NEWS & ADVICE : AUTO INSURANCE
Bank of India posts 38.5% decrease in profits due to rise in bad debts
By Neelima Shankar
Oct 30, 2012
Print    Email    RSS   

The Mumbai based Bank of India has recorded a decline in its net profits due to increase in its bad debts for the quarter ending September 30, 2012. It has posted 38.5 percent decrease in net profits, which stand at Rs. 302 crore in the current fiscal.

Its net interest income increased slightly by 15 percent, rising from Rs. 1904 crore to Rs. 2196 crore for the same period. It is to be noted that analysts had predicted an average increase in its net profits to the tune of Rs. 783 crore and a rise in its net interest income by Rs. 2227 crore for the quarter ending September.

The bank also reported a dismal asset quality for the same quarter. Its gross non-performing assets (NPAs) rose by 86 basis points on a quarter on quarter basis, being recorded at 3.42 percent. In addition to this, its net NPAs also increased on a quarter on quarter basis by 35 basis points and in the current quarter it stood at 2.04 percent.    

Its second quarter financials show that the gross NPAs have risen by 32 percent, at Rs. 8899 crore and its net NPAs have risen by 18.5 percent, at Rs. 5228 crore.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
All about Vintage/Classic car insurance in...
Tips to reduce Auto Insurance Premium
Guide to get a an auto insurance claim...
An insight into two wheeler insurance
Factors affecting car insurance premium


SCHEME MEANING FOR STD-SBITSS06-PUB IND-5YL8-INR
QUICK EASY EMERGENCY URGENT LOANS LOAN OFFER...
BUSINESS LOAN PERSONAL LOAN HERE APPLY NOW WhatsApp...
I NEED A BLANK ATM CARD 2023, Whatsapp: +18033921735
GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735
Where is Dissertation Help India whose email is...

NEWS THIS WEEK
New endowment plan launched by PNB met life Feb 18, 2015
Yes bank bagged High performance award 2014. Feb 13, 2015
Banks may strike at February end Feb 4, 2015
Reliance industries to enter in to banking in association with the SBI Feb 3, 2015
OBC bank reported a drop down in its net profit Jan 30, 2015
News Archive