BoB reports net loss of Rs 1,046 cr in Q4, to raise additional Rs 5,000 cr

The Bank's gross non-performing assets (NPAs) rose sequentially to 8.87 per cent in Q4FY21

State-owned lender Bank of Baroda (BoB) reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20).

BoB's net interest income (NII) --- the difference between interest earned and interest expended --- increased 4.5 per cent to Rs 7,107 crore for the fourth quarter as compared to Rs 6,798.2 crore in the year earlier period.

The Bank attributed the loss to a shift to new tax structure and on account of DTA reversal. "Excluding the impact of the change in tax regime, Bank