MUMBAI: (Ajay Rawal) Public sector leading bank, Bank of Baroda today reported 10.26 per cent rise in net profit at Rs 11.39 crore for the first quarter ended June 30.
The Bank CMD Mr M D Mallya told mediapersons here today, “Total income of the bank during the reporting quarter rose to Rs 93.28 crore, from Rs 72.73 crore over the same period a year ago. While operating expenses of the bank grew to Rs 13.15 crore from Rs 11.76 crore a year earlier, tax expenses came down to Rs 2.08 crore from Rs 3.94 crore a year ago.
He further stated, “The bank had assets worth Rs 4,542.54 crore as on June 30, 2012, up from Rs 3,698.31 in the corresponding period a year ago.The Bank’s total business expanded by 22.6 per cent on y o y to Rs 6,68,552 crore in Q1, FY13 . Out of this,total deposits incrased by 22.3 per cent (y o y) to Rs 3,82,739 crore, whereas total advances increased by 23.0 per cent(y o y) to Rs 2,85,813 crore in Q 1 FY 13. Domestic CASA deposits share stood at the decent level 32.23 per cent in terms of Total Deposits and 33.72 per cent in terms of Core Deposits despite continuation of elevated returns on term desposits.The Bank’s Retail Credit increased by 6.43 (y o y) to Rs 32,922 crore and formed 16.5 per cent of the Gross Domestic Credit of the Bank as June 30,2012.While the Bank’s Farm Credit grew by 19.7 per cent ( y o y) to Rs 27,774 crore, its Credit to MSME sector grew by 21.1 per cent (y o y) to Rs 34,346 crore.”
Shares of the bank were being quoted at Rs 670 a piece on the BSE during late afternoon trade, up 3.14 per cent from the previous close.