Bank of Baroda posts record Rs.3,342.04 crore loss in Q3

Mumbai, Feb 13 (IANS) Public sector lender Bank of Baroda on Saturday said it posted a net loss of Rs.3,342.04 crore for the quarter ending December 31, 2015 against a net profit of Rs.333.98 crore posted in the same period of the last fiscal.

According to the unaudited financial results posted on the Bombay Stock Exchange (BSE), the bank’s total income in the quarter was Rs.11,726.95 crore as against Rs.11,808.34 crore in the same quarter of 2014-15, and expenses rose to Rs.10,022.81 crore from Rs.9,469.3 crore.

However, its provisioning for non-performing assets (NPAs) escalated five-fold to Rs.6,474.14 crore against Rs.1,149.82 crore in the same quarter of 2014-15.

At the end of quarter under review, gross NPA stood at 9.68 percent and net NPA at 5.67 percent.

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