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Monday, October 22, 2012

Bank of Baroda net profit up 12% in Q2

Bank of Baroda today reported a better-than-expected net profit of Rs 1,301 crore for the quarter ended September 30 this year.

This reflects a 12 per cent increase over the net profit of Rs 1,166 crore recorded in the same quarter last year.

Total revenue for the quarter under review increased 20 per cent to Rs 9,551 crore (Rs 7,986 crore).

M.D.Mallya, Chairman and Managing Director of the bank, expressed optimism that the current strong performance will continue in the coming quarters as well.

He also maintained the guidance of 19-20 per cent growth in advances and deposits for the current fiscal.


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