Bank of Baroda back in the black, net profit rises to Rs 710 crore in Q1

State-owned lender Bank of Baroda has reported a net profit of Rs 710 crore in its April-March quarter of FY20 on account of higher non-interest income. In the same period in FY19, the lender had posted a loss of Rs 49 crore. This is the bank’s first quarterly result after Dena Bank and Vijaya Bank were amalgamated with Bank of Baroda. 

The net interest income (NII) of the lender saw a 2.61 per cent rise to Rs 6,496 crore in Q1FY20, compared to Rs 6,331 crore. The net interest margin (NIM), a measure of profitability of the banks, of Bank