Bank of Baroda swings to profit in third quarter

Bank of Baroda on Wednesday reported a consolidated net profit of Rs 1,159.17 crore for the third quarter ended December 31, 2020.

The state-owned bank had posted a net loss of R 1,218.87 crore for the same quarter a year ago.

Total income of the bank fell to Rs 22,070.52 crore during October-December period of 2020-21 from Rs 23,134.67 crore in the yearago quarter, Bank of Baroda said in a regulatory filing.

The lender improved on its asset quality with gross non-performing assets (NPAs) falling to 8.48 per cent of the gross advances by December-end 2020 from 10.43 per cent by the same period a year ago.

In value terms, gross NPAs or bad loans fell to Rs 63,181.55 crore as against Rs 73,139.70 crore.

Net NPAs also came down to 2.39 per cent.