Bank of India posts Rs. 250 crore Q4 profit on tapering bad loans
The bank, which has also made significant inroads into the northeastern region, said that net non-performing assets (NPAs) stood at 3.35 per cent as against 3.88 per cent.
SHILLONG:
Bank of India reported a net profit of Rs. 250 crore for the fourth quarter ending March 2021, compared to a loss of more than Rs. 3,500 crore a year ago, as the state-owned bank managed to recover bad loans.
The bank, which has also made significant inroads into the northeastern region, said that net non-performing assets (NPAs) stood at 3.35 per cent as against 3.88 per cent.
Bank of India was also successful in turning around their Rs. 2,957 crore loss in the previous financial year, reporting a net profit of Rs. 2,160 crore for the current financial year 2020-21.
Stocks of the bank closed at Rs. 83.60 at the NSE on Monday, after a net percentage rise of 1.46 per cent as compared to the previous day close.
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