INSUBCONTINENT EXCLUSIVE:
Mumbai: State run lender Bank of Baroda reported a quarterly loss of Rs 3102 crore at the end of March 2018 quarter at the back of
accelerated slippages and the impact of the RBI February 12 circular
It had reported a profit of Rs 154 crore during the same period last year
10.46 per cent a year ago
In absolute terms bad loans stood at Rs 56,480 crore
The bank reported fresh slippages of Rs 11765 crore during the March quarter
Provisions for bad loans jumped to Rs 7,052 crore from Rs 2,425 crore in the corresponding period last year
crore which includes its watch list and SMA 2 loans
PSU bank also reported asset classification divergence of Rs 2918 crore for the year FY17
The domestic credit growth of the bank grew at a healthy pace of 18% out of which the retail loans grew at 42.44% while the corporate book
The bank is targeting a credit growth of 15% and deposit growth of 10% for the fiscal year 2019
The PSU lender also has plans to divest stake in non-core assets like Baroda Pioneer, IndiaFirst Life Insurance, UTI and Bank of Nainital
in the current fiscal year
Of this, Rs 6,000 crore will be raised through common equity capital and Rs 4,000 crore by way of additional tier 1 and 2 capital
