Bank of Baroda Q3 net up 75%; exposure to Adani Group well below RBI cap

Bank management says, exposure to Adani Group well below the ceiling prescribed by RBI under large exposure framework

Robust growth in net interest income (NII) and expansion in margins helped public sector lender Bank of Baroda report its highest-ever quarterly profit in the October–December quarter (Q3) of FY23. 

Its net profit jumped 75.4 per cent year-on-year (YoY) to Rs 3,853 crore during this period from Rs 2,197 crore in the year-ago period.

The lender’s NII grew 26.5 per cent YoY to Rs 10,818 crore in Q3 on the back of healthy growth in advances. Net interest margin (NIM), a measure of profitability, stood at 3.37 per cent, up 4 basis points (bps) from the previous quarter, and 24