BANK NEWS
Bank of Baroda Q2 results: 24% hike in Net profit
Net Interest Margin (NIM) increased to 2.85% in Q2FY22 from 2.78% in Q2FY21.
New Delhi: The fourth-largest nationalized, Bank of Baroda on Wednesday, November 10, 2021, reported a 24 percent hike in standalone net profit as Rs 2,088 crore in the September quarter.
The bank states the rise in Net interest income by 2% to Rs 7,566 crore as compared to Rs 7,508 crore in Q2FY21. Net Interest Margin (NIM) increased to 2.85% in Q2FY22 from 2.78% in Q2FY21. The Provision Coverage Ratio of the bank stood at 83.42%.
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