Bank of India Q2 profit rises, beats estimates
Nov 11, 2017-Bank of India, the country’s sixth biggest lender by assets, reported a 41 percent jump in second-quarter profit, handily beating analyst estimates, with its bad loan ratio easing. Net profit rose to 1.79 billion rupees ($27.53 million) in the quarter ended September 30, from 1.27 billion rupees a year earlier, the Mumbai-based bank said on Friday. Analysts on average had expected a net profit of 666 million rupees, according to Thomson Reuters Eikon data. Gross bad loans as a percentage of total loans was 12.62 percent at end-September compared with 13.05 percent a quarter earlier, and 13.45 percent a year earlier. Provisions for non-performing assets fell about 15 percent to 18.67 billion rupees.
Published: 11-11-2017 08:27