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Latest news about Bank of India

Bank of India Announces Rs 4.05 Per Share Dividend; Last Day to Buy Shares Today 13 hours ago Today

Bank of India (BOI) has declared a dividend of Rs 4.05 per share for FY2025. June 19 is the last day for shareholders to purchase shares and qualify for the dividend. The record date is set for June 20, and the Annual General Meeting (AGM) will be held on June 27. BOI recently reported an 82% increase in net profit for the previous fiscal year's fourth quarter.

Bank of India Slashes Repo-Based Lending Rate Following RBI's Policy Shift Jun 06, 2025

RBI to Issue New ₹20 Note: Potential Impact on HDFC Bank and Banking Sector May 17, 2025

Bank of India Reports Strong Q4 FY25 Results as LIC Boosts Stake May 14, 2025

Bank of India Reports Robust Q4 FY23 Results with 82.5% Surge in Net Profit May 12, 2025

More news about Bank of India

09May 25

Bank of India Reports Strong Q4 Results: Profit Surges, Asset Quality Improves, Dividend Announced

Bank of India (BOI) has reported a substantial 82.5% year-on-year increase in net profit for Q4, reaching ₹26.26 billion. Revenue grew to ₹183.23 billion, up 13.4% YoY. The bank's asset quality improved significantly, with Gross NPA ratio decreasing to 3.27% and Net NPA slightly reducing to 0.82%. BOI has recommended a dividend of ₹4.05 per equity share for the financial year.

30Apr 25

Bank of India Unveils Rs 5,000 Crore Capital Raising Plan and Revises MCLR

Bank of India's Board has approved a capital raising plan of Rs 5,000 crore for FY 2025-26, split equally between Additional Tier-I and Tier-II bonds. The bank has also revised its Marginal Cost of Fund based Lending Rate (MCLR), reducing the overnight rate from 8.25% to 8.15%, effective May 1, 2025. Other MCLR tenures remain unchanged.

22Apr 25

Bank of India to Consider Capital Raising Through Basel III Compliant Bonds

Bank of India has scheduled a board meeting for April 30, 2025, to discuss raising capital through Basel III compliant Additional Tier 1 (AT-1) and Tier 2 bonds. The meeting aims to strengthen the bank's capital base and comply with global banking standards. The bank has informed the National Stock Exchange and BSE about the meeting, adhering to SEBI regulations.

15Apr 25

Bank of India Slashes Home Loan Rates to 7.90%, Cuts Other Retail Loan Rates by 25 bps

Bank of India has announced significant interest rate reductions across various retail loan products, effective April 15, 2025. Home loan rates have been cut to 7.90% per annum, while other retail loans, including personal and vehicle loans, see a 25 basis points reduction. The bank has also revised its fixed deposit rates. These changes are expected to make borrowing more affordable for customers and potentially stimulate demand in various sectors, including real estate.

14Apr 25

Bank of India Withdraws Special FD Scheme, Revises Interest Rates

Bank of India (BOI) announced the discontinuation of its 400-day special fixed deposit scheme offering 7.30% interest, effective April 15, 2025. The bank will also revise interest rates for deposits below ₹3.00 crore and between ₹3.00 crore to ₹10.00 crore. These changes align with the RBI's recent 25 basis point cut in the repo rate to 6.00%. The adjustments will impact returns for BOI depositors, reflecting broader trends in the banking sector's response to the dynamic interest rate environment.

09Apr 25

Bank of India Cuts Lending Rate Following RBI's Policy Move

Bank of India has reduced its Repo Based Lending Rate (RBLR) to 8.85%, effective April 9, 2025, following the Reserve Bank of India's 25 basis point cut in the repo rate to 6.00%. The RBI's Monetary Policy Committee unanimously voted for this rate cut and changed its policy stance to 'accommodative'. This reduction is expected to lower borrowing costs for Bank of India customers, particularly those with loans linked to RBLR.

03Apr 25

Bank of India Reports Strong Growth in Q4 FY2025 Deposits and Advances

Bank of India announced significant growth in its global operations for Q4 FY2025. Global deposits increased to Rs 8.20 lakh crore from Rs 7.90 lakh crore, while global gross advances rose to Rs 6.70 lakh crore from Rs 6.50 lakh crore. The bank's share price surged nearly 6% following the announcement. The bank also demonstrated efficient handling of investor complaints, resolving all issues within the quarter.

