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  1. Bank of India posts Q4 loss of 10.46 bln rupees

Bank of India posts Q4 loss of 10.46 bln rupees

Bank of India Ltd, the country's sixth-biggest lender by assets, reported a fourth-quarter net loss of 10.46 billion rupees ($162.08 million) as provisions for bad loans remained high.

By: | Published: May 22, 2017 3:13 PM
Net loss for the quarter ended March 31 narrowed from a loss of 35.87 billion rupees a year earlier, the Mumbai-based lender said in a statement on Monday. (Reuters)

Bank of India Ltd, the country’s sixth-biggest lender by assets, reported a fourth-quarter net loss of 10.46 billion rupees ($162.08 million) as provisions for bad loans remained high. Net loss for the quarter ended March 31 narrowed from a loss of 35.87 billion rupees a year earlier, the Mumbai-based lender said in a statement on Monday. (https://bit.ly/2rJJyGt) Analysts on average had expected a net profit of 602.3 million rupees, according to data compiled by Thomson Reuters.

Bad loans as a percentage of total loans rose to 13.22 percent at the end of March, compared with 13.38 percent in the preceding quarter, and 13.07 percent a year ago. Provisions for non-performing assets fell to 44.84 billion rupees from 54.42 billion rupees a year earlier, the bank said. Shares of the bank were trading down 2.9 percent by 0734 GMT on the National Stock Exchange.

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  1. Jahna Vi
    May 25, 2017 at 7:46 am
    With out knowing the difference between Bank of India (BOI) & State Bank of India (SBI), so called famous financial newspapers like Financial Express are running in India. Atleast it's now their time to wake-up.
    Reply
    1. Rohit Jha
      May 23, 2017 at 5:33 pm
      @financial express and reuters....dear dumb people...bank of india and state bank of india are two different banks existing in a country named india
      Reply
      1. R
        ram
        May 23, 2017 at 12:15 am
        Can't U F #!#@/ differentiate between Boi and SBI.
        Reply

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