associate sponsors

Havells
HDFC

Bank of Baroda posts Q3 loss as bad loans surge | Reuters

MUMBAI Bank of Baroda, India's second-largest lender by assets, reported a quarterly loss of 33.42 billion rupees ($491 million), as bad loans at the state-run bank increased sharply.

The loss for the fiscal third quarter ending December 31 compared with a profit of 3.3 billion rupees a year earlier, the Mumbai-based lender said in a regulatory filing.

Analysts on average had expected a net profit of 4.93billion rupees for the bank, which late last year too on a chiefexecutive from the private sector as part of a government bid toreform state banks.

($1 = 68.1082 Indian rupees)

(Reporting by Sumeet Chatterjee and Himank Sharma; Editing by Richard Pullin)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Feb 13, 2016 07:31 AM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See