Bank Of Baroda Q4 Review - Deferred Tax Asset Reversal Impact Profit; Business Outlook Improves: ICICI Direct
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ICICI Direct Report
Bank of Baroda reported good set of numbers on the operating front with some improvement in asset quality as well.
However, deferred tax asset impact due to shifting to new tax regime resulted into net loss during the quarter.
Net interest income was up 4.5% YoY but down 5% QoQ to Rs 7107 crore, mainly on account of interest reversals on non performing asset and interest on interest relief.
Global net interest margin declined ~5 basis points QoQ to 2.72%, while domestic margins declined ~23 basis points QoQ to 2.73%.
Net interest margins were impacted by 36 basis points due to reversals of interest.
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