The results of the second quarter of the Bank of India will come out today; this is what you have to be careful
NEW DELHI: The second quarter earnings of the Bank of India will be declared today, that is, on November 1, 2019. The commercial bank reported a 156% increase in net earnings to Rs 243 million in the quarter that ended June 19.
With the pressure of bad loans increasing and a slowdown in the PSB sector, the Bank of India's performance report in the second quarter of 2019 will be quite interesting to see. In the second quarter of the previous fiscal year, the Bank of India showed a net loss of Rs 1,156 million rupees.
At 12:16 in the morning of November 1, 2019, the Bank of India was listed at Rs 73.75 (NSE) and Rs 73.80 (BSE). The bank plans to sell deteriorated assets worth Rs 30,000 million in 2020, including those indicated by the NCLT (National Court of Corporate Law) to asset reconstruction organizations, to further correct its balance sheet.
(With agency contributions)