Public sector Bank of Baroda has announced the financial results for the December quarter of the current financial year.
The bank said on Wednesday that its net profit in the third quarter of 2023-24 increased by 19 percent to Rs 4,579 crore. In the same quarter a year ago, the bank had earned a profit of Rs 3,852.7 crore.
Net interest income also increased
The net interest income of Bank of Baroda has also increased and it increased to Rs 28,605 crore on an annual basis in the October-December quarter. It was Rs 23,540 crore in the same quarter a year ago.
Bank of Baroda’s income increased
Bank of Baroda told the stock market that its total income during the last quarter increased to Rs 31,416 crore, which was Rs 27,092 crore in the same period a year ago.
By the end of December 2023, the bank’s gross NPA has come down to 3.08 percent of gross loans, which was 4.53 percent a year ago. Similarly, Net NPA has also declined from 0.99 percent to 0.70 percent on an annual basis.
However, the capital adequacy ratio of the bank declined from 14.93 percent at the end of December, 2022 to 14.72 percent at the end of December, 2023.
