Story · India
Bank of Baroda Q1 Net Profit Falls 72% to ₹1,278 Crore on NMC Settlement
Bank of Baroda reported a 72% drop in net profit for the first quarter of fiscal year 2026-27, falling to ₹1,278 crore from ₹4,541 crore in the same period last year. The sharp decline was driven by a one-time cost of ₹5,700 crore incurred from an out-of-court settlement with the joint administrators of UAE-based NMC Health. Despite this, the bank's net interest income grew 9.5% year-on-year to ₹12,524 crore. Asset quality improved, with net non-performing assets (NNPA) declining 10 basis points to 0.5% and gross NPAs falling to 1.99% from 2.24% a year earlier. The settlement relates to the bank's exposure to the troubled NMC Health group.
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