State-run lender Bank of Baroda's shares declined 3 percent on Wednesday after reports indicated that the bank under-reported bad loans by Rs 5,250 crore for the financial year 2019.

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At 12:11 pm, the stock was trading at Rs 99.50 per share, down 2.59 percent.

In an exchange filing on Tuesday, Bank of Baroda said that it reported gross non-performing assets for the year ended March 2019 at Rs 69,924 crore. However, it said that as per the Reserve Bank of India’s risk-assessment report, the gross NPAs stood at Rs 75,174 crore, resulting in gross NPA divergence of Rs 5,250 crore.

Net NPAs for FY19 reported by the bank were Rs 23,795 crore while the RBI assessed the net NPAs at Rs 29,045 crore. Divergence in net NPAs was Rs 5,250 crore.

Further, divergence in provisions for NPAs stood at Rs 4,090 crore.

The bank said that out of Rs 4,090 crores divergence in provision for NPAs, it has already made provision of Rs 1,475 crore during the current financial year. Hence the remaining impact is Rs 2,615 crore, it added.

First Published:Dec 18, 2019 12:21 PM IST