Bank of India Q1 net at 845 crore

Mumbai: Bank of India on Monday reported over five-fold increase in its consolidated net profit for the April-June quarter at Rs 845.78 crore. During the corresponding period of the last fiscal (2019-20), the bank had reported a consolidated net profit of Rs 154.10 crore.

Total income of the bank during the period under review increased to Rs 12,022.48 crore from Rs 11,613.21 crore reported a year ago, Bank of India said. Percentage of gross NPA of the banks declined to 13.86 per cent during the quarter ended June of FY2020-21, from 16.44 per cent in the same quarter last of last fiscal.

The filing said that Covid-19 continues to spread across many countries and in India and the same has resulted in significant volatility and decline in the global and local economic activities.