By Our Reporter
Bank of Baroda (BOBU) has recorded a net profit appreciation of 12.06% in the first half of 2015. This translates to Ushs 19.43 billion compared to Ushs 17.34 billion in the first half of 2014. This was attributed to a 7.2% rise in the company’s income complemented with only a 3.97% increment in expenses.
The bank expanded its loan book by 17.31% to Ushs 545.7 billion compared to Ushs 518.2 billion at the end of 2014. Interest earned from loans and advances to customers registered a 12.38% upswing in the first half of 2015 to record Ushs 39.73 billion.
BOBU shares have averaged Ushs 157 with a 6 month target price of Ushs 178.89 due to the growth observed in the first half of this year and steady performance of the company over the past five years.
