Page 7 - Bank Of India

Bank of India Q4 loss triples to Rs 40 billion on bad debt provisioning

The government-owned entity's net loss was Rs 39.7 billion; it was nearly Rs 10.5 billion in January-March 2017

BOI roping in HR consultancy outfit to develop leadership talent pool

State Bank of India and IDBI Bank have already appointed advisors for HR revamp

Bank of India: Rs 70-bn NPA recovery may not move the needle much in Q4

Shares of Bank of India, which are down a third since the fraud at Punjab National Bank was reported (February 14), an event that hit other public sector banks (PSBs) too, surged 15 per cent before closing 7.4 per cent up on Tuesday. Reports of the bank recovering non-performing assets (NPAs) worth Rs 70 billion was the key reason for this surge. "We (BOI) have recovered around Rs 70 billion, which will reflect in January-March 2018 quarter (Q4) performance," the bank's MD and CEO, Dinabandhu Mohapatra, said to a television channel. A mail sent to BOI did not elicit any response. However, Mohapatra said the bank hopes to recover another Rs 20-30 billion of NPAs in a few months. While this is good news for a bank weighed down by bad loans (net NPA at over 10 per cent of advances in Q3) and should reflect positively in Q4, its overall earnings may not improve significantly, say analysts. Firstly, the new NPA rules introduced by the Reserve Bank of India (RBI) on February 12 will ...

Bank of India gains 11% on reports of Rs 70-billion recovery worth SLOCs

The stock gained 11% to Rs 105 on the BSE in early morning trade on reports of the state-owned bank recovered Rs 70-billion worth Standby Letters of Credit (SLOCs) in the last two months.

Bank of India postpones Rs 30-bn QIP plan after govt nod to infuse capital

The bank expects to be out of RBI's watchlist soon as it has put in place an aggressive bad loan recovery strategy

BoI to be out of RBI watch list soon as bad loan recovery picks up: MD

Downgrading of accounts impacted the profitability as well as non-performing asset (NPA) position of the bank retrospectively

Bank of India receives capital infusion worth Rs 2,257 cr from govt

The infusion is in terms of the Ministry of Finance, Department of Financial Services, Government of India

RBI action to impact growth of Bank of India

Though gross non-performing assets ratio has been declining in recent quarters, it is still one of the highest among peers

BoI to shut 400 ATMs, 300 more under review

At the end of September, Bank of India's gross NPAs stood at 12.62%

Why RBI has placed Bank of India under prompt corrective action

The action would mean the Mumbai-based lender would face restrictions on lending activity

RBI begins prompt corrective action against Bank of India; shares dip 5%

BoI had a net non-performing assets ratio of 6.47% as of end-September

Bank of India falls 5% as RBI puts bank under Prompt Correction Framework

Bank of India said this action will contribute to the overall improvement in risk management, asset quality, profitability, efficiency, etc of the Bank

Bank of India to seek new bids for STCI Finance stake

STCI Finance is one of BoI's non-core investments which it has decided to monetise for raising resources

Bank of India Q2 net profit rises 41% to Rs 179 cr

The bank had net profit of Rs 126.84 cr in July-Sept of previous fiscal year

BOI, United Bank to raise up to Rs 1,500 crore via bonds

Both banks are facing elevated pressure on asset quality and profitability

Bank of India cuts lending rates by 0.05-0.10% from Sept 10

Banks had adopted MCLR from April 2016 following the directive of Reserve Bank of India

Bank of India puts bad loans worth Rs 3,169 crore on sale

The sale comprises 67 accounts with a principal balance of about Rs 3,169.08 crore

Bank of India gains 6% as assets quality improves in Q1

The stock was up 6% to Rs 163, bouncing back 9% from its early morning low of Rs 149 on BSE

Bank of India swings from loss to profit in Q1, bad loans fall

The Mumbai-based bank net profit was Rs 87.71 crore in the quarter ended June 30

Bank of India to raise up to Rs 626 crore via STCIF stake sale

The bank has called a pre-bid meeting on August 14 and the final bids are to be sent in by 3 pm on