MUMBAI, Oct 22: Public sector lender, Bank of Baroda has reported 11.6 per cent rise in net profit at Rs 1,301.39 crore for the second quarter ended September 30,2012 against Rs 1166.08 crore for the quarter ended September 30, 2011.
Talking to reporters here today, M D Mallya, Chairman and MD of
the bank said the total income has advanced to Rs 9,550.86 crore in the July-September quarter from Rs 7,985.78 crore in the same period a year-ago.
Gross Non Performing Asset (NPA) rose to 1.98 per cent of loan assets as on September 30, 2012 as compared to 1.41 per cent at the end of second quarter of the previous fiscal.
Growth in the bank’s profit was supported by a balanced growth in Net interest income, Non interest income and continued control over operating expenses, Mr Mallya said.
During the first half of 2012-13, the state-owned bank clocked 9 per cent rise in net profit to Rs 2,440.25 crore compared to Rs 2,198.93 crore in the same period a year ago.
The bank reported a total income of Rs 18,879.27 crore in the first six months, compared to Rs 15,258.42 crore in the previous financial year.
Net sales grew to Rs 13,200 crore during the September quarter,
moving up by 17 per cent against net sales of Rs 11,245 crore in the same period a year ago.
The bank’s interest income grew at 20.3 pc to Rs 8722.55 crore in second quarter and within this, Interest earned on advances was up by 17.7 pc to Rs 6438.72 crore.
Currently, the bank is present in 24 countries through 96 offices. During the financial year so far, the bank has opened branches in Wellington and New Zealand and Rose Belle in Mauritius, (UNI)
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