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Bank of Baroda expects most provisions to have been done by H2FY19

The bank reported after the market's close on Friday that third-quarter net profit more than halved because the funds it set aside for soured loans nearly doubled from a year earlier

Reuters  |  Mumbai 

Bank of Baroda, India's third-biggest state-run lender, expects a recovery in its financial performance to quicken from the second half of the next fiscal year as soured-loan provisions gradually decline, a senior bank executive told Reuters on Monday. The bank reported after the market's close on Friday that third-quarter net profit more than halved because the funds it set aside for soured loans nearly doubled from a year earlier. Its shares, however, jumped as much as 10.7 percent on Monday as investors took comfort from the bank's stronger operating performance and ...

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First Published: Mon, February 12 2018. 19:48 IST
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