sbi, Bank of baroda q3 results 2022


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State Bank of India has announced financial inclusion on its third-quarter yearly basis. State Bank of India posted a 62% increase in profit which stood at Rs.8431 crores which were above the expectations of Rs.7957 crores in the analysis.

The lender's bottom line grew exponentially. 6974 crores with a decline of 32%. The analysis expected the state-owned lender to report ₹6173 crores. While there was a decline year after year, the loan loss in this quarter increased to Rs 3096 crores from Rs 2290 crores in the year-ago period, totaling Rs 6183 crores.

The state-owned lender's interest income rose 6.5% year-on-year to Rs 30687 crore for the third quarter in the report, lower than the expected Rs 30115 crore. Net interest margin rose 6 basis points year-on-year to 3.4%, which is in line with expectations.

 The bank said credit growth in the third quarter stood at 8.5 percent year-on-year with home loans growing at 6.5%, which was largely in line with expectations. Credit growth was led by the retail book which grew at 14.6%.

SBI has said that corporate and small businesses also grew during the third quarter. The bank's assets have seen a strong improvement as the gross non-performing assets for the quarter stood at 4.5% against 4.9% in the previous quarter. 

Net NPA ratio improved to 1.34% in the quarter from 1.52% in the previous quarter. 2334 crores during the quarter on a year-on-year basis but reduced from ₹ 9500 to ₹ 11000 crores as expected in the analysis.

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Bank of Baroda

Bank of Baroda

Bank of Baroda reported a 7 107 percent increase in net profit for the third quarter on account of higher net interest income and lower provisions. Good profit for the quarter stood at Rs 2197 crore from last year's Net interest income.

 The difference between interest earned and interest spent increased by 14.38% on a year-on-year basis to Rs 8552 crore. Other income including fees, business profits, and miscellaneous income increased by 36 basis points annually.

 Gross Non-Performance declined by 13.45 percent year-on-year to Rs 2519 crore in the third quarter, from Rs 63182 crore in 2021 to ₹ 55997. The net NPA ratio was 2.2 5 percent in the third quarter, which increased to 2.83 percent in the financial year.

The retail loan portfolio grew by 11.13 percent to Rs 1.28 trillion, out of which the retail loan portfolio grew by 4.75 percent to Rs 7.32 trillion in the third quarter from 2.9 percent in the previous year's quarter. 

The corporate loan book of the bank was at the level of Rs 2.91 lakh crore last year. There was an increase of 6.57% and 20.54 percent in home loans and auto loans. 

Small business loans grew by 2.39 percent while gold loans grew by 28%, the bank's decline in the third quarter stood at ₹2830 crores while its recovery from NPM during the third quarter stood at ₹5200 crores in the second quarter.

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