Business Standard

Bank of India Q1 net profit rises 8% to Rs 951 million, stock falls 8.75%

The bank said it was trying to sell non-core assets and in the second quarter would see better realisation of assets through sale to asset reconstruction companies

Bank of India, Bank of India shares
Premium

Bank of India

Anup Roy Mumbai
State-owned lender Bank of India (BoI) on Tuesday reported a profit of Rs 951 million in the first quarter ended June, against a loss in the March quarter, as the bank focused on retail loans while shrinking its corporate book.

In the first quarter a year ago, BoI had registered a loss of Rs 39.7 billion. In the second quarter, the bank had reported profit of Rs 877 million. Bank of India is the largest bank under prompt corrective action (PCA) framework of the Reserve Bank of India (RBI).

Dinabandhu Mohapatra, MD and CEO of BoI, said he expected the bank to

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 31 2018 | 11:46 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com