Bank of India reports net loss of 741 crore in Q1

Bank of India has reported results for first quarter ended June 30, 2016.

The bank has posted a net loss of Rs 741.36 crore for the quarter ended June 30, 2016 as compared to a net profit of Rs 129.72 crore for the same quarter in the previous year. Total income of the bank decreased by 6.15% to Rs 10664.36 crore for the quarter under review from Rs 11659.16 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 13.38%, as compared to 6.80% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 7.78% in Q1FY17.