Bank of Baroda slips on reporting Q4 net loss of Rs 1046 cr

Bank of Baroda slipped 3.1% to Rs 81.25 after the public sector bank reported a net loss of Rs 1,046.50 crore in Q4 FY21 as against a net profit of Rs 506.59 crore in Q4 FY20.

The bank's total income remained stable at Rs 21,532.91 crore in Q4 FY21 over Q4 FY20. The bank's operating profit (before provisions & contingencies) jumped 27.3% to Rs 6,265.60 in Q4 FY21 over Q4 FY20.

The public sector bank posted a profit before tax of Rs 2,679.57 crore in Q4 FY21 compared with pre tax loss of Rs 1,723 crore in Q4 FY20.

The bank's net interest income stood at Rs 7,107 crore, 4.54% higher than Rs 6,798 crore in Q4 FY20. Global net interest margin (NIM) increased to 2.72% in Q4 FY21 compared with 2.63% in Q4 FY20 led by margin expansion in international business to 1.57% in Q4 FY21 from 1.21% in Q4 FY20.

The bank's total provisions for Q4 FY21 stood at Rs 3,586 crore, declining 46% from Rs 6,645 crore in Q4 FY20. On the asset quality side, gross non-performing assets (NPAs) stood at Rs 66,670.99 crore as on 31 March 2021 as against Rs 63,181.55 crore as on 31 December 2020 and Rs 69,381.43 crore as on 31 March 2020.

The gross NPA ratio stood at 8.87% as on 31 March 2021, compared to 8.48% on 31 December 2020 and 9.4% as of 31 March 2020. The net NPA ratio stood at 3.09% as on 31 March 2021 from 2.39% as on 31 December 2020 and 3.13% as on 31 March 2020.

The PSU Bank posted a 51.8% rise in net profit to Rs 828.95 crore on 4% decline in total income to Rs 82,859 crore for the year ended March 2021 (FY21) over the year ended March 2020 (FY20).

Bank of Baroda is an Indian state-owned banking and financial services company headquartered in Vadodara in Gujarat, India. Its domestic presence spans 8,214 branches and 11,633 ATMs and cash recyclers supported by self-service channels. The bank has a network of 96 overseas offices spanning 19 countries.

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