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Bank of Baroda posted a net loss of ₹3,230.14 crore for the fourth quarter of FY16 as against a net profit of ₹598.35 crore in the year-ago quarter.
A sharp jump in provisioning for bad loans and bad debts written off at ₹4,880 crore in the reporting quarter, against ₹1,491 crore in the year-ago quarter, affected the bottomline.
Total income increased from ₹12,057.39 crore in Q4FY15 to ₹12,789.06 crore in Q4FY16.
For FY16, the bank posted a net loss of ₹5,395.55 crore as against a net profit of ₹3398.43 crore in FY15.
Total income increased from ₹47,365.55 crore in FY15 to ₹49,060.13 crore in FY16.
The bank’s capital adequacy ratio as per Basel-III norms stood at 13.17 per cent, up 57 bps year-on-year (yoy). The bank made provisions at 20 per cent on secured sub-standard advances as against the regulatory requirement of 15 per cent. The bank also made provisions of ₹25.31 crore for diminution in the value of loans / discom bonds.
Gross NPAs increased from 6.27 per cent to 9.99 per cent. Net NPAs also rose 3.17 per cent to 5.06 per cent.
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