Bank of India posts Rs 266 crore profit

New Delhi: State-owned Bank of India (BoI) on Friday reported a net profit of Rs 266.37 crore for the second quarter ending September 30, due to a decline in provisions for bad loans.

The bank had posted a loss of Rs 1,156.25 crore in the July-September quarter last fiscal.

Total income of the bank rose to Rs 11,985.50 crore during the second quarter, from Rs 10,800.24 crore in the same period of 2018-19, according to a regulatory filing by Bank of India.

Provisions towards bad loans halved to Rs 1,452.09 crore in the July-September quarter from Rs 3,343.27 crore in the year-ago quarter.

Its gross non-performing assets (NPAs) moderated to 16.31 per cent of gross advances by September-end 2019, as against 16.36 per cent on September 30, 2018.