Last Updated: July 30, 2022, 3:58 PM IST
Bank of Baroda reported its Q1 FY23 results on Saturday. Check here. (Image: Shutterstock)
Net Interest Income (NII) grew by 12 per cent to Rs 8,838 crore in Q1 FY23, the Bank of Baroda said in a regulatory filing on Saturday, July 30.
Bank of Baroda Q1 FY23 Results: Public sector lender Bank of Baroda reported a whooping 79.3 per cent year-on-year jump in net profit to Rs 2,168 crore for the quarter ended June 30. Net Interest Income (NII) grew by 12 per cent to Rs 8,838 crore in Q1 FY23, the bank said in a regulatory filing on Saturday, July 30.
Bank of Baroda’s fee based income grew by 15.6 per cent year-on-year to Rs 1,277 crore in June quarter FY23, compared to the Rs 1,105 crore in June quarter FY22. The operating income stands at Rs 10,020 crore for the quarter under review, down by 6.8 per cent from Rs 10,755 crore during the year-ago quarter. Bank of Baroda reported an operating profit of Rs 4,528 crore for the quarter under review, down by 19.2 per cent from Rs 5,601 crore during the same quarter last year.
The cost of deposits for the April-to-June quarter reduced to 3.46 per cent year-on-year as against 3.55 per cent during the same quarter last year. Core operating profit (ex-Treasury gains/ losses and Interest on IT refund) grew by 11 per cent YoY to Rs 5,301 crore in the quarter under review, Bank of Baroda said in the exchange filing on Saturday.
On the other hand, Return on Assets (RoA) improved to 0.68 per cent in the quarter ended June 30, 2022, as against 0.42 per cent in the quarter ended June 30 last year. Meanwhile, Bank of Baroda’s Return on Equity (RoE) increased by 500 bps YoY to 13.63 per cent.
Read all the Latest News and Breaking News here