State-run lender Bank of India (BoI) today announced reduction in its home loan rates by up to 0.75% as well as a 0.25% drop in the base rate to 10.50%.
Bank of India has surged 7% to Rs 360 after reporting a robust 93% year-on-year (y-o-y) growth in net profit at Rs 953 crore for the quarter ended March 2012, due to lower staff cost.
The National Stock Exchange (NSE) banking index Bank Nifty has rallied 2% or 182 points, compared to less than 1% or 32 points gain in the benchmark index S&P CNX Nifty.
Ratings agency Moody’s on Wednesday downgraded various debt instruments of Bank of India by a notch, owing to a sharp rise in non-performing assets and pressure on profitability.
Moody's Investor Service on Wednesday downgraded ratings on Bank of India's debt programmes by one notch, citing an accelerated pace of asset quality deterioration, stressed core capital levels and increased pressure on profitability.
State-owned Bank of India (BoI) today said it would issue 70 million fresh equity shares on preferential basis to to the government of India and Life Insurance Corporation of India (LIC).
Public sector lender Bank of India will revamp up to 350 key branches in metro and large cities to project these as “Branch of the Future&" over the next 18 months to scale up the retail business.
Bank of India reported a 9.65 per cent rise in net profit at Rs 716 crore in the third quarter, primarily owing to robust contribution from its foreign business.
Bank of India has soared 7% to Rs 366 after reporting better-than-expected 10% year-on-year (y-o-y) growth in net profit at Rs 716 crore for the quarter ended December compared to Rs 653 crore in a year ago quarter.
The troubles of cash-strapped Kingfisher Airlines worsened today with another lender classifying its loan to the Vijay Mallya-promoted company as "sub-standard", a day after State Bank of India termed the airline as defaulter.
Bank of India surged 2% post the news that the bank has agreed to enter into a joint venture with AXA Investment Managers in the asset management business in India.
Bank of India on Saturday said it would have a majority stake of 51 per cent in its proposed asset management joint venture with AXA Investment Managers.
State-run Bank of India, posted a 20 per cent year-on-year decline in net profit for the second quarter this financial year, on account of higher provisioning made for bad loans.
Alok Misra, chairman and managing director of Bank of India, spells out his strategy for credit expansion, improving asset quality and recovery for the second half of the financial year, in conversation with Parnika Sokhi and Abhijit Lele.
Public sector lender Bank of India (BoI) has reported a fall of 20.38% in net profit at Rs 491.11 crore for the second quarter ended September 30, 2011, due to higher provisioning.
Bank of India (BoI) has sought capital infusion of Rs 4,000 crore from the government to fund its growth for the next two-three years. The government holds 65 per cent stake in Bank of India.
State-run lender Bank Of India today raised its base rate by 75 basis points (bps) in the wake of rate tightening done by the Reserve Bank of India (RBI) on Tuesday.
