June 24, 2020, The Liberacy:- Bank of Baroda, the State-run bank recorded a surge of 9% on a single day to ₹55 apiece on the BSE holding. On Wednesday, the shares saw a surge in the price, the Bank of Baroda said, that the financial results comprised earnings of Vijaya Bank and Dena Bank, which were merged in the Bank of Baroda last year.
The Bank has reported a net profit of ₹506.60 crores for the March quarter. The Bank marked a loss of ₹991.40 crores in the same quarter last year.
The rise in several other factors has also helped the Bank to perform on the BSE listings. These factors are NPA, net NPA, and net interest income.
Also, the merger of banks, have a great remark to be underlined.
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The NPA (Non-performing Assets) of Bank of Baroda was at 9.40% in the 4th quarter of the financial year 2019-2020, compared to 10.43% in the 3rd quarter of the financial year 2019-2020.
The value of NPA for the 4th quarter was ₹69,381.43 crores in the 4th quarter and ₹73,139.70 crores in the 3rd quarter.
The Net NPA was at 3.13% as the quarter ended on 31st March 2020, compared to 4.06% in the previous quarter.
The Net Interest Income (NII), that the difference between the interest earned and the interest expended, saw a sharp rise to 40% at ₹6,798 crores.
The operating expenses have also cut short which has added to the rise in the operating profit.
The low point in Bad Loans has played a major role in deciding the profit and hitting it at maintaining a higher operating profit, with less operating expenses. The merger of Dena Bank and Vijaya Bank, as predicted before that it will only increase the operating cost has helped the Bank of Baroda to hit high on BSE.
On Wednesday, at 11 AM the price of the single share of Bank of Baroda was at ₹53, and at the market rolled, the Bank surged 9%, counting the total at 50% in a month.
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