PSU Bank's Stocks Slip Bank Of India Lose Over 4%

PSU Bank's stocks have been losing steam in trade for the second consecutive day. The Bank of India is the top loser in the Nifty PSU Bank index trading lower by close to 4% at Rs 151.9 per share as of 0934 hours on NSE.

As per the market experts, the asset quality improvement is expected at slower and steady rate. The Bank of India’s net interest income (NII) for the quarter grew 8.8% YoY to Rs.3467 crore in Q4FY17. This was primarily due to decline in interest expended by 2.7% YoY.

In terms of asset quality, GNPA’s for the quarter increased by 4.3% YoY to Rs.52044 crore in Q4FY17. In percentage to total advances, GNPAs for the quarter edged up by mere 15bps to 13.22% in Q4FY17 vs 13.07% in Q4FY16.

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