Bank of India Shares Drop by 11% to Rs 123 on May 13
Open Demat A/C
Bank of India's shares fell by 11% to Rs 123 on May 13 due to a 23 basis point contraction in the lender's margins in Q4FY24.
Open Demat A/C Bank of India's net profit grew by 7% YoY to Rs 1,439 crore in Q4FY24, while net interest income rose by 7% YoY to Rs 5,937 crore.
Open Demat A/C The global business increased by 11.6% YoY to Rs 11.8 lakh crore, but the global return on assets remained at 0.6% yearly.
Open Demat A/C The board recommended a dividend of Rs 2.8 per equity share of face value of Rs 10 each for FY23-24, subject to shareholders' approval.
Open Demat A/C The lender's asset quality remained resilient, with a gross non-performing asset (NPA) ratio of 4.98 percent in Q4FY24 and a net NPA ratio of 1.22 percent in Q4FY24.
Open Demat A/C Open Demat A/C
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