Bank of Baroda Posts Q4 Loss Of Rs. 3,102 Crore

Bank of Baroda Posts Q4 Loss Of Rs. 3,102 Crore

Bank of Baroda Ltd on Friday reported a net loss of Rs. 3,102 crore ($457.62 million) for the fourth quarter as India’s third-largest state-run lender booked higher provisions for bad loans.

That compared with a profit of Rs. 155 crore in the year-ago period and an average estimate of Rs. 5.72 crore loss in a Thomson Reuters poll of 15 analysts.

Gross bad loans as a percentage of total loans stood at 12.26 per cent at end-March, compared with 11.31 per cent in the previous quarter and 10.46 per cent a year ago.

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