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FinanceBank of Baroda Q1 net profit plunges 72% to ₹1,278 crore on NMC settlement cost
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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.
Source report
Updated - July 24, 2026 08:09 pm IST - Mumbai
The Hindu Bureau
Bank of Baroda (BoB) reported a 72% decline in net profit to ₹1,278 crore for the first quarter of the fiscal year, following a one-time cost of ₹5,700 crore incurred from an out-of-court settlement with the joint administrators of UAE-based NMC Health. The net profit in the corresponding period last year stood at ₹4,541 crore.
Despite the one-time charge, the lender posted a 9.5% increase in net interest income (NII) to ₹12,524 crore in the reporting quarter, compared with ₹11,435 crore in the same quarter a year ago.
Asset Quality
- Net Non-Performing Assets (NNPA): Declined by 10 basis points to 0.5% for the June quarter, down from 0.6% in the same quarter last year.
- Gross Non-Performing Assets (GNPA): Stood at 1.99%, compared with 2.24% in the first quarter of FY26.
Published - July 24, 2026 08:06 pm IST
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Bank of Baroda Q1 Net Profit Falls 72% to ₹1,278 Crore on NMC Settlement