Bank of Baroda Reports Solid Profit Growth Amid Asset Quality Improvements

State-owned Bank of Baroda announced a 3% increase in its net profit to Rs 5,048 crore for the March quarter of FY25, marking an improvement from Rs 4,886 crore in the corresponding period last year.

The bank reported a rise in total income to Rs 35,852 crore, owing to a robust performance compared to Rs 33,775 crore previously. However, a decline in net interest income was noted, dropping to Rs 11,020 crore. Despite this, the bank's asset quality showed positive signs with Gross Non-Performing Assets (NPAs) reducing to 2.26% of total advances.

Enhancing its financial resilience, the bank's net NPAs declined to 0.58%, while its capital adequacy ratio improved to 17.19%. For the financial year 2024-25, Bank of Baroda's profit jumped 10% to Rs 19,581 crore, alongside a total income rise to Rs 1,38,089 crore. The board has proposed a dividend of Rs 8.35 per share for the year.

(With inputs from agencies.)