Tag: Bank Of India

Bank of India introduces 2 tier saving bank rate

Bank of India introduces 2 tier saving bank rate

24/08/2017 12:45

Bank of India said that it has introduced a 2 tier saving bank rate with effect from August 24, 2017.

The interest rate on balance up to Rs 50 lakh will be at 3.5 per cent and the interest rate on balance above Rs 50 lakh will be at 4 per cent, the Bank said in a filing to the Bombay Stock Exchange.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.

Meanwhile, shares of the Bank were trading at Rs 142.45 apiece, down 0.84 per cent from the previous close at 12:50 hours on BSE.

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Bank of India posts Rs 126.84 cr profit in Sept-qtr

Bank of India posts Rs 126.84 cr profit in Sept-qtr

10/11/2016 16:35

Country’s third biggest state-run lender by assets Bank of India (BoI) on Thursday registered a net profit of Rs 126.84 crore in the second quarter ended September 30, 2016.

The bank had posted a net loss of Rs 1,126.24 crore in the corresponding quarter of previous fiscal due to higher provision for bad loans as per RBI’s asset quality review guidelines, said Bank of India in a filing to the Bombay Stock Exchange on November 10, 2016.

Total income of the bank stood at Rs 11,469.11 crore in Q2 FY17 from Rs 11,317.97 crore in Q2 FY16.

During the quarter, provisions (other than tax) and contingencies reduced to Rs 2,296.22 crore from Rs 2,770.19 crore in previous quarter and from Rs 3,237.39 crore in corresponding quarter of last fiscal.

During the quarter under review, the bank’s gross non-performing assets jumped to 13.45 per cent of total loans, compared with 7.55 per cent in the year-ago quarter. Net NPA of the bank too grew to 7.56 per cent against 4.31 per cent in corresponding period last year.

Meanwhile, shares of bank closed at Rs 124.15 apiece, up 12.97 per cent, from previous close on BSE.

Bank of India raises Rs 1,000 cr via bonds

Bank of India raises Rs 1,000 cr via bonds

23/06/2016 11:06

Country’s third biggest state-run lender by assets Bank of India (BoI) on Thursday said it has raised funds of Rs 1,000 crore through issue of Basel-III compliant additional tier I bonds (Series-ll).

“The Bank has raised Rs 1000 crore by issue of Basel-Ill Compliant Additional Tier I Bonds (Series-ll),” BoI said in a filing to the Bombay Stock Exchange on June 23, 2016.

The lender further said that these bonds have been rated ‘AA (-)’ by Brickwork and ‘A+’ by CRISIL.

Moreover, these bonds bear coupon rate of 11.50 per cent p.a, it added.

Meanwhile, shares of the company were trading at Rs 95.80 apiece, up 0.26 per cent, from previous close on BSE at 11:07 hours.

Bank of India posts Rs 1,505.58 cr loss in Q3

Bank of India posts Rs 1,505.58 cr loss in Q3

11/02/2016 16:02

Country’s one of the oldest and largest commercial lender Bank of India (BoI) saw business taking a dip in October-December quarter mainly on account of surge in bad loans. It had posted a standalone net loss at Rs 1,505.58 crore in the quarter ended December 31, 2015.

The bank had posted standalone net profit of Rs 173.38 crore in corresponding quarter of previous fiscal, said Bank of India in a filing to the Bombay Stock Exchange on February 11, 2016.

Total income of the bank too fell by 7.2 per cent at Rs 11,086.95 crore in Q3 FY16 from Rs 11,947.45 crore in Q3 FY15.

During the quarter, provisions (other than tax) and contingencies jumped significantly to Rs 3,603.92 crore from Rs 3,237.39 crore in previous quarter and from Rs 1,580.72 crore in corresponding quarter of last fiscal.

During the quarter under review, the bank’s gross non-performing assets jumped to 9.18 per cent of total loans, compared with 4.07 per cent in the year-ago quarter. Net NPA of the bank too grew to 5.25 per cent against 2.50 per cent in corresponding period last year.

Reacting to the numbers, shares of Bank closed at Rs 85.20 apiece, down 5.96 per cent, from previous close on BSE.