InvestorQ : How did you see the results of Bank of Baroda for the Jun-21 quarter?
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How did you see the results of Bank of Baroda for the Jun-21 quarter?

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Rashi Mehra answered.
4 months ago
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Bank of Baroda posted net profits of Rs.1,209 crore for the first quarter ended Jun 2021 as compared to reporting a net loss of Rs.-864 crore in Jun-20 quarter. For the current quarter, the Net interest income or NII increased by 16% yoy to Rs.7,892 crore. However, lower interest yields on loans, in the light of falling interest rates, meant that total income tapered by 1.43% to Rs.20,022 crore.

There was not much to worry on asset quality front, although Gross NPAs at 8.86% were still high in absolute terms. Net NPAs were marginally lower at 3.03%. Provisions and contingencies were sharply lower at Rs.4,112 crore, which resulted in this turnaround to profit in the Jun-21 quarter. Provision coverage ratio or PCR stood at 83.14%.

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