Bank Of India

Sunday, May 19, 2024 | Last Update : 10:26 AM IST

A host of public sector banks that declared their second-quarter results on Friday reported higher profits on improved asset quality and operational metrics as fresh slippages were lower in the absence of lumpy corporate non-performing assets.

Mid sized banks report higher Q2 net profit as asset quality improves

Fresh slippages were lower in the absence of lumpy corporate non-performing assets

07 Nov 2020 10:54 AM

Total income of the bank rose to Rs 11,985.50 crore during the second quarter, from Rs 10,800.24 crore.

Bank of India post Rs 266 crore profit in Q2

The bank had posted a loss of Rs 1,156.25 crore in the July-September quarter last fiscal.

01 Nov 2019 1:48 PM

Banks including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points. (Representational image)

6 public sector banks cut lending rates by up to 0.25 per cent

With the reduction in their respective benchmark lending rates, home, auto and other loans have become cheaper.

10 Oct 2019 7:03 PM

In absolute terms, the bank's gross NPAs stood at Rs 62,068.40 crore by end of June quarter this fiscal, as against Rs 60,604.46 crore as on June 30.

Bank of India net jumps two-fold to Rs 243 cr in Q1; net NPAs down at 6 pc

Total income of the bank rose to Rs 11,526.95 crore during the quarter, as against Rs 10,631.02 crore.

30 Jul 2019 2:12 PM

Firemen at the BOI branch in Churchgate. (Photo: ANI)

Files destroyed as fire breaks out at Bank of India’s branch

The cause of the fire is being investigated but prima facie the fire seems to have erupted due to a short circuit.

21 Jun 2019 4:16 AM

The bank had reported a net loss of Rs 3,969 crore in the same quarter of the previous year.

Bank of India post Rs 252 crore profit in Q4

Total income in three months to March grew to Rs 12,417.08 crore, as against Rs 9,596.86 crore.

16 May 2019 2:47 PM

The court also sentenced one Yunus Memon to three years of imprisonment. (Representational Image)

Six get lifer for bank loan fraud of Rs 2.5 crore

Accused had availed various credit facilities from Bank of India.

27 Apr 2019 1:47 AM

At the floor price, the share sale would fetch over Rs 1,106 crore to the lender. (Photo: Pixabay)

Bank of India to sell 25 per cent in Star Union Dai-ichi

The Reserve Bank of India had removed BoI from its prompt corrective action (PCA) framework in January, easing some restrictions on lending.

06 Apr 2019 1:43 AM

Bank of India has a 28.96 per cent stake in the joint venture, while Union Bank of India and Dai-ichi Life owns 25.10 per cent and 45.94 per cent, respectively.

Bank of India looks to divest insurance JV stake worth about USD 160 mn

Bank of India is looking to sell 64.9 mn shares, or 25.02 pc stake, in Star Union Dai-ichi Life Insurance Co Ltd.

05 Apr 2019 1:53 PM

The bank is expects a write back of around Rs 1,800 crore from the Essar Steel account.

BoI to raise Rs 400-500 cr from non-core asset sale this month

The bank had also earlier planned to raise around Rs 800 crore by selling stake in STCI Finance and Sidbi.

14 Mar 2019 3:14 PM

The shares are issued with a lock-in period of one year, BoI said in a statement. (Representational Image)

Bank of India raises Rs 660 cr by selling shares to employees

The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement.

12 Mar 2019 3:07 PM

State-run Bank of India on Thursday said it has increased its marginal cost of funds based lending rate (MCLR) by 0.05 per cent for overnight and one month tenure, effective October 10. (Photo: PTI)

Bank of India raises MCLR rates by 0.05 pc on two tenures

Punjab National Bank also increased its benchmark lending rates or MCLR last week.

11 Oct 2018 5:17 PM

State-run Bank of India (BoI) on Friday invited bids for sale of its stake in three associate companies namely STCI Finance, SIDBI and Equifax Credit Information Services. (Photo: PTI)

Bank of India invites bids for stake sale in 3 associate companies

BoI said it was looking to raise nearly Rs 1,000 crore through stake sale.

21 Sep 2018 2:16 PM

State-run Bank of India is looking to raise nearly Rs 1,000 crore through selling stake in some of its non-core assets and real estate properties.

