Bank of Baroda stock rises 2% as asset quality improves in Q2
Bank of Baroda is currently trading at Rs 177.85, up by Rs 3.45 or 1.98% from its previous closing of Rs 174.4 on the BSE after the bank’s asset quality improved in Jul-Sep.
The asset quality for the quarter showed steady performance. The GNPA’s for the quarter rose by 8% yoy to Rs 46,306 crore. The GNPA’s as percentage to total advances declined by 19 bps to 11.16% vs 11.35% in Q2FY17. The NNPA also declined by 41 bps to 5.05% vs 5.46% in previous year corresponding quarter.
The NII for the quarter was saw 8.6% yoy increase to Rs 3,720 crore vs Rs 3,426 crore in Q2FY17. This was largely due to 2.6% yoy increase in interest income to Rs 10,753 crore. While, interest expended remained flat.
Further advances and deposits grew by 9% & 3% yoy to Rs 38,7301 crore & Rs 58,3212 crore respectively.
The scrip opened at Rs 177.35 and has touched a high and low of Rs 180.9 and Rs 169.45 respectively.
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Via:: Stock – India Infoline