Banks
India’s Bank of Baroda Q2 Net Profit Up by 28.4%
India’s Bank of Baroda (BOB.NS) reported a 28.4% increase in net profit for the July-September quarter, owing to strong loan growth.
The net profit of the state-run lender increased to 42.53 billion rupees ($511.55 million) in the second quarter, up from 33.13 billion rupees the previous year.
According to LSEG data, this was higher than analysts’ forecast of 40.04 billion rupees.
Net interest income – the difference between interest earned and paid by a bank – increased 6.5% to 108.31 billion rupees.
$1 equals 83.1400 Indian rupees.
