On Saturday, the State-owned lender Bank of Baroda reported a net loss of Rs 1,046 crore for the March quarter (Q4FY21). It has registered a profit of Rs 506.6 crore in the same period in 2020 (Q4FY20).
BoB’s net interest income (NII) has increased from 4.5 percent to Rs 7,107 crore for the fourth quarter compared to Rs 6,798.2 crore in the year earlier.
The lender has added that its board has approved raising additional capital to Rs 5,000 crore, comprising Rs 2,000 crore of Common Equity Capital. It will be increased by various modes, including QIP, etc., in suitable stages and Rs 3000 crore by way of Additional Tier I capital/Tier II capital instruments.
The bank’s gross non-performing assets (NPAs) rose sequentially to 8.87 percent in Q4FY21. In Q3FY21, gross NPAs of the bank were at 8.48 percent. Meanwhile, net NPAs stood at 3.09 percent.
The bank has stopped short of declaring any dividend for the financial year 2020-21. On Friday, BoB’s scrip rose marginally (0.36 percent) to settle at Rs 83.85 on NSE.