Money & Banking

Bank of India net loss widens to ₹6,993 crore

Mumbai | Updated on November 18, 2019 Published on November 18, 2019

Bank of India’s net loss widened by ₹1,446 crore to ₹6,993 crore for FY2019 following disclosure of divergence in asset classification and provisioning for non-performing assets (NPAs) as per the Reserve Bank of India’s Risk Assessment Report (RAR) for the year 2018-19. The RAR had assessed the divergence in provisions for NPAs at ₹1,446 crore. While the bank reported NPA provisions of ₹39,392 crore as on March-end 2019, the RBI assessed the same to be ₹40,838 crore. The divergence in gross and net NPAs was ₹1,117 crore each.

Published on November 18, 2019
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