Bank of Baroda Q2 net jumps 73%

 thehindu.com  11/08/2019 17:22:39 

Bank of Baroda reported a 73.2% jump in its net profit to 736.68 crore in the second quarter ended September 30, compared to 425.38 crore a year ago.

Asset quality improved with gross non-performing asset (NPAs) ratio falling to 10.25% or 69,968.95 crore at the end of September 2019, from 11.78% or 55,121.37 crore a year ago.

Provisions for bad loans and contingencies rose to 4,209.16 crore for the quarter, from 2,429.54 crore a year ago. Fresh slippage was at 6,001 crore and provision for NPAs was at 3,425 crore. The bank said it had received 7,000 crore towards preferential allotment of equity shares from the government during the quarter.

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