Bank of Baroda advances on reporting turnaround Q4 PAT of Rs 1779 cr

16 May 2022 , 10:59 AM

Total income declined 3.7% to Rs 20,695.90 crore in Q4 FY22 from Rs 21501.94 crore in Q4 FY21. The banks profit before tax (PBT) fell 29.1% year on year to Rs 1,898.76 crore in the quarter ended 31 March 2022. Net Interest Income (NII) increased to Rs 8,612 crore in Q4FY22 as against Rs 7,107 crore in Q4FY21, registering a growth 21% YoY. Global NIM increased to 3.03% as on 31 March 2022 from 2.71% as of 31 March 2021. The banks provisions and contingencies jumped 5.1% to Rs 3,736 crore in Q4 FY22 as compared with Q4 FY21. The provision coverage ratio (incl. technical write-offs) was at 88.71% as on 31 March 2022 as against 81.80% as on 31 March 2021. The banks gross non-performing assets (NPAs) stood at Rs 54,059 crore as on 31 March 2022 as against Rs 66,671 crore as on 31 March 2021 and Rs 55,997 crore as on 31 December 2021. The ratio of gross NPAs to gross advances stood at 6.61% as on 31 March 2022 as against 8.87% as on 31 March 2021 and 7.25% as on 31 December 2021. The ratio of net NPAs to net advances stood at 1.72% as on 31 March 2022 as against 3.09% as on 31 March 2021 and 2.25% as on 31 December 2021. The banks standalone net profit zoomed to Rs 7,272 crore in FY22 from Rs 829 crore in FY21. Total income declined 2.5% to Rs 81,364.73 crore in FY22 over FY21. Domestic deposits grew 8% to Rs 8,58,413 crore while domestic advances rose 6.7% to Rs 6,41,076 crore as on 31 March 2022 as compared with 31 March 2021 Cost of deposits reduced to 3.53% in Q4 FY22 as against 3.71% in Q4 FY21. The board recommended a dividend of Rs 1.2 per equity share for the financial year ended 31 March 2022. Bank of Baroda is one of Indias largest banks with a strong domestic presence spanning 8,168 branches and 11,487 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 94 overseas offices spanning 17 countries. Powered by Capital Market – Live News