Today, the Bank of Baroda (BOB) reported a 79.3 per cent yearly rise in its consolidated net profit to Rs 2,168 crore in the first quarter as against a net profit of Rs 1,209 crore in the same period of last year.

The Net Interest Income (NII) raise by 12 per cent to Rs 8,838 crore in the first quarter. The Operating Income for the June quarter came at Rs 10,020 crore. Cost of deposits reduced to 3.46 per cent in the quarter as against 3.55 per cent in Q1FY22, as per the bank statement.

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The Operating Profit was high at Rs 4,528 crore. The Core Operating Profit grew by 11 per cent YoY to Rs 5,301 crore in Q1FY23. The Net NPA Ratio of the bank has improved to 1.58 per cent in Q1FY23 compared with 3.03 per cent in the first quarter of the financial year 2022. The Provision Coverage Ratio of the bank stood at 89.38 per cent, including TWO and 75.94 per cent excluding TWO in Q1FY23. Capital to Risk (Weighted) Assets Ratio (CRAR) of the bank has improved to 15.46 per cent in Jun ’22 from 15.40 per cent in Jun ’21. On Friday, Bank of Baroda Ltd’s share had closed 0.68 per cent lower at Rs 116.35.