State-owned Bank of Baroda (BoB) announced a 23% increase in net profit, reaching ₹5,238 crore for the September quarter. This compares to a net profit of ₹4,253 crore recorded in the same period last year.
Total income for the quarter rose to ₹35,445 crore, up from ₹32,033 crore a year earlier, as reported in a regulatory filing. The bank’s interest income also saw growth, climbing to ₹30,263 crore for the July-September period, compared to ₹27,862 crore in FY24.
The bank’s asset quality improved, with gross non-performing assets (NPAs) decreasing to 2.50% of gross advances, down from 3.32% a year ago. Similarly, net NPAs fell to 0.60%, down from 0.76% in the same quarter last year.
Additionally, the Capital Adequacy Ratio increased to 16.26%, compared to 15.30% at the end of September 2023.
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