State-owned Bank of Baroda (BoB) on Thursday said it reached an out-of-court settlement with NMC Health PLC, NMC Healthcare Ltd, and NMC Holding Ltd, with $600 million (about ₹5,700 crore) paid through its Abu Dhabi Branch.
The case involved proceedings under Abu Dhabi Global Market (ADGM) and UK insolvency regulations, and the UAE civil law in relation to NMC Health PLC, NMC Holding Ltd and NMC Healthcare Ltd, BoB said in a regulatory filing.
“NMC Health PLC, NMC Healthcare Ltd, NMC Holding Ltd, and their respective Joint Administrators, have resolved the claims between them and the Bank of Baroda in consideration for, inter alia, payment by Bank of Baroda of $600 million, pursuant to a settlement agreement,” it said.
All claims, causes of action, etc. between them have been resolved without admission of liability or wrongdoing, it said.
The settlement agreement and its terms otherwise remain confidential, it said, adding that the liability of the bank in these proceedings is limited to this sum.
“Pursuant to the settlement agreement, the ADGM proceedings have been discontinued. The English Proceedings are in the process of being discontinued,” it said.
Shares of BoB closed at ₹260.15, down 4.18 per cent on the BSE.
Meanwhile, in a separate filing, BoB said the bank registered a total credit growth of 17 per cent to ₹14.17 lakh crore in the first quarter of FY27.
The outstanding credit was ₹12.07 lakh crore at the end of the June quarter of the previous fiscal, it said.
The Mumbai-headquartered public sector lender reported a 14 per cent increase in total deposits to ₹16.3 lakh crore in the reporting quarter against ₹14.35 lakh crore at the end of the first quarter of the previous financial year.
As a result, the total business (total credit and deposits) of the bank registered an increase of 15 per cent to ₹30.5 lakh crore compared with ₹26.42 lakh crore at the end of June 30, 2025.
Published on July 2, 2026