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Bank of India shows all the stress that covid-19 can bring

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Public sector lender Bank of India reported a large net loss of ₹3,571 crore for the March quarter. But this hardly mattered given that most of its peers too have shown a loss.Also, the loss was mainly due to an eight-fold jump in provisioning for bad loans, and also for risks arising out of the lockdown due to of the covid-19 pandemic.

The lender is not an outlier in this case.Ergo, the reason behind the stock’s more than 9% fall on Thursday is not just the net loss or the provisioning.There are a number of factors that raise red flags in the case of Bank of India.Net interest income, which is a bank’s core business, showed a 6.2% drop from the year ago period.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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