BoB posts Q4 net profit of `1,779 crore

New Delhi: State-owned Bank of Baroda on Friday reported a net profit of Rs 1,779 crore in the quarter ended March 2022.

The bank had posted a net loss of Rs 1,047 crore in the same quarter of FY 2020-21.

The total income during January-March period of 2021-22, was down at Rs 20,695.90 crore, as against Rs 21,501.94 crore in the same period of 2020-21, Bank of Baroda (BoB) said in a regulatory filing.

For the full financial year 2021-22, the bank reported a net profit of Rs 7,272.28 crore, a multi-fold jump from Rs 828.95 crore in 2020-21. Total income during the year, however, fell to Rs 81,364.73 crore from Rs 83,429 crore a year ago.

Net interest margin (NIM) for Q4FY22 was 3.08 per cent, an increase of 36 bps compared to Q4FY21, it added.

On the asset quality, the lender witnessed an improvement with the gross non-performing assets (NPAs or bad loans) falling to 6.61 per cent of the gross advances by end of March 2022, from 8.87 per cent by end of March 2021.

In value terms, the gross NPAs were at Rs 54,059 crore, down from Rs 66,671 crore.

The net NPAs too declined to 1.72 per cent (Rs 13,365 crore), as against 3.09 per cent (Rs 21,780 crore).