Business

Bank of Baroda's net doubles

Bank of Baroda has doubled its net profit to Rs. 545.93 crores in 2001-02. Enthused by the performance, the bank has declared a 40 per cent dividend. The operating profit grew by 26.3 per cent to Rs. 1,309.26 crores and total income by 7.5 per cent to Rs. 6,948.71 crores.

Global deposits grew by 14.3 per cent to Rs. 61,804.46 crores and advances by 22.8 per cent to Rs. 33,662.99 crores. The capital adequacy ratio stood at 11.32 per cent in 2001-02 against 12.8 per cent in the previous fiscal.

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