Page 5 - Bank Of India

Bank of India to seek shareholders' nod for raising up to Rs 16,000 cr

State-run Bank of India (BOI) on Wednesday said it plans to raise up to Rs 16,000 crore through issuance of shares and bonds. It will seek shareholders' approval at its Extraordinary General Meeting (EGM) on September 19, the lender said in a regulatory filing. The bank said it plans to issue fresh equity shares up to an amount of Rs 8,000 crore in such a way that the government's shareholding does not fall below 51 per cent. It will also seek approval for issuing perpetual debt instruments, including non-convertible debentures (NCDs), for an amount not exceeding Rs 8,000 crore. It said the allotment of securities shall be through qualified institutional placement (QIP), public issue, rights issue, private placement or such other mode of issue, with or without over-allotment option. Explaining the rationale behind the proposed fund mop-up, it said the Indian banking system has been implementing Basel III guidelines since April 2013 in a phased manner and the norms are to be fully

BOI Q1FY21 pre-tax profit up 271% to Rs 1,332 cr on higher other income

Lower provisions support the better Q1 show; net profit up almost 3.5x to Rs 843 cr

Bank of India Q1 net profit rises three-fold to Rs 844 cr as bad loans ease

The total income during the period under review increased to Rs 11,941.52 crore, from Rs 11,526.95 crore in the year-ago period

Bank of India directors to consider raising funds on August 3, shares surge

Shares of the bank surged after the announcement. At 12.05 p.m., its shares on the BSE were trading at Rs 47.20, higher by 3.17 per cent from the previous close

BOI Q4 pre-tax loss at Rs 5,489.3 cr on spike in provisions, drop in NII

Lender had posted pre-tax profit of Rs 405.7 cr in same quarter of 2018-19; plans to raise Rs 2,000 cr capital in Q3FY21

Bank of India posts net loss of Rs 3,571 crore for Q4 over bad loans

The bank clocked a profit of Rs 251.79 crore in January-March 2018-19. In December quarter also, there was a profit of Rs 105.52 crore.

Market Ahead, June 25: Top factors that could guide markets today

A total of 147 companies, including Apollo Hospitals, Ashok Leyland, and Bank of India are scheduled to announce their quarterly results today

Punjab National Bank reduces lending rate linked to repo by 40 bps

The bank's marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.

RBI imposes penalties on three banks for non-compliance of norms

Bank of India suffers Rs 5 cr fine, Karnataka, Saraswat hit with Rs 1.2 cr and Rs 30 lakh penalty

Bank of India engages Uniken to secure internet, mobile banking channels

A recent report put the number of card and net banking frauds at 1,367 in FY17, about 2,127 in FY18, and 1,477 in FY19

Rush hour and tougher questions ahead for both Mint Road and banks

Piecemeal regulatory forbearance will not go far and tougher questions will be asked of both Mint Road and banks, reports Raghu Mohan

Banks extending emergency loans to salaried, entrepreneurs after rate cut

However, most are extending it to their existing customers only

Bank of India posts Q3 PBT of Rs 119 cr after Rs 6,700 cr loss a year ago

Net interest income up 24% to Rs 4,118 cr; GNPAs at same level as last year

New MD and CEOs for Bank of Baroda, Bank of India and Canara Bank

The government has appointed Sanjiv Chadha as the new managing director and chief executive of Bank of Baroda

Bank of India eyes Rs 10,000 cr loan sales in ongoing special drive

The outreach programme is being conducted in 54 zones, comprising 5,000 branches

Bank of India to raise up to Rs 10,000 cr through bonds, preference shares

The state-owned lender said the board approved issuance of up to 125 crore fresh equity shares through qualified institutions placement, public issue, rights issue

Bank of India, IOB report divergences in bad loans; losses widen for FY19

Bank of India had a fall in its net NPA divergence by Rs 329 crore for 2018-19

Banks Board Bureau recommends BoB's Sanjiv Chadha for the post of MD & CEO

The bureau has also suggested the names of L V Prabhakar and Atanu Kumar Das for Canara Bank Bank of India chiefs, respectively

Banks to sell Manohar Joshi's trust land in Mumbai over loan default

It owes Rs 15.82 crore to Bank of Maharashtra, Rs 38.63 crore to State Bank and Rs 13.18 crore to Bank of India.

Bank of India reports profit before tax of Rs 400 crore in Sept quarter

Net profit stood at Rs 266.4 crore compared to a loss of Rs 1,156.3 crore in Q2 of 2018-19.