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Bank of Baroda slumps after settling NMC Health litigation for $600 million

02-Jul-26 15:43 Hrs IST

The settlement resolves litigation arising from insolvency and civil proceedings before the Abu Dhabi Global Market (ADGM) Court and the High Court of Justice of England & Wales.

Under the agreement, the bank will pay $600 million (approximately Rs 5,700 crore) through its Abu Dhabi branch.

The bank stated that the settlement has been reached without any admission of liability or wrongdoing. It also clarified that its liability in the proceedings is limited to the agreed settlement amount.

Following the settlement, the ADGM proceedings have been discontinued. The UK proceedings are currently in the process of being discontinued.

The resolution removes a long-standing legal overhang linked to the collapse of NMC Health in 2020 and provides greater certainty by avoiding prolonged litigation, legal costs and associated uncertainties.

In a separate filing made during market hours today, Bank of Baroda has reported 15.46% rise in global business to Rs 30,51,218 crore as on 30 June 2026 from Rs 26,42,690 crore as on 30 June 2025.

The bank's global and domestic deposits were Rs 16,33,846 crore (up 13.81%) and Rs 13,81,822 crore (up 14.74%), respectively, at the end of June 2026 quarter.

While global advances increased by 17.42% YoY to Rs 14,17,372 crore, domestic advances jumped 16.14% to Rs 11,51,383 crore in Q1 FY26.

Domestic retail advances as on 30 June 2026 stood at Rs 3,09,725 crore, up 18.45% YoY.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services, and treasury services.

The bank has reported a 4.4% rise in standalone net profit to Rs 5,442.92 crore on a 6% increase in total income to Rs 39,999 crore in Q3 FY26 over Q3 FY25.

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