Bank of Baroda Q2 Results: Records 58.7% growth at Rs 3,313 crore

The company's net Interest Income grew by 34.5% YoY and 15.1% QoQ to Rs 10,714 crore in Q2FY23.

Bank of Baroda Q2 Results: Records 58.7% growth at Rs 3,313 crore

New Delhi: Bank of Baroda (BOB) on Saturday, November 5 declared the second quarter profit for the current fiscal year. The bank has recorded a Net profit of Rs 3,313 crore, a 58.7% growth for Q2 Financial Year 22-23 YoY as against a profit of Rs 2,088 crore in Q2FY22.

Net profit in H1 FY23 stood at Rs 5,482 crore registering a strong YoY growth of 66.3%. The company's net Interest Income grew by 34.5% YoY and 15.1% QoQ to Rs 10,714 crore in Q2FY23. It registered a growth of 23% YoY for H1FY23 and stands at INR 19,013 crore.

Asset Quality

  • The Gross NPA of the Bank reduced by 12% QoQ to INR 46,374 crore in Q2FY23 and Gross NPA Ratio improved to 5.31% in Q2FY23 from 6.26% in Q1FY23.
  • The Net NPA Ratio of the Bank improved to 1.16% in Q2FY23 as compared with 1.58% in Q1FY23.
  • The Provision Coverage Ratio of the Bank stood at 91.73% including TWO and 79.14% excluding TWO in Q2FY23.
  • The slippage ratio declined to 1.53% for H1FY23 as against 2.45% in H1FY22.
  • Credit cost for the Q2FY23 stands at 0.79%.

Capital Adequacy

  • CRAR of the Bank stands at 15.25% in Sep’22 from 15.55% in Sep’21. Tier-I stood at 12.81% (CET-1 at 10.95%, AT1 at 1.86%) and Tier-II stood at 2.44% as of Sep’22.
  • The CRAR and CET-1 of the consolidated entity stand at 15.77% and 11.60% respectively