Bank of India(BOI) expects to return to black in Q2 said D B Mohapatra

Bank of India (BoI), which had been reporting losses for last two consecutive fiscals, expects to return to black in the second quarter of current fiscal.

“Our operating profit is very robust and net interest income is strong. But we had been making losses as were making higher provisioning for NPAs. 

We hope to make net profits in the second quarter of current fiscal”, MD and CEO of BoI D B Mohapatra told reporters here today.

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Government demotes two top chief executives of Punjab National Bank and Bank of India

Sunil Mehta has been appointed to head Punjab National Bank, the country's second largest public sector bank, in place of Usha Ananthasubramanian, in a series of changes at public sector lenders. Dinabandhu Mohapatra has been promoted as chief executive officer of Bank of India, replacing Melwyn Rego. 

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