Bank of India’s Q3 net loss widens to Rs 4,738 cr

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Mumbai, Jan 28 (IANS) State-owned lender Bank of India’s net loss widened during the quarter ended December 31, 2018 due to higher provisioning for non-performing assets (NPAs).

According to the state-run lender, its net loss in the three months through December 2018 widened to Rs 4,738 crore from a net loss of Rs 2,341 crore reported for the same period of the last fiscal year.

However, the lender’s net interest income increased by 33.23 per cent to Rs 3,332 crore in the quarter under review from Rs 2,501 crore in Q3FY18.

The bank made provision worth Rs 9,179.48 crore for NPAs during the quarter under review from Rs 4,373.06 crore made during the previous corresponding quarter of 2017-18.

–IANS

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