Baroda hopes to maintain net interest margin at 3.41-3.61 %

Bank of Baroda hopes to achieve a net interest margin in the range of 3.41-3.61 percent in the current financial year.

The bank had an NIM of 3.51 per cent in the last financial year.

"In FY13, our margins will be plus or minus 10 basis points of the margin level reported in the last financial year. Despite current economic environment, we are hopeful of maintaining our margin level in the current fiscal," said tha Chairman and Managing Director of Bank of Baroda, M D Mallya.

Mallya said that possible reduction in the cost of funds, along with increasing CASA base would support the NIM this fiscal.

The bank has posted a slight increase in gross NPA to 1.53 per cent in FY12 compared to 1.36 percent a year earlier.

Similarly, net NPA reported an increase to 0.54 per cent in the last financial year, compared to 0.35 per cent reported a year earlier.

The public sector lender posted a 17.3 per cent rise in its net profit to Rs 1,518.18 crore in the fourth quarter of last financial year compared to Rs 1,294 crore reported in the same period last year.

Total income of the bank rose by 25.8 per cent to Rs 9,016 crore during the January-March period.

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