Bank of Baroda Ltd.(NSE: BANKBARODA)|Q3 FY23 Results Out|Total Income rises 37% yoy

Bank of Baroda (NSE: BANKBARODA) is a public sector bank based in India. It was established in 1908 and is headquartered in Vadodara, Gujarat. The bank offers a range of financial products and services, including savings accounts, current accounts, personal loans, home loans, credit cards, and wealth management services. Bank of Baroda also has a strong international presence, with operations in more than 25 countries. The bank is committed to providing high-quality customer service and is known for its customer-centric approach. In recent years, Bank of Baroda has undergone significant digital transformation to better serve its customers and compete in the digital banking landscape.

Bank of Baroda (BOB) achieved a total business of Rs 20,73,385 crore as of Q3FY23, with a YoY growth of 18.5%. The bank declared its highest-ever quarterly net profit of Rs 3,853 crore for Q3FY23, a YoY increase of 75.4%. Its net profit in 9MFY23 stood at Rs 9,334 crore, registering a strong YoY growth of 69.9%. The net interest income grew by 26.5% for Q3FY23 and 24.2% for 9MFY23. Operating profit grew by 50.1% YoY in Q3FY23 to Rs 8,232 crore. The credit cost was at a record low of 0.37% for Q3FY23 and 0.66% for 9MFY23. The global advances recorded a strong YoY growth of 19.7% in Q3FY23.