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Bank of Baroda's Q3 result posts highest ever net loss at Rs 3,342 crore

BI India BureauFeb 13, 2016, 15:40 IST

Public sector lender Bank of Baroda on Saturday announced a net loss of Rs 3,342 crore for the December quarter against a Rs 332 crore profit last year on account of an almost 5 times increase in provisions.

The provisions against bad loans or loans where repayment has not happened on time have jumped to Rs 6,164 crore against Rs 1,262 last year.

The gross NPA percentage for the bank rose to 9.68 per cent from 3.85 per cent last year showing a severe rise in the stress on the bank's financial assets.

Image credit: Indiatimes