Bank of Baroda posted a lower net profit sequentially at Rs 155 crore for the fourth quarter in FY17, down 38 percent from Rs 253 crore in the December quarter.
Bank's gross non-performing assets (NPAs) stood at Rs 42,720 crore, which is 10.46 percent of total loans, up from a year ago of RS 40,521 crore (9.99 percent) and lower from the previous quarter of Rs 42,642 crore (11.40 percent).
Throwing more light on the bank's quarterly performance, PS Jayakumar, MD & CEO, Bank of Baroda told CNBC-TV18 that going forward too they would look to reduce net NPAs.
Provisions towards the bad loans substantially fell to Rs 2,425 crore, down 50 percent from R 4,880 crore in Q4 FY16.
The bank saw a pickup in loan growth in March 2017, he said, adding that the bank expects retail loan book to grow at 20 percent and corporate loan book to growth at over 18 percent in FY18.
In FY17, the retail loan growth book stood at 17 percent.
He said the bank does not require capital for taking care of balance sheet challenges like NPAs etc.
For the full interview, watch video
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