Bank Of Baroda Q1 Results FY 2023-24

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Bank of Baroda (BOB), one of India’s leading public sector banks, has delivered a stellar performance in the first quarter of the financial year 2023-24 (FY24).

The bank’s net profit surged 87.7% year-on-year (YoY) to Rs4,070 crore, driven by strong growth in its core businesses. Let’s take a look at the key highlights of BOB’s Q1 FY24 results.

What is the net profit of Bank of Baroda in Q1 FY24?

Bank of Baroda’s net profit for Q1 FY24 stood at Rs4,070 crore, a significant increase of 87.7% compared to Rs2,168 crore in the same quarter last year.

This impressive growth was attributed to healthy interest income growth of 24% YoY, robust non-interest income growth of 2.8 times, and improved asset quality.

How did Bank of Baroda’s total income perform in Q1 FY24?

Bank of Baroda’s total income for Q1 FY24 reached Rs29,878 crore, marking a substantial increase of 48.5% YoY from Rs20,119 crore in Q1 FY23.

This growth was primarily driven by strong growth in interest income and non-interest income.

What is the current gross NPA and net NPA ratio of Bank of Baroda?

Bank of Baroda’s gross NPA ratio as of June 30, 2023, stood at 3.24%, down from 3.55% in the same quarter last year. The net NPA ratio also improved to 0.95% from 1.06% in Q1 FY23.

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This improvement in asset quality reflects the bank’s efforts to recover stressed loans and improve its lending portfolio.

What is the capital adequacy ratio of Bank of Baroda?

Bank of Baroda’s capital adequacy ratio (CAR) as of June 30, 2023, stood at 14.73%, well above the regulatory requirement of 11.50%.

This strong capital position reflects the bank’s financial stability and its ability to withstand potential risks.

Bank of Baroda’s Q1 FY24 results demonstrate the bank’s strong performance and its continued growth momentum.

The bank’s healthy financials, improved asset quality, and strong capital position bode well for its future prospects.

BOB’s performance is a testament to its sound management practices and its commitment to delivering value to its stakeholders.

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