Baroda Bank in the back; records Profit of 1,209 crore in the first quarter


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Banka Baroda (BoB) was again in the red in the first quarter of 2012, reporting an independent net profit of 1,209 kroner due to strong growth in other income and falling provisions for bad loans.

The public sector bank reported a net loss in the quarter of last year (₹ 864 crore) and in the quarter of March (₹ 1,046.50 crore).

Net interest income (the difference between earned interest and spent interest) increased by 16 percent compared to the previous year, to 7 7,892 (8 6,816 in the quarter of the previous year).

Other income, including commissions, exchange and brokerage, treasury income and refunds on written-off accounts, jumped 63 percent year-on-year to 2. 2,970 (₹ 1,818 crore).

Provisions, including bad loans, decreased by 23 percent compared to the previous year, to 4,112 kroons (HRK 5,349).

Additional provision

The bank said it had secured additional reserves of 373 million “in the June quarter, in line with the RBI’s June 7, 2019 circular documentation on the” Prudential Framework for Resolving Stress Assets, which issued guidelines for implementing the Recovery Plan. ”

Gross non-performing assets (GNPAs) decreased by .6 3,642 crore during the reporting quarter to .0 63,029 crore by the end of June.

The NPA’s gross position improved slightly to 8.86 percent of the gross advance at the end of June 2021 compared to 8.87 percent at the end of March 2021.

Net NPA

The NPA’s net position also improved to 3.03 percent of the net advance at the end of June 2021 versus 3.09 percent at the end of March 2021.

The number of debtors’ accounts on which the change (restructuring) was sanctioned according to the RBI circular (May 5, 2021) on the environment “Resolution Framework – 2.0: Resolving the stress of individuals and small businesses related to Covid -19” was sanctioned and implemented was 8,544 and the total exposure to such borrowers amounted to HRK 665 million.

The bank purchased a PSLC (priority sector lending certificates) of .5,500 crore in the category of small and marginal farmers and sold a PSLC of ₹ 1,000 crore in the micro-enterprise category during the current quarter.

Deposits decreased slightly (0.34 percent year on year) to HRK 9.31,317. Advances were down 2.66 percent year-on-year, to 6.68,382 croe.

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