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

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.