Up to date: Jun 25, 2020 14:47 IST
Mumbai (Maharashtra) [India], June 25 (ANI): Authorities-owned Bank of India on Thursday reported a net loss of Rs 3,571 crore within the quarter ended March in opposition to a revenue of Rs 252 crore in This fall FY19.
It mentioned the downturn was largely as a result of higher provisions on bad debts. Nevertheless, the working revenue elevated by 15 per cent from Rs 2,303 crore in This fall FY19 to Rs 2,653 crore in This fall FY20.
The financial institution mentioned its non-interest income by 14 per cent from Rs 1,479 crore in March 2019 to Rs 1,688 crore in March 2020 as a result of rise in treasury revenue.
The worldwide net interest margin stood was flat at 2.9 for This fall FY20 whereas the fee to revenue ratio lowered from 59 per cent in This fall FY19 to 51.6 per cent in This fall FY.
For the complete fiscal ended March, the net loss — on account of upper non-performing assets (NPAs) provisions of Rs 14,416 crore — stood at Rs 2,957 crore in opposition to a lack of Rs 5,547 crore throughout FY19.
The financial institution’s international enterprise elevated from Rs 9.03 lakh crore in FY19 to Rs 9.72 lakh crore with a development of seven.56 per cent. The home enterprise registered a development of 12 per cent which rose from Rs 7.49 lakh crore to Rs 8.4 lakh crore. (ANI)