BoB Back in the Black with .₹ 253 crore Net

The Economic Times - - Markets: Beating Volatility -

Bank of Bar­oda posted a net profit of .₹ 253 crore for the third quar­ter, swing­ing back from a year ear­lier loss of .₹ 3,342 crore. Its net in­ter­est in­come — the dif­fer­ence be­tween in­ter­est earned and in­ter­est ex­pended — rose 15.86% to .₹ 3,134 crore in the quar­ter though De­cem­ber. Net in­ter­est mar­gin was 2.49% for do­mes­tic op­er­a­tions and 2.06% for global busi­ness.The state-run bank saw low-cost cur­rent and sav­ings ac­count de­posits to to­tal do­mes­tic de­posits go­ing up to 40.46% in the past quar­ter as against 34.23% at the end of Septem­ber. “The quar­ter saw a turn­around in do­mes­tic credit growth and do­mes­tic ad­vances were .₹ 2,50,033 crore as at De­cem­ber 31, 2016 against .₹ 2,46,494 crore as at Septem­ber 30, 2016,” the bank said in a state­ment. Dur­ing the quar­ter, CASA de­posits showed ro­bust growth driven by de­posit of cash af­ter de­mon­eti­sa­tion. The quar­ter also saw re­pay­ment of FCNR (B) de­posits of over .₹ 11,500 crore, mo­bilised dur­ing the third quar­ter of 2013-14. It recorded a mar­ginal im­prove­ment in as­set qual­ity. Gross non­per­form­ing as­sets re­duced to .₹ 42,642 crore from .₹ 42,949 crore as of Septem­ber 30, 2016. Gross NPA ra­tio was 11.40%, com­pared with 11.35% three months ear­lier. The cor­re­spond­ing fig­ures of net NPA were 5.43% and 5.46%. To­tal re­struc­tured stan­dard as­sets of the bank to­taled .₹ 14,059 crore. To­tal stressed as­sets in­clud­ing gross NPA and re­struc­tured stan­dard as­sets were 15.16% of the to­tal. – Our Bureau

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.