baroda bank On Saturday, the company posted net profit for the September quarter of Rs 331.3 billion, up 59% year-on-year. This was driven by improved asset quality and margin expansion. While it’s been shown throughout the year, especially in terms of asset quality and credit costs, he acknowledges that his high double-digit loan growth of 21% in the reporting quarter will certainly slow down going forward. increase.
The city-based bank’s total revenue increased to SEK 23,080 in the reporting quarter from SEK 20,271 a year ago. A key profitability indicator, net interest income, earned by the bank after paying interest on its funds, surged 34.5% to 10,714 kroner, with margin (net interest margin in banking terms) at 3.33%. It was supported by the 48bps expansion. The lender improved the quality of its assets and its Total Non-Performing Assets (NPA) decreased to 5.31% of his total at Rs 46,374 crore in the reporting period, down from 8.11% in the previous year.
Similarly, net NPA halved to 1.16 per cent at 9,672 kroner from 2.83 per cent or 19,000 kroner a year ago. The bank’s managing director and chief executive officer, Sanjiv Chadha, said he believes the strong set of numbers is in good overall performance, with second-quarter figures largely pointing to his four It says there are pillars. 19% at the front. Second, the margin improved to a record high, rising to 3.33%. Third, the bank was able to tightly control overall costs (payroll costs rose slightly), in contrast to the usual process of rising costs as sales increased. 4%); Finally, when interest rates rise, credit costs usually go up, but bank credit costs go down, Chadha said in response to his PTI question on an earnings call. said.
On advances growth of 19%, he said the bank’s focus area, home loans, expanded at 19%, with personal loans at 172.8% and auto loans, which surged 28.4% in pre-retail. Lent said it led. Education loans recorded a growth of 23.2%, with total deposits at Rs.873,496 crore, domestic loans increased by 15% to Rs. Gold remains at 41.7%. Cents were Rs 1,091,720 crore, of which domestic deposits increased by 10.9% to Rs 958,967 crore and international deposits increased by 38.3% to Rs 131,205 crore. , the gold loan portfolio (including retail and agricultural) increased by 27.8% to Rs 33,502. MSME’s portfolio increased by 13.4% to his Rs 101,278 crore. His CASA across the country he grew 9.2%. Of total revenue, fee-based income increased by 12.3% to he Rs 1,515 crore and operating profit increased by 7.7% to Rs 12,000 crore. The yield on the upfront payment increased. Deposit costs increased slightly from his 3.52% to 3.59%, bringing him to 7.22% compared to 6.55% a year ago. Of his Rs 1.3 billion profit in the same period last year, Mr Chadha said.
Profits were driven by recoveries and write-backs of Rs 5,360 crore against a net slip of Rs 4,465 crore.Chadha said banks were more satisfied with other recoveries, so transfers to the National Bad Bank or NARCL On the sustainability of credit growth as a whole, he said it would be moderate at the industry level, but added that banks would perform better than the industry average. He said the book was mainly driven by roads and green energy (particularly solar).The capital ratio fell to 15.25% from 15.55% at the end of September 2021, with a corresponding provision coverage ratio of 79.14. improved to 100%, he said. On a consolidated basis, net profit he increased to Rs 340 billion from Rs 2,168 kroner.