Saturday, 12 August 2017

Bank Of Baroda Aims To Sell Non-Core Assets Worth Rs 2,000 Crore This Year

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State-owned lender Bank of Baroda to look at selling some of its non-core assets of about Rs 2000 crore during the financial year 2018 as a part of its capital raising plan.

"We continue to focus on selling our holdings in our subsidiaries or joint ventures, it is about Rs 2000 crore there… cannot predict the timing of it. One of our investments is due for listing this year. We are hoping to exit some of our investments depending on the IPO listing and other processes. But we have been assured it would happen during the course of the year,” said PS Jayakumar in the post results announcement conference.

The government-owned bank set aside higher provisioning of Rs 2,156 crore for June quarter of 2018, as against Rs 1,986 crore in April-June 2016-17. It also made provision at 20 percent towards secured sub-standard advances as against the regulatory requirement of 15 percent.

Bank of Baroda's gross non-performing assets (NPAs) or bad loans rose to Rs 46,172 crore as on June 30, 2017, up from Rs 42,991 crore as on end-June 2016. Percentage wise, gross NPA ratio increased a tad to 11.40 percent of gross advances, as against 11.15 percent a year ago.

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