Net Interest Income (NII) is expected to increase by 55 percent Y-o-Y (up 34 percent Q-o-Q) to Rs. 6,770.3 crore, according to Kotak.
The public sector bank has revised the marginal cost of funds-based lending rate (MCLR) with effect from July 7, 2019, it said in a regulatory filing.
Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 5 points or 0.04 percent. Nifty futures were trading around 11,975-level on the Singaporean Exchange.
As per regulatory norms, banks need to sign an inter-creditor agreement to implement the plan, which has been scheduled for July 5.
Transaction will help BoB pare its loan exposure to the non-bank lender. Since the acquired loans are higher rated assets, the quality of the state-run bank’s loanbook will improve
Credit Suisse has maintained underperform call on the stock with a target price at Rs 115 per share, implying 5 percent potential downside from current level.
Some of the foreign banks operating in India also reported fraud cases worth crores during the last 11 fiscal years.
The Net NPA numbers of the merged bank should be about Rs 23,000 crore which is equal to just one & half years operating profit of the merged bank, a very positive number.
While Bhushan Power & Steel dues are to the tune of Rs 2,099 crore, Alok Industries dues are Rs 903 crore.
ICICI Direct is bullish on Bank of Baroda has recommended buy rating on the stock with a target price of Rs 170 in its research report dated May 23, 2019.
The bank in its BSE release reported a 68 percent decline in net loss at Rs 991.4 crore, compared to Rs 3,102.3 crore in the corresponding quarter of the last year.
The net NPA ratio for the merged entity is likely to be below 3 percent in 2019-20.
Provisions remained elevated in Q4 at Rs 5,399.3 crore against Rs 2,794.2 crore in previous quarter and Rs 6,672 crore in corresponding period last year.
Kotak Institutional Equities projects bank's net profit at Rs 1,455.9 crore, up 208.9 percent QoQ
The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1.
Iquippo, a non profit started by Srei's promoters, will facilitate sourcing of loans, an official statement said.
In February, India's industrial output recorded 20-month low growth of 0.1 percent, raising concerns on the country's economic growth trajectory
BoB, the second-largest public sector lender after State Bank of India, now has over 9,500 branches, 13,400 ATMs, and 85,000 employees to serve 12 crore customers.
The selected firm will have to complete the assignment within 6-8 weeks.
The advisory firm is expected to analyse findings and share preliminary feedback with select members of the board.
The lender has increased its one-year bulk deposit rate to 7.3 percent
Net Interest Income (NII) is expected to increase by 22.7 percent Y-o-Y (up 3.5 percent Q-o-Q) to Rs. 4,909.7 crore, according to Motilal Oswal.
Net Interest Income (NII) is expected to increase by 23.2 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs. 4,929.4 crore, according to Kotak.
The top Nifty gainers include Indiabulls Housing Finance, Tata Motors, IndusInd Bank, HDFC and Bharti Airtel while BPCL, Eicher Motors, Infosys, Tech Mahindra and Britannia Industries are the top losers.