Bank of Baroda’s rising NPAs may force it to sell assets
By DSIJ Team |
8/12/2017 1:07 PM Saturday
With its gross non-performing assets (NPAs) increasing to Rs 46,172 crore as on June 30, 2017, Bank of Baroda is likely to sell some of its non-core assets valued at about Rs 2,000 crore during FY18. The NPAs have increased from Rs 42,991 crore as of June 2016. In terms of percentile, the gross NPA ratio rose to 11.40% of gross advances as against 11.15% last year.
Taking refuge in the insolvency process, the bank may file 26 accounts with the National Company Law Tribunal (NCLT). Meanwhile, its Q1FY18 results revealed the NII for the quarter to be 3.3% lower than the estimated figure of Rs 3,520 crore. The net profit was lower by 55.7% lower than the estimated figure of Rs 459 crore. Its ROA was at 0.12% and CAR at 11.81% for the quarter end.
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