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BOB’s Q3 Profit Sees Massive Surge Alongside Rising Shares.

Q3 Profit Of BOB Increments By Multiple Times; Shares Surge By 2 Per Cent
BY BEx Bureau
BusinessEx
Jan 29, 2019

On Tuesdays morning, BOB (Bank of Baroda) views a surge in the share market. The shares of the bank rise up by 2 per cent prior to the financial results of Q3. The financial results were higher than the last quarter that is, 2.11 per cent surge at INR 111.50. Meanwhile, BSE Sensex leapt down to 42.75 points at 35,613.31. (Source: ET)

Motilal Oswal Financial services, a renowned brokerage firms views BOB year-on-year net profit and said that the bank has 734.60 per cent YOY surge; further, there is 6.6 per cent rise in net income in terms of Q3. The brokerage firm anticipates that worth of the assets will remain steady. On Quarter-on-Quarter basis, gross NPA (non-performing asset) of the public lender has been gauged at 11.10 per cent against 11.80 per cent. The bank management plans to build up more retained fee income channels, which would be clubbed with development in treasury performance, are anticipated to beget a slight increase in other income streams.

While the other bank, Kotak Institutional Equities views 1861 per cent YOY and 415 per cent QOQ leap in the profit following BOBs tax of Q3. Further, the bank had shown an increase in the net interest income (NII) by 11 per cent YOY and 9 per cent QOQ.

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