Bank of India sees further improvement in bad loans in Dec quarter

Bank of India

Latest News – Bank of India Ltd does not expect any additional bad loans in the current quarter on a net basis, its chief said on Thursday, as India’s sixth-biggest lender by assets reported its second consecutive quarter of profit after a stretch of losses.

The state-run lender booked a net profit of 1.02 billion rupees ($15 million) for the three months ending in December, compared with a net loss of 15.06 billion rupees a year earlier.

Gross bad loans as a percentage of total loans as at the end of December eased to 13.38 per cent from 13.45 per cent as at September-end.
For the fourth quarter through March, the bank expects gross bad loan additions of (Read More)

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