Bank of Baroda posts Rs 507 cr profit in Q4 on lower bad loans provision

The bank had posted a net profit of Rs 991.37 crore in the January-March quarter of the preceding fiscal ended March 2019

State-run Bank of Baroda reported a profit-after-tax of Rs 507 crore in the March quarter, helped by lower provisioning for bad loans.

Effective April 1, 2019, the bank amalgamated Dena Bank and Vijaya Bank with it. The numbers for the quarter/year ended March 31, 2020 are comparable with that of same period of the year ended March 31, 2019.

Bank of Baroda had reported a net loss of Rs 8,875 crore in the same period last year.

The provisions for non-performing loans declined by 69.23 per cent to Rs 3,190 crore as against Rs 10,368 crore in the same quarter of last year.

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