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DESPITE a lacklustre credit scenario and volatile bond market, Bank of Baroda ( BoB) has managed a net profit growth of 37.32 per cent in financial year 2010 ( FY’ 10) and 20 per cent in fourth quarter of FY’ 10.

“ The bank managed to sustain a decent profit performance in FY’ 10 despite a lacklustre credit scenario and volatile bond market,” BoB chairman and managing director, M. D. Mallya said.

Operating profit of the bank, at Rs 4,853.81 crore in FY’ 10, was up 15.29 per cent as against Rs 4,209.99 crore in FY’ 09. Net profit in FY’ 10 was Rs 3,058.33 crore up 37.32 per cent as against Rs 2,227.20 crore in the last fiscal.

Net profit for Q4 of FY’ 10 was up 20.41 per cent at Rs 906.28 crore as compared to Rs 752.69 crore in year- ago period. The bank’s total income registered a growth of 9.40 per cent yearon- year ( YoY) and reached the level of Rs 19,423.25- crore in the last fiscal.

While interest earned on advances increased by 12 per cent ( YoY) to Rs 12,541.22- crore by March- end, non- interest income rose by just 2.34 per cent ( YoY) to Rs 2,724.91- crore, reflecting a slowdown in profit on sale of investments.