Bank of Baroda plans to raise ₹5,000 crore ($690 million) from sales of shares and bonds after posting an unexpected loss in the fourth quarter. The bank posted a net loss of ₹1,050 crore in three months ended March 31 from a profit in the year-earlier period. The bank raised ₹4,500 crore from institutional investors in March to strengthen its capital ratios as the South Asian nation’s financial sector got hit hard by the coronavirus pandemic. Bank of Baroda’s gross bad loan ratio was at 8.87% at the end of March compared with 8.48% at end-December. Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint May 30, 2021 13:41 UTC