Bank of Baroda reports net loss of Rs 1,046 cr in Q4
Published On: Saturday, May 29, 2021 | By: Team KnowMyStock
Bank of Baroda (BoB) reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20). BoB's net interest income (NII)-the difference between interest earned and interest expended increased 4.5 percent to Rs 7,107 crore for the fourth quarter as compared to Rs 6,798.2 crore in the year-earlier period. On a consolidated basis, the net loss of the lender stood at Rs 740 crore for the quarter. The Bank’s gross non-performing assets (NPAs) rose sequentially to 8.87 percent in Q4FY21. In Q3FY21, gross NPAs of the bank were at 8.48 percent. Meanwhile, net NPAs stood at 3.09 percent. The Bank has stopped short of declaring any dividend for the financial year 2020-21.
The lender said its board has approved raising of additional capital up to Rs 5,000 crore comprising of Rs 2,000 crore of Common Equity Capital by various modes including QIP, etc. in suitable stages and Rs 3000 cr, by way of Additional Tier I capital/Tier II capital instruments.
On Friday (28th May 2021), the lender's scrip rose marginally (0.36 per cent) to settle at Rs 83.85 on NSE
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