NEW DELHI: State-owned Bank of Baroda (BoB) on Friday reported a web lack of Rs three,102.34 crore for the January-March quarter of 2017-18 because of higher provisioning for mounting dangerous loans.
The lender had registered a web profit of Rs 154.72 crore in the corresponding quarter of 2016-17.
Provisions for dangerous loans jumped to Rs 7,052.53 crore in the March quarter, from Rs 2,425.07 crore in the same length of 2016-17, in step with a regulatory submitting via the bank.
Total source of revenue dropped to Rs 12,735.16 crore in the final quarter of 2017-18 from Rs 12,852.44 crore in the year-ago length.
Asset quality of the bank worsened as gross non-performing assets (NPAs) or dangerous loans surged to 12.26 in keeping with cent of gross advances as on March 31, 2018, in opposition to 10.46 in keeping with cent as on March 31, 2017. In absolute price, gross NPAs have been Rs 56,480.39 crore, up from Rs 42,718.70 crore a 12 months in the past.
Net NPAs have been at five.49 in keeping with cent (Rs 23,482.65 crore) as of March 2018 in opposition to 4.72 in keeping with cent (Rs 18,080.18 crore) in the 12 months in the past length.
The bank stated its board of administrators at the assembly held nowadays did not declare any dividend for 2017-18.
Besides, the board authorized to boost additional fund of Rs 10,000 crore until March 2019 and extra if needed.
Of this, Rs 6,000 crore is to be raised via not unusual fairness capital via various modes and Rs 4,000 crore by the use of additional tier I/II capital instruments to be floated in India or in a foreign country in appropriate tranches.
Shares of the bank closed 1.80 in keeping with cent up at Rs 141.20 on BSE.
The lender had registered a web profit of Rs 154.72 crore in the corresponding quarter of 2016-17.
Provisions for dangerous loans jumped to Rs 7,052.53 crore in the March quarter, from Rs 2,425.07 crore in the same length of 2016-17, in step with a regulatory submitting via the bank.
Total source of revenue dropped to Rs 12,735.16 crore in the final quarter of 2017-18 from Rs 12,852.44 crore in the year-ago length.
Asset quality of the bank worsened as gross non-performing assets (NPAs) or dangerous loans surged to 12.26 in keeping with cent of gross advances as on March 31, 2018, in opposition to 10.46 in keeping with cent as on March 31, 2017. In absolute price, gross NPAs have been Rs 56,480.39 crore, up from Rs 42,718.70 crore a 12 months in the past.
Net NPAs have been at five.49 in keeping with cent (Rs 23,482.65 crore) as of March 2018 in opposition to 4.72 in keeping with cent (Rs 18,080.18 crore) in the 12 months in the past length.
The bank stated its board of administrators at the assembly held nowadays did not declare any dividend for 2017-18.
Besides, the board authorized to boost additional fund of Rs 10,000 crore until March 2019 and extra if needed.
Of this, Rs 6,000 crore is to be raised via not unusual fairness capital via various modes and Rs 4,000 crore by the use of additional tier I/II capital instruments to be floated in India or in a foreign country in appropriate tranches.
Shares of the bank closed 1.80 in keeping with cent up at Rs 141.20 on BSE.
Bank of Baroda posts Rs 3,102 crore loss in Q4 as bad loans surge
![Bank of Baroda posts Rs 3,102 crore loss in Q4 as bad loans surge]()
Reviewed by Kailash
on
May 27, 2018
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