Bank of India's shares ended 4.5% higher in a Mumbai market.
Bank of India Ltd reported a net loss of Rs 3,969 crore ($588.87 million) for the fourth quarter, as the state-owned lender set aside more funds for bad loans.That compared with a loss of Rs 1,046 crore in the year-ago period and expectations of a loss of Rs 1,284 crore, according to Thomson Reuters estimates by nine analysts.Gross bad loans as a percentage of total loans stood at 16.58 per cent at end-March, compared with 16.93 per cent in the previous quarter and 13.22 per cent a year ago.Provisions for bad loans surged about 41 per cent to Rs 6,674 crore.Shares ended 4.5 per cent higher in a Mumbai market that was up 0.7 per cent.
Thomson Reuters 2018(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)