Bank of Baroda records over 24% growth in Q2FY22 net profit

Bank of Baroda on Wednesday reported a 24.39 per cent rise in their net profit for quarter 2 of the financial year 2021-22 on a year-on-year (YoY) basis.

The state-run lender's net profits increased to Rs 2,088 crore from Rs 1,679 crore which was recorded in the previous fiscal year for the same quarter.

Their net interest income (NII) also registered a growth of 2.11 per cent on a YoY basis and increased to Rs 7,566 crore in Q2FY22 from Rs 7,410 crore in Q2FY21

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The bank's Gross NPA was reduced to Rs 59,504 crore in Q2FY22 from the level of Rs 65,698 crore in Q2FY21.

The Gross NPA ratio improved to 8.11 per cent in Q2FY22 from 9.14 per cent in Q2FY21.

The Net NPA ratio of the bank stood at 2.83 per cent in Q2FY22 as compared to 2.51 per cent in Q2FY21.

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