Bank of Baroda posts outperforming Q2FY17 numbers

Bank of Baroda has declared its Q2FY17 results on Friday after market hours. The company’s net interest income has decreased by 6.01 per cent to Rs 10485 crore in Q2FY17 as compared to same period in previous financial year. Its Net Interest Margin (NIM) for Domestic operations stands at 2.85 per cent while global margin at 2.29 per cent in Q2FY17. Bank of Baroda’s operating profit has risen by 15.1 per cent to Rs 2690 crore in Q2FY17 on a yearly basis. The company’s net profit has boosted more than four times to Rs 552 crore in Q2FY17 as compared to same period in previous financial year.

On the asset quality front, Bank of Baroda’s Gross NPA (GNPA) has remained stable at Rs 42949 crore in Q2FY17 as compared to Rs 42991 crore in Q1FY17. The Gross NPA stands at 11.35 per cent in Q2FY17 against 11.15 per cent in Q1FY17. Its Net NPA stands at 5.46 per cent in Q2FY17 while at 5.73 per cent in Q1FY17.

Bank of Baroda’s Provision Coverage Ratio (PCR) has improved to 62.95 per cent in Q2FY17 from 60.17 per cent in Q1FY17. The bank’s domestic CASA has grown on an average by 3.34 per cent in Q2FY17 on a quarterly basis.

The share price of Bank of Baroda declined by 2.49 per cent and closed at Rs 160.7 on an intraday basis.