BoI looks to raise Rs 1,000 crore from sale of non-core assets, real estate

The bank expects to raise around Rs 800 crore through sale of its stake in non-banking finance company - STCI Finance - and in Sidbi.

16 Sep 2018 12:55 PM

The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore each on the Union Bank of India, Bank of India and Bank of Maharashtra for failing to detect and report fraud in certain accounts on time.

3 banks fined by Reserve Bank of India for delay in fraud detection

The RBI, in three separate releases, said it has imposed a penalty of Rs 1 crore each on three state-run banks.

09 Sep 2018 2:40 PM

PSU banks should have the same level of operational freedom as being enjoyed by private sector lenders in order to help them resolve their issues including bad loans, Bank of India non-executive chairman G Padmanabhan said on Friday.

PSBs should have operational freedom like private players: official

There are limitations with respect to ownerships in public sector banks but those issues can be easily resolved.

24 Aug 2018 5:10 PM

Bank of India stock was trading 6.29 per cent down at Rs 96.90 on BSE.

Bank of India Q1 profit up 8 per cent to Rs 95 crore

The bank had registered net profit of Rs 87.71 crore in the April-June period of 2017-18.

31 Jul 2018 2:49 PM

Among the prominent ones is the over Rs 13,000-crore fraud in the PNB allegedly committed by jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems. (Photo: File)

CBI hunts for banking, tax experts from ministries to probe PNB scam, other frauds

'It may be noted that officers coming on deputation are entitled for special security allowance at 20 per cent on the pay,' CBI said.

08 Jul 2018 2:00 PM

Two bank officials held over loan fraud

The promoters of the company were arrested in April this year.

07 Jul 2018 1:30 AM

Following peers, state-owned Bank of India has hiked lending rates based on MCLR by 0.10 per cent for various tenors.

Bank of India hikes lending rate based on MCLR by 0.10 per cent

The bank has increased MCLR rates by 10 bps for various tenors, it said in a statement.

08 Jun 2018 1:34 PM

Bank of India on Monday reported widening of its net loss to Rs 3,969.27 crore in the March quarter due to higher provisioning for mounting bad loans.

Bank of India Q4 loss widens to about Rs 4,000 crore on bad loans

The gross non-performing assets (NPAs) hit 16.58 per cent of the gross advances, as against 13.22 per cent by end March 2017.

28 May 2018 6:35 PM

The agency has charged Vikram Kothari and his son, who are in judicial custody, and others with alleged criminal conspiracy, cheating among others and under provisions of the Prevention of Corruption Act. (Photo: Facebook)

CBI files chargesheet against Rotomac owners in bank fraud case

The amount swelled to Rs 3,695 crore, including the accrued interest, because of repeated defaults on payment, the officials said.

21 May 2018 9:24 PM

Bank of India (BoI) has an exposure of Rs 200 crore in the Punjab National Bank fraud case.

BoI has Rs 200 cr exposure in PNB scam, initiates proceedings: CEO

Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam.

08 May 2018 3:50 PM

Bank of India will offer preferential pricing rates to borrowers with good credit scores for home loans of Rs 30 lakh and above, the state-run lender said.

BoI offers home loans at cheaper rates to good credit score holders

A consumer's CIBIL score is a three-digit numeric summary of the credit information report.

07 May 2018 7:23 PM

State-run Bank of India on Monday said it has entered into an agreement with National E-Governance Services for information utility arrangement under the Insolvency and Bankruptcy Code.

Bank of India inks pact with NeSL to share data under insolvency rules

BoI will avail NeSL service to expedite corporate insolvency resolution process.

23 Apr 2018 3:34 PM

CBI on Wednesday questioned two Canara Bank officials from the Bahrain branch and one Bank of India official.

Canara Bank, Bank of India officials questioned in PNB scam case

The PNB in February detected the multi-crore scam, wherein Nirav Modi and Mehul Choksi had allegedly cheated the bank.

12 Apr 2018 12:11 PM

Central bank downgraded some of BoI's accounts impacting profitability as well as non-performing asset (NPA) position. (Representational Image)

Bank of India postpones Rs 3,000 crore QIP plan

Govt decided to infuse Rs 2,257 crore capital support into bank obviating need for capital immediately.

