<div align="justify">State-owned Bank of India has turned around its financial performance and posted a net profit of Rs 87.71 crore for the quarter ended June 30, 2017, compared to a loss of Rs 741 crore in the corresponding period (Q1FY17).<br /><br />The bank had posted a loss of Rs 1,045.52 crore in the sequential quarter (Q4FY17). Asset quality for the bank during the quarter witnessed a marginal improvement. Gross non-performing assets (NPAs) ratio declined sequentially, and was 13.05% as on June 30, 2017, against 13.22% as on March 31, 2017.<br /><br />Net NPA ratio for the bank declined to 6.70% as on June 30, 2017, against 6.90% as on March 31, 2017. Total global restructured standard assets of the bank were Rs 11,679 crore as on June 30, 2017.<br /><br />The total stressed assets (gross NPA + restructured standard assets) as percentage of global gross advances declined from 16.47% in June 2016, to 16.03% in June 2017.<br /><br />Net interest income for the bank during the quarter declined 26.98% to Rs 2,533 crore in June 2017 quarter compared to Rs 2,775 crore in the same quarter previous fiscal.<br /><br />Provision coverage ratio improved from 53.06% in June 2016, to 63.54% in June 2017, which was at 61.47% in March 2017.Gross advances grew 0.90% to Rs 3,91,062 crore.<br /><br />The bank is targeting a credit and deposit growth of 8-10% in the fiscal 2017-18. In the current financial year, the bank is planning to seek Rs 2,500 crore capital from the government, BoI managing director and CEO Dinabandhu Mohapatra said.<br /><br />The bank’s scrip ended at Rs 158.45, up 3.77% on the BSE, whose benchmark index Sensex dropped 0.68% to settle at 31,797.84.<br /></div>
<div align="justify">State-owned Bank of India has turned around its financial performance and posted a net profit of Rs 87.71 crore for the quarter ended June 30, 2017, compared to a loss of Rs 741 crore in the corresponding period (Q1FY17).<br /><br />The bank had posted a loss of Rs 1,045.52 crore in the sequential quarter (Q4FY17). Asset quality for the bank during the quarter witnessed a marginal improvement. Gross non-performing assets (NPAs) ratio declined sequentially, and was 13.05% as on June 30, 2017, against 13.22% as on March 31, 2017.<br /><br />Net NPA ratio for the bank declined to 6.70% as on June 30, 2017, against 6.90% as on March 31, 2017. Total global restructured standard assets of the bank were Rs 11,679 crore as on June 30, 2017.<br /><br />The total stressed assets (gross NPA + restructured standard assets) as percentage of global gross advances declined from 16.47% in June 2016, to 16.03% in June 2017.<br /><br />Net interest income for the bank during the quarter declined 26.98% to Rs 2,533 crore in June 2017 quarter compared to Rs 2,775 crore in the same quarter previous fiscal.<br /><br />Provision coverage ratio improved from 53.06% in June 2016, to 63.54% in June 2017, which was at 61.47% in March 2017.Gross advances grew 0.90% to Rs 3,91,062 crore.<br /><br />The bank is targeting a credit and deposit growth of 8-10% in the fiscal 2017-18. In the current financial year, the bank is planning to seek Rs 2,500 crore capital from the government, BoI managing director and CEO Dinabandhu Mohapatra said.<br /><br />The bank’s scrip ended at Rs 158.45, up 3.77% on the BSE, whose benchmark index Sensex dropped 0.68% to settle at 31,797.84.<br /></div>
