Bank of Baroda Reported 24.39 % Jump in Profit

State-run lender Bank of Baroda reported a rise of 24.39 per cent in its Q2FY22 net profit on a year-on-year basis.

Itse net profit rose to Rs 2,088 crore from Rs 1,679 crore reported for the corresponding period of previous fiscal.

Besides, net interest income (NII) increased to Rs 7,566 crore in Q2FY22 from Rs 7,410 crore in Q2FY21, registering a growth of 2.11 per cent YoY.

The bank's Gross NPA 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.