Q3FY23 results: BoB registers growth of 18.5% on y-o-y basis

New Delhi: Bank of Baroda (BoB) declared its financial results on Friday, said a regulatory filing. As per the filing, BoB achieved a total business of Rs 20,73,385 crore as on
December 31, registering a growth of 18.5 percent on y-o-y basis. The bank also declared "highest ever quarterly net profit of Rs 3,853 crore for Q3FY23 which has increased by 75.4 percent on y-o-y basis. Its Global Advances registered a strong growth of 19.7 percent in Q3FY23 on y-o-y basis," it added.

"Net profit of BoB for the nine-month period in FY23 is Rs 9,334 crore registering a strong yearly growth of 69.9 percent," said the filing. "Net Interest Income (NII) grew by 26.5 percent and 24.2 percent for Q3FY23 and 9MFY23 respectively," the bank said.

"The bank's operating profit grew by 50.1 percent on y-o-y basis in Q3FY23 to Rs 8,232 crore. Credit cost at a record low of 0.37 percent for Q3FY23 and 0.66 percent for the period of nine months in FY23," it added.

GNPA stood at 4.53 percent, registering a reduction of 272 bps on y-o-y basis and 78 bps on q-o-q basis, said the bank. "Its NNPA stood at 0.99 percent, registering a reduction of 126 bps on y-o-y basis and 17 bps on q-o-q basis. Its Provision coverage ratio (PCR) stood at a high of 92.34 percent," said the bank in a filing.

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"Net Interest Margins (NIM) stood at 3.37 percent in Q3FY23 and 3.23 percent for 9MFY23, increase of 24 bps on y-o-y basis for the quarter and 22 bps for the nine-months period in FY23. Domestic NIM increased by 33 bps on y-o-y basis to reach 3.54 percent for Q3FY23 while, it stood at 3.35 percent for 9MFY23, up by 27 bps on y-o-y basis," said the bank in a filing.

"Return on Assets (RoA) for 9MFY23 improved by 31 bps on y-o-y basis to 0.93 percent while its RoA for Q3FY23 improved by 39 bps on y-o-y basis to 1.13 percent. Return on Equity (RoE) for 9MFY23 increased by 504 bps on y-o-y basis to 17.02 percent while, RoE for Q3FY23 increased by 671 bps on y-o-y basis to 21.08 percent. LCR (consolidated) stands at 143.78 percent in December 2022," the bank said.

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