Bank of Baroda Q1 profit drops 72% amid cyber incident
after close1 source ↓written by the desknot a recommendation
- 71.85% YoY
- impacted
- ₹5,680.23 crore legal settlement
- Interest income grew
- 6.82% YoY
- ₹33,211 crore
Bank of Baroda reported a Q1 net profit of ₹1,278.39 crore, down 71.85% YoY, significantly impacted by a ₹5,680.23 crore legal settlement. Interest income grew 6.82% YoY to ₹33,211 crore, but net interest margins faced pressure. Additionally, the bank is investigating a cybersecurity incident involving unauthorized data access linked to an employee's email account.
Not investment advice. For informational purposes only.