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Bank of India posts Rs 266 crore profit
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.
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.
