[ad_1]
People sit outside Bank of Baroda’s branch in Kolkata, India May 16, 2017. Picture taken May 16, 2017. REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing Rights
MUMBAI, Nov 4 (Reuters) – India’s Bank of Baroda (BOB.NS) reported a 28.4% jump in net profit for the July-September quarter on Saturday, led by robust loan growth.
The state-run lender’s net profit rose to 42.53 billion rupees ($511.55 million) in its second quarter, from 33.13 billion rupees a year ago.
That was higher than analysts’ forecast of 40.04 billion rupees, according to LSEG data.
Net interest income – the difference between a bank’s interest earned and paid – rose 6.5% to 108.31 billion rupees.
($1 = 83.1400 Indian rupees)
Reporting by Siddhi Nayak
Our Standards: The Thomson Reuters Trust Principles.
[ad_2]
Source link