Mumbai, Jan 29 (TIWN) State-owned lender Bank of Baroda on Wednesday reported a net profit of Rs 1,061 crore for the third quarter of FY21.

Despite interest income declining by almost 7 per cent, net interest income rose 8.65 per cent to Rs 7,749 crore in Q3 compared to Rs 7,132 crore as interest expenses fell sharply. On the other hand, non-interest income rose 6 per cent to Rs 2,896 crore.   Domestic net interest margin (NIM) improved by 11 basis points (bps) to 3.07 per cent in Q3FY21 compared to 2.96 per cent in the preceding quarter, while global NIMs improved by 1 bp to 2.87 per cent.