Bank of Baroda Q3 profit jumps four-fold to Rs 471 crore; total income increases to Rs 14,562.85 crore

Bank of Baroda had logged a net profit of Rs 111.78 crore in October-December 2017

Press Trust of India January 29, 2019 19:31:18 IST
Bank of Baroda Q3 profit jumps four-fold to Rs 471 crore; total income increases to Rs 14,562.85 crore
  • Total income increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period, BoB said

  • The bank's asset quality improved a tad with gross non-performing assets (NPAs) falling to 11.01 percent of gross loans

  • Net NPAs or bad loans too came down to 4.26 percent of total advances from 4.97 percent by December-end 2017

New Delhi: Public sector lender Bank of Baroda (BoB) Tuesday reported an over four-fold jump in net profit at Rs 471.25 crore for the third quarter ended December 2018.

The bank had logged a net profit of Rs 111.78 crore in October-December 2017.

Bank of Baroda Q3 profit jumps fourfold to Rs 471 crore total income increases to Rs 1456285 crore

Representational image. Reuters

Total income in the reported quarter increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period, BoB said in a regulatory filing.

The bank's asset quality improved a tad with gross non-performing assets (NPAs) falling to 11.01 percent of gross loans as of December-end 2018 against 11.31 per cent in the year-ago period.

Net NPAs or bad loans too came down to 4.26 percent of total advances from 4.97 percent by December-end 2017.

In absolute value, gross bad loans of the lender stood at Rs 53,184.28 crore as on December 31, 2018 as compared to Rs 48,480.44 crore a year ago.

As a result, provisions for non-performing asset during the reported quarter rose to Rs 3,416.02 crore as compared to Rs 3155.28 crore in the same period of 2017-18.

 

 

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