Bank of Baroda reported a net profit of Rs. 507 crore in Q4

State-owned lender Bank of Baroda announced a total profit of Rs 506.6 crore in its fourth-quarter that ended on March 31, against a loss of Rs 991.4 crore during the same quarter last year.

The bank said its net interest income (NII) during Q4 of FY20 increased by 5 per cent on a year-on-year (YoY) basis to Rs 6,798 crore as compared to Rs 6,473 crore in Q4FY19.

The core income the bank earned by providing loans, stood at Rs 27,451 crore as against Rs 25,678 crore during the last fiscal.

The bank’s non-interest income in FY20 increased to Rs 10,317 crore from Rs 8,794 crore during the same period last year. However, the non-interest income for Q4 FY20 fell marginally by 1.08 per cent to Rs 2,834 crore as against Rs 2,865 crore in Q4 FY19.

Bank of Baroda

The Bank’s Global net interest margin (NIM) during Q4 FY20 increased from 2.62 per cent from 2.67 per cent. The domestic net interest margin (NIM) increased from 2.68 per cent to 2.78 per cent as against in the year-ago period,  Bank of Baroda said in a filing to the BSE.

The operating profit of the bank during Q4 FY20 increased to Rs 5,121 crore as compared to Rs 3,462 crore during the same period of the last financial year, jumping to a growth of 47.9 per cent and for FY20 the operating profit of the bank stood at Rs 19,691 crore with an increase of 19 per cent.

Bank’s gross non-performing assets (GNPA) stood at Rs 69,381 crore as against Rs 73,140 crore on December 31, 2019. Gross NPA in terms of percentage fell to 9.40 per cent as compared to 10.43 per cent in Q3 FY20, while net NPA fell to 3.13 per cent from 4.05 per cent as on December 31, 2019.

 

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