|
|
Bank of Baroda Q4 loss at Rs 3,102 cr up on NPA provisions
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 26 May, 2018
Continuing the sequence of
losses being reported by state-run banks, Bank of Baroda (BoB) on Friday
posted a net loss of Rs 3,102.34 crore for the fourth quarter ending
March caused by a rise in provisioning for bad loans.
The bank
had reported a net profit of Rs 155 crore in the fourth quarter of last
fiscal, according to a stock exchange filing.
The loss was due
to higher provisions on account of the recent Reserve Bank of India's
revised framework for stressed assets and large corporate loan
slippages, it said.
Provisions for non-performing assets (NPAs),
or bad loans, for the quarter in consideration jumped 190 per cent to
Rs 7,052.53 crore, over the Rs 2,425 crore on the same account during
same quarter of last year.
The bank's gross NPAs rose to 12.26
per cent in the January-March quarter, from 10.46 per cent in the
corresponding quarter of 2017-18.
Net NPAs during the quarter in review increased to 5.49 per cent, from 4.72 per cent in the fourth quarter of last year.
While gross NPAs during the fourth quarter stood at Rs 56,480.39 crore, net NPAs were at Rs 23,482.65 crore.
The
provisioning coverage ratio in the fourth quarter rose marginally at
67.21 per cent as compared to 66.83 per cent a year ago.
"There
is a fair movement in overseas transactions and we are getting more A
and above rated customers which we didn't have access to earlier," he
added.
Commenting on the figures, BoB Chief Executive P.S.
Jayakumar said in a statement: "We feel positive about the growth, it
has been at about 18 per cent (domestic advances growth). In retail, the
quality of customers has been on the positive while we are also seeing
an improvement in the MSME segment."
The bank said its board has
approved the raising of additional capital up to Rs 10,000 crore in the
current fiscal subject to regulatory approvals.
The Bank of
Baroda stock closed on Friday at Rs 141.20 a share, up Rs 2.50, or by
1.80 per cent, over its previous close on the BSE.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|