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Bank of Baroda swings back to profit in Q4 at Rs 155 cr

Profit comes on the back of fall in share of gross bad loans

Reuters  |  Mumbai 

Indian state-run Bank of Baroda on Thursday reported a fourth-quarter net profit of Rs 155 crore ($23.89 million). The Mumbai-based bank, the fifth-biggest in the country by assets, had reported a net loss of Rs 3,230 crore in the year-ago quarter. Analysts, on average, had expected the bank to report a net profit of Rs 516 crore in the three months to March 31, according to Thomson Reuters data. Gross bad loans as a percentage of total loans declined to 10.46 per cent at end-March from 11.40 per cent in December. Gross bad loans on an absolute basis was although higher at Rs ...

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First Published: Fri, May 19 2017. 00:30 IST
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