27Mar 25

Bank of India Secures ¥15 Billion Loan and Declares Rolta India NPA as Fraudulent

Bank of India's IBU GIFT City branch has executed a facility agreement to borrow 15 billion Japanese Yen (approx. USD 100 million), to be received on March 27, 2025, for on-lending and general corporate purposes. Separately, BOI has declared Rolta India Ltd.'s Non-Performing Asset of ₹616.30 crore as fraudulent, with provisions already made for the entire outstanding amount.

26Mar 25

Bank of India Declares Rolta India's ₹616.30 Crore NPA as Fraudulent

Bank of India has classified Rolta India Ltd.'s Non-Performing Asset (NPA) of ₹616.30 crore as fraudulent. The bank has already made provisions for the entire outstanding amount and reported the fraud to the Reserve Bank of India on March 26, 2025. In a separate development, Bank of India's IBU Gift City Branch has secured a JPY 15 billion (USD 100 million) borrowing facility for overseas operations.

26Mar 25

Bank of India Secures JPY 15 Billion Facility Agreement for International Expansion

Bank of India has executed a facility agreement to borrow 15 billion Japanese Yen (approximately $100 million) through its IBU GIFT City branch. The funds, expected to be received by March 27, 2025, are intended for on-lending and general corporate purposes at overseas branches. This move signifies BoI's efforts to diversify funding sources and potentially expand its international operations.

26Mar 25

Bank of India Secures $400 Million in Dollar Syndicated Loan, Marking Decade-Long Milestone

Bank of India successfully raised $400 million through a dollar syndicated loan, its first such deal in over a decade. The loan, initially targeting $300 million, was upsized due to strong demand from 22 international lenders. Structured in two equal tranches of three and five years, the loan was raised through the bank's branch in GIFT City. This fundraising effort enhances Bank of India's global presence, improves dollar liquidity, and demonstrates strong investor confidence in the bank's financial health.

25Mar 25

Bank of India Boosts Fund Raising with $100 Million Green Shoe Option

Bank of India has announced the exercise of a $100 million green shoe option, expanding its recent capital raise. The additional funds, split equally between 3-year and 5-year terms, will be used for general corporate purposes, including on-lending at overseas branches. This decision follows a $300 million syndicated loan announced earlier, with the new funds expected by March 27, 2025. The move signals strong investor demand and confidence in the bank's growth strategy.

24Mar 25

Bank of India Expands Fund Raising with $100 Million Green Shoe Option

Bank of India (BoI) has announced the exercise of a $100 million green shoe option, expanding its recent syndicated loan transaction. The additional funds will be split equally between 3-year and 5-year terms. This decision follows BoI's earlier $300 million syndicated loan, bringing the total to $400 million. The bank expects to receive the funds on March 27, 2025, and plans to use them for general corporate purposes, including on-lending at overseas branches.

11Mar 25

Fitch Affirms Bank of India's 'BBB-' Rating, Upgrades Viability Rating Amid Improved Financial Performance

Fitch Ratings has affirmed Bank of India's Long-Term Issuer Default Rating at 'BBB-' with a Stable Outlook and upgraded its Viability Rating to 'bb-' from 'b+'. This upgrade reflects BOI's improved standalone credit profile, evidenced by robust profit growth, enhanced asset quality, and improved operational efficiency. The bank's Q3 FY2024 net profit increased by 36.60% year-on-year to ₹2,638.2 crore, while operating profit rose by 24.29% to ₹13,832.1 crore. Total revenue grew by 21.65% to ₹20,097.7 crore, and the bank's capital position strengthened with total assets increasing by 11.90% to ₹912,598.0 crore.

21Feb 25

Bank of India Reports Gupta Power Infrastructure's ₹226.84 Crore NPA as Fraudulent

Bank of India has reported to the RBI that it has classified Gupta Power Infrastructure Ltd.'s NPA of ₹226.84 crore as fraudulent. The bank has already made a provision of ₹212.62 crore, covering 93.7% of the outstanding amount. This disclosure was made in a regulatory filing to stock exchanges, in compliance with SEBI regulations.

19Feb 25

Bank of India Raises ₹2,690 Crore Through Long-Term Infrastructure Bonds

Bank of India successfully raised ₹2,690 crore through the issuance of long-term infrastructure bonds on February 18, 2025. The bonds, issued on a private placement basis, carry a coupon rate of 7.50% per annum with a face value of ₹1 lakh per bond. The issue was oversubscribed, with 18 allottees participating. This capital raising initiative aims to strengthen the bank's long-term funding base and potentially increase its lending capacity for infrastructure projects.