BoB Q2 Net Up 39% To Rs 137 Crore

Mumbai, October 28: | Updated: Oct 29 2002, 05:30am hrs
Bank of Baroda (BoB) on Monday reported 39.39 per cent rise in net profit during the second quarter of the current fiscal to Rs 137.22 crore, up from Rs 98.44 crore reported in the corresponding period of the previous fiscal. Net profit for the first half of the fiscal rose by 13.88 per cent to Rs 320.06 crore (Rs 281.05 crore). Total income for the first half-year rose by 5.81 per cent to Rs 3,602.10 crore (Rs 3,404.40 crore).

During the second quarter, BoBs operating profit rose by 80.95 per cent to Rs 448.82 crore (Rs 248.04 crore). Total income grew to Rs 1,907.97 crore (Rs 1,727.04 crore) and total interest earning stood at Rs 1,547.72 crore (Rs 1,472.98 crore). As on September 30, 2002, global advances stood at Rs 33,405 crore (Rs 29,048 crore) while global deposits was Rs 64,828.93 crore (Rs 59,615 crore). Total balance sheet size of the bank has reached to Rs 73,500 crore as on September 30, 2002.

The earning per share has gone up to Rs 10.81 (non-annualised) in September 2002 from Rs 9.49 (non-annualised) in the corresponding period of the last fiscal.

BoB has started its treasury operation from its integrated state-of-the-art treasury branch in Mumbai.

BoB has opened another branch at Kwalon (Hong Kong) for its foreign arm BoB HongKong Ltd. BoB has also plans to start an offshore branch and a representative office in Malaysia and a subsidiary in Tanzania as reported by FE earlier.