UCO Bank loss widens to Rs 1016.43 cr in Q3

Bank of Baroda Q3 profit sinks 56% as provisions for bad loans nearly double

Bank of Baroda Q3 profit sinks 56% as provisions for bad loans nearly double

Public sector lender Bank of Baroda said profit in third quarter fell sharply by 56 percent to Rs 111.8 crore, dented by higher provisions but supported by net interest income and operating income.

Higher provisioning for bad loans has pushed state-run Andhra Bank on Thursday deeper into the red in the third quarter ended December 31, 2017, with losses of Rs 532 crore as compared to losses of Rs 385.11 for the second quarter of FY18.

The provisioning for bad loans and contingencies was at Rs 3,427.03 crore during the quarter, slightly down from Rs 1,486 crore a year ago.

The Kolkata-based bank's asset quality worsened further in the December quarter against previous year.


Bank's asset quality deteriorated with gross non- performing assets (NPAs) hitting 20.64% of the gross advances by end-December 2017 against 17.18% by end-December 2016.

Gross bad loans as a percentage of total loans stood at 10.35% at end-December, compared with 9.83% in the previous quarter.

The bank raised Rs 1,500 crore Basel-III compliant bonds during the third quarter to augment its capital base.

The bank's stock closed 0.31 per cent down at Rs 65.20 on BSE. The bank's net interest income, however, increased 37% to Rs 1672 crore during Q3FY18 from Rs 1218 crore in Q3FY17. Both its retail banking and wholesale banking operation suffered losses while treasury profit was 45% down at Rs 461.4 crore. The board of the bank on Friday made a decision to consider further preferential allotment of shares to the government amounting to Rs 5,132 crore.

Recommended News

  • Dow Jones Drops More Than 1000 Points

    Dow Jones Drops More Than 1000 Points

    European shares closed down more than 2 per cent, and losses for the MSCI 47-country world index broke $US4 trillion. Experts do think the global economy will keep growing this year even though that is likely to bring more inflation.
    North Korean leader's sister arrives in South Korea

    North Korean leader's sister arrives in South Korea

    But dozens of Russian athletes who had hoped to compete under the neutral flag were deemed ineligible by the world Olympic body. A Keremeos massage therapist is already in South Korea working to keep Canadian athletes competing in top form.
    Jeremy Hunt finally says sorry as NHS patients suffer 'worst ever' winter

    Jeremy Hunt finally says sorry as NHS patients suffer 'worst ever' winter

    But Professor John Appleby, chief economist at the Nuffield Trust think-tank, said the health service was "creaking at the seams". All of the four hospital trusts in Kent failed to see 95% of A&E patients within four hours of them arriving in January.
  • Kemba Walker Reportedly Replaces Kristaps Porzingis in 2018 NBA All-Star Game

    Kemba Walker Reportedly Replaces Kristaps Porzingis in 2018 NBA All-Star Game

    Walker became Charlotte's all-time leader in 3-point field goals on February 4, surpassing the previous high of 929 by Dell Curry. However, the Hornets' record ( 23-30) probably worked against him when the Eastern Conference coaches picked seven reserves.
    YouTube Pulled Ads From Logan Paul's Videos After He Tasered Dead Rats

    YouTube Pulled Ads From Logan Paul's Videos After He Tasered Dead Rats

    This caused Paul to take a month break from vlogging, returning with a full apology video before resuming regular content. YouTube said it made a decision to pull ads after a "recent pattern of behaviour" but didn't point to a specific video.
    White House praises Senate budget deal

    White House praises Senate budget deal

    The US government has shut down for the second time this year after Congress failed to reach a deal on the budget. Senate leaders remained confident the spending deal would pass easily in the end.
  • Active Volume Stock: Royal Dutch Shell plc (NYSE:RDS-A)

    A reading from -80 to -100 would signal an oversold situation. $69.25's average target is 7.10% above currents $64.66 stock price. The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending.
    Ghanaians mourn rising female artiste killed in gory road crash

    Ghanaians mourn rising female artiste killed in gory road crash

    Fellow artists, fans and supporters have been sharing their condolences on social media. "Rest Well Ebony Reigns! ". The driver of the Jeep survived the crash, but is now unconscious and receiving treatment, according to police.
    Viacom, Inc. (NASDAQ:VIAB)

    Viacom, Inc. (NASDAQ:VIAB)

    Zacks Investment Research downgraded Viacom from a "hold" rating to a "sell" rating in a report on Friday, February 2nd. PRICE T ROWE ASSOCIATES INC /MD/ also announced increased position in Mastercard Incorporated (MA) during the quarter.
  • English players are masters of diving - Wenger

    English players are masters of diving - Wenger

    Six have been awarded against them this season - and six have been scored - on top of 16 last season, of which 14 were scored. In Accuscore simulations the hosts manage to score a hefty 2.31 goals on average, while visiting Arsenal scores 1.34 goals.
    Bipartisan budget deal passes early morning Senate vote, moves to House

    Bipartisan budget deal passes early morning Senate vote, moves to House

    Really who is to blame? The delay gave Paul a chance to speak his peace, but it was not expected to block the bill in the Senate. Members of the conservative House Freedom Caucus already announced that their roughly 30 members will vote against the pact.
    Snow Causing Mess On Roads, Flight Cancellations In Metro Detroit

    Snow Causing Mess On Roads, Flight Cancellations In Metro Detroit

    The snow is coming down at a pretty good clip and with temps in the teens early, the snow is sticking to the streets. Eight inches was reported in parts of northern IL and up to about 6 inches was reported the Chicago area.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.