Bank of Baroda posted a very dismal set of Q1F18 numbers, with a fall in profitability and in asset quality as well.  

Its net profit for the quarter fell 52% (YoY) at Rs.203 crore on a very tepid 1% growth in NII at Rs.3405 crore. Provisions for bad loans rose 18% (YoY) though declined 10% (QoQ) at Rs.2368 crore. What was worrisome was that its slippages rose from Rs.4077 crore to Rs.5200 crore (QoQ).

Asset quality deteriorated – Gross NPA rose 94 bps to 11.4% (QoQ) while Net NPA was up 45 bps to 5.17%.