Bank of Baroda(BoB) Q3 Net profit rises 6%, NII up 3%

A net profit of Rs 4,837 crore was announced by Bank of Baroda on Thursday for the third quarter that concluded on December 31, 2024. Compared to Rs 4,579 crore in the October-December quarter of the prior year, the consolidated profit increased by 5.6%. 

According to a regulatory statement by Bank of Baroda, the bank's overall revenue climbed from Rs 31,416 crore in the previous fiscal year to Rs 34,676 crore in the third quarter of the current one.

Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25

 According to Bank of Baroda, interest income increased to Rs 30,908 crore during the quarter from Rs 28,605 crore during the same period in the previous fiscal year. In the same quarter, the bank's Net Interest Income (NII) increased by 2.8% to Rs 11,417 crore from Rs 11,101 crore.

By the end of December 2023, the gross non-performing asset (NPA) had decreased to 2.43 percent from 3.08 percent. In a same vein, the net non-performing asset (NPA) decreased from 0.70 percent at the end of 2023 to 0.59 percent.

 However, compared to the same quarter of the previous fiscal year, when provisions and contingencies were Rs 666 crore, they increased to Rs 1,082 crore during the third quarter of FY25.