Public sector Bank of Baroda (BoB) posted a net profit of Rs 1,208.63 crore for the first quarter ended June 30, 2011. Due to this, the bank has reported a net profit of Rs. 864 crore net loss. The bank’s return is good because there is little chance of bad loans.
Its total income for the quarter was Rs. 20,312.44 crore to Rs. 20,022.42 crore, the bank said. The Bank’s total non-performing assets (NPA) on total debt declined to 8.86% during the quarter. It was 9.39 per cent in the same quarter a year ago.
The good news is that Anil Ambani, who is in a debt swirl, has lost his company
However, the bank’s net NPA ratio increased from 2.83% to 3.03%. Total provisions and other uncertainties of the bank declined to Rs 4,111.99 crore during the quarter. 5,628 crore in the same quarter a year ago. During the quarter, the Reserve Bank of India imposed a fine of Rs 41.75 lakh on Bank of Baroda.
