Bank of Baroda

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BANKING

BOB Q2 Net Profit Up By 12%




Bank of Baroda ( BOB), a leading public sector bank in India, announced financial results for the second-quarter, reporting an increase in its net profit on higher net interest and non-interest income


Bank of Baroda posted a second-quarter net profit of Rs.1,301.39 crore compared with the Rs.1,166.08 crore in the second-quarter of 2012. Net profit  grew by 12 percent .
For the quarter, the bank's net interest income increased by 12 percent to Rs.2,862.30 crore from the Rs.2,566.91 crore for the same period last year. Non-interest income for the quarter rose by 13 percent to Rs.828.31 crore from the Rs.734.34 crore in the year-ago quarter.
Total income for the quarter increased by 20 percent to Rs.9,550.86 crore from the Rs.7,985.78 crore during the Q2 of 2012.
Geographic Segment income
During the quarter, income from "domestic business" rose by 17 percent to Rs.8,243.18 crore from the Rs.7,037.04 crore for the quarter ended September 30 of 2011, while income from "international business" was Rs.1,307.68 crore, up by 38 percent from the Rs.948.74 crore in the year-ago quarter.
For the quarter, operating profit before provisions and contingencies stood at Rs.2,382.58 crore, compared with Rs.2,139.97 crore in the preceding-year quarter, an increase of 11 percent.
For the first six months, BOB reported a net profit of Rs.2,440.25 crore, up by ten percent from the Rs.2,198.93 crore for the half-year ended September 30 of 2011. Net interest income for the six months rose by 16 percent to Rs.5,660.37 crore from the Rs.4,864.10 crore for the six months ended September last year, while non-interest income increased by 16 percent to Rs.1,599.11 crore from the Rs.1,375.21 crore for the Apr.-Sept. 2011 period.

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