Page 10 - Bank Of India

BOI posts net loss of Rs 11.56 bn as against net profit of Rs 1.79 bn in Q2

The Reserve Bank of India in December 2018 put BOI under the prompt corrective action (PCA) framework, allowing it to take decisions to keep the the state-owned lender steady.

SBI invites bids for the sale of its stake in three associate companies

The bank's gross non-performing assets stood at 16.66%, while net NPA was at 8.45%

Bank of India puts on sale 50 corporate NPAs with Rs 55.57 bn outstanding

The aim is to conclude the sale before the end of September to get the benefit of reduction in NPAs and better recoveries in the second quarter

Bank of India to offer 100 million fresh equity shares to employees

Shares of the bank closed 8.75 per cent down at Rs 94.35 apiece on BSE

Bank of India Q1 profit up 8% to Rs 951 mn, but income falls to 108 bn

A rise in bad loans led to a higher amount to be parked for provisioning for bad loans at Rs 22.6 billion

CBI arrests two retired Bank of India officials in Rs 26.5-bn fraud

V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to DPIL in granting credit limits

Q4 results: Pain not yet over for Bank of India, stock falls 5.8%

No clarity on stress, weak capital affect earnings visibility

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