Bank of Baroda sees FY12 net interest margin at 3 pct

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Bank of Baroda sees FY12 net interest margin at 3 pct

Bank of Baroda expects to maintain its net interest margin, a key gauge of profitability, at about 3% for this fiscal year that ends in March, its chairman said.

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Bank of Baroda (BoB) expects to maintain its net interest margin, a key gauge of profitability, at about 3% for this fiscal year that ends in March, its chairman said.

The state-run bank expects the government to infuse Rs 675 crore into the bank by March, MD Mallya told reporters, after it reported its December-quarter results. "We have had strong products due to strong fee income," he said.

BoB's international business saw a growth at around 44%, while the bank's global NIMs came at 2.99% and domestic NIMs at 3.51%. "The overall asset quality remained strong," he said adding, "yield on advances at 12.01%."