Tuesday, May 29, 2018

BOI's loss widens

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Bank of India has reported net loss to Rs 3,969 crore in the March quarter due to higher provisioning for mounting bad loans. It had reported a net loss of Rs 1,046 crore for the year-ago period.

 The gross non-performing assets hit 16.58 per cent of the gross advances, as against 13.22 per cent by end March 2017. Net NPAs rose to 8.26 per cent, as against 6.90 per cent. In absolute terms, the gross NPAs reached Rs 62,328 crore, sharply up from Rs 52,045 crore a year ago. 

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