Bank of Baroda expects FY14 non-performing loans at under 2 percent

MUMBAI (Reuters) - State-run lender Bank of Baroda expects to contain net non-performing loans at under 2 percent in the current financial year, Chairman and Managing Director S.S. Mundra told reporters on Thursday.

The bank sees a debt restructuring pipeline of 25-30 billion rupees for the quarter ended September, he said.

Earlier in the day, the bank reported a 3 percent rise in net profit at 11.7 billion rupees for the quarter ended June 30.

(Reporting by Swati Pandey; Editing by Sunil Nair)