15 Jan 2018 10:35 AM

HC raps BOI for not saving 120 forged cheques

The court was upset with the bank as it failed to produce the cheques that should have been kept as a record in its designated godowns.

18 Dec 2017 2:21 AM

A Broker checks changing share prices at BSE. (Photo: PTI)

Banks' recap: PNB surges 32 per cent, Bank of India 24 and SBI 20 per cent

Also, Andhra Bank was quoting 14.96 per cent higher, Allahabad Bank 12.70 per cent and Syndicate Bank 12.11 per cent.

25 Oct 2017 12:09 PM

Bank of India has cut MCLR rates by 0.05-0.10 per cent for various tenors from September 10. Photo: PTI

BOI slashes lending rate by 0.05-0.10 per cent

As of now, Bank of India's one year MCLR stands at 8.40 per cent.

07 Sep 2017 7:34 PM

Bank is introducing two tier saving bank rate with effect from Thursday. (Photo: PTI)

BOI cuts interest to 3.5 pc for deposits up to Rs 50 lakh

The bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh.

24 Aug 2017 1:06 PM

The bank had reported a net loss of Rs 741.36 crore in the April-June quarter of previous fiscal.

Bank of India swings into black in Q1 on lower NPAs

Net NPAs or bad loans also fell to 6.70 per cent of the net advances by June end this year.

09 Aug 2017 2:34 PM

The bank security paid no heed to the alarm raised by the complainant, it alleged.

SBI not liable if customer hands over money to stranger: panel

District forum had asked the bank to pay Rs 48,500 to the woman along with a litigation cost of Rs 5,000.

08 Aug 2017 5:25 PM

Bank has called a pre-bid meeting on August 14 and the final bids are to be sent in by 3 pm on August 22.

BoI to raise up to Rs 626 crore via STCIF stake sale

Bank of India holds 1,13,83,781 shares in STCIFL representing 29.96 per cent stake.

07 Aug 2017 2:59 PM

Bank of India expects to return to black in the second quarter of current fiscal. (Representational Image)

Bank of India eyes net profits in second quarter

As per RBI norms, Bank of India was supposed to be under threshold one of prompt and corrective action.

15 Jul 2017 4:31 PM

LIC bought an additional stake of over 3 per cent in Bank of India for about Rs 450.88 crore. (Representational Image)

LIC buys additional shares in Bank of India for Rs 451 crore

Bank of India sold shares equivalent to LIC through an open market purchase on a preference shares allotment

07 Jul 2017 5:29 PM

Even under the RTI response, all public sectors banks have washed their hands of any responsibility. (Representational image)

PSBs not liable for loss of items

This bitter truth was disclosed in an RTI response by the Reserve Bank and 19 PSU banks.

26 Jun 2017 3:31 AM

Government pushes PSBs to explore acquisition of smaller banks

Large PSBs like Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India could look for potential candidates for acquisition.

18 Jun 2017 1:05 PM

BOI shares tumble after company reports net loss

The stock tanked 11.23 per cent to settle at Rs 158.45 on BSE.

22 May 2017 4:51 PM

Bank of India suffers losses in fourth quarter

The state-owned bank suffered net loss to Rs 1,045.54 crore in the fourth quarter of last fiscal.

22 May 2017 2:26 PM

Smoke billows out after a fire broke out in the Bank of India building in Mumba. (Photo: PTI)

Fire breaks out on fourth floor of BOI headquarters

The incident caused panic among people and huge traffic jams on nearby roads.

22 Apr 2017 9:05 AM

The collector’s office seals Mumbai’s iconic Eros Cinema at Cambata Building following a legal dispute involving Cambata Aviation. (Photo: Shripad Naik)

Bombay HC allows attachment of Cambata building

The high court restrained the tenants from subletting their premises.

02 Feb 2017 6:05 AM

People standing in a long queue to collect cash from an ATM in Kolkata. (Photo: PTI)

Kolkata ATMs still cash-strapped

In many places, long queues were seen in front of ATMs where cash vans were parked outside.

20 Nov 2016 6:08 AM

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