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Bank of Baroda Q3 profit rises to Rs 471 crore, asset quality improves

Total income in the reported quarter increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period

Bank of Baroda

Bank of Baroda is an Indian state-owned International banking and financial services company | Photo: Shutterstock

Press Trust of India New Delhi
Public sector lender Bank of Baroda (BoB) Tuesday reported an over four-fold jump in net profit at Rs 471.25 crore for the third quarter ended December 2018.

The bank had logged a net profit of Rs 111.78 crore in October-December 2017.

Total income in the reported quarter increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period, BoB said in a regulatory filing.

The bank's asset quality improved a tad with gross non-performing assets (NPAs) falling to 11.01 per cent of gross loans as of December-end 2018 against 11.31 per cent in the year-ago period.

Net NPAs or bad loans too came down to 4.26 per cent of total advances from 4.97 per cent by December-end 2017.

In absolute value, gross bad loans of the lender stood at Rs 53,184.28 crore as on December 31, 2018 as compared to Rs 48,480.44 crore a year ago.

As a result, provisions for non-performing asset during the reported quarter rose to Rs 3,416.02 crore as compared to Rs 3155.28 crore in the same period of 2017-18.

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First Published: Jan 29 2019 | 6:15 PM IST

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