ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Bank of India clocks Q1 net profit of Rs 844 cr on lower provisions

Mumbai (Maharashtra) [India], Aug 3 (ANI): Government-owned Bank of India on Monday reported a net profit of Rs 844 crore in the April to June quarter, up 247 per cent from Rs 243 crore in a year-ago period.

ANI Aug 03, 2020 14:13 IST googleads

BoI has 5,000 branches in India and overseas presence in 22 foreign countries across 5 continents.

Mumbai (Maharashtra) [India], Aug 3 (ANI): Government-owned Bank of India on Monday reported a net profit of Rs 844 crore in the April to June quarter, up 247 per cent from Rs 243 crore in a year-ago period.
Total provisions declined to Rs 1,512 crore in Q1 FY21 from Rs 1,912 crore in the same period the previous quarter. Provisions during Q4 FY20 were at Rs 8,412 crore.
Net interest income in Q1 FY21 was down marginally to Rs 3,481 crore from Rs 3,485 crore in Q1 FY20. Pre-provision operating profit increased to Rs 2,845 crore from Rs 2,271 crore in the same period last year.
Asset quality during the quarter improved significantly as gross non-performing assets (NPAs) fell 6.1 per cent to Rs 57,788 crore from Rs 61,550 crore while net NPA declined 7.3 per cent to Rs 13,275 crore from Rs 14,320 crore, compared to the previous quarter.
Gross NPA as a percentage of gross advances fell by 90 basis points to 3.6 per cent from 3.9 per cent.
At 2 pm, the shares of Bank of India were trading 2.12 pc higher at Rs 48.10 on the BSE. (ANI)

Get the App

What to Read Next

Business

India market "relatively resilient" compared to its Asian peers

India market

The deepening conflict in West Asia has placed the Indian economy and the broader Asian region in the "eye of the storm," as supply chain disruptions and surging energy costs threaten to trigger a significant negative growth shock.

Read More
Business

Adani Foundation to connect 10 lakh women nationwide

Adani Foundation to connect 10 lakh women nationwide

The Adani Foundation, today, declared that in the next one year, it will connect one lakh women in Maharashtra with the Swabhimaan initiative. For the future, Adani Foundation has announced to connect 10 lakh women in India with the same initiative and make them strong.

Read More
Business

Govt Urges Citizens to Avoid Panic Booking

Govt Urges Citizens to Avoid Panic Booking

Amid global energy disruptions following the closure of the Strait of Hormuz, the government has assured that the domestic supply of LPG, petrol, diesel, kerosene, and natural gas remains stable, while citizens are urged to avoid panic booking and conserve fuel, said Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas, today.

Read More
Business

India Emerging as Stable Investment Anchor in Turbulent Global

India Emerging as Stable Investment Anchor in Turbulent Global

Mumbai (Maharashtra) [India], March 12: As military conflict in West Asia disrupts energy supplies through the Strait of Hormuz and global liquidity tightens, leading investors, policymakers and capital markets leaders gathered at IGF Mumbai 2026: Catalysing Capital to assess India's position in an increasingly fragmented global economy.

Read More
Business

India pushes for green ship recycling, euro-compliant yards

India pushes for green ship recycling, euro-compliant yards

India is rapidly expanding its ship recycling sector and upgrading shipbreaking yards to meet European environmental standards, as part of a broader effort to strengthen its maritime industry and reduce logistics costs, Sushant Kumar Purohit, Chairperson of VO Chidambaranar Port Authority, said today.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.