Bank of India turns profitable, posts Rs 101.74 crore net in Oct-Dec 2016
Bank of India posted a net profit of Rs 101.74 crore for the quarter-ending December 2016, against a loss of Rs 1,505.58 crore.
Bank of India posted a net profit of Rs 101.74 crore for the quarter-ending December 2016, against a loss of Rs 1,505.58 crore.
However, the bank's interest income was down at Rs 9,824.75 crore companies to Rs 10,039.68 crore posted in the same period last year.
Total income however grew to Rs 11,594 crore versus Rs 11,086.95 crore in October - December 2016.
Bank of India had to set aside lesser amount to Provisions and Contingencies at Rs 2,302.57 crore compared to Rs 3,505.78 crore.
Provisions made for NPAs came down to Rs 2,546.20 crore compared to Rs 3,505.78 crore.
On a sequential basis, gross NPas came down to 13.38% from 13.45% and net NPA was down to 7.09% from 7.56%.
The shares of Bank of India were trading at Rs 136.50, up Rs 3.85 or 2.90% from previous close.