Bank of Baroda Q3 net down to Rs 111.78 cr

SBI December quarter net profit is seen at Rs2,059.4 crore according to a Bloomberg poll of 16 analysts

That coupled with lower trading income due to rising bond yields resulted in a net loss of 24.16 billion rupees for the three months ending December 31, compared with a restated net profit of 18.20 billion rupees a year earlier.

The bank saw its non-interest income decline by 29.75 per cent, from Rs 11,507 crore to Rs 8,084 crore, as net interest income plunged due to mark-to-market losses from its treasury operations.

Syndicate Bank today reported a net loss of Rs 869.77 crore for the December quarter of the current fiscal on higher provisioning for bad loans.

Among other parameters, the net interest margin improved to 2.72 per cent during the quarter from 2.31 per cent in the year-ago quarter.

"Going forward there is a lot of optimism", Kumar said, adding SBI aimed to limit the rise in bad loans and provisioning costs at 2 percent in 2018/19.

On a standalone basis, the bank reported a wider loss at Rs 2,416 crore.

Australia vs England T20 tri-series
The lanky left-armer snaffled a leading edge from the risky Alex Hales but had to run behind Dawid Malan at the non-strikers end. On-field umpire Gerard Abood gave a "soft signal" of out but on review his decision was overturned by third umpire Chris Brown.

Kumar exuded confidence that up to 3 of these accounts will be resolved before the close of the current fiscal, while the rest in the first list of 12 will happen in the June quarter.

Total deposits of the bank stood at Rs 5.73 lakh crore as on December 31, 2017 against Rs 5.89 lakh crore at the end of December 2016.

Bad loans at Indian banks have almost doubled in the past four years as an economic slowdown took its toll on the ability of companies to repay debt, exacerbated in the case of some banks which analysts said had expanded lending too fast. The Rs 20,000 crore infusion will reduce government stake by up to 4 percentage points, he said.

The overall capital adequacy ratio was at 12.68 per cent with the core tier-I at 10.30 per cent.

It said the growth in advances was fuelled on account of retail loan growth of 33.37 per cent and within retail loan, home loan grew by 44.33 per cent.

The bank's stock closed 0.31 per cent down at Rs 65.20 on BSE.

Related News:

  • DACA recipient: Kelly sounded like a bully with 'lazy' comment

    DACA recipient: Kelly sounded like a bully with 'lazy' comment

    We believe it's time for Trump to roll up his sleeves and work on an immigration deal. The government will run out of funding Thursday if negotiators can't strike a deal.
    'Mahabharat' over Modi's 'Ramayan' jibe at Renuka Chowdhury

    'Mahabharat' over Modi's 'Ramayan' jibe at Renuka Chowdhury

    Sharma said on December 23, 1946, Nehru moved the objectives resolution and for the first time used the word "republic". He was addressing a campaign rally in Sonamura Tripura .
    Who have been the Suffragettes? 100 years of votes for girls

    Who have been the Suffragettes? 100 years of votes for girls

    Bear in mind, the same bill abolished all property qualifications that were previously on men, extending the vote to all of them. Speaking in Manchester, Mrs May will say: "While there is much to celebrate, I worry that our public debate is coarsening".
  • 2 killed, 143 wounded as explosion hits mosque in Libya's Benghazi

    2 killed, 143 wounded as explosion hits mosque in Libya's Benghazi

    The explosion rattled near a mosque in the Libyan city of Benghazi , leaving eight people dead, city residents told Sputnik. The UN-backed unity government based in the capital has struggled to assert its authority outside western Libya.
    Apple AirPod Smokes, Then Blows Up

    Apple AirPod Smokes, Then Blows Up

    Who can forget the horror show that was Samsung's Galaxy Note 7? It's not the first time a popular product has gone up in flames. Even Colon isn't sure why the wireless AirPods blew up, and there have been no prior reports of exploding AirPods either.
    WhatsApp Payments UPI-Based Feature Arrives in India

    WhatsApp Payments UPI-Based Feature Arrives in India

    Luckily enough, some of the beta testers are able to notice a payment option in the attachment menu between Document and Gallery . Last month, WhatsApp had also launched its standalone business app , WhatsApp Business, globally.
  • Tyreke Evans Remains With Grizzlies As Trade Deadline Passes

    Tyreke Evans Remains With Grizzlies As Trade Deadline Passes

    Even though Lou Williams is no longer on the market, the Grizzlies apparently haven't been offered a first-round pick yet. According to Adrian Wojnarowski of ESPN , the Grizzlies are "consistently" refusing to discuss trades involving Gasol.
    France urges halt to air strikes, aid corridors in Syria

    France urges halt to air strikes, aid corridors in Syria

    Hundreds of children are in urgent need of medical evacuation, according to UNICEF Executive Director Henrietta Fore. More than 4,000 families live in basements and bunkers for fear of air strikes , according to Save the Children .
    Chuck Schumer Called For Military Parade In 2014

