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Bank of Baroda Q2 profit tumbles as bad-loan provisions soar| Reuters

Nov 07, 2015    

MUMBAIBank of Baroda Ltd, India's second-biggest state-run lender by assets, posted on Friday an unexpectedly sharp 89 percent tumble in its quarterly net profit, hit by a spike in bad loans and higher provisions for impaired assets.The numbers cast a shadow over hopes of an improvement in the asset quality of India's banks, helped by a pickup in Asia's third-largest economy. State Bank of India, the country's top lender will report earnings later on Friday.Slower credit growth and a surge in bad loans in the past three years has hobbled the country's lenders. Despite some signs of a pick up i...

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