Bank of Baroda reported another set of dismal numbers for the quarter ending March 31, 2016 as bad loans mounted and provisions increased.
The net loss for the quarter stood at Rs 3230 crores. Gross NPAs of the bank was near 10 per cent, while the net NPA of the bank stood at Rs 5.06 per cent.
Commenting on the bank's performance, PS Jayakumar, Managing Director & CEO said, "The year 2015-16 has been one of transformation addressing NPAs. We are excited by the transformation journey we have embarked on, which will give us leadership position in the banking and financial services sector."
The shares of Bank of Baroda are likely to decline further when it opens for trading on Monday. The shares last closed at Rs 155 on the National Stock Exchange.