Lucknow: Bank of Baroda has reported a net profit of Rs 3, 853 crore in the third quarter of the financial year 2022-23, which is the highest ever for any quarter. Net profit in the third quarter has increased by 75.4 percent on a year-on-year basis.
Bank of Baroda on Friday declared its financial results for the third quarter ended December 31, 2022. Announcing the results, Managing Director and CEO Sanjeev Chadha said that Bank of Baroda has achieved a total business of Rs 20,73,385 crore as on December 31, 2022, with a growth of 18.5 percent on a year-on-year basis. Net profit for the nine months of the current financial year stood at Rs 9,334 crore, a growth of 69.9 per cent on a year-on-year basis. The bank’s net interest income grew by 26.5 per cent in the third quarter, while it grew by 24.2 per cent in the nine months.
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Bank of Baroda’s operating profit for the third quarter stood at Rs 8,232 crore, up 50.1 per cent year-on-year. Global advances grew by 19.7 per cent on a year-on-year basis during this period. The gross NPA stood at 4.53 per cent, while the net NPA stood at 0.99 per cent in the third quarter. Organic retail advances registered a growth of 29.4 per cent, in which auto loans grew by 27.5 per cent, home loans by 19.6 per cent, personal loans by 169.6 per cent and education loans by 24.1 per cent. Sanjeev Chadha said that on the basis of total business, Bank of Baroda has now become the second largest public sector bank in India.