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Bank of Baroda registers Q1 net loss at Rs. 864 cr Bank of Baroda
WIKIMEDIA COMMONS

Bank of Baroda registers Q1 net loss at Rs. 864 cr

India Blooms News Service | @indiablooms | 10 Aug 2020, 06:52 pm

Baroda: State-owned Bank of Baroda registered a net loss of  Rs. 64.26 crore for the June quarter of 2020-21 financial year.

"On account of provisioning on standard accounts of INR 1,811 crore, Bank reported a Net Loss of INR 864 crore in Q1FY’21 and Consolidated Net Loss stood at INR 679 crore," the bank said in a statement.

The bank said: "Operating Profit for Q1FY’21 is INR 4,320 crore. NII increased by 4.93% YoY to Rs 6,816 crore. Within the non-interest earnings, Trading gains up by 60.06% YoY."

"Domestic CASA ratio increased to 39.49%, higher by 294bps YoY. Retail term deposits increased by 10.4% YoY. Cost of deposits in Q1FY’21 is lower by 53 bps YoY at 4.95%," it said.

The Bank said it has co-located 771 branches and 113 ATMs as of Jun’20.

"IT integration to be complete by Mar’21," the Bank said.