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Bank Of India Posts Biggest Quarterly Loss In 13 Years

Net loss widened to Rs 4,738 crore ($666.50 million) for the three months ended December 31, 2018, from a loss of Rs 2,341 crore a year earlier.

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Bank Of India Posts Biggest Quarterly Loss In 13 Years

Provisions for bad loans more than doubled to Rs 9,179 crore.


Bank of India posted its biggest quarterly loss since at least 2005 on Monday as the state-run lender set aside higher provisions for bad loans.

Net loss widened to Rs 4,738 crore ($666.50 million) for the three months ended December 31, 2018, from a loss of Rs 2,341 crore a year earlier.

Provisions for bad loans more than doubled to Rs 9,179 crore.

Asset quality improved slightly, with gross bad loans as a percentage of total loans standing at 16.31 per cent by the end of December, compared with 16.36 percent at end-September and 16.93 per cent in the year-ago period.

($1 = Rs 71.08 rupees)

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