Net Profit of Rs 154.72 Crore for BoB
State-run Bank of Baroda reported a net profit of Rs 154.72 crore for the quarter ended March 31, 2017, as compared to a net loss of Rs 3,230.14 crore for the same period a year ago.
State-run Bank of Baroda reported a net profit of Rs 154.72 crore for the quarter ended March 31, 2017, as compared to a net loss of Rs 3,230.14 crore for the same period a year ago. The lender's total income in the quarter under review increased marginally to Rs 12,852.44 crore from Rs 12,789.06 crore in the year-ago period, but its net interest income (NII) during the period grew by 7.57 per cent year-on-year at Rs 3,582 crore.
In the three months ended March, the bank's gross non-performing assets (NPAs) in absolute terms rose 5.4 per cent year-on-year to Rs 42,718.70 crore from Rs 40,521.04 crore for the corresponding period previous fiscal. Gross NPA as a percentage of total loans rose to 10.46 per cent in the quarter from 9.99 per cent during the same period previous fiscal. Net NPA ratio stood at 4.72 per cent as against 5.06 per cent for the year-ago period. During the fourth quarter of 2016-17, provisions for non performing assets have been reduced to Rs 2,425.07 crore as compared to Rs 4,880.13 crore in the corresponding quarter of previous fiscal. Under Basel III, the bank's capital adequacy ratio during the quarter stood at 12.24 per cent.