Bank of Baroda posts slip in Q3 net profit by 21.6%
By Joseph Samson
Feb 5, 2013
Print    Email    RSS   

The public sector lender, Bank of Baroda reported dip in net profit by 21.6% for the third quarter of the current financial year, which ended on December 31st, 2012. The slip in net profit was due to higher provisioning for bad loans coupled with dip in non-interest income for October-December quarter.

Bank of Baroda posted a net profit of Rs 1,012 crore which is down by 21.6 per cent, compared with Rs 1,290 crore in the corresponding period of the previous year.

Net interest income (NII) grew by 7 per cent at Rs 2,841 crore as compared to Rs 2,656 crore in the corresponding period of last year. However, non-interest income sliped by 27 per cent at Rs 841 crore againstRs 1,149 crore.

Provisions for bad loans were higher at Rs 817 crore against Rs 509 crore for year ago period. During the quarter, bad loans, in gross terms, rose by Rs 1,442 crore to Rs 7,321 crore.

Non-interest incomes mainly due to decline in trading gains and dip in profit on exchange transactions.

Bank of Baroda is expecting a capital infusion of Rs 850 crore from the Central Government.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

J&K Bank raises PLR
Income Tax Benefits on Joint Home Loans
Step up loans: An easy way to own a dream...
Carnival of Indian Personal Finance Blogs #3
Home Loan or Own Funds: A Classic Dilemma

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive