Public Relations

Bank of Baroda profit jumps 60% to Rs 634 cr

Public sector lender Bank of Baroda (BoB) today reported a jump of 60 per cent in net profit to Rs 634.18 crore for the second quarter ended September over the corresponding period a year earlier. - Andhra Bank profit jumps 70% to Rs 274 cr - FII-TO-FII TRADES: PNB traded at 8% premium - Hike in SLR not to have significant impact, say top bankers - Govt appoints K R Kamath as CMD of PNB - Kotak Mahindra net surges 86% to Rs 299 cr - McCann as CEO of UBS Wealth Management Americas The bank had a net profit of Rs 395.29 crore during the September quarter last financial year. Total income of the bank rose to Rs 4,730.75 crore in the latest quarter of the current fiscal from Rs 4,026.90 crore of the corresponding period a year ago, Bank of Baroda said in a filing to the Bombay Stock Exchange (BSE). For the half-year ended September 30, 2009, Bank of Baroda registered a net profit of Rs 1,319.56 crore, up 72 per cent compared to Rs 766.14 crore of the same period last fiscal. Shares of Bank of Baroda were trading at Rs 506.70, up 4.10 per cent in afternoon trade on the BSE. Net interest margin (NIM), the spread between interest earned and interest expended, stood at 2.89 per cent in Q2 FY10. The bank expects to maintain NIM at same level during the fiscal, Mallya said. The bank"s gross and net NPAs, during the quarter, declined to 1.30 per cent and 0.27 per cent from 1.62 per cent and 0.43 per cent in the corresponding period in last year. The lender has targeted to contain the delinquencies below 1.25 per cent for the full fiscal, Mallya said, adding the bank"s loan loss coverage ratio is at 79.29 per cent, much above the RBI stiuplation of 70 per cent. The bank is adequately capitalised with a capital adequacy ratio of 14.67 per cent. Its branch netwrok, currently 3,029, is expected to go up and the bank has 74 applications pending with the RBI in the current fiscal, Mallya said. Total income during the period under review rose to Rs 4,730.75 crore from Rs 4,026.90 crore of the corresponding period a year ago. For the half-year ended September 30, 2009, Bank of Baroda registered a net profit of Rs 1,319.56 crore, up 72 per cent from Rs 766.14 crore of the same period last fiscal.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
WEEKLY UPDATE: Markets make a strong statement on positive cues
The markets were propelled this week by good economic data, the central government"s reforms agenda and strong global markets. The Sensex ended higher by 690.55 points or 4.27% at 16,848.83 and the Nifty closed at 4,998.95, up 202.80 points or 4.23%.
Popular Articles
fast payday loans

Bank of India Q3 net dips 53% to Rs 405 cr
Public sector lender Bank of India (BoI) today said its net profit declined by 53.50 per cent to Rs 405.50 crore for the third quarter ended December 31, over the same period corresponding fiscal.

Power situation improves in state
With power situation improving following good rains, Karnataka minister for energy K S Eshwarappa today said urban areas would get 22 hours of supply a day from August one, while load-shedding in rural ones would be to the extent of 14 hours. In Bangalore, the Bangalore Electricity Supply company (Bescom) has said it would make all efforts to provide 24-hour power supply, he told reporters here. Rural areas would get power supply for five hours in case of single-phase and five hours for irrigation purpose (IP sets) which means they would face load-shedding for 14 hours.

© Copyright 2009