Bank of India slides on unveiling uniqueness in NPA provisioning

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Bank of India slides on unveiling uniqueness in NPA provisioning

Bank of India fell 0.49% to Rs 50.90 after the bank said its complete arrangements under uniqueness remained at Rs 930 crore.

While illuminating about the uniqueness in the resource grouping and provisioning for NPAs, the state-run bank unveiled that all-out arrangements under difference are Rs 930 crore, which remembers dissimilarity for the arrangement for NPA of Rs 394 crore, arrangement for speculations of Rs 23 crore, and deficit in standard resource provisioning of Rs 513 crore.

It further said that out of Rs 930 crore arrangements under disparity, the bank has just arranged Rs 572 crore during the current monetary year. Subsequently, the excess effect is Rs 358 crore, the bank added.

Bank of India gives a wide scope of banking items and monetary administrations to corporate and retail clients. As of 30 September 2020, there has been hold in Bank of India with an 89.10% stake by the government of India.  

The bank’s net benefit bounced 97.4% to Rs 525.78 crore on a 3.5% expansion incomplete pay to Rs 12,408.66 crore in Q2 September 2020 over Q2 September 2019.

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