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Hit by bad loan surge, Bank of Baroda Q1 net drops 23% at Rs 1,052 cr

Jul 30, 2015    

New Delhi: State-run Bank of Baroda (BoB) reported 22.74 percent decline in net profit at Rs 1,052.15 crore during the first quarter ended June 30, on higher provision for bad loans and wage revision. The bank had reported a net profit of Rs 1,361.88 crore in the corresponding first quarter of the previous fiscal.Total income of the bank, however, showed a rise of 4.8 percent at Rs 12,243.72 crore during the quarter as against Rs 11,682.50 crore a year ago, it said in a BSE filing. Bank's asset quality slipped further in the first quarter of 2015-16 as gross non-performing assets (NPAs) or bad...

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