Bank of India share price: Sharekhan maintains Hold rating with a revised price target of Rs 68
Bank of India (BOI) posted mixed results with operational numbers below estimates. Asset-quality performance was also encouraging. NII stood at Rs 3739.5 cr, down 9.2% yoy and down 9.1% qoq. However, the rise in operating expenses stood at Rs 2971 cr, up 19.5% yoy and up 13% qoq, which resulted in PAT missing estimates.
Bank of India has made a provision of Rs 1162.15 cr (including unrealised interest) for proforma NPA accounts. Currently, the provision coverage ratio (PCR) of the bank at 89.32% provides investor comfort: Reuters