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Bank of India swings from loss to profit in Q1, bad loans fall

The Mumbai-based bank net profit was Rs 87.71 crore in the quarter ended June 30

Reuters 

Bank of India (BOI), the country's sixth biggest lender by assets, reported a first-quarter profit as its bad loan ratio narrowed and loan-loss provisions fell. Net profit was Rs 87.71 crore in the quarter ended June 30, compared with a loss of Rs 741 crore a year earlier, the Mumbai-based bank said on Wednesday. Analysts on average had expected a net loss of Rs 15.38 crore, according to Thomson Reuters data. Gross bad loans as a percentage of total loans fell to 13.05% at end-June from 13.22% at March-end and 13.38% at end-June last year. BOI shares jumped more than ...

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First Published: Wed, August 09 2017. 13:40 IST
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