Bank of India News

Bank of India adds 111 new branches to expand urban, semi-urban reach

As of December 2024, BoI had 5,202 branches in the country, with 993 in metros, 838 in urban centres, 1,501 in semi-urban centres, and 1,868 in rural areas

Bank of India to pare stake in STCI Finance to meet RBI's proposed norms

A senior BoI executive told Business Standard that RBI's draft norms propose that banks engaged in the same activity as NBFCs should reduce their stake

Govt should bring down stake in PSBs, says Bank of India MD & CEO

Karnatak said that the bank's external benchmark-linked loans (EBLR) are already reflecting the rate cut by the Reserve Bank of India (RBI)'s monetary policy committee (MPC)

Bank of India reports Rs 226.84 cr loan fraud by Gupta Power Infrastructure

State-owned Bank of India (BOI) on Friday reported a fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank. The bank has informed that Non Performing Asset (NPA) of Gupta Power Infrastructure Ltd has been declared as fraud, BoI said in a regulatory filing. Against the outstanding amount of Rs 226.84 crore, the bank has made provisions of Rs 212.62 crore in case of Gupta Power Infrastructure Ltd, it said. For the third quarter ended December 2024, BoI posted a 35 per cent jump in net profit to Rs 2,517 crore against Rs 1,870 crore in the year-ago period. The lenders' total income increased to Rs 19,957 crore during the third quarter of the ongoing fiscal against Rs 16,411 crore a year ago. The interest income of the bank rose to Rs 18,210 crore against Rs 15,218 crore in the third quarter of the preceding year. Its net interest income (NII) increased to Rs 6,070 crore against Rs 5,463 crore for Q3 FY24.

Bank of India targets 35% share in MCLR-linked credit in next 2-3 years

Prudent growth forecast for FY26: 12-13%

Bank of India Q3FY25 results: Net profit rises 35% to Rs 2,517 crore

Sequentially, the Mumbai-based lender's net profit rose by 6 per cent from Rs 2,374 crore in June 2024 (Q2FY25). Its stock closed 1.5 per cent lower at Rs 98.3 per share on BSE

Bank of India's board approves plan to raise Rs 5,000 cr via infra bonds

State-owned Bank of India (BoI) on Thursday said its board has approved Rs 5,000 crore fund raising through infrastructure bonds. Long Term Infra Bonds to the tune of Rs 5,000 crore would be raised during the fourth quarter of FY25, BoI said in a regulatory filing. Domestic investors have shown a lot of interest in such bond issuance by banks, and many lenders have exercised this option for raising resources in the recent past. The advantage of infrastructure bonds is that they are exempt from regulatory reserve requirements such as Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). So, infrastructure bond proceeds can be fully deployed for lending activities. Banks have been preferring infrastructure bonds over AT-1 and Tier-2 bonds, as they are better priced.

Bank of India seeks its first dollar loan of $400 million in over a decade

Bank of India joins a slew of other Indian borrowers seeking to raise foreign currency debt this year. Reliance Industries Ltd. is looking to borrow as much as $3 billion

SBI, BoB, BoI: How to trade PSU Bank stocks as index falls 20% from peak

The Nifty PSU Bank index has plunged over 20% in the last six months and now seen testing long-term support on the monthly chart. Will PSU Banks rebound or extend fall? Key levels to watch out for.

Bank of India eyeing to sell stressed loans in Simbhaoli Sugars, Visa Steel

The anchor bid for the asset put up for sale would translate into a recovery of around 54.5 per cent for the lender

BOI up 3% after reports suggest bank plans to raise additional Rs 5,000 cr

In the last week of November, BOI raised Rs 5,000 crore through a 10-year infrastructure bond issuance at a coupon rate of 7.41 per cent

Bank of India plans additional Rs 5,000 cr infrastructure bond issue

To conduct brand recall survey for image enhancement, explores idea to appoint brand ambassador

Bank of India Q2FY25 results: Net profit rises 63% to Rs 2,374 crore

NIMs guidance of 2.9 per cent by March 2025

Bank of India Q2FY25 results: Net profit jumps 63% to Rs 2,374 cr

Bank of India (BoI) on Monday reported a 63 per cent jump in net profit to Rs 2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income. The public sector bank had a net profit of Rs 1,458 crore in the quarter ended in September 2023. Total income increased to Rs 19,872 crore in the July-September quarter of current fiscal, from Rs 16,659 crore in the corresponding quarter of previous fiscal. Net interest income (NII) increased by 4 per cent YoY to Rs 5,986 crore for Q2FY25 against Rs 5,740 crore in the year ago period. Non-interest income jumped 49 per cent YoY to Rs 2,518 crore during the quarter under review, against Rs 1,688 crore in the corresponding quarter of the previous fiscal. Net non performing assets (NPA) declined by 29 per cent YoY from Rs 7,978 crore in September 2023 to Rs 5,649 crore in September 2024. Bank of India shares closed at Rs 112.25 , up 0.63 per cent over previous close on BSE.

Nifty PSU Bank index soars 4%; Indian Bank, BOB zoom up to 12% post Q2 nos

At 02:20 pm; the Nifty PSU Bank index was the top gainer among sectoral indices, up 4 per cent, as compared to 0.8 per cent rise in Nifty 50.

Voda Idea, Dabur, YES Bank trade in oversold zone on NSE; key levels here

The 14-day RSI of Voda Idea, Bank of India, Dabur, YES Bank and DMart stands below 30, indicating oversold condition on the daily chart. In case of a pullback, these stocks can bounce back up to 24%.

Pivot points to track on 5 private, PSU bank stocks ahead of RBI policy

SBI, Bank of India, ICICI Bank, HDFC Bank and PSB are seen trading at their respective make-or-break points post the recent stock market fall. Here are the key levels to watch out for.

State-owned Bank of India raises Rs 2,500 crore at 7.49% via tier-II bonds

The state-owned lender will raise Rs 2,500 crore through additional Tier-I bonds in Q3