Due to huge loan loss provisioning, Bank of India reported a huge net loss of Rs 2341 crore in the third quarter against a net profit of Rs 102 crore in the year ago period.
Loan loss provisions jumped to Rs 4373 crore against Rs 2546 crore in the year ago period.
Gross non-performing assets (GNPAs) jumped by Rs 14,942 crore during the quarter to Rs 64,249 crore as on December-end 2017.
GNPAs rose to 16.93 per cent of gross advances as on December-end 2017 against 12.62 per cent as on December-end 2016.