Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, Mumbai, 25th July, 2026: State-owned Bank of Baroda (BoB) on Friday reported a 48 per cent decline in consolidated net profit to Rs 1,783 crore for the April-June quarter of FY27, primarily due to a Rs 5,680-crore payout made under an out-of-court settlement in the UAE-based NMC Group matter.
Speaking after the results, Managing Director and Chief Executive Officer Debadatta Chand said the decision to opt for an out-of-court settlement was commercially prudent and aimed at resolving a complex legal dispute that had been pending for several years in courts in Abu Dhabi, England and Wales.
Earlier, in a regulatory filing dated July 2, the bank had disclosed that it had reached a settlement with NMC Health PLC, NMC Healthcare Ltd, and NMC Holding Ltd. As part of the agreement, about USD 600 million (approximately Rs 5,700 crore) was paid through Bank of Baroda's Abu Dhabi branch.
The settlement-related charge weighed on the bank's quarterly earnings, although the move brings an end to a long-running international legal dispute involving the collapsed UAE-based healthcare group.