State-owned Baroda Bank reported a net profit of Rs 1,779 crore in the quarter ended March 2022 on Friday.
The bank had recorded a net loss of Rs 1,047 crore in the same quarter of the 2020-21 financial year.
Total income during the January-March period of 2021-22 declined to Rs 20,695.90 crore from Rs 21,501.94 crore during the same period of 2020-21, Bank of Baroda said ( BoB) in a regulatory file.
For the full financial year 2021-22, the bank reported a net profit of Rs 7,272.28 crore, a multiple leap from Rs 828.95 crore in 2020-21.
Total revenue 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%, an increase of 36 basis points from Q4FY21, he added.
In terms of asset quality, the lender saw an improvement, with gross non-performing assets (NPA or bad debts) falling to 6.61% of gross advances at the end of March 2022, from 8.87% at the end of March 2022. March 2021.
In terms of value, the gross NPA was Rs 54,059 crore, down from Rs 66,671 crore.
Net NPAs also declined to 1.72% (Rs 13,365 crore), from 3.09% (Rs 21,780 crore).
The BoB said its board has also approved the raising of additional capital up to Rs 2,500 crore through additional Tier I or Tier II debt capital instruments with option of interchangeability, issued in India/abroad in appropriate tranches till 31 March 2023.
This will be subject to applicable regulatory/statutory approvals, the bank said.
The bank’s board has recommended a dividend of Rs 1.20 per share for 2021-22 subject to declaration/approval at the subsequent annual general meeting, the bank said.
The Bank’s organic retail advances grew 17%, driven by growth in priority areas such as home loans (11.3%), personal loans (108%), auto loans (19.5% ), student loans (16.7%) , It said.
The bank’s domestic Current Account Savings Account (CASA) ratio improved 137 basis points year-on-year to 44.24%.
Among other metrics, net interest margin improved by 32 basis points (basis points) to 3.03% in FY22.
Shares of BoB closed at Rs 94.95 each on BSE, down 1.15% from the previous close.
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