Ashwini Kumar consolidates year two at Baroda with a 48.7% profit jump
Bank of Baroda Managing Director, Mr Ashwini Kumar. The bank has seen a 48.7% rise in net profit and a 12.1% growth in assets
Shareholders of Bank of Baroda (USE: BOBU) will smile all the way to the bank following a 48.7% reported increase in net profit. According to results published last weekend, the lender’s profit grew from UGX49.4bn to UGX73.48bn- thanks to a 12.6% rise in income coupled with 6% drop in total costs.
Total income rose from UGX174bn in 2017 to UGX196bn while
total expenditure declined from UGX109
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