Bank of Baroda (BoB), country’s public sector lender is planning to rebalance its international portfolio, in order to improve profitability of its overseas operations. At present state run bank has 98 outlets in different countries, accounting for about 25% of the bank’s profits in a financial year. The bank aims to increase the share of its international operations to overall profit of the bank to 30%.
The bank’s net for the third quarter ended December 31, 2012 slipped by 21.58% at Rs 1011.62 crore as against Rs 1289.85 crore for the quarter ended December 31, 2011. Bank’s total income has increased by 9.80% to Rs 9685.51 crore for the quarter under review from Rs 8821.32 crore for Q3FY12.