Bank of India has announced the completion of the sale of its 5 percent stake in TransUnion CIBIL to TransUnion International. The bank sold the shares at Rs. 1,525 per share for a total consideration of Rs. 190.62 crore.
Bank of India has reported a net profit of Rs. 102 crore during the third quarter of FY17 against a loss of Rs. 1,505 during the same quarter of FY16. Gross non -performing assets of the bank declined by 0.92 percent on a year on year basis and reported at Rs. 51,781 crore as on third quarter ending FY17.
Bank of India has reduced its loan against property interest rate by 60 basis points. The revised LAP rate now stands at 10.50 percent as compared to 11.10 percent earlier. The rate is effective from 7th January, 2017.
Bank of India has reduced its home loan interest rates by 65 bps to 8.65 percent for women. The bank has also reduced home loan interest rates for other borrowers to 8.70 percent as compared to 9.30 percent earlier. The rates are effective from 7th January, 2017.
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