Bank of India has received an approval for raising of Tier-1 capital by issue of fresh equity shares to the Government of India (Promoters) aggregating Rs 1,000 crore including premium amount, on preferential basis, subject to necessary approvals. The board of directors at its meeting held on October 31, 2013 has approved for the same.
The bank has reported over two fold jump in its net profit at Rs 621.77 crore for the quarter ended September 30, 2013 as compared to Rs 301.85 crore for the same quarter in the previous year. Total income of the bank increased by 16.18% at Rs 10339.55 crore for quarter under review as compared to Rs 8899.55 crore for the quarter ended September 30, 2012.
Gross non-performing assets (NPAs) have improved to 2.93% in the July-September quarter as against 3.42% in the same quarter previous year, while net NPAs too decreased to 1.85%.
The bank has reported over two fold jump in its net profit at Rs 621.77 crore for the quarter ended September 30, 2013 as compared to Rs 301.85 crore for the same quarter in the previous year. Total income of the bank increased by 16.18% at Rs 10339.55 crore for quarter under review as compared to Rs 8899.55 crore for the quarter ended September 30, 2012.
Gross non-performing assets (NPAs) have improved to 2.93% in the July-September quarter as against 3.42% in the same quarter previous year, while net NPAs too decreased to 1.85%.
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