter (Q3) of financial year 2023 (FY23), registering a staggering growth of 75.4 percent year-on-year (YoY).
Net profit in (9MFY23) stood at Rs 9,334 crore, registering a strong YoY growth of 69.9 percent.
BoB said its bottomline got a boost from healthy growth in net interest income (NII), which surged 26.5 percent YoY to Rs 10,818 crore in Q3FY23. Global NIM stands at 3.37 percent in Q3FY23, increase of 24 bps YoY.
According to the lender’s financial statement, its aggregate advances increased to Rs 9,23,878 crore, up nearly 20 percent YoY. Of this, domestic advances increased to Rs 7,60,249 crore, up 16.2 percent YoY. International advances grew to Rs 1,63,629 crore.
Total deposits, on the other hand, jumped 17.5 percent YoY to Rs 11,49,507 crore. Domestic deposits increased by 14.5 percent YoY to Rs 10,03,737 crore, and international deposits grew by 43.6 percent on a YoY basis to Rs 1,45,770 crore.
Domestic CASA registered a growth of 7.6 percent YoY and stands at Rs 4,17,812 crore with Domestic Savings accounts deposits registering a growth of 9.2 percent on a YoY basis at the end of the December quarter.
The Gross NPA of the Bank reduced by 25.3 percent YoY to Rs 41,858 crore in Q3FY23, with gross NPA ratio improving to 4.53 per cent in Q3FY23 from 7.25 per cent in Q3FY22. The Net NPA ratio, too, improved to 0.99 per cent as compared with 2.25 per cent in Q3FY22.
The Provision Coverage Ratio of the Bank stood at 92.34 per cent. Slippage ratio declined to 1.05 per cent for Q3FY23 as against 1.68 per cent in Q3FY22. Slippage ratio. Credit cost for the Q3FY23 stands at 0.37 per cent.
