BoB net Profit rises by 20%

Bank of Baroda announced a 20.1% jump in its net profit at Rs 1,032.9 crore on the back of a strong 40% year-on-year growth in its interest income at Rs 6,631 crore for the quarter ended June 2011.

Bank of Baroda announced a 20.1% jump in its net profit at Rs 1,032.9 crore on the back of a strong 40% year-on-year growth in its interest income at Rs 6,631 crore for the quarter ended June 2011.

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The banks total income grew by 36% at Rs 7,272 crore. The bank also witnessed a 51% jump in its interest expenditure at Rs 4,334 crore.

The bank also witnessed a marginal dip of 5.4% in its employee cost which stood at Rs 545 crore.