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Bank of India to Raise Rs. 8,000 cr
August 14, 2017
As the government is planning to initiate the bank consolidation process as soon as the Q1 results are out, Bank of India (BoI) is readying itself with an aim of raising Rs. 8,000 crore this year that will help it to buy a bank when the time comes.
BoI had reported a net profit of Rs. 87.7 crore for the June quarter although the net loss stood at Rs. 741 crores last year. According to chief executive Dinabandhu Mohapatra, the bank is set to make progress from this point onwards and recovery of bad loans may gain pace in the next few quarters.
