Bank of Baroda (BoB) reported a standalone net loss of ₹1,046.5 crore for the quarter ended March. The bank had posted a net profit of ₹506 crore in the same quarter last year and ₹1,061 crore profit in the previous quarter. The net interest income (NII), which is the difference between interest earned and interest expended, rose around 4% to ₹7,107 crore against ₹6,798.4 crore year-on-year (YoY). The provisions and contingencies for the quarter stood at ₹3,586 crore as compared to ₹3,434.6 crore in the previous quarter and ₹6,645 crore in the year ago quarter. The net NPAs rose to 3.09% in Q4FY21 from 2.39% in Q3FY21.

Source: Mint May 29, 2021 10:29 UTC