1. Bank of India shares jump over 10 per cent on stable asset quality

Bank of India shares jump over 10 per cent on stable asset quality

Bank of India Q1 results: Percentage of gross non-performing assets of the banking stood at 13.4 per cent against 13.1 per cent in the sequential quarter ended March 31, 2016.

By: | Updated: August 12, 2016 3:14 PM

Bank of India

Bank of India Q1 results: Percentage of gross non-performing assets of the banking stood at 13.4 per cent against 13.1 per cent in the sequential quarter ended March 31, 2016.

Bank of India shares jumped over 10 per cent on Friday after the company reported stable asset quality for the quarter ended June 30, 2016. Percentage of gross non-performing assets of the banking stood at 13.4 per cent against 13.1 per cent in the sequential quarter ended March 31, 2016. Percentage of net non-performing assets remained constant at 7.8 per cent. The bank reported a net loss of Rs 741.36 crore for the quarter ended June 30, 2016 as compared to a net profit of Rs 129.72 crore for the same quarter in the previous year. Total income of the bank declined by 6.15 per cent to Rs 10664.36 crore for the quarter under review from Rs 11659.16 crore for the corresponding quarter of the previous year.

At 2.52 pm, share price of the cpmpany was trading 8.12 per cent down at Rs 111.80. The scrip opened at Rs 102.60 and touhced a high and low of Rs 114.45 and Rs 101.40, respectively, in trade so far. Sensex was trading 306.34 points up at 28,165.94.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 13.38 per cent, as compared to 6.80 per cent in the same quarter of the previous year.

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