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Bank of India gets shareholders’ approval to raise up to Rs 10,000 crore

Bank of India has received its shareholders approval to raise up to Rs 10,000 crore through issue of bonds. The Bank has also received approval to raise Rs 123.51 crore from government through preferential allotment of equity shares.

Bank of India has reported a net profit of Rs 101.72 crore for the quarter ended December 31, 2016, as compared to net loss of Rs 1505.58 crore for the same quarter in the previous year. Total income of the Bank increased by 4.57% at Rs 11594 crore for quarter under review as compared to Rs 11086.95 crore for the quarter ended December 31, 2015.

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