Bank of Baroda watches a Q1 profit of Rs 1,209 crore

State Bank of Baroda (BoB) on Saturday reported an independent profit of Rs 1,208.63 crore during the quarter ended June 2021, helped by declining bad lending.

The bank had reported a net loss of Rs 864 crore in that quarter last year.
Total revenue was modeled at an estimated Rs 20,022.42 crore from Rs 20,312.44 crore in the last quarter, the BoB said in a regulatory filing.

The bank’s asset level has improved through non-performing assets (NPAs) down to 8.86 percent of major developments on June 30, 2021, from 9.39 percent at the end of June 2020.

However, the NPA figure has fluctuated to 3.03% from 2.83 percent as of June 30, 2020, the bank said.
As a result, total supply and quarterly emergencies dropped to Rs 4,111.99 crore from Rs 5,628 crore last year.

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The supply chain includes float supply stands at 83.14 per cent from June 30, 2021.
A fine of Rs 41.75 lakh was withdrawn from the bank by the Reserve Bank of India for the quarter ending June 30, 2021, it said.
According to the Reserve Bank of India (RBI), the bank has opted to provide a fraudulent loan for four kilometers, it said.

Therefore, the continuation provision from June 30, 2021 is Rs 349.45 crore which will be charged in the following areas by the bank, it said.

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