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5 months ago
BUZZ-India's Bank of Baroda falls on profit miss, asset quality deterioration
February 13, 2017 / 4:33 AM / 5 months ago

BUZZ-India's Bank of Baroda falls on profit miss, asset quality deterioration

1 Min Read

** Bank of Baroda falls as much as 7.2 pct in its biggest loss since Nov 21, 2016

** Shares of India's second-biggest state-run lender hit their lowest since Feb 2

** Bank posts a lower-than-expected Q3 profit on Friday

** Bad loan additions inch up in Dec qtr, while overall stress portfolio rises to 12.3 pct

** "Loan growth remains weak," analysts at Jefferies write, adding that the downside risks to the stock are asset quality deterioration, net interest margin compression and growth slowdown

** As of Friday's close, stock had risen about 23 pct so far this year

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