 "Bank of Baroda")
Bank of Baroda’s (BoB’s) pre-tax profit rose 34.61 per cent to Rs 5,748 crore for the December 2019 quarter (Q3FY20), against Rs 4,270 crore in Q3FY19. But, the bank posted net loss of Rs 1,407 crore in the quarter, against net profit of Rs 436 crore for Q3FY19, mainly on the back of higher provisioning.
The figures are for the amalgamated entity as the three-way merger of Bank of Baroda, Vijaya Bank, and Dena Bank came into effect in the first quarter (Q1FY20).
The comparison is being made with the combined results of the three banks during the corresponding quarter last year.
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