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Home India BoBs bottomline hit due to high provisioning for NPA

BoBs bottomline hit due to high provisioning for NPA

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Bank of Baroda (BoB), leading public sector lenders witnessed a rise of 11.60% in net profit of Rs 13.01 billion for the quarter ended Sept. 30, 2012 as compared to Rs 11.66 billion for the quarter ended Sept. 30, 2011. Analysts had on an average estimated profit of Rs 11.47 billion.

Total income has gone up 19.60% to Rs 95.51 billion for the quarter ended Sept. 30, 2012 from Rs 79.86 billion in the year ago period.

Interest earned during the quarter ended Sept. 30, 2012 was at Rs 87.23 billion as compared to Rs 72.51 billion for the quarter ended Sept. 30, 2011, representing an increase of 20.29%.
 
Higher NPA provisioning (which rose fourfold year-on-year) led to lower earnings. While the margins were expected to decline further from the June quarter due to cut in base rate, the margins held up quite well for the bank. This was despite a lower credit-deposit ratio. 

Net NPA was at Rs 23.85 billion for the quarter ended Sept. 30, 2012, as compared to 11.19 billion for the quarter ended Sept. 30, 2011, representing an increase of 2.13 times.

Net NPA was at 0.82% for the quarter ended Sept. 30, 2012, as compared to 0.47% for the quarter ended Sept. 30, 2011.

The restructured loan proportion, on the other hand, rose 40 basis points to 6.7 per cent of the total loans. Even as the troubled segments such as small-scale industries and agriculture loans continued to deteriorate, the retail book of the bank also witnessed higher slippages.

Net Interest Income (NII) was at Rs 28.62 billion for the quarter ended Sept. 30, 2012.

Capital Adequacy Ratio (CAR) of the bank, was at 12.91% as on Sept. 30, 2012 as compared to 12.73% as on Sept. 30, 2011.

 

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