Bank of Baroda Q4: Asset Quality Improves QoQ & YoY, NIM Rises; More Details

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Bank of Baroda Q4: Asset Quality Improves QoQ & YoY, NIM Rises; More Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The public sector lender Bank of Baroda (NS: BOB ) released its earnings report for the March ending quarter on Friday, witnessing a rise in its net interest margin (NIM) on a YoY basis. 

The lender witnessed a standalone net profit of Rs 1,779 crore in the quarter ending March 2022, compared to a net loss of Rs 1,047 crore in the year-ago period.

For the quarter, the lender’s total income lowered marginally by 4% to Rs 20,695.90 crore. 

However, for the full fiscal FY22, Bank of Baroda’s net profit rallied a whopping 777.3% YoY to Rs 7,272.28 crore, while total income slipped 2.47% YoY to Rs 81,364.73 crore.

On the asset quality front, the lender’s gross NPA has improved to 6.61% in Q4 FY22 from 7.25% in the Dec quarter and 8.97% in the year-ago period. Similarly, its net NPA has also improved to 1.72%, compared to 2.25% sequentially and 3.09% YoY.

In value terms, the GNPA stands at Rs 54,059 crore, down from Rs 55,996.77 crore in the Dec quarter and at Rs 66,670.99 crore in Q4 FY21.

The bank’s domestic CASA ratio has improved by 137 basis points on a YoY basis to 44.24%, while NIM has improved by 32 bps to 3.03% in the financial year.

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