Bank of India Share Price (BANKINDIA)

Bank of India Partners with IMGC for Home Loan Products; Fitch Affirms Ratings - 16 Apr, 2024

Bank of India has partnered with Indian Mortgage Guarantee Corporation to offer mortgage guarantee-backed home loans. Meanwhile, Fitch has affirmed Bank of India New Zealand's ratings at BBB-, with a Viability Rating (VR) of bb and Government Support Rating (GSR) of bbb-.

Bank of India Ties Up with IMGC for Home Loans - 15 Apr, 2024

Bank of India has signed a pact with Indian Mortgage Guarantee Corporation (IMGC) to provide mortgage guarantee-backed home loan products in the affordable housing segment. The tie-up will enable both institutions to expand coverage in their target borrower segments and promote financial inclusion.

Bank of India Q3FY24 Net Profit Rises 62% YoY - 08 Apr, 2024

Bank of India's net profit for Q3FY24 rose 62% YoY to ₹1,870 crore, primarily led by a significant drop in provisioning. The public sector lender witnessed growth in its total loans and advances, global gross advances, domestic deposits, and reasonable drop in non-performing assets (NPA). However, the bank's global operating profit fell 18% YoY during the third quarter.

Bank of India Reports Strong Growth in Deposits and Advances - 05 Apr, 2024

Bank of India reports a credit growth of 13.56% at Rs 5.86 lakh crore for the March quarter, while its total business reached ₹13.23 lakh crore, reflecting strong customer confidence and increased savings.

Bank of India's Segments and Offerings - 02 Apr, 2024

Bank of India has three segments: treasury, wholesale banking, and retail banking. It offers various accounts and loans, as well as credit, trade finance, and cash management services to corporates. The RBI is likely to set a cut-off yield on 10-year state bonds in the 7.42%-7.44% band.

Bank of India Faces Income Tax Demand Notice and Increases Lending Rate - 01 Apr, 2024

Bank of India faces an income tax demand notice of just over Rs 1,000 crore for AY 2016-17. The bank also increased its lending rate by 10 basis points, making loans more expensive.

Bank of India Raises Lending Rate Ahead of RBI Policy Announcement - 31 Mar, 2024

State-owned Bank of India has increased its lending rate by 10 basis points, effective from April 1. The move will make loans, including retail, more expensive for customers.

IT Department Imposes Rs 564.44 Crore Penalty on Bank of India - 29 Mar, 2024

The Income Tax Department has imposed a penalty of Rs 564.44 crore on Bank of India for AY 2018-19. The bank is filing an appeal before the Commissioner of Income Tax, National Faceless Appeal Centre against the order and expects the demand to subside. There is no impact on financial, operations or other activities of the Bank.

Bank of India slapped with Rs 564.44 crore penalty by Income Tax Department - 28 Mar, 2024

The Income Tax Department has imposed a penalty of Rs 564.44 crore on Bank of India for various disallowances made during AY2018-19 under Section 270A of the Income Tax Act, 1961.

NCLT Rejects Wadhwa Buildcon's Resolution Plan for Bank of India - 26 Mar, 2024

The National Company Law Tribunal (NCLT) has declared the resolution plan submitted by the promoter of Wadhwa Buildcon as invalid, citing irregularities in the approval process and the promoter being a wilful defaulter. The matter was brought by Bank of India, the company's financial creditor.

Bank of India Board to Consider Fundraising Proposal - 22 Mar, 2024

Bank of India's board is set to meet on March 27 to discuss a proposal for fundraising through the issuance of long-term (infra) bonds. The state-run bank reported a net profit increase of 62.42% to Rs 1,869.51 crore in Q3 FY24 over Q3 FY23.

Bank of India Announces Home Loan Rate Cut and Auction for Liberty Oil Mills' Loan - 19 Mar, 2024

Bank of India has reduced its home loan rates to 8.3% and is offering an overdraft facility and financing for rooftop solar panels up to Rs 10 lakh at the same interest rate. The bank is also gearing up for a Swiss auction for Liberty Oil Mills' ₹126 crore loan, with Phoenix ARC's bid guaranteeing 66% recovery.