Bank of India Q4 loss triples to Rs 40 billion on bad debt provisioning

Bank of India’s net loss for the quarter ended March tripled over that of the previous year, due to bad debt provisioning and treasury losses.

The government-owned entity’s net loss was Rs 39.7 billion; it was nearly Rs 10.5 billion in January-March 2017.

Gross non-performing assets as a percentage of total advances were 16.58 per cent (at Rs 623 billion), against 16.93 per cent (Rs 642 billion) in the December quarter. In the year-ago quarter, it was 13.22 per cent.     

Net interest income fell 26 per cent from a year before to Rs 25.6 billion, from Rs 34.7 billion. Net interest