PSU lender, Bank of Baroda (BoB) beats street’s estimates in the quarter ending September 30, 2022 (Q2FY23) period with profitability witnessing double-digit growth. The bank garnered a standalone net profit of ₹3,312.42 crore in Q2FY23 rising by 58.70% from a profit of ₹2,087.85 crore posted in Q2 of the previous fiscal. During the quarter, the bank’s provision’s declined, while asset quality improved sharply. Further, its organic retail loan portfolio saw healthy growth with strong performance in personal loan book. Overall, deposits and advances registered robust growth in Q2FY23.
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