Bank of India Q4 net loss narrows to Rs 1,046 crore as NPA provisions fall

Provisions for non-performing assets fell to Rs 4,484 cr from Rs 5,442 cr a year earlier

Bank of India, the country's sixth-biggest lender by assets, reported a fourth-quarter net loss of Rs 1,046 crore ($162.08 million) as provisions for bad loans remained high.

Net loss for the quarter ended March 31 narrowed from a loss of Rs 3,587 crore a year earlier, the Mumbai-based lender said in a statement on Monday.

Bad loans as a percentage of total loans rose to 13.22 per cent at the end of March, compared with 13.38 per cent in the preceding quarter, and 13.07 per cent a year ago.

Provisions for non-performing assets fell to Rs 4,484 crore from Rs 5,442 crore a year earlier, the bank said.

Shares of the bank were trading down 2.9 per cent by 07:34 GMT on the National Stock Exchange.