Page 2 - Bank Of India

Bank of Baroda and Bank of India miss FY25 deposit growth guidance

Advances of the bank grew by 20.3 per cent Y-o-Y to Rs 2 trillion

BOI's first dollar loan deal in over a decade raises $400 mn, woos 22 banks

The deal is latest sign of growing appeal of Indian assets to global investors and lenders, with its bonds posting strong monthly inflows and stocks recuperating from a trillion dollar selloff

Bank of India to engage advisor for crafting deposit growth plans

The competition for deposits is expected to remain intense as banks focus on increasing deposit growth and prevent it from constraining credit off-take

Small-cap banks take the lead in average spend per credit card transaction

Credit-card spending for January stood at Rs 1,841 billion, marking a two per cent slide month-on-month (MoM), but a strong 14 per cent year-on-year growth

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

RBI fines J&K Bank, BoI, Canara Bank for gaps in regulatory compliance

The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion - access to banking Services - Basic Savings Bank Deposit Account (BSBDA)', Know Your Customer' and Loans and Advances - Statutory and Other Restrictions'. In another release, the RBI said Rs 1 crore penalty has been imposed on the Bank of India for non-compliance with certain provisions of the Banking Regulation Act, 1949. A penalty of Rs 1.63 crore has been imposed on public sector Canara Bank for non-compliance with certain directions on priority sector lending, the interest rate on deposits and financial inclusion - access to banking services - BSBDA', the RBI said. Also, a penalty of Rs 1 lakh has been imposed on Datson Exports, West Bengal for non-compliance with certain directions issued by the RBI on Managing

Bank of India Q3 profit rises 35% to Rs 2,517 cr, bad loans decline

State-owned Bank of India (BoI) on Friday posted a 35 per cent jump in net profit to Rs 2,517 crore for the December quarter on account of a decline in bad loans. The Mumbai-headquartered bank had earned a net profit of 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, BoI said in a regulatory filing. 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. The company's operating profit rose to Rs 3,703 crore from Rs 3,004 crore in the year-ago quarter. On the asset quality front, the bank's gross non-performing assets (NPAs) declined to 3.69 per cent of the gross loans by the end of December 2024 from 5.35 per cent a year ago. Similarly, its net NPAs, or bad loans, came down to 0.85 per cent fr

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

Stocks to Watch, Jan 6, 2025: Nykaa, HDFC Bank, Bajaj Finance, HUL, RIL

Stocks to Watch, Jan 6, 2025: From Nykaa to HDFC Bank, here is a list of stocks that will be on investors' radar today

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

UCO Bank, Central Bank rise up to 9% in trade: here's why PSBs are surging

Among others, UCO Bank and Central Bank gained over 9 per cent and over 7 per cent respectively. Indian Overseas Bank shares were up over 6 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

SBI, other banks reviewing Adani group exposure after US bribery charges

While SBI will exercise caution while disbursing future loans to ensure compliance, the review does not mean a change in the lenders' credit approach to the ports-to-energy conglomerate

Indian banks reviewing exposure to Adani Group after US indictment

SBI has the largest exposure to the Adani Group among Indian banks, with sanctioned loans of Rs 33,800 crore ($4 billion)