BoB records net profit of Rs 4,775 cr in Q4FY23

New Delhi: State-owned Bank of Baroda said in a regulatory filing on Tuesday said that its standalone net profit stood at Rs 4,775 crore in Q4FY23 as against a profit of Rs 1,779 crore in Q4FY22. It grew by 94 percent on a y-o-y basis and stood at Rs 14,110 crore for FY23. The filing also noted that its Net Interest Income (NII) grew by 33.8 percent on a y-o-y basis to Rs 11,525 crore in Q4FY23. NII registered a growth of 26.8 percent on a y-o-y basis for FY23 and stood at Rs 41,355 crore.

The bank's Yield on Advances increased to 8.47 percent in Q4FY23 as against 6.81 percent in Q4FY22 while the cost of deposits stood at 4.43 percent in Q4FY23 as against 3.53 percent in Q4FY22. Its operating income for Q4FY23 stands at Rs 14,991 crore, an increase of 34.6 percent on a y-o-y basis. It registered a growth of 16.5 percent on a y-o-y basis for FY23 and stood at Rs 51,381 crore. Its Operating Profit for Q4FY23 stood at Rs 8,073 crore, registering an increase of 43.3 percent on a y-o-y basis. Its operating profit for FY23 stands at Rs 26,864 crore up by 20 percent on a y-o-y basis.

The Gross NPA of the Bank reduced by 32 percent on a y-o-y basis to Rs 36,764 crore in Q4FY23 and Gross NPA Ratio improved to 3.79 percent in Q4FY23 from 6.61 percent in Q4FY22. The Net NPA Ratio of the Bank stood at a record low of 0.89 percent in Q4FY23 as compared with 1.72 percent in Q4FY22. The CRAR of the Bank stood at 16.24 percent in FY23.

Bank of Baroda recommended a dividend of Rs 5.5 per equity share

"Bank of Baroda recommended a dividend of Rs 5.50 (Rupees Five and Fifty Paise only) per equity share for the FY2022-23 subject to declaration/approval at the ensuing 27th Annual General Meeting," the filing noted.

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