Bank of Baroda Q3 net up 52% at Rs 501 cr

Written by Agencies | Mumbai, Jan 30 | Updated: Jan 31 2008, 06:48am hrs
Public sector Bank of Baroda today posted a 52.23% increase in net profit at Rs 501.05 crore for the quarter ended December 31, 2007, against Rs 329.13 crore in the corresponding period a year ago.

The total income of the bank grew 35.68% at Rs 3,620.18 crore for the quarter under review, compared to Rs 2,668.11 crore in the same quarter last year, the company informed the Bombay Stock Exchange.

Shares of the bank were trading at Rs 396, down 2.88% on the BSE.

Oriental Bank net dips

Oriental Bank of Commerce (OBC) on Wednesday reported a 24% decline in net profit at Rs 138.48 crore for the third quarter ended December 31, 2007 as compared to Rs 182.42 crore in the corresponding quarter last year.

However, the total income jumped 32.4% at Rs 1,915.28 crore for the quarter under review as against Rs 1,446.72 crore in the same period a year ago, it said in a filing to the Bombay Stock Exchange.

In late afternoon trade, shares of the firm were trading at Rs 259.25, down 1.98% at the BSE.

Andhra Bank net up

Andhra Bank has reported a net profit of Rs 159.02 crore during the quarter ended December 2007 as against Rs 136.27 crore in the same period previous year. Interest earned during the quarter stood at Rs 1,085.68 crore (Rs 812.76 crore). Operating profit was Rs 288.29 crore (Rs 242.03 crore).

Net non performing assets of the bank as a percentage of net advances was 0.16% while the capital adequacy ratio was comfortable at 12.03%. The banks business recorded a growth of 21.94% to touch Rs 75,225 crore as on December 2007. Of this, Rs 43,911 crore was deposits and Rs 31,314 crore was advances. As of December 2007, the bank has 592 ATMs, including 3 mobile ATMs across the country, K Ramakrishnan, chairman and managing director said in Hyderabad on Wednesday.

IOB registers Rs 308 cr net in Q3

Indian Overseas Banks net profit for the third quarter ended December 2007 stood at Rs 308.18 crore as compared to Rs 246.78 crore for the corresponding period last year. Total business of the bank grew from Rs 1,03,288.67 crore (December 31, 2006) to Rs 1,33,412.74 crore (December 07), recording a year on year growth of 29.16%. Total deposits grew from Rs 59,199.70 crore (December 31, 2006) to Rs 78,791.28 crore (December 31, 2007), thus registering a growth of 33.09%. Further, gross and net NPAs decreased to 1.87% and 0.36% at the end of December 2007.