Public sector lender Bank of Baroda (BoB) is looking for an Rs 1,800-crore capital infusion from the central government. This capital infusion will be through the preferential allotment of shares. At present, the government has a stake of 55.4% in the bank, with headroom to bring it down to 51%.
The bank has reported a rise of 2.55% in its net profit at Rs 1167.87 crore for the quarter, as compared to Rs 1138.86 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 14.89% to Rs 10717.49 crore for the quarter under review as compared to Rs 9328.41 crore for the quarter ended June 30, 2012.