Bank of Baroda Q1 net profit increases 79.3% to Rs 2,168 crore; NII up 12%

Posts 12% YoY growth in net interest income; Bad loan Provisions down on improved asset quality

Bank of Baroda (BoB) on Saturday reported a 79.3 per cent year on year (YoY) growth in its net profit at Rs 2,168 crore in the quarter ended June (Q1FY23) on the back of dip in provisions for bad loans.

The Mumbai-based public sector lender had posted a net profit of Rs 1,209 crore during the same period last year (Q1FY22). 

The bank’s stock had closed 0.81 per cent lower at Rs 116.25 per share on BSE on Friday.

Its net interest income (NII) was up 12 per cent in Q1FY23 to Rs 8,838 crore from Rs 7,982 crore in Q1FY22. Its net