Bank of Baroda back in black in Q1; net profit up at Rs 1,209 cr, NII rises 16%

Bank of Baroda on Saturday posted a standalone net profit of Rs 1,208 crore for the quarter ended June 30, 2021, it said in a regulatory filing.     The state-owned lender had reported a net loss of Rs 864 crore in the year-ago period (Q1FY21), and Rs 1,046 crore (Q4FY21) in the previous quarter.     The bank's net interest income (NII) - the difference between interest earned and interest expended - rose 15.7% to Rs 7,892 crore in Q1FY22 as against Rs 6,816 crore in the year-ago period. 

Also Read: Bank of Baroda FY21 net profit rises 52% to Rs 829 crore   The lender's gross non-performing assets (NPAs) improved marginally in the June quarter at 8.86% compared to 8.87% quarter-on-quarter (Q-o-Q).     The quarterly net NPA stood at 3.03% as against 3.09% in Q4FY21. Provisions (other than tax) and contingencies for the said quarter stood at Rs 4,111 crore, a fall of 23% from Rs 5,349 crore in the year-ago period.    The bank's shares rose 1.03% higher on Friday to close at Rs 83.35 apiece on BSE. 

Also Read: Bank of Baroda to offer flexible working model to employees