    Chuck Schumer Called For Military Parade In 2014

    She says Trump wants the Pentagon to "explore a celebration" that would allow Americans to show appreciation for the military. The context of Trump's parade will make it little more than an exercise in authoritarianism and wastefulness.
  • GBPUSD Surges on Hawkish Bank of England

    GBPUSD Surges on Hawkish Bank of England

    Any indication that an interest rate hike may not be coming early this year could trigger a brief GBP/AUD exchange rate dip. Though the anticipated growth level is modest in historical terms, it is expected to push up inflation gradually.
    Scientists Grow Human Eggs Ready To Be Fertilized

    Scientists Grow Human Eggs Ready To Be Fertilized

    Scientists have previously developed mouse eggs to produce live offspring and matured human eggs from a late stage of development. This exact balance that leads to maturity of the eggs within a females body had hitherto never been replicated in the laboratory.
    Toronto police find remains of 6 people in Bruce McArthur case

    Toronto police find remains of 6 people in Bruce McArthur case

    The victims were known to be part of Toronto's gay village, in the neighbourhood of Church and Wellesley streets. Police say they will now re-examine hundreds of missing persons cases that could be linked to McArthur.

Most liked

Suspect In NFL Player's Death Has Bay Area DUI, Was Deported Twice
Tragedy has struck the Colts and Jackson's death will forever be remembered in the hearts of the fans and the organization. Orrego-Savala's truck drove onto the emergency shoulder and hit the rear of the vehicle that struck Jackson and Monroe.

Leak of Stale iOS Source Code Could Trigger Fresh Problems
Again, the typical iPhone user is probably not in any danger, thanks to Apple's recent security upgrades on their devices. As Motherboard first reported, the " iBoot " code is used to load Apple's iOS when users push the sleep/wake button.

2 deputies, 1 police officer shot in Georgia
McBrayer said one deputy was in serious condition and undergoing surgery, and had been hit below the bullet-proof vest. Juankeena Rodgers, 36, lives in the subdivision however police weren't enabling her to backpedal home.

New iOS 11.3 Feature Slow Down Your Processors - Turn It Off!
Rumors have been swarming that Apple plans on discontinuing its latest and most talked about smartphone device - the iPhone X . The company apologised and lowered the price of battery replacements for affected models from $79 to $29 (Rs. 2,000 in India).

Egypt targets terrorists in 'Sinai 2018' military operation
Egypt has been fighting extremist insurgency in northern Sinai since the army overthrew then-President Mohamed Mursi in 2013. In a later update, he said the air force had targeted a number of homes and hideouts in the north and west of the Sinai.

Celebrate National Pizza Day with deals and freebies
Little Caesar's: An extra pepperoni and cheese pizza goes for $1 when upgrading to " EXTRAMOSTBESTTEST " at participating stores. Before you order, consider this: A study from food delivery provider Foodler determined the most popular pizza toppings.

Jobless Rate Down, Labour Participation Rate Up In Windsor
Victoria saw an unemployment increase for the second consecutive month at 3.9 per cent from 3.5. Wage growth also received a boost in January, a month that saw Ontario lift its minimum wage.

Qualcomm rejects Broadcom's 'best and final' takeover bid
Qualcomm has countered that it expects to win in court over time and overturn some of the more than $4 billion it has been fined. Qualcomm said it needs Broadcom to be clear about what actions it would refuse to take, so it can evaluate the risk.

Indian journalist among two scribes detained in Maldives
On Monday, emergency was declared in Maldives by President Abdulla Yameen after the Supreme Court ordered the release of opposition leaders.

Scott Disick Had No Idea Kim Kardashian Was Having a Third Kid
Khloe has been very interactive with her fans, often answering questions as she shares photos throughout her pregnancy. Scott: "Are you being serious?" "I don't know what's going on anymore", he says.

Cavs acquire Rodney Hood and George Hill in 3 team trade
After a whirlwind of activity by the Cavaliers today, Rose found himself traded to the Utah Jazz as part of a three-way deal. He played the 2016-2017 season with the Knicks before heading to Cleveland.

Several Eagles will skip White House visit if invited
Wide receiver Torrey Smith , defensive end Chris Long and safety Malcolm Jenkins , NJ reported. Birk explained that his absence was due to his opposition to Obama's pro-choice policies.

Cleveland Cavaliers trade Dwyane Wade to Miami Heat
There was a lot of excitement surrounding the idea the banana boat brothers would be back on the same team this season. Wade played from 2003 to 2016 in Miami, playing the 2016-2017 season in Chicago and this past season in Cleveland .

Patchell under fire as Jones ramps up pre-match hype
With such a fast and furious backline it can't be expected that Wales will do anything different than the Scottish game. He's a young guy, he's inexperienced and he's their third choice 10.

Tata Motors showcases its electric future
To that end, India needs solid competency in the manufacturing of electric vehicles like South Korea and China, added Butschek. Kia has thus far failed to make forays into the Indian market due to tariffs of up to 60 percent imposed on imported autos.