Bank of Baroda on Friday reported a net loss of Rs 3,102 crore for the three months to March 2018, owing to a more-than-doubling of its provisions on an year-on-year basis to Rs 6,672 crore in Q4.
Net interest income (NII) — the difference between interest earned and interest expended — rose 11.7% y-o-y to Rs 4,002 crore. The bank’s asset quality deteriorated with the gross non-performing asset (NPA) ratio rising to 12.26% from 10.46% in March last year. The net NPAs rose 95 basis points (bps) on a sequential basis.
On an absolute basis, the gross bad loans rose 32% y-o-y to Rs 56,480 crore in the March quarter and net bad loans rose 30% y-o-y in the same period. Bank of Baroda’s capital adequacy ratio fell 11 bps y-o-y but rose 58 bps on a sequential basis. Its provision coverage ratio has also improved to 67.21% in Q4 FY18, up from 66.83% in March FY17.
The bank’s total advances grew 12.79% y-o-y to Rs 4.6 lakh crore, driven by retail loans, which grew 42.44% y-o-y.
BoB saw total deposits fall 1.7% on a y-o-y basis to Rs 5.91 lakh crore. Current account savings accounts (CASA) deposits grew 10.79% and the share of CASA deposits in total domestic deposits rose to 41.18% at the end of March from 39.44% a year ago.