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BOB Q4 Stand-Alone Profit Up By 17%


Bank of Baroda, or BOB, a leading public-sector banker in India, reported a higher stand-alone net profit on increased interest and non-interest income for the fourth quarter.

The Vadodara, Gujarat-based bank posted a fourth-quarter stand-alone net profit of Rs.1,518.18 crore or Rs.38.73 per share, compared with the Rs.1,294.35 crore or Rs.35.51 per share in the fourth-quarter of last year. Net profit and earnings per share grew by 17 and nine percent respectively.

For the quarter, the bank's net interest income grew by seven percent to Rs.2,797.40 crore from the Rs.2,613.88 crore for the same period last year. Non-interest income for the quarter rose by eight percent to Rs.897.79 crore from the Rs.834.49 crore in the year-ago quarter.

Total income for the quarter increased by 26 percent to Rs.9,016.31 crore from the Rs.7,168.65 crore during the Q4 of last year.

Revenue for the quarter from 'Domestic' segment amounted to Rs.7,880.74 crore, compared with Rs.6,345.33 crore in the year-ago quarter, an increase of 24 percent, while that from 'International' was Rs.1,135.57 crore, up by 38 percent from the Rs.823.32 crore in Q4FY11.

Operating profit for the quarter before provisions and contingencies rose by five percent to Rs.2,050.93 crore from the Rs.1,945.81 crore in the prior-year quarter.

For the fiscal year, BOB reported a net profit of Rs.5,006.96 crore, up by 18 percent from the Rs.4,241.68 crore in 2011.

Net interest income for the 12 months rose by 17 percent to Rs.10,317.01 crore from the Rs.8,802.26 crore for the 12 months ended March 31 last year, while non-interest income grew by 22 percent to Rs.3,422.33 crore from the Rs.2,809.18 crore in the previous year.

Total income during the year rose by 34 percent to Rs.33,096.05 crore from the Rs.24,695.10 crore in the preceding year.

As at the end of March this year, gross NPA as a proportion of gross customer assets, were 1.53 percent, while the net NPA as a proportion to net customer assets were at 0.54 percent.

Capital-adequacy ratio, as per Basel-II, was 14.67 percent as at the end of March this year, up from the 14.52 percent as on March 31 last year.

As at the end of March this year, the bank's total deposits were Rs.384,871 crore, up by 26 percent from the Rs.305,439 crore as at the end of March last year, while advances rose by 26 percent to Rs.287,377 crore from the Rs.228,676 crore as at the end of March 2011.

The bank's Board has recommended a dividend of Rs.17.00 on an equity share of Rs.10 for the fiscal year 2012 to be paid by July 9, 2012.

BOB share at the BSE is currently trading at Rs.698.00, down Rs.32.90 or 4.50 percent on a volume of around 450,000 shares.

by RTTNews Staff Writer

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