MUMBAI : Public sector lender Bank of Baroda (BoB) on Friday reported a net loss of ₹1,407 crore for the three months to December, owing to higher provisions for bad assets. On 1 April 2019, Bank of Baroda merged itself with two other state-owned banks, Dena Bank and Vijaya Bank. The bank provided comparable numbers for FY19’s December quarter by adding up the individuals numbers for the three banks. Its gross bad loan ratio, or total bad loans as a percentage of total advances, fell 48 basis points (bps) to 10.43% y-o-y. Of this, ₹4,509 crore was owing to RBI’s divergence report that found under-reporting of bad loans.

Source: Mint January 24, 2020 13:30 UTC