Photo: Pradeep Gaur/MintNew Delhi: State-owned Bank of India has reported a net profit of Rs126.84 crore for the second quarter ended September. “During the quarter, the bank has earned profit before tax amounting to Rs495 crore (Rs323.69 crore net of taxes) from sale of 18% stake in Star Union Dai-ichi Life Insurance Company Ltd (joint venture of the bank),” it said. Net NPAs or bad loans were 7.56% of net advances for the period under review, up from 4.31% a year ago. In absolute terms, gross NPAs stood at Rs52,261.95 crore as on September 2016, from the earlier Rs29,293.67 crore. Net NPAs were at Rs27,467.05 crore as against the previous Rs16,466.48 crore.

Source: Mint November 10, 2016 09:55